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 Home Purchase and Cash Out Refi 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

    599

    Origination Dollar Volume (All Markets)

    $56,055,000

    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 bronze
    Show all (3) 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) 572 $53,120,000 $92,867 $798 5.08%
    LAWRENCE, KS (FHA|USDA|VA) 23 $2,595,000 $112,826 $1,128 4.57%
    Ottawa, KS (FHA|USDA|VA) 3 $285,000 $95,000 $871 4.73%
    Outside of Metro Areas 1 $55,000 $55,000 $0 6.50%
    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.

    Citizens Savings and Loan Association, FSB
    Similarity Rank: 141
    MAINSTREET FEDERAL CREDIT UNION
    Similarity Rank: 160
    MERITRUST Federal Credit Union
    Similarity Rank: 196
    UNITED CONSUMERS CREDIT UNION
    Similarity Rank: 416
    FRONTIER COMMUNITY CREDIT UNION
    Similarity Rank: 651
    Central Bank of Warrensburg
    Similarity Rank: 1032
    Hawthorn Bank
    Similarity Rank: 1564
    Central National Bank
    Similarity Rank: 2013
    Platte Valley Bank of Missouri
    Similarity Rank: 2184
    Union Bank and Trust Company
    Similarity Rank: 2268

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 459 $49,135,000 $107,048 $813 4.65%
    HELOC 140 $6,920,000 $49,429 n/a 6.41%

    For 2019, Mainstreet Federal Credit Union's most frequently originated type of loan was Conventional, with 459 originations. Their 2nd most popular type was HELOC, with 140 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Other 137 $5,615,000 $40,985 $106 5.71%
    Home Improvement 136 $5,420,000 $39,853 $112 5.79%
    Refi 133 $10,665,000 $80,188 $550 5.38%
    Home Purchase 106 $20,330,000 $191,792 $1,723 4.00%
    Cash Out Refi 87 $14,025,000 $161,207 $1,453 3.72%

    For 2019, Mainstreet Federal Credit Union's most frequently cited loan purpose was Other, with 137 originations. The 2nd most popular reason was Home Improvement, with 136 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    15 Year 164 $11,690,000 $71,280 $496 5.44%
    30 Year 153 $28,225,000 $184,477 $1,671 4.01%
    20 Year 118 $9,420,000 $79,831 $1,566 6.05%
    10 Year 111 $5,235,000 $47,162 $210 5.11%
    5 Year 50 $1,370,000 $27,400 $89 4.70%
    Other 2 $90,000 $45,000 $84 5.25%
    1 Year 1 $25,000 $25,000 $0 0.00%

    For 2019, Mainstreet Federal Credit Union's most frequently cited loan duration was 15 Year, with 164 originations. The 2nd most popular length was 30 Year, with 153 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 455 $48,135,000 $105,791
    $1k-2k 4 $1,000,000 $250,000

    Mainstreet Federal Credit Union's average total fees were $1,671, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 455 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    3-4% 162 $27,610,000 $170,432
    4-5% 148 $14,590,000 $98,581
    5-6% 145 $6,445,000 $44,448
    6-7% 117 $5,785,000 $49,444
    7-8% 22 $900,000 $40,909
    2.5-3% 4 $700,000 $175,000
    <2.5% 1 $25,000 $25,000

    During 2019, Mainstreet Federal Credit Union's average interest rate for loans was 4.01%, while their most frequently originated rate bucket for loans was 3-4%, with 162 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 401 $17,865,000 $44,551 $269 5.60%
    $100k-200k 127 $19,355,000 $152,402 $1,554 4.09%
    $200k-400k 68 $17,580,000 $258,529 $1,641 3.78%
    $400k-600k 3 $1,255,000 $418,333 $1,458 4.08%

    2019 saw Mainstreet Federal Credit Union place emphasis on $100,000 or less loans with 401 originations, totaling $17,865,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 180 $17,360,000 $96,444 $664 5.28%
    $50k-75k 137 $11,835,000 $86,387 $857 4.92%
    $75k-100k 119 $11,765,000 $98,866 $957 4.91%
    $150k-250k 76 $8,730,000 $114,868 $740 5.16%
    $50k or less 71 $5,025,000 $70,775 $959 4.90%
    $250k+ 10 $1,050,000 $105,000 $598 5.49%

    Mainstreet Federal Credit Union lent most frequently to those with incomes in the $100k-150k range, with 180 originations. The second most popular income band? $50k-75k, with 137 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 211 $20,115,000 $95,332 $803 5.10%
    30-36% 118 $11,030,000 $93,475 $766 5.00%
    <20% 85 $6,525,000 $76,765 $740 5.15%
    37% 24 $2,410,000 $100,417 $668 4.88%
    38% 22 $1,890,000 $85,909 $723 5.15%
    43% 18 $1,420,000 $78,889 $820 4.98%
    41% 18 $1,660,000 $92,222 $843 5.03%
    42% 17 $2,285,000 $134,412 $1,236 4.77%
    39% 17 $1,955,000 $115,000 $825 5.01%
    36% 16 $1,400,000 $87,500 $877 5.38%
    40% 14 $1,830,000 $130,714 $1,284 4.79%
    47% 8 $1,190,000 $148,750 $1,140 4.54%
    50-60% 6 $240,000 $40,000 $93 5.63%
    44% 5 $635,000 $127,000 $973 4.55%
    >60% 4 $390,000 $97,500 $0 6.69%
    46% 4 $360,000 $90,000 $1,033 4.72%
    49% 4 $320,000 $80,000 $638 5.38%
    45% 3 $215,000 $71,667 $782 5.58%
    48% 2 $100,000 $50,000 $1,462 5.06%

    Mainstreet Federal Credit Union lent most frequently to those with DTI ratios of 20-30%, with 211 originations. The next most common DTI ratio? 30-36%, with 118 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 518 $49,450,000 $95,463 $827 5.08%
    Black 34 $2,980,000 $87,647 $802 4.91%
    Not provided 31 $1,835,000 $59,194 $528 5.30%
    Asian 12 $1,690,000 $140,833 $965 4.51%
    Not applicable 3 $85,000 $28,333 $0 3.92%
    American Indian 1 $15,000 $15,000 $0 6.00%

    Approval Rates

    Total approvals of all applications
    84.32%

    Mainstreet Federal Credit Union has a below average approval rate.

    Pick Rate

    Approvals leading to origination
    63.94%

    Mainstreet Federal Credit Union has a low pick rate. They may have issues with closing loans or may approve everyone, but with onerous loan terms.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 599 $56,055,000 $93,581

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Single Family (1-4 Units):Manufactured 1 $65,000 $65,000
    Single Family (1-4 Units):Site-Built 598 $55,990,000 $93,629

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 145 $9,145,000 $63,069 $307 5.60%
    40-60% 45 $4,845,000 $107,667 $914 4.75%
    60-80% 96 $16,900,000 $176,042 $1,462 3.87%
    80-100% 96 $18,510,000 $192,813 $1,668 4.05%
    Under 20% 217 $6,655,000 $30,668 $119 5.74%