Del Norte Credit Union Mortgage Rates, Fees & Info
Santa Fe, NMLEI: 2549008US5LUWX2ZH247
Tax ID: 85-0124035
2021 Data | 2020 Data | 2019 Data | 2018 Data
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Mortgage Data
Overview
Del Norte Credit Union is a smaller credit union specializing in Home Purchase, Cash Out Refi, and Refi loans. Del Norte Credit Union has a high proportion of conventional loans. Their top markets include Santa Fe, Los Alamos, Albuquerque, Española, and Las Vegas among others. Del Norte Credit Union has an average approval rate for mortages when compared nationally. They have a below average pick rate when compared to the same sample of other lendors. Del Norte Credit Union is typically an average fee lendor.Originations
335Origination Dollar Volume (All Markets)
$82,205,000Awards
Del Norte Credit Union - 2021
Del Norte Credit Union is a 2021 , due to their low .
For 2021, less than of lenders were eligible for this award.
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Relative Rate
Del Norte Credit Union's average 30 year fixed rate mortgage of loans were
3.24%.
The 2021 average 30 year fixed rate mortgage across all markets of loans were 3.15%.
This yields a difference of 0.09%.
Relative Fees
Del Norte Credit Union's average total fees for a 30 year fixed rate
mortgage are $3,766.
The average total origination fees for 30 year fixed rate mortgages (for all loan values, including
both points & up-front fees in addition to origination fees) are $4,750.
Top Markets
| Market | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| SANTA FE, NM (FHA|USDA|VA) | 179 | $48,385,000 | $270,307 | $3,791 | 3.24% |
| Los Alamos, NM (FHA|USDA|VA) | 67 | $15,875,000 | $236,940 | $3,231 | 3.21% |
| ALBUQUERQUE, NM (FHA|USDA|VA) | 37 | $8,015,000 | $216,622 | $2,952 | 3.29% |
| Española, NM (FHA|USDA|VA) | 35 | $6,395,000 | $182,714 | $3,926 | 3.37% |
| Las Vegas, NM (FHA|USDA|VA) | 8 | $1,680,000 | $210,000 | $5,217 | 3.47% |
| Taos, NM (FHA|USDA|VA) | 6 | $1,400,000 | $233,333 | $3,959 | 2.89% |
| Outside of Metro Areas | 2 | $360,000 | $180,000 | $5,089 | 3.19% |
| LAS CRUCES, NM (FHA|USDA|VA) | 1 | $95,000 | $95,000 | $2,432 | 2.50% |
Del Norte Credit Union's top markets include Santa Fe, Los Alamos, Albuquerque, Española, and Las Vegas among others.
Product Mix
| Loan Type | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Conventional | 335 | $82,205,000 | $245,388 | $3,643 | 3.25% |
For the 2021 period, Del Norte Credit Union's most frequently originated loan type of loans were Conventional, with 335 originations.
Loan Reason
| Loan Reason | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Home Purchase | 123 | $38,115,000 | $309,878 | $4,203 | 3.23% |
| Cash Out Refi | 107 | $22,095,000 | $206,495 | $3,286 | 3.36% |
| Refi | 97 | $21,425,000 | $220,876 | $3,552 | 3.04% |
| Other | 8 | $570,000 | $71,250 | $872 | 4.62% |
For the 2021, Del Norte Credit Union's most frequently cited loan purpose of loans were Home Purchase, with 123 originations. The 2nd most popular reason of loans were Cash Out Refi, with 107 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| 30 Year | 199 | $57,795,000 | $290,427 | $3,766 | 3.24% |
| 15 Year | 79 | $13,215,000 | $167,278 | $3,035 | 3.12% |
| 20 Year | 42 | $8,880,000 | $211,429 | $3,848 | 3.31% |
| 10 Year | 8 | $680,000 | $85,000 | $1,377 | 4.07% |
| 30+ year | 7 | $1,635,000 | $233,571 | $8,275 | 3.64% |
For the 2021, Del Norte Credit Union's most frequently cited loan length of loans were 30 Year, with 199 originations. The 2nd most popular length of loans were 15 Year, with 79 originations.
Origination Fees
| Origination Fee | Originations | Total Value | Average Loan |
|---|---|---|---|
| $<1k | 248 | $62,840,000 | $253,387 |
| $2k-3k | 40 | $7,880,000 | $197,000 |
| $3k-4k | 22 | $6,250,000 | $284,091 |
| $1k-2k | 21 | $3,585,000 | $170,714 |
| $5k+ | 2 | $1,030,000 | $515,000 |
$3,766 of loans were Del Norte Credit Union's average total fees, while their most frequently occuring range of origination fees were in the $<1k bucket, with 248 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 3-4% | 182 | $46,820,000 | $257,253 |
| 2.5-3% | 121 | $31,975,000 | $264,256 |
| <2.5% | 14 | $2,100,000 | $150,000 |
| 4-5% | 12 | $1,090,000 | $90,833 |
| 5-6% | 6 | $220,000 | $36,667 |
During 2021, Del Norte Credit Union's average interest rate of loans were 3.24%, while their most frequently originated rate bucket of loans were 3-4%, with 182 originations.
Loan Sizing
| Loan Size | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| $200k-400k | 164 | $45,430,000 | $277,012 | $3,943 | 3.21% |
| $100k-200k | 106 | $16,560,000 | $156,226 | $3,498 | 3.13% |
| $100,000 or less | 32 | $1,860,000 | $58,125 | $1,613 | 3.94% |
| $400k-600k | 24 | $11,420,000 | $475,833 | $4,289 | 3.19% |
| $600k-1MM | 8 | $5,930,000 | $741,250 | $4,894 | 3.11% |
| $1MM+ | 1 | $1,005,000 | $1,005,000 | $7,191 | 3.38% |
2021 saw Del Norte Credit Union place emphasis on $200k-400k loans with 164 originations, totaling $45,430,000 in origination value.
Applicant Income
| Applicant Income | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| $100k-150k | 87 | $22,825,000 | $262,356 | $3,408 | 3.16% |
| $50k-75k | 73 | $15,785,000 | $216,233 | $3,668 | 3.29% |
| $75k-100k | 68 | $14,620,000 | $215,000 | $3,543 | 3.34% |
| $150k-250k | 52 | $15,970,000 | $307,115 | $3,833 | 3.30% |
| $50k or less | 39 | $6,355,000 | $162,949 | $3,670 | 3.19% |
| $250k+ | 11 | $5,975,000 | $543,182 | $5,134 | 3.10% |
Del Norte Credit Union lent most frequently to those with incomes in the $100k-150k range, with 87 originations. The second most popular income band? $50k-75k, with 73 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| 20-30% | 92 | $20,040,000 | $217,826 | $3,327 | 3.27% |
| <20% | 63 | $13,425,000 | $213,095 | $3,561 | 3.10% |
| 30-36% | 52 | $14,560,000 | $280,000 | $3,694 | 3.23% |
| 42% | 17 | $4,395,000 | $258,529 | $3,781 | 3.21% |
| 43% | 14 | $3,250,000 | $232,143 | $4,498 | 3.30% |
| 38% | 13 | $4,835,000 | $371,923 | $4,840 | 3.38% |
| 40% | 12 | $2,920,000 | $243,333 | $3,682 | 3.36% |
| 41% | 11 | $3,265,000 | $296,818 | $3,715 | 3.31% |
| 37% | 10 | $1,740,000 | $174,000 | $3,486 | 3.51% |
| 45% | 9 | $1,615,000 | $179,444 | $3,783 | 3.10% |
| 44% | 8 | $1,820,000 | $227,500 | $3,441 | 3.50% |
| 39% | 8 | $2,280,000 | $285,000 | $3,548 | 3.20% |
| 36% | 7 | $1,765,000 | $252,143 | $4,109 | 3.55% |
| 47% | 5 | $1,685,000 | $337,000 | $3,012 | 3.18% |
| 46% | 4 | $1,540,000 | $385,000 | $4,146 | 3.22% |
| 48% | 4 | $1,040,000 | $260,000 | $3,946 | 3.25% |
| 49% | 4 | $1,310,000 | $327,500 | $3,329 | 3.41% |
| 50-60% | 2 | $720,000 | $360,000 | $3,977 | 2.88% |
Del Norte Credit Union lent most frequently to those with DTI ratios of 20-30%, with 92 originations. The next most common DTI ratio? <20%, with 63 originations.
Ethnicity Mix
| Applicant Ethnicity | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| White | 228 | $55,130,000 | $241,798 | $3,709 | 3.25% |
| Not provided | 100 | $25,030,000 | $250,300 | $3,514 | 3.25% |
| Asian | 3 | $1,045,000 | $348,333 | $4,278 | 3.29% |
| American Indian | 4 | $1,000,000 | $250,000 | $2,587 | 3.13% |
Approval Rates
Total approvals of all applications87.44%
Del Norte Credit Union has an average approval rate.
Pick Rate
Approvals leading to origination62.95%
Del Norte Credit Union has a low pick rate. They may have issues with closing loans or may approve everyone, but with onerous loan terms.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 335 | $82,205,000 | $245,388 |
Occupancy Type Mix
| Dwelling Type | Originations | Total Value | Average Loan |
|---|---|---|---|
| 335 | $82,205,000 | $245,388 |
LTV Distribution
| Loan to Value | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| 20-40% | 44 | $7,580,000 | $172,273 | $3,292 | 3.06% |
| 40-60% | 75 | $17,775,000 | $237,000 | $3,495 | 3.04% |
| 60-80% | 114 | $32,380,000 | $284,035 | $4,063 | 3.28% |
| 80-100% | 82 | $23,330,000 | $284,512 | $4,054 | 3.25% |
| Under 20% | 7 | $485,000 | $69,286 | $1,837 | 3.87% |
Complaints
| Bank Name | Product | Issue | 2021 CPFB Complaints | % of Total Issues |
|---|---|---|---|---|
| DELMAR FINANCIAL COMPANY | Conventional home mortgage | Applying for a mortgage or refinancing an existing mortgage | 1 | 50.0% |
| DELMAR FINANCIAL COMPANY | Conventional home mortgage | Closing on a mortgage | 1 | 50.0% |
