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 Home Improvement and Other loans. Nswc Federal Credit Union has a high proportion of conventional loans. Their top two markets are Washington and Winchester .Nswc Federal Credit Union has a below average approval rate when compared to the average across all lenders. They have a below average pick rate when compared to similar lenders.
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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| Home Equity Line of Credit (HELOC) | 7.12% | 5/4/24 |
| 30 Year Conventional Refi | 6.27% | 5/4/24 |
| 15 Year Conventional Refi | 6.56% | 5/4/24 |
| 15 Year Cash-out Refi | 6.56% | 5/4/24 |
| 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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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
72Origination Dollar Volume (All Markets)
$4,100,000Top 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 |
|---|---|---|---|---|---|
| Outside of Metro Areas | 35 | $2,065,000 | $59,000 | $32 | 5.29% |
| Washington-Arlington-Alexandria, DC-VA-MD-WV (FHA|USDA|VA) | 36 | $2,010,000 | $55,833 | $43 | 5.04% |
| WINCHESTER, VA-WV (FHA|USDA|VA) | 1 | $25,000 | $25,000 | $0 | 5.75% |
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 37 | $1,995,000 | $53,919 | $37 | 6.14% |
| HELOC | 35 | $2,105,000 | $60,143 | n/a | 4.14% |
For 2020, Nswc Federal Credit Union's most frequently originated type of loan was Conventional, with 37 originations. Their 2nd most popular type was HELOC, with 35 originations.
Loan Reason
| Loan Reason | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Home Improvement | 48 | $2,490,000 | $51,875 | $28 | 5.01% |
| Other | 22 | $1,430,000 | $65,000 | $49 | 5.52% |
| Refi | 2 | $180,000 | $90,000 | $18 | 5.13% |
For 2020, Nswc Federal Credit Union's most frequently cited loan purpose was Home Improvement, with 48 originations. The 2nd most popular reason was Other, with 22 originations.
Loan Duration/Length
For 2020, Nswc Federal Credit Union's most frequently cited loan duration was 20 Year, with 35 originations. The 2nd most popular length was 10 Year, with 16 originations.
Origination Fees/Closing Costs
| Origination Fee/Closing Cost | Originations | Total Value | Average Loan |
|---|---|---|---|
| $<1k | 37 | $1,995,000 | $53,919 |
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 37 originations.
Interest Rates
During 2020, Nswc 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 33 originations.
Loan Sizing
| Loan Size | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| $100,000 or less | 67 | $3,575,000 | $53,358 | $37 | 5.26% |
| $100k-200k | 5 | $525,000 | $105,000 | $18 | 3.90% |
2020 saw Nswc Federal Credit Union place emphasis on $100,000 or less loans with 67 originations, totaling $3,575,000 in origination value.
Applicant Income
Nswc Federal Credit Union lent most frequently to those with incomes in the $100k-150k range, with 33 originations. The second most popular income band? $150k-250k, with 16 originations.
Applicant Debt to Income Ratio
Nswc Federal Credit Union lent most frequently to those with DTI ratios of 20-30%, with 19 originations. The next most common DTI ratio? <20%, with 15 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications67.65%
Nswc Federal Credit Union has a low approval rate. They may have poor market targeting or stringent lending standards.
Pick Rate
Approvals leading to origination80.56%
Nswc Federal Credit Union has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 72 | $4,100,000 | $56,944 |