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 markets by origination volume include: Washington, Richmond, Virginia Beach, and Charlottesville among others. We have data for 5 markets. (Some data included below & more in-depth data is available with an active subscription.)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.
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% | 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
100Origination Dollar Volume (All Markets)
$6,360,000Top 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) | 56 | $3,670,000 | $65,536 | $76 | 5.02% |
| Outside of Metro Areas | 40 | $2,400,000 | $60,000 | $82 | 4.97% |
| RICHMOND, VA (FHA|USDA|VA) | 2 | $130,000 | $65,000 | $0 | 4.13% |
| VIRGINIA BEACH-NORFOLK-NEWPORT NEWS, VA-NC (FHA|USDA|VA) | 1 | $105,000 | $105,000 | $0 | 4.50% |
| CHARLOTTESVILLE, VA (FHA|USDA|VA) | 1 | $55,000 | $55,000 | $0 | 4.25% |
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| HELOC | 50 | $3,430,000 | $68,600 | n/a | 3.80% |
| Conventional | 50 | $2,930,000 | $58,600 | $79 | 6.14% |
For 2021, Nswc Federal Credit Union's most frequently originated type of loan was HELOC, with 50 originations. Their 2nd most popular type was Conventional, with 50 originations.
Loan Reason
| Loan Reason | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Home Improvement | 61 | $3,865,000 | $63,361 | $93 | 4.53% |
| Other | 37 | $2,395,000 | $64,730 | $66 | 5.73% |
| Refi | 2 | $100,000 | $50,000 | $31 | 4.50% |
For 2021, Nswc Federal Credit Union's most frequently cited loan purpose was Home Improvement, with 61 originations. The 2nd most popular reason was Other, with 37 originations.
Loan Duration/Length
For 2021, Nswc Federal Credit Union's most frequently cited loan duration was 20 Year, with 50 originations. The 2nd most popular length was 10 Year, with 27 originations.
Origination Fees/Closing Costs
| Origination Fee/Closing Cost | Originations | Total Value | Average Loan |
|---|---|---|---|
| $<1k | 48 | $2,790,000 | $58,125 |
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 48 originations.
Interest Rates
During 2021, 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 35 originations.
Loan Sizing
| Loan Size | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| $100,000 or less | 83 | $4,575,000 | $55,120 | $71 | 5.12% |
| $100k-200k | 17 | $1,785,000 | $105,000 | $143 | 4.22% |
2021 saw Nswc Federal Credit Union place emphasis on $100,000 or less loans with 83 originations, totaling $4,575,000 in origination value.
Applicant Income
Nswc Federal Credit Union lent most frequently to those with incomes in the $150k-250k range, with 32 originations. The second most popular income band? $100k-150k, with 26 originations.
Applicant Debt to Income Ratio
Nswc Federal Credit Union lent most frequently to those with DTI ratios of 20-30%, with 28 originations. The next most common DTI ratio? 30-36%, with 25 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications69.66%
Nswc Federal Credit Union has a low approval rate. They may have poor market targeting or stringent lending standards.
Pick Rate
Approvals leading to origination79.00%
Nswc Federal Credit Union has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 100 | $6,360,000 | $63,600 |