Blackstone River Federal Credit Union Mortgage Rates, Fees & Info
Woonsocket, RILEI: 549300T04FOW0XMN1L26
Tax ID: 05-6009774
Latest/2024 | 2023 Data | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data
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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 above average approval rate when compared to the average across all lenders.
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Originations
37Origination Dollar Volume (All Markets)
$3,605,000Top 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) | 32 | $3,280,000 | $102,500 | $0 | 4.27% |
| WORCESTER, MA-CT (FHA|USDA|VA) | 3 | $245,000 | $81,667 | $600 | 4.10% |
| Boston-Cambridge-Newton, MA-NH (FHA|USDA|VA) | 2 | $80,000 | $40,000 | $0 | 4.03% |
Their top states include:
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 37 | $3,605,000 | $97,432 | $600 | 4.24% |
For 2022, Blackstone River Federal Credit Union's most frequently originated type of loan was Conventional, with 37 originations.
Loan Reason
For 2022, Blackstone River Federal Credit Union's most frequently cited loan purpose was Refi, with 23 originations. The 2nd most popular reason was Other, with 11 originations.
Loan Duration/Length
For 2022, Blackstone River Federal Credit Union's most frequently cited loan duration was 10 Year, with 12 originations. The 2nd most popular length was 20 Year, with 10 originations.
Origination Fees/Closing Costs
| Origination Fee/Closing Cost | Originations | Total Value | Average Loan |
|---|---|---|---|
| $<1k | 26 | $1,510,000 | $58,077 |
| $1k-2k | 9 | $1,745,000 | $193,889 |
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 bucket, with 26 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 4-5% | 21 | $1,375,000 | $65,476 |
| 3-4% | 13 | $1,975,000 | $151,923 |
| 5-6% | 3 | $255,000 | $85,000 |
During 2022, Blackstone River Federal Credit Union's average interest rate for loans was 0.00%, while their most frequently originated rate bucket for loans was 4-5%, with 21 originations.
Loan Sizing
2022 saw Blackstone River Federal Credit Union place emphasis on $100,000 or less loans with 23 originations, totaling $1,075,000 in origination value.
Applicant Income
Blackstone River Federal Credit Union lent most frequently to those with incomes in the $50k-75k range, with 15 originations. The second most popular income band? $100k-150k, with 5 originations.
Applicant Debt to Income Ratio
Blackstone River Federal Credit Union lent most frequently to those with DTI ratios of <20%, with 14 originations. The next most common DTI ratio? 30-36%, with 8 originations.
Ethnicity Mix
| Applicant Ethnicity | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| White | 35 | $3,225,000 | $92,143 | $600 | 4.28% |
| Black | 2 | $380,000 | $190,000 | $0 | 3.63% |
Approval Rates
Total approvals of all applications94.87%
Blackstone River Federal Credit Union has an average approval rate.
Pick Rate
Approvals leading to originationPoints and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 37 | $3,605,000 | $97,432 |