The Dutch Point Credit Union Mortgage Rates, Fees & Info
Wethersfield, CTLEI: 5493003XFPPSO0JVIB33
Tax ID: 06-6039973
Latest/2024 | 2023 Data | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data
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Mortgage Data
Review & Overview
The Dutch Point Credit Union is a smaller credit union specializing in Home Improvement and Other loans. The Dutch Point Credit Union has a high proportion of conventional loans. The Dutch Point Credit Union has a high proportion of conventional loans. Their top two markets are Pittsfield and Springfield .The Dutch Point 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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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| Home Equity Line of Credit (HELOC) | 5.56% | 4/5/25 |
| 15 Year Conventional Purchase | 6.00% | 4/5/25 |
| 15 Year Conventional Refi | 6.00% | 4/5/25 |
| 15 Year Cash-out Refi | 6.00% | 4/5/25 |
| These are simulated rates generated by our proprietary machine learning models. These are not guaranteed by the bank. They are our estimates based on a lender's past behaviors combined with current market conditions. Contact an individual lender for their actual rates. Our models use fixed rate terms for conforming loans, 700+ FICO, 10% down for FHA and 20% for conventional. These are based on consensus, historical data-- not advertised promotional rates. | ||
The Dutch Point Credit Union Mortgage Calculator
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
181Origination Dollar Volume (All Markets)
$13,555,000Top 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 |
|---|---|---|---|---|---|
| Outside of Metro Areas | 179 | $13,385,000 | $74,777 | $15 | 6.94% |
| PITTSFIELD, MA (FHA|USDA|VA) | 1 | $105,000 | $105,000 | $0 | 6.00% |
| SPRINGFIELD, MA (FHA|USDA|VA) | 1 | $65,000 | $65,000 | $0 | 0.00% |
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 75 | $4,475,000 | $59,667 | $0 | 0.00% |
| Conventional | 61 | $4,365,000 | $71,557 | $15 | 7.08% |
| HELOC | 45 | $4,715,000 | $104,778 | n/a | 6.73% |
For 2024, The Dutch Point Credit Union's most frequently originated type of loan was Conventional, with 75 originations. Their 2nd most popular type was Conventional, with 61 originations.
Loan Reason
For 2024, The Dutch Point Credit Union's most frequently cited loan purpose was Home Improvement, with 92 originations. The 2nd most popular reason was Other, with 66 originations.
Loan Duration/Length
For 2024, The Dutch Point Credit Union's most frequently cited loan duration was Other, with 123 originations. The 2nd most popular length was 10 Year, with 22 originations.
Origination Fees/Closing Costs
| Origination Fee/Closing Cost | Originations | Total Value | Average Loan |
|---|---|---|---|
| $<1k | 60 | $4,160,000 | $69,333 |
The Dutch Point Credit Union's average total fees were $0, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 60 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 5-6% | 35 | $3,605,000 | $103,000 |
| 6-7% | 28 | $1,740,000 | $62,143 |
| 7-8% | 26 | $2,420,000 | $93,077 |
| Over 8% | 17 | $1,315,000 | $77,353 |
During 2024, The Dutch Point Credit Union's average interest rate for loans was 0.00%, while their most frequently originated rate bucket for loans was 5-6%, with 35 originations.
Loan Sizing
2024 saw The Dutch Point Credit Union place emphasis on $100,000 or less loans with 137 originations, totaling $7,355,000 in origination value.
Applicant Income
The Dutch Point Credit Union lent most frequently to those with incomes in the $100k-150k range, with 50 originations. The second most popular income band? $150k-250k, with 50 originations.
Applicant Debt to Income Ratio
The Dutch Point Credit Union lent most frequently to those with DTI ratios of Exempt%, with 75 originations. The next most common DTI ratio? 20-30%, with 28 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications79.40%
The Dutch Point Credit Union has a below average approval rate.
Pick Rate
Approvals leading to origination67.96%
The Dutch Point 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 |
|---|---|---|---|
| Exempt | 75 | $4,475,000 | $59,667 |
| NA | 106 | $9,080,000 | $85,660 |