Quorum Federal Credit Union Mortgage Rates, Fees & Info
Harrison, NYLEI: 549300Q50XCC0473FG63
Tax ID: 13-1517541
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% | 4/18/24 |
| 30 Year Conventional Purchase | 6.78% | 4/18/24 |
| 30 Year Conventional Refi | 6.30% | 4/18/24 |
| 30 Year Cash-out Refi | 7.65% | 4/18/24 |
| 15 Year Conventional Purchase | 5.97% | 4/18/24 |
| 15 Year Conventional Refi | 5.63% | 4/18/24 |
| 15 Year Cash-out Refi | 5.63% | 4/18/24 |
| 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
850Origination Dollar Volume (All Markets)
$99,970,000Relative 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% |
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.
Similarity Rank: 46
Similarity Rank: 126
Similarity Rank: 156
Similarity Rank: 158
Similarity Rank: 168
Similarity Rank: 188
Similarity Rank: 207
Similarity Rank: 209
Similarity Rank: 267
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
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
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
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
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
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
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
Approval Rates
Total approvals of all applications59.77%
Quorum Federal Credit Union has a low approval rate. They may have poor market targeting or stringent lending standards.
Pick Rate
Approvals leading to origination64.35%
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 |