Marine Federal Credit Union Mortgage Rates, Fees & Info

Jacksonville, NC

LEI: 549300OP5DX4ZL2E2S84

Tax ID: 56-0706163

Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data

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Mortgage Data

  • Originations
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • Complaints
  • Loan Length
  • Loan to Value Info
  • Debt-to-Income
  • Applicant Income
  • Ethnicity Info
  • Approval & Pick Rates
  • Points and Fees
  • Origination Fees (Closing Costs)

    • Review & Overview

    Marine Federal Credit Union is a smaller credit union specializing in Home Purchase, Cash Out Refi, and Refi loans. Marine Federal Credit Union has a high proportion of conventional loans. Marine Federal Credit Union has a low ratio of conventional loans. Their top markets by origination volume include: Jacksonville, Washington, Wilmington, New Bern, and Morehead City among others. We have data for 17 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.

    We show data for every lender and do not change our ratings-- even if an organization is a paid advertiser. Our consensus data does have lag, but it is highly correlated to a lender's rates & fees relative to their markets. This means that if a bank is a low fee/rate lender the past-- chances are they are still one today. Our SimulatedRates™ use advanced statistical techniques to forecast different rates based on a lender's historical data.

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    Originations

    123

    Origination Dollar Volume (All Markets)

    $23,545,000

    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) 54 $8,720,000 $161,481 $0 5.25%
    Washington-Arlington-Alexandria, DC-VA-MD-WV (FHA|USDA|VA) 9 $2,785,000 $309,444 $0 0.00%
    WILMINGTON, NC (FHA|USDA|VA) 11 $2,615,000 $237,727 $0 0.00%
    Outside of Metro Areas 12 $1,910,000 $159,167 $0 0.00%
    NEW BERN, NC (FHA|USDA|VA) 7 $1,395,000 $199,286 $0 0.00%
    Morehead City, NC (FHA|USDA|VA) 7 $1,385,000 $197,857 $0 0.00%
    CHARLOTTE-CONCORD-GASTONIA, NC-SC (FHA|USDA|VA) 5 $1,275,000 $255,000 $0 0.00%
    HILTON HEAD ISLAND-BLUFFTON, SC (FHA|USDA|VA) 4 $870,000 $217,500 $0 0.00%
    RALEIGH-CARY, NC (FHA|USDA|VA) 3 $725,000 $241,667 $0 0.00%
    VIRGINIA BEACH-NORFOLK-NEWPORT NEWS, VA-NC (FHA|USDA|VA) 2 $370,000 $185,000 $0 0.00%
    WINSTON-SALEM, NC (FHA|USDA|VA) 2 $310,000 $155,000 $0 0.00%
    STAUNTON, VA (FHA|USDA|VA) 1 $275,000 $275,000 $0 0.00%
    HICKORY-LENOIR-MORGANTON, NC (FHA|USDA|VA) 2 $260,000 $130,000 $0 0.00%
    FAYETTEVILLE, NC (FHA|USDA|VA) 1 $215,000 $215,000 $0 0.00%
    GREENVILLE-ANDERSON, SC (FHA|USDA|VA) 1 $205,000 $205,000 $0 0.00%
    MYRTLE BEACH-CONWAY-NORTH MYRTLE BEACH, SC-NC (FHA|USDA|VA) 1 $165,000 $165,000 $0 0.00%
    Bennettsville, SC (FHA|USDA|VA) 1 $65,000 $65,000 $0 0.00%
    Marine Federal Credit Union's top markets include Jacksonville, Washington, Wilmington, New Bern, and Morehead City 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 102 $19,170,000 $187,941 $0 0.00%
    VA 19 $4,085,000 $215,000 $0 0.00%
    Conventional 2 $290,000 $145,000 $0 5.25%

    For 2020, Marine Federal Credit Union's most frequently originated type of loan was Conventional, with 102 originations. Their 2nd most popular type was VA, with 19 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 55 $10,575,000 $192,273 $0 0.00%
    Cash Out Refi 32 $5,190,000 $162,188 $0 5.00%
    Refi 25 $5,795,000 $231,800 $0 0.00%
    Home Improvement 10 $1,770,000 $177,000 $0 0.00%
    NA 1 $215,000 $215,000 $0 5.50%

    For 2020, Marine Federal Credit Union's most frequently cited loan purpose was Home Purchase, with 55 originations. The 2nd most popular reason was Cash Out Refi, with 32 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 121 $23,255,000 $192,190 $0 0.00%
    5 Year 2 $290,000 $145,000 $0 5.25%

    For 2020, Marine Federal Credit Union's most frequently cited loan duration was Other, with 121 originations. The 2nd most popular length was 5 Year, with 2 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    4-5% 1 $75,000 $75,000
    5-6% 1 $215,000 $215,000

    During 2020, Marine Federal Credit Union's average interest rate for loans was 0.00%, while their most frequently originated rate bucket for loans was 4-5%, with 1 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100k-200k 54 $8,280,000 $153,333 $0 0.00%
    $200k-400k 48 $12,220,000 $254,583 $0 5.50%
    $100,000 or less 17 $1,105,000 $65,000 $0 5.00%
    $400k-600k 3 $1,335,000 $445,000 $0 0.00%
    $600k-1MM 1 $605,000 $605,000 $0 0.00%

    2020 saw Marine Federal Credit Union place emphasis on $100k-200k loans with 54 originations, totaling $8,280,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 28 $5,620,000 $200,714 $0 0.00%
    $50k-75k 27 $4,935,000 $182,778 $0 0.00%
    $50k or less 24 $3,300,000 $137,500 $0 0.00%
    $75k-100k 24 $4,790,000 $199,583 $0 5.00%
    $150k-250k 19 $4,685,000 $246,579 $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 27 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 121 $23,255,000 $192,190 $0 0.00%

    Marine Federal Credit Union lent most frequently to those with DTI ratios of Exempt%, with 121 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 90 $17,880,000 $198,667 $0 0.00%
    Not provided 15 $2,835,000 $189,000 $0 0.00%
    Black 16 $2,400,000 $150,000 $0 5.00%
    American Indian 1 $215,000 $215,000 $0 0.00%
    Not applicable 1 $215,000 $215,000 $0 5.50%

    Approval Rates

    Total approvals of all applications
    71.91%

    Marine Federal Credit Union has a below average approval rate.

    Pick Rate

    Approvals leading to origination
    23.58%

    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 121 $23,255,000 $192,190
    NA 2 $290,000 $145,000

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Single Family (1-4 Units):Manufactured 3 $505,000 $168,333
    Single Family (1-4 Units):Site-Built 120 $23,040,000 $192,000

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    40-60% 1 $215,000 $215,000 $0 5.50%
    60-80% 1 $75,000 $75,000 $0 5.00%

    Complaints

    Bank Name Product Issue 2020 CPFB Complaints % of Total Issues
    Moran Financial Group LLC Conventional home mortgage Closing on a mortgage 1 100.0%