Del Norte Credit Union Mortgage Rates, Fees & Info

Santa Fe, NM

LEI: 2549008US5LUWX2ZH247

Tax ID: 85-0124035

5 stars - out of 5 stars, based on 18 reviews

2021 Data | 2020 Data | 2019 Data | 2018 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

335

Origination Dollar Volume (All Markets)

$82,205,000

Awards

Del Norte Credit Union 30 Year Conventional Loans silver Del Norte Credit Union 30 Year Conventional Loans silver Del Norte Credit Union 30 Year Conventional Loans silver
Show all (3) awards

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 applications
87.44%

Del Norte Credit Union has an average approval rate.

Pick Rate

Approvals leading to origination
62.95%

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%