Del Norte Credit Union Mortgage Rates, Fees & Info
Santa Fe, NMLEI: 2549008US5LUWX2ZH247
Tax ID: 85-0124035
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Mortgage Data
Review & Overview
Del Norte Credit Union is a smaller credit union specializing in 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, Española, Albuquerque, 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.
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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| 30 Year Conventional Purchase | 6.61% | 12/16/24 |
| 30 Year Conventional Refi | 6.36% | 12/16/24 |
| 30 Year Cash-out Refi | 6.69% | 12/16/24 |
| 15 Year Conventional Purchase | 6.81% | 12/16/24 |
| 15 Year Conventional Refi | 6.16% | 12/16/24 |
| 15 Year Cash-out Refi | 6.16% | 12/16/24 |
| 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
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This is not an official calculator from Del Norte Credit Union. It uses our SimulatedRate™
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
306Origination Dollar Volume (All Markets)
$62,970,000Awards
Del Norte Credit Union - 2019
Del Norte Credit Union is a 2019 , due to their low .
For 2019, less than of lenders were eligible for this award.
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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) | 157 | $34,245,000 | $218,121 | $3,051 | 4.71% |
| Los Alamos, NM (FHA|USDA|VA) | 79 | $17,985,000 | $227,658 | $3,251 | 4.62% |
| Española, NM (FHA|USDA|VA) | 35 | $5,485,000 | $156,714 | $2,874 | 4.69% |
| ALBUQUERQUE, NM (FHA|USDA|VA) | 20 | $3,500,000 | $175,000 | $2,708 | 4.78% |
| Las Vegas, NM (FHA|USDA|VA) | 7 | $895,000 | $127,857 | $3,480 | 4.93% |
| Taos, NM (FHA|USDA|VA) | 5 | $725,000 | $145,000 | $4,026 | 4.78% |
| Outside of Metro Areas | 1 | $55,000 | $55,000 | $135 | 5.50% |
| Portales, NM (FHA|USDA|VA) | 1 | $45,000 | $45,000 | $1,329 | 4.00% |
| LAS CRUCES, NM (FHA|USDA|VA) | 1 | $35,000 | $35,000 | $0 | 7.00% |
Their top states include:
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.
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Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 306 | $62,970,000 | $205,784 | $3,062 | 4.70% |
For 2019, Del Norte Credit Union's most frequently originated type of loan was Conventional, with 306 originations.
Loan Reason
For 2019, Del Norte Credit Union's most frequently cited loan purpose was Home Purchase, with 147 originations. The 2nd most popular reason was Cash Out Refi, with 97 originations.
Loan Duration/Length
For 2019, Del Norte Credit Union's most frequently cited loan duration was 30 Year, with 190 originations. The 2nd most popular length was 15 Year, with 65 originations.
Origination Fees/Closing Costs
| Origination Fee/Closing Cost | Originations | Total Value | Average Loan |
|---|---|---|---|
| $<1k | 10 | $3,750,000 | $375,000 |
| $2k-3k | 4 | $720,000 | $180,000 |
| $1k-2k | 1 | $435,000 | $435,000 |
| $3k-4k | 1 | $235,000 | $235,000 |
Del Norte Credit Union's average total fees were $3,888, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 10 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 4-5% | 196 | $47,480,000 | $242,245 |
| 3-4% | 47 | $10,205,000 | $217,128 |
| 5-6% | 37 | $4,335,000 | $117,162 |
| 6-7% | 22 | $860,000 | $39,091 |
| 7-8% | 4 | $90,000 | $22,500 |
During 2019, Del Norte Credit Union's average interest rate for loans was 4.46%, while their most frequently originated rate bucket for loans was 4-5%, with 196 originations.
Loan Sizing
2019 saw Del Norte Credit Union place emphasis on $200k-400k loans with 114 originations, totaling $32,140,000 in origination value.
Applicant Income
Del Norte Credit Union lent most frequently to those with incomes in the $100k-150k range, with 74 originations. The second most popular income band? $50k-75k, with 69 originations.
Applicant Debt to Income Ratio
Del Norte Credit Union lent most frequently to those with DTI ratios of 20-30%, with 71 originations. The next most common DTI ratio? 30-36%, with 66 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications88.83%
Del Norte Credit Union has an average approval rate.
Pick Rate
Approvals leading to origination53.92%
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 | 306 | $62,970,000 | $205,784 |
Occupancy Type Mix
| Dwelling Type | Originations | Total Value | Average Loan |
|---|---|---|---|
| Single Family (1-4 Units):Manufactured | 27 | $2,945,000 | $109,074 |
| Single Family (1-4 Units):Site-Built | 279 | $60,025,000 | $215,143 |