Shrewsbury Federal Credit Union Mortgage Rates, Fees & Info
SHREWSBURY, MALEI: 549300Q4IFHVIODLF616
Tax ID: 04-2297446
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Mortgage Data
Review & Overview
Shrewsbury Federal Credit Union is a smaller credit union specializing in Refi, Cash Out Refi, and Home Purchase 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 above 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
84Origination Dollar Volume (All Markets)
$21,290,000Top 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 |
|---|---|---|---|---|---|
| WORCESTER, MA-CT (FHA|USDA|VA) | 74 | $18,210,000 | $246,081 | $0 | 0.00% |
| Boston-Cambridge-Newton, MA-NH (FHA|USDA|VA) | 7 | $2,195,000 | $313,571 | $0 | 0.00% |
| BARNSTABLE TOWN, MA (FHA|USDA|VA) | 3 | $885,000 | $295,000 | $0 | 0.00% |
Their top states include:
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.
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Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 84 | $21,290,000 | $253,452 | $0 | 0.00% |
For 2020, Shrewsbury Federal Credit Union's most frequently originated type of loan was Conventional, with 84 originations.
Loan Reason
For 2020, Shrewsbury Federal Credit Union's most frequently cited loan purpose was Refi, with 34 originations. The 2nd most popular reason was Cash Out Refi, with 23 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Other | 84 | $21,290,000 | $253,452 | $0 | 0.00% |
For 2020, Shrewsbury Federal Credit Union's most frequently cited loan duration was Other, with 84 originations.
Loan Sizing
2020 saw Shrewsbury Federal Credit Union place emphasis on $200k-400k loans with 51 originations, totaling $14,505,000 in origination value.
Applicant Income
Shrewsbury Federal Credit Union lent most frequently to those with incomes in the $100k-150k range, with 27 originations. The second most popular income band? $150k-250k, with 19 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Exempt% | 84 | $21,290,000 | $253,452 | $0 | 0.00% |
Shrewsbury Federal Credit Union lent most frequently to those with DTI ratios of Exempt%, with 84 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications92.31%
Shrewsbury Federal Credit Union has an average approval rate.
Pick Rate
Approvals leading to origination85.71%
Shrewsbury Federal Credit Union has an average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| Exempt | 84 | $21,290,000 | $253,452 |