Mit Federal Credit Union Mortgage Lending & HMDA Data, 2024
In 2024, Mit Federal Credit Union of Lexington, MA reported 421 mortgage applications totaling $135.9 million, down 2% from 2023. The average application was for $322,707, and applicants reported an average income of $211,045. 67% of its applications resulted in an originated loan and 5% were denied. Its largest markets were Cambridge-Newton-Framingham, MA (169), Boston, MA (55) and Providence-Warwick, RI-MA (12) (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 | 421 |
| Total Mortgage Loan Application Amount | $135,860,000 |
| Average Mortgage Loan Application Amount | $322,707 |
| Highest Mortgage Loan Application Amount | $1,305,000 |
| Average Applicant Income | $211,045 |
| Highest Applicant Income | $1,470,000 |
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(HMDA) records Mit Federal Credit Union filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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.
| Metro Area | Total Number of Mortgage Loan Applications | Total Dollar Amount of Mortgage Loan Applications | Average Mortgage Loan Application Amount | Average Applicant Income |
|---|---|---|---|---|
| Cambridge-Newton-Framingham, MA | 169 | $ 56,935,000 | $ 336,893 | $ 218,000 |
| Boston, MA | 55 | $ 18,565,000 | $ 337,545 | $ 204,000 |
| Outside any metro area | 20 | $ 5,280,000 | $ 264,000 | $ 195,150 |
| Providence-Warwick, RI-MA | 12 | $ 3,100,000 | $ 258,333 | $ 188,583 |
| Barnstable Town, MA | 10 | $ 3,785,000 | $ 378,500 | $ 227,000 |
| Rockingham County-Strafford County, NH | 10 | $ 2,180,000 | $ 218,000 | $ 182,000 |
| Manchester-Nashua, NH | 9 | $ 2,875,000 | $ 319,444 | $ 196,000 |
| Worcester, MA-CT | 8 | $ 1,070,000 | $ 133,750 | $ 198,000 |
| Oklahoma City, OK | 6 | $ 1,000,000 | $ 166,666 | $ 200,000 |
| Los Angeles-Long Beach-Glendale, CA | 5 | $ 1,375,000 | $ 275,000 | $ 209,000 |
| Denver-Aurora-Lakewood, CO | 4 | $ 2,780,000 | $ 695,000 | $ 259,000 |
| Orlando-Kissimmee-Sanford, FL | 4 | $ 1,560,000 | $ 390,000 | $ 233,000 |
| Portland-South Portland, ME | 4 | $ 2,080,000 | $ 520,000 | $ 311,000 |
| Seattle-Bellevue-Everett, WA | 4 | $ 1,810,000 | $ 452,500 | $ 193,000 |
| Washington, DC-MD | 4 | $ 1,680,000 | $ 420,000 | $ 198,000 |
| Washington-Baltimore-Arlington, DC | 4 | $ 1,380,000 | $ 345,000 | $ 354,000 |
| Atlanta-Sandy Springs-Roswell, GA | 3 | $ 725,000 | $ 241,666 | $ 131,000 |
| Baltimore-Columbia-Towson, MD | 3 | $ 975,000 | $ 325,000 | $ 232,000 |
| Chicago-Naperville, IL | 3 | $ 1,235,000 | $ 411,666 | $ 213,000 |
| Colorado Springs, CO | 3 | $ 1,035,000 | $ 345,000 | $ 174,000 |
| Pittsburgh, PA | 3 | $ 815,000 | $ 271,666 | $ 120,000 |
| Pittsfield, MA | 3 | $ 635,000 | $ 211,666 | $ 124,000 |
| Raleigh, NC | 3 | $ 515,000 | $ 171,666 | $ 237,000 |
| Santa Rosa, CA | 3 | $ 1,315,000 | $ 438,333 | $ 509,000 |
| Anaheim-Santa Ana-Irvine, CA | 2 | $ 960,000 | $ 480,000 | $ 117,000 |
| Arlington-Alexandria-Reston, VA-WV | 2 | $ 450,000 | $ 225,000 | $ 300,000 |
| Austin-Round Rock, TX | 2 | $ 730,000 | $ 365,000 | $ 153,000 |
| Bridgeport-Stamford-Norwalk, CT | 2 | $ 180,000 | $ 90,000 | $ 255,000 |
| Fresno, CA | 2 | $ 180,000 | $ 90,000 | $ 123,000 |
| Hartford-West Hartford-East Hartford, CT | 2 | $ 450,000 | $ 225,000 | $ 236,000 |
| Houston-The Woodlands-Sugar Land, TX | 2 | $ 850,000 | $ 425,000 | $ 177,000 |
| Miami-Miami Beach-Kendall, FL | 2 | $ 1,390,000 | $ 695,000 | $ 273,000 |
| Montgomery County-Bucks County-Chester County, PA | 2 | $ 1,030,000 | $ 515,000 | $ 174,000 |
| Nashville-Davidson--Murfreesboro--Franklin, TN | 2 | $ 110,000 | $ 55,000 | $ 133,000 |
| New York-Jersey City-White Plains, NY-NJ | 2 | $ 320,000 | $ 160,000 | $ 426,500 |
| Newark, NJ-PA | 2 | $ 1,020,000 | $ 510,000 | $ 266,000 |
| Palm Bay-Melbourne-Titusville, FL | 2 | $ 500,000 | $ 250,000 | $ 100,000 |
| Philadelphia, PA | 2 | $ 380,000 | $ 190,000 | $ 94,000 |
| Portland-Vancouver-Hillsboro, OR-WA | 2 | $ 690,000 | $ 345,000 | $ 190,000 |
| Springfield, MA | 2 | $ 440,000 | $ 220,000 | $ 105,000 |
| St. Louis, MO-IL | 2 | $ 180,000 | $ 90,000 | $ 233,000 |
| Virginia Beach-Norfolk-Newport News, VA-NC | 2 | $ 720,000 | $ 360,000 | $ 115,000 |
| Allentown-Bethlehem-Easton, PA-NJ | 1 | $ 95,000 | $ 95,000 | $ 76,000 |
| Boise City, ID | 1 | $ 305,000 | $ 305,000 | $ 227,000 |
| Brownsville-Harlingen, TX | 1 | $ 195,000 | $ 195,000 | $ 250,000 |
| Cape Coral-Fort Myers, FL | 1 | $ 345,000 | $ 345,000 | $ 224,000 |
| Charleston-North Charleston, SC | 1 | $ 435,000 | $ 435,000 | $ 197,000 |
| Clarksville, TN-KY | 1 | $ 35,000 | $ 35,000 | $ 116,000 |
| Durham-Chapel Hill, NC | 1 | $ 345,000 | $ 345,000 | $ 135,000 |
| Fairbanks, AK | 1 | $ 335,000 | $ 335,000 | $ 145,000 |
| Fayetteville-Springdale-Rogers, AR-MO | 1 | $ 175,000 | $ 175,000 | $ 143,000 |
| Fort Lauderdale-Pompano Beach-Deerfield Beach, FL | 1 | $ 125,000 | $ 125,000 | $ 231,000 |
| Fort Wayne, IN | 1 | $ 535,000 | $ 535,000 | $ 105,000 |
| Greensboro-High Point, NC | 1 | $ 65,000 | $ 65,000 | $ 205,000 |
| Kansas City, MO-KS | 1 | $ 575,000 | $ 575,000 | $ 195,000 |
| Knoxville, TN | 1 | $ 135,000 | $ 135,000 | $ 105,000 |
| Lakewood-New Brunswick, NJ | 1 | $ 805,000 | $ 805,000 | $ 250,000 |
| Lancaster, PA | 1 | $ 135,000 | $ 135,000 | $ 85,000 |
| Louisville/Jefferson County, KY-IN | 1 | $ 65,000 | $ 65,000 | $ 103,000 |
| Lynchburg, VA | 1 | $ 335,000 | $ 335,000 | $ 263,000 |
| Madison, WI | 1 | $ 395,000 | $ 395,000 | $ 138,000 |
| Marietta, GA | 1 | $ 155,000 | $ 155,000 | $ 171,000 |
| Merced, CA | 1 | $ 85,000 | $ 85,000 | $ 82,000 |
| Myrtle Beach-Conway-North Myrtle Beach, SC-NC | 1 | $ 245,000 | $ 245,000 | $ 386,000 |
| New Haven-Milford, CT | 1 | $ 135,000 | $ 135,000 | $ 300,000 |
| Oakland-Hayward-Berkeley, CA | 1 | $ 655,000 | $ 655,000 | $ 318,000 |
| Reno, NV | 1 | $ 405,000 | $ 405,000 | $ 200,000 |
| Riverside-San Bernardino-Ontario, CA | 1 | $ 675,000 | $ 675,000 | $ 195,000 |
| Sacramento--Roseville--Arden-Arcade, CA | 1 | $ 265,000 | $ 265,000 | $ 242,000 |
| Salt Lake City, UT | 1 | $ 765,000 | $ 765,000 | $ 470,000 |
| San Diego-Carlsbad, CA | 1 | $ 145,000 | $ 145,000 | $ 412,000 |
| San Jose-Sunnyvale-Santa Clara, CA | 1 | $ 765,000 | $ 765,000 | $ 185,000 |
| Santa Cruz-Watsonville, CA | 1 | $ 765,000 | $ 765,000 | $ 213,000 |
| Warren-Troy-Farmington Hills, MI | 1 | $ 45,000 | $ 45,000 | $ 67,000 |
| Winston-Salem, NC | 1 | $ 35,000 | $ 35,000 | $ 77,000 |
Mortgage Loan Application Detail Totals for Mit Federal Credit Union in 2024
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 | 180 | $87,210,000 | $484,000 | $1,305,000 | $220,000 | $767,000 |
| Home Improvement | 88 | $8,430,000 | $95,000 | $405,000 | $201,000 | $700,000 |
| Cash-out Refinancing | 67 | $17,530,000 | $265,000 | $765,000 | $193,000 | $503,000 |
| Other Purpose | 47 | $5,485,000 | $116,000 | $405,000 | $179,000 | $514,000 |
| Refinancing | 39 | $17,205,000 | $441,000 | $895,000 | $262,000 | $1,470,000 |
| 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 | 217 | $62,420,000 | $288,000 | $895,000 | $205,000 | $1,470,000 |
| Not Provided | 108 | $34,240,000 | $317,000 | $1,285,000 | $215,000 | $681,000 |
| Asian | 53 | $24,485,000 | $461,000 | $795,000 | $240,000 | $515,000 |
| Hispanic | 26 | $10,740,000 | $413,000 | $1,305,000 | $198,000 | $324,000 |
| Black or African American | 14 | $3,180,000 | $227,000 | $565,000 | $205,000 | $767,000 |
| American Indian or Alaskan Native | 3 | $795,000 | $265,000 | $525,000 | $125,000 | $142,000 |
| Native Hawaiian or Other Pacific Islander | 0 | $0 | $0 | $0 | $0 | $0 |
| 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) | 421 | $135,860,000 | $323,000 | $1,305,000 | $211,000 | $1,470,000 |
| 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 | 284 | $85,080,000 | $299,000 | $1,285,000 | $217,000 | $767,000 |
| Application Withdrawn By Applicant | 83 | $34,900,000 | $425,000 | $1,305,000 | $218,000 | $1,470,000 |
| Application Approved But Not Accepted | 21 | $5,695,000 | $271,000 | $685,000 | $187,000 | $379,000 |
| Application Denied By Financial Institution | 20 | $5,390,000 | $269,000 | $805,000 | $155,000 | $359,000 |
| File Closed For Incompleteness | 13 | $4,795,000 | $368,000 | $715,000 | $161,000 | $348,000 |
| 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 | 401 | $130,470,000 | $326,000 | $1,305,000 | $214,000 | $1,470,000 |
| Debt-To-Income Ratio | 15 | $3,865,000 | $257,000 | $735,000 | $119,000 | $219,000 |
| Collateral | 3 | $635,000 | $211,000 | $355,000 | $281,000 | $359,000 |
| Other | 1 | $805,000 | $805,000 | $805,000 | $250,000 | $250,000 |
| Credit History | 1 | $85,000 | $85,000 | $85,000 | $185,000 | $185,000 |
| 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 |
| Insufficient Cash (Downpayment, Closing Cost) | 0 | $0 | $0 | $0 | $0 | $0 |
| Mortgage Insurance Denied | 0 | $0 | $0 | $0 | $0 | $0 |
Our comprehensive HMDA mortgage statistics provide invaluable insights into Mit Federal Credit Union's 2024 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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