We compare mortgage interest rate and loan related closing costs at Moog Employees FCU with other lenders for mortgages with similar borrower characteristics:
Interest Rate: similar to average (-0.00%)
Loan Related Closing Costs: higher than average (+$326)
Assessment: this lender tends to be a average cost lender.
This scoreboard is based on data reported to FFIEC. In the data, Moog Employees FCU originated 50 mortgages, a national market share of 0.0%. It was primarily active in NY, with a 0.0% market share.
On average, Moog Employees FCU’s interest rates were similar to those of comparable mortgages at other lenders (-0.00%).1The comparable mortgages control for Moog Employees FCU’s distribution of loan term (e.g. 30 year vs 15 year), loan-to-value (LTV), debt-to-income (DTI), loan amount, loan program (e.g. Conforming/FHA), loan purpose (e.g. purchase/refinance), and county. Interest rate and loan related closing costs are estimated based on fixed rate mortgages only, whereas market shares include all purchase or refinance mortgages. Its average total loan related closing cost was $3964, which was higher than those of comparable mortgages at $3637, with a difference of +$326. Overall, we estimate that Moog Employees FCU tends to be an average cost lender, with a cost-adjusted-rate difference of -0.01% compared to comparable mortgages at other lenders.2Cost adjusted rates were computed based on each percent of the loan amount in loan related closing costs being worth 1/6 of a percentage point in interest rate. Nevertheless, we recommend comparing your rate and fees with at least a few other lenders before signing with Moog Employees FCU.
Moog Employees FCU originated Conforming mortgages for new home purchases. We breakdown its interest rate and total loan related closing cost on by each of the mortgage types it originated below:
Home Purchase Mortgages from Moog Employees FCU compared to other lenders
|Interest Rate Difference||-0.00%|
|Loan related Closing Cost Difference||+$326|
|Cost Adjusted Rate Difference||-0.01%|
Based on the table above, Moog Employees FCU is similar to other lenders for Conforming purchase mortgages.
Other information about Moog Employees FCU:
Regulator: National Credit Union Administration (NCUA)
Registered city and state: East Aurora, NY, 14052