Millbury Federal Credit Union Mortgage Rates, Fees & Info
Millbury, MALEI: 549300TXFI7UH4GDK877
Tax ID: 04-2074204
Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data
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Mortgage Data
Review & Overview
Millbury Federal Credit Union is a smaller credit union specializing in Home Purchase loans. Millbury Federal Credit Union has a high proportion of conventional loans. Their top markets by origination volume include: Worcester, Providence, Boston, Cape Coral, and Vineyard Haven among others. We have data for 8 markets. (Some data included below & more in-depth data is available with an active subscription.)Millbury 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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Originations
144Origination Dollar Volume (All Markets)
$33,840,000Top 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 |
|---|---|---|---|---|---|
| WORCESTER, MA-CT (FHA|USDA|VA) | 133 | $29,615,000 | $222,669 | $0 | 0.00% |
| PROVIDENCE-WARWICK, RI-MA (FHA|USDA|VA) | 3 | $1,015,000 | $338,333 | $0 | 0.00% |
| Boston-Cambridge-Newton, MA-NH (FHA|USDA|VA) | 2 | $1,010,000 | $505,000 | $0 | 0.00% |
| CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) | 1 | $725,000 | $725,000 | $0 | 0.00% |
| Vineyard Haven, MA (FHA|USDA|VA) | 1 | $545,000 | $545,000 | $0 | 0.00% |
| Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) | 1 | $385,000 | $385,000 | $0 | 0.00% |
| NORWICH-NEW LONDON, CT (FHA|USDA|VA) | 1 | $345,000 | $345,000 | $0 | 0.00% |
| SPRINGFIELD, MA (FHA|USDA|VA) | 2 | $200,000 | $100,000 | $0 | 0.00% |
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 144 | $33,840,000 | $235,000 | $0 | 0.00% |
For 2018, Millbury Federal Credit Union's most frequently originated type of loan was Conventional, with 144 originations.
Loan Reason
For 2018, Millbury Federal Credit Union's most frequently cited loan purpose was Home Purchase, with 95 originations. The 2nd most popular reason was Cash Out Refi, with 21 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Other | 144 | $33,840,000 | $235,000 | $0 | 0.00% |
For 2018, Millbury Federal Credit Union's most frequently cited loan duration was Other, with 144 originations.
Loan Sizing
2018 saw Millbury Federal Credit Union place emphasis on $200k-400k loans with 58 originations, totaling $16,080,000 in origination value.
Applicant Income
Millbury Federal Credit Union lent most frequently to those with incomes in the $50k-75k range, with 35 originations. The second most popular income band? $75k-100k, with 32 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Exempt% | 144 | $33,840,000 | $235,000 | $0 | 0.00% |
Millbury Federal Credit Union lent most frequently to those with DTI ratios of Exempt%, with 144 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications81.48%
Millbury Federal Credit Union has a below average approval rate.
Pick Rate
Approvals leading to origination93.75%
Millbury Federal Credit Union has an average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| Exempt | 144 | $33,840,000 | $235,000 |
Occupancy Type Mix
| Dwelling Type | Originations | Total Value | Average Loan |
|---|---|---|---|
| Multifamily:Site-Built | 6 | $2,480,000 | $413,333 |
| Single Family (1-4 Units):Site-Built | 138 | $31,360,000 | $227,246 |
Complaints
| Bank Name | Product | Issue | 2018 CPFB Complaints | % of Total Issues |
|---|---|---|---|---|
| MLB Residential Lending, LLC | FHA mortgage | Closing on a mortgage | 1 | 100.0% |