Shrewsbury Federal Credit Union Mortgage Rates, Fees & Info
SHREWSBURY, MALEI: 549300Q4IFHVIODLF616
Tax ID: 04-2297446
Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data
Jump to:
Mortgage Data
Review & Overview
Shrewsbury Federal Credit Union is a smaller credit union specializing in Home Improvement, Home Purchase, and Cash Out Refi loans. Shrewsbury Federal Credit Union has a high proportion of conventional loans. Their top markets by origination volume include: Worcester, Barnstable Town, Boston, and Providence among others. We have data for 4 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.
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
49Origination Dollar Volume (All Markets)
$7,955,000Top 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) | 46 | $7,280,000 | $158,261 | $0 | 0.00% |
| BARNSTABLE TOWN, MA (FHA|USDA|VA) | 1 | $395,000 | $395,000 | $0 | 0.00% |
| Boston-Cambridge-Newton, MA-NH (FHA|USDA|VA) | 1 | $225,000 | $225,000 | $0 | 0.00% |
| PROVIDENCE-WARWICK, RI-MA (FHA|USDA|VA) | 1 | $55,000 | $55,000 | $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.
Similarity Rank: 42
Similarity Rank: 72
Similarity Rank: 120
Similarity Rank: 144
Similarity Rank: 195
Similarity Rank: 210
Similarity Rank: 210
Similarity Rank: 217
Similarity Rank: 264
Similarity Rank: 280
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 49 | $7,955,000 | $162,347 | $0 | 0.00% |
For 2022, Shrewsbury Federal Credit Union's most frequently originated type of loan was Conventional, with 49 originations.
Loan Reason
For 2022, Shrewsbury Federal Credit Union's most frequently cited loan purpose was Home Improvement, with 20 originations. The 2nd most popular reason was Home Purchase, with 10 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Other | 49 | $7,955,000 | $162,347 | $0 | 0.00% |
For 2022, Shrewsbury Federal Credit Union's most frequently cited loan duration was Other, with 49 originations.
Loan Sizing
2022 saw Shrewsbury Federal Credit Union place emphasis on $100,000 or less loans with 20 originations, totaling $1,150,000 in origination value.
Applicant Income
Shrewsbury Federal Credit Union lent most frequently to those with incomes in the $150k-250k range, with 16 originations. The second most popular income band? $100k-150k, with 13 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Exempt% | 49 | $7,955,000 | $162,347 | $0 | 0.00% |
Shrewsbury Federal Credit Union lent most frequently to those with DTI ratios of Exempt%, with 49 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications94.37%
Shrewsbury Federal Credit Union has an average approval rate.
Pick Rate
Approvals leading to origination81.63%
Shrewsbury Federal Credit Union has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| Exempt | 49 | $7,955,000 | $162,347 |