Xcel Federal Credit Union Mortgage Rates, Fees & Info
BLOOMFIELD, NJLEI: 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
37Origination Dollar Volume (All Markets)
$3,145,000Top Markets
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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% |
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
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
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
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
Approval Rates
Total approvals of all applications71.43%
Xcel Federal Credit Union has a below average approval rate.
Pick Rate
Approvals leading to origination70.27%
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 |