Southbridge Credit Union Mortgage Rates, Fees & Info
Southbridge, MALEI: 5493005JR8XLPW5ROU93
Tax ID: 04-2023790
Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data
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Mortgage Data
Review & Overview
Southbridge Credit Union is a smaller credit union specializing in Cash Out Refi and Home Purchase loans. Southbridge Credit Union has a high proportion of conventional loans. Their top markets by origination volume include: Worcester, Springfield, and Providence 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
126Origination Dollar Volume (All Markets)
$26,330,000Top 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) | 96 | $18,540,000 | $193,125 | $0 | 0.00% |
| SPRINGFIELD, MA (FHA|USDA|VA) | 29 | $7,475,000 | $257,759 | $0 | 0.00% |
| PROVIDENCE-WARWICK, RI-MA (FHA|USDA|VA) | 1 | $315,000 | $315,000 | $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 | 126 | $26,330,000 | $208,968 | $0 | 0.00% |
For 2022, Southbridge Credit Union's most frequently originated type of loan was Conventional, with 126 originations.
Loan Reason
For 2022, Southbridge Credit Union's most frequently cited loan purpose was Cash Out Refi, with 47 originations. The 2nd most popular reason was Home Purchase, with 35 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Other | 126 | $26,330,000 | $208,968 | $0 | 0.00% |
For 2022, Southbridge Credit Union's most frequently cited loan duration was Other, with 126 originations.
Loan Sizing
2022 saw Southbridge Credit Union place emphasis on $200k-400k loans with 42 originations, totaling $11,720,000 in origination value.
Applicant Income
Southbridge Credit Union lent most frequently to those with incomes in the $100k-150k range, with 33 originations. The second most popular income band? $150k-250k, with 22 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Exempt% | 126 | $26,330,000 | $208,968 | $0 | 0.00% |
Southbridge Credit Union lent most frequently to those with DTI ratios of Exempt%, with 126 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications87.78%
Southbridge Credit Union has an average approval rate.
Pick Rate
Approvals leading to origination84.13%
Southbridge Credit Union has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| Exempt | 126 | $26,330,000 | $208,968 |