Brotherhood Credit Union Mortgage Rates, Fees & Info

Lynn, MA

LEI: 549300V1VC5I307TPF15

Tax ID: 04-1126132

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

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Mortgage Data

  • Originations
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • 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

    Brotherhood Credit Union is a smaller credit union specializing in Home Improvement, Refi, Cash Out Refi, and Home Purchase loans. Brotherhood Credit Union has a high proportion of conventional loans. Their top (well, only) market is Boston.

    Brotherhood Credit Union has an above average approval rate when compared to the average across all lenders. They have an above average pick rate when compared to similar lenders. Brotherhood Credit Union is typically an average 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.

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    Originations

    22

    Origination Dollar Volume (All Markets)

    $3,310,000

    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
    Boston-Cambridge-Newton, MA-NH (FHA|USDA|VA) 22 $3,310,000 $150,455 $3,319 4.07%
    Brotherhood Credit Union's top markets include and Boston among others.

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

    • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 22 $3,310,000 $150,455 $3,319 4.07%

    For 2018, Brotherhood Credit Union's most frequently originated type of loan was Conventional, with 22 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Improvement 8 $690,000 $86,250 $1,319 3.89%
    Refi 6 $970,000 $161,667 $4,606 4.04%
    Cash Out Refi 4 $730,000 $182,500 $5,527 3.91%
    Home Purchase 3 $895,000 $298,333 $3,440 4.50%
    Other 1 $25,000 $25,000 $525 5.00%

    For 2018, Brotherhood Credit Union's most frequently cited loan purpose was Home Improvement, with 8 originations. The 2nd most popular reason was Refi, with 6 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 9 $2,145,000 $238,333 $5,224 4.38%
    10 Year 5 $405,000 $81,000 $1,732 3.85%
    15 Year 4 $410,000 $102,500 $2,539 4.00%
    5 Year 3 $105,000 $35,000 $625 3.50%
    Other 1 $245,000 $245,000 $4,520 4.38%

    For 2018, Brotherhood Credit Union's most frequently cited loan duration was 30 Year, with 9 originations. The 2nd most popular length was 10 Year, with 5 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 13 $2,865,000 $220,385

    Brotherhood Credit Union's average total fees were $5,224, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 13 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    4-5% 13 $2,305,000 $177,308
    3-4% 9 $1,005,000 $111,667

    During 2018, Brotherhood Credit Union's average interest rate for loans was 4.38%, while their most frequently originated rate bucket for loans was 4-5%, with 13 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 10 $500,000 $50,000 $1,145 4.15%
    $200k-400k 8 $2,320,000 $290,000 $5,975 4.16%
    $100k-200k 4 $490,000 $122,500 $3,562 3.69%

    2018 saw Brotherhood Credit Union place emphasis on $100,000 or less loans with 10 originations, totaling $500,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 7 $1,635,000 $233,571 $4,925 4.02%
    $50k-75k 7 $745,000 $106,429 $3,764 4.16%
    $150k-250k 4 $240,000 $60,000 $501 4.19%
    $75k-100k 3 $435,000 $145,000 $1,238 4.08%
    $250k+ 1 $255,000 $255,000 $8,526 3.25%

    Brotherhood Credit Union lent most frequently to those with incomes in the $100k-150k range, with 7 originations. The second most popular income band? $50k-75k, with 7 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    30-36% 8 $810,000 $101,250 $1,581 4.20%
    20-30% 4 $680,000 $170,000 $3,780 4.06%
    39% 3 $695,000 $231,667 $3,847 4.04%
    <20% 3 $325,000 $108,333 $4,531 3.67%
    42% 1 $325,000 $325,000 $6,006 4.13%
    37% 1 $265,000 $265,000 $6,420 3.63%
    38% 1 $155,000 $155,000 $6,638 4.50%
    41% 1 $55,000 $55,000 $525 4.25%

    Brotherhood Credit Union lent most frequently to those with DTI ratios of 30-36%, with 8 originations. The next most common DTI ratio? 20-30%, with 4 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 22 $3,310,000 $150,455 $3,319 4.07%

    Approval Rates

    Total approvals of all applications
    93.10%

    Brotherhood Credit Union has an average approval rate.

    Pick Rate

    Approvals leading to origination
    90.91%

    Brotherhood Credit Union has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 22 $3,310,000 $150,455

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Single Family (1-4 Units):Site-Built 22 $3,310,000 $150,455

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 5 $685,000 $137,000 $4,101 3.68%
    40-60% 2 $420,000 $210,000 $6,529 4.06%
    60-80% 4 $1,140,000 $285,000 $6,086 4.34%
    80-100% 2 $660,000 $330,000 $2,538 4.50%
    Under 20% 9 $405,000 $45,000 $742 4.07%