Blackstone River Federal Credit Union Mortgage Rates, Fees & Info
Woonsocket, RILEI: 549300T04FOW0XMN1L26
Tax ID: 05-6009774
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Mortgage Data
Review & Overview
Blackstone River Federal Credit Union is a smaller credit union specializing in Refi loans. Blackstone River Federal Credit Union has a high proportion of conventional loans. Their top markets by origination volume include: Providence, Worcester, and Boston among others. We have data for 3 markets. (Some data included below & more in-depth data is available with an active subscription.)Blackstone River Federal 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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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| 15 Year Conventional Refi | 5.68% | 5/4/24 |
| 15 Year Cash-out Refi | 5.68% | 5/4/24 |
| 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. | ||
Blackstone River Federal Credit Union Mortgage Calculator
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Originations
16Origination Dollar Volume (All Markets)
$1,870,000Top 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 |
|---|---|---|---|---|---|
| PROVIDENCE-WARWICK, RI-MA (FHA|USDA|VA) | 13 | $1,335,000 | $102,692 | $0 | 3.56% |
| WORCESTER, MA-CT (FHA|USDA|VA) | 2 | $280,000 | $140,000 | $0 | 3.50% |
| Boston-Cambridge-Newton, MA-NH (FHA|USDA|VA) | 1 | $255,000 | $255,000 | $0 | 3.50% |
Their top states include:
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 15 | $1,835,000 | $122,333 | $0 | 3.57% |
| HELOC | 1 | $35,000 | $35,000 | n/a | 3.25% |
For 2021, Blackstone River Federal Credit Union's most frequently originated type of loan was Conventional, with 15 originations. Their 2nd most popular type was HELOC, with 1 originations.
Loan Reason
| Loan Reason | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Refi | 12 | $1,520,000 | $126,667 | $0 | 3.57% |
| Home Improvement | 3 | $315,000 | $105,000 | $0 | 3.57% |
| Other | 1 | $35,000 | $35,000 | $0 | 3.25% |
For 2021, Blackstone River Federal Credit Union's most frequently cited loan purpose was Refi, with 12 originations. The 2nd most popular reason was Home Improvement, with 3 originations.
Loan Duration/Length
For 2021, Blackstone River Federal Credit Union's most frequently cited loan duration was 20 Year, with 9 originations. The 2nd most popular length was 10 Year, with 2 originations.
Origination Fees/Closing Costs
| Origination Fee/Closing Cost | Originations | Total Value | Average Loan |
|---|---|---|---|
| $1k-2k | 9 | $1,615,000 | $179,444 |
| $<1k | 6 | $220,000 | $36,667 |
Blackstone River Federal Credit Union's average total fees were $0, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 9 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 3-4% | 14 | $1,810,000 | $129,286 |
| 4-5% | 2 | $60,000 | $30,000 |
During 2021, Blackstone River Federal Credit Union's average interest rate for loans was 0.00%, while their most frequently originated rate bucket for loans was 3-4%, with 14 originations.
Loan Sizing
| Loan Size | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| $100,000 or less | 7 | $255,000 | $36,429 | $0 | 3.61% |
| $100k-200k | 6 | $880,000 | $146,667 | $0 | 3.50% |
| $200k-400k | 3 | $735,000 | $245,000 | $0 | 3.50% |
2021 saw Blackstone River Federal Credit Union place emphasis on $100,000 or less loans with 7 originations, totaling $255,000 in origination value.
Applicant Income
Blackstone River Federal Credit Union lent most frequently to those with incomes in the $50k-75k range, with 7 originations. The second most popular income band? $50k or less, with 3 originations.
Applicant Debt to Income Ratio
Blackstone River Federal Credit Union lent most frequently to those with DTI ratios of 20-30%, with 6 originations. The next most common DTI ratio? 30-36%, with 3 originations.
Ethnicity Mix
| Applicant Ethnicity | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| White | 14 | $1,660,000 | $118,571 | $0 | 3.54% |
| Black | 2 | $210,000 | $105,000 | $0 | 3.60% |
Approval Rates
Total approvals of all applications89.47%
Blackstone River Federal Credit Union has an average approval rate.
Pick Rate
Approvals leading to origination93.75%
Blackstone River Federal Credit Union has an average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 16 | $1,870,000 | $116,875 |