Bronco Federal Credit Union Mortgage Rates, Fees & Info
Franklin, VALEI: 549300G5JZD1PBR8EH75
Tax ID: 54-6037776
Latest/2024 | 2023 Data | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data
Jump to:
Mortgage Data
Review & Overview
Bronco Federal Credit Union is a smaller credit union specializing in Other, Home Improvement, and Home Purchase loans. Bronco Federal Credit Union has a high proportion of conventional loans. Their top markets by origination volume include: Virginia Beach, Kill Devil Hills, Chattanooga, Roanoke, and Raleigh among others. We have data for 8 markets. (Some data included below & more in-depth data is available with an active subscription.)Bronco Federal Credit Union has an above average approval rate when compared to the average across all lenders. They have an above average pick rate when compared to similar lenders. Bronco Federal Credit Union is typically a high fee lender. (We use the term "fees" to include things like closing costs and other costs incurred by borrowers-- whether they are paid out of pocket or rolled into the loan.) They typically have about average rates.
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.
Mortgage seekers: Choose your metro area here to explore the lowest fee & rate lenders.
Mortgage professionals: We have various tools to make your lives easier. Contact us to see how we can help with your market research, analytics or advertising needs.
SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| 30 Year Conventional Purchase | 6.46% | 4/5/25 |
| 30 Year Conventional Refi | 6.67% | 4/5/25 |
| 30 Year Cash-out Refi | 6.91% | 4/5/25 |
| 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. | ||
Bronco Federal Credit Union Mortgage Calculator
Your Estimates
Estimated Loan Payment: Update the calculator values and click calculate payment!
This is not an official calculator from Bronco Federal Credit Union. It uses our SimulatedRate™
technology, basic math and reasonable assumptions to calculate mortgage payments derived from our simulations and your inputs.
The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
109Origination Dollar Volume (All Markets)
$10,095,000Awards
Bronco Federal Credit Union - 2024
Bronco Federal Credit Union is a 2024 , due to their low .
For 2024, less than of lenders were eligible for this award.
Work for Bronco Federal Credit Union?
Use this award on your own site. Either save and use the images below, or pass the provided image embed code to your development team.
Relative Rate
Bronco Federal Credit Union's average 30 year fixed mortgage rate was
6.63%.
The 2024 average 30 year fixed rate mortgage across all markets and lenders was 6.55%.
This yields a difference of 0.08%.
Relative Fees (Closing Costs)
Bronco Federal Credit Union's average total fees/closing costs for a 30 year fixed rate
mortgage were $10,906.
The average total origination fees for 30 year fixed rate mortgages across all lenders (for all loan values, including
both points & up-front fees in addition to origination fees) were $8,356.
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 |
|---|---|---|---|---|---|
| VIRGINIA BEACH-NORFOLK-NEWPORT NEWS, VA-NC (FHA|USDA|VA) | 94 | $8,040,000 | $85,532 | $2,173 | 6.87% |
| Outside of Metro Areas | 7 | $1,225,000 | $175,000 | $6,576 | 6.81% |
| Kill Devil Hills, NC (FHA|USDA|VA) | 3 | $465,000 | $155,000 | $981 | 6.98% |
| CHATTANOOGA, TN-GA (FHA|USDA|VA) | 1 | $105,000 | $105,000 | $1,575 | 6.99% |
| ROANOKE, VA (FHA|USDA|VA) | 1 | $105,000 | $105,000 | $1,766 | 6.99% |
| RALEIGH-CARY, NC (FHA|USDA|VA) | 1 | $75,000 | $75,000 | $568 | 6.99% |
| GREENVILLE, NC (FHA|USDA|VA) | 1 | $65,000 | $65,000 | $894 | 6.99% |
| RICHMOND, VA (FHA|USDA|VA) | 1 | $15,000 | $15,000 | $1,006 | 6.19% |
Similar Lenders
We use machine learning to identify the top lenders compared against Bronco Federal Credit Union based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.
Similarity Rank: 55
Similarity Rank: 280
Similarity Rank: 320
Similarity Rank: 500
Similarity Rank: 864
Similarity Rank: 1000
Similarity Rank: 1246
Similarity Rank: 1296
Similarity Rank: 1397
Similarity Rank: 1435
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 109 | $10,095,000 | $92,615 | $2,364 | 6.86% |
For 2024, Bronco Federal Credit Union's most frequently originated type of loan was Conventional, with 109 originations.
Loan Reason
For 2024, Bronco Federal Credit Union's most frequently cited loan purpose was Other, with 43 originations. The 2nd most popular reason was Home Improvement, with 35 originations.
Loan Duration/Length
For 2024, Bronco Federal Credit Union's most frequently cited loan duration was 10 Year, with 63 originations. The 2nd most popular length was 5 Year, with 28 originations.
Origination Fees/Closing Costs
| Origination Fee/Closing Cost | Originations | Total Value | Average Loan |
|---|---|---|---|
| $1k-2k | 6 | $1,010,000 | $168,333 |
| $2k-3k | 5 | $1,175,000 | $235,000 |
| $3k-4k | 2 | $660,000 | $330,000 |
| $4k-5k | 1 | $425,000 | $425,000 |
Bronco Federal Credit Union's average total fees were $10,906, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 6 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 6-7% | 95 | $8,405,000 | $88,474 |
| 7-8% | 11 | $1,285,000 | $116,818 |
| 5-6% | 2 | $340,000 | $170,000 |
| Over 8% | 1 | $65,000 | $65,000 |
During 2024, Bronco Federal Credit Union's average interest rate for loans was 6.63%, while their most frequently originated rate bucket for loans was 6-7%, with 95 originations.
Loan Sizing
2024 saw Bronco Federal Credit Union place emphasis on $100,000 or less loans with 77 originations, totaling $3,985,000 in origination value.
Applicant Income
Bronco Federal Credit Union lent most frequently to those with incomes in the $100k-150k range, with 24 originations. The second most popular income band? $150k-250k, with 23 originations.
Applicant Debt to Income Ratio
Bronco Federal Credit Union lent most frequently to those with DTI ratios of 20-30%, with 25 originations. The next most common DTI ratio? 30-36%, with 20 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications91.13%
Bronco Federal Credit Union has an average approval rate.
Pick Rate
Approvals leading to origination96.33%
Bronco 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 | 109 | $10,095,000 | $92,615 |