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
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 |