Mit Federal Credit Union Mortgage Lending & HMDA Data, 2023
In 2023, Mit Federal Credit Union of Lexington, MA reported 430 mortgage applications totaling $171.7 million. The average application was for $399,372, and applicants reported an average income of $217,272. 64% of its applications resulted in an originated loan and 4% were denied. Its largest markets were Cambridge-Newton-Framingham, MA (171), Boston, MA (70) and Worcester, MA-CT (14) (applications in parentheses).
| Mortgage Company & Address | Mit Federal Credit Union 700 Technology Square Lexington, MA 02421 Tel #: available with data download |
| Federal Regulator | * available with data download |
| Years | 2025 2024 2023 |
| Total Number of Mortgage Applications | 430 |
| Total Mortgage Loan Application Amount | $171,730,000 |
| Average Mortgage Loan Application Amount | $399,372 |
| Highest Mortgage Loan Application Amount | $6,155,000 |
| Average Applicant Income | $217,272 |
| Highest Applicant Income | $1,620,000 |
About this data: figures come from the Home Mortgage Disclosure Act (HMDA) records Mit Federal Credit Union filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans. Applications reported at $100 million or more are left out of these totals.
| County | Total Number of Mortgage Loan Applications | Total Dollar Amount of Mortgage Loans Applications | Average Mortgage Loan Application Amount | Average Applicant Income |
|---|---|---|---|---|
| Middlesex, Massachusetts | 149 | $ 71,605,000 | $ 480,570 | $ 222,000 |
| Norfolk, Massachusetts | 35 | $ 9,335,000 | $ 266,714 | $ 202,000 |
| Suffolk, Massachusetts | 25 | $ 12,125,000 | $ 485,000 | $ 270,000 |
| Essex, Massachusetts | 22 | $ 4,690,000 | $ 213,181 | $ 163,000 |
| Worcester, Massachusetts | 13 | $ 2,455,000 | $ 188,846 | $ 198,000 |
| Plymouth, Massachusetts | 10 | $ 1,740,000 | $ 174,000 | $ 194,000 |
| Hillsborough, New Hampshire | 7 | $ 2,105,000 | $ 300,714 | $ 168,000 |
| New York, New York | 7 | $ 3,415,000 | $ 487,857 | $ 172,000 |
| District of Columbia, District Of Columbia | 6 | $ 1,580,000 | $ 263,333 | $ 258,000 |
| Harris, Texas | 6 | $ 2,500,000 | $ 416,666 | $ 180,000 |
| Los Angeles, California | 5 | $ 2,095,000 | $ 419,000 | $ 284,000 |
| San Francisco, California | 5 | $ 2,725,000 | $ 545,000 | $ 362,000 |
| Cook, Illinois | 5 | $ 2,175,000 | $ 435,000 | $ 221,000 |
| Barnstable, Massachusetts | 5 | $ 2,645,000 | $ 529,000 | $ 207,000 |
| Providence, Rhode Island | 5 | $ 1,255,000 | $ 251,000 | $ 164,000 |
| DuPage, Illinois | 4 | $ 1,970,000 | $ 492,500 | $ 221,000 |
| Bristol, Massachusetts | 4 | $ 660,000 | $ 165,000 | $ 136,000 |
| Rockingham, New Hampshire | 4 | $ 1,360,000 | $ 340,000 | $ 229,000 |
| Durham, North Carolina | 4 | $ 1,640,000 | $ 410,000 | $ 182,000 |
| Philadelphia, Pennsylvania | 4 | $ 1,070,000 | $ 267,500 | $ 158,000 |
| Maricopa, Arizona | 3 | $ 1,025,000 | $ 341,666 | $ 107,000 |
| Santa Clara, California | 3 | $ 2,985,000 | $ 995,000 | $ 380,000 |
| Kings, New York | 3 | $ 2,895,000 | $ 965,000 | $ 476,000 |
| King, Washington | 3 | $ 2,125,000 | $ 708,333 | $ 214,000 |
| Alameda, California | 2 | $ 420,000 | $ 210,000 | $ 251,000 |
| Orange, California | 2 | $ 810,000 | $ 405,000 | $ 342,000 |
| Palm Beach, Florida | 2 | $ 560,000 | $ 280,000 | $ 106,000 |
| Volusia, Florida | 2 | $ 660,000 | $ 330,000 | $ 232,000 |
| Fulton, Georgia | 2 | $ 770,000 | $ 385,000 | $ 152,000 |
| Montgomery, Maryland | 2 | $ 1,360,000 | $ 680,000 | $ 273,000 |
| Carroll, New Hampshire | 2 | $ 600,000 | $ 300,000 | $ 288,000 |
| Cheshire, New Hampshire | 2 | $ 800,000 | $ 400,000 | $ 188,000 |
| Cuyahoga, Ohio | 2 | $ 310,000 | $ 155,000 | $ 19,000 |
| Allegheny, Pennsylvania | 2 | $ 780,000 | $ 390,000 | $ 142,000 |
| Davidson, Tennessee | 2 | $ 1,330,000 | $ 665,000 | $ 321,000 |
| Alexandria, Virginia | 2 | $ 1,070,000 | $ 535,000 | $ 175,000 |
| Fairfax, Virginia | 2 | $ 850,000 | $ 425,000 | $ 237,000 |
| Montgomery, Alabama | 1 | $ 235,000 | $ 235,000 | $ 396,000 |
| Pima, Arizona | 1 | $ 75,000 | $ 75,000 | $ 87,000 |
| San Diego, California | 1 | $ 885,000 | $ 885,000 | $ 292,000 |
| Ventura, California | 1 | $ 625,000 | $ 625,000 | $ 163,000 |
| Boulder, Colorado | 1 | $ 285,000 | $ 285,000 | $ 174,000 |
| Chaffee, Colorado | 1 | $ 585,000 | $ 585,000 | $ 276,000 |
| Denver, Colorado | 1 | $ 345,000 | $ 345,000 | $ 96,000 |
| Jefferson, Colorado | 1 | $ 35,000 | $ 35,000 | $ 106,000 |
| Teller, Colorado | 1 | $ 455,000 | $ 455,000 | $ 180,000 |
| Hartford, Connecticut | 1 | $ 425,000 | $ 425,000 | $ 150,000 |
| Litchfield, Connecticut | 1 | $ 125,000 | $ 125,000 | $ 188,000 |
| Tolland, Connecticut | 1 | $ 295,000 | $ 295,000 | $ 110,000 |
| Windham, Connecticut | 1 | $ 45,000 | $ 45,000 | $ 181,000 |
| Sussex, Delaware | 1 | $ 265,000 | $ 265,000 | $ 180,000 |
| Alachua, Florida | 1 | $ 245,000 | $ 245,000 | $ 192,000 |
| Brevard, Florida | 1 | $ 405,000 | $ 405,000 | $ 111,000 |
| Broward, Florida | 1 | $ 115,000 | $ 115,000 | $ 240,000 |
| Orange, Florida | 1 | $ 655,000 | $ 655,000 | $ 24,000 |
| Pinellas, Florida | 1 | $ 275,000 | $ 275,000 | $ 99,000 |
| Sarasota, Florida | 1 | $ 505,000 | $ 505,000 | $ 200,000 |
| Lake, Illinois | 1 | $ 805,000 | $ 805,000 | $ 259,000 |
| McHenry, Illinois | 1 | $ 55,000 | $ 55,000 | $ 207,000 |
| Franklin, Kentucky | 1 | $ 235,000 | $ 235,000 | $ 89,000 |
| Ascension, Louisiana | 1 | $ 435,000 | $ 435,000 | $ 168,000 |
| East Baton Rouge, Louisiana | 1 | $ 355,000 | $ 355,000 | $ 200,000 |
| Cumberland, Maine | 1 | $ 175,000 | $ 175,000 | $ 210,000 |
| Franklin, Maine | 1 | $ 165,000 | $ 165,000 | $ 93,000 |
| Washington, Maine | 1 | $ 435,000 | $ 435,000 | $ 868,000 |
| Baltimore, Maryland | 1 | $ 355,000 | $ 355,000 | $ 145,000 |
| Baltimore City, Maryland | 1 | $ 25,000 | $ 25,000 | $ 72,000 |
| Hampshire, Massachusetts | 1 | $ 35,000 | $ 35,000 | $ 94,000 |
| Washtenaw, Michigan | 1 | $ 115,000 | $ 115,000 | $ 175,000 |
| Jackson, Missouri | 1 | $ 165,000 | $ 165,000 | $ 130,000 |
| St. Charles, Missouri | 1 | $ 205,000 | $ 205,000 | $ 541,000 |
| Clark, Nevada | 1 | $ 375,000 | $ 375,000 | $ 405,000 |
| Merrimack, New Hampshire | 1 | $ 125,000 | $ 125,000 | $ 184,000 |
| Sullivan, New Hampshire | 1 | $ 265,000 | $ 265,000 | $ 165,000 |
| Middlesex, New Jersey | 1 | $ 505,000 | $ 505,000 | $ 180,000 |
| Passaic, New Jersey | 1 | $ 475,000 | $ 475,000 | $ 165,000 |
| Bronx, New York | 1 | $ 55,000 | $ 55,000 | $ 121,000 |
| Madison, New York | 1 | $ 325,000 | $ 325,000 | $ 591,000 |
| Orange, New York | 1 | $ 555,000 | $ 555,000 | $ 568,000 |
| Suffolk, New York | 1 | $ 605,000 | $ 605,000 | $ 123,000 |
| Tompkins, New York | 1 | $ 205,000 | $ 205,000 | $ 170,000 |
| Westchester, New York | 1 | $ 75,000 | $ 75,000 | $ 203,000 |
| Orange, North Carolina | 1 | $ 425,000 | $ 425,000 | $ 243,000 |
| Union, North Carolina | 1 | $ 465,000 | $ 465,000 | $ 169,000 |
| Wake, North Carolina | 1 | $ 595,000 | $ 595,000 | $ 326,000 |
| Butler, Ohio | 1 | $ 265,000 | $ 265,000 | $ 137,000 |
| Hamilton, Ohio | 1 | $ 235,000 | $ 235,000 | $ 140,000 |
| Cleveland, Oklahoma | 1 | $ 245,000 | $ 245,000 | $ 237,000 |
| Centre, Pennsylvania | 1 | $ 385,000 | $ 385,000 | $ 102,000 |
| Delaware, Pennsylvania | 1 | $ 515,000 | $ 515,000 | $ 241,000 |
| Montgomery, Pennsylvania | 1 | $ 605,000 | $ 605,000 | $ 487,000 |
| Kent, Rhode Island | 1 | $ 275,000 | $ 275,000 | $ 88,000 |
| Beaufort, South Carolina | 1 | $ 265,000 | $ 265,000 | $ 326,000 |
| Greenville, South Carolina | 1 | $ 265,000 | $ 265,000 | $ 173,000 |
| Newberry, South Carolina | 1 | $ 575,000 | $ 575,000 | $ 180,000 |
| Brazoria, Texas | 1 | $ 665,000 | $ 665,000 | $ 239,000 |
| Cameron, Texas | 1 | $ 225,000 | $ 225,000 | $ 135,000 |
| Travis, Texas | 1 | $ 355,000 | $ 355,000 | $ 261,000 |
| Summit, Utah | 1 | $ 725,000 | $ 725,000 | $ 513,000 |
| Bennington, Vermont | 1 | $ 205,000 | $ 205,000 | $ 83,000 |
| Grand Isle, Vermont | 1 | $ 605,000 | $ 605,000 | $ 325,000 |
| Chesterfield, Virginia | 1 | $ 565,000 | $ 565,000 | $ 276,000 |
| Snohomish, Washington | 1 | $ 405,000 | $ 405,000 | $ 341,000 |
| Dane, Wisconsin | 1 | $ 365,000 | $ 365,000 | $ 116,000 |
Mortgage Loan Application Detail Totals for Mit Federal Credit Union in 2023
Loan Purpose |
Total Number of Mortgage Applications | Total Dollar Amount of Mortgage Loan Applications | Average Mortgage Loan Amount | Highest Mortgage Loan Amount | Average Applicant Income | Highest Applicant Income |
|---|---|---|---|---|---|---|
| Home Purchase | 247 | $137,485,000 | $556,000 | $6,155,000 | $227,000 | $1,300,000 |
| Home Improvement | 87 | $10,515,000 | $120,000 | $655,000 | $209,000 | $677,000 |
| Other Purpose | 47 | $6,355,000 | $135,000 | $725,000 | $201,000 | $1,620,000 |
| Cash-out Refinancing | 30 | $9,490,000 | $316,000 | $1,125,000 | $209,000 | $868,000 |
| Refinancing | 19 | $7,885,000 | $415,000 | $1,535,000 | $182,000 | $394,000 |
| Not Applicable | 0 | $0 | $0 | $0 | $0 | $0 |
Applicant Race |
Total Number of Mortgage Applications | Total Dollar Amount of Mortgage Loan Applications | Average Mortgage Loan Amount | Highest Mortgage Loan Amount | Average Applicant Income | Highest Applicant Income |
|---|---|---|---|---|---|---|
| White | 232 | $84,970,000 | $366,000 | $1,655,000 | $218,000 | $1,620,000 |
| Asian | 76 | $40,970,000 | $539,000 | $6,155,000 | $230,000 | $677,000 |
| Not Provided | 58 | $23,930,000 | $412,000 | $1,655,000 | $230,000 | $1,300,000 |
| Hispanic | 32 | $15,470,000 | $483,000 | $2,305,000 | $221,000 | $801,000 |
| Black or African American | 27 | $5,085,000 | $188,000 | $665,000 | $148,000 | $320,000 |
| American Indian or Alaskan Native | 4 | $950,000 | $237,000 | $565,000 | $228,000 | $276,000 |
| Native Hawaiian or Other Pacific Islander | 1 | $355,000 | $355,000 | $355,000 | $212,000 | $212,000 |
| Not applicable | 0 | $0 | $0 | $0 | $0 | $0 |
Loan Type |
Total Number of Mortgage Applications | Total Dollar Amount of Mortgage Loan Applications | Average Mortgage Loan Amount | Highest Mortgage Loan Amount | Average Applicant Income | Highest Applicant Income |
|---|---|---|---|---|---|---|
| Conventional (any loan other than FHA, VA, FSA, or RHS loans) | 430 | $171,730,000 | $399,000 | $6,155,000 | $217,000 | $1,620,000 |
| FHA-insured (Federal Housing Administration) | 0 | $0 | $0 | $0 | $0 | $0 |
| FSA/RHS (Farm Service Agency or Rural Housing Service) | 0 | $0 | $0 | $0 | $0 | $0 |
| VA-guaranteed (Veterans Administration) | 0 | $0 | $0 | $0 | $0 | $0 |
Outcome |
Total Number of Mortgage Applications | Total Dollar Amount of Mortgage Loan Applications | Average Mortgage Loan Amount | Highest Mortgage Loan Amount | Average Applicant Income | Highest Applicant Income |
|---|---|---|---|---|---|---|
| Loan Originated | 274 | $104,020,000 | $379,000 | $1,805,000 | $218,000 | $868,000 |
| Application Withdrawn By Applicant | 108 | $49,250,000 | $456,000 | $6,155,000 | $229,000 | $1,620,000 |
| Application Approved But Not Accepted | 22 | $10,440,000 | $474,000 | $2,305,000 | $249,000 | $801,000 |
| Application Denied By Financial Institution | 19 | $5,095,000 | $268,000 | $655,000 | $134,000 | $546,000 |
| File Closed For Incompleteness | 7 | $2,925,000 | $417,000 | $1,535,000 | $133,000 | $344,000 |
| Loan Purchased By The Institution | 0 | $0 | $0 | $0 | $0 | $0 |
| Preapproval Approved but not Accepted | 0 | $0 | $0 | $0 | $0 | $0 |
| Preapproval Denied by Financial Institution | 0 | $0 | $0 | $0 | $0 | $0 |
Denial Reason |
Total Number of Mortgage Applications | Total Dollar Amount of Mortgage Loan Applications | Average Mortgage Loan Amount | Highest Mortgage Loan Amount | Average Applicant Income | Highest Applicant Income |
|---|---|---|---|---|---|---|
| Not applicable | 411 | $166,635,000 | $405,000 | $6,155,000 | $221,000 | $1,620,000 |
| Debt-To-Income Ratio | 12 | $3,290,000 | $274,000 | $655,000 | $128,000 | $546,000 |
| Collateral | 4 | $790,000 | $197,000 | $485,000 | $162,000 | $306,000 |
| Credit History | 2 | $590,000 | $295,000 | $505,000 | $105,000 | $143,000 |
| Insufficient Cash (Downpayment, Closing Cost) | 1 | $425,000 | $425,000 | $425,000 | $150,000 | $150,000 |
| Mortgage Insurance Denied | 0 | $0 | $0 | $0 | $0 | $0 |
| Other | 0 | $0 | $0 | $0 | $0 | $0 |
| Unverifiable Information | 0 | $0 | $0 | $0 | $0 | $0 |
| Credit Application Incomplete | 0 | $0 | $0 | $0 | $0 | $0 |
| Employment History | 0 | $0 | $0 | $0 | $0 | $0 |
Our comprehensive HMDA mortgage statistics provide invaluable insights into Mit Federal Credit Union's 2023 lending activity. By analyzing detailed data on mortgage applications, total loan amounts, applicant incomes, loan purposes, and approval rates, industry professionals, researchers, and analysts can gain a clear understanding of this lender's role in the mortgage market.
This in-depth HMDA data allows real estate experts, financial analysts, and policymakers to track lending trends, evaluate borrower demographics,
and assess Mit Federal Credit Union's mortgage approval patterns.
Utilize this powerful dataset to analyze market performance, compare lending practices, and make data-driven decisions in the ever-changing mortgage industry.
For a list of all lenders in Massachusetts, download the full spreadsheet
with aggregated HMDA statistics today.
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