Members 1st Of Nj Federal Credit Union Mortgage Rates, Fees & Info
Vineland, NJLEI: 549300VFP60F9IJ2SQ62
Tax ID: 22-0665362
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Mortgage Data
Review & Overview
Members 1st Of Nj Federal Credit Union is a smaller credit union specializing in Home Improvement and Cash Out Refi loans. Members 1st Of Nj Federal Credit Union has a high proportion of conventional loans. Their top markets by origination volume include: Vineland, Philadelphia, Ocean City, and Atlantic City among others. We have data for 4 markets. (Some data included below & more in-depth data is available with an active subscription.)Members 1st Of Nj 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.
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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| 30 Year Conventional Refi | 6.57% | 11/21/24 |
| 15 Year Conventional Refi | 5.68% | 11/21/24 |
| 15 Year Cash-out Refi | 5.68% | 11/21/24 |
| 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. | ||
Members 1st Of Nj Federal Credit Union Mortgage Calculator
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Originations
41Origination Dollar Volume (All Markets)
$2,985,000Top 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 |
|---|---|---|---|---|---|
| VINELAND-BRIDGETON, NJ (FHA|USDA|VA) | 25 | $1,615,000 | $64,600 | $0 | 0.00% |
| Philadelphia-Camden-Wilmington, PA-NJ-DE-MD (FHA|USDA|VA) | 14 | $1,100,000 | $78,571 | $0 | 0.00% |
| OCEAN CITY, NJ (FHA|USDA|VA) | 1 | $145,000 | $145,000 | $0 | 0.00% |
| ATLANTIC CITY-HAMMONTON, NJ (FHA|USDA|VA) | 1 | $125,000 | $125,000 | $0 | 0.00% |
Their top states include:
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 41 | $2,985,000 | $72,805 | $0 | 0.00% |
For 2019, Members 1st Of Nj Federal Credit Union's most frequently originated type of loan was Conventional, with 41 originations.
Loan Reason
For 2019, Members 1st Of Nj Federal Credit Union's most frequently cited loan purpose was Home Improvement, with 21 originations. The 2nd most popular reason was Other, with 6 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Other | 41 | $2,985,000 | $72,805 | $0 | 0.00% |
For 2019, Members 1st Of Nj Federal Credit Union's most frequently cited loan duration was Other, with 41 originations.
Loan Sizing
| Loan Size | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| $100,000 or less | 28 | $1,270,000 | $45,357 | $0 | 0.00% |
| $100k-200k | 13 | $1,715,000 | $131,923 | $0 | 0.00% |
2019 saw Members 1st Of Nj Federal Credit Union place emphasis on $100,000 or less loans with 28 originations, totaling $1,270,000 in origination value.
Applicant Income
Members 1st Of Nj Federal Credit Union lent most frequently to those with incomes in the $100k-150k range, with 14 originations. The second most popular income band? $50k-75k, with 13 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Exempt% | 41 | $2,985,000 | $72,805 | $0 | 0.00% |
Members 1st Of Nj Federal Credit Union lent most frequently to those with DTI ratios of Exempt%, with 41 originations.
Ethnicity Mix
| Applicant Ethnicity | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| White | 31 | $2,265,000 | $73,065 | $0 | 0.00% |
| Not provided | 8 | $510,000 | $63,750 | $0 | 0.00% |
| Black | 2 | $210,000 | $105,000 | $0 | 0.00% |
Approval Rates
Total approvals of all applications78.46%
Members 1st Of Nj Federal Credit Union has a below average approval rate.
Pick Rate
Approvals leading to origination85.37%
Members 1st Of Nj Federal Credit Union has an average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| Exempt | 41 | $2,985,000 | $72,805 |
Occupancy Type Mix
| Dwelling Type | Originations | Total Value | Average Loan |
|---|---|---|---|
| Single Family (1-4 Units):Site-Built | 41 | $2,985,000 | $72,805 |
Complaints
| Bank Name | Product | Issue | 2019 CPFB Complaints | % of Total Issues |
|---|---|---|---|---|
| MEMBER FIRST MORTGAGE, LLC | FHA mortgage | Applying for a mortgage or refinancing an existing mortgage | 2 | 100.0% |