Marine Federal Credit Union Mortgage Rates, Fees & Info

Jacksonville, NC

LEI: 549300OP5DX4ZL2E2S84

Tax ID: 56-0706163

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Mortgage Data

Review & Overview

Marine Federal Credit Union is a smaller credit union specializing in Home Purchase loans. Marine Federal Credit Union has a high proportion of conventional loans. Their top markets by origination volume include: Jacksonville, Wilmington, Washington, Morehead City, and Greensboro among others. We have data for 16 markets. (Some data included below & more in-depth data is available with an active subscription.)

Marine Federal Credit Union has an average approval rate when compared to the average across all lenders. They have a below average pick rate when compared to similar lenders.

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Originations

113

Origination Dollar Volume (All Markets)

$19,415,000

Top Markets

Zoom/scroll map to see bank's per metro statistics. Subscribers can configure state/metro/county granularity, assorted fields and quantity of results. This map shows top 10 markets in the map viewport, as defined by descending origination volume.

Market Originations Total Value Average Loan Average Fees Average Rate
JACKSONVILLE, NC (FHA|USDA|VA) 65 $9,995,000 $153,769 $0 0.00%
WILMINGTON, NC (FHA|USDA|VA) 13 $2,495,000 $191,923 $0 0.00%
Outside of Metro Areas 9 $1,645,000 $182,778 $0 0.00%
Washington-Arlington-Alexandria, DC-VA-MD-WV (FHA|USDA|VA) 5 $1,175,000 $235,000 $0 0.00%
Morehead City, NC (FHA|USDA|VA) 4 $1,060,000 $265,000 $0 0.00%
GREENSBORO-HIGH POINT, NC (FHA|USDA|VA) 2 $620,000 $310,000 $0 0.00%
GREENVILLE, NC (FHA|USDA|VA) 3 $485,000 $161,667 $0 0.00%
RALEIGH-CARY, NC (FHA|USDA|VA) 2 $440,000 $220,000 $0 0.00%
Albemarle, NC (FHA|USDA|VA) 1 $295,000 $295,000 $0 0.00%
CHARLOTTE-CONCORD-GASTONIA, NC-SC (FHA|USDA|VA) 2 $270,000 $135,000 $0 0.00%
DURHAM-CHAPEL HILL, NC (FHA|USDA|VA) 1 $245,000 $245,000 $0 0.00%
NEW BERN, NC (FHA|USDA|VA) 2 $220,000 $110,000 $0 0.00%
SPARTANBURG, SC (FHA|USDA|VA) 1 $165,000 $165,000 $0 0.00%
Boone, NC (FHA|USDA|VA) 1 $145,000 $145,000 $0 0.00%
Wilson, NC (FHA|USDA|VA) 1 $105,000 $105,000 $0 0.00%
CHARLESTON-NORTH CHARLESTON, SC (FHA|USDA|VA) 1 $55,000 $55,000 $0 0.00%
Marine Federal Credit Union's top markets include Jacksonville, Wilmington, Washington, Morehead City, and Greensboro among others.

Their top states include:
  • North Carolina (FHA|USDA|VA)
  • Virginia (FHA|USDA|VA)
  • South Carolina (FHA|USDA|VA)
  • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 90 $13,900,000 $154,444 $0 0.00%
    VA 23 $5,515,000 $239,783 $0 0.00%

    For 2019, Marine Federal Credit Union's most frequently originated type of loan was Conventional, with 90 originations. Their 2nd most popular type was VA, with 23 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 77 $13,605,000 $176,688 $0 0.00%
    Cash Out Refi 21 $3,315,000 $157,857 $0 0.00%
    Refi 8 $1,150,000 $143,750 $0 0.00%
    Home Improvement 3 $475,000 $158,333 $0 0.00%
    Other 2 $440,000 $220,000 $0 0.00%
    NA 2 $430,000 $215,000 $0 0.00%

    For 2019, Marine Federal Credit Union's most frequently cited loan purpose was Home Purchase, with 77 originations. The 2nd most popular reason was Cash Out Refi, with 21 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 113 $19,415,000 $171,814 $0 0.00%

    For 2019, Marine Federal Credit Union's most frequently cited loan duration was Other, with 113 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100k-200k 41 $6,095,000 $148,659 $0 0.00%
    $200k-400k 36 $9,610,000 $266,944 $0 0.00%
    $100,000 or less 32 $1,990,000 $62,188 $0 0.00%
    $400k-600k 4 $1,720,000 $430,000 $0 0.00%

    2019 saw Marine Federal Credit Union place emphasis on $100k-200k loans with 41 originations, totaling $6,095,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 28 $5,720,000 $204,286 $0 0.00%
    $50k-75k 23 $3,955,000 $171,957 $0 0.00%
    $50k or less 23 $2,965,000 $128,913 $0 0.00%
    $75k-100k 20 $3,420,000 $171,000 $0 0.00%
    $150k-250k 12 $2,670,000 $222,500 $0 0.00%

    Marine Federal Credit Union lent most frequently to those with incomes in the $100k-150k range, with 28 originations. The second most popular income band? $50k-75k, with 23 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 113 $19,415,000 $171,814 $0 0.00%

    Marine Federal Credit Union lent most frequently to those with DTI ratios of Exempt%, with 113 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 90 $15,870,000 $176,333 $0 0.00%
    Black 8 $1,560,000 $195,000 $0 0.00%
    Not provided 7 $1,125,000 $160,714 $0 0.00%
    Asian 2 $500,000 $250,000 $0 0.00%
    Not applicable 6 $360,000 $60,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    80.62%

    Marine Federal Credit Union has a below average approval rate.

    Pick Rate

    Approvals leading to origination
    48.67%

    Marine Federal Credit Union has a low pick rate. They may have issues with closing loans or may approve everyone, but with onerous loan terms.

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 113 $19,415,000 $171,814

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Single Family (1-4 Units):Site-Built 113 $19,415,000 $171,814