Northeast Family Federal Credit Union Mortgage Rates, Fees & Info

Manchester, CT

LEI: 5493009N13S1TDMHNJ11

Tax ID: 06-0655103

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
  • 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 Family Federal Credit Union is a smaller credit union specializing in Cash Out Refi 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 above average approval rate when compared to the average across all lenders. They have an above average pick rate when compared to similar 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% 11/23/24
    15 Year Conventional Refi 5.68% 11/23/24
    15 Year Cash-out Refi 5.68% 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 Family Federal 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 Family Federal 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

    52

    Origination Dollar Volume (All Markets)

    $4,310,000

    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
    HARTFORD-EAST HARTFORD-MIDDLETOWN, CT (FHA|USDA|VA) 38 $3,180,000 $83,684 $974 4.47%
    WORCESTER, MA-CT (FHA|USDA|VA) 10 $710,000 $71,000 $644 4.05%
    NORWICH-NEW LONDON, CT (FHA|USDA|VA) 4 $420,000 $105,000 $1,627 3.81%
    Northeast Family Federal Credit Union's top markets include Hartford, Worcester, and Norwich among others.

    Their top states include:
  • Connecticut (FHA|USDA|VA)

    • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 37 $3,135,000 $84,730 $941 4.21%
    HELOC 15 $1,175,000 $78,333 n/a 4.67%

    For 2019, Northeast Family Federal Credit Union's most frequently originated type of loan was Conventional, with 37 originations. Their 2nd most popular type was HELOC, with 15 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Cash Out Refi 16 $1,320,000 $82,500 $976 4.20%
    Home Improvement 14 $860,000 $61,429 $371 4.66%
    Other 10 $680,000 $68,000 $356 4.30%
    Home Purchase 6 $790,000 $131,667 $1,958 4.21%
    Refi 6 $660,000 $110,000 $1,319 4.17%

    For 2019, Northeast Family Federal Credit Union's most frequently cited loan purpose was Cash Out Refi, with 16 originations. The 2nd most popular reason was Home Improvement, with 14 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 25 $2,185,000 $87,400 $1,259 4.58%
    10 Year 9 $535,000 $59,444 $818 3.78%
    20 Year 6 $770,000 $128,333 $1,469 4.58%
    5 Year 6 $310,000 $51,667 $423 3.79%
    15 Year 5 $465,000 $93,000 $759 4.55%
    3 Year 1 $45,000 $45,000 $356 3.74%

    For 2019, Northeast Family Federal Credit Union's most frequently cited loan duration was Other, with 25 originations. The 2nd most popular length was 10 Year, with 9 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    4-5% 22 $1,990,000 $90,455
    3-4% 20 $1,820,000 $91,000
    5-6% 5 $305,000 $61,000
    6-7% 3 $145,000 $48,333
    2.5-3% 1 $25,000 $25,000

    During 2019, Northeast Family Federal Credit Union's average interest rate for loans was 0.00%, while their most frequently originated rate bucket for loans was 4-5%, with 22 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 32 $1,400,000 $43,750 $501 4.46%
    $100k-200k 19 $2,645,000 $139,211 $1,519 4.18%
    $200k-400k 1 $265,000 $265,000 $1,933 3.75%

    2019 saw Northeast Family Federal Credit Union place emphasis on $100,000 or less loans with 32 originations, totaling $1,400,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k or less 13 $1,005,000 $77,308 $774 4.44%
    $75k-100k 13 $1,045,000 $80,385 $1,128 4.62%
    $50k-75k 11 $845,000 $76,818 $1,059 4.13%
    $100k-150k 8 $730,000 $91,250 $883 4.09%
    $150k-250k 7 $685,000 $97,857 $774 4.25%

    Northeast Family Federal Credit Union lent most frequently to those with incomes in the $50k or less range, with 13 originations. The second most popular income band? $75k-100k, with 13 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    <20% 15 $1,345,000 $89,667 $816 4.22%
    20-30% 14 $1,460,000 $104,286 $1,555 4.27%
    30-36% 8 $460,000 $57,500 $764 4.03%
    37% 3 $105,000 $35,000 $379 4.42%
    >60% 2 $50,000 $25,000 $864 5.25%
    39% 2 $340,000 $170,000 $1,933 4.13%
    42% 2 $300,000 $150,000 $0 4.50%
    40% 1 $55,000 $55,000 $0 4.50%
    41% 1 $15,000 $15,000 $356 4.25%
    36% 1 $95,000 $95,000 $421 4.00%
    46% 1 $45,000 $45,000 $0 6.25%
    38% 1 $15,000 $15,000 $0 6.00%
    50-60% 1 $25,000 $25,000 $356 5.50%

    Northeast Family Federal Credit Union lent most frequently to those with DTI ratios of <20%, with 15 originations. The next most common DTI ratio? 20-30%, with 14 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 49 $4,165,000 $85,000 $980 4.28%
    Not provided 1 $65,000 $65,000 $0 6.25%
    Black 1 $55,000 $55,000 $401 5.25%
    Asian 1 $25,000 $25,000 $356 0.00%

    Approval Rates

    Total approvals of all applications
    91.38%

    Northeast Family Federal Credit Union has an average approval rate.

    Pick Rate

    Approvals leading to origination
    98.08%

    Northeast Family Federal Credit Union has an exceptionally high pick rate. They most likely have borrower friendly terms or other characteristics like being fast to close or are easy to work with.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 52 $4,310,000 $82,885

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Single Family (1-4 Units):Manufactured 1 $25,000 $25,000
    Single Family (1-4 Units):Site-Built 51 $4,285,000 $84,020

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 17 $1,285,000 $75,588 $798 4.48%
    40-60% 4 $420,000 $105,000 $977 4.06%
    60-80% 13 $1,715,000 $131,923 $1,447 4.19%
    80-100% 3 $525,000 $175,000 $1,841 4.08%
    Under 20% 15 $365,000 $24,333 $370 4.45%

    Complaints

    Bank Name Product Issue 2019 CPFB Complaints % of Total Issues
    NORTHWEST BANCSHARES INC Other type of mortgage Trouble during payment process 1 100.0%