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
  • Complaints
  • 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 Home Improvement, Refi, and Cash Out Refi 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 13 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Northeast 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. 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% 11/23/24
    30 Year Conventional Purchase 6.70% 11/23/24
    30 Year Conventional Refi 6.69% 11/23/24
    30 Year Cash-out Refi 6.66% 11/23/24
    15 Year Conventional Purchase 6.31% 11/23/24
    15 Year Conventional Refi 5.97% 11/23/24
    15 Year Cash-out Refi 5.97% 11/23/24
    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

    1,412

    Origination Dollar Volume (All Markets)

    $205,420,000

    Awards

    NORTHEAST CREDIT UNION 30 Year Conventional Loans bronze
    Show all (1) 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) 567 $84,785,000 $149,533 $3,589 3.33%
    PORTLAND-SOUTH PORTLAND, ME (FHA|USDA|VA) 398 $59,330,000 $149,070 $3,935 3.31%
    Outside of Metro Areas 133 $17,765,000 $133,571 $2,967 3.35%
    Lebanon, NH-VT (FHA|USDA|VA) 85 $11,945,000 $140,529 $3,395 3.25%
    Concord, NH (FHA|USDA|VA) 65 $10,255,000 $157,769 $3,741 3.32%
    MANCHESTER-NASHUA, NH (FHA|USDA|VA) 67 $9,725,000 $145,149 $3,252 3.47%
    Laconia, NH (FHA|USDA|VA) 33 $5,055,000 $153,182 $4,339 3.41%
    Berlin, NH (FHA|USDA|VA) 51 $5,035,000 $98,725 $1,795 3.38%
    Keene, NH (FHA|USDA|VA) 5 $585,000 $117,000 $1,879 3.92%
    LEWISTON-AUBURN, ME (FHA|USDA|VA) 3 $385,000 $128,333 $2,197 3.91%
    Augusta-Waterville, ME (FHA|USDA|VA) 2 $250,000 $125,000 $4,870 3.13%
    Barre, VT (FHA|USDA|VA) 1 $185,000 $185,000 $4,903 2.75%
    BANGOR, ME (FHA|USDA|VA) 2 $120,000 $60,000 $2,913 3.00%
    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)
  • Vermont (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.

    INFINITY Federal Credit Union
    Similarity Rank: 136
    Northfield Savings Bank
    Similarity Rank: 155
    CASCO
    Similarity Rank: 226
    TOWN & COUNTRY FEDERAL CREDIT UNION
    Similarity Rank: 240
    Sharon & Crescent United Credit Union
    Similarity Rank: 335
    CUMBERLAND COUNTY
    Similarity Rank: 464
    LUSO-AMERICAN CREDIT UNION
    Similarity Rank: 474
    VERMONT STATE EMPLOYEES
    Similarity Rank: 530
    Kennebec Savings Bank
    Similarity Rank: 535
    Saco & Biddeford Savings Institution
    Similarity Rank: 556

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 848 $160,290,000 $189,021 $3,501 3.35%
    HELOC 564 $45,130,000 $80,018 n/a 3.31%

    For 2021, Northeast Credit Union's most frequently originated type of loan was Conventional, with 848 originations. Their 2nd most popular type was HELOC, with 564 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Improvement 635 $45,855,000 $72,213 $9 3.60%
    Refi 324 $58,640,000 $180,988 $3,665 3.13%
    Cash Out Refi 286 $62,210,000 $217,517 $4,780 3.03%
    Home Purchase 167 $38,715,000 $231,826 $4,005 3.20%

    For 2021, Northeast Credit Union's most frequently cited loan purpose was Home Improvement, with 635 originations. The 2nd most popular reason was Refi, with 324 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 655 $63,415,000 $96,817 $4,506 3.36%
    30 Year 338 $78,620,000 $232,604 $4,316 3.22%
    15 Year 220 $32,210,000 $146,409 $2,243 3.17%
    20 Year 130 $27,310,000 $210,077 $4,459 2.91%
    10 Year 62 $3,560,000 $57,419 $408 4.98%
    5 Year 7 $305,000 $43,571 $0 4.09%

    For 2021, Northeast Credit Union's most frequently cited loan duration was Other, with 655 originations. The 2nd most popular length was 30 Year, with 338 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 388 $51,360,000 $132,371
    $1k-2k 178 $32,580,000 $183,034
    $2k-3k 106 $22,860,000 $215,660
    $3k-4k 71 $17,325,000 $244,014
    $5k+ 62 $23,130,000 $373,065
    $4k-5k 42 $12,830,000 $305,476

    Northeast Credit Union's average total fees were $4,316, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 388 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    3-4% 843 $110,025,000 $130,516
    2.5-3% 418 $80,660,000 $192,967
    4-5% 55 $4,245,000 $77,182
    5-6% 45 $2,165,000 $48,111
    <2.5% 44 $8,060,000 $183,182
    6-7% 7 $265,000 $37,857

    During 2021, Northeast Credit Union's average interest rate for loans was 3.22%, while their most frequently originated rate bucket for loans was 3-4%, with 843 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 599 $31,725,000 $52,963 $651 3.66%
    $100k-200k 403 $57,015,000 $141,476 $3,171 3.11%
    $200k-400k 364 $94,230,000 $258,874 $4,927 3.07%
    $400k-600k 42 $19,280,000 $459,048 $8,180 3.11%
    $600k-1MM 3 $2,125,000 $708,333 $7,212 2.96%
    $1MM+ 1 $1,045,000 $1,045,000 $18,657 3.63%

    2021 saw Northeast Credit Union place emphasis on $100,000 or less loans with 599 originations, totaling $31,725,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 379 $55,915,000 $147,533 $3,524 3.40%
    $75k-100k 322 $45,790,000 $142,205 $3,596 3.29%
    $50k-75k 271 $32,745,000 $120,830 $3,086 3.34%
    $150k-250k 264 $48,830,000 $184,962 $4,447 3.28%
    $50k or less 119 $11,205,000 $94,160 $2,229 3.29%
    $250k+ 44 $9,960,000 $226,364 $5,313 3.41%

    Northeast Credit Union lent most frequently to those with incomes in the $100k-150k range, with 379 originations. The second most popular income band? $75k-100k, with 322 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 398 $58,650,000 $147,362 $3,611 3.27%
    30-36% 316 $43,200,000 $136,709 $3,366 3.31%
    <20% 122 $16,280,000 $133,443 $3,082 3.24%
    37% 67 $10,305,000 $153,806 $4,127 3.22%
    43% 56 $7,610,000 $135,893 $3,441 3.42%
    40% 56 $8,130,000 $145,179 $3,022 3.55%
    39% 48 $8,670,000 $180,625 $3,818 3.52%
    42% 45 $6,695,000 $148,778 $3,314 3.54%
    36% 45 $7,405,000 $164,556 $3,099 3.43%
    38% 45 $7,345,000 $163,222 $3,705 3.24%
    41% 42 $6,440,000 $153,333 $3,073 3.44%
    44% 41 $6,695,000 $163,293 $4,176 3.39%
    45% 30 $3,950,000 $131,667 $4,086 3.52%
    46% 27 $3,255,000 $120,556 $2,778 3.62%
    47% 23 $3,455,000 $150,217 $4,273 3.14%
    50-60% 18 $2,060,000 $114,444 $2,863 3.40%
    48% 17 $2,385,000 $140,294 $3,499 3.25%
    49% 13 $2,445,000 $188,077 $4,644 3.03%
    >60% 2 $240,000 $120,000 $2,731 3.44%

    Northeast Credit Union lent most frequently to those with DTI ratios of 20-30%, with 398 originations. The next most common DTI ratio? 30-36%, with 316 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 1,295 $189,465,000 $146,305 $3,517 3.33%
    Not provided 98 $12,540,000 $127,959 $3,209 3.35%
    Asian 8 $1,400,000 $175,000 $3,937 3.17%
    American Indian 5 $925,000 $185,000 $3,547 2.90%
    Black 4 $730,000 $182,500 $3,404 3.11%
    Not applicable 1 $205,000 $205,000 $0 3.75%
    Chinese 1 $155,000 $155,000 $2,826 2.88%

    Approval Rates

    Total approvals of all applications
    80.04%

    Northeast Credit Union has a below average approval rate.

    Pick Rate

    Approvals leading to origination
    71.18%

    Northeast Credit Union has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 1,412 $205,420,000 $145,482

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    1,412 $205,420,000 $145,482

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 295 $32,165,000 $109,034 $1,818 3.27%
    40-60% 231 $40,985,000 $177,424 $3,349 3.02%
    60-80% 292 $72,350,000 $247,774 $4,909 3.12%
    80-100% 137 $37,005,000 $270,109 $5,048 3.17%
    Over 100% 1 $325,000 $325,000 $9,643 3.25%
    Under 20% 455 $22,275,000 $48,956 $220 3.71%

    Complaints

    Bank Name Product Issue 2021 CPFB Complaints % of Total Issues
    NORTHWEST BANCSHARES INC Conventional home mortgage Struggling to pay mortgage 1 11.1%
    NORTHWEST BANCSHARES INC Conventional home mortgage Trouble during payment process 5 55.6%
    NORTHWEST BANCSHARES INC Home equity loan or line of credit (HELOC) Trouble during payment process 1 11.1%
    NORTHWEST BANCSHARES INC Other type of mortgage Applying for a mortgage or refinancing an existing mortgage 1 11.1%
    NORTHWEST BANCSHARES INC Other type of mortgage Struggling to pay mortgage 1 11.1%