Xcel Federal Credit Union Mortgage Rates, Fees & Info

BLOOMFIELD, NJ

LEI: 5493001850NMVU84ZW56

Tax ID: 13-2559077

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

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Mortgage Data

Review & Overview

Xcel Federal Credit Union is a smaller credit union specializing in Home Improvement and Other loans. Xcel Federal Credit Union has a high proportion of conventional loans. Their top markets by origination volume include: New York, Miami, Norwich, Trenton, and Poughkeepsie among others. We have data for 7 markets. (Some data included below & more in-depth data is available with an active subscription.)

Xcel Federal 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.

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Originations

37

Origination Dollar Volume (All Markets)

$3,145,000

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
New York-Newark-Jersey City, NY-NJ-PA (FHA|USDA|VA) 29 $2,425,000 $83,621 $0 7.85%
Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) 2 $180,000 $90,000 $0 7.24%
NORWICH-NEW LONDON, CT (FHA|USDA|VA) 1 $135,000 $135,000 $0 6.49%
TRENTON-PRINCETON, NJ (FHA|USDA|VA) 1 $135,000 $135,000 $0 7.49%
POUGHKEEPSIE-NEWBURGH-MIDDLETOWN, NY (FHA|USDA|VA) 2 $110,000 $55,000 $0 7.95%
Philadelphia-Camden-Wilmington, PA-NJ-DE-MD (FHA|USDA|VA) 1 $105,000 $105,000 $0 5.99%
Hudson, NY (FHA|USDA|VA) 1 $55,000 $55,000 $0 5.99%
Xcel Federal Credit Union's top markets include New York, Miami, Norwich, Trenton, and Poughkeepsie among others.

Their top states include:
  • New Jersey (FHA|USDA|VA)
  • New York (FHA|USDA|VA)
  • Pennsylvania (FHA|USDA|VA)
  • Florida (FHA|USDA|VA)
  • Connecticut (FHA|USDA|VA)
  • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 37 $3,145,000 $85,000 $0 7.68%

    For 2023, Xcel Federal Credit Union's most frequently originated type of loan was Conventional, with 37 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Improvement 19 $1,425,000 $75,000 $0 7.24%
    Other 18 $1,720,000 $95,556 $0 8.14%

    For 2023, Xcel Federal Credit Union's most frequently cited loan purpose was Home Improvement, with 19 originations. The 2nd most popular reason was Other, with 18 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    15 Year 23 $2,115,000 $91,957 $0 8.17%
    10 Year 10 $750,000 $75,000 $0 6.87%
    5 Year 4 $280,000 $70,000 $0 6.87%

    For 2023, Xcel Federal Credit Union's most frequently cited loan duration was 15 Year, with 23 originations. The 2nd most popular length was 10 Year, with 10 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    6-7% 13 $1,155,000 $88,846
    7-8% 12 $1,350,000 $112,500
    Over 8% 8 $370,000 $46,250
    5-6% 4 $270,000 $67,500

    During 2023, Xcel Federal Credit Union's average interest rate for loans was 0.00%, while their most frequently originated rate bucket for loans was 6-7%, with 13 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 24 $1,240,000 $51,667 $0 7.92%
    $100k-200k 12 $1,700,000 $141,667 $0 7.16%
    $200k-400k 1 $205,000 $205,000 $0 7.99%

    2023 saw Xcel Federal Credit Union place emphasis on $100,000 or less loans with 24 originations, totaling $1,240,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 13 $1,125,000 $86,538 $0 7.47%
    $150k-250k 9 $805,000 $89,444 $0 7.35%
    $75k-100k 7 $395,000 $56,429 $0 8.53%
    $250k+ 4 $420,000 $105,000 $0 7.12%
    $50k-75k 3 $355,000 $118,333 $0 7.29%
    $50k or less 1 $45,000 $45,000 $0 10.74%

    Xcel Federal Credit Union lent most frequently to those with incomes in the $100k-150k range, with 13 originations. The second most popular income band? $150k-250k, with 9 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    50-60% 5 $555,000 $111,000 $0 7.37%
    46% 5 $365,000 $73,000 $0 7.74%
    20-30% 4 $390,000 $97,500 $0 7.49%
    30-36% 4 $300,000 $75,000 $0 8.55%
    44% 3 $185,000 $61,667 $0 8.99%
    >60% 2 $80,000 $40,000 $0 8.37%
    42% 2 $100,000 $50,000 $0 7.24%
    49% 2 $270,000 $135,000 $0 7.24%
    36% 2 $100,000 $50,000 $0 6.24%
    45% 2 $270,000 $135,000 $0 6.49%
    37% 2 $190,000 $95,000 $0 9.62%
    47% 2 $260,000 $130,000 $0 7.24%
    39% 1 $55,000 $55,000 $0 6.49%
    40% 1 $25,000 $25,000 $0 5.99%

    Xcel Federal Credit Union lent most frequently to those with DTI ratios of 50-60%, with 5 originations. The next most common DTI ratio? 46%, with 5 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 22 $1,980,000 $90,000 $0 7.61%
    Black 11 $865,000 $78,636 $0 7.99%
    Asian 3 $245,000 $81,667 $0 7.41%
    Not provided 1 $55,000 $55,000 $0 6.49%

    Approval Rates

    Total approvals of all applications
    71.43%

    Xcel Federal Credit Union has a below average approval rate.

    Pick Rate

    Approvals leading to origination
    70.27%

    Xcel Federal Credit Union has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 37 $3,145,000 $85,000

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    37 $3,145,000 $85,000

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 7 $815,000 $116,429 $0 7.70%
    40-60% 2 $270,000 $135,000 $0 6.49%
    Under 20% 20 $1,250,000 $62,500 $0 7.49%