New Bedford Credit Union Mortgage Rates, Fees & Info
New Bedford, MALEI: 25490055DH0FCOSJLM57
Tax ID: 04-1659235
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Mortgage Data
Review & Overview
New Bedford Credit Union is a smaller credit union specializing in 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 a below average pick rate when compared to similar lenders.
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Originations
75Origination Dollar Volume (All Markets)
$9,665,000Top 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 | 75 | $9,665,000 | $128,867 | $0 | 0.00% |
Their top states include:
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 75 | $9,665,000 | $128,867 | $0 | 0.00% |
For 2019, New Bedford Credit Union's most frequently originated type of loan was Conventional, with 75 originations.
Loan Reason
For 2019, New Bedford Credit Union's most frequently cited loan purpose was Refi, with 24 originations. The 2nd most popular reason was Home Improvement, with 22 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Other | 75 | $9,665,000 | $128,867 | $0 | 0.00% |
For 2019, New Bedford Credit Union's most frequently cited loan duration was Other, with 75 originations.
Loan Sizing
2019 saw New Bedford Credit Union place emphasis on $100,000 or less loans with 40 originations, totaling $1,660,000 in origination value.
Applicant Income
New Bedford Credit Union lent most frequently to those with incomes in the $100k-150k range, with 25 originations. The second most popular income band? $75k-100k, with 16 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Exempt% | 75 | $9,665,000 | $128,867 | $0 | 0.00% |
New Bedford Credit Union lent most frequently to those with DTI ratios of Exempt%, with 75 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications82.95%
New Bedford Credit Union has a below average approval rate.
Pick Rate
Approvals leading to origination81.33%
New Bedford Credit Union has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| Exempt | 75 | $9,665,000 | $128,867 |