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 20 reviews

Latest/2022 | 2021 Data | 2020 Data | 2019 Data | 2018 Data

Jump to:

  • SimulatedRates™
  • Mortgage Calculator

    • Mortgage Data

  • Originations
  • Relative Rates
  • Relative Fees
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • Similar Lenders
  • Loan Length
  • Loan to Value Info
  • Debt-to-Income
  • Applicant Income
  • Ethnicity Info
  • Approval & Pick Rates
  • Points and Fees
  • Origination Fees (Closing Costs)

    • Review & Overview

    Del Norte Credit Union is a smaller credit union specializing in Cash Out Refi and Home Purchase loans. Del Norte Credit Union has a high proportion of conventional loans. Their top markets by origination volume include: Santa Fe, Los Alamos, Albuquerque, Española, and Las Vegas among others. We have data for 9 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Del Norte 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. Del Norte Credit Union is typically a low fee lender. (We use the term "fees" to include things like closing costs and other costs incurred by borrowers-- whether they are paid out of pocket or rolled into the loan.) They typically have about average rates.

    We show data for every lender and do not change our ratings-- even if an organization is a paid advertiser. Our consensus data does have lag, but it is highly correlated to a lender's rates & fees relative to their markets. This means that if a bank is a low fee/rate lender the past-- chances are they are still one today. Our SimulatedRates™ use advanced statistical techniques to forecast different rates based on a lender's historical data.

    Mortgage seekers: Choose your metro area here to explore the lowest fee & rate lenders.

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    SimulatedRates™

    Mortgage Type     		Simulated Rate Simulation Date
    30 Year Conventional Purchase 6.61% 5/27/23
    30 Year Conventional Refi 6.36% 5/27/23
    30 Year Cash-out Refi 6.69% 5/27/23
    15 Year Conventional Purchase 6.81% 5/27/23
    15 Year Conventional Refi 6.16% 5/27/23
    15 Year Cash-out Refi 6.16% 5/27/23
    These are simulated rates generated by our proprietary machine learning models. These are not guaranteed by the bank. They are our estimates based on a lender's past behaviors combined with current market conditions. Contact an individual lender for their actual rates. Our models use fixed rate terms for conforming loans, 700+ FICO, 10% down for FHA and 20% for conventional. These are based on consensus, historical data-- not advertised promotional rates.

    Del Norte Credit Union Mortgage Calculator






    Your Estimates

    Estimated Loan Payment: Update the calculator values and click calculate payment!

    This is not an official calculator from Del Norte Credit Union. It uses our SimulatedRate™ technology, basic math and reasonable assumptions to calculate mortgage payments derived from our simulations and your inputs.

    The default purchase price is the median sales price across the US for 2022Q4, per FRED.


    Originations

    383

    Origination Dollar Volume (All Markets)

    $62,265,000

    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 mortgage rate was 4.66%.

    The 2022 average 30 year fixed rate mortgage across all markets and lenders was 4.76%.

    This yields a difference of -0.1%.

    Relative Fees (Closing Costs)

    Del Norte Credit Union's average total fees/closing costs for a 30 year fixed rate mortgage were $4,317.

    The average total origination fees for 30 year fixed rate mortgages across all lenders (for all loan values, including both points & up-front fees in addition to origination fees) were $4,750.

    Top 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
    SANTA FE, NM (FHA|USDA|VA) 184 $29,040,000 $157,826 $2,898 5.00%
    Los Alamos, NM (FHA|USDA|VA) 85 $18,595,000 $218,765 $3,601 4.98%
    ALBUQUERQUE, NM (FHA|USDA|VA) 51 $7,805,000 $153,039 $2,545 4.99%
    Española, NM (FHA|USDA|VA) 43 $4,925,000 $114,535 $2,578 5.10%
    Las Vegas, NM (FHA|USDA|VA) 8 $670,000 $83,750 $2,342 4.89%
    LAS CRUCES, NM (FHA|USDA|VA) 4 $620,000 $155,000 $2,139 5.59%
    Taos, NM (FHA|USDA|VA) 4 $310,000 $77,500 $3,098 5.75%
    Outside of Metro Areas 3 $255,000 $85,000 $2,496 4.75%
    Clovis, NM (FHA|USDA|VA) 1 $45,000 $45,000 $0 9.00%
    Del Norte Credit Union's top markets include Santa Fe, Los Alamos, Albuquerque, Española, and Las Vegas among others.

    Their top states include:
  • New Mexico (FHA|USDA|VA)

    • Similar Lenders

    We use machine learning to identify the top lenders compared against Del Norte Credit Union based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.

    GUADALUPE CREDIT UNION
    Similarity Rank: 525
    First American Bank
    Similarity Rank: 667
    Del Norte Credit Union
    Similarity Rank: 1359
    Kirtland Federal Credit Union
    Similarity Rank: 1848
    Chicago Mortgage Solutions LLC
    Similarity Rank: 1962
    SANDIA LABORATORY
    Similarity Rank: 2048
    SANDIA AREA
    Similarity Rank: 2442
    Enterprise Bank & Trust
    Similarity Rank: 2624
    NP, Inc.
    Similarity Rank: 3450
    BKCO MORTGAGE, LLC
    Similarity Rank: 4717

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 268 $53,560,000 $199,851 $2,979 4.77%
    HELOC 115 $8,705,000 $75,696 n/a 5.63%

    For 2022, Del Norte Credit Union's most frequently originated type of loan was Conventional, with 268 originations. Their 2nd most popular type was HELOC, with 115 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Other 124 $9,280,000 $74,839 $692 5.46%
    Cash Out Refi 108 $14,900,000 $137,963 $2,301 4.76%
    Home Purchase 93 $28,985,000 $311,667 $4,273 4.92%
    Refi 35 $7,555,000 $215,857 $3,450 3.83%
    Home Improvement 23 $1,545,000 $67,174 $665 6.22%

    For 2022, Del Norte Credit Union's most frequently cited loan purpose was Other, with 124 originations. The 2nd most popular reason was Cash Out Refi, with 108 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    20 Year 131 $11,675,000 $89,122 $3,774 5.54%
    30 Year 118 $36,090,000 $305,847 $4,317 4.66%
    15 Year 99 $12,465,000 $125,909 $1,857 4.80%
    10 Year 35 $2,035,000 $58,143 $472 5.01%

    For 2022, Del Norte Credit Union's most frequently cited loan duration was 20 Year, with 131 originations. The 2nd most popular length was 30 Year, with 118 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 211 $41,615,000 $197,227
    $1k-2k 14 $3,000,000 $214,286
    $3k-4k 14 $3,690,000 $263,571
    $2k-3k 13 $2,405,000 $185,000
    $5k+ 2 $1,210,000 $605,000

    Del Norte Credit Union's average total fees were $4,317, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 211 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    4-5% 124 $19,400,000 $156,452
    3-4% 88 $17,640,000 $200,455
    5-6% 76 $13,310,000 $175,132
    6-7% 52 $5,480,000 $105,385
    7-8% 19 $2,435,000 $128,158
    2.5-3% 14 $3,320,000 $237,143
    Over 8% 9 $585,000 $65,000
    <2.5% 1 $95,000 $95,000

    During 2022, Del Norte Credit Union's average interest rate for loans was 4.66%, while their most frequently originated rate bucket for loans was 4-5%, with 124 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 183 $9,285,000 $50,738 $558 5.47%
    $200k-400k 93 $25,425,000 $273,387 $4,174 4.68%
    $100k-200k 74 $10,690,000 $144,459 $3,408 4.52%
    $400k-600k 26 $12,170,000 $468,077 $4,965 4.73%
    $600k-1MM 7 $4,695,000 $670,714 $5,949 4.66%

    2022 saw Del Norte Credit Union place emphasis on $100,000 or less loans with 183 originations, totaling $9,285,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 96 $17,020,000 $177,292 $3,020 5.01%
    $150k-250k 88 $18,460,000 $209,773 $3,426 5.01%
    $75k-100k 70 $9,780,000 $139,714 $2,965 5.18%
    $50k-75k 64 $8,150,000 $127,344 $2,707 4.91%
    $50k or less 36 $3,270,000 $90,833 $2,449 4.88%
    $250k+ 24 $5,360,000 $223,333 $3,133 5.21%

    Del Norte Credit Union lent most frequently to those with incomes in the $100k-150k range, with 96 originations. The second most popular income band? $150k-250k, with 88 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 94 $15,330,000 $163,085 $2,757 5.00%
    30-36% 77 $12,925,000 $167,857 $3,140 4.97%
    <20% 40 $6,070,000 $151,750 $2,864 4.49%
    44% 33 $4,115,000 $124,697 $3,067 5.29%
    43% 22 $2,720,000 $123,636 $2,710 5.51%
    42% 17 $2,055,000 $120,882 $4,237 4.51%
    40% 17 $2,985,000 $175,588 $3,437 5.30%
    41% 15 $2,205,000 $147,000 $3,123 4.86%
    37% 14 $1,990,000 $142,143 $2,103 5.95%
    39% 13 $1,695,000 $130,385 $3,066 4.87%
    38% 11 $1,475,000 $134,091 $1,916 4.85%
    36% 9 $1,445,000 $160,556 $2,696 5.85%
    49% 7 $2,335,000 $333,571 $3,908 4.12%
    45% 4 $2,140,000 $535,000 $4,345 4.97%
    47% 4 $760,000 $190,000 $1,728 5.88%
    46% 3 $705,000 $235,000 $3,069 4.92%
    48% 2 $860,000 $430,000 $4,466 6.19%
    50-60% 1 $455,000 $455,000 $2,733 6.00%

    Del Norte Credit Union lent most frequently to those with DTI ratios of 20-30%, with 94 originations. The next most common DTI ratio? 30-36%, with 77 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 277 $46,485,000 $167,816 $3,025 4.96%
    Not provided 97 $14,475,000 $149,227 $2,829 5.25%
    American Indian 5 $405,000 $81,000 $1,714 5.47%
    Japanese 1 $375,000 $375,000 $2,379 3.38%
    Asian 2 $370,000 $185,000 $5,686 4.88%
    Black 1 $155,000 $155,000 $3,070 2.75%

    Approval Rates

    Total approvals of all applications
    83.76%

    Del Norte Credit Union has a below average approval rate.

    Pick Rate

    Approvals leading to origination
    66.84%

    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 383 $62,265,000 $162,572

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    383 $62,265,000 $162,572

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 58 $8,290,000 $142,931 $2,785 4.88%
    40-60% 39 $9,735,000 $249,615 $3,826 4.49%
    60-80% 50 $14,630,000 $292,600 $4,288 4.35%
    80-100% 66 $19,910,000 $301,667 $4,090 5.12%
    Under 20% 86 $6,140,000 $71,395 $757 5.18%