Xcel Federal Credit Union Mortgage Rates, Fees & Info
BLOOMFIELD, NJLEI: 5493001850NMVU84ZW56
Tax ID: 13-2559077
Latest/2024 | 2023 Data | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data
Jump to:
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, Atlanta, Salisbury, Raleigh, and Myrtle Beach among others. We have data for 10 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.
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.
Mortgage seekers: Choose your metro area here to explore the lowest fee & rate lenders.
Mortgage professionals: We have various tools to make your lives easier. Contact us to see how we can help with your market research, analytics or advertising needs.
Originations
47Origination Dollar Volume (All Markets)
$4,775,000Top 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 |
|---|---|---|---|---|---|
| New York-Newark-Jersey City, NY-NJ-PA (FHA|USDA|VA) | 36 | $3,890,000 | $108,056 | $0 | 8.43% |
| Outside of Metro Areas | 2 | $280,000 | $140,000 | $0 | 8.37% |
| ATLANTA-SANDY SPRINGS-ALPHARETTA, GA (FHA|USDA|VA) | 2 | $190,000 | $95,000 | $0 | 7.99% |
| SALISBURY, MD-DE (FHA|USDA|VA) | 1 | $95,000 | $95,000 | $0 | 8.74% |
| RALEIGH-CARY, NC (FHA|USDA|VA) | 1 | $95,000 | $95,000 | $0 | 7.99% |
| MYRTLE BEACH-CONWAY-NORTH MYRTLE BEACH, SC-NC (FHA|USDA|VA) | 1 | $65,000 | $65,000 | $0 | 7.99% |
| POUGHKEEPSIE-NEWBURGH-MIDDLETOWN, NY (FHA|USDA|VA) | 1 | $55,000 | $55,000 | $0 | 7.99% |
| JACKSON, TN (FHA|USDA|VA) | 1 | $55,000 | $55,000 | $0 | 8.24% |
| EAST STROUDSBURG, PA (FHA|USDA|VA) | 1 | $45,000 | $45,000 | $0 | 7.49% |
| GREENVILLE-ANDERSON, SC (FHA|USDA|VA) | 1 | $5,000 | $5,000 | $0 | 7.49% |
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 47 | $4,775,000 | $101,596 | $0 | 8.35% |
For 2024, Xcel Federal Credit Union's most frequently originated type of loan was Conventional, with 47 originations.
Loan Reason
| Loan Reason | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Home Improvement | 28 | $2,970,000 | $106,071 | $0 | 8.28% |
| Other | 19 | $1,805,000 | $95,000 | $0 | 8.44% |
For 2024, Xcel Federal Credit Union's most frequently cited loan purpose was Home Improvement, with 28 originations. The 2nd most popular reason was Other, with 19 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| 15 Year | 35 | $3,965,000 | $113,286 | $0 | 8.55% |
| 10 Year | 10 | $540,000 | $54,000 | $0 | 7.79% |
| 5 Year | 2 | $270,000 | $135,000 | $0 | 7.62% |
For 2024, Xcel Federal Credit Union's most frequently cited loan duration was 15 Year, with 35 originations. The 2nd most popular length was 10 Year, with 10 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 7-8% | 28 | $2,880,000 | $102,857 |
| Over 8% | 18 | $1,680,000 | $93,333 |
| 6-7% | 1 | $215,000 | $215,000 |
During 2024, Xcel Federal Credit Union's average interest rate for loans was 0.00%, while their most frequently originated rate bucket for loans was 7-8%, with 28 originations.
Loan Sizing
2024 saw Xcel Federal Credit Union place emphasis on $100,000 or less loans with 26 originations, totaling $1,490,000 in origination value.
Applicant Income
Xcel Federal Credit Union lent most frequently to those with incomes in the $150k-250k range, with 18 originations. The second most popular income band? $100k-150k, with 11 originations.
Applicant Debt to Income Ratio
Xcel Federal Credit Union lent most frequently to those with DTI ratios of 30-36%, with 6 originations. The next most common DTI ratio? 50-60%, with 5 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications72.62%
Xcel Federal Credit Union has a below average approval rate.
Pick Rate
Approvals leading to origination70.21%
Xcel Federal Credit Union has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 47 | $4,775,000 | $101,596 |