Shrewsbury Federal Credit Union Mortgage Rates, Fees & Info

SHREWSBURY, MA

LEI: 549300Q4IFHVIODLF616

Tax ID: 04-2297446

Latest/2024 | 2023 Data | 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
  • Similar Lenders
  • 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

    Shrewsbury Federal Credit Union is a smaller credit union specializing in Home Purchase loans. Shrewsbury Federal Credit Union has a high proportion of conventional loans. Their top (well, only) market is Worcester.

    Shrewsbury Federal Credit Union has an above 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

    22

    Origination Dollar Volume (All Markets)

    $4,310,000

    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
    WORCESTER, MA-CT (FHA|USDA|VA) 22 $4,310,000 $195,909 $0 0.00%
    Shrewsbury Federal Credit Union's top markets include and Worcester among others.

    Their top states include:
  • Massachusetts (FHA|USDA|VA)

    • Similar Lenders

    We use machine learning to identify the top lenders compared against SHREWSBURY Federal Credit Union based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.

    UniBank for Savings
    Similarity Rank: 60
    ROCKLAND
    Similarity Rank: 65
    MERRIMACK VALLEY
    Similarity Rank: 121
    St. Mary's Credit Union
    Similarity Rank: 135
    Bristol County Savings Bank
    Similarity Rank: 220
    Workers Credit Union
    Similarity Rank: 247
    Middlesex Savings Bank
    Similarity Rank: 260
    METRO
    Similarity Rank: 297
    CENTRAL ONE FEDERAL CREDIT UNION
    Similarity Rank: 299
    Country Bank for Savings
    Similarity Rank: 329

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 22 $4,310,000 $195,909 $0 0.00%

    For 2024, Shrewsbury Federal Credit Union's most frequently originated type of loan was Conventional, with 22 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Improvement 8 $700,000 $87,500 $0 0.00%
    Home Purchase 6 $2,750,000 $458,333 $0 0.00%
    Other 6 $510,000 $85,000 $0 0.00%
    Refi 2 $350,000 $175,000 $0 0.00%

    For 2024, Shrewsbury Federal Credit Union's most frequently cited loan purpose was Home Improvement, with 8 originations. The 2nd most popular reason was Home Purchase, with 6 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 22 $4,310,000 $195,909 $0 0.00%

    For 2024, Shrewsbury Federal Credit Union's most frequently cited loan duration was Other, with 22 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 11 $575,000 $52,273 $0 0.00%
    $200k-400k 5 $1,365,000 $273,000 $0 0.00%
    $400k-600k 4 $2,120,000 $530,000 $0 0.00%
    $100k-200k 2 $250,000 $125,000 $0 0.00%

    2024 saw Shrewsbury Federal Credit Union place emphasis on $100,000 or less loans with 11 originations, totaling $575,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $150k-250k 9 $2,785,000 $309,444 $0 0.00%
    $100k-150k 6 $740,000 $123,333 $0 0.00%
    $250k+ 4 $650,000 $162,500 $0 0.00%
    $75k-100k 2 $80,000 $40,000 $0 0.00%
    $50k or less 1 $55,000 $55,000 $0 0.00%

    Shrewsbury Federal Credit Union lent most frequently to those with incomes in the $150k-250k range, with 9 originations. The second most popular income band? $100k-150k, with 6 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 22 $4,310,000 $195,909 $0 0.00%

    Shrewsbury Federal Credit Union lent most frequently to those with DTI ratios of Exempt%, with 22 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 13 $2,255,000 $173,462 $0 0.00%
    Asian Indian 2 $600,000 $300,000 $0 0.00%
    Not provided 4 $570,000 $142,500 $0 0.00%
    American Indian 1 $325,000 $325,000 $0 0.00%
    Asian 1 $305,000 $305,000 $0 0.00%
    Black 1 $255,000 $255,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    91.49%

    Shrewsbury Federal Credit Union has an average approval rate.

    Pick Rate

    Approvals leading to origination
    59.09%

    Shrewsbury 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 22 $4,310,000 $195,909

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    22 $4,310,000 $195,909