Green Mountain Credit Union Mortgage Rates, Fees & Info
South Burlington, VTLEI: 254900VNHREN5BIMTO39
Tax ID: 03-0213165
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Mortgage Data
Review & Overview
Green Mountain Credit Union is a smaller credit union specializing in Home Purchase loans. Green Mountain Credit Union has a high proportion of conventional loans.Green Mountain Credit Union has an above average approval rate when compared to the average across all lenders. They have an above average pick rate when compared to similar lenders. They typically have relatively high rates.
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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| Home Equity Line of Credit (HELOC) | 6.27% | 3/24/24 |
| 30 Year Conventional Purchase | 6.27% | 3/24/24 |
| 30 Year Conventional Refi | 6.27% | 3/24/24 |
| 30 Year Cash-out Refi | 6.27% | 3/24/24 |
| 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. | ||
Green Mountain Credit Union Mortgage Calculator
Your Estimates
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
215Origination Dollar Volume (All Markets)
$22,425,000Top 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 |
|---|---|---|---|---|---|
| Outside of Metro Areas | 215 | $22,425,000 | $104,302 | $0 | 5.81% |
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 151 | $8,255,000 | $54,669 | $0 | 5.67% |
| HELOC | 64 | $14,170,000 | $221,406 | n/a | 5.98% |
For 2021, Green Mountain Credit Union's most frequently originated type of loan was Conventional, with 151 originations. Their 2nd most popular type was HELOC, with 64 originations.
Loan Reason
For 2021, Green Mountain Credit Union's most frequently cited loan purpose was Home Improvement, with 100 originations. The 2nd most popular reason was Home Purchase, with 77 originations.
Loan Duration/Length
For 2021, Green Mountain Credit Union's most frequently cited loan duration was 5 Year, with 90 originations. The 2nd most popular length was 30 Year, with 72 originations.
Origination Fees/Closing Costs
| Origination Fee/Closing Cost | Originations | Total Value | Average Loan |
|---|---|---|---|
| $<1k | 87 | $2,875,000 | $33,046 |
Green Mountain Credit Union's average total fees were $0, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 87 originations.
Interest Rates
During 2021, Green Mountain Credit Union's average interest rate for loans was 5.48%, while their most frequently originated rate bucket for loans was 5-6%, with 82 originations.
Loan Sizing
2021 saw Green Mountain Credit Union place emphasis on $100,000 or less loans with 136 originations, totaling $3,680,000 in origination value.
Applicant Income
Green Mountain Credit Union lent most frequently to those with incomes in the $100k-150k range, with 49 originations. The second most popular income band? $50k-75k, with 49 originations.
Applicant Debt to Income Ratio
Green Mountain Credit Union lent most frequently to those with DTI ratios of 20-30%, with 51 originations. The next most common DTI ratio? 30-36%, with 37 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications100.00%
Green Mountain Credit Union has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.
Pick Rate
Approvals leading to origination99.53%
Green Mountain Credit Union has an exceptionally high pick rate. They most likely have borrower friendly terms or other characteristics like being fast to close or are easy to work with.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 215 | $22,425,000 | $104,302 |