Millbury Federal Credit Union Mortgage Rates, Fees & Info
Millbury, MALEI: 549300TXFI7UH4GDK877
Tax ID: 04-2074204
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Mortgage Data
Review & Overview
Millbury Federal Credit Union is a smaller credit union specializing in Home Purchase and Cash Out Refi loans. Millbury Federal Credit Union has a high proportion of conventional loans. Their top markets by origination volume include: Worcester, Boston, and Providence among others. We have data for 3 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 a below average pick rate when compared to similar lenders.
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Originations
134Origination Dollar Volume (All Markets)
$34,960,000Top 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) | 129 | $31,505,000 | $244,225 | $0 | 0.00% |
| Boston-Cambridge-Newton, MA-NH (FHA|USDA|VA) | 3 | $2,465,000 | $821,667 | $0 | 0.00% |
| PROVIDENCE-WARWICK, RI-MA (FHA|USDA|VA) | 2 | $990,000 | $495,000 | $0 | 0.00% |
Their top states include:
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 134 | $34,960,000 | $260,896 | $0 | 0.00% |
For 2019, Millbury Federal Credit Union's most frequently originated type of loan was Conventional, with 134 originations.
Loan Reason
For 2019, Millbury Federal Credit Union's most frequently cited loan purpose was Home Purchase, with 70 originations. The 2nd most popular reason was Cash Out Refi, with 32 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Other | 134 | $34,960,000 | $260,896 | $0 | 0.00% |
For 2019, Millbury Federal Credit Union's most frequently cited loan duration was Other, with 134 originations.
Loan Sizing
2019 saw Millbury Federal Credit Union place emphasis on $200k-400k loans with 58 originations, totaling $15,400,000 in origination value.
Applicant Income
Millbury Federal Credit Union lent most frequently to those with incomes in the $50k-75k range, with 32 originations. The second most popular income band? $150k-250k, with 27 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Exempt% | 134 | $34,960,000 | $260,896 | $0 | 0.00% |
Millbury Federal Credit Union lent most frequently to those with DTI ratios of Exempt%, with 134 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications89.27%
Millbury Federal Credit Union has an average approval rate.
Pick Rate
Approvals leading to origination82.84%
Millbury Federal Credit Union has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| Exempt | 134 | $34,960,000 | $260,896 |