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 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, Providence, Springfield, and North Port among others. We have data for 6 markets. (Some data included below & more in-depth data is available with an active subscription.)Millbury 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.
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Originations
115Origination Dollar Volume (All Markets)
$35,635,000Top 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) | 101 | $31,355,000 | $310,446 | $0 | 0.00% |
| Boston-Cambridge-Newton, MA-NH (FHA|USDA|VA) | 4 | $1,460,000 | $365,000 | $0 | 0.00% |
| PROVIDENCE-WARWICK, RI-MA (FHA|USDA|VA) | 3 | $1,135,000 | $378,333 | $0 | 0.00% |
| SPRINGFIELD, MA (FHA|USDA|VA) | 5 | $795,000 | $159,000 | $0 | 0.00% |
| North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) | 1 | $505,000 | $505,000 | $0 | 0.00% |
| HARTFORD-EAST HARTFORD-MIDDLETOWN, CT (FHA|USDA|VA) | 1 | $385,000 | $385,000 | $0 | 0.00% |
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 115 | $35,635,000 | $309,870 | $0 | 0.00% |
For 2022, Millbury Federal Credit Union's most frequently originated type of loan was Conventional, with 115 originations.
Loan Reason
For 2022, Millbury Federal Credit Union's most frequently cited loan purpose was Home Purchase, with 63 originations. The 2nd most popular reason was Cash Out Refi, with 29 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Other | 115 | $35,635,000 | $309,870 | $0 | 0.00% |
For 2022, Millbury Federal Credit Union's most frequently cited loan duration was Other, with 115 originations.
Loan Sizing
2022 saw Millbury Federal Credit Union place emphasis on $200k-400k loans with 49 originations, totaling $14,305,000 in origination value.
Applicant Income
Millbury Federal Credit Union lent most frequently to those with incomes in the $100k-150k range, with 31 originations. The second most popular income band? $75k-100k, with 23 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Exempt% | 115 | $35,635,000 | $309,870 | $0 | 0.00% |
Millbury Federal Credit Union lent most frequently to those with DTI ratios of Exempt%, with 115 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications95.30%
Millbury Federal Credit Union has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.
Pick Rate
Approvals leading to origination78.26%
Millbury Federal Credit Union has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| Exempt | 115 | $35,635,000 | $309,870 |