Community Credit Union Of Lynn Mortgage Rates, Fees & Info

Lynn, MA

LEI: 549300R1DB8186CV7Z17

Tax ID: 04-2207787

Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data

Jump to:

  • SimulatedRates™
  • Mortgage Calculator

    • Mortgage Data

  • Originations
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • Complaints
  • 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

    Community Credit Union Of Lynn is a smaller credit union specializing in Cash Out Refi and Home Purchase loans. Community Credit Union Of Lynn has a high proportion of conventional loans. Their top markets by origination volume include: Boston, Worcester, North Port, Hartford, and Miami among others. We have data for 8 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Community Credit Union Of Lynn has an average approval rate when compared to the average across all lenders. They have a below average pick rate when compared to similar lenders. Community Credit Union Of Lynn is typically a low fee lender. (We use the term "fees" to include things like closing costs and other costs incurred by borrowers-- whether they are paid out of pocket or rolled into the loan.) They typically have about average rates.

    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.

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    SimulatedRates™

    Mortgage Type     		Simulated Rate Simulation Date
    30 Year Conventional Purchase 7.98% 4/28/24
    30 Year Conventional Refi 6.27% 4/28/24
    30 Year Cash-out Refi 6.24% 4/28/24
    15 Year Conventional Purchase 5.74% 4/28/24
    These are simulated rates generated by our proprietary machine learning models. These are not guaranteed by the bank. They are our estimates based on a lender's past behaviors combined with current market conditions. Contact an individual lender for their actual rates. Our models use fixed rate terms for conforming loans, 700+ FICO, 10% down for FHA and 20% for conventional. These are based on consensus, historical data-- not advertised promotional rates.

    Community Credit Union Of Lynn Mortgage Calculator






    Your Estimates

    Estimated Loan Payment: Update the calculator values and click calculate payment!

    This is not an official calculator from Community Credit Union Of Lynn. It uses our SimulatedRate™ technology, basic math and reasonable assumptions to calculate mortgage payments derived from our simulations and your inputs.

    The default purchase price is the median sales price across the US for 2022Q4, per FRED.


    Originations

    114

    Origination Dollar Volume (All Markets)

    $39,960,000

    Awards

    COMMUNITY CREDIT UNION OF LYNN 30 Year Conventional Loans silver
    Show all (1) awards

    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
    Boston-Cambridge-Newton, MA-NH (FHA|USDA|VA) 101 $36,795,000 $364,307 $2,916 3.16%
    WORCESTER, MA-CT (FHA|USDA|VA) 6 $1,370,000 $228,333 $2,603 4.38%
    Outside of Metro Areas 2 $440,000 $220,000 $3,080 2.94%
    North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) 1 $325,000 $325,000 $4,690 3.25%
    HARTFORD-EAST HARTFORD-MIDDLETOWN, CT (FHA|USDA|VA) 1 $315,000 $315,000 $3,400 3.25%
    Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) 1 $305,000 $305,000 $3,395 3.13%
    SPRINGFIELD, MA (FHA|USDA|VA) 1 $305,000 $305,000 $3,212 3.25%
    MANCHESTER-NASHUA, NH (FHA|USDA|VA) 1 $105,000 $105,000 $1,993 2.88%
    Community Credit Union Of Lynn's top markets include Boston, Worcester, North Port, Hartford, and Miami among others.

    Their top states include:
  • Massachusetts (FHA|USDA|VA)
  • New Hampshire (FHA|USDA|VA)
  • Florida (FHA|USDA|VA)
  • Connecticut (FHA|USDA|VA)

    • Similar Lenders

    We use machine learning to identify the top lenders compared against COMMUNITY CREDIT UNION OF LYNN based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.

    Sharon & Crescent United Credit Union
    Similarity Rank: 335
    LUSO-AMERICAN CREDIT UNION
    Similarity Rank: 474
    Middlesex Savings Bank
    Similarity Rank: 672
    Bridgewater Savings Bank
    Similarity Rank: 672
    East Boston Savings Bank
    Similarity Rank: 755
    Piscataqua Savings Bank
    Similarity Rank: 789
    Norwood Co-operative Bank
    Similarity Rank: 820
    QUINCY CREDIT UNION
    Similarity Rank: 900
    HARVARD UNIVERSITY EMPLOYEES
    Similarity Rank: 1001
    Walpole Co-operative Bank
    Similarity Rank: 1052

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 114 $39,960,000 $350,526 $2,921 3.22%

    For 2021, Community Credit Union Of Lynn's most frequently originated type of loan was Conventional, with 114 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Cash Out Refi 65 $19,745,000 $303,769 $2,753 3.26%
    Refi 25 $7,015,000 $280,600 $2,465 2.93%
    Home Purchase 24 $13,200,000 $550,000 $3,852 3.43%

    For 2021, Community Credit Union Of Lynn's most frequently cited loan purpose was Cash Out Refi, with 65 originations. The 2nd most popular reason was Refi, with 25 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 75 $29,645,000 $395,267 $3,103 3.48%
    15 Year 24 $6,290,000 $262,083 $2,535 2.63%
    20 Year 9 $2,715,000 $301,667 $2,576 3.15%
    10 Year 6 $1,310,000 $218,333 $2,720 2.48%

    For 2021, Community Credit Union Of Lynn's most frequently cited loan duration was 30 Year, with 75 originations. The 2nd most popular length was 15 Year, with 24 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 108 $36,770,000 $340,463
    $2k-3k 4 $1,160,000 $290,000
    $5k+ 1 $525,000 $525,000

    Community Credit Union Of Lynn's average total fees were $3,103, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 108 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    3-4% 55 $21,295,000 $387,182
    2.5-3% 31 $11,685,000 $376,935
    <2.5% 15 $2,555,000 $170,333
    4-5% 12 $3,970,000 $330,833
    5-6% 1 $455,000 $455,000

    During 2021, Community Credit Union Of Lynn's average interest rate for loans was 3.48%, while their most frequently originated rate bucket for loans was 3-4%, with 55 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 57 $16,545,000 $290,263 $2,734 3.23%
    $400k-600k 24 $11,650,000 $485,417 $3,488 3.43%
    $100k-200k 20 $2,880,000 $144,000 $2,289 2.98%
    $600k-1MM 6 $4,190,000 $698,333 $3,727 3.67%
    $100,000 or less 4 $270,000 $67,500 $2,022 2.53%
    $1MM+ 3 $4,425,000 $1,475,000 $5,744 3.04%

    2021 saw Community Credit Union Of Lynn place emphasis on $200k-400k loans with 57 originations, totaling $16,545,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $150k-250k 30 $10,090,000 $336,333 $2,927 3.15%
    $250k+ 27 $12,455,000 $461,296 $3,214 3.45%
    $100k-150k 26 $9,090,000 $349,615 $2,931 3.13%
    $75k-100k 17 $5,435,000 $319,706 $2,773 3.26%
    $50k-75k 12 $2,610,000 $217,500 $2,510 2.92%
    $50k or less 2 $280,000 $140,000 $2,474 3.88%

    Community Credit Union Of Lynn lent most frequently to those with incomes in the $150k-250k range, with 30 originations. The second most popular income band? $250k+, with 27 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    30-36% 25 $8,705,000 $348,200 $2,984 3.35%
    <20% 19 $6,655,000 $350,263 $2,937 3.09%
    20-30% 13 $3,545,000 $272,692 $2,504 2.99%
    39% 8 $4,480,000 $560,000 $3,525 3.44%
    49% 6 $3,000,000 $500,000 $3,293 3.83%
    40% 6 $2,640,000 $440,000 $2,987 3.27%
    46% 5 $1,245,000 $249,000 $2,548 3.43%
    41% 5 $1,645,000 $329,000 $2,715 3.05%
    43% 5 $1,195,000 $239,000 $2,976 3.00%
    45% 4 $930,000 $232,500 $2,630 3.16%
    48% 4 $2,060,000 $515,000 $4,201 3.03%
    44% 4 $1,300,000 $325,000 $2,610 2.69%
    38% 3 $685,000 $228,333 $2,698 3.50%
    36% 3 $895,000 $298,333 $2,539 3.38%
    47% 2 $380,000 $190,000 $2,229 3.00%
    42% 1 $355,000 $355,000 $2,593 3.38%
    37% 1 $245,000 $245,000 $2,487 3.00%

    Community Credit Union Of Lynn lent most frequently to those with DTI ratios of 30-36%, with 25 originations. The next most common DTI ratio? <20%, with 19 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 95 $32,305,000 $340,053 $2,876 3.23%
    Black 4 $2,570,000 $642,500 $3,347 3.22%
    Asian 6 $2,530,000 $421,667 $3,053 3.40%
    Not provided 7 $2,195,000 $313,571 $3,065 3.25%
    Other Asian 1 $205,000 $205,000 $4,156 2.25%
    American Indian 1 $155,000 $155,000 $2,496 2.25%

    Approval Rates

    Total approvals of all applications
    84.67%

    Community Credit Union Of Lynn has a below average approval rate.

    Pick Rate

    Approvals leading to origination
    88.60%

    Community Credit Union Of Lynn has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 114 $39,960,000 $350,526

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    114 $39,960,000 $350,526

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 22 $5,600,000 $254,545 $2,496 3.12%
    40-60% 36 $12,330,000 $342,500 $2,651 3.15%
    60-80% 37 $16,275,000 $439,865 $3,273 3.42%
    80-100% 10 $4,590,000 $459,000 $4,082 3.38%
    Under 20% 8 $890,000 $111,250 $2,268 2.78%

    Complaints

    Bank Name Product Issue 2021 CPFB Complaints % of Total Issues
    COMMUNITY MORTGAGE CORPORATION FHA mortgage Applying for a mortgage or refinancing an existing mortgage 1 100.0%