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 Home Improvement and Cash Out Refi loans. Connex Credit Union has a high proportion of conventional loans. Their top markets by origination volume include: New Haven, Hartford, Bridgeport, Torrington, and Norwich 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 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

    259

    Origination Dollar Volume (All Markets)

    $17,245,000

    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) 204 $13,220,000 $64,804 $0 0.00%
    HARTFORD-EAST HARTFORD-MIDDLETOWN, CT (FHA|USDA|VA) 34 $2,430,000 $71,471 $0 0.00%
    BRIDGEPORT-STAMFORD-NORWALK, CT (FHA|USDA|VA) 17 $1,365,000 $80,294 $0 0.00%
    Torrington, CT (FHA|USDA|VA) 3 $125,000 $41,667 $0 0.00%
    NORWICH-NEW LONDON, CT (FHA|USDA|VA) 1 $105,000 $105,000 $0 0.00%
    Connex Credit Union's top markets include New Haven, Hartford, Bridgeport, Torrington, 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 259 $17,245,000 $66,583 $0 0.00%

    For 2022, Connex Credit Union's most frequently originated type of loan was Conventional, with 259 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Improvement 152 $8,920,000 $58,684 $0 0.00%
    Other 53 $2,715,000 $51,226 $0 0.00%
    Cash Out Refi 47 $4,425,000 $94,149 $0 0.00%
    Refi 4 $500,000 $125,000 $0 0.00%
    Home Purchase 3 $685,000 $228,333 $0 0.00%

    For 2022, Connex Credit Union's most frequently cited loan purpose was Home Improvement, with 152 originations. The 2nd most popular reason was Other, with 53 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 259 $17,245,000 $66,583 $0 0.00%

    For 2022, Connex Credit Union's most frequently cited loan duration was Other, with 259 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 205 $9,755,000 $47,585 $0 0.00%
    $100k-200k 45 $5,495,000 $122,111 $0 0.00%
    $200k-400k 9 $1,995,000 $221,667 $0 0.00%

    2022 saw Connex Credit Union place emphasis on $100,000 or less loans with 205 originations, totaling $9,755,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 82 $4,770,000 $58,171 $0 0.00%
    $150k-250k 70 $5,800,000 $82,857 $0 0.00%
    $50k-75k 45 $2,885,000 $64,111 $0 0.00%
    $75k-100k 42 $2,360,000 $56,190 $0 0.00%
    $250k+ 11 $985,000 $89,545 $0 0.00%
    $50k or less 9 $445,000 $49,444 $0 0.00%

    Connex Credit Union lent most frequently to those with incomes in the $100k-150k range, with 82 originations. The second most popular income band? $150k-250k, with 70 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 259 $17,245,000 $66,583 $0 0.00%

    Connex Credit Union lent most frequently to those with DTI ratios of Exempt%, with 259 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 201 $12,655,000 $62,960 $0 0.00%
    Black 23 $2,095,000 $91,087 $0 0.00%
    Not provided 23 $1,655,000 $71,957 $0 0.00%
    Asian 7 $605,000 $86,429 $0 0.00%
    American Indian 2 $130,000 $65,000 $0 0.00%
    Other Pacific Islander 3 $105,000 $35,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    81.78%

    Connex Credit Union has a below average approval rate.

    Pick Rate

    Approvals leading to origination
    83.78%

    Connex Credit Union has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 259 $17,245,000 $66,583

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    259 $17,245,000 $66,583