Mtc Federal Credit Union Mortgage Rates, Fees & Info
Greenville, SCLEI: 549300WDLOVGUYVTS727
Tax ID: 57-0638331
Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data
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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
46Origination Dollar Volume (All Markets)
$5,390,000Top 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 |
|---|---|---|---|---|---|
| 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% |
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.
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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
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
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
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 applications98.51%
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 originationPoints and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| Exempt | 46 | $5,390,000 | $117,174 |