Xcel Federal Credit Union Mortgage Rates, Fees & Info
BLOOMFIELD, NJLEI: 5493001850NMVU84ZW56
Tax ID: 13-2559077
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Mortgage Data
Review & Overview
Xcel Federal Credit Union is a smaller credit union specializing in Home Improvement, Refi, and Home Purchase loans. Xcel Federal Credit Union has a high proportion of conventional loans. Their top markets by origination volume include: New York, Lewiston, Deltona, East Stroudsburg, and Miami among others. We have data for 6 markets. (Some data included below & more in-depth data is available with an active subscription.)Xcel Federal Credit Union has a below average approval rate when compared to the average across all lenders. They have a below average pick rate when compared to similar lenders. Xcel Federal Credit Union is typically a high fee lender. (We use the term "fees" to include things like closing costs and other costs incurred by borrowers-- whether they are paid out of pocket or rolled into the loan.) They typically have about average rates.
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Originations
22Origination Dollar Volume (All Markets)
$2,010,000Top 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) | 17 | $1,485,000 | $87,353 | $1,987 | 4.61% |
| LEWISTON-AUBURN, ME (FHA|USDA|VA) | 1 | $285,000 | $285,000 | $820 | 4.99% |
| DELTONA-DAYTONA BEACH-ORMOND BEACH, FL (FHA|USDA|VA) | 1 | $85,000 | $85,000 | $1,000 | 4.99% |
| EAST STROUDSBURG, PA (FHA|USDA|VA) | 1 | $75,000 | $75,000 | $805 | 6.49% |
| Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) | 1 | $65,000 | $65,000 | $1,071 | 4.49% |
| Philadelphia-Camden-Wilmington, PA-NJ-DE-MD (FHA|USDA|VA) | 1 | $15,000 | $15,000 | $786 | 3.99% |
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 22 | $2,010,000 | $91,364 | $1,739 | 4.69% |
For 2018, Xcel Federal Credit Union's most frequently originated type of loan was Conventional, with 22 originations.
Loan Reason
| Loan Reason | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Home Improvement | 9 | $495,000 | $55,000 | $730 | 4.44% |
| Refi | 9 | $985,000 | $109,444 | $965 | 4.93% |
| Home Purchase | 4 | $530,000 | $132,500 | $5,755 | 4.71% |
For 2018, Xcel Federal Credit Union's most frequently cited loan purpose was Home Improvement, with 9 originations. The 2nd most popular reason was Refi, with 9 originations.
Loan Duration/Length
For 2018, Xcel Federal Credit Union's most frequently cited loan duration was 15 Year, with 9 originations. The 2nd most popular length was 10 Year, with 6 originations.
Origination Fees/Closing Costs
| Origination Fee/Closing Cost | Originations | Total Value | Average Loan |
|---|---|---|---|
| $<1k | 3 | $385,000 | $128,333 |
Xcel Federal Credit Union's average total fees were $10,432, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 3 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 4-5% | 16 | $1,720,000 | $107,500 |
| 3-4% | 4 | $110,000 | $27,500 |
| 5-6% | 1 | $105,000 | $105,000 |
| 6-7% | 1 | $75,000 | $75,000 |
During 2018, Xcel Federal Credit Union's average interest rate for loans was 4.44%, while their most frequently originated rate bucket for loans was 4-5%, with 16 originations.
Loan Sizing
2018 saw Xcel Federal Credit Union place emphasis on $100,000 or less loans with 14 originations, totaling $640,000 in origination value.
Applicant Income
Xcel Federal Credit Union lent most frequently to those with incomes in the $100k-150k range, with 6 originations. The second most popular income band? $75k-100k, with 6 originations.
Applicant Debt to Income Ratio
Xcel Federal Credit Union lent most frequently to those with DTI ratios of 20-30%, with 7 originations. The next most common DTI ratio? 30-36%, with 3 originations.
Ethnicity Mix
| Applicant Ethnicity | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| White | 17 | $1,535,000 | $90,294 | $1,969 | 4.79% |
| Black | 5 | $475,000 | $95,000 | $958 | 4.35% |
Approval Rates
Total approvals of all applications64.15%
Xcel Federal Credit Union has a low approval rate. They may have poor market targeting or stringent lending standards.
Pick Rate
Approvals leading to origination59.09%
Xcel Federal Credit Union has a low pick rate. They may have issues with closing loans or may approve everyone, but with onerous loan terms.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 22 | $2,010,000 | $91,364 |