Shrewsbury Federal Credit Union Mortgage Rates, Fees & Info

SHREWSBURY, MA

LEI: 549300Q4IFHVIODLF616

Tax ID: 04-2297446

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
  • 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, Refi, and Cash Out Refi loans. Shrewsbury Federal Credit Union has a high proportion of conventional loans. Their top markets by origination volume include: Worcester, Boston, and Barnstable Town among others. We have data for 3 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Shrewsbury Federal Credit Union has an average approval rate when compared to the average across all lenders. They have an 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

    65

    Origination Dollar Volume (All Markets)

    $15,245,000

    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) 60 $13,730,000 $228,833 $0 0.00%
    Boston-Cambridge-Newton, MA-NH (FHA|USDA|VA) 2 $760,000 $380,000 $0 0.00%
    BARNSTABLE TOWN, MA (FHA|USDA|VA) 3 $755,000 $251,667 $0 0.00%
    Shrewsbury Federal Credit Union's top markets include Worcester, Boston, and Barnstable Town 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.

    Northern Bank & Trust Company
    Similarity Rank: 64
    SOUTHBRIDGE CREDIT UNION
    Similarity Rank: 80
    Bristol County Savings Bank
    Similarity Rank: 96
    Middlesex Savings Bank
    Similarity Rank: 145
    Cambridge Savings Bank
    Similarity Rank: 160
    LEOMINSTER CREDIT UNION
    Similarity Rank: 180
    Milford Federal Bank
    Similarity Rank: 252
    WEBSTER FIRST Federal Credit Union
    Similarity Rank: 253
    St. Mary's Credit Union
    Similarity Rank: 264
    Charter Oak Federal Credit Union
    Similarity Rank: 294

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 65 $15,245,000 $234,538 $0 0.00%

    For 2019, Shrewsbury Federal Credit Union's most frequently originated type of loan was Conventional, with 65 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 27 $7,015,000 $259,815 $0 0.00%
    Refi 13 $3,395,000 $261,154 $0 0.00%
    Cash Out Refi 13 $3,445,000 $265,000 $0 0.00%
    Home Improvement 10 $950,000 $95,000 $0 0.00%
    Other 2 $440,000 $220,000 $0 0.00%

    For 2019, Shrewsbury Federal Credit Union's most frequently cited loan purpose was Home Purchase, with 27 originations. The 2nd most popular reason was Refi, with 13 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 65 $15,245,000 $234,538 $0 0.00%

    For 2019, Shrewsbury Federal Credit Union's most frequently cited loan duration was Other, with 65 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 37 $10,765,000 $290,946 $0 0.00%
    $100,000 or less 12 $520,000 $43,333 $0 0.00%
    $100k-200k 11 $1,725,000 $156,818 $0 0.00%
    $400k-600k 5 $2,235,000 $447,000 $0 0.00%

    2019 saw Shrewsbury Federal Credit Union place emphasis on $200k-400k loans with 37 originations, totaling $10,765,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 20 $5,180,000 $259,000 $0 0.00%
    $150k-250k 18 $5,140,000 $285,556 $0 0.00%
    $50k-75k 10 $1,210,000 $121,000 $0 0.00%
    $75k-100k 8 $1,890,000 $236,250 $0 0.00%
    $50k or less 4 $410,000 $102,500 $0 0.00%
    $250k+ 3 $795,000 $265,000 $0 0.00%

    Shrewsbury Federal Credit Union lent most frequently to those with incomes in the $100k-150k range, with 20 originations. The second most popular income band? $150k-250k, with 18 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 65 $15,245,000 $234,538 $0 0.00%

    Shrewsbury Federal Credit Union lent most frequently to those with DTI ratios of Exempt%, with 65 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 53 $12,245,000 $231,038 $0 0.00%
    Not provided 5 $1,335,000 $267,000 $0 0.00%
    Not applicable 2 $620,000 $310,000 $0 0.00%
    Asian 2 $530,000 $265,000 $0 0.00%
    Black 2 $480,000 $240,000 $0 0.00%
    Asian Indian 1 $35,000 $35,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    89.11%

    Shrewsbury Federal Credit Union has an average approval rate.

    Pick Rate

    Approvals leading to origination
    93.85%

    Shrewsbury Federal Credit Union has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 65 $15,245,000 $234,538

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Single Family (1-4 Units):Site-Built 65 $15,245,000 $234,538