Community Credit Union Of Lynn Mortgage Rates, Fees & Info
Lynn, MALEI: 549300R1DB8186CV7Z17
Tax ID: 04-2207787
Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data
Jump to:
Mortgage Data
Review & Overview
Community Credit Union Of Lynn is a smaller credit union specializing in Home Purchase and Cash Out Refi loans. Community Credit Union Of Lynn has a high proportion of conventional loans. Their top markets by origination volume include: Boston, Naples, Portland, Providence, and Los Angeles among others. We have data for 10 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 an average 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 relatively high 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.
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.
SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| 30 Year Conventional Purchase | 7.98% | 11/22/24 |
| 30 Year Conventional Refi | 6.27% | 11/22/24 |
| 30 Year Cash-out Refi | 6.24% | 11/22/24 |
| 15 Year Conventional Purchase | 5.74% | 11/22/24 |
| 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
46Origination Dollar Volume (All Markets)
$18,220,000Top 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) | 35 | $12,995,000 | $371,286 | $3,851 | 5.66% |
| Outside of Metro Areas | 1 | $2,005,000 | $2,005,000 | $9,837 | 3.75% |
| NAPLES-MARCO ISLAND, FL (FHA|USDA|VA) | 1 | $725,000 | $725,000 | $5,196 | 5.50% |
| PORTLAND-SOUTH PORTLAND, ME (FHA|USDA|VA) | 1 | $665,000 | $665,000 | $3,799 | 6.00% |
| PROVIDENCE-WARWICK, RI-MA (FHA|USDA|VA) | 2 | $650,000 | $325,000 | $5,898 | 5.75% |
| Los Angeles-Long Beach-Anaheim, CA (FHA|USDA|VA) | 1 | $405,000 | $405,000 | $0 | 7.13% |
| MANCHESTER-NASHUA, NH (FHA|USDA|VA) | 2 | $240,000 | $120,000 | $0 | 4.00% |
| PITTSBURGH, PA (FHA|USDA|VA) | 1 | $235,000 | $235,000 | $5,339 | 5.38% |
| WORCESTER, MA-CT (FHA|USDA|VA) | 1 | $185,000 | $185,000 | $0 | 6.00% |
| BRIDGEPORT-STAMFORD-NORWALK, CT (FHA|USDA|VA) | 1 | $115,000 | $115,000 | $2,395 | 3.75% |
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.
Similarity Rank: 50
Similarity Rank: 115
Similarity Rank: 168
Similarity Rank: 195
Similarity Rank: 200
Similarity Rank: 200
Similarity Rank: 348
Similarity Rank: 357
Similarity Rank: 360
Similarity Rank: 364
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 46 | $18,220,000 | $396,087 | $4,187 | 5.55% |
For 2022, Community Credit Union Of Lynn's most frequently originated type of loan was Conventional, with 46 originations.
Loan Reason
For 2022, Community Credit Union Of Lynn's most frequently cited loan purpose was Home Purchase, with 23 originations. The 2nd most popular reason was Other, with 13 originations.
Loan Duration/Length
For 2022, Community Credit Union Of Lynn's most frequently cited loan duration was 30 Year, with 32 originations. The 2nd most popular length was 15 Year, with 8 originations.
Origination Fees/Closing Costs
| Origination Fee/Closing Cost | Originations | Total Value | Average Loan |
|---|---|---|---|
| $<1k | 31 | $13,195,000 | $425,645 |
| $5k+ | 4 | $1,570,000 | $392,500 |
| $1k-2k | 1 | $235,000 | $235,000 |
| $4k-5k | 1 | $425,000 | $425,000 |
Community Credit Union Of Lynn's average total fees were $4,788, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 31 originations.
Interest Rates
During 2022, Community Credit Union Of Lynn's average interest rate for loans was 5.31%, while their most frequently originated rate bucket for loans was 5-6%, with 16 originations.
Loan Sizing
2022 saw Community Credit Union Of Lynn place emphasis on $400k-600k loans with 13 originations, totaling $6,435,000 in origination value.
Applicant Income
Community Credit Union Of Lynn lent most frequently to those with incomes in the $150k-250k range, with 12 originations. The second most popular income band? $250k+, with 10 originations.
Applicant Debt to Income Ratio
Community Credit Union Of Lynn lent most frequently to those with DTI ratios of 20-30%, with 8 originations. The next most common DTI ratio? 30-36%, with 7 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications89.55%
Community Credit Union Of Lynn has an average approval rate.
Pick Rate
Approvals leading to origination69.57%
Community Credit Union Of Lynn has a low pick rate. They may have issues with closing loans or may approve everyone, but with onerous loan terms.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 46 | $18,220,000 | $396,087 |
LTV Distribution
Complaints
| Bank Name | Product | Issue | 2022 CPFB Complaints | % of Total Issues |
|---|---|---|---|---|
| Community Loan Servicing, LLC (formerly known as Bayview Loan Servicing, LLC) | FHA mortgage | Struggling to pay mortgage | 2 | 66.7% |
| Community Loan Servicing, LLC (formerly known as Bayview Loan Servicing, LLC) | Other type of mortgage | Trouble during payment process | 1 | 33.3% |