Mtc Federal Credit Union Mortgage Rates, Fees & Info

Greenville, SC

LEI: 549300WDLOVGUYVTS727

Tax ID: 57-0638331

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Mortgage Data

Review & Overview

Mtc Federal Credit Union is a smaller credit union specializing in Other and Cash Out Refi loans. Mtc Federal Credit Union has a high proportion of conventional loans. Their top markets by origination volume include: Greenville, Spartanburg, Columbia, Tuscaloosa, and Ardmore among others. We have data for 9 markets. (Some data included below & more in-depth data is available with an active subscription.)

Mtc Federal Credit Union has an above average approval rate when compared to the average across all lenders.

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Originations

46

Origination Dollar Volume (All Markets)

$5,390,000

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
GREENVILLE-ANDERSON, SC (FHA|USDA|VA) 23 $2,325,000 $101,087 $0 0.00%
Outside of Metro Areas 2 $930,000 $465,000 $0 0.00%
SPARTANBURG, SC (FHA|USDA|VA) 8 $770,000 $96,250 $0 0.00%
COLUMBIA, SC (FHA|USDA|VA) 7 $625,000 $89,286 $0 0.00%
TUSCALOOSA, AL (FHA|USDA|VA) 1 $225,000 $225,000 $0 0.00%
Ardmore, OK (FHA|USDA|VA) 2 $210,000 $105,000 $0 0.00%
CHARLESTON-NORTH CHARLESTON, SC (FHA|USDA|VA) 1 $155,000 $155,000 $0 0.00%
Ozark, AL (FHA|USDA|VA) 1 $105,000 $105,000 $0 0.00%
Orangeburg, SC (FHA|USDA|VA) 1 $45,000 $45,000 $0 0.00%
Mtc Federal Credit Union's top markets include Greenville, Spartanburg, Columbia, Tuscaloosa, and Ardmore among others.

Their top states include:
  • South Carolina (FHA|USDA|VA)
  • Alabama (FHA|USDA|VA)
  • Oklahoma (FHA|USDA|VA)
  • Similar Lenders

    We use machine learning to identify the top lenders compared against MTC Federal Credit Union based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.

    S. C. STATE FEDERAL CREDIT UNION
    Similarity Rank: 323
    Coastal Carolina National Bank
    Similarity Rank: 1431
    Arthur State Bank
    Similarity Rank: 1836
    American Security Mortgage Corp.
    Similarity Rank: 2160
    GREENVILLE FEDERAL CREDIT UNION
    Similarity Rank: 2736
    Allen Tate Mortgage Partners, LLC
    Similarity Rank: 2838
    First Palmetto Bank
    Similarity Rank: 2982
    CAPITAL CENTER, L.L.C.
    Similarity Rank: 3432

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 46 $5,390,000 $117,174 $0 0.00%

    For 2021, Mtc Federal Credit Union's most frequently originated type of loan was Conventional, with 46 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Other 19 $1,765,000 $92,895 $0 0.00%
    Home Improvement 14 $1,060,000 $75,714 $0 0.00%
    Home Purchase 7 $1,035,000 $147,857 $0 0.00%
    Cash Out Refi 6 $1,530,000 $255,000 $0 0.00%

    For 2021, Mtc Federal Credit Union's most frequently cited loan purpose was Other, with 19 originations. The 2nd most popular reason was Home Improvement, with 14 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 46 $5,390,000 $117,174 $0 0.00%

    For 2021, Mtc Federal Credit Union's most frequently cited loan duration was Other, with 46 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 25 $1,535,000 $61,400 $0 0.00%
    $100k-200k 16 $2,050,000 $128,125 $0 0.00%
    $200k-400k 4 $980,000 $245,000 $0 0.00%
    $600k-1MM 1 $825,000 $825,000 $0 0.00%

    2021 saw Mtc Federal Credit Union place emphasis on $100,000 or less loans with 25 originations, totaling $1,535,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $75k-100k 15 $1,605,000 $107,000 $0 0.00%
    $50k-75k 12 $910,000 $75,833 $0 0.00%
    $100k-150k 9 $1,915,000 $212,778 $0 0.00%
    $150k-250k 5 $415,000 $83,000 $0 0.00%
    $50k or less 5 $545,000 $109,000 $0 0.00%

    Mtc Federal Credit Union lent most frequently to those with incomes in the $75k-100k range, with 15 originations. The second most popular income band? $50k-75k, with 12 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 46 $5,390,000 $117,174 $0 0.00%

    Mtc Federal Credit Union lent most frequently to those with DTI ratios of Exempt%, with 46 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 38 $4,620,000 $121,579 $0 0.00%
    Black 6 $590,000 $98,333 $0 0.00%
    Not provided 2 $180,000 $90,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    98.51%

    Mtc 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 origination

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 46 $5,390,000 $117,174

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    46 $5,390,000 $117,174