Northeast Credit Union Mortgage Rates, Fees & Info

Portsmouth, NH

LEI: 54930070JV4STJJ0XS74

Tax ID: 02-0222930

Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data

Jump to:

  • SimulatedRates™
  • Mortgage Calculator

    • Mortgage Data

  • Originations
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • Similar Lenders
  • Loan Length
  • Loan to Value Info
  • Debt-to-Income
  • Applicant Income
  • Ethnicity Info
  • Approval & Pick Rates
  • Points and Fees
  • Origination Fees (Closing Costs)

    • Review & Overview

    Northeast Credit Union is a smaller credit union specializing in Refi and Home Purchase loans. Northeast Credit Union has a high proportion of conventional loans. Their top markets by origination volume include: Boston, Portland, Lebanon, Concord, and Manchester among others. We have data for 9 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Northeast 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. Northeast Credit Union is typically a low 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.

    We show data for every lender and do not change our ratings-- even if an organization is a paid advertiser. Our consensus data does have lag, but it is highly correlated to a lender's rates & fees relative to their markets. This means that if a bank is a low fee/rate lender the past-- chances are they are still one today. Our SimulatedRates™ use advanced statistical techniques to forecast different rates based on a lender's historical data.

    Mortgage seekers: Choose your metro area here to explore the lowest fee & rate lenders.

    Mortgage professionals: We have various tools to make your lives easier. Contact us to see how we can help with your market research, analytics or advertising needs.

    SimulatedRates™

    Mortgage Type     		Simulated Rate Simulation Date
    Home Equity Line of Credit (HELOC) 6.12% 4/21/24
    30 Year Conventional Purchase 6.70% 4/21/24
    30 Year Conventional Refi 6.69% 4/21/24
    30 Year Cash-out Refi 6.66% 4/21/24
    15 Year Conventional Purchase 6.31% 4/21/24
    15 Year Conventional Refi 5.97% 4/21/24
    15 Year Cash-out Refi 5.97% 4/21/24
    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.

    Northeast Credit Union Mortgage Calculator






    Your Estimates

    Estimated Loan Payment: Update the calculator values and click calculate payment!

    This is not an official calculator from Northeast Credit Union. It uses our SimulatedRate™ technology, basic math and reasonable assumptions to calculate mortgage payments derived from our simulations and your inputs.

    The default purchase price is the median sales price across the US for 2022Q4, per FRED.


    Originations

    739

    Origination Dollar Volume (All Markets)

    $82,755,000

    Awards

    NORTHEAST CREDIT UNION 30 Year Conventional Loans silver NORTHEAST CREDIT UNION 30 Year Conventional Loans silver
    Show all (2) awards

    Top 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
    Boston-Cambridge-Newton, MA-NH (FHA|USDA|VA) 322 $38,500,000 $119,565 $1,318 4.61%
    PORTLAND-SOUTH PORTLAND, ME (FHA|USDA|VA) 193 $21,585,000 $111,839 $1,500 4.63%
    Outside of Metro Areas 59 $5,785,000 $98,051 $1,730 4.49%
    Lebanon, NH-VT (FHA|USDA|VA) 44 $4,430,000 $100,682 $1,308 4.39%
    Concord, NH (FHA|USDA|VA) 27 $3,615,000 $133,889 $1,905 4.42%
    MANCHESTER-NASHUA, NH (FHA|USDA|VA) 34 $3,430,000 $100,882 $951 4.62%
    Laconia, NH (FHA|USDA|VA) 23 $2,715,000 $118,043 $1,704 4.57%
    Berlin, NH (FHA|USDA|VA) 34 $2,330,000 $68,529 $758 4.35%
    Keene, NH (FHA|USDA|VA) 3 $365,000 $121,667 $2,336 4.75%
    Northeast Credit Union's top markets include Boston, Portland, Lebanon, Concord, and Manchester among others.

    Their top states include:
  • New Hampshire (FHA|USDA|VA)
  • Maine (FHA|USDA|VA)

    • Similar Lenders

    We use machine learning to identify the top lenders compared against NORTHEAST CREDIT UNION based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.

    Saco Valley Credit Union
    Similarity Rank: 70
    CASCO
    Similarity Rank: 90
    Northfield Savings Bank
    Similarity Rank: 95
    MERRIMACK VALLEY
    Similarity Rank: 110
    Middlesex Federal Savings, F.A.
    Similarity Rank: 111
    Members First Credit Union N.H.
    Similarity Rank: 119
    CUMBERLAND COUNTY
    Similarity Rank: 120
    Maine Savings Federal Credit Union
    Similarity Rank: 160
    First Ipswich Bank
    Similarity Rank: 164
    Middlesex Savings Bank
    Similarity Rank: 165

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 594 $74,590,000 $125,572 $1,391 4.48%
    HELOC 145 $8,165,000 $56,310 n/a 4.93%

    For 2018, Northeast Credit Union's most frequently originated type of loan was Conventional, with 594 originations. Their 2nd most popular type was HELOC, with 145 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Improvement 322 $16,350,000 $50,776 $154 4.91%
    Refi 207 $25,225,000 $121,860 $752 4.29%
    Home Purchase 171 $33,825,000 $197,807 $2,920 4.27%
    Cash Out Refi 39 $7,355,000 $188,590 $3,778 4.57%

    For 2018, Northeast Credit Union's most frequently cited loan purpose was Home Improvement, with 322 originations. The 2nd most popular reason was Refi, with 207 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 215 $14,495,000 $67,419 $1,698 4.79%
    15 Year 210 $24,190,000 $115,190 $361 4.18%
    30 Year 195 $37,835,000 $194,026 $3,024 4.36%
    10 Year 86 $4,110,000 $47,791 $4 5.47%
    5 Year 20 $530,000 $26,500 $19 4.69%
    20 Year 11 $1,515,000 $137,727 $3,123 4.32%
    3 Year 2 $80,000 $40,000 $0 3.99%

    For 2018, Northeast Credit Union's most frequently cited loan duration was Other, with 215 originations. The 2nd most popular length was 15 Year, with 210 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 471 $48,245,000 $102,431
    $1k-2k 52 $10,280,000 $197,692
    $2k-3k 27 $5,465,000 $202,407
    $3k-4k 20 $5,180,000 $259,000
    $4k-5k 11 $3,415,000 $310,455
    $5k+ 5 $1,545,000 $309,000

    Northeast Credit Union's average total fees were $3,024, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 471 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    4-5% 336 $44,470,000 $132,351
    3-4% 230 $25,570,000 $111,174
    5-6% 132 $6,920,000 $52,424
    2.5-3% 31 $5,355,000 $172,742
    6-7% 9 $365,000 $40,556
    7-8% 1 $75,000 $75,000

    During 2018, Northeast Credit Union's average interest rate for loans was 4.36%, while their most frequently originated rate bucket for loans was 4-5%, with 336 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 411 $19,225,000 $46,776 $312 4.80%
    $100k-200k 196 $28,570,000 $145,765 $1,580 4.25%
    $200k-400k 125 $31,575,000 $252,600 $3,312 4.31%
    $400k-600k 7 $3,385,000 $483,571 $7,017 4.63%

    2018 saw Northeast Credit Union place emphasis on $100,000 or less loans with 411 originations, totaling $19,225,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 199 $24,615,000 $123,693 $1,631 4.68%
    $75k-100k 182 $19,660,000 $108,022 $1,205 4.50%
    $50k-75k 167 $16,545,000 $99,072 $1,318 4.49%
    $150k-250k 96 $13,840,000 $144,167 $1,554 4.78%
    $50k or less 70 $5,030,000 $71,857 $1,168 4.34%
    $250k+ 13 $2,115,000 $162,692 $2,963 4.70%

    Northeast Credit Union lent most frequently to those with incomes in the $100k-150k range, with 199 originations. The second most popular income band? $75k-100k, with 182 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 220 $23,000,000 $104,545 $1,186 4.54%
    30-36% 179 $22,455,000 $125,447 $1,503 4.59%
    <20% 61 $5,755,000 $94,344 $902 4.40%
    36% 35 $4,455,000 $127,286 $1,317 4.53%
    42% 31 $2,735,000 $88,226 $668 4.69%
    38% 31 $3,545,000 $114,355 $1,303 4.59%
    39% 30 $3,910,000 $130,333 $1,429 4.56%
    43% 29 $2,685,000 $92,586 $1,295 4.91%
    40% 29 $2,255,000 $77,759 $680 4.58%
    41% 27 $2,945,000 $109,074 $1,861 4.74%
    37% 17 $2,035,000 $119,706 $1,805 4.26%
    44% 17 $2,265,000 $133,235 $2,921 4.74%
    46% 8 $920,000 $115,000 $2,786 4.72%
    45% 6 $890,000 $148,333 $3,980 4.64%
    50-60% 6 $710,000 $118,333 $3,478 4.35%
    47% 4 $830,000 $207,500 $3,937 4.88%
    48% 3 $535,000 $178,333 $4,474 4.54%
    >60% 3 $195,000 $65,000 $0 4.74%
    49% 1 $425,000 $425,000 $9,444 4.00%

    Northeast Credit Union lent most frequently to those with DTI ratios of 20-30%, with 220 originations. The next most common DTI ratio? 30-36%, with 179 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 696 $77,650,000 $111,566 $1,374 4.56%
    Not provided 33 $4,245,000 $128,636 $2,038 4.81%
    American Indian 3 $285,000 $95,000 $683 4.49%
    Not applicable 3 $245,000 $81,667 $0 4.66%
    Black 2 $170,000 $85,000 $1,397 4.50%
    Asian 2 $160,000 $80,000 $0 4.62%

    Approval Rates

    Total approvals of all applications
    69.96%

    Northeast Credit Union has a low approval rate. They may have poor market targeting or stringent lending standards.

    Pick Rate

    Approvals leading to origination
    67.52%

    Northeast 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 739 $82,755,000 $111,982

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Single Family (1-4 Units):Manufactured 7 $865,000 $123,571
    Single Family (1-4 Units):Site-Built 732 $81,890,000 $111,872

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 129 $10,365,000 $80,349 $406 4.65%
    40-60% 92 $12,180,000 $132,391 $978 4.27%
    60-80% 147 $27,715,000 $188,537 $2,497 4.35%
    80-100% 101 $20,585,000 $203,812 $2,566 4.06%
    Under 20% 260 $9,090,000 $34,962 $21 4.96%