Northrop Grumman Federal Credit Union Mortgage Rates, Fees & Info

Gardena, CA

LEI: 5493009D2COWW65B8673

Tax ID: 95-6040815

5 stars - out of 5 stars, based on 26 reviews

2021 Data | 2020 Data | 2019 Data | 2018 Data


Overview

Northrop Grumman Federal Credit Union is a smaller credit union specializing in Refi loans. Northrop Grumman Federal Credit Union has a high proportion of conventional loans. Their top markets include Los Angeles, Baltimore, Riverside, Palm Bay, and San Diego among others. Northrop Grumman Federal Credit Union has an above average approval rate for mortages when compared nationally. They have a below average pick rate when compared to the same sample of other lendors. Northrop Grumman Federal Credit Union is typically an average fee lendor.


Originations

701

Origination Dollar Volume (All Markets)

$220,175,000
Show all (9) awards

Relative Rate

Northrop Grumman Federal Credit Union's average 30 year fixed rate mortgage of loans were 3%.

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

This yields a difference of -0.15%.

Relative Fees

Northrop Grumman Federal Credit Union's average total fees for a 30 year fixed rate mortgage are $3,907.

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
Los Angeles-Long Beach-Anaheim, CA (FHA|USDA|VA) 237 $84,885,000 $358,165 $3,675 2.82%
BALTIMORE-COLUMBIA-TOWSON, MD (FHA|USDA|VA) 89 $24,925,000 $280,056 $3,421 2.77%
RIVERSIDE-SAN BERNARDINO-ONTARIO, CA (FHA|USDA|VA) 55 $16,975,000 $308,636 $3,733 2.87%
PALM BAY-MELBOURNE-TITUSVILLE, FL (FHA|USDA|VA) 50 $12,840,000 $256,800 $3,893 2.78%
SAN DIEGO-CHULA VISTA-CARLSBAD, CA (FHA|USDA|VA) 26 $10,970,000 $421,923 $3,729 2.83%
Washington-Arlington-Alexandria, DC-VA-MD-WV (FHA|USDA|VA) 26 $8,710,000 $335,000 $3,291 2.83%
Chicago-Naperville-Elgin, IL-IN-WI (FHA|USDA|VA) 25 $6,815,000 $272,600 $3,602 2.86%
PHOENIX-MESA-CHANDLER, AZ (FHA|USDA|VA) 23 $5,885,000 $255,870 $3,076 2.67%
BAKERSFIELD, CA (FHA|USDA|VA) 10 $2,270,000 $227,000 $3,589 3.16%
OXNARD-THOUSAND OAKS-VENTURA, CA (FHA|USDA|VA) 5 $2,195,000 $439,000 $3,003 3.03%
ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) 10 $2,070,000 $207,000 $4,224 2.80%
LAS VEGAS-HENDERSON-PARADISE, NV (FHA|USDA|VA) 9 $2,005,000 $222,778 $3,517 2.85%
San Francisco-Oakland-Berkeley, CA (FHA|USDA|VA) 3 $1,905,000 $635,000 $5,973 2.79%
DENVER-AURORA-LAKEWOOD, CO (FHA|USDA|VA) 5 $1,755,000 $351,000 $3,527 2.73%
SAN JOSE-SUNNYVALE-SANTA CLARA, CA (FHA|USDA|VA) 3 $1,545,000 $515,000 $10,837 3.00%
SACRAMENTO-ROSEVILLE-FOLSOM, CA (FHA|USDA|VA) 5 $1,515,000 $303,000 $3,055 2.50%
SALISBURY, MD-DE (FHA|USDA|VA) 5 $1,425,000 $285,000 $4,088 2.48%
RALEIGH-CARY, NC (FHA|USDA|VA) 3 $1,355,000 $451,667 $4,633 3.08%
OGDEN-CLEARFIELD, UT (FHA|USDA|VA) 4 $1,340,000 $335,000 $3,574 2.75%
RENO, NV (FHA|USDA|VA) 2 $1,300,000 $650,000 $4,832 3.19%
Dallas-Fort Worth-Arlington, TX (FHA|USDA|VA) 5 $1,245,000 $249,000 $4,061 2.68%
Outside of Metro Areas 4 $1,220,000 $305,000 $3,533 3.00%
JACKSONVILLE, FL (FHA|USDA|VA) 5 $1,205,000 $241,000 $4,079 2.65%
SANTA MARIA-SANTA BARBARA, CA (FHA|USDA|VA) 2 $1,190,000 $595,000 $3,010 2.75%
COLORADO SPRINGS, CO (FHA|USDA|VA) 3 $1,175,000 $391,667 $5,272 2.92%
Sebastian-Vero Beach, FL (FHA|USDA|VA) 4 $980,000 $245,000 $3,910 2.78%
PRESCOTT VALLEY-PRESCOTT, AZ (FHA|USDA|VA) 3 $825,000 $275,000 $2,554 3.00%
OKLAHOMA CITY, OK (FHA|USDA|VA) 4 $810,000 $202,500 $4,352 2.41%
MINNEAPOLIS-ST. PAUL-BLOOMINGTON, MN-WI (FHA|USDA|VA) 3 $785,000 $261,667 $3,102 2.83%
Gardnerville Ranchos, NV (FHA|USDA|VA) 1 $705,000 $705,000 $3,977 2.50%
SAN ANTONIO-NEW BRAUNFELS, TX (FHA|USDA|VA) 2 $660,000 $330,000 $4,159 2.75%
CHARLOTTE-CONCORD-GASTONIA, NC-SC (FHA|USDA|VA) 3 $635,000 $211,667 $3,233 2.83%
Corinth, MS (FHA|USDA|VA) 1 $595,000 $595,000 $3,337 3.25%
PORTLAND-VANCOUVER-HILLSBORO, OR-WA (FHA|USDA|VA) 2 $550,000 $275,000 $4,114 2.81%
Crossville, TN (FHA|USDA|VA) 1 $545,000 $545,000 $6,001 2.88%
SAN LUIS OBISPO-PASO ROBLES, CA (FHA|USDA|VA) 2 $540,000 $270,000 $3,026 3.13%
MEMPHIS, TN-MS-AR (FHA|USDA|VA) 2 $540,000 $270,000 $2,921 2.69%
Greenwood, SC (FHA|USDA|VA) 1 $525,000 $525,000 $6,992 3.13%
ROCKY MOUNT, NC (FHA|USDA|VA) 1 $505,000 $505,000 $3,580 2.38%
North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) 1 $455,000 $455,000 $5,212 2.50%
SALT LAKE CITY, UT (FHA|USDA|VA) 2 $430,000 $215,000 $3,521 2.38%
HUNTSVILLE, AL (FHA|USDA|VA) 1 $395,000 $395,000 $2,996 3.50%
WICHITA, KS (FHA|USDA|VA) 1 $375,000 $375,000 $3,026 2.38%
BUFFALO-CHEEKTOWAGA, NY (FHA|USDA|VA) 2 $370,000 $185,000 $4,658 2.63%
HAGERSTOWN-MARTINSBURG, MD-WV (FHA|USDA|VA) 2 $370,000 $185,000 $5,117 2.94%
POCATELLO, ID (FHA|USDA|VA) 1 $365,000 $365,000 $5,640 3.25%
SPOKANE-SPOKANE VALLEY, WA (FHA|USDA|VA) 1 $355,000 $355,000 $3,541 3.25%
LOUISVILLE/JEFFERSON COUNTY, KY-IN (FHA|USDA|VA) 2 $340,000 $170,000 $2,903 2.69%
Pahrump, NV (FHA|USDA|VA) 1 $335,000 $335,000 $3,094 3.13%
CALIFORNIA-LEXINGTON PARK, MD (FHA|USDA|VA) 1 $335,000 $335,000 $2,951 2.63%
CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) 2 $320,000 $160,000 $4,147 2.81%
CINCINNATI, OH-KY-IN (FHA|USDA|VA) 1 $315,000 $315,000 $2,871 2.88%
STOCKTON, CA (FHA|USDA|VA) 1 $315,000 $315,000 $2,809 2.75%
SOUTH BEND-MISHAWAKA, IN-MI (FHA|USDA|VA) 1 $305,000 $305,000 $3,542 2.88%
New York-Newark-Jersey City, NY-NJ-PA (FHA|USDA|VA) 1 $305,000 $305,000 $5,803 3.13%
TYLER, TX (FHA|USDA|VA) 1 $295,000 $295,000 $4,748 2.38%
FRESNO, CA (FHA|USDA|VA) 1 $295,000 $295,000 $5,946 2.38%
CARSON CITY, NV (FHA|USDA|VA) 1 $285,000 $285,000 $2,427 2.88%
LANCASTER, PA (FHA|USDA|VA) 1 $265,000 $265,000 $6,307 2.25%
TUCSON, AZ (FHA|USDA|VA) 1 $255,000 $255,000 $2,551 2.50%
ROANOKE, VA (FHA|USDA|VA) 1 $255,000 $255,000 $3,810 3.25%
Fredericksburg, TX (FHA|USDA|VA) 1 $255,000 $255,000 $2,813 3.00%
DURHAM-CHAPEL HILL, NC (FHA|USDA|VA) 1 $245,000 $245,000 $2,396 2.88%
ALLENTOWN-BETHLEHEM-EASTON, PA-NJ (FHA|USDA|VA) 1 $225,000 $225,000 $4,566 3.25%
Mayfield, KY (FHA|USDA|VA) 1 $225,000 $225,000 $3,794 2.88%
MODESTO, CA (FHA|USDA|VA) 1 $225,000 $225,000 $5,649 3.13%
LAKE HAVASU CITY-KINGMAN, AZ (FHA|USDA|VA) 1 $215,000 $215,000 $3,076 3.63%
LOGAN, UT-ID (FHA|USDA|VA) 1 $215,000 $215,000 $3,170 2.75%
ROCKFORD, IL (FHA|USDA|VA) 1 $205,000 $205,000 $2,841 3.00%
HUNTINGTON-ASHLAND, WV-KY-OH (FHA|USDA|VA) 1 $195,000 $195,000 $3,346 2.25%
RICHMOND, VA (FHA|USDA|VA) 1 $195,000 $195,000 $2,482 2.13%
GRAND FORKS, ND-MN (FHA|USDA|VA) 1 $195,000 $195,000 $2,666 3.00%
HOUSTON-THE WOODLANDS-SUGAR LAND, TX (FHA|USDA|VA) 1 $185,000 $185,000 $3,181 2.50%
BOISE CITY, ID (FHA|USDA|VA) 1 $175,000 $175,000 $3,170 2.63%
PORT ST. LUCIE, FL (FHA|USDA|VA) 1 $165,000 $165,000 $4,316 2.63%
VALLEJO, CA (FHA|USDA|VA) 1 $165,000 $165,000 $2,839 3.13%
SIERRA VISTA-DOUGLAS, AZ (FHA|USDA|VA) 1 $165,000 $165,000 $2,871 3.13%
STAUNTON, VA (FHA|USDA|VA) 1 $155,000 $155,000 $3,327 2.63%
Oak Harbor, WA (FHA|USDA|VA) 1 $155,000 $155,000 $2,837 2.75%
DECATUR, AL (FHA|USDA|VA) 1 $155,000 $155,000 $2,783 2.63%
CHARLOTTESVILLE, VA (FHA|USDA|VA) 1 $145,000 $145,000 $2,761 2.63%
WINCHESTER, VA-WV (FHA|USDA|VA) 1 $135,000 $135,000 $3,094 3.13%
ST. LOUIS, MO-IL (FHA|USDA|VA) 1 $125,000 $125,000 $2,237 2.75%
Detroit-Warren-Dearborn, MI (FHA|USDA|VA) 1 $115,000 $115,000 $2,752 2.50%
Adrian, MI (FHA|USDA|VA) 1 $115,000 $115,000 $2,748 2.75%
COLUMBIA, SC (FHA|USDA|VA) 1 $105,000 $105,000 $3,161 2.50%
Easton, MD (FHA|USDA|VA) 1 $105,000 $105,000 $2,278 3.13%
YORK-HANOVER, PA (FHA|USDA|VA) 1 $105,000 $105,000 $3,225 2.50%
THE VILLAGES, FL (FHA|USDA|VA) 1 $95,000 $95,000 $2,980 2.13%
FLORENCE-MUSCLE SHOALS, AL (FHA|USDA|VA) 1 $85,000 $85,000 $3,470 3.13%
WINSTON-SALEM, NC (FHA|USDA|VA) 1 $75,000 $75,000 $1,377 2.13%

Northrop Grumman Federal Credit Union's top markets include Los Angeles, Baltimore, Riverside, Palm Bay, and San Diego among others.

Product Mix

Loan Type Originations Total Value Average Loan Average Fees Average Rate
Conventional 701 $220,175,000 $314,087 $3,672 2.81%

For the 2021 period, Northrop Grumman Federal Credit Union's most frequently originated loan type of loans were Conventional, with 701 originations.

Loan Reason

Loan Reason Originations Total Value Average Loan Average Fees Average Rate
Refi 696 $218,500,000 $313,937 $3,677 2.81%
Cash Out Refi 4 $1,140,000 $285,000 $2,731 3.16%
Home Purchase 1 $535,000 $535,000 $4,059 3.13%

For the 2021, Northrop Grumman Federal Credit Union's most frequently cited loan purpose of loans were Refi, with 696 originations. The 2nd most popular reason of loans were Cash Out Refi, with 4 originations.

Loan Duration/Length

Loan Length Originations Total Value Average Loan Average Fees Average Rate
30 Year 437 $154,475,000 $353,490 $3,907 3.00%
15 Year 179 $42,295,000 $236,285 $3,274 2.38%
20 Year 83 $22,885,000 $275,723 $3,305 2.71%
30+ year 1 $265,000 $265,000 $2,901 2.88%
Other 1 $255,000 $255,000 $3,521 2.00%

For the 2021, Northrop Grumman Federal Credit Union's most frequently cited loan length of loans were 30 Year, with 437 originations. The 2nd most popular length of loans were 15 Year, with 179 originations.

Origination Fees

Origination Fee Originations Total Value Average Loan
$<1k 379 $117,455,000 $309,908
$1k-2k 212 $59,390,000 $280,142
$2k-3k 52 $20,470,000 $393,654
$3k-4k 41 $14,805,000 $361,098
$5k+ 17 $8,055,000 $473,824

$3,907 of loans were Northrop Grumman Federal Credit Union's average total fees, while their most frequently occuring range of origination fees were in the $<1k bucket, with 379 originations.

Interest Rates

Loan Rate Originations Total Value Average Loan
2.5-3% 319 $98,395,000 $308,448
<2.5% 202 $51,630,000 $255,594
3-4% 174 $67,690,000 $389,023
4-5% 6 $2,460,000 $410,000

During 2021, Northrop Grumman Federal Credit Union's average interest rate of loans were 3.00%, while their most frequently originated rate bucket of loans were 2.5-3%, with 319 originations.

Loan Sizing

Loan Size Originations Total Value Average Loan Average Fees Average Rate
$200k-400k 356 $103,280,000 $290,112 $3,440 2.81%
$100k-200k 156 $24,320,000 $155,897 $3,210 2.62%
$400k-600k 125 $60,445,000 $483,560 $4,546 2.97%
$600k-1MM 35 $24,585,000 $702,429 $5,023 3.14%
$100,000 or less 25 $2,145,000 $85,800 $3,031 2.66%
$1MM+ 4 $5,400,000 $1,350,000 $7,572 3.19%

2021 saw Northrop Grumman Federal Credit Union place emphasis on $200k-400k loans with 356 originations, totaling $103,280,000 in origination value.

Applicant Income

Applicant Income Originations Total Value Average Loan Average Fees Average Rate
$150k-250k 207 $73,175,000 $353,502 $3,678 2.77%
$100k-150k 201 $65,695,000 $326,841 $3,913 2.86%
$75k-100k 142 $37,000,000 $260,563 $3,522 2.86%
$50k-75k 76 $16,760,000 $220,526 $3,239 2.73%
$250k+ 44 $22,590,000 $513,409 $4,152 2.77%
$50k or less 30 $4,880,000 $162,667 $3,144 2.80%

Northrop Grumman Federal Credit Union lent most frequently to those with incomes in the $150k-250k range, with 207 originations. The second most popular income band? $100k-150k, with 201 originations.

Applicant Debt to Income Ratio

DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
20-30% 226 $69,090,000 $305,708 $3,508 2.77%
30-36% 124 $40,200,000 $324,194 $3,803 2.85%
<20% 118 $27,660,000 $234,407 $3,149 2.60%
39% 28 $9,900,000 $353,571 $3,691 2.83%
44% 22 $8,260,000 $375,455 $4,335 2.94%
43% 22 $8,620,000 $391,818 $4,052 3.10%
38% 21 $5,875,000 $279,762 $3,794 3.00%
42% 19 $5,535,000 $291,316 $3,667 2.90%
47% 19 $6,155,000 $323,947 $3,415 2.84%
36% 18 $6,720,000 $373,333 $4,093 2.98%
37% 17 $5,155,000 $303,235 $4,255 2.84%
48% 14 $5,480,000 $391,429 $3,371 3.10%
41% 13 $4,415,000 $339,615 $4,104 2.87%
40% 12 $4,850,000 $404,167 $4,773 2.90%
49% 11 $3,665,000 $333,182 $4,595 2.75%
46% 9 $3,995,000 $443,889 $3,518 2.82%
45% 6 $3,350,000 $558,333 $7,160 3.04%
50-60% 2 $1,250,000 $625,000 $5,163 3.19%

Northrop Grumman Federal Credit Union lent most frequently to those with DTI ratios of 20-30%, with 226 originations. The next most common DTI ratio? 30-36%, with 124 originations.

Ethnicity Mix

Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
White 382 $115,280,000 $301,780 $3,575 2.79%
Not provided 215 $68,065,000 $316,581 $3,843 2.81%
Black 57 $20,815,000 $365,175 $3,859 2.94%
Asian 28 $10,030,000 $358,214 $3,519 2.86%
American Indian 14 $4,370,000 $312,143 $3,067 2.80%
Other Asian 3 $1,325,000 $441,667 $3,708 2.75%
Other Pacific Islander 2 $290,000 $145,000 $4,902 2.94%

Approval Rates

Total approvals of all applications
93.59%

Northrop Grumman Federal Credit Union has an average approval rate.

Pick Rate

Approvals leading to origination
57.75%

Northrop Grumman Federal 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 701 $220,175,000 $314,087

Occupancy Type Mix

Dwelling Type Originations Total Value Average Loan
701 $220,175,000 $314,087

LTV Distribution

Loan to Value Originations Total Value Average Loan Average Fees Average Rate
20-40% 109 $25,415,000 $233,165 $3,210 2.60%
40-60% 218 $66,940,000 $307,064 $3,429 2.71%
60-80% 266 $88,850,000 $334,023 $3,823 2.92%
80-100% 84 $35,250,000 $419,643 $4,614 3.07%
Under 20% 24 $3,720,000 $155,000 $3,015 2.45%

Complaints

Bank Name Product Issue 2021 CPFB Complaints % of Total Issues
Northern Trust Company, The Conventional home mortgage Trouble during payment process 1 100.0%