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 Refi and Cash Out Refi loans. New Bedford Credit Union has a high proportion of conventional loans.New Bedford Credit Union has an above 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
188Origination Dollar Volume (All Markets)
$21,890,000Top 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 | 188 | $21,890,000 | $116,436 | $0 | 0.00% |
Their top states include:
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 188 | $21,890,000 | $116,436 | $0 | 0.00% |
For 2022, New Bedford Credit Union's most frequently originated type of loan was Conventional, with 188 originations.
Loan Reason
For 2022, New Bedford Credit Union's most frequently cited loan purpose was Home Improvement, with 77 originations. The 2nd most popular reason was Other, with 42 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Other | 188 | $21,890,000 | $116,436 | $0 | 0.00% |
For 2022, New Bedford Credit Union's most frequently cited loan duration was Other, with 188 originations.
Loan Sizing
2022 saw New Bedford Credit Union place emphasis on $100,000 or less loans with 122 originations, totaling $6,020,000 in origination value.
Applicant Income
New Bedford Credit Union lent most frequently to those with incomes in the $100k-150k range, with 45 originations. The second most popular income band? $50k-75k, with 40 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Exempt% | 188 | $21,890,000 | $116,436 | $0 | 0.00% |
New Bedford Credit Union lent most frequently to those with DTI ratios of Exempt%, with 188 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications93.13%
New Bedford Credit Union has an average approval rate.
Pick Rate
Approvals leading to origination98.40%
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 | 188 | $21,890,000 | $116,436 |