Abco Federal Credit Union Mortgage Rates, Fees & Info
Willingboro, NJLEI: 549300CGVVMPTCK0QG77
Tax ID: 21-0744759
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Mortgage Data
Review & Overview
Abco Federal Credit Union is a smaller credit union specializing in Other loans. Abco Federal Credit Union has a high proportion of conventional loans. Their top markets by origination volume include: Philadelphia, Atlantic City, Trenton, and Lakeland among others. We have data for 5 markets. (Some data included below & more in-depth data is available with an active subscription.)Abco Federal Credit Union has a below 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 |
|---|---|---|
| Home Equity Line of Credit (HELOC) | 6.27% | 4/28/24 |
| 15 Year Conventional Refi | 5.68% | 4/28/24 |
| 15 Year Cash-out Refi | 5.68% | 4/28/24 |
| 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. | ||
Abco Federal Credit Union Mortgage Calculator
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
215Origination Dollar Volume (All Markets)
$10,845,000Top 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 |
|---|---|---|---|---|---|
| Philadelphia-Camden-Wilmington, PA-NJ-DE-MD (FHA|USDA|VA) | 157 | $7,465,000 | $47,548 | $0 | 0.00% |
| Outside of Metro Areas | 18 | $1,980,000 | $110,000 | $0 | 0.00% |
| ATLANTIC CITY-HAMMONTON, NJ (FHA|USDA|VA) | 37 | $1,305,000 | $35,270 | $0 | 0.00% |
| TRENTON-PRINCETON, NJ (FHA|USDA|VA) | 2 | $70,000 | $35,000 | $0 | 0.00% |
| LAKELAND-WINTER HAVEN, FL (FHA|USDA|VA) | 1 | $25,000 | $25,000 | $0 | 0.00% |
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 214 | $10,820,000 | $50,561 | $0 | 0.00% |
| HELOC | 1 | $25,000 | $25,000 | n/a | 0.00% |
For 2018, Abco Federal Credit Union's most frequently originated type of loan was Conventional, with 214 originations. Their 2nd most popular type was HELOC, with 1 originations.
Loan Reason
| Loan Reason | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Other | 155 | $8,855,000 | $57,129 | $0 | 0.00% |
| Home Improvement | 60 | $1,990,000 | $33,167 | $0 | 0.00% |
For 2018, Abco Federal Credit Union's most frequently cited loan purpose was Other, with 155 originations. The 2nd most popular reason was Home Improvement, with 60 originations.
Loan Duration/Length
For 2018, Abco Federal Credit Union's most frequently cited loan duration was 5 Year, with 90 originations. The 2nd most popular length was 15 Year, with 65 originations.
Loan Sizing
2018 saw Abco Federal Credit Union place emphasis on $100,000 or less loans with 194 originations, totaling $7,430,000 in origination value.
Applicant Income
Abco Federal Credit Union lent most frequently to those with incomes in the $100k-150k range, with 67 originations. The second most popular income band? $75k-100k, with 54 originations.
Applicant Debt to Income Ratio
Abco Federal Credit Union lent most frequently to those with DTI ratios of 20-30%, with 67 originations. The next most common DTI ratio? 30-36%, with 56 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications56.54%
Abco Federal Credit Union has a low approval rate. They may have poor market targeting or stringent lending standards.
Pick Rate
Approvals leading to origination99.53%
Abco 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 | 215 | $10,845,000 | $50,442 |