New Bedford Credit Union Mortgage Rates, Fees & Info
New Bedford, MALEI: 25490055DH0FCOSJLM57
Tax ID: 04-1659235
Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data
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Mortgage Data
Review & Overview
New Bedford Credit Union is a smaller credit union specializing in Home Improvement, 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 above average pick rate when compared to similar lenders.
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Originations
96Origination Dollar Volume (All Markets)
$7,680,000Top 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 | 96 | $7,680,000 | $80,000 | $0 | 0.00% |
Their top states include:
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 96 | $7,680,000 | $80,000 | $0 | 0.00% |
For 2023, New Bedford Credit Union's most frequently originated type of loan was Conventional, with 96 originations.
Loan Reason
For 2023, New Bedford Credit Union's most frequently cited loan purpose was Home Improvement, with 52 originations. The 2nd most popular reason was Refi, with 22 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Other | 96 | $7,680,000 | $80,000 | $0 | 0.00% |
For 2023, New Bedford Credit Union's most frequently cited loan duration was Other, with 96 originations.
Loan Sizing
2023 saw New Bedford Credit Union place emphasis on $100,000 or less loans with 73 originations, totaling $3,645,000 in origination value.
Applicant Income
New Bedford Credit Union lent most frequently to those with incomes in the $100k-150k range, with 33 originations. The second most popular income band? $150k-250k, with 22 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Exempt% | 96 | $7,680,000 | $80,000 | $0 | 0.00% |
New Bedford Credit Union lent most frequently to those with DTI ratios of Exempt%, with 96 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications80.15%
New Bedford Credit Union has a below average approval rate.
Pick Rate
Approvals leading to origination95.83%
New Bedford Credit Union has an exceptionally high pick rate. They most likely have borrower friendly terms or other characteristics like being fast to close or are easy to work with.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| Exempt | 96 | $7,680,000 | $80,000 |