Northeast Family Federal Credit Union Mortgage Rates, Fees & Info
Manchester, CTLEI: 5493009N13S1TDMHNJ11
Tax ID: 06-0655103
Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data
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Mortgage Data
Review & Overview
Northeast Family Federal Credit Union is a smaller credit union specializing in Other, Home Improvement, and Home Purchase loans. Northeast Family Federal Credit Union has a high proportion of conventional loans. Their top markets by origination volume include: Hartford, Worcester, and Norwich among others. We have data for 3 markets. (Some data included below & more in-depth data is available with an active subscription.)Northeast Family Federal Credit Union has an average approval rate when compared to the average across all lenders.
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.
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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| 15 Year Conventional Purchase | 5.68% | 4/22/24 |
| 15 Year Conventional Refi | 5.68% | 4/22/24 |
| 15 Year Cash-out Refi | 5.68% | 4/22/24 |
| 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 Family Federal Credit Union Mortgage Calculator
Your Estimates
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
61Origination Dollar Volume (All Markets)
$4,685,000Top 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 |
|---|---|---|---|---|---|
| HARTFORD-EAST HARTFORD-MIDDLETOWN, CT (FHA|USDA|VA) | 42 | $3,440,000 | $81,905 | $3,210 | 6.79% |
| WORCESTER, MA-CT (FHA|USDA|VA) | 17 | $1,035,000 | $60,882 | $2,141 | 7.37% |
| NORWICH-NEW LONDON, CT (FHA|USDA|VA) | 2 | $210,000 | $105,000 | $0 | 7.37% |
Their top states include:
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 34 | $2,650,000 | $77,941 | $2,676 | 6.60% |
| HELOC | 27 | $2,035,000 | $75,370 | n/a | 7.43% |
For 2023, Northeast Family Federal Credit Union's most frequently originated type of loan was Conventional, with 34 originations. Their 2nd most popular type was HELOC, with 27 originations.
Loan Reason
For 2023, Northeast Family Federal Credit Union's most frequently cited loan purpose was Other, with 34 originations. The 2nd most popular reason was Home Improvement, with 20 originations.
Loan Duration/Length
For 2023, Northeast Family Federal Credit Union's most frequently cited loan duration was Other, with 37 originations. The 2nd most popular length was 15 Year, with 9 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 7-8% | 25 | $1,975,000 | $79,000 |
| 6-7% | 21 | $2,165,000 | $103,095 |
| 5-6% | 10 | $360,000 | $36,000 |
| Over 8% | 4 | $160,000 | $40,000 |
| 4-5% | 1 | $25,000 | $25,000 |
During 2023, Northeast Family Federal Credit Union's average interest rate for loans was 0.00%, while their most frequently originated rate bucket for loans was 7-8%, with 25 originations.
Loan Sizing
2023 saw Northeast Family Federal Credit Union place emphasis on $100,000 or less loans with 44 originations, totaling $2,000,000 in origination value.
Applicant Income
Northeast Family Federal Credit Union lent most frequently to those with incomes in the $100k-150k range, with 18 originations. The second most popular income band? $50k-75k, with 16 originations.
Applicant Debt to Income Ratio
Northeast Family Federal Credit Union lent most frequently to those with DTI ratios of 20-30%, with 21 originations. The next most common DTI ratio? 30-36%, with 9 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications89.86%
Northeast Family Federal Credit Union has an average approval rate.
Pick Rate
Approvals leading to originationPoints and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 61 | $4,685,000 | $76,803 |