Marine Federal Credit Union Mortgage Rates, Fees & Info
Jacksonville, NCLEI: 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
113Origination Dollar Volume (All Markets)
$19,415,000Top 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% |
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
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
2019 saw Marine Federal Credit Union place emphasis on $100k-200k loans with 41 originations, totaling $6,095,000 in origination value.
Applicant Income
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
Approval Rates
Total approvals of all applications80.62%
Marine Federal Credit Union has a below average approval rate.
Pick Rate
Approvals leading to origination48.67%
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 |