Connex Credit Union Mortgage Rates, Fees & Info

North Haven, CT

LEI: 549300CA0J0Z7OFQBG71

Tax ID: 06-0655052

Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data

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Mortgage Data

  • Originations
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • 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

    Connex Credit Union is a smaller credit union specializing in Cash Out Refi and Other loans. Connex Credit Union has a high proportion of conventional loans. Their top markets by origination volume include: New Haven, Hartford, Bridgeport, Norwich, and Torrington among others. We have data for 5 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Connex Credit Union has an above average approval rate when compared to the average across all lenders. They have a below 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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    Originations

    95

    Origination Dollar Volume (All Markets)

    $7,355,000

    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
    NEW HAVEN-MILFORD, CT (FHA|USDA|VA) 69 $5,155,000 $74,710 $6 4.39%
    HARTFORD-EAST HARTFORD-MIDDLETOWN, CT (FHA|USDA|VA) 14 $1,300,000 $92,857 $0 4.11%
    BRIDGEPORT-STAMFORD-NORWALK, CT (FHA|USDA|VA) 9 $485,000 $53,889 $0 3.99%
    NORWICH-NEW LONDON, CT (FHA|USDA|VA) 1 $225,000 $225,000 $0 4.11%
    Torrington, CT (FHA|USDA|VA) 2 $190,000 $95,000 $0 5.24%
    Connex Credit Union's top markets include New Haven, Hartford, Bridgeport, Norwich, and Torrington among others.

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

    • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 95 $7,355,000 $77,421 $4 4.33%

    For 2020, Connex Credit Union's most frequently originated type of loan was Conventional, with 95 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Cash Out Refi 32 $3,670,000 $114,688 $0 3.84%
    Other 29 $1,615,000 $55,690 $14 4.82%
    Home Improvement 25 $1,165,000 $46,600 $0 4.44%
    Refi 8 $680,000 $85,000 $0 4.16%
    Home Purchase 1 $225,000 $225,000 $0 4.11%

    For 2020, Connex Credit Union's most frequently cited loan purpose was Cash Out Refi, with 32 originations. The 2nd most popular reason was Other, with 29 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    10 Year 40 $2,620,000 $65,500 $10 4.14%
    15 Year 19 $1,905,000 $100,263 $0 4.31%
    20 Year 17 $2,025,000 $119,118 $0 4.77%
    5 Year 13 $515,000 $39,615 $0 4.22%
    Other 6 $290,000 $48,333 $0 4.62%

    For 2020, Connex Credit Union's most frequently cited loan duration was 10 Year, with 40 originations. The 2nd most popular length was 15 Year, with 19 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 95 $7,355,000 $77,421

    Connex Credit Union's average total fees were $0, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 95 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    3-4% 54 $4,370,000 $80,926
    4-5% 20 $1,810,000 $90,500
    5-6% 17 $895,000 $52,647
    6-7% 3 $155,000 $51,667
    2.5-3% 1 $125,000 $125,000

    During 2020, Connex Credit Union's average interest rate for loans was 0.00%, while their most frequently originated rate bucket for loans was 3-4%, with 54 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 66 $3,090,000 $46,818 $6 4.51%
    $100k-200k 24 $3,020,000 $125,833 $0 3.94%
    $200k-400k 5 $1,245,000 $249,000 $0 3.75%

    2020 saw Connex Credit Union place emphasis on $100,000 or less loans with 66 originations, totaling $3,090,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 31 $2,445,000 $78,871 $0 4.63%
    $150k-250k 22 $2,050,000 $93,182 $0 4.19%
    $75k-100k 16 $760,000 $47,500 $0 4.34%
    $50k-75k 14 $1,190,000 $85,000 $0 4.16%
    $50k or less 7 $505,000 $72,143 $0 4.01%
    $250k+ 5 $405,000 $81,000 $83 3.89%

    Connex Credit Union lent most frequently to those with incomes in the $100k-150k range, with 31 originations. The second most popular income band? $150k-250k, with 22 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 31 $2,635,000 $85,000 $0 4.29%
    30-36% 25 $1,665,000 $66,600 $17 4.51%
    <20% 10 $450,000 $45,000 $0 4.07%
    41% 6 $690,000 $115,000 $0 4.13%
    37% 4 $250,000 $62,500 $0 3.99%
    36% 4 $330,000 $82,500 $0 4.62%
    38% 3 $295,000 $98,333 $0 4.05%
    42% 3 $265,000 $88,333 $0 4.66%
    >60% 2 $160,000 $80,000 $0 4.37%
    39% 2 $60,000 $30,000 $0 5.49%
    40% 2 $150,000 $75,000 $0 4.12%
    45% 1 $105,000 $105,000 $0 3.49%
    49% 1 $35,000 $35,000 $0 4.74%
    43% 1 $265,000 $265,000 $0 3.24%

    Connex Credit Union lent most frequently to those with DTI ratios of 20-30%, with 31 originations. The next most common DTI ratio? 30-36%, with 25 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 64 $5,090,000 $79,531 $6 4.38%
    Not provided 21 $1,795,000 $85,476 $0 3.99%
    Black 8 $410,000 $51,250 $0 4.68%
    Asian 1 $35,000 $35,000 $0 5.49%
    Asian Indian 1 $25,000 $25,000 $0 3.99%

    Approval Rates

    Total approvals of all applications
    91.44%

    Connex Credit Union has an average approval rate.

    Pick Rate

    Approvals leading to origination
    72.63%

    Connex Credit Union has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 95 $7,355,000 $77,421

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Single Family (1-4 Units):Site-Built 95 $7,355,000 $77,421

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 37 $2,745,000 $74,189 $11 4.66%
    40-60% 8 $970,000 $121,250 $0 3.78%
    60-80% 11 $1,795,000 $163,182 $0 3.84%
    80-100% 3 $575,000 $191,667 $0 3.72%
    Under 20% 36 $1,270,000 $35,278 $0 4.30%