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 loans. Mainstreet Federal Credit Union has a high proportion of conventional loans. Their top markets by origination volume include: Kansas City, Lawrence, Ottawa, and Topeka among others. We have data for 5 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.

    Mortgage professionals: We have various tools to make your lives easier. Contact us to see how we can help with your market research, analytics or advertising needs.

    SimulatedRates™

    Mortgage Type     		Simulated Rate Simulation Date
    Home Equity Line of Credit (HELOC) 6.27% 5/4/24
    30 Year Conventional Purchase 6.68% 5/4/24
    30 Year Conventional Refi 6.49% 5/4/24
    30 Year Cash-out Refi 6.65% 5/4/24
    30 Year FHA Purchase 6.27% 5/4/24
    30 Year VA Purchase 6.38% 5/4/24
    15 Year Conventional Purchase 5.44% 5/4/24
    15 Year Conventional Refi 6.40% 5/4/24
    15 Year Cash-out Refi 6.40% 5/4/24
    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

    584

    Origination Dollar Volume (All Markets)

    $63,700,000

    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) 556 $59,560,000 $107,122 $988 5.25%
    LAWRENCE, KS (FHA|USDA|VA) 19 $3,185,000 $167,632 $1,982 5.33%
    Ottawa, KS (FHA|USDA|VA) 7 $695,000 $99,286 $1,095 4.71%
    Outside of Metro Areas 1 $155,000 $155,000 $2,099 5.88%
    TOPEKA, KS (FHA|USDA|VA) 1 $105,000 $105,000 $2,158 3.38%
    Mainstreet Federal Credit Union's top markets include Kansas City, Lawrence, Ottawa, and Topeka 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: 175
    FRONTIER COMMUNITY CREDIT UNION
    Similarity Rank: 354
    Envista Credit Union
    Similarity Rank: 372
    RCB Bank
    Similarity Rank: 768
    R-G Federal Credit Union
    Similarity Rank: 936
    Central National Bank
    Similarity Rank: 1378
    Mid-America Bank
    Similarity Rank: 2310
    Mortgage Investment Services Corporation
    Similarity Rank: 2623
    Landmark National Bank
    Similarity Rank: 2666
    VILLAGE CAPITAL MORTGAGE
    Similarity Rank: 2970

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 390 $52,130,000 $133,667 $1,028 5.17%
    HELOC 193 $11,205,000 $58,057 n/a 5.41%
    VA 1 $365,000 $365,000 $1,781 6.13%

    For 2022, Mainstreet Federal Credit Union's most frequently originated type of loan was Conventional, with 390 originations. Their 2nd most popular type was HELOC, with 193 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Improvement 184 $9,050,000 $49,185 $108 5.51%
    Other 156 $7,600,000 $48,718 $121 6.08%
    Home Purchase 104 $26,300,000 $252,885 $2,165 4.85%
    Refi 76 $9,580,000 $126,053 $1,132 4.70%
    Cash Out Refi 64 $11,170,000 $174,531 $1,718 3.76%

    For 2022, Mainstreet Federal Credit Union's most frequently cited loan purpose was Home Improvement, with 184 originations. The 2nd most popular reason was Other, with 156 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    20 Year 176 $14,860,000 $84,432 $1,563 5.10%
    15 Year 143 $10,935,000 $76,469 $626 5.46%
    30 Year 126 $30,190,000 $239,603 $2,092 4.62%
    10 Year 85 $3,795,000 $44,647 $149 5.98%
    5 Year 53 $3,645,000 $68,774 $150 5.50%
    1 Year 1 $275,000 $275,000 $0 4.25%

    For 2022, Mainstreet Federal Credit Union's most frequently cited loan duration was 20 Year, with 176 originations. The 2nd most popular length was 15 Year, with 143 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 364 $46,590,000 $127,995
    $1k-2k 3 $355,000 $118,333
    $2k-3k 3 $845,000 $281,667
    $5k+ 3 $1,235,000 $411,667
    $4k-5k 2 $770,000 $385,000

    Mainstreet Federal Credit Union's average total fees were $2,092, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 364 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    5-6% 141 $13,985,000 $99,184
    3-4% 120 $16,190,000 $134,917
    4-5% 105 $14,795,000 $140,905
    6-7% 103 $6,735,000 $65,388
    7-8% 66 $3,760,000 $56,970
    2.5-3% 30 $5,780,000 $192,667
    <2.5% 12 $2,050,000 $170,833
    Over 8% 7 $405,000 $57,857

    During 2022, Mainstreet Federal Credit Union's average interest rate for loans was 4.62%, while their most frequently originated rate bucket for loans was 5-6%, with 141 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 359 $16,055,000 $44,721 $225 5.77%
    $100k-200k 127 $18,175,000 $143,110 $1,520 4.46%
    $200k-400k 82 $22,080,000 $269,268 $1,934 4.32%
    $400k-600k 16 $7,390,000 $461,875 $3,395 4.53%

    2022 saw Mainstreet Federal Credit Union place emphasis on $100,000 or less loans with 359 originations, totaling $16,055,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 149 $16,895,000 $113,389 $1,108 5.34%
    $75k-100k 126 $14,090,000 $111,825 $1,123 5.13%
    $50k-75k 114 $9,910,000 $86,930 $947 5.26%
    $150k-250k 94 $11,950,000 $127,128 $982 5.42%
    $50k or less 56 $4,240,000 $75,714 $891 4.93%
    $250k+ 22 $3,330,000 $151,364 $1,093 5.26%

    Mainstreet Federal Credit Union lent most frequently to those with incomes in the $100k-150k range, with 149 originations. The second most popular income band? $75k-100k, with 126 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 171 $15,625,000 $91,374 $880 5.27%
    30-36% 119 $13,485,000 $113,319 $1,006 5.17%
    <20% 83 $7,085,000 $85,361 $650 4.94%
    41% 20 $2,080,000 $104,000 $1,278 5.73%
    37% 19 $2,625,000 $138,158 $1,236 5.61%
    36% 17 $1,915,000 $112,647 $1,481 5.14%
    40% 17 $2,485,000 $146,176 $1,446 5.11%
    38% 16 $1,620,000 $101,250 $1,073 5.60%
    42% 14 $1,980,000 $141,429 $1,178 5.42%
    39% 13 $1,565,000 $120,385 $1,653 4.88%
    49% 11 $2,135,000 $194,091 $2,994 4.98%
    46% 11 $1,305,000 $118,636 $1,002 5.27%
    43% 10 $1,210,000 $121,000 $1,234 4.88%
    44% 10 $1,920,000 $192,000 $1,617 4.88%
    47% 9 $1,545,000 $171,667 $1,165 5.60%
    50-60% 9 $355,000 $39,444 $94 6.91%
    45% 7 $885,000 $126,429 $1,506 5.74%
    >60% 6 $240,000 $40,000 $214 6.08%
    48% 3 $495,000 $165,000 $1,308 4.00%

    Mainstreet Federal Credit Union lent most frequently to those with DTI ratios of 20-30%, with 171 originations. The next most common DTI ratio? 30-36%, with 119 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 490 $51,820,000 $105,755 $1,003 5.25%
    Not provided 24 $3,280,000 $136,667 $1,254 4.76%
    Black 34 $3,110,000 $91,471 $1,043 5.77%
    Not applicable 18 $2,960,000 $164,444 $1,930 5.29%
    Asian 14 $2,400,000 $171,429 $1,590 4.67%
    American Indian 3 $95,000 $31,667 $96 5.48%
    Native Hawaiian or Islander 1 $35,000 $35,000 $84 6.25%

    Approval Rates

    Total approvals of all applications
    88.28%

    Mainstreet Federal Credit Union has an average approval rate.

    Pick Rate

    Approvals leading to origination
    75.00%

    Mainstreet Federal Credit Union has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 584 $63,700,000 $109,075

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    584 $63,700,000 $109,075

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 115 $7,975,000 $69,348 $319 5.59%
    40-60% 74 $10,140,000 $137,027 $1,233 4.43%
    60-80% 86 $17,970,000 $208,953 $1,924 4.25%
    80-100% 73 $18,655,000 $255,548 $2,045 4.76%
    Under 20% 236 $8,960,000 $37,966 $157 5.85%