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
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Mortgage Data
Review & Overview
Tewksbury Federal Credit Union is a smaller credit union specializing in Cash Out Refi loans. Tewksbury Federal Credit Union has a high proportion of conventional loans. Their top markets by origination volume include: Boston, Manchester, and Providence among others. We have data for 3 markets. (Some data included below & more in-depth data is available with an active subscription.)Tewksbury Federal Credit Union has an above average approval rate when compared to the average across all lenders.
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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
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
24Origination Dollar Volume (All Markets)
$2,960,000Top 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) | 19 | $2,615,000 | $137,632 | $788 | 5.21% |
| MANCHESTER-NASHUA, NH (FHA|USDA|VA) | 4 | $290,000 | $72,500 | $771 | 6.37% |
| PROVIDENCE-WARWICK, RI-MA (FHA|USDA|VA) | 1 | $55,000 | $55,000 | $740 | 5.75% |
Their top states include:
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 24 | $2,960,000 | $123,333 | $783 | 5.43% |
For 2022, Tewksbury Federal Credit Union's most frequently originated type of loan was Conventional, with 24 originations.
Loan Reason
| Loan Reason | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Cash Out Refi | 20 | $2,590,000 | $129,500 | $773 | 5.26% |
| Home Purchase | 4 | $370,000 | $92,500 | $831 | 6.25% |
For 2022, Tewksbury Federal Credit Union's most frequently cited loan purpose was Cash Out Refi, with 20 originations. The 2nd most popular reason was Home Purchase, with 4 originations.
Loan Duration/Length
For 2022, Tewksbury Federal Credit Union's most frequently cited loan duration was 20 Year, with 13 originations. The 2nd most popular length was 10 Year, with 7 originations.
Interest Rates
During 2022, Tewksbury Federal Credit Union's average interest rate for loans was 0.00%, while their most frequently originated rate bucket for loans was 5-6%, with 10 originations.
Loan Sizing
2022 saw Tewksbury Federal Credit Union place emphasis on $100,000 or less loans with 13 originations, totaling $725,000 in origination value.
Applicant Income
Tewksbury Federal Credit Union lent most frequently to those with incomes in the $150k-250k range, with 8 originations. The second most popular income band? $100k-150k, with 7 originations.
Applicant Debt to Income Ratio
Tewksbury Federal Credit Union lent most frequently to those with DTI ratios of 20-30%, with 6 originations. The next most common DTI ratio? 30-36%, with 5 originations.
Ethnicity Mix
| Applicant Ethnicity | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| White | 23 | $2,825,000 | $122,826 | $779 | 5.43% |
| Asian | 1 | $135,000 | $135,000 | $878 | 5.25% |
Approval Rates
Total approvals of all applications100.00%
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 | 24 | $2,960,000 | $123,333 |