Mainstreet Federal Credit Union Mortgage Rates, Fees & Info

Lenexa, KS

LEI: 549300UFWBQTD1W41E26

Tax ID: 48-0672349

Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data

Jump to:

  • SimulatedRates™
  • Mortgage Calculator

    • Mortgage Data

  • Originations
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • Similar Lenders
  • Loan Length
  • Loan to Value Info
  • Debt-to-Income
  • Applicant Income
  • Ethnicity Info
  • Approval & Pick Rates
  • Points and Fees
  • Origination Fees (Closing Costs)

    • Review & Overview

    Mainstreet Federal Credit Union is a smaller credit union specializing in Refi and Home Purchase loans. Mainstreet Federal Credit Union has a high proportion of conventional loans. Their top markets by origination volume include: Kansas City, Lawrence, and Ottawa among others. We have data for 4 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Mainstreet 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. Mainstreet Federal Credit Union is typically a low fee lender. (We use the term "fees" to include things like closing costs and other costs incurred by borrowers-- whether they are paid out of pocket or rolled into the loan.) They typically have about average rates.

    We show data for every lender and do not change our ratings-- even if an organization is a paid advertiser. Our consensus data does have lag, but it is highly correlated to a lender's rates & fees relative to their markets. This means that if a bank is a low fee/rate lender the past-- chances are they are still one today. Our SimulatedRates™ use advanced statistical techniques to forecast different rates based on a lender's historical data.

    Mortgage seekers: Choose your metro area here to explore the lowest fee & rate lenders.

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    SimulatedRates™

    Mortgage Type     		Simulated Rate Simulation Date
    Home Equity Line of Credit (HELOC) 6.27% 12/16/24
    30 Year Conventional Purchase 6.68% 12/16/24
    30 Year Conventional Refi 6.49% 12/16/24
    30 Year Cash-out Refi 6.65% 12/16/24
    30 Year FHA Purchase 6.27% 12/16/24
    30 Year VA Purchase 6.38% 12/16/24
    15 Year Conventional Purchase 5.44% 12/16/24
    15 Year Conventional Refi 6.40% 12/16/24
    15 Year Cash-out Refi 6.40% 12/16/24
    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.

    Mainstreet Federal Credit Union Mortgage Calculator






    Your Estimates

    Estimated Loan Payment: Update the calculator values and click calculate payment!

    This is not an official calculator from Mainstreet Federal Credit Union. It uses our SimulatedRate™ technology, basic math and reasonable assumptions to calculate mortgage payments derived from our simulations and your inputs.

    The default purchase price is the median sales price across the US for 2022Q4, per FRED.


    Originations

    528

    Origination Dollar Volume (All Markets)

    $43,950,000

    Awards

    MAINSTREET FEDERAL CREDIT UNION 30 Year Conventional Loans gold MAINSTREET FEDERAL CREDIT UNION 30 Year Conventional Loans gold MAINSTREET FEDERAL CREDIT UNION 30 Year Conventional Loans gold MAINSTREET FEDERAL CREDIT UNION 30 Year Conventional Loans silver
    Show all (4) awards

    Top 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
    KANSAS CITY, MO-KS (FHA|USDA|VA) 509 $42,555,000 $83,605 $783 5.35%
    LAWRENCE, KS (FHA|USDA|VA) 14 $1,010,000 $72,143 $609 5.47%
    Ottawa, KS (FHA|USDA|VA) 4 $270,000 $67,500 $68 5.44%
    Outside of Metro Areas 1 $115,000 $115,000 $2,067 5.13%
    Mainstreet Federal Credit Union's top markets include Kansas City, Lawrence, and Ottawa among others.

    Their top states include:
  • Kansas (FHA|USDA|VA)
  • Missouri (FHA|USDA|VA)

    • Similar Lenders

    We use machine learning to identify the top lenders compared against MAINSTREET FEDERAL CREDIT UNION based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.

    MAINSTREET FEDERAL CREDIT UNION
    Similarity Rank: 68
    KCB Bank
    Similarity Rank: 108
    MERITRUST Federal Credit Union
    Similarity Rank: 121
    Citizens Savings and Loan Association, FSB
    Similarity Rank: 146
    Clay County Savings Bank
    Similarity Rank: 148
    UNITED CONSUMERS CREDIT UNION
    Similarity Rank: 608
    First State Bank and Trust
    Similarity Rank: 750
    Central Bank of Warrensburg
    Similarity Rank: 819
    R-G Federal Credit Union
    Similarity Rank: 825
    FRONTIER COMMUNITY CREDIT UNION
    Similarity Rank: 1070

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 358 $35,730,000 $99,804 $754 5.04%
    HELOC 168 $7,880,000 $46,905 n/a 6.03%
    VA 2 $340,000 $170,000 $4,783 5.13%

    For 2018, Mainstreet Federal Credit Union's most frequently originated type of loan was Conventional, with 358 originations. Their 2nd most popular type was HELOC, with 168 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Other 146 $6,410,000 $43,904 $205 5.78%
    Home Improvement 133 $5,775,000 $43,421 $115 5.76%
    Refi 125 $9,325,000 $74,600 $456 5.42%
    Home Purchase 79 $15,405,000 $195,000 $1,877 4.40%
    Cash Out Refi 45 $7,035,000 $156,333 $1,483 4.23%

    For 2018, Mainstreet Federal Credit Union's most frequently cited loan purpose was Other, with 146 originations. The 2nd most popular reason was Home Improvement, with 133 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    15 Year 156 $10,560,000 $67,692 $481 5.66%
    20 Year 132 $9,040,000 $68,485 $1,563 5.85%
    10 Year 100 $4,270,000 $42,700 $183 5.36%
    30 Year 95 $18,535,000 $195,105 $1,899 4.40%
    5 Year 41 $1,425,000 $34,756 $101 4.82%
    Other 3 $95,000 $31,667 $112 5.42%
    3 Year 1 $25,000 $25,000 $84 4.75%

    For 2018, Mainstreet Federal Credit Union's most frequently cited loan duration was 15 Year, with 156 originations. The 2nd most popular length was 20 Year, with 132 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 351 $34,565,000 $98,476
    $5k+ 2 $610,000 $305,000
    $1k-2k 1 $335,000 $335,000

    Mainstreet Federal Credit Union's average total fees were $1,899, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 351 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    5-6% 223 $11,665,000 $52,309
    4-5% 142 $17,620,000 $124,085
    6-7% 100 $4,330,000 $43,300
    3-4% 54 $10,010,000 $185,370
    7-8% 9 $325,000 $36,111

    During 2018, Mainstreet Federal Credit Union's average interest rate for loans was 4.40%, while their most frequently originated rate bucket for loans was 5-6%, with 223 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 388 $16,960,000 $43,711 $240 5.66%
    $100k-200k 84 $11,950,000 $142,262 $1,396 4.64%
    $200k-400k 53 $13,775,000 $259,906 $2,124 4.34%
    $400k-600k 3 $1,265,000 $421,667 $1,693 3.71%

    2018 saw Mainstreet Federal Credit Union place emphasis on $100,000 or less loans with 388 originations, totaling $16,960,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 164 $13,890,000 $84,695 $826 5.50%
    $50k-75k 118 $8,550,000 $72,458 $750 5.22%
    $75k-100k 113 $10,375,000 $91,814 $784 5.24%
    $50k or less 68 $4,370,000 $64,265 $712 5.30%
    $150k-250k 56 $5,040,000 $90,000 $764 5.53%
    $250k+ 7 $1,535,000 $219,286 $896 4.98%

    Mainstreet Federal Credit Union lent most frequently to those with incomes in the $100k-150k range, with 164 originations. The second most popular income band? $50k-75k, with 118 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 166 $12,810,000 $77,169 $737 5.34%
    30-36% 131 $12,195,000 $93,092 $990 5.33%
    <20% 73 $5,605,000 $76,781 $565 5.22%
    37% 16 $1,560,000 $97,500 $911 5.23%
    42% 15 $1,285,000 $85,667 $796 5.37%
    36% 15 $1,545,000 $103,000 $1,018 5.28%
    38% 15 $1,415,000 $94,333 $743 5.31%
    39% 15 $1,475,000 $98,333 $1,387 5.18%
    40% 14 $1,480,000 $105,714 $595 5.37%
    41% 13 $1,335,000 $102,692 $1,010 5.29%
    >60% 11 $515,000 $46,818 $94 5.86%
    44% 8 $470,000 $58,750 $789 5.55%
    50-60% 8 $440,000 $55,000 $99 5.88%
    43% 8 $310,000 $38,750 $309 6.03%
    47% 6 $580,000 $96,667 $311 5.43%
    45% 4 $120,000 $30,000 $84 6.69%
    46% 4 $140,000 $35,000 $94 5.50%
    48% 3 $255,000 $85,000 $541 5.33%
    49% 3 $415,000 $138,333 $535 5.04%

    Mainstreet Federal Credit Union lent most frequently to those with DTI ratios of 20-30%, with 166 originations. The next most common DTI ratio? 30-36%, with 131 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 457 $37,465,000 $81,980 $743 5.36%
    Not provided 31 $2,925,000 $94,355 $1,004 5.47%
    Black 26 $2,190,000 $84,231 $1,115 5.19%
    Asian 10 $1,190,000 $119,000 $783 5.14%
    American Indian 3 $145,000 $48,333 $102 6.17%
    Other Pacific Islander 1 $35,000 $35,000 $84 5.25%

    Approval Rates

    Total approvals of all applications
    83.80%

    Mainstreet Federal Credit Union has a below average approval rate.

    Pick Rate

    Approvals leading to origination
    78.41%

    Mainstreet Federal Credit Union has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 528 $43,950,000 $83,239

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Single Family (1-4 Units):Site-Built 528 $43,950,000 $83,239

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 138 $7,750,000 $56,159 $174 5.70%
    40-60% 49 $5,265,000 $107,449 $887 4.90%
    60-80% 74 $12,570,000 $169,865 $1,439 4.48%
    80-100% 61 $11,815,000 $193,689 $1,948 4.48%
    Under 20% 206 $6,550,000 $31,796 $133 5.80%