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 Refi, Cash Out 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, Valdosta, East Stroudsburg, Vineyard Haven, and Philadelphia among others. We have data for 13 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. 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
55Origination Dollar Volume (All Markets)
$7,175,000Top 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) | 40 | $5,790,000 | $144,750 | $3,469 | 4.74% |
| VALDOSTA, GA (FHA|USDA|VA) | 1 | $285,000 | $285,000 | $11,703 | 3.13% |
| EAST STROUDSBURG, PA (FHA|USDA|VA) | 2 | $210,000 | $105,000 | $938 | 4.50% |
| Vineyard Haven, MA (FHA|USDA|VA) | 1 | $195,000 | $195,000 | $1,290 | 4.49% |
| Outside of Metro Areas | 1 | $145,000 | $145,000 | $10,470 | 3.88% |
| Philadelphia-Camden-Wilmington, PA-NJ-DE-MD (FHA|USDA|VA) | 2 | $110,000 | $55,000 | $463 | 4.62% |
| POUGHKEEPSIE-NEWBURGH-MIDDLETOWN, NY (FHA|USDA|VA) | 2 | $110,000 | $55,000 | $1,010 | 4.75% |
| NEW HAVEN-MILFORD, CT (FHA|USDA|VA) | 1 | $85,000 | $85,000 | $740 | 4.75% |
| BARNSTABLE TOWN, MA (FHA|USDA|VA) | 1 | $65,000 | $65,000 | $990 | 3.99% |
| Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) | 1 | $65,000 | $65,000 | $2,999 | 3.13% |
| Warren, PA (FHA|USDA|VA) | 1 | $65,000 | $65,000 | $6,637 | 3.38% |
| Oneonta, NY (FHA|USDA|VA) | 1 | $25,000 | $25,000 | $575 | 4.49% |
| ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) | 1 | $25,000 | $25,000 | $504 | 5.25% |
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 55 | $7,175,000 | $130,455 | $3,316 | 4.62% |
For 2019, Xcel Federal Credit Union's most frequently originated type of loan was Conventional, with 55 originations.
Loan Reason
For 2019, Xcel Federal Credit Union's most frequently cited loan purpose was Home Improvement, with 21 originations. The 2nd most popular reason was Refi, with 14 originations.
Loan Duration/Length
For 2019, Xcel Federal Credit Union's most frequently cited loan duration was 15 Year, with 22 originations. The 2nd most popular length was 10 Year, with 17 originations.
Origination Fees/Closing Costs
| Origination Fee/Closing Cost | Originations | Total Value | Average Loan |
|---|---|---|---|
| $<1k | 9 | $3,145,000 | $349,444 |
Xcel Federal Credit Union's average total fees were $16,463, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 9 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 4-5% | 33 | $3,875,000 | $117,424 |
| 3-4% | 12 | $1,750,000 | $145,833 |
| 5-6% | 6 | $530,000 | $88,333 |
| 6-7% | 3 | $315,000 | $105,000 |
| 2.5-3% | 1 | $705,000 | $705,000 |
During 2019, Xcel Federal Credit Union's average interest rate for loans was 3.94%, while their most frequently originated rate bucket for loans was 4-5%, with 33 originations.
Loan Sizing
2019 saw Xcel Federal Credit Union place emphasis on $100,000 or less loans with 32 originations, totaling $1,690,000 in origination value.
Applicant Income
Xcel Federal Credit Union lent most frequently to those with incomes in the $100k-150k range, with 17 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 30-36%, with 15 originations. The next most common DTI ratio? 20-30%, with 10 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications79.81%
Xcel Federal Credit Union has a below average approval rate.
Pick Rate
Approvals leading to origination72.73%
Xcel Federal Credit Union has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 55 | $7,175,000 | $130,455 |
Occupancy Type Mix
| Dwelling Type | Originations | Total Value | Average Loan |
|---|---|---|---|
| Single Family (1-4 Units):Site-Built | 55 | $7,175,000 | $130,455 |