Northwest Federal Credit Union Mortgage Rates, Fees & Info

Herndon, VA

LEI: 549300OSZK2W0WJYS771

Tax ID: 53-0216888

5 stars - Updated: 10/29/24 - out of 5 stars, based on 40 reviews

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

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Mortgage Data

Review & Overview

Northwest Federal Credit Union is a smaller credit union specializing in Home Improvement, Cash Out Refi, and Home Purchase loans. Northwest Federal Credit Union has a high proportion of conventional loans. Their top markets by origination volume include: Washington, Atlanta, Miami, Myrtle Beach, and Raleigh among others. We have data for 158 markets. (Some data included below & more in-depth data is available with an active subscription.)

Northwest 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. Northwest 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 relatively high 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
Home Equity Line of Credit (HELOC) 7.16% 10/29/24
30 Year Conventional Purchase 6.31% 10/29/24
30 Year Conventional Refi 6.11% 10/29/24
30 Year Cash-out Refi 6.35% 10/29/24
30 Year VA Purchase 6.64% 10/29/24
15 Year Conventional Purchase 5.91% 10/29/24
15 Year Conventional Refi 5.65% 10/29/24
15 Year Cash-out Refi 5.65% 10/29/24
15 Year VA Purchase 5.77% 10/29/24
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.

Northwest 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 Northwest 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

1,574

Origination Dollar Volume (All Markets)

$226,040,000

Awards

Northwest Federal Credit Union 30 Year Conventional Loans gold
Show all (1) awards

Relative Rate

Northwest Federal Credit Union's average 30 year fixed mortgage rate was 6.53%.

The 2023 average 30 year fixed rate mortgage across all markets and lenders was 6.48%.

This yields a difference of 0.05%.

Relative Fees (Closing Costs)

Northwest Federal Credit Union's average total fees/closing costs for a 30 year fixed rate mortgage were $4,700.

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 $9,089.

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
Washington-Arlington-Alexandria, DC-VA-MD-WV (FHA|USDA|VA) 847 $114,855,000 $135,602 $790 7.22%
ATLANTA-SANDY SPRINGS-ALPHARETTA, GA (FHA|USDA|VA) 38 $6,580,000 $173,158 $1,823 7.21%
Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) 54 $5,770,000 $106,852 $655 7.12%
MYRTLE BEACH-CONWAY-NORTH MYRTLE BEACH, SC-NC (FHA|USDA|VA) 21 $5,465,000 $260,238 $2,365 6.82%
RALEIGH-CARY, NC (FHA|USDA|VA) 24 $5,040,000 $210,000 $1,794 7.15%
TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) 24 $4,730,000 $197,083 $2,323 7.20%
PALM BAY-MELBOURNE-TITUSVILLE, FL (FHA|USDA|VA) 21 $4,455,000 $212,143 $3,507 7.25%
Outside of Metro Areas 30 $4,180,000 $139,333 $2,205 7.00%
CHARLOTTE-CONCORD-GASTONIA, NC-SC (FHA|USDA|VA) 24 $3,690,000 $153,750 $965 7.26%
ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) 32 $3,350,000 $104,688 $638 7.11%
JACKSONVILLE, FL (FHA|USDA|VA) 13 $2,985,000 $229,615 $2,258 7.03%
PHOENIX-MESA-CHANDLER, AZ (FHA|USDA|VA) 11 $2,795,000 $254,091 $2,142 6.68%
CHARLESTON-NORTH CHARLESTON, SC (FHA|USDA|VA) 5 $2,535,000 $507,000 $2,764 7.53%
RICHMOND, VA (FHA|USDA|VA) 20 $2,470,000 $123,500 $1,469 7.00%
BALTIMORE-COLUMBIA-TOWSON, MD (FHA|USDA|VA) 24 $2,450,000 $102,083 $848 7.27%
WINCHESTER, VA-WV (FHA|USDA|VA) 20 $2,430,000 $121,500 $791 7.34%
Philadelphia-Camden-Wilmington, PA-NJ-DE-MD (FHA|USDA|VA) 12 $2,350,000 $195,833 $2,107 7.44%
SALISBURY, MD-DE (FHA|USDA|VA) 15 $2,125,000 $141,667 $2,299 7.46%
Chicago-Naperville-Elgin, IL-IN-WI (FHA|USDA|VA) 10 $2,030,000 $203,000 $1,435 6.48%
DENVER-AURORA-LAKEWOOD, CO (FHA|USDA|VA) 8 $1,970,000 $246,250 $2,749 6.38%
DURHAM-CHAPEL HILL, NC (FHA|USDA|VA) 13 $1,945,000 $149,615 $1,708 7.29%
VIRGINIA BEACH-NORFOLK-NEWPORT NEWS, VA-NC (FHA|USDA|VA) 14 $1,920,000 $137,143 $2,046 7.56%
Los Angeles-Long Beach-Anaheim, CA (FHA|USDA|VA) 11 $1,855,000 $168,636 $1,470 7.14%
HILTON HEAD ISLAND-BLUFFTON, SC (FHA|USDA|VA) 8 $1,590,000 $198,750 $3,337 6.80%
PORT ST. LUCIE, FL (FHA|USDA|VA) 14 $1,440,000 $102,857 $1,226 7.06%
North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) 5 $1,205,000 $241,000 $4,327 6.28%
HAGERSTOWN-MARTINSBURG, MD-WV (FHA|USDA|VA) 12 $1,090,000 $90,833 $670 7.14%
New York-Newark-Jersey City, NY-NJ-PA (FHA|USDA|VA) 9 $955,000 $106,111 $989 7.54%
COLUMBIA, SC (FHA|USDA|VA) 8 $940,000 $117,500 $813 8.36%
WINSTON-SALEM, NC (FHA|USDA|VA) 7 $875,000 $125,000 $1,399 7.57%
CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) 6 $860,000 $143,333 $1,566 6.92%
AUGUSTA-RICHMOND COUNTY, GA-SC (FHA|USDA|VA) 4 $830,000 $207,500 $4,645 7.03%
OXNARD-THOUSAND OAKS-VENTURA, CA (FHA|USDA|VA) 1 $785,000 $785,000 $7,996 7.00%
Seneca, SC (FHA|USDA|VA) 1 $705,000 $705,000 $3,874 6.88%
NASHVILLE-DAVIDSON-MURFREESBORO-FRANKLIN, TN (FHA|USDA|VA) 4 $680,000 $170,000 $508 7.28%
HICKORY-LENOIR-MORGANTON, NC (FHA|USDA|VA) 3 $645,000 $215,000 $1,929 7.00%
RIVERSIDE-SAN BERNARDINO-ONTARIO, CA (FHA|USDA|VA) 3 $615,000 $205,000 $0 8.50%
SEBRING-AVON PARK, FL (FHA|USDA|VA) 3 $605,000 $201,667 $5,034 6.54%
FAYETTEVILLE, NC (FHA|USDA|VA) 5 $555,000 $111,000 $1,058 7.28%
EUGENE-SPRINGFIELD, OR (FHA|USDA|VA) 2 $530,000 $265,000 $2,394 7.25%
NAPLES-MARCO ISLAND, FL (FHA|USDA|VA) 2 $530,000 $265,000 $2,418 6.00%
WILMINGTON, NC (FHA|USDA|VA) 4 $500,000 $125,000 $2,061 6.56%
Detroit-Warren-Dearborn, MI (FHA|USDA|VA) 2 $500,000 $250,000 $1,880 7.63%
CHARLOTTESVILLE, VA (FHA|USDA|VA) 3 $495,000 $165,000 $2,916 7.29%
PENSACOLA-FERRY PASS-BRENT, FL (FHA|USDA|VA) 4 $470,000 $117,500 $1,277 7.41%
ALBUQUERQUE, NM (FHA|USDA|VA) 2 $460,000 $230,000 $364 7.25%
DELTONA-DAYTONA BEACH-ORMOND BEACH, FL (FHA|USDA|VA) 5 $455,000 $91,000 $1,798 7.00%
LAKELAND-WINTER HAVEN, FL (FHA|USDA|VA) 3 $445,000 $148,333 $2,872 6.58%
DAYTON-KETTERING, OH (FHA|USDA|VA) 1 $445,000 $445,000 $18,168 6.88%
GAINESVILLE, GA (FHA|USDA|VA) 2 $430,000 $215,000 $3,128 7.75%
Dallas-Fort Worth-Arlington, TX (FHA|USDA|VA) 1 $425,000 $425,000 $5,019 6.63%
SAN ANTONIO-NEW BRAUNFELS, TX (FHA|USDA|VA) 1 $425,000 $425,000 $3,460 5.00%
BREMERTON-SILVERDALE-PORT ORCHARD, WA (FHA|USDA|VA) 1 $405,000 $405,000 $3,208 7.38%
Greenwood, SC (FHA|USDA|VA) 1 $405,000 $405,000 $4,629 6.13%
FAYETTEVILLE-SPRINGDALE-ROGERS, AR (FHA|USDA|VA) 2 $390,000 $195,000 $3,164 6.94%
GREENVILLE-ANDERSON, SC (FHA|USDA|VA) 7 $385,000 $55,000 $712 7.39%
CARSON CITY, NV (FHA|USDA|VA) 1 $385,000 $385,000 $4,292 6.00%
BLACKSBURG-CHRISTIANSBURG, VA (FHA|USDA|VA) 2 $380,000 $190,000 $5,819 6.94%
GREENSBORO-HIGH POINT, NC (FHA|USDA|VA) 4 $380,000 $95,000 $427 7.75%
GOLDSBORO, NC (FHA|USDA|VA) 1 $345,000 $345,000 $3,304 7.25%
Richmond, IN (FHA|USDA|VA) 1 $325,000 $325,000 $1,597 5.38%
SACRAMENTO-ROSEVILLE-FOLSOM, CA (FHA|USDA|VA) 2 $310,000 $155,000 $534 6.88%
PITTSBURGH, PA (FHA|USDA|VA) 4 $310,000 $77,500 $2,021 7.03%
NORWICH-NEW LONDON, CT (FHA|USDA|VA) 2 $310,000 $155,000 $3,589 6.63%
Lebanon, NH-VT (FHA|USDA|VA) 1 $305,000 $305,000 $8,852 6.75%
Bluefield, WV-VA (FHA|USDA|VA) 1 $305,000 $305,000 $3,259 7.13%
SAN JOSE-SUNNYVALE-SANTA CLARA, CA (FHA|USDA|VA) 1 $305,000 $305,000 $299 6.88%
INDIANAPOLIS-CARMEL-ANDERSON, IN (FHA|USDA|VA) 2 $300,000 $150,000 $304 6.88%
ROANOKE, VA (FHA|USDA|VA) 2 $300,000 $150,000 $223 6.88%
WICHITA, KS (FHA|USDA|VA) 1 $295,000 $295,000 $3,727 7.13%
CINCINNATI, OH-KY-IN (FHA|USDA|VA) 4 $290,000 $72,500 $520 7.09%
Shelby, NC (FHA|USDA|VA) 1 $275,000 $275,000 $3,019 6.00%
Seattle-Tacoma-Bellevue, WA (FHA|USDA|VA) 2 $270,000 $135,000 $297 6.75%
Key West, FL (FHA|USDA|VA) 1 $255,000 $255,000 $0 8.25%
LAS VEGAS-HENDERSON-PARADISE, NV (FHA|USDA|VA) 3 $255,000 $85,000 $298 6.96%
BRIDGEPORT-STAMFORD-NORWALK, CT (FHA|USDA|VA) 1 $255,000 $255,000 $0 8.50%
Boston-Cambridge-Newton, MA-NH (FHA|USDA|VA) 3 $255,000 $85,000 $561 6.38%
ST. LOUIS, MO-IL (FHA|USDA|VA) 4 $250,000 $62,500 $467 7.28%
OWENSBORO, KY (FHA|USDA|VA) 1 $245,000 $245,000 $1,947 7.63%
OCEAN CITY, NJ (FHA|USDA|VA) 1 $245,000 $245,000 $3,675 7.50%
Hillsdale, MI (FHA|USDA|VA) 1 $235,000 $235,000 $4,604 5.63%
CHATTANOOGA, TN-GA (FHA|USDA|VA) 2 $230,000 $115,000 $304 7.88%
ST. GEORGE, UT (FHA|USDA|VA) 1 $225,000 $225,000 $4,107 7.50%
Tullahoma-Manchester, TN (FHA|USDA|VA) 1 $225,000 $225,000 $2,853 6.25%
MINNEAPOLIS-ST. PAUL-BLOOMINGTON, MN-WI (FHA|USDA|VA) 1 $225,000 $225,000 $3,280 6.25%
SAN DIEGO-CHULA VISTA-CARLSBAD, CA (FHA|USDA|VA) 1 $225,000 $225,000 $303 6.88%
MEMPHIS, TN-MS-AR (FHA|USDA|VA) 2 $220,000 $110,000 $1,985 6.25%
Jefferson, GA (FHA|USDA|VA) 2 $220,000 $110,000 $0 7.63%
Fairmont, WV (FHA|USDA|VA) 1 $215,000 $215,000 $3,730 6.50%
SPARTANBURG, SC (FHA|USDA|VA) 3 $215,000 $71,667 $647 7.04%
Pinehurst-Southern Pines, NC (FHA|USDA|VA) 2 $210,000 $105,000 $337 7.88%
Danville, VA (FHA|USDA|VA) 2 $210,000 $105,000 $1,854 7.13%
Rockingham, NC (FHA|USDA|VA) 2 $210,000 $105,000 $0 7.63%
OMAHA-COUNCIL BLUFFS, NE-IA (FHA|USDA|VA) 1 $205,000 $205,000 $304 6.88%
ATHENS-CLARKE COUNTY, GA (FHA|USDA|VA) 3 $195,000 $65,000 $583 7.29%
Cookeville, TN (FHA|USDA|VA) 2 $190,000 $95,000 $802 6.88%
Kinston, NC (FHA|USDA|VA) 2 $190,000 $95,000 $5,875 7.81%
LYNCHBURG, VA (FHA|USDA|VA) 1 $185,000 $185,000 $378 7.25%
ASHEVILLE, NC (FHA|USDA|VA) 2 $180,000 $90,000 $349 7.00%
TRENTON-PRINCETON, NJ (FHA|USDA|VA) 1 $175,000 $175,000 $374 7.50%
JACKSON, MS (FHA|USDA|VA) 2 $170,000 $85,000 $1,793 6.31%
BINGHAMTON, NY (FHA|USDA|VA) 1 $165,000 $165,000 $4,761 7.00%
DAPHNE-FAIRHOPE-FOLEY, AL (FHA|USDA|VA) 1 $165,000 $165,000 $224 7.25%
Easton, MD (FHA|USDA|VA) 2 $160,000 $80,000 $282 7.31%
PUNTA GORDA, FL (FHA|USDA|VA) 2 $160,000 $80,000 $0 7.38%
LANCASTER, PA (FHA|USDA|VA) 1 $155,000 $155,000 $293 7.25%
GETTYSBURG, PA (FHA|USDA|VA) 1 $145,000 $145,000 $2,603 5.63%
San Francisco-Oakland-Berkeley, CA (FHA|USDA|VA) 2 $140,000 $70,000 $323 6.88%
SPRINGFIELD, MA (FHA|USDA|VA) 1 $135,000 $135,000 $4,033 7.38%
HOMOSASSA SPRINGS, FL (FHA|USDA|VA) 2 $130,000 $65,000 $303 7.19%
OCALA, FL (FHA|USDA|VA) 2 $130,000 $65,000 $2,085 7.13%
ALBANY, GA (FHA|USDA|VA) 1 $125,000 $125,000 $562 6.50%
BIRMINGHAM-HOOVER, AL (FHA|USDA|VA) 1 $115,000 $115,000 $0 7.25%
DECATUR, AL (FHA|USDA|VA) 1 $115,000 $115,000 $510 7.88%
KINGSPORT-BRISTOL, TN-VA (FHA|USDA|VA) 1 $115,000 $115,000 $3,070 6.00%
JACKSONVILLE, NC (FHA|USDA|VA) 3 $115,000 $38,333 $384 6.83%
CRESTVIEW-FORT WALTON BEACH-DESTIN, FL (FHA|USDA|VA) 2 $110,000 $55,000 $304 6.50%
BOULDER, CO (FHA|USDA|VA) 1 $105,000 $105,000 $0 8.00%
KNOXVILLE, TN (FHA|USDA|VA) 1 $105,000 $105,000 $342 7.00%
OLYMPIA-LACEY-TUMWATER, WA (FHA|USDA|VA) 1 $105,000 $105,000 $2,010 5.50%
COLORADO SPRINGS, CO (FHA|USDA|VA) 1 $105,000 $105,000 $0 8.00%
KANSAS CITY, MO-KS (FHA|USDA|VA) 1 $95,000 $95,000 $339 7.00%
HUNTINGTON-ASHLAND, WV-KY-OH (FHA|USDA|VA) 1 $95,000 $95,000 $1,814 6.50%
ALTOONA, PA (FHA|USDA|VA) 1 $85,000 $85,000 $0 7.50%
LaGrange, GA-AL (FHA|USDA|VA) 2 $80,000 $40,000 $564 7.44%
Cambridge, MD (FHA|USDA|VA) 1 $75,000 $75,000 $262 7.88%
Roanoke Rapids, NC (FHA|USDA|VA) 1 $75,000 $75,000 $4,907 8.25%
ROCKY MOUNT, NC (FHA|USDA|VA) 1 $65,000 $65,000 $0 9.74%
LOUISVILLE, KY (FHA|USDA|VA) 1 $65,000 $65,000 $339 7.13%
ROCKFORD, IL (FHA|USDA|VA) 1 $55,000 $55,000 $0 7.00%
FLORENCE, SC (FHA|USDA|VA) 1 $55,000 $55,000 $0 9.99%
GAINESVILLE, FL (FHA|USDA|VA) 1 $55,000 $55,000 $262 7.88%
Georgetown, SC (FHA|USDA|VA) 1 $55,000 $55,000 $694 7.00%
Sanford, NC (FHA|USDA|VA) 1 $55,000 $55,000 $337 8.75%
PORTLAND-VANCOUVER-HILLSBORO, OR-WA (FHA|USDA|VA) 1 $55,000 $55,000 $364 7.00%
GRANTS PASS, OR (FHA|USDA|VA) 1 $55,000 $55,000 $354 6.75%
STAUNTON, VA (FHA|USDA|VA) 1 $55,000 $55,000 $284 6.63%
OKLAHOMA CITY, OK (FHA|USDA|VA) 1 $55,000 $55,000 $0 7.25%
TOLEDO, OH (FHA|USDA|VA) 1 $55,000 $55,000 $0 7.75%
TUCSON, AZ (FHA|USDA|VA) 1 $55,000 $55,000 $297 6.25%
VALLEJO, CA (FHA|USDA|VA) 1 $55,000 $55,000 $299 8.00%
WATERTOWN-FORT DRUM, NY (FHA|USDA|VA) 1 $55,000 $55,000 $339 6.13%
Waycross, GA (FHA|USDA|VA) 1 $45,000 $45,000 $564 6.75%
HARRISBURG-CARLISLE, PA (FHA|USDA|VA) 1 $45,000 $45,000 $304 6.25%
Sebastian-Vero Beach, FL (FHA|USDA|VA) 1 $45,000 $45,000 $282 6.88%
HUNTSVILLE, AL (FHA|USDA|VA) 1 $45,000 $45,000 $0 8.00%
BUFFALO-CHEEKTOWAGA, NY (FHA|USDA|VA) 1 $35,000 $35,000 $309 7.63%
SCRANTON--WILKES-BARRE, PA (FHA|USDA|VA) 1 $35,000 $35,000 $354 6.88%
LEWISTON-AUBURN, ME (FHA|USDA|VA) 1 $35,000 $35,000 $0 8.25%
Elizabeth City, NC (FHA|USDA|VA) 1 $35,000 $35,000 $419 7.75%
CALIFORNIA-LEXINGTON PARK, MD (FHA|USDA|VA) 1 $35,000 $35,000 $282 8.25%
TALLAHASSEE, FL (FHA|USDA|VA) 1 $35,000 $35,000 $325 7.00%
LEBANON, PA (FHA|USDA|VA) 1 $25,000 $25,000 $0 7.25%
Port Angeles, WA (FHA|USDA|VA) 1 $25,000 $25,000 $299 6.00%
Batavia, NY (FHA|USDA|VA) 1 $25,000 $25,000 $0 8.50%
WARNER ROBINS, GA (FHA|USDA|VA) 1 $25,000 $25,000 $564 6.25%
McMinnville, TN (FHA|USDA|VA) 1 $25,000 $25,000 $316 6.00%
MADISON, WI (FHA|USDA|VA) 1 $25,000 $25,000 $0 7.00%
Northwest Federal Credit Union's top markets include Washington, Atlanta, Miami, Myrtle Beach, and Raleigh among others.

Their top states include:
  • Virginia (FHA|USDA|VA)
  • Florida (FHA|USDA|VA)
  • North Carolina (FHA|USDA|VA)
  • Maryland (FHA|USDA|VA)
  • South Carolina (FHA|USDA|VA)
  • Similar Lenders

    We use machine learning to identify the top lenders compared against Northwest Federal Credit Union based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.

    DEL-ONE FEDERAL CREDIT UNION
    Similarity Rank: 42
    First Savings Bank of Hegewisch
    Similarity Rank: 46
    ABNB Federal Credit Union
    Similarity Rank: 65
    JOHNSON MORTGAGE COMPANY, L.L.C.
    Similarity Rank: 108
    SCIENT Federal Credit Union
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    FIRST FINANCIAL OF MARYLAND
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    POINT BREEZE
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    Liberty Bank for Savings
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    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 1,048 $159,460,000 $152,156 $1,214 6.88%
    HELOC 521 $63,975,000 $122,793 n/a 7.79%
    VA 5 $2,605,000 $521,000 $7,056 6.93%

    For 2023, Northwest Federal Credit Union's most frequently originated type of loan was Conventional, with 1,048 originations. Their 2nd most popular type was HELOC, with 521 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Improvement 787 $81,865,000 $104,022 $328 7.28%
    Cash Out Refi 532 $54,770,000 $102,951 $362 7.30%
    Home Purchase 247 $87,045,000 $352,409 $4,262 6.65%
    Refi 8 $2,360,000 $295,000 $3,450 6.27%

    For 2023, Northwest Federal Credit Union's most frequently cited loan purpose was Home Improvement, with 787 originations. The 2nd most popular reason was Cash Out Refi, with 532 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    15 Year 731 $85,325,000 $116,724 $580 7.50%
    20 Year 356 $41,530,000 $116,657 $463 7.40%
    30 Year 197 $79,255,000 $402,310 $4,700 6.53%
    10 Year 155 $12,455,000 $80,355 $364 6.90%
    Other 72 $4,420,000 $61,389 $290 6.27%
    5 Year 63 $3,055,000 $48,492 $241 6.08%

    For 2023, Northwest Federal Credit Union's most frequently cited loan duration was 15 Year, with 731 originations. The 2nd most popular length was 20 Year, with 356 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 948 $125,800,000 $132,700
    $1k-2k 43 $12,565,000 $292,209
    $2k-3k 28 $9,960,000 $355,714
    $4k-5k 13 $4,805,000 $369,615
    $5k+ 11 $4,545,000 $413,182
    $3k-4k 10 $4,390,000 $439,000

    Northwest Federal Credit Union's average total fees were $4,700, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 948 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    7-8% 638 $95,200,000 $149,216
    6-7% 615 $75,775,000 $123,211
    Over 8% 179 $20,205,000 $112,877
    5-6% 137 $32,145,000 $234,635
    4-5% 5 $2,715,000 $543,000

    During 2023, Northwest Federal Credit Union's average interest rate for loans was 6.53%, while their most frequently originated rate bucket for loans was 7-8%, with 638 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 779 $45,575,000 $58,504 $382 7.17%
    $100k-200k 460 $61,100,000 $132,826 $692 7.32%
    $200k-400k 245 $64,795,000 $264,469 $2,807 7.23%
    $400k-600k 56 $27,220,000 $486,071 $5,300 6.42%
    $600k-1MM 29 $20,925,000 $721,552 $5,585 6.44%
    $1MM+ 5 $6,425,000 $1,285,000 $6,607 6.28%

    2023 saw Northwest Federal Credit Union place emphasis on $100,000 or less loans with 779 originations, totaling $45,575,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $150k-250k 570 $89,650,000 $157,281 $1,266 7.17%
    $100k-150k 393 $43,135,000 $109,758 $987 7.18%
    $250k+ 269 $61,465,000 $228,494 $1,717 7.26%
    $75k-100k 174 $16,990,000 $97,644 $1,157 7.21%
    $50k-75k 119 $10,445,000 $87,773 $1,114 7.07%
    $50k or less 31 $2,165,000 $69,839 $1,578 7.07%

    Northwest Federal Credit Union lent most frequently to those with incomes in the $150k-250k range, with 570 originations. The second most popular income band? $100k-150k, with 393 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 353 $49,535,000 $140,326 $1,302 7.06%
    30-36% 285 $41,075,000 $144,123 $1,279 7.17%
    44% 202 $23,300,000 $115,347 $590 7.40%
    42% 101 $14,795,000 $146,485 $1,177 7.24%
    43% 95 $11,045,000 $116,263 $713 7.36%
    <20% 87 $13,855,000 $159,253 $1,685 6.90%
    41% 81 $10,585,000 $130,679 $899 7.24%
    36% 70 $10,300,000 $147,143 $1,321 7.31%
    39% 68 $9,320,000 $137,059 $1,257 7.21%
    38% 66 $8,820,000 $133,636 $1,163 7.27%
    40% 66 $10,080,000 $152,727 $932 7.16%
    37% 54 $7,440,000 $137,778 $1,295 7.21%
    49% 14 $4,580,000 $327,143 $3,925 6.55%
    45% 13 $3,845,000 $295,769 $4,595 7.13%
    48% 6 $2,760,000 $460,000 $4,215 6.69%
    46% 6 $3,310,000 $551,667 $4,628 7.17%
    47% 5 $1,185,000 $237,000 $2,050 6.88%
    >60% 2 $210,000 $105,000 $466 6.75%

    Northwest Federal Credit Union lent most frequently to those with DTI ratios of 20-30%, with 353 originations. The next most common DTI ratio? 30-36%, with 285 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 1,041 $148,055,000 $142,224 $1,280 7.14%
    Not provided 238 $39,510,000 $166,008 $1,383 7.19%
    Black 177 $20,475,000 $115,678 $991 7.43%
    Asian 69 $11,135,000 $161,377 $1,078 7.22%
    Asian Indian 21 $3,305,000 $157,381 $368 7.26%
    American Indian 13 $1,595,000 $122,692 $1,307 7.04%
    Other Asian 6 $950,000 $158,333 $772 6.71%
    Native Hawaiian or Islander 3 $365,000 $121,667 $187 6.88%
    Filipino 2 $340,000 $170,000 $2,953 6.38%
    Vietnamese 2 $210,000 $105,000 $159 7.06%
    Other Pacific Islander 2 $100,000 $50,000 $481 6.94%

    Approval Rates

    Total approvals of all applications
    81.76%

    Northwest Federal Credit Union has a below average approval rate.

    Pick Rate

    Approvals leading to origination
    76.56%

    Northwest Federal Credit Union has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 1,574 $226,040,000 $143,609

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    1,574 $226,040,000 $143,609

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 377 $58,205,000 $154,390 $568 7.50%
    40-60% 71 $19,095,000 $268,944 $2,884 7.00%
    60-80% 96 $37,540,000 $391,042 $4,903 6.75%
    80-100% 87 $36,095,000 $414,885 $4,619 6.56%
    Over 100% 1 $445,000 $445,000 $18,168 6.88%
    Under 20% 942 $74,660,000 $79,257 $325 7.17%