Hudson Valley Credit Union Mortgage Rates, Fees & Info

Poughkeepsie, NY

LEI: 54930085BPQMVH9JFX69

Tax ID: 14-1471439

5 stars - out of 5 stars, based on 60 reviews

2021 Data | 2020 Data | 2019 Data | 2018 Data


Overview

Hudson Valley Credit Union is a smaller credit union specializing in Refi, Home Purchase, and Cash Out Refi loans. Hudson Valley Credit Union has a high proportion of conventional loans. They have a a low proportion of FHA loans. (This may mean they shy away from first time homebuyers.) Their top markets include Poughkeepsie, New York, Kingston, Bridgeport, and Hudson among others. Hudson Valley Credit Union has an average approval rate for mortages when compared nationally. They have a below average pick rate when compared to the same sample of other lendors. Hudson Valley Credit Union is typically an average fee lendor.


Originations

3,624

Origination Dollar Volume (All Markets)

$606,600,000
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Relative Rate

Hudson Valley Credit Union's average 30 year fixed rate mortgage of loans were 3.03%.

The 2021 average 30 year fixed rate mortgage across all markets of loans were 3.15%.

This yields a difference of -0.12%.

Relative Fees

Hudson Valley Credit Union's average total fees for a 30 year fixed rate mortgage are $3,719.

The average total origination fees for 30 year fixed rate mortgages (for all loan values, including both points & up-front fees in addition to origination fees) are $4,750.

Top Markets

Market Originations Total Value Average Loan Average Fees Average Rate
POUGHKEEPSIE-NEWBURGH-MIDDLETOWN, NY (FHA|USDA|VA) 2,437 $391,235,000 $160,540 $2,814 2.83%
New York-Newark-Jersey City, NY-NJ-PA (FHA|USDA|VA) 484 $98,100,000 $202,686 $3,621 2.74%
KINGSTON, NY (FHA|USDA|VA) 460 $70,380,000 $153,000 $2,769 2.79%
Outside of Metro Areas 87 $12,795,000 $147,069 $2,831 3.06%
BRIDGEPORT-STAMFORD-NORWALK, CT (FHA|USDA|VA) 43 $10,145,000 $235,930 $4,117 2.88%
Hudson, NY (FHA|USDA|VA) 33 $6,385,000 $193,485 $3,412 2.74%
ALBANY-SCHENECTADY-TROY, NY (FHA|USDA|VA) 29 $5,105,000 $176,034 $2,904 2.83%
NEW HAVEN-MILFORD, CT (FHA|USDA|VA) 7 $3,235,000 $462,143 $4,939 2.77%
HARTFORD-EAST HARTFORD-MIDDLETOWN, CT (FHA|USDA|VA) 14 $3,200,000 $228,571 $2,310 3.07%
Torrington, CT (FHA|USDA|VA) 5 $1,545,000 $309,000 $4,409 2.95%
GLENS FALLS, NY (FHA|USDA|VA) 5 $1,015,000 $203,000 $3,301 2.50%
Gloversville, NY (FHA|USDA|VA) 6 $580,000 $96,667 $2,468 2.64%
Philadelphia-Camden-Wilmington, PA-NJ-DE-MD (FHA|USDA|VA) 2 $500,000 $250,000 $5,145 3.19%
SCRANTON--WILKES-BARRE, PA (FHA|USDA|VA) 2 $470,000 $235,000 $5,492 3.06%
ROCHESTER, NY (FHA|USDA|VA) 2 $420,000 $210,000 $2,855 2.75%
PITTSBURGH, PA (FHA|USDA|VA) 1 $325,000 $325,000 $5,623 3.13%
Amsterdam, NY (FHA|USDA|VA) 1 $285,000 $285,000 $3,806 3.25%
BUFFALO-CHEEKTOWAGA, NY (FHA|USDA|VA) 1 $255,000 $255,000 $4,088 3.25%
Plattsburgh, NY (FHA|USDA|VA) 1 $205,000 $205,000 $3,151 3.13%
Olean, NY (FHA|USDA|VA) 1 $145,000 $145,000 $2,450 2.75%
ALLENTOWN-BETHLEHEM-EASTON, PA-NJ (FHA|USDA|VA) 1 $115,000 $115,000 $3,380 2.88%
NORWICH-NEW LONDON, CT (FHA|USDA|VA) 1 $105,000 $105,000 $0 2.24%
ITHACA, NY (FHA|USDA|VA) 1 $55,000 $55,000 $0 2.24%

Hudson Valley Credit Union's top markets include Poughkeepsie, New York, Kingston, Bridgeport, and Hudson among others.

Product Mix

Loan Type Originations Total Value Average Loan Average Fees Average Rate
Conventional 3,601 $601,465,000 $167,027 $2,893 2.82%
FHA 22 $4,850,000 $220,455 $6,561 3.25%
VA 1 $285,000 $285,000 $12,172 3.38%

For the 2021 period, Hudson Valley Credit Union's most frequently originated loan type of loans were Conventional, with 3,601 originations. Their 2nd most popular type is FHA, with 22 originations.

Loan Reason

Loan Reason Originations Total Value Average Loan Average Fees Average Rate
Home Improvement 1,213 $101,245,000 $83,467 $221 2.72%
Refi 847 $167,505,000 $197,763 $2,960 2.71%
Home Purchase 577 $155,455,000 $269,419 $3,522 2.98%
Cash Out Refi 564 $141,870,000 $251,543 $3,782 2.84%
Other 423 $40,525,000 $95,804 $449 3.06%

For the 2021, Hudson Valley Credit Union's most frequently cited loan purpose of loans were Home Improvement, with 1,213 originations. The 2nd most popular reason of loans were Refi, with 847 originations.

Loan Duration/Length

Loan Length Originations Total Value Average Loan Average Fees Average Rate
20 Year 1,787 $185,785,000 $103,965 $1,914 2.54%
30 Year 880 $223,040,000 $253,455 $3,719 3.03%
15 Year 641 $148,185,000 $231,178 $2,804 2.81%
10 Year 157 $26,875,000 $171,178 $2,181 3.48%
Other 149 $21,395,000 $143,591 $1,633 4.11%
5 Year 10 $1,320,000 $132,000 $0 4.22%

For the 2021, Hudson Valley Credit Union's most frequently cited loan length of loans were 20 Year, with 1,787 originations. The 2nd most popular length of loans were 30 Year, with 880 originations.

Origination Fees

Origination Fee Originations Total Value Average Loan
$<1k 1,448 $269,420,000 $186,064
$1k-2k 374 $90,230,000 $241,257
$2k-3k 125 $35,185,000 $281,480
$3k-4k 79 $23,055,000 $291,835
$5k+ 47 $16,585,000 $352,872

$3,719 of loans were Hudson Valley Credit Union's average total fees, while their most frequently occuring range of origination fees were in the $<1k bucket, with 1,448 originations.

Interest Rates

Loan Rate Originations Total Value Average Loan
<2.5% 1,916 $229,170,000 $119,609
2.5-3% 898 $231,230,000 $257,494
3-4% 500 $125,020,000 $250,040
5-6% 210 $13,730,000 $65,381
4-5% 83 $6,285,000 $75,723
6-7% 15 $955,000 $63,667
7-8% 2 $210,000 $105,000

During 2021, Hudson Valley Credit Union's average interest rate of loans were 3.03%, while their most frequently originated rate bucket of loans were <2.5%, with 1,916 originations.

Loan Sizing

Loan Size Originations Total Value Average Loan Average Fees Average Rate
$100,000 or less 1,260 $69,690,000 $55,310 $558 2.94%
$100k-200k 1,191 $172,065,000 $144,471 $2,822 2.67%
$200k-400k 1,017 $275,095,000 $270,497 $3,609 2.84%
$400k-600k 127 $59,435,000 $467,992 $4,846 2.86%
$600k-1MM 19 $14,255,000 $750,263 $11,041 3.16%
$1MM+ 10 $16,060,000 $1,606,000 $0 3.09%

2021 saw Hudson Valley Credit Union place emphasis on $100,000 or less loans with 1,260 originations, totaling $69,690,000 in origination value.

Applicant Income

Applicant Income Originations Total Value Average Loan Average Fees Average Rate
$100k-150k 1,123 $180,475,000 $160,708 $2,918 2.82%
$150k-250k 853 $151,005,000 $177,028 $3,080 2.78%
$75k-100k 647 $97,215,000 $150,255 $2,878 2.83%
$50k-75k 520 $69,870,000 $134,365 $2,731 2.85%
$250k+ 262 $57,960,000 $221,221 $3,591 2.72%
$50k or less 173 $17,295,000 $99,971 $2,603 2.81%

Hudson Valley Credit Union lent most frequently to those with incomes in the $100k-150k range, with 1,123 originations. The second most popular income band? $150k-250k, with 853 originations.

Applicant Debt to Income Ratio

DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
20-30% 929 $156,215,000 $168,154 $3,036 2.73%
30-36% 661 $106,455,000 $161,051 $2,992 2.82%
<20% 351 $58,385,000 $166,339 $2,949 2.66%
41% 141 $25,005,000 $177,340 $3,052 2.89%
40% 128 $21,930,000 $171,328 $3,325 2.84%
42% 120 $21,730,000 $181,083 $2,938 2.94%
36% 120 $19,870,000 $165,583 $3,760 2.81%
44% 119 $17,245,000 $144,916 $2,602 2.98%
39% 119 $19,145,000 $160,882 $3,065 2.86%
37% 118 $17,800,000 $150,847 $2,730 2.87%
38% 111 $15,665,000 $141,126 $2,522 2.94%
43% 103 $15,625,000 $151,699 $2,837 2.92%
49% 100 $14,870,000 $148,700 $2,607 2.77%
47% 95 $14,185,000 $149,316 $2,610 2.99%
46% 92 $13,160,000 $143,043 $2,292 2.97%
45% 88 $13,830,000 $157,159 $2,751 2.98%
50-60% 88 $8,690,000 $98,750 $392 2.72%
48% 84 $12,640,000 $150,476 $2,792 2.79%
>60% 10 $850,000 $85,000 $24 2.52%

Hudson Valley Credit Union lent most frequently to those with DTI ratios of 20-30%, with 929 originations. The next most common DTI ratio? 30-36%, with 661 originations.

Ethnicity Mix

Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
White 2,698 $422,090,000 $156,446 $2,846 2.81%
Not provided 599 $105,455,000 $176,052 $3,175 2.80%
Not applicable 42 $32,120,000 $764,762 $0 3.53%
Black 155 $23,645,000 $152,548 $3,107 2.92%
Asian 84 $15,370,000 $182,976 $3,391 2.73%
American Indian 31 $4,695,000 $151,452 $2,536 3.10%
Asian Indian 8 $2,240,000 $280,000 $5,160 2.56%
Filipino 2 $430,000 $215,000 $4,138 2.56%
Other Pacific Islander 1 $225,000 $225,000 $5,484 3.00%
Native Hawaiian 2 $180,000 $90,000 $2,306 2.62%
Other Asian 1 $95,000 $95,000 $2,678 2.25%
Chinese 1 $55,000 $55,000 $0 2.24%

Approval Rates

Total approvals of all applications
71.35%

Hudson Valley Credit Union has a below average approval rate.

Pick Rate

Approvals leading to origination
56.76%

Hudson Valley 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 3,624 $606,600,000 $167,384

Occupancy Type Mix

Dwelling Type Originations Total Value Average Loan
3,624 $606,600,000 $167,384

LTV Distribution

Loan to Value Originations Total Value Average Loan Average Fees Average Rate
20-40% 796 $93,240,000 $117,136 $1,701 2.73%
40-60% 586 $117,620,000 $200,717 $2,976 2.63%
60-80% 815 $225,705,000 $276,939 $3,784 2.85%
80-100% 411 $112,865,000 $274,611 $3,651 2.98%
Over 100% 1 $275,000 $275,000 $5,544 2.88%
Under 20% 1,015 $56,895,000 $56,054 $154 2.90%

Complaints

Bank Name Product Issue 2021 CPFB Complaints % of Total Issues
Hudson United Mortgage LLC Conventional home mortgage Trouble during payment process 1 100.0%