New Bedford Credit Union Mortgage Rates, Fees & Info

New Bedford, MA

LEI: 25490055DH0FCOSJLM57

Tax ID: 04-1659235

Latest/2024 | 2023 Data | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data

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Mortgage Data

  • Originations
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • 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

    New Bedford Credit Union is a smaller credit union specializing in Other, Refi, and Home Purchase loans. New Bedford Credit Union has a high proportion of conventional loans.

    New Bedford Credit Union has an average approval rate when compared to the average across all lenders. They have an average pick rate when compared to similar lenders.

    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.

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    Originations

    90

    Origination Dollar Volume (All Markets)

    $8,150,000

    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
    Outside of Metro Areas 90 $8,150,000 $90,556 $0 0.00%
    New Bedford Credit Union's top markets include

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

    • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 90 $8,150,000 $90,556 $0 0.00%

    For 2024, New Bedford Credit Union's most frequently originated type of loan was Conventional, with 90 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Other 32 $1,770,000 $55,313 $0 0.00%
    Refi 31 $2,595,000 $83,710 $0 0.00%
    Home Improvement 18 $1,060,000 $58,889 $0 0.00%
    Home Purchase 8 $2,370,000 $296,250 $0 0.00%
    Cash Out Refi 1 $355,000 $355,000 $0 0.00%

    For 2024, New Bedford Credit Union's most frequently cited loan purpose was Other, with 32 originations. The 2nd most popular reason was Refi, with 31 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 90 $8,150,000 $90,556 $0 0.00%

    For 2024, New Bedford Credit Union's most frequently cited loan duration was Other, with 90 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 63 $3,055,000 $48,492 $0 0.00%
    $100k-200k 18 $2,270,000 $126,111 $0 0.00%
    $200k-400k 7 $1,945,000 $277,857 $0 0.00%
    $400k-600k 2 $880,000 $440,000 $0 0.00%

    2024 saw New Bedford Credit Union place emphasis on $100,000 or less loans with 63 originations, totaling $3,055,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 32 $2,990,000 $93,438 $0 0.00%
    $75k-100k 26 $1,880,000 $72,308 $0 0.00%
    $150k-250k 16 $2,010,000 $125,625 $0 0.00%
    $50k-75k 11 $1,015,000 $92,273 $0 0.00%
    $50k or less 3 $155,000 $51,667 $0 0.00%
    $250k+ 2 $100,000 $50,000 $0 0.00%

    New Bedford Credit Union lent most frequently to those with incomes in the $100k-150k range, with 32 originations. The second most popular income band? $75k-100k, with 26 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 90 $8,150,000 $90,556 $0 0.00%

    New Bedford Credit Union lent most frequently to those with DTI ratios of Exempt%, with 90 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 75 $6,525,000 $87,000 $0 0.00%
    Not provided 7 $665,000 $95,000 $0 0.00%
    Black 7 $575,000 $82,143 $0 0.00%
    Vietnamese 1 $385,000 $385,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    75.91%

    New Bedford Credit Union has a below average approval rate.

    Pick Rate

    Approvals leading to origination
    91.11%

    New Bedford Credit Union has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 90 $8,150,000 $90,556

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    90 $8,150,000 $90,556