New Alliance Federal Credit Union Mortgage Rates, Fees & Info

Ambridge, PA

LEI: 254900PW1USAMXJ2SQ82

Tax ID: 25-0971818

Latest/2024 | 2023 Data | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data

Review & Overview

New Alliance Federal Credit Union is a smaller credit union specializing in Home Improvement, Cash Out Refi, and Refi loans. New Alliance Federal Credit Union has a high proportion of conventional loans. Their top (well, only) market is Pittsburgh.

New Alliance Federal Credit Union has a below average approval rate when compared to the average across all lenders. They have a below average pick rate when compared to similar lenders.

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Originations

Origination Dollar Volume (All Markets)

$1,465,000

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
PITTSBURGH, PA (FHA\|USDA\|VA)	29	$1,465,000	$50,517	$275	4.90%

New Alliance Federal Credit Union's top markets include and Pittsburgh among others.

Their top states include:

Pennsylvania (FHA|USDA|VA)

Product Mix

Loan Type	Originations	Total Value	Avg. Loan	Avg. Fees	Avg. Rate
Conventional	29	$1,465,000	$50,517	$275	4.90%

For 2018, New Alliance Federal Credit Union's most frequently originated type of loan was Conventional, with 29 originations.

Loan Reason

Loan Reason	Originations	Total Value	Avg. Loan	Avg. Fees	Avg. Rate
Home Improvement	9	$375,000	$41,667	$259	5.12%
Cash Out Refi	9	$385,000	$42,778	$247	4.87%
Refi	8	$580,000	$72,500	$309	4.57%
Other	3	$125,000	$41,667	$313	5.25%

For 2018, New Alliance Federal Credit Union's most frequently cited loan purpose was Home Improvement, with 9 originations. The 2nd most popular reason was Cash Out Refi, with 9 originations.

Loan Duration/Length

Loan Length	Originations	Total Value	Average Loan	Average Fees	Average Rate
15 Year	12	$910,000	$75,833	$320	5.16%
5 Year	10	$290,000	$29,000	$257	4.35%
10 Year	3	$105,000	$35,000	$276	5.07%
Other	3	$135,000	$45,000	$185	5.87%
3 Year	1	$25,000	$25,000	$185	3.95%

For 2018, New Alliance Federal Credit Union's most frequently cited loan duration was 15 Year, with 12 originations. The 2nd most popular length was 5 Year, with 10 originations.

Interest Rates

Loan Rate	Originations	Total Value	Average Loan
4-5%	10	$810,000	$81,000
3-4%	9	$325,000	$36,111
6-7%	4	$100,000	$25,000
5-6%	3	$145,000	$48,333
7-8%	3	$85,000	$28,333

During 2018, New Alliance Federal Credit Union's average interest rate for loans was 0.00%, while their most frequently originated rate bucket for loans was 4-5%, with 10 originations.

Loan Sizing

Loan Size	Originations	Total Value	Average Loan	Average Fees	Average Rate
$100,000 or less	25	$915,000	$36,600	$259	4.98%
$100k-200k	4	$550,000	$137,500	$375	4.44%

2018 saw New Alliance Federal Credit Union place emphasis on $100,000 or less loans with 25 originations, totaling $915,000 in origination value.

Applicant Income

Applicant Income	Originations	Total Value	Average Loan	Average Fees	Average Rate
$50k-75k	11	$545,000	$49,545	$327	4.66%
$50k or less	11	$515,000	$46,818	$237	4.68%
$100k-150k	4	$290,000	$72,500	$209	5.14%
$75k-100k	2	$90,000	$45,000	$332	6.25%
$150k-250k	1	$25,000	$25,000	$266	6.35%

New Alliance Federal Credit Union lent most frequently to those with incomes in the $50k-75k range, with 11 originations. The second most popular income band? $50k or less, with 11 originations.

Applicant Debt to Income Ratio

DTI Ratio	Originations	Total Value	Average Loan	Average Fees	Average Rate
20-30%	8	$260,000	$32,500	$308	4.41%
30-36%	6	$470,000	$78,333	$239	5.64%
<20%	4	$220,000	$55,000	$244	4.46%
43%	3	$55,000	$18,333	$209	5.70%
42%	2	$100,000	$50,000	$310	6.18%
36%	2	$40,000	$20,000	$185	3.70%
37%	1	$45,000	$45,000	$582	5.45%
39%	1	$75,000	$75,000	$185	3.45%
40%	1	$35,000	$35,000	$180	4.85%
41%	1	$165,000	$165,000	$536	4.55%

New Alliance Federal Credit Union lent most frequently to those with DTI ratios of 20-30%, with 8 originations. The next most common DTI ratio? 30-36%, with 6 originations.

Ethnicity Mix

Applicant Ethnicity	Originations	Total Value	Average Loan	Average Fees	Average Rate
White	23	$1,035,000	$45,000	$265	4.98%
Not provided	5	$405,000	$81,000	$286	4.79%
Black	1	$25,000	$25,000	$440	3.70%

Approval Rates

Total approvals of all applications
67.80%

New Alliance Federal Credit Union has a low approval rate. They may have poor market targeting or stringent lending standards.

Pick Rate

Approvals leading to origination
72.41%

New Alliance Federal Credit Union has a below average pick rate.

Points and Fees

Points	Originations	Total Value	Average Loan
NA	29	$1,465,000	$50,517

Occupancy Type Mix

Dwelling Type	Originations	Total Value	Average Loan
Single Family (1-4 Units):Site-Built	29	$1,465,000	$50,517

LTV Distribution

Loan to Value	Originations	Total Value	Average Loan	Average Fees	Average Rate
20-40%	8	$210,000	$26,250	$195	5.03%
40-60%	8	$460,000	$57,500	$274	4.37%
60-80%	4	$190,000	$47,500	$250	4.06%
80-100%	5	$515,000	$103,000	$429	4.96%
Under 20%	4	$90,000	$22,500	$269	6.48%