Tewksbury Federal Credit Union Mortgage Rates, Fees & Info
Tewksbury, MALEI: 549300UXQYBOU2E10G39
Tax ID: 04-2305584
Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data
Jump to:
Mortgage Data
Review & Overview
Tewksbury Federal Credit Union is a smaller credit union specializing in Cash Out Refi and Refi loans. Tewksbury Federal Credit Union has a high proportion of conventional loans. Their top two markets are Boston and Manchester .Tewksbury Federal Credit Union has an above average approval rate when compared to the average across all lenders. Tewksbury 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 relatively high 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 |
|---|---|---|
| 30 Year Conventional Purchase | 6.27% | 11/23/24 |
| 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. | ||
Tewksbury 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 Tewksbury 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
47Origination Dollar Volume (All Markets)
$1,485,000Top 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 |
|---|---|---|---|---|---|
| Boston-Cambridge-Newton, MA-NH (FHA|USDA|VA) | 44 | $1,340,000 | $30,455 | $574 | 4.25% |
| Outside of Metro Areas | 2 | $110,000 | $55,000 | $1,297 | 4.19% |
| MANCHESTER-NASHUA, NH (FHA|USDA|VA) | 1 | $35,000 | $35,000 | $724 | 3.00% |
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 47 | $1,485,000 | $31,596 | $609 | 4.22% |
For 2018, Tewksbury Federal Credit Union's most frequently originated type of loan was Conventional, with 47 originations.
Loan Reason
For 2018, Tewksbury Federal Credit Union's most frequently cited loan purpose was Cash Out Refi, with 37 originations. The 2nd most popular reason was Refi, with 7 originations.
Loan Duration/Length
For 2018, Tewksbury Federal Credit Union's most frequently cited loan duration was 20 Year, with 18 originations. The 2nd most popular length was 10 Year, with 14 originations.
Origination Fees/Closing Costs
| Origination Fee/Closing Cost | Originations | Total Value | Average Loan |
|---|---|---|---|
| $<1k | 43 | $835,000 | $19,419 |
| $1k-2k | 2 | $530,000 | $265,000 |
Tewksbury Federal Credit Union's average total fees were $3,237, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 43 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 3-4% | 21 | $325,000 | $15,476 |
| 4-5% | 18 | $530,000 | $29,444 |
| 5-6% | 4 | $580,000 | $145,000 |
| 2.5-3% | 3 | $45,000 | $15,000 |
| 6-7% | 1 | $5,000 | $5,000 |
During 2018, Tewksbury Federal Credit Union's average interest rate for loans was 5.50%, while their most frequently originated rate bucket for loans was 3-4%, with 21 originations.
Loan Sizing
2018 saw Tewksbury Federal Credit Union place emphasis on $100,000 or less loans with 42 originations, totaling $520,000 in origination value.
Applicant Income
Tewksbury Federal Credit Union lent most frequently to those with incomes in the $100k-150k range, with 12 originations. The second most popular income band? $150k-250k, with 11 originations.
Applicant Debt to Income Ratio
Tewksbury Federal Credit Union lent most frequently to those with DTI ratios of 20-30%, with 14 originations. The next most common DTI ratio? 30-36%, with 9 originations.
Ethnicity Mix
| Applicant Ethnicity | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| White | 47 | $1,485,000 | $31,596 | $609 | 4.22% |
Approval Rates
Total approvals of all applications95.92%
Tewksbury 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 originationPoints and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 47 | $1,485,000 | $31,596 |