First Priority Credit Union Mortgage Rates, Fees & Info
East Boston, MALEI: 549300Q54P1BCT7V8T10
Tax ID: 04-1106850
Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data
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Mortgage Data
Review & Overview
First Priority Credit Union is a smaller credit union specializing in Refi and Home Purchase loans. First Priority Credit Union has a high proportion of conventional loans. Their top markets by origination volume include: Boston, Barnstable Town, and Providence among others. We have data for 3 markets. (Some data included below & more in-depth data is available with an active subscription.)First Priority 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.
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Originations
25Origination Dollar Volume (All Markets)
$7,035,000Top 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 |
|---|---|---|---|---|---|
| Boston-Cambridge-Newton, MA-NH (FHA|USDA|VA) | 23 | $6,335,000 | $275,435 | $0 | 0.00% |
| BARNSTABLE TOWN, MA (FHA|USDA|VA) | 1 | $575,000 | $575,000 | $0 | 0.00% |
| PROVIDENCE-WARWICK, RI-MA (FHA|USDA|VA) | 1 | $125,000 | $125,000 | $0 | 0.00% |
Their top states include:
Similar Lenders
We use machine learning to identify the top lenders compared against First Priority 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 | 25 | $7,035,000 | $281,400 | $0 | 0.00% |
For 2019, First Priority Credit Union's most frequently originated type of loan was Conventional, with 25 originations.
Loan Reason
| Loan Reason | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Refi | 13 | $4,075,000 | $313,462 | $0 | 0.00% |
| Home Purchase | 6 | $1,770,000 | $295,000 | $0 | 0.00% |
| Other | 6 | $1,190,000 | $198,333 | $0 | 0.00% |
For 2019, First Priority Credit Union's most frequently cited loan purpose was Refi, with 13 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 | 25 | $7,035,000 | $281,400 | $0 | 0.00% |
For 2019, First Priority Credit Union's most frequently cited loan duration was Other, with 25 originations.
Loan Sizing
2019 saw First Priority Credit Union place emphasis on $200k-400k loans with 11 originations, totaling $2,925,000 in origination value.
Applicant Income
First Priority Credit Union lent most frequently to those with incomes in the $75k-100k range, with 8 originations. The second most popular income band? $150k-250k, with 6 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Exempt% | 25 | $7,035,000 | $281,400 | $0 | 0.00% |
First Priority Credit Union lent most frequently to those with DTI ratios of Exempt%, with 25 originations.
Ethnicity Mix
| Applicant Ethnicity | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| White | 23 | $6,575,000 | $285,870 | $0 | 0.00% |
| Not provided | 2 | $460,000 | $230,000 | $0 | 0.00% |
Approval Rates
Total approvals of all applications84.38%
First Priority Credit Union has a below average approval rate.
Pick Rate
Approvals leading to origination92.00%
First Priority Credit Union has an average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| Exempt | 25 | $7,035,000 | $281,400 |
Occupancy Type Mix
| Dwelling Type | Originations | Total Value | Average Loan |
|---|---|---|---|
| Single Family (1-4 Units):Site-Built | 25 | $7,035,000 | $281,400 |
Complaints
| Bank Name | Product | Issue | 2019 CPFB Complaints | % of Total Issues |
|---|---|---|---|---|
| First Technology Federal Credit Union | Other type of mortgage | Applying for a mortgage or refinancing an existing mortgage | 1 | 14.3% |
| First Technology Federal Credit Union | Home equity loan or line of credit (HELOC) | Trouble during payment process | 1 | 14.3% |
| First Technology Federal Credit Union | Conventional home mortgage | Trouble during payment process | 4 | 57.1% |
| First Technology Federal Credit Union | Conventional home mortgage | Applying for a mortgage or refinancing an existing mortgage | 1 | 14.3% |