Quorum Federal Credit Union Mortgage Rates, Fees & Info

Harrison, NY

LEI: 549300Q50XCC0473FG63

Tax ID: 13-1517541

1 stars - Updated: 6/23/24 - out of 5 stars, based on 29 reviews

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

Jump to:

Mortgage Data

Review & Overview

Quorum Federal Credit Union is a smaller credit union specializing in Cash Out Refi loans. Quorum Federal Credit Union has an average proportion of conventional loans. Their top markets by origination volume include: New York, Los Angeles, Charlotte, Nashville, and Miami among others. We have data for 150 markets. (Some data included below & more in-depth data is available with an active subscription.)

Quorum Federal Credit Union has a below average approval rate when compared to the average across all lenders. They have a below average pick rate when compared to similar lenders. Quorum 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 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) 8.22% 6/23/24
30 Year Conventional Purchase 6.78% 6/23/24
30 Year Conventional Refi 6.30% 6/23/24
30 Year Cash-out Refi 7.65% 6/23/24
15 Year Conventional Purchase 5.97% 6/23/24
15 Year Conventional Refi 5.63% 6/23/24
15 Year Cash-out Refi 5.63% 6/23/24
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.

Quorum 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 Quorum 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

850

Origination Dollar Volume (All Markets)

$99,970,000

Relative Rate

Quorum Federal Credit Union's average 30 year fixed mortgage rate was 11.02%.

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

This yields a difference of 4.54%.

Relative Fees (Closing Costs)

Quorum Federal Credit Union's average total fees/closing costs for a 30 year fixed rate mortgage were $4,735.

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
New York-Newark-Jersey City, NY-NJ-PA (FHA|USDA|VA) 93 $12,885,000 $138,548 $5,312 10.85%
Los Angeles-Long Beach-Anaheim, CA (FHA|USDA|VA) 52 $9,800,000 $188,462 $0 10.83%
CHARLOTTE-CONCORD-GASTONIA, NC-SC (FHA|USDA|VA) 54 $5,160,000 $95,556 $2,363 11.49%
NASHVILLE-DAVIDSON-MURFREESBORO-FRANKLIN, TN (FHA|USDA|VA) 49 $4,905,000 $100,102 $2,527 10.87%
Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) 37 $4,835,000 $130,676 $8,349 10.87%
PHOENIX-MESA-CHANDLER, AZ (FHA|USDA|VA) 22 $2,850,000 $129,545 $0 11.83%
DENVER-AURORA-LAKEWOOD, CO (FHA|USDA|VA) 23 $2,355,000 $102,391 $3,031 10.52%
RIVERSIDE-SAN BERNARDINO-ONTARIO, CA (FHA|USDA|VA) 17 $2,285,000 $134,412 $0 10.71%
Chicago-Naperville-Elgin, IL-IN-WI (FHA|USDA|VA) 22 $2,110,000 $95,909 $6,619 11.71%
JACKSONVILLE, FL (FHA|USDA|VA) 17 $2,085,000 $122,647 $0 10.66%
Boston-Cambridge-Newton, MA-NH (FHA|USDA|VA) 15 $2,075,000 $138,333 $0 11.15%
CINCINNATI, OH-KY-IN (FHA|USDA|VA) 23 $1,975,000 $85,870 $3,272 11.06%
San Francisco-Oakland-Berkeley, CA (FHA|USDA|VA) 11 $1,795,000 $163,182 $0 11.17%
RALEIGH-CARY, NC (FHA|USDA|VA) 17 $1,725,000 $101,471 $0 11.10%
Philadelphia-Camden-Wilmington, PA-NJ-DE-MD (FHA|USDA|VA) 13 $1,515,000 $116,538 $0 11.16%
Washington-Arlington-Alexandria, DC-VA-MD-WV (FHA|USDA|VA) 13 $1,495,000 $115,000 $2,923 11.23%
TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) 15 $1,405,000 $93,667 $0 11.61%
Outside of Metro Areas 7 $1,325,000 $189,286 $0 11.71%
Seattle-Tacoma-Bellevue, WA (FHA|USDA|VA) 11 $1,295,000 $117,727 $0 10.97%
SAN DIEGO-CHULA VISTA-CARLSBAD, CA (FHA|USDA|VA) 8 $1,200,000 $150,000 $0 11.28%
BRIDGEPORT-STAMFORD-NORWALK, CT (FHA|USDA|VA) 7 $1,175,000 $167,857 $0 10.84%
ATLANTA-SANDY SPRINGS-ALPHARETTA, GA (FHA|USDA|VA) 11 $1,155,000 $105,000 $0 12.00%
SACRAMENTO-ROSEVILLE-FOLSOM, CA (FHA|USDA|VA) 14 $1,120,000 $80,000 $0 11.34%
SAN JOSE-SUNNYVALE-SANTA CLARA, CA (FHA|USDA|VA) 4 $1,010,000 $252,500 $0 9.87%
POUGHKEEPSIE-NEWBURGH-MIDDLETOWN, NY (FHA|USDA|VA) 9 $925,000 $102,778 $3,877 11.07%
CHARLESTON-NORTH CHARLESTON, SC (FHA|USDA|VA) 10 $920,000 $92,000 $0 11.45%
LAS VEGAS-HENDERSON-PARADISE, NV (FHA|USDA|VA) 9 $905,000 $100,556 $0 10.79%
BALTIMORE-COLUMBIA-TOWSON, MD (FHA|USDA|VA) 8 $890,000 $111,250 $0 11.25%
PORTLAND-VANCOUVER-HILLSBORO, OR-WA (FHA|USDA|VA) 9 $875,000 $97,222 $0 11.97%
TRENTON-PRINCETON, NJ (FHA|USDA|VA) 4 $830,000 $207,500 $4,395 9.97%
VIRGINIA BEACH-NORFOLK-NEWPORT NEWS, VA-NC (FHA|USDA|VA) 9 $775,000 $86,111 $0 11.40%
PORT ST. LUCIE, FL (FHA|USDA|VA) 6 $730,000 $121,667 $0 10.42%
INDIANAPOLIS-CARMEL-ANDERSON, IN (FHA|USDA|VA) 5 $665,000 $133,000 $2,224 10.40%
FRESNO, CA (FHA|USDA|VA) 5 $615,000 $123,000 $0 11.07%
SANTA MARIA-SANTA BARBARA, CA (FHA|USDA|VA) 5 $605,000 $121,000 $0 10.65%
STOCKTON, CA (FHA|USDA|VA) 9 $585,000 $65,000 $0 11.51%
PALM BAY-MELBOURNE-TITUSVILLE, FL (FHA|USDA|VA) 2 $580,000 $290,000 $6,745 9.50%
URBAN HONOLULU, HI (FHA|USDA|VA) 3 $545,000 $181,667 $0 10.66%
KANSAS CITY, MO-KS (FHA|USDA|VA) 5 $535,000 $107,000 $0 10.15%
CLEVELAND-ELYRIA, OH (FHA|USDA|VA) 7 $535,000 $76,429 $0 12.11%
COLUMBUS, OH (FHA|USDA|VA) 5 $515,000 $103,000 $0 11.50%
OXNARD-THOUSAND OAKS-VENTURA, CA (FHA|USDA|VA) 5 $495,000 $99,000 $0 11.68%
WORCESTER, MA-CT (FHA|USDA|VA) 5 $485,000 $97,000 $0 10.48%
North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) 3 $455,000 $151,667 $0 10.91%
ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) 3 $415,000 $138,333 $0 10.79%
SANTA ROSA-PETALUMA, CA (FHA|USDA|VA) 3 $405,000 $135,000 $0 11.67%
PITTSBURGH, PA (FHA|USDA|VA) 1 $405,000 $405,000 $5,189 7.25%
SALT LAKE CITY, UT (FHA|USDA|VA) 3 $395,000 $131,667 $0 10.96%
CLARKSVILLE, TN-KY (FHA|USDA|VA) 4 $390,000 $97,500 $0 11.75%
MINNEAPOLIS-ST. PAUL-BLOOMINGTON, MN-WI (FHA|USDA|VA) 7 $375,000 $53,571 $0 10.86%
NAPLES-MARCO ISLAND, FL (FHA|USDA|VA) 3 $375,000 $125,000 $0 12.75%
SALEM, OR (FHA|USDA|VA) 3 $345,000 $115,000 $0 10.79%
VALLEJO, CA (FHA|USDA|VA) 5 $315,000 $63,000 $0 12.00%
FAYETTEVILLE, NC (FHA|USDA|VA) 3 $315,000 $105,000 $0 12.63%
Hudson, NY (FHA|USDA|VA) 2 $310,000 $155,000 $0 10.13%
FORT COLLINS, CO (FHA|USDA|VA) 2 $300,000 $150,000 $0 11.00%
SPRINGFIELD, IL (FHA|USDA|VA) 1 $295,000 $295,000 $1,969 6.38%
ST. LOUIS, MO-IL (FHA|USDA|VA) 3 $295,000 $98,333 $0 10.16%
Key West, FL (FHA|USDA|VA) 3 $295,000 $98,333 $0 12.04%
HARTFORD-EAST HARTFORD-MIDDLETOWN, CT (FHA|USDA|VA) 2 $290,000 $145,000 $0 12.13%
VISALIA, CA (FHA|USDA|VA) 2 $270,000 $135,000 $0 10.75%
HICKORY-LENOIR-MORGANTON, NC (FHA|USDA|VA) 3 $265,000 $88,333 $0 10.71%
PORTLAND-SOUTH PORTLAND, ME (FHA|USDA|VA) 2 $260,000 $130,000 $0 12.37%
BREMERTON-SILVERDALE-PORT ORCHARD, WA (FHA|USDA|VA) 2 $260,000 $130,000 $0 12.12%
PROVIDENCE-WARWICK, RI-MA (FHA|USDA|VA) 4 $260,000 $65,000 $0 10.72%
Marquette, MI (FHA|USDA|VA) 1 $255,000 $255,000 $0 9.99%
SPOKANE-SPOKANE VALLEY, WA (FHA|USDA|VA) 1 $255,000 $255,000 $0 10.75%
KENNEWICK-RICHLAND, WA (FHA|USDA|VA) 3 $255,000 $85,000 $0 11.00%
Edwards, CO (FHA|USDA|VA) 1 $255,000 $255,000 $0 10.49%
Payson, AZ (FHA|USDA|VA) 1 $255,000 $255,000 $0 9.50%
OKLAHOMA CITY, OK (FHA|USDA|VA) 1 $255,000 $255,000 $0 12.50%
GREEN BAY, WI (FHA|USDA|VA) 2 $250,000 $125,000 $0 10.50%
DAPHNE-FAIRHOPE-FOLEY, AL (FHA|USDA|VA) 3 $245,000 $81,667 $0 9.66%
LAKELAND-WINTER HAVEN, FL (FHA|USDA|VA) 2 $240,000 $120,000 $0 10.63%
OGDEN-CLEARFIELD, UT (FHA|USDA|VA) 2 $230,000 $115,000 $0 12.50%
ALBUQUERQUE, NM (FHA|USDA|VA) 1 $225,000 $225,000 $0 10.50%
BURLINGTON, NC (FHA|USDA|VA) 1 $215,000 $215,000 $0 12.50%
NILES, MI (FHA|USDA|VA) 1 $205,000 $205,000 $0 10.00%
ST. CLOUD, MN (FHA|USDA|VA) 1 $205,000 $205,000 $2,439 6.88%
DURHAM-CHAPEL HILL, NC (FHA|USDA|VA) 2 $190,000 $95,000 $0 11.50%
CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) 2 $190,000 $95,000 $0 11.75%
NEW HAVEN-MILFORD, CT (FHA|USDA|VA) 2 $190,000 $95,000 $0 11.37%
WHEELING, WV-OH (FHA|USDA|VA) 3 $185,000 $61,667 $0 11.46%
KINGSPORT-BRISTOL, TN-VA (FHA|USDA|VA) 1 $185,000 $185,000 $0 11.00%
MEMPHIS, TN-MS-AR (FHA|USDA|VA) 2 $180,000 $90,000 $0 12.63%
Findlay, OH (FHA|USDA|VA) 3 $175,000 $58,333 $0 12.71%
Shelbyville, TN (FHA|USDA|VA) 1 $175,000 $175,000 $0 12.38%
Tupelo, MS (FHA|USDA|VA) 2 $170,000 $85,000 $0 11.88%
RENO, NV (FHA|USDA|VA) 1 $165,000 $165,000 $0 11.00%
NAPA, CA (FHA|USDA|VA) 2 $160,000 $80,000 $0 10.37%
ATHENS-CLARKE COUNTY, GA (FHA|USDA|VA) 2 $160,000 $80,000 $0 12.25%
MANCHESTER-NASHUA, NH (FHA|USDA|VA) 1 $155,000 $155,000 $0 9.75%
Seneca, SC (FHA|USDA|VA) 1 $155,000 $155,000 $0 11.13%
TUCSON, AZ (FHA|USDA|VA) 2 $150,000 $75,000 $0 9.87%
GREELEY, CO (FHA|USDA|VA) 2 $150,000 $75,000 $0 11.31%
NEW ORLEANS-METAIRIE, LA (FHA|USDA|VA) 2 $150,000 $75,000 $0 12.99%
ROCHESTER, NY (FHA|USDA|VA) 2 $140,000 $70,000 $0 11.37%
BOISE CITY, ID (FHA|USDA|VA) 3 $135,000 $45,000 $0 12.08%
BAKERSFIELD, CA (FHA|USDA|VA) 1 $125,000 $125,000 $0 10.50%
DES MOINES-WEST DES MOINES, IA (FHA|USDA|VA) 2 $120,000 $60,000 $0 11.62%
DELTONA-DAYTONA BEACH-ORMOND BEACH, FL (FHA|USDA|VA) 1 $115,000 $115,000 $0 10.25%
COLORADO SPRINGS, CO (FHA|USDA|VA) 1 $105,000 $105,000 $0 11.00%
Lawrenceburg, TN (FHA|USDA|VA) 1 $105,000 $105,000 $0 11.50%
KINGSTON, NY (FHA|USDA|VA) 1 $105,000 $105,000 $0 9.75%
BOWLING GREEN, KY (FHA|USDA|VA) 1 $105,000 $105,000 $0 10.75%
HOMOSASSA SPRINGS, FL (FHA|USDA|VA) 1 $105,000 $105,000 $0 9.50%
PUNTA GORDA, FL (FHA|USDA|VA) 1 $105,000 $105,000 $0 9.50%
RICHMOND, VA (FHA|USDA|VA) 1 $105,000 $105,000 $0 10.88%
Henderson, NC (FHA|USDA|VA) 1 $105,000 $105,000 $0 10.63%
WICHITA, KS (FHA|USDA|VA) 1 $95,000 $95,000 $0 13.75%
TWIN FALLS, ID (FHA|USDA|VA) 2 $90,000 $45,000 $0 10.50%
St. Marys, GA (FHA|USDA|VA) 1 $85,000 $85,000 $0 11.13%
SYRACUSE, NY (FHA|USDA|VA) 1 $85,000 $85,000 $0 12.75%
DAYTON-KETTERING, OH (FHA|USDA|VA) 1 $85,000 $85,000 $0 11.13%
Bozeman, MT (FHA|USDA|VA) 1 $85,000 $85,000 $0 9.75%
BARNSTABLE TOWN, MA (FHA|USDA|VA) 1 $75,000 $75,000 $0 9.50%
Montrose, CO (FHA|USDA|VA) 1 $75,000 $75,000 $0 12.38%
Tullahoma-Manchester, TN (FHA|USDA|VA) 1 $75,000 $75,000 $1,953 9.75%
LAKE HAVASU CITY-KINGMAN, AZ (FHA|USDA|VA) 1 $75,000 $75,000 $0 9.75%
ST. JOSEPH, MO-KS (FHA|USDA|VA) 1 $75,000 $75,000 $0 9.00%
SANTA CRUZ-WATSONVILLE, CA (FHA|USDA|VA) 1 $75,000 $75,000 $0 11.25%
IDAHO FALLS, ID (FHA|USDA|VA) 1 $75,000 $75,000 $0 12.75%
HAGERSTOWN-MARTINSBURG, MD-WV (FHA|USDA|VA) 1 $75,000 $75,000 $0 10.88%
NORWICH-NEW LONDON, CT (FHA|USDA|VA) 1 $65,000 $65,000 $0 9.50%
TULSA, OK (FHA|USDA|VA) 1 $65,000 $65,000 $0 11.00%
BOULDER, CO (FHA|USDA|VA) 1 $65,000 $65,000 $0 9.75%
BILLINGS, MT (FHA|USDA|VA) 1 $65,000 $65,000 $0 9.99%
KNOXVILLE, TN (FHA|USDA|VA) 1 $65,000 $65,000 $0 10.24%
MADERA, CA (FHA|USDA|VA) 1 $55,000 $55,000 $0 15.00%
ASHEVILLE, NC (FHA|USDA|VA) 1 $55,000 $55,000 $0 10.13%
Aberdeen, WA (FHA|USDA|VA) 1 $55,000 $55,000 $0 10.50%
COLUMBIA, SC (FHA|USDA|VA) 1 $55,000 $55,000 $0 11.13%
SPRINGFIELD, MA (FHA|USDA|VA) 1 $55,000 $55,000 $0 10.50%
CHATTANOOGA, TN-GA (FHA|USDA|VA) 1 $55,000 $55,000 $0 10.49%
MYRTLE BEACH-CONWAY-NORTH MYRTLE BEACH, SC-NC (FHA|USDA|VA) 1 $55,000 $55,000 $0 12.50%
ALLENTOWN-BETHLEHEM-EASTON, PA-NJ (FHA|USDA|VA) 1 $55,000 $55,000 $0 11.50%
MILWAUKEE-WAUKESHA, WI (FHA|USDA|VA) 1 $55,000 $55,000 $0 13.50%
Yankton, SD (FHA|USDA|VA) 1 $55,000 $55,000 $0 9.50%
ANCHORAGE, AK (FHA|USDA|VA) 1 $45,000 $45,000 $0 11.63%
LIMA, OH (FHA|USDA|VA) 1 $45,000 $45,000 $0 14.50%
HUNTINGTON-ASHLAND, WV-KY-OH (FHA|USDA|VA) 1 $45,000 $45,000 $0 14.50%
Forest City, NC (FHA|USDA|VA) 1 $45,000 $45,000 $0 11.00%
YUMA, AZ (FHA|USDA|VA) 1 $45,000 $45,000 $0 11.88%
APPLETON, WI (FHA|USDA|VA) 1 $35,000 $35,000 $0 10.50%
Adrian, MI (FHA|USDA|VA) 1 $35,000 $35,000 $0 13.72%
CHICO, CA (FHA|USDA|VA) 1 $35,000 $35,000 $0 11.88%
SPARTANBURG, SC (FHA|USDA|VA) 1 $25,000 $25,000 $0 14.50%
EUGENE-SPRINGFIELD, OR (FHA|USDA|VA) 1 $25,000 $25,000 $0 10.24%
GREENVILLE-ANDERSON, SC (FHA|USDA|VA) 1 $25,000 $25,000 $0 11.63%
TALLAHASSEE, FL (FHA|USDA|VA) 1 $25,000 $25,000 $0 11.00%
Quorum Federal Credit Union's top markets include New York, Los Angeles, Charlotte, Nashville, and Miami among others.

Their top states include:
  • California (FHA|USDA|VA)
  • New York (FHA|USDA|VA)
  • Florida (FHA|USDA|VA)
  • North Carolina (FHA|USDA|VA)
  • Tennessee (FHA|USDA|VA)
  • Similar Lenders

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

    First Savings Bank of Hegewisch
    Similarity Rank: 46
    N C P D Federal Credit Union
    Similarity Rank: 126
    Columbia Bank
    Similarity Rank: 156
    GREATER ALLIANCE
    Similarity Rank: 168
    Blue Foundry Bank
    Similarity Rank: 188
    PCSB Bank
    Similarity Rank: 207
    LYONS MORTGAGE SERVICES, INC.
    Similarity Rank: 267
    Liberty Bank for Savings
    Similarity Rank: 279

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    HELOC 824 $94,810,000 $115,061 n/a 11.20%
    Conventional 26 $5,160,000 $198,462 $4,072 8.25%

    For 2023, Quorum Federal Credit Union's most frequently originated type of loan was HELOC, with 824 originations. Their 2nd most popular type was Conventional, with 26 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Cash Out Refi 785 $90,155,000 $114,847 $3,450 11.16%
    Home Purchase 47 $7,095,000 $150,957 $5,068 10.13%
    Refi 18 $2,720,000 $151,111 $0 11.28%

    For 2023, Quorum Federal Credit Union's most frequently cited loan purpose was Cash Out Refi, with 785 originations. The 2nd most popular reason was Home Purchase, with 47 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 790 $93,060,000 $117,797 $4,735 11.02%
    15 Year 50 $5,580,000 $111,600 $4,118 12.78%
    20 Year 7 $1,055,000 $150,714 $3,556 9.89%
    10 Year 3 $275,000 $91,667 $2,562 9.96%

    For 2023, Quorum Federal Credit Union's most frequently cited loan duration was 30 Year, with 790 originations. The 2nd most popular length was 15 Year, with 50 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $1k-2k 9 $1,015,000 $112,778
    $<1k 8 $2,220,000 $277,500
    $2k-3k 5 $905,000 $181,000
    $4k-5k 3 $765,000 $255,000
    $5k+ 1 $255,000 $255,000

    Quorum Federal Credit Union's average total fees were $4,735, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 9 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    Over 8% 836 $95,880,000 $114,689
    6-7% 7 $2,075,000 $296,429
    5-6% 4 $870,000 $217,500
    7-8% 3 $1,145,000 $381,667

    During 2023, Quorum Federal Credit Union's average interest rate for loans was 11.02%, while their most frequently originated rate bucket for loans was Over 8%, with 836 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 409 $25,085,000 $61,333 $2,462 11.53%
    $100k-200k 297 $39,115,000 $131,700 $4,259 10.90%
    $200k-400k 141 $34,455,000 $244,362 $5,218 10.39%
    $400k-600k 3 $1,315,000 $438,333 $5,960 8.08%

    2023 saw Quorum Federal Credit Union place emphasis on $100,000 or less loans with 409 originations, totaling $25,085,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $150k-250k 277 $35,645,000 $128,682 $4,910 11.11%
    $100k-150k 222 $22,300,000 $100,450 $3,673 10.99%
    $250k+ 163 $29,055,000 $178,252 $4,826 11.09%
    $75k-100k 121 $8,605,000 $71,116 $2,465 11.40%
    $50k-75k 60 $3,910,000 $65,167 $4,259 11.15%
    $50k or less 7 $455,000 $65,000 $0 10.18%

    Quorum Federal Credit Union lent most frequently to those with incomes in the $150k-250k range, with 277 originations. The second most popular income band? $100k-150k, with 222 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    30-36% 189 $22,075,000 $116,799 $4,130 11.26%
    20-30% 154 $18,350,000 $119,156 $4,572 10.91%
    42% 112 $11,900,000 $106,250 $3,340 11.57%
    41% 64 $7,710,000 $120,469 $0 11.43%
    37% 53 $5,855,000 $110,472 $0 11.16%
    39% 49 $6,075,000 $123,980 $2,259 11.12%
    40% 46 $6,030,000 $131,087 $4,561 11.15%
    44% 44 $4,620,000 $105,000 $2,439 10.48%
    38% 43 $4,685,000 $108,953 $3,031 11.12%
    36% 36 $4,390,000 $121,944 $4,246 10.84%
    43% 29 $3,635,000 $125,345 $0 10.32%
    <20% 27 $4,025,000 $149,074 $0 10.66%
    45% 4 $620,000 $155,000 $0 9.94%

    Quorum Federal Credit Union lent most frequently to those with DTI ratios of 30-36%, with 189 originations. The next most common DTI ratio? 20-30%, with 154 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 569 $68,355,000 $120,132 $3,960 11.06%
    Not provided 203 $23,145,000 $114,015 $4,519 11.16%
    Black 48 $4,750,000 $98,958 $5,189 11.39%
    Asian 24 $2,980,000 $124,167 $0 11.18%
    American Indian 5 $595,000 $119,000 $0 11.43%
    Other Pacific Islander 1 $145,000 $145,000 $0 10.50%

    Approval Rates

    Total approvals of all applications
    59.77%

    Quorum Federal Credit Union has a low approval rate. They may have poor market targeting or stringent lending standards.

    Pick Rate

    Approvals leading to origination
    64.35%

    Quorum 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 850 $99,970,000 $117,612

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    850 $99,970,000 $117,612

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 280 $41,690,000 $148,893 $3,538 10.99%
    40-60% 17 $3,355,000 $197,353 $5,478 10.04%
    60-80% 14 $3,300,000 $235,714 $4,940 9.87%
    80-100% 5 $1,425,000 $285,000 $4,644 7.83%
    Under 20% 534 $50,200,000 $94,007 $2,652 11.27%