St. Mary's Credit Union Mortgage Rates, Fees & Info
Marlborough, MALEI: 549300Y7VXZSDR0D6I81
Tax ID: 04-1802000
2021 Data | 2020 Data | 2019 Data | 2018 Data
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Mortgage Data
Overview
St. Mary's Credit Union is a smaller credit union specializing in Cash Out Refi, Refi, and Home Purchase loans. St. Mary's Credit Union has a high proportion of conventional loans. Their top markets include Boston, Worcester, Barnstable Town, Providence, and Springfield among others. St. Mary's Credit Union has an average approval rate for mortages when compared nationally. They have a below average pick rate when compared to the same sample of other lendors. St. Mary's Credit Union is typically an average fee lendor.Originations
373Origination Dollar Volume (All Markets)
$91,525,000Relative Rate
St. Mary's Credit Union's average 30 year fixed rate mortgage of loans were
3.15%.
The 2021 average 30 year fixed rate mortgage across all markets of loans were 3.15%.
This yields a difference of 0%.
Relative Fees
St. Mary's Credit Union's average total fees for a 30 year fixed rate
mortgage are $3,536.
The average total origination fees for 30 year fixed rate mortgages (for all loan values, including
both points & up-front fees in addition to origination fees) are $4,750.
Top Markets
| Market | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Boston-Cambridge-Newton, MA-NH (FHA|USDA|VA) | 177 | $46,205,000 | $261,045 | $2,666 | 3.23% |
| WORCESTER, MA-CT (FHA|USDA|VA) | 184 | $41,080,000 | $223,261 | $2,649 | 3.30% |
| BARNSTABLE TOWN, MA (FHA|USDA|VA) | 8 | $3,040,000 | $380,000 | $3,469 | 3.07% |
| PROVIDENCE-WARWICK, RI-MA (FHA|USDA|VA) | 2 | $740,000 | $370,000 | $3,750 | 3.00% |
| SPRINGFIELD, MA (FHA|USDA|VA) | 1 | $245,000 | $245,000 | $3,053 | 3.25% |
| PITTSFIELD, MA (FHA|USDA|VA) | 1 | $215,000 | $215,000 | $2,977 | 3.13% |
St. Mary's Credit Union's top markets include Boston, Worcester, Barnstable Town, Providence, and Springfield among others.
Product Mix
| Loan Type | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Conventional | 373 | $91,525,000 | $245,375 | $2,681 | 3.26% |
For the 2021 period, St. Mary's Credit Union's most frequently originated loan type of loans were Conventional, with 373 originations.
Loan Reason
| Loan Reason | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Cash Out Refi | 129 | $38,535,000 | $298,721 | $3,415 | 3.19% |
| Refi | 115 | $27,675,000 | $240,652 | $3,009 | 2.93% |
| Home Purchase | 66 | $21,960,000 | $332,727 | $3,261 | 3.04% |
| Home Improvement | 46 | $2,530,000 | $55,000 | $0 | 4.28% |
| Other | 17 | $825,000 | $48,529 | $0 | 4.16% |
For the 2021, St. Mary's Credit Union's most frequently cited loan purpose of loans were Cash Out Refi, with 129 originations. The 2nd most popular reason of loans were Refi, with 115 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| 30 Year | 174 | $55,130,000 | $316,839 | $3,536 | 3.15% |
| 15 Year | 72 | $16,670,000 | $231,528 | $2,475 | 2.98% |
| 20 Year | 64 | $12,240,000 | $191,250 | $2,326 | 3.58% |
| 10 Year | 33 | $5,835,000 | $176,818 | $1,610 | 3.28% |
| Other | 18 | $1,370,000 | $76,111 | $167 | 3.93% |
| 5 Year | 12 | $280,000 | $23,333 | $0 | 3.75% |
For the 2021, St. Mary's Credit Union's most frequently cited loan length of loans were 30 Year, with 174 originations. The 2nd most popular length of loans were 15 Year, with 72 originations.
Origination Fees
| Origination Fee | Originations | Total Value | Average Loan |
|---|---|---|---|
| $<1k | 268 | $58,480,000 | $218,209 |
| $1k-2k | 47 | $13,665,000 | $290,745 |
| $3k-4k | 24 | $5,750,000 | $239,583 |
| $2k-3k | 16 | $3,810,000 | $238,125 |
| $5k+ | 15 | $6,725,000 | $448,333 |
$3,536 of loans were St. Mary's Credit Union's average total fees, while their most frequently occuring range of origination fees were in the $<1k bucket, with 268 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 3-4% | 167 | $42,205,000 | $252,725 |
| 2.5-3% | 126 | $37,770,000 | $299,762 |
| 4-5% | 43 | $3,005,000 | $69,884 |
| <2.5% | 37 | $8,545,000 | $230,946 |
During 2021, St. Mary's Credit Union's average interest rate of loans were 3.15%, while their most frequently originated rate bucket of loans were 3-4%, with 167 originations.
Loan Sizing
| Loan Size | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| $200k-400k | 153 | $43,295,000 | $282,974 | $3,443 | 3.07% |
| $100k-200k | 94 | $14,760,000 | $157,021 | $2,445 | 3.08% |
| $100,000 or less | 77 | $4,025,000 | $52,273 | $305 | 4.00% |
| $400k-600k | 31 | $15,195,000 | $490,161 | $4,262 | 3.10% |
| $600k-1MM | 14 | $9,450,000 | $675,000 | $5,381 | 2.83% |
| $1MM+ | 4 | $4,800,000 | $1,200,000 | $3,870 | 3.26% |
2021 saw St. Mary's Credit Union place emphasis on $200k-400k loans with 153 originations, totaling $43,295,000 in origination value.
Applicant Income
| Applicant Income | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| $150k-250k | 115 | $30,845,000 | $268,217 | $2,869 | 3.25% |
| $100k-150k | 93 | $21,305,000 | $229,086 | $2,826 | 3.26% |
| $75k-100k | 61 | $11,185,000 | $183,361 | $2,365 | 3.30% |
| $50k-75k | 57 | $10,855,000 | $190,439 | $2,513 | 3.21% |
| $250k+ | 27 | $12,745,000 | $472,037 | $3,015 | 3.28% |
| $50k or less | 18 | $2,500,000 | $138,889 | $1,844 | 3.29% |
St. Mary's Credit Union lent most frequently to those with incomes in the $150k-250k range, with 115 originations. The second most popular income band? $100k-150k, with 93 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| 20-30% | 103 | $25,015,000 | $242,864 | $2,509 | 3.24% |
| 30-36% | 89 | $20,175,000 | $226,685 | $2,498 | 3.30% |
| <20% | 44 | $10,410,000 | $236,591 | $2,878 | 3.06% |
| 39% | 18 | $4,640,000 | $257,778 | $2,849 | 3.17% |
| 40% | 18 | $4,120,000 | $228,889 | $3,408 | 2.90% |
| 41% | 18 | $5,080,000 | $282,222 | $2,777 | 3.54% |
| 38% | 16 | $3,080,000 | $192,500 | $2,610 | 3.41% |
| 42% | 14 | $2,140,000 | $152,857 | $923 | 3.93% |
| 36% | 14 | $3,720,000 | $265,714 | $2,639 | 3.32% |
| 37% | 14 | $3,840,000 | $274,286 | $3,830 | 3.24% |
| 44% | 12 | $3,020,000 | $251,667 | $3,013 | 3.15% |
| 43% | 9 | $2,835,000 | $315,000 | $4,205 | 3.10% |
| 46% | 1 | $355,000 | $355,000 | $2,684 | 3.38% |
St. Mary's Credit Union lent most frequently to those with DTI ratios of 20-30%, with 103 originations. The next most common DTI ratio? 30-36%, with 89 originations.
Ethnicity Mix
| Applicant Ethnicity | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| White | 313 | $72,085,000 | $230,304 | $2,696 | 3.26% |
| Not provided | 35 | $10,685,000 | $305,286 | $2,389 | 3.31% |
| Asian | 10 | $2,730,000 | $273,000 | $2,449 | 3.09% |
| Not applicable | 2 | $2,090,000 | $1,045,000 | $0 | 3.50% |
| Black | 6 | $1,410,000 | $235,000 | $3,246 | 2.73% |
| Asian Indian | 3 | $785,000 | $261,667 | $3,239 | 3.92% |
| Other Asian | 1 | $685,000 | $685,000 | $3,465 | 2.63% |
| Filipino | 1 | $655,000 | $655,000 | $3,857 | 3.00% |
| American Indian | 2 | $400,000 | $200,000 | $2,847 | 3.94% |
Approval Rates
Total approvals of all applications86.76%
St. Mary's Credit Union has an average approval rate.
Pick Rate
Approvals leading to origination82.28%
St. Mary's Credit Union has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 373 | $91,525,000 | $245,375 |
Occupancy Type Mix
| Dwelling Type | Originations | Total Value | Average Loan |
|---|---|---|---|
| 373 | $91,525,000 | $245,375 |
LTV Distribution
| Loan to Value | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| 20-40% | 57 | $10,015,000 | $175,702 | $2,304 | 3.12% |
| 40-60% | 92 | $23,070,000 | $250,761 | $3,448 | 2.93% |
| 60-80% | 91 | $32,655,000 | $358,846 | $3,732 | 3.20% |
| 80-100% | 57 | $19,995,000 | $350,789 | $3,305 | 3.01% |
| Over 100% | 1 | $1,705,000 | $1,705,000 | $0 | 3.50% |
| Under 20% | 75 | $4,085,000 | $54,467 | $299 | 4.03% |
Complaints
| Bank Name | Product | Issue | 2021 CPFB Complaints | % of Total Issues |
|---|---|---|---|---|
| 21ST MORTGAGE CORP. | Conventional home mortgage | Applying for a mortgage or refinancing an existing mortgage | 5 | 8.1% |
| 21ST MORTGAGE CORP. | Conventional home mortgage | Closing on a mortgage | 3 | 4.8% |
| 21ST MORTGAGE CORP. | Conventional home mortgage | Incorrect information on your report | 1 | 1.6% |
| 21ST MORTGAGE CORP. | Conventional home mortgage | Struggling to pay mortgage | 19 | 30.6% |
| 21ST MORTGAGE CORP. | Conventional home mortgage | Trouble during payment process | 16 | 25.8% |
| 21ST MORTGAGE CORP. | FHA mortgage | Applying for a mortgage or refinancing an existing mortgage | 1 | 1.6% |
| 21ST MORTGAGE CORP. | FHA mortgage | Struggling to pay mortgage | 3 | 4.8% |
| 21ST MORTGAGE CORP. | Other type of mortgage | Applying for a mortgage or refinancing an existing mortgage | 3 | 4.8% |
| 21ST MORTGAGE CORP. | Other type of mortgage | Closing on a mortgage | 1 | 1.6% |
| 21ST MORTGAGE CORP. | Other type of mortgage | Struggling to pay mortgage | 7 | 11.3% |
| 21ST MORTGAGE CORP. | Other type of mortgage | Trouble during payment process | 2 | 3.2% |
| 21ST MORTGAGE CORP. | VA mortgage | Applying for a mortgage or refinancing an existing mortgage | 1 | 1.6% |
