Garden Savings Federal Credit Union Mortgage Rates, Fees & Info

Parsippany-Troy Hills, NJ

LEI: 549300I7SKMG274G2Y20

Tax ID: 22-1866976

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

    Garden Savings Federal Credit Union is a smaller credit union specializing in Cash Out Refi and Refi loans. Garden Savings Federal Credit Union has a high proportion of conventional loans. Their top markets by origination volume include: New York, Philadelphia, Allentown, and Poughkeepsie among others. We have data for 4 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Garden Savings 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. Garden Savings Federal Credit Union is typically a low 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.

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    SimulatedRates™

    Mortgage Type     		Simulated Rate Simulation Date
    30 Year Conventional Purchase 6.05% 12/16/24
    30 Year Conventional Refi 6.37% 12/16/24
    30 Year Cash-out Refi 6.15% 12/16/24
    15 Year Conventional Refi 6.85% 12/16/24
    15 Year Cash-out Refi 6.85% 12/16/24
    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.

    Garden Savings 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 Garden Savings 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

    144

    Origination Dollar Volume (All Markets)

    $30,300,000

    Awards

    GARDEN SAVINGS FEDERAL CREDIT UNION 30 Year Conventional Loans gold GARDEN SAVINGS FEDERAL CREDIT UNION 30 Year Conventional Loans gold
    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
    New York-Newark-Jersey City, NY-NJ-PA (FHA|USDA|VA) 131 $28,235,000 $215,534 $613 3.45%
    Philadelphia-Camden-Wilmington, PA-NJ-DE-MD (FHA|USDA|VA) 7 $1,255,000 $179,286 $746 3.25%
    ALLENTOWN-BETHLEHEM-EASTON, PA-NJ (FHA|USDA|VA) 5 $745,000 $149,000 $831 3.15%
    POUGHKEEPSIE-NEWBURGH-MIDDLETOWN, NY (FHA|USDA|VA) 1 $65,000 $65,000 $0 4.00%
    Garden Savings Federal Credit Union's top markets include New York, Philadelphia, Allentown, and Poughkeepsie among others.

    Their top states include:
  • New Jersey (FHA|USDA|VA)
  • New York (FHA|USDA|VA)
  • Pennsylvania (FHA|USDA|VA)

    • Similar Lenders

    We use machine learning to identify the top lenders compared against GARDEN SAVINGS FEDERAL CREDIT UNION based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.

    N C P D Federal Credit Union
    Similarity Rank: 102
    Schuyler Savings Bank
    Similarity Rank: 352
    ATLANTIS MORTGAGE CO., INC.
    Similarity Rank: 652
    The First National Bank of Long Island
    Similarity Rank: 748
    The Atlantic Federal Credit Union
    Similarity Rank: 882
    GARDEN SAVINGS FEDERAL CREDIT UNION
    Similarity Rank: 1064
    U S WIDE FINANCIAL LLC
    Similarity Rank: 1092
    Columbia Bank
    Similarity Rank: 1183
    Poli Mortgage Group, Inc.
    Similarity Rank: 1369
    Hanover Community Bank
    Similarity Rank: 1430

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 144 $30,300,000 $210,417 $623 3.43%

    For 2021, Garden Savings Federal Credit Union's most frequently originated type of loan was Conventional, with 144 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Cash Out Refi 65 $16,905,000 $260,077 $558 3.43%
    Refi 38 $7,930,000 $208,684 $443 3.26%
    Home Improvement 25 $1,625,000 $65,000 $10 3.85%
    Home Purchase 10 $3,040,000 $304,000 $3,541 3.05%
    Other 6 $800,000 $133,333 $148 3.48%

    For 2021, Garden Savings Federal Credit Union's most frequently cited loan purpose was Cash Out Refi, with 65 originations. The 2nd most popular reason was Refi, with 38 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 63 $19,675,000 $312,302 $1,137 3.16%
    15 Year 32 $3,990,000 $124,688 $167 3.65%
    20 Year 30 $5,260,000 $175,333 $300 4.01%
    10 Year 14 $1,160,000 $82,857 $263 3.08%
    5 Year 5 $215,000 $43,000 $0 3.00%

    For 2021, Garden Savings Federal Credit Union's most frequently cited loan duration was 30 Year, with 63 originations. The 2nd most popular length was 15 Year, with 32 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 144 $30,300,000 $210,417

    Garden Savings Federal Credit Union's average total fees were $1,137, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 144 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    3-4% 87 $18,985,000 $218,218
    2.5-3% 37 $9,485,000 $256,351
    5-6% 10 $1,310,000 $131,000
    4-5% 8 $380,000 $47,500
    <2.5% 2 $140,000 $70,000

    During 2021, Garden Savings Federal Credit Union's average interest rate for loans was 3.16%, while their most frequently originated rate bucket for loans was 3-4%, with 87 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 52 $14,820,000 $285,000 $742 3.21%
    $100,000 or less 43 $2,315,000 $53,837 $127 3.70%
    $100k-200k 33 $5,085,000 $154,091 $503 3.61%
    $400k-600k 13 $5,915,000 $455,000 $1,451 3.10%
    $600k-1MM 3 $2,165,000 $721,667 $3,388 2.92%

    2021 saw Garden Savings Federal Credit Union place emphasis on $200k-400k loans with 52 originations, totaling $14,820,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 40 $7,550,000 $188,750 $584 3.43%
    $150k-250k 37 $9,175,000 $247,973 $560 3.63%
    $75k-100k 29 $4,955,000 $170,862 $406 3.32%
    $50k-75k 17 $3,145,000 $185,000 $937 3.24%
    $250k+ 15 $5,025,000 $335,000 $968 3.54%
    $50k or less 5 $345,000 $69,000 $619 3.23%

    Garden Savings Federal Credit Union lent most frequently to those with incomes in the $100k-150k range, with 40 originations. The second most popular income band? $150k-250k, with 37 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 30 $5,650,000 $188,333 $791 3.36%
    30-36% 28 $4,960,000 $177,143 $494 3.64%
    <20% 14 $3,830,000 $273,571 $868 3.23%
    42% 8 $2,170,000 $271,250 $564 3.19%
    37% 7 $1,015,000 $145,000 $226 3.05%
    40% 7 $1,225,000 $175,000 $456 4.36%
    38% 6 $2,310,000 $385,000 $1,512 3.73%
    36% 6 $1,290,000 $215,000 $296 3.58%
    46% 5 $815,000 $163,000 $511 3.50%
    41% 5 $1,105,000 $221,000 $355 3.28%
    44% 4 $710,000 $177,500 $222 3.38%
    39% 4 $520,000 $130,000 $812 3.69%
    48% 4 $1,030,000 $257,500 $333 3.25%
    49% 4 $890,000 $222,500 $333 3.16%
    50-60% 4 $880,000 $220,000 $222 3.28%
    45% 3 $535,000 $178,333 $296 3.04%
    >60% 2 $740,000 $370,000 $2,009 3.00%
    43% 2 $580,000 $290,000 $1,446 3.06%
    47% 1 $45,000 $45,000 $0 3.25%

    Garden Savings Federal Credit Union lent most frequently to those with DTI ratios of 20-30%, with 30 originations. The next most common DTI ratio? 30-36%, with 28 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 83 $16,795,000 $202,349 $697 3.47%
    Not provided 35 $8,215,000 $234,714 $620 3.36%
    Black 15 $3,265,000 $217,667 $326 3.35%
    Asian 10 $1,690,000 $169,000 $478 3.55%
    Asian Indian 1 $335,000 $335,000 $444 3.13%

    Approval Rates

    Total approvals of all applications
    83.98%

    Garden Savings Federal Credit Union has a below average approval rate.

    Pick Rate

    Approvals leading to origination
    75.00%

    Garden Savings Federal Credit Union has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 144 $30,300,000 $210,417

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    144 $30,300,000 $210,417

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 27 $4,685,000 $173,519 $384 3.73%
    40-60% 23 $5,475,000 $238,043 $691 3.23%
    60-80% 41 $13,315,000 $324,756 $1,000 3.17%
    80-100% 11 $4,205,000 $382,273 $1,846 3.06%
    Under 20% 42 $2,620,000 $62,381 $50 3.71%