Umassfive College Federal Credit Union Mortgage Rates, Fees & Info

Hadley, MA

LEI: 549300S0KDQNIC08M074

Tax ID: 04-2430894

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
  • 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

    Umassfive College Federal Credit Union is a smaller credit union specializing in Home Improvement, Other, and Home Purchase loans. Umassfive College Federal Credit Union has a high proportion of conventional loans. Their top markets by origination volume include: Springfield, Worcester, Boston, Barnstable Town, and Pittsfield among others. We have data for 8 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Umassfive College 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. Umassfive College Federal Credit Union 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 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 5.68% 11/21/24
    30 Year Conventional Refi 6.35% 11/21/24
    30 Year Cash-out Refi 6.75% 11/21/24
    15 Year Conventional Purchase 6.30% 11/21/24
    15 Year Conventional Refi 6.04% 11/21/24
    15 Year Cash-out Refi 6.04% 11/21/24
    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.

    Umassfive College Federal Credit Union Mortgage Calculator






    Your Estimates

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

    This is not an official calculator from Umassfive College Federal Credit Union. 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

    334

    Origination Dollar Volume (All Markets)

    $37,000,000

    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
    SPRINGFIELD, MA (FHA|USDA|VA) 226 $22,110,000 $97,832 $971 4.40%
    WORCESTER, MA-CT (FHA|USDA|VA) 55 $6,305,000 $114,636 $942 4.35%
    Boston-Cambridge-Newton, MA-NH (FHA|USDA|VA) 31 $4,305,000 $138,871 $306 4.11%
    BARNSTABLE TOWN, MA (FHA|USDA|VA) 6 $2,470,000 $411,667 $5,928 4.27%
    PITTSFIELD, MA (FHA|USDA|VA) 4 $600,000 $150,000 $1,508 4.18%
    PROVIDENCE-WARWICK, RI-MA (FHA|USDA|VA) 2 $520,000 $260,000 $3,517 4.88%
    HARTFORD-EAST HARTFORD-MIDDLETOWN, CT (FHA|USDA|VA) 5 $455,000 $91,000 $916 4.65%
    Outside of Metro Areas 5 $235,000 $47,000 $0 3.84%
    Umassfive College Federal Credit Union's top markets include Springfield, Worcester, Boston, Barnstable Town, and Pittsfield among others.

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

    • Similar Lenders

    We use machine learning to identify the top lenders compared against UMASSFIVE COLLEGE Federal Credit Union based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.

    Charter Oak Federal Credit Union
    Similarity Rank: 42
    HOMEFIELD
    Similarity Rank: 72
    Freedom Credit Union
    Similarity Rank: 78
    ARRHA Credit Union
    Similarity Rank: 105
    Middlesex Savings Bank
    Similarity Rank: 120
    POLISH NATIONAL
    Similarity Rank: 130
    IC Federal Credit Union
    Similarity Rank: 144
    LUSO
    Similarity Rank: 144
    Florence Bank
    Similarity Rank: 150
    Adams Community Bank
    Similarity Rank: 156

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 334 $37,000,000 $110,778 $1,000 4.36%

    For 2022, Umassfive College Federal Credit Union's most frequently originated type of loan was Conventional, with 334 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Improvement 137 $11,155,000 $81,423 $2 4.14%
    Other 119 $7,765,000 $65,252 $230 4.57%
    Home Purchase 43 $13,765,000 $320,116 $6,058 4.49%
    Refi 27 $2,795,000 $103,519 $368 4.24%
    Cash Out Refi 8 $1,520,000 $190,000 $4,852 4.61%

    For 2022, Umassfive College Federal Credit Union's most frequently cited loan purpose was Home Improvement, with 137 originations. The 2nd most popular reason was Other, with 119 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    10 Year 118 $8,430,000 $71,441 $0 4.30%
    15 Year 65 $6,755,000 $103,923 $376 4.62%
    5 Year 55 $2,225,000 $40,455 $0 3.81%
    30 Year 49 $14,945,000 $305,000 $6,110 4.63%
    20 Year 44 $4,380,000 $99,545 $82 4.53%
    Other 3 $265,000 $88,333 $1,653 3.62%

    For 2022, Umassfive College Federal Credit Union's most frequently cited loan duration was 10 Year, with 118 originations. The 2nd most popular length was 15 Year, with 65 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 276 $20,310,000 $73,587
    $1k-2k 17 $4,905,000 $288,529
    $2k-3k 13 $2,995,000 $230,385
    $3k-4k 11 $3,215,000 $292,273
    $4k-5k 8 $2,100,000 $262,500
    $5k+ 7 $3,065,000 $437,857

    Umassfive College Federal Credit Union's average total fees were $6,110, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 276 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    3-4% 131 $15,005,000 $114,542
    4-5% 104 $11,480,000 $110,385
    5-6% 54 $7,290,000 $135,000
    2.5-3% 25 $1,365,000 $54,600
    6-7% 16 $1,330,000 $83,125
    7-8% 4 $530,000 $132,500

    During 2022, Umassfive College Federal Credit Union's average interest rate for loans was 4.63%, while their most frequently originated rate bucket for loans was 3-4%, with 131 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 212 $10,090,000 $47,594 $38 4.36%
    $100k-200k 70 $9,280,000 $132,571 $1,020 4.34%
    $200k-400k 42 $11,670,000 $277,857 $4,085 4.31%
    $400k-600k 5 $2,445,000 $489,000 $10,000 4.77%
    $600k-1MM 5 $3,515,000 $703,000 $7,009 4.32%

    2022 saw Umassfive College Federal Credit Union place emphasis on $100,000 or less loans with 212 originations, totaling $10,090,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 87 $8,575,000 $98,563 $930 4.27%
    $50k-75k 68 $5,800,000 $85,294 $836 4.63%
    $150k-250k 65 $6,725,000 $103,462 $540 4.12%
    $75k-100k 58 $6,100,000 $105,172 $1,179 4.48%
    $250k+ 29 $6,945,000 $239,483 $1,732 4.31%
    $50k or less 24 $2,530,000 $105,417 $1,797 4.44%

    Umassfive College Federal Credit Union lent most frequently to those with incomes in the $100k-150k range, with 87 originations. The second most popular income band? $50k-75k, with 68 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 73 $5,445,000 $74,589 $603 4.26%
    30-36% 57 $6,065,000 $106,404 $710 4.30%
    <20% 44 $4,880,000 $110,909 $976 4.15%
    50-60% 26 $2,920,000 $112,308 $1,002 4.20%
    40% 18 $1,550,000 $86,111 $335 4.34%
    39% 17 $1,765,000 $103,824 $0 4.36%
    37% 13 $2,105,000 $161,923 $1,686 3.90%
    46% 12 $1,710,000 $142,500 $1,816 4.33%
    38% 10 $1,710,000 $171,000 $2,490 4.70%
    41% 10 $2,030,000 $203,000 $3,316 5.22%
    36% 9 $705,000 $78,333 $30 4.52%
    42% 8 $1,010,000 $126,250 $785 4.62%
    43% 8 $1,160,000 $145,000 $1,881 4.72%
    44% 8 $830,000 $103,750 $504 4.58%
    45% 7 $535,000 $76,429 $615 5.78%
    48% 6 $750,000 $125,000 $1,618 4.14%
    49% 5 $695,000 $139,000 $3,336 4.82%
    47% 2 $780,000 $390,000 $14,408 3.50%

    Umassfive College Federal Credit Union lent most frequently to those with DTI ratios of 20-30%, with 73 originations. The next most common DTI ratio? 30-36%, with 57 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 272 $27,790,000 $102,169 $877 4.37%
    Not provided 27 $4,695,000 $173,889 $1,233 4.18%
    Asian 12 $2,470,000 $205,833 $2,367 3.83%
    Black 18 $1,760,000 $97,778 $1,641 4.71%
    Other Asian 1 $165,000 $165,000 $4,377 5.75%
    American Indian 2 $50,000 $25,000 $0 4.63%
    Asian Indian 1 $45,000 $45,000 $0 2.99%
    Native Hawaiian or Islander 1 $25,000 $25,000 $0 5.00%

    Approval Rates

    Total approvals of all applications
    91.94%

    Umassfive College Federal Credit Union has an average approval rate.

    Pick Rate

    Approvals leading to origination
    80.54%

    Umassfive College Federal Credit Union has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 334 $37,000,000 $110,778

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    334 $37,000,000 $110,778

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 78 $8,530,000 $109,359 $90 4.50%
    40-60% 25 $4,705,000 $188,200 $2,439 4.38%
    60-80% 25 $8,035,000 $321,400 $5,301 4.48%
    80-100% 19 $6,605,000 $347,632 $7,049 4.56%
    Under 20% 187 $9,125,000 $48,797 $0 4.26%