Southbridge Credit Union Mortgage Rates, Fees & Info
Southbridge, MALEI: 5493005JR8XLPW5ROU93
Tax ID: 04-2023790
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Mortgage Data
Review & Overview
Southbridge Credit Union is a smaller credit union specializing in Home Purchase loans. Southbridge Credit Union has a high proportion of conventional loans. Their top markets by origination volume include: Worcester, Springfield, and Hartford among others. We have data for 3 markets. (Some data included below & more in-depth data is available with an active subscription.)Southbridge 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
86Origination Dollar Volume (All Markets)
$13,490,000Top 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 |
|---|---|---|---|---|---|
| WORCESTER, MA-CT (FHA|USDA|VA) | 69 | $10,285,000 | $149,058 | $0 | 0.00% |
| SPRINGFIELD, MA (FHA|USDA|VA) | 16 | $3,090,000 | $193,125 | $0 | 0.00% |
| HARTFORD-EAST HARTFORD-MIDDLETOWN, CT (FHA|USDA|VA) | 1 | $115,000 | $115,000 | $0 | 0.00% |
Their top states include:
Similar Lenders
We use machine learning to identify the top lenders compared against SOUTHBRIDGE CREDIT UNION based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.
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Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 86 | $13,490,000 | $156,860 | $0 | 0.00% |
For 2023, Southbridge Credit Union's most frequently originated type of loan was Conventional, with 86 originations.
Loan Reason
For 2023, Southbridge Credit Union's most frequently cited loan purpose was Home Improvement, with 31 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 |
|---|---|---|---|---|---|
| Other | 86 | $13,490,000 | $156,860 | $0 | 0.00% |
For 2023, Southbridge Credit Union's most frequently cited loan duration was Other, with 86 originations.
Loan Sizing
2023 saw Southbridge Credit Union place emphasis on $100,000 or less loans with 47 originations, totaling $2,475,000 in origination value.
Applicant Income
Southbridge Credit Union lent most frequently to those with incomes in the $100k-150k range, with 26 originations. The second most popular income band? $50k-75k, with 15 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Exempt% | 86 | $13,490,000 | $156,860 | $0 | 0.00% |
Southbridge Credit Union lent most frequently to those with DTI ratios of Exempt%, with 86 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications88.71%
Southbridge Credit Union has an average approval rate.
Pick Rate
Approvals leading to origination81.40%
Southbridge Credit Union has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| Exempt | 86 | $13,490,000 | $156,860 |