Chartway Federal Credit Union Mortgage Rates, Fees & Info
Virginia Beach, VALEI: 549300NWKILSNQAIG053
Tax ID: 54-0674620
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Mortgage Data
Review & Overview
Chartway Federal Credit Union is a smaller credit union specializing in Home Improvement, Other, Refi, and Home Purchase loans. Chartway Federal Credit Union has a high proportion of conventional loans. Their top markets by origination volume include: Virginia Beach, St. George, Salt Lake City, Houston, and Cedar City among others. We have data for 49 markets. (Some data included below & more in-depth data is available with an active subscription.)Chartway 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. Chartway Federal Credit Union is typically an average 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.
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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| Home Equity Line of Credit (HELOC) | 6.27% | 5/4/24 |
| 30 Year Conventional Purchase | 6.51% | 5/4/24 |
| 30 Year Conventional Refi | 6.58% | 5/4/24 |
| 30 Year Cash-out Refi | 6.50% | 5/4/24 |
| 30 Year FHA Purchase | 6.27% | 5/4/24 |
| 30 Year FHA Refi | 6.27% | 5/4/24 |
| 30 Year VA Purchase | 6.27% | 5/4/24 |
| 30 Year VA Refi | 6.27% | 5/4/24 |
| 30 Year USDA Purchase | 6.27% | 5/4/24 |
| 15 Year Conventional Purchase | 5.65% | 5/4/24 |
| 15 Year Conventional Refi | 6.98% | 5/4/24 |
| 15 Year Cash-out Refi | 6.98% | 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. | ||
Chartway Federal Credit Union Mortgage Calculator
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This is not an official calculator from Chartway 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
1,027Origination Dollar Volume (All Markets)
$116,335,000Awards
CHARTWAY FEDERAL CREDIT UNION - 2022
CHARTWAY FEDERAL CREDIT UNION is a 2022 , due to their low .
For 2022, less than of lenders were eligible for this award.
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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) | 499 | $45,985,000 | $92,154 | $1,148 | 4.00% |
| ST. GEORGE, UT (FHA|USDA|VA) | 175 | $23,405,000 | $133,743 | $1,450 | 3.64% |
| SALT LAKE CITY, UT (FHA|USDA|VA) | 150 | $19,110,000 | $127,400 | $1,804 | 4.06% |
| HOUSTON-THE WOODLANDS-SUGAR LAND, TX (FHA|USDA|VA) | 41 | $5,065,000 | $123,537 | $2,232 | 4.74% |
| Cedar City, UT (FHA|USDA|VA) | 31 | $3,655,000 | $117,903 | $2,687 | 3.66% |
| Outside of Metro Areas | 20 | $2,670,000 | $133,500 | $2,739 | 4.01% |
| PROVO-OREM, UT (FHA|USDA|VA) | 13 | $1,825,000 | $140,385 | $1,907 | 3.98% |
| OGDEN-CLEARFIELD, UT (FHA|USDA|VA) | 8 | $1,550,000 | $193,750 | $1,851 | 2.71% |
| DURHAM-CHAPEL HILL, NC (FHA|USDA|VA) | 2 | $1,200,000 | $600,000 | $37,385 | 2.82% |
| RICHMOND, VA (FHA|USDA|VA) | 10 | $1,080,000 | $108,000 | $2,202 | 3.64% |
| TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) | 8 | $1,000,000 | $125,000 | $1,808 | 5.28% |
| Seattle-Tacoma-Bellevue, WA (FHA|USDA|VA) | 1 | $975,000 | $975,000 | $5,137 | 4.75% |
| SAN ANTONIO-NEW BRAUNFELS, TX (FHA|USDA|VA) | 1 | $805,000 | $805,000 | $7,797 | 4.00% |
| CHARLOTTE-CONCORD-GASTONIA, NC-SC (FHA|USDA|VA) | 5 | $775,000 | $155,000 | $2,751 | 4.64% |
| Washington-Arlington-Alexandria, DC-VA-MD-WV (FHA|USDA|VA) | 5 | $715,000 | $143,000 | $0 | 2.78% |
| Elizabeth City, NC (FHA|USDA|VA) | 6 | $710,000 | $118,333 | $5,094 | 3.56% |
| RALEIGH-CARY, NC (FHA|USDA|VA) | 5 | $625,000 | $125,000 | $2,007 | 5.45% |
| ATLANTA-SANDY SPRINGS-ALPHARETTA, GA (FHA|USDA|VA) | 8 | $510,000 | $63,750 | $193 | 5.81% |
| GREELEY, CO (FHA|USDA|VA) | 1 | $435,000 | $435,000 | $2,938 | 4.13% |
| HILTON HEAD ISLAND-BLUFFTON, SC (FHA|USDA|VA) | 1 | $415,000 | $415,000 | $6,509 | 4.13% |
| RIVERSIDE-SAN BERNARDINO-ONTARIO, CA (FHA|USDA|VA) | 1 | $405,000 | $405,000 | $0 | 1.89% |
| North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) | 2 | $390,000 | $195,000 | $0 | 3.01% |
| LOGAN, UT-ID (FHA|USDA|VA) | 2 | $390,000 | $195,000 | $0 | 5.52% |
| LAS VEGAS-HENDERSON-PARADISE, NV (FHA|USDA|VA) | 4 | $290,000 | $72,500 | $0 | 4.02% |
| OKLAHOMA CITY, OK (FHA|USDA|VA) | 1 | $275,000 | $275,000 | $4,433 | 3.50% |
| Los Angeles-Long Beach-Anaheim, CA (FHA|USDA|VA) | 1 | $205,000 | $205,000 | $0 | 1.89% |
| LAKELAND-WINTER HAVEN, FL (FHA|USDA|VA) | 1 | $205,000 | $205,000 | $4,897 | 4.13% |
| Newport, OR (FHA|USDA|VA) | 1 | $205,000 | $205,000 | $0 | 1.89% |
| DENVER-AURORA-LAKEWOOD, CO (FHA|USDA|VA) | 4 | $170,000 | $42,500 | $0 | 1.89% |
| MCALLEN-EDINBURG-MISSION, TX (FHA|USDA|VA) | 1 | $155,000 | $155,000 | $4,909 | 4.13% |
| CALIFORNIA-LEXINGTON PARK, MD (FHA|USDA|VA) | 1 | $125,000 | $125,000 | $0 | 1.89% |
| Heber, UT (FHA|USDA|VA) | 1 | $105,000 | $105,000 | $0 | 1.89% |
| Price, UT (FHA|USDA|VA) | 1 | $105,000 | $105,000 | $2,889 | 4.00% |
| ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) | 1 | $85,000 | $85,000 | $0 | 4.50% |
| PHOENIX-MESA-CHANDLER, AZ (FHA|USDA|VA) | 1 | $75,000 | $75,000 | $0 | 1.89% |
| Taos, NM (FHA|USDA|VA) | 1 | $75,000 | $75,000 | $0 | 7.25% |
| GRAND JUNCTION, CO (FHA|USDA|VA) | 1 | $75,000 | $75,000 | $0 | 4.50% |
| Philadelphia-Camden-Wilmington, PA-NJ-DE-MD (FHA|USDA|VA) | 1 | $75,000 | $75,000 | $193 | 6.24% |
| Greenville, MS (FHA|USDA|VA) | 1 | $65,000 | $65,000 | $0 | 1.89% |
| NASHVILLE-DAVIDSON-MURFREESBORO-FRANKLIN, TN (FHA|USDA|VA) | 1 | $45,000 | $45,000 | $0 | 7.75% |
| Georgetown, SC (FHA|USDA|VA) | 1 | $45,000 | $45,000 | $0 | 1.89% |
| JACKSONVILLE, FL (FHA|USDA|VA) | 1 | $35,000 | $35,000 | $193 | 5.79% |
| Concord, NH (FHA|USDA|VA) | 1 | $35,000 | $35,000 | $193 | 5.74% |
| ROANOKE, VA (FHA|USDA|VA) | 1 | $35,000 | $35,000 | $0 | 4.50% |
| MADISON, WI (FHA|USDA|VA) | 1 | $35,000 | $35,000 | $193 | 5.74% |
| Athens, TX (FHA|USDA|VA) | 1 | $35,000 | $35,000 | $0 | 5.24% |
| MYRTLE BEACH-CONWAY-NORTH MYRTLE BEACH, SC-NC (FHA|USDA|VA) | 1 | $35,000 | $35,000 | $0 | 4.00% |
| HAGERSTOWN-MARTINSBURG, MD-WV (FHA|USDA|VA) | 1 | $25,000 | $25,000 | $193 | 7.54% |
| Kendallville, IN (FHA|USDA|VA) | 1 | $25,000 | $25,000 | $0 | 4.00% |
Similar Lenders
We use machine learning to identify the top lenders compared against CHARTWAY FEDERAL CREDIT UNION based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.
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Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| HELOC | 751 | $71,305,000 | $94,947 | n/a | 3.46% |
| Conventional | 276 | $45,030,000 | $163,152 | $1,724 | 5.37% |
For 2022, Chartway Federal Credit Union's most frequently originated type of loan was HELOC, with 751 originations. Their 2nd most popular type was Conventional, with 276 originations.
Loan Reason
For 2022, Chartway Federal Credit Union's most frequently cited loan purpose was Home Improvement, with 410 originations. The 2nd most popular reason was Other, with 319 originations.
Loan Duration/Length
For 2022, Chartway Federal Credit Union's most frequently cited loan duration was 15 Year, with 809 originations. The 2nd most popular length was 30 Year, with 98 originations.
Origination Fees/Closing Costs
Chartway Federal Credit Union's average total fees were $4,800, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 178 originations.
Interest Rates
During 2022, Chartway Federal Credit Union's average interest rate for loans was 4.44%, while their most frequently originated rate bucket for loans was <2.5%, with 271 originations.
Loan Sizing
2022 saw Chartway Federal Credit Union place emphasis on $100,000 or less loans with 642 originations, totaling $34,020,000 in origination value.
Applicant Income
Chartway Federal Credit Union lent most frequently to those with incomes in the $100k-150k range, with 308 originations. The second most popular income band? $75k-100k, with 200 originations.
Applicant Debt to Income Ratio
Chartway Federal Credit Union lent most frequently to those with DTI ratios of 20-30%, with 260 originations. The next most common DTI ratio? 30-36%, with 223 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications79.18%
Chartway Federal Credit Union has a below average approval rate.
Pick Rate
Approvals leading to origination40.99%
Chartway Federal Credit Union has a low pick rate. They may have issues with closing loans or may approve everyone, but with onerous loan terms.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 1,027 | $116,335,000 | $113,277 |