Bronco Federal Credit Union Mortgage Rates, Fees & Info

Franklin, VA

LEI: 549300G5JZD1PBR8EH75

Tax ID: 54-6037776

Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data

Jump to:

  • SimulatedRates™
  • Mortgage Calculator

    • Mortgage Data

  • Originations
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • Similar Lenders
  • Loan Length
  • Loan to Value Info
  • Debt-to-Income
  • Applicant Income
  • Ethnicity Info
  • Approval & Pick Rates
  • Points and Fees
  • Origination Fees (Closing Costs)

    • Review & Overview

    Bronco Federal Credit Union is a smaller credit union specializing in Cash Out Refi, Refi, and Home Purchase loans. Bronco Federal Credit Union has a high proportion of conventional loans. Their top markets by origination volume include: Virginia Beach, Richmond, Kill Devil Hills, Roanoke Rapids, and Salem among others. We have data for 6 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 6.36% 5/19/24
    30 Year Conventional Refi 5.73% 5/19/24
    30 Year Cash-out Refi 6.16% 5/19/24
    15 Year Conventional Purchase 5.59% 5/19/24
    15 Year Conventional Refi 5.80% 5/19/24
    15 Year Cash-out Refi 5.80% 5/19/24
    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.

    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

    124

    Origination Dollar Volume (All Markets)

    $14,860,000

    Awards

    Bronco Federal Credit Union 30 Year Conventional Loans gold Bronco Federal Credit Union 30 Year Conventional Loans silver
    Show all (2) awards

    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) 106 $11,380,000 $107,358 $3,448 4.32%
    Outside of Metro Areas 6 $1,180,000 $196,667 $6,555 4.29%
    RICHMOND, VA (FHA|USDA|VA) 6 $1,130,000 $188,333 $4,545 3.81%
    Kill Devil Hills, NC (FHA|USDA|VA) 3 $945,000 $315,000 $8,484 4.25%
    Roanoke Rapids, NC (FHA|USDA|VA) 2 $170,000 $85,000 $4,656 3.44%
    Salem, OH (FHA|USDA|VA) 1 $55,000 $55,000 $869 4.49%
    Bronco Federal Credit Union's top markets include Virginia Beach, Richmond, Kill Devil Hills, Roanoke Rapids, and Salem among others.

    Their top states include:
  • Virginia (FHA|USDA|VA)
  • North Carolina (FHA|USDA|VA)
  • Ohio (FHA|USDA|VA)

    • 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.

    BEACH MUNICIPAL FEDERAL CREDIT UNION
    Similarity Rank: 4
    JOHNSON MORTGAGE COMPANY, L.L.C.
    Similarity Rank: 105
    DRAGAS MORTGAGE COMPANY
    Similarity Rank: 245
    LANGLEY
    Similarity Rank: 396
    Chesapeake Bank
    Similarity Rank: 428
    ABNB Federal Credit Union
    Similarity Rank: 738
    Bronco Federal Credit Union
    Similarity Rank: 834
    NEWPORT NEWS SHIPBUILDING EMPLOYEES
    Similarity Rank: 1053
    LOCAL GOVERNMENT FEDERAL CREDIT UNION
    Similarity Rank: 1152
    STATE EMPLOYEES'
    Similarity Rank: 1536

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 124 $14,860,000 $119,839 $3,797 4.28%

    For 2022, Bronco Federal Credit Union's most frequently originated type of loan was Conventional, with 124 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Cash Out Refi 33 $4,585,000 $138,939 $4,719 4.21%
    Home Improvement 31 $1,585,000 $51,129 $994 4.25%
    Other 23 $1,195,000 $51,957 $746 4.57%
    Refi 23 $4,235,000 $184,130 $6,585 3.98%
    Home Purchase 14 $3,260,000 $232,857 $10,913 4.54%

    For 2022, Bronco Federal Credit Union's most frequently cited loan purpose was Cash Out Refi, with 33 originations. The 2nd most popular reason was Home Improvement, with 31 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    10 Year 43 $2,215,000 $51,512 $647 4.79%
    30 Year 27 $7,325,000 $271,296 $9,350 4.07%
    5 Year 27 $1,015,000 $37,593 $530 3.72%
    20 Year 15 $2,635,000 $175,667 $9,444 4.74%
    15 Year 11 $1,615,000 $146,818 $7,634 3.43%
    1 Year 1 $55,000 $55,000 $0 6.00%

    For 2022, Bronco Federal Credit Union's most frequently cited loan duration was 10 Year, with 43 originations. The 2nd most popular length was 30 Year, with 27 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $1k-2k 17 $2,555,000 $150,294
    $2k-3k 11 $2,845,000 $258,636
    $3k-4k 7 $2,495,000 $356,429
    $<1k 4 $330,000 $82,500
    $5k+ 3 $1,665,000 $555,000
    $4k-5k 1 $425,000 $425,000

    Bronco Federal Credit Union's average total fees were $9,350, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 17 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    4-5% 47 $3,815,000 $81,170
    3-4% 42 $6,350,000 $151,190
    5-6% 21 $2,525,000 $120,238
    2.5-3% 9 $1,795,000 $199,444
    6-7% 3 $145,000 $48,333
    <2.5% 2 $230,000 $115,000

    During 2022, Bronco Federal Credit Union's average interest rate for loans was 4.07%, while their most frequently originated rate bucket for loans was 4-5%, with 47 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 77 $3,655,000 $47,468 $1,054 4.44%
    $100k-200k 22 $3,060,000 $139,091 $5,717 4.08%
    $200k-400k 20 $5,650,000 $282,500 $9,781 4.09%
    $400k-600k 5 $2,495,000 $499,000 $14,285 3.55%

    2022 saw Bronco Federal Credit Union place emphasis on $100,000 or less loans with 77 originations, totaling $3,655,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 38 $4,620,000 $121,579 $3,277 4.18%
    $50k-75k 30 $2,760,000 $92,000 $2,964 4.05%
    $75k-100k 22 $2,800,000 $127,273 $4,108 4.37%
    $150k-250k 15 $2,585,000 $172,333 $5,952 4.63%
    $50k or less 13 $1,115,000 $85,769 $4,056 4.44%
    $250k+ 6 $980,000 $163,333 $5,826 4.58%

    Bronco Federal Credit Union lent most frequently to those with incomes in the $100k-150k range, with 38 originations. The second most popular income band? $50k-75k, with 30 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    <20% 28 $2,910,000 $103,929 $3,401 4.73%
    20-30% 23 $3,205,000 $139,348 $4,504 4.15%
    30-36% 21 $2,105,000 $100,238 $2,813 3.95%
    50-60% 11 $575,000 $52,273 $582 4.33%
    44% 4 $650,000 $162,500 $6,360 4.19%
    42% 3 $155,000 $51,667 $825 4.24%
    >60% 3 $305,000 $101,667 $4,478 5.08%
    37% 3 $275,000 $91,667 $3,053 3.99%
    38% 3 $335,000 $111,667 $2,785 4.16%
    40% 3 $455,000 $151,667 $6,098 3.91%
    41% 3 $635,000 $211,667 $8,007 4.58%
    45% 3 $275,000 $91,667 $3,016 4.95%
    46% 3 $625,000 $208,333 $5,482 4.74%
    47% 3 $345,000 $115,000 $4,069 3.46%
    49% 3 $115,000 $38,333 $470 3.82%
    43% 2 $410,000 $205,000 $5,609 3.75%
    36% 2 $230,000 $115,000 $5,789 4.81%
    39% 2 $700,000 $350,000 $12,082 3.38%
    48% 1 $555,000 $555,000 $14,505 3.25%

    Bronco Federal Credit Union lent most frequently to those with DTI ratios of <20%, with 28 originations. The next most common DTI ratio? 20-30%, with 23 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 110 $13,160,000 $119,636 $3,839 4.29%
    Black 14 $1,700,000 $121,429 $3,444 4.21%

    Approval Rates

    Total approvals of all applications
    91.10%

    Bronco Federal Credit Union has an average approval rate.

    Pick Rate

    Approvals leading to origination
    92.74%

    Bronco Federal Credit Union has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 124 $14,860,000 $119,839

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    124 $14,860,000 $119,839

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 27 $1,625,000 $60,185 $1,575 4.61%
    40-60% 21 $2,465,000 $117,381 $5,298 4.17%
    60-80% 36 $8,370,000 $232,500 $8,224 4.12%
    80-100% 4 $1,160,000 $290,000 $8,714 4.00%
    Under 20% 36 $1,240,000 $34,444 $594 4.30%