Marine Federal Credit Union Mortgage Rates, Fees & Info
Jacksonville, NCLEI: 549300OP5DX4ZL2E2S84
Tax ID: 56-0706163
Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data
Jump to:
Mortgage Data
Review & Overview
Marine Federal Credit Union is a smaller credit union specializing in Home Purchase and Home Improvement loans. Marine Federal Credit Union has a high proportion of conventional loans. Marine Federal Credit Union has an average proportion of conventional loans. Their top markets by origination volume include: Jacksonville, Wilmington, Morehead City, Washington, and New Bern among others. We have data for 19 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.
Mortgage seekers: Choose your metro area here to explore the lowest fee & rate lenders.
Mortgage professionals: We have various tools to make your lives easier. Contact us to see how we can help with your market research, analytics or advertising needs.
Originations
116Origination Dollar Volume (All Markets)
$27,680,000Top 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) | 59 | $8,165,000 | $138,390 | $0 | 3.81% |
| WILMINGTON, NC (FHA|USDA|VA) | 12 | $7,110,000 | $592,500 | $0 | 4.00% |
| Morehead City, NC (FHA|USDA|VA) | 11 | $2,075,000 | $188,636 | $0 | 4.00% |
| Washington-Arlington-Alexandria, DC-VA-MD-WV (FHA|USDA|VA) | 7 | $1,865,000 | $266,429 | $0 | 0.00% |
| NEW BERN, NC (FHA|USDA|VA) | 4 | $1,670,000 | $417,500 | $0 | 4.00% |
| RALEIGH-CARY, NC (FHA|USDA|VA) | 3 | $1,195,000 | $398,333 | $0 | 0.00% |
| HILTON HEAD ISLAND-BLUFFTON, SC (FHA|USDA|VA) | 4 | $1,110,000 | $277,500 | $0 | 0.00% |
| Dallas-Fort Worth-Arlington, TX (FHA|USDA|VA) | 1 | $1,005,000 | $1,005,000 | $0 | 0.00% |
| GREENVILLE, NC (FHA|USDA|VA) | 1 | $555,000 | $555,000 | $0 | 3.75% |
| HICKORY-LENOIR-MORGANTON, NC (FHA|USDA|VA) | 1 | $475,000 | $475,000 | $0 | 0.00% |
| MYRTLE BEACH-CONWAY-NORTH MYRTLE BEACH, SC-NC (FHA|USDA|VA) | 2 | $410,000 | $205,000 | $0 | 0.00% |
| Washington, NC (FHA|USDA|VA) | 1 | $365,000 | $365,000 | $0 | 0.00% |
| Outside of Metro Areas | 2 | $350,000 | $175,000 | $0 | 0.00% |
| CHARLOTTE-CONCORD-GASTONIA, NC-SC (FHA|USDA|VA) | 2 | $320,000 | $160,000 | $0 | 4.00% |
| GREENSBORO-HIGH POINT, NC (FHA|USDA|VA) | 1 | $295,000 | $295,000 | $0 | 0.00% |
| FAYETTEVILLE, NC (FHA|USDA|VA) | 1 | $285,000 | $285,000 | $0 | 0.00% |
| ASHEVILLE, NC (FHA|USDA|VA) | 1 | $155,000 | $155,000 | $0 | 0.00% |
| ROCKY MOUNT, NC (FHA|USDA|VA) | 2 | $150,000 | $75,000 | $0 | 4.00% |
| Wilson, NC (FHA|USDA|VA) | 1 | $125,000 | $125,000 | $0 | 0.00% |
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 85 | $20,555,000 | $241,824 | $0 | 0.00% |
| VA | 16 | $4,430,000 | $276,875 | $0 | 0.00% |
| Conventional | 15 | $2,695,000 | $179,667 | $0 | 3.88% |
For 2021, Marine Federal Credit Union's most frequently originated type of loan was Conventional, with 85 originations. Their 2nd most popular type was VA, with 16 originations.
Loan Reason
For 2021, Marine Federal Credit Union's most frequently cited loan purpose was Home Purchase, with 41 originations. The 2nd most popular reason was Refi, with 27 originations.
Loan Duration/Length
For 2021, Marine Federal Credit Union's most frequently cited loan duration was Other, with 106 originations. The 2nd most popular length was 10 Year, with 5 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 3-4% | 14 | $2,610,000 | $186,429 |
| 4-5% | 1 | $85,000 | $85,000 |
During 2021, Marine Federal Credit Union's average interest rate for loans was 0.00%, while their most frequently originated rate bucket for loans was 3-4%, with 14 originations.
Loan Sizing
2021 saw Marine Federal Credit Union place emphasis on $100k-200k loans with 51 originations, totaling $7,065,000 in origination value.
Applicant Income
Marine Federal Credit Union lent most frequently to those with incomes in the $100k-150k range, with 24 originations. The second most popular income band? $50k-75k, with 24 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Exempt% | 101 | $24,985,000 | $247,376 | $0 | 0.00% |
Marine Federal Credit Union lent most frequently to those with DTI ratios of Exempt%, with 101 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications75.89%
Marine Federal Credit Union has a below average approval rate.
Pick Rate
Approvals leading to origination58.62%
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 | 101 | $24,985,000 | $247,376 |
| NA | 15 | $2,695,000 | $179,667 |