St. Mary's Credit Union Mortgage Rates, Fees & Info

Marlborough, MA

LEI: 549300Y7VXZSDR0D6I81

Tax ID: 04-1802000

5 stars - out of 5 stars, based on 23 reviews

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

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Mortgage Data

  • SimulatedRates™
  • Originations
  • Relative Rates
  • Relative Fees
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • Complaints
  • Similar Lenders
  • 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

    St. Mary's Credit Union is a smaller credit union specializing in Home Improvement, Cash Out Refi, and Home Purchase loans. St. Mary's Credit Union has a high proportion of conventional loans. Their top markets by origination volume include: Boston, Worcester, Barnstable Town, Springfield, and Providence among others. We have data for 5 markets. (Some data included below & more in-depth data is available with an active subscription.)

    St. Mary's 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. St. Mary's Credit Union is typically a low 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.

    Mortgage seekers: Choose your metro area here to explore the lowest fee & rate lenders.

    Mortgage professionals: We have various tools to make your lives easier. Contact us to see how we can help with your market research, analytics or advertising needs.


    SimulatedRates™

    Mortgage Type     		Simulated Rate Simulation Date
    Home Equity Line of Credit (HELOC) 6.27% 3/27/23
    30 Year Conventional Purchase 6.21% 3/27/23
    30 Year Conventional Refi 6.20% 3/27/23
    30 Year Cash-out Refi 6.35% 3/27/23
    15 Year Conventional Purchase 5.66% 3/27/23
    15 Year Conventional Refi 5.66% 3/27/23
    15 Year Cash-out Refi 5.66% 3/27/23
    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.


    Originations

    513

    Origination Dollar Volume (All Markets)

    $96,705,000

    Relative Rate

    St. Mary's Credit Union's average 30 year fixed mortgage rate was 4.28%.

    The 2022 average 30 year fixed rate mortgage across all markets and lenders was 4.76%.

    This yields a difference of -0.48%.

    Relative Fees (Closing Costs)

    St. Mary's Credit Union's average total fees/closing costs for a 30 year fixed rate mortgage were $3,692.

    The average total origination fees for 30 year fixed rate mortgages across all lenders (for all loan values, including both points & up-front fees in addition to origination fees) were $4,750.

    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) 257 $47,855,000 $186,206 $1,806 4.38%
    WORCESTER, MA-CT (FHA|USDA|VA) 249 $46,825,000 $188,052 $1,813 4.28%
    BARNSTABLE TOWN, MA (FHA|USDA|VA) 3 $1,315,000 $438,333 $3,950 4.21%
    SPRINGFIELD, MA (FHA|USDA|VA) 3 $565,000 $188,333 $1,952 5.06%
    PROVIDENCE-WARWICK, RI-MA (FHA|USDA|VA) 1 $145,000 $145,000 $0 5.00%
    St. Mary's Credit Union's top markets include Boston, Worcester, Barnstable Town, Springfield, and Providence among others.

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

    • Similar Lenders

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

    Sharon & Crescent United Credit Union
    Similarity Rank: 268
    LUSO-AMERICAN CREDIT UNION
    Similarity Rank: 474
    Piscataqua Savings Bank
    Similarity Rank: 526
    Middlesex Savings Bank
    Similarity Rank: 705
    ATHOL CREDIT UNION
    Similarity Rank: 783
    Walpole Co-operative Bank
    Similarity Rank: 789
    Norwood Co-operative Bank
    Similarity Rank: 820
    CorePlus Federal Credit Union
    Similarity Rank: 845
    Bridgewater Savings Bank
    Similarity Rank: 858
    QUINCY CREDIT UNION
    Similarity Rank: 900

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 284 $59,260,000 $208,662 $1,820 4.28%
    HELOC 229 $37,445,000 $163,515 n/a 4.39%

    For 2022, St. Mary's Credit Union's most frequently originated type of loan was Conventional, with 284 originations. Their 2nd most popular type was HELOC, with 229 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Improvement 196 $24,440,000 $124,694 $29 4.51%
    Cash Out Refi 117 $23,925,000 $204,487 $2,198 4.25%
    Other 93 $12,525,000 $134,677 $306 4.26%
    Home Purchase 80 $29,050,000 $363,125 $3,462 4.41%
    Refi 27 $6,765,000 $250,556 $2,497 3.49%

    For 2022, St. Mary's Credit Union's most frequently cited loan purpose was Home Improvement, with 196 originations. The 2nd most popular reason was Cash Out Refi, with 117 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 258 $39,550,000 $153,295 $0 4.38%
    30 Year 106 $36,690,000 $346,132 $3,692 4.28%
    20 Year 58 $9,960,000 $171,724 $796 4.58%
    15 Year 42 $7,390,000 $175,952 $1,492 4.02%
    10 Year 34 $2,570,000 $75,588 $472 4.33%
    5 Year 15 $545,000 $36,333 $0 3.89%

    For 2022, St. Mary's Credit Union's most frequently cited loan duration was Other, with 258 originations. The 2nd most popular length was 30 Year, with 106 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 239 $45,575,000 $190,690
    $1k-2k 20 $5,370,000 $268,500
    $4k-5k 8 $2,380,000 $297,500
    $2k-3k 6 $1,450,000 $241,667
    $5k+ 5 $2,355,000 $471,000
    $3k-4k 4 $1,250,000 $312,500

    St. Mary's Credit Union's average total fees were $3,692, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 239 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    4-5% 211 $38,755,000 $183,673
    3-4% 183 $35,205,000 $192,377
    5-6% 71 $12,415,000 $174,859
    2.5-3% 21 $5,515,000 $262,619
    6-7% 21 $3,545,000 $168,810
    <2.5% 6 $1,270,000 $211,667

    During 2022, St. Mary's Credit Union's average interest rate for loans was 4.28%, while their most frequently originated rate bucket for loans was 4-5%, with 211 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 169 $9,215,000 $54,527 $51 4.42%
    $100k-200k 156 $21,250,000 $136,218 $1,448 4.37%
    $200k-400k 136 $37,940,000 $278,971 $3,133 4.20%
    $400k-600k 38 $17,900,000 $471,053 $3,923 4.36%
    $600k-1MM 14 $10,400,000 $742,857 $4,589 4.03%

    2022 saw St. Mary's Credit Union place emphasis on $100,000 or less loans with 169 originations, totaling $9,215,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $150k-250k 151 $31,025,000 $205,464 $1,416 4.35%
    $100k-150k 145 $25,375,000 $175,000 $2,094 4.27%
    $75k-100k 83 $13,495,000 $162,590 $2,085 4.27%
    $250k+ 58 $16,090,000 $277,414 $1,303 4.42%
    $50k-75k 55 $8,255,000 $150,091 $2,153 4.19%
    $50k or less 18 $1,410,000 $78,333 $1,717 5.02%

    St. Mary's Credit Union lent most frequently to those with incomes in the $150k-250k range, with 151 originations. The second most popular income band? $100k-150k, with 145 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 138 $24,910,000 $180,507 $1,760 4.25%
    30-36% 97 $18,155,000 $187,165 $1,529 4.27%
    42% 56 $10,160,000 $181,429 $1,794 4.43%
    <20% 55 $8,935,000 $162,455 $1,416 4.33%
    41% 36 $7,470,000 $207,500 $1,800 4.56%
    40% 28 $4,930,000 $176,071 $1,435 4.37%
    37% 26 $5,000,000 $192,308 $2,142 4.28%
    39% 24 $5,060,000 $210,833 $2,545 4.27%
    36% 21 $5,055,000 $240,714 $1,578 4.30%
    38% 20 $3,090,000 $154,500 $2,722 4.40%
    43% 8 $2,410,000 $301,250 $2,934 4.93%
    45% 1 $155,000 $155,000 $2,046 4.88%
    48% 1 $495,000 $495,000 $10,795 4.00%

    St. Mary's Credit Union lent most frequently to those with DTI ratios of 20-30%, with 138 originations. The next most common DTI ratio? 30-36%, with 97 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 422 $75,540,000 $179,005 $1,780 4.31%
    Not provided 50 $9,590,000 $191,800 $1,763 4.53%
    Asian 18 $6,280,000 $348,889 $2,590 4.00%
    Black 11 $2,315,000 $210,455 $2,779 4.48%
    Asian Indian 6 $1,400,000 $233,333 $0 4.28%
    Not applicable 2 $880,000 $440,000 $0 4.87%
    Chinese 2 $360,000 $180,000 $0 5.38%
    Korean 1 $215,000 $215,000 $4,481 2.88%
    Vietnamese 1 $125,000 $125,000 $0 5.75%

    Approval Rates

    Total approvals of all applications
    85.45%

    St. Mary's Credit Union has an average approval rate.

    Pick Rate

    Approvals leading to origination
    88.30%

    St. Mary's Credit Union has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    0.0 229 $37,445,000 $163,515
    NA 284 $59,260,000 $208,662

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    513 $96,705,000 $188,509

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 146 $24,260,000 $166,164 $1,084 4.45%
    40-60% 61 $16,425,000 $269,262 $3,166 4.09%
    60-80% 64 $27,160,000 $424,375 $3,990 4.18%
    80-100% 47 $15,605,000 $332,021 $3,293 4.37%
    Under 20% 195 $13,255,000 $67,974 $50 4.36%

    Complaints

    Bank Name Product Issue 2022 CPFB Complaints % of Total Issues
    21ST MORTGAGE CORP. Conventional home mortgage Struggling to pay mortgage 1 50.0%
    21ST MORTGAGE CORP. Conventional home mortgage Trouble during payment process 1 50.0%