Nswc Federal Credit Union Mortgage Rates, Fees & Info
Dahlgren, VALEI: 549300CWXIPLEXBPNY95
Tax ID: 54-6042665
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Mortgage Data
Review & Overview
Nswc Federal Credit Union is a smaller credit union specializing in Other and Home Improvement loans. Nswc Federal Credit Union has a high proportion of conventional loans. Their top markets by origination volume include: Washington, Richmond, and Harrisonburg among others. We have data for 4 markets. (Some data included below & more in-depth data is available with an active subscription.)Nswc Federal 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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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| Home Equity Line of Credit (HELOC) | 7.12% | 4/21/24 |
| 30 Year Conventional Refi | 6.27% | 4/21/24 |
| 15 Year Conventional Refi | 6.56% | 4/21/24 |
| 15 Year Cash-out Refi | 6.56% | 4/21/24 |
| 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. | ||
Nswc Federal Credit Union Mortgage Calculator
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Originations
119Origination Dollar Volume (All Markets)
$10,685,000Top 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 |
|---|---|---|---|---|---|
| Washington-Arlington-Alexandria, DC-VA-MD-WV (FHA|USDA|VA) | 67 | $5,855,000 | $87,388 | $136 | 7.77% |
| Outside of Metro Areas | 49 | $4,615,000 | $94,184 | $130 | 7.85% |
| RICHMOND, VA (FHA|USDA|VA) | 2 | $170,000 | $85,000 | $87 | 6.63% |
| HARRISONBURG, VA (FHA|USDA|VA) | 1 | $45,000 | $45,000 | $0 | 7.50% |
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 98 | $8,880,000 | $90,612 | $133 | 7.65% |
| HELOC | 21 | $1,805,000 | $85,952 | n/a | 8.42% |
For 2023, Nswc Federal Credit Union's most frequently originated type of loan was Conventional, with 98 originations. Their 2nd most popular type was HELOC, with 21 originations.
Loan Reason
| Loan Reason | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Other | 61 | $5,845,000 | $95,820 | $154 | 8.04% |
| Home Improvement | 57 | $4,795,000 | $84,123 | $106 | 7.53% |
| Refi | 1 | $45,000 | $45,000 | $2 | 6.75% |
For 2023, Nswc Federal Credit Union's most frequently cited loan purpose was Other, with 61 originations. The 2nd most popular reason was Home Improvement, with 57 originations.
Loan Duration/Length
For 2023, Nswc Federal Credit Union's most frequently cited loan duration was 15 Year, with 58 originations. The 2nd most popular length was 10 Year, with 36 originations.
Origination Fees/Closing Costs
| Origination Fee/Closing Cost | Originations | Total Value | Average Loan |
|---|---|---|---|
| $<1k | 97 | $8,835,000 | $91,082 |
Nswc Federal 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 97 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 7-8% | 42 | $3,840,000 | $91,429 |
| 6-7% | 38 | $3,170,000 | $83,421 |
| Over 8% | 37 | $3,435,000 | $92,838 |
| 5-6% | 2 | $240,000 | $120,000 |
During 2023, Nswc 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 42 originations.
Loan Sizing
2023 saw Nswc Federal Credit Union place emphasis on $100,000 or less loans with 75 originations, totaling $4,295,000 in origination value.
Applicant Income
Nswc Federal Credit Union lent most frequently to those with incomes in the $150k-250k range, with 46 originations. The second most popular income band? $100k-150k, with 36 originations.
Applicant Debt to Income Ratio
Nswc Federal Credit Union lent most frequently to those with DTI ratios of 20-30%, with 39 originations. The next most common DTI ratio? 30-36%, with 25 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications72.60%
Nswc Federal Credit Union has a below average approval rate.
Pick Rate
Approvals leading to origination78.99%
Nswc Federal Credit Union has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 119 | $10,685,000 | $89,790 |