Naveo Credit Union Mortgage Rates, Fees & Info
Somerville, MALEI: 549300S9FKL431GGXZ11
Tax ID: 04-1144988
Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data
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Mortgage Data
Review & Overview
Naveo Credit Union is a smaller credit union specializing in Home Purchase and Cash Out Refi loans. Naveo Credit Union has a high proportion of conventional loans. Their top markets by origination volume include: Boston, Providence, and Barnstable Town among others. We have data for 3 markets. (Some data included below & more in-depth data is available with an active subscription.)Naveo Credit Union has an above average approval rate when compared to the average across all lenders. They have a below average pick rate when compared to similar lenders.
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Originations
46Origination Dollar Volume (All Markets)
$18,720,000Top 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 |
|---|---|---|---|---|---|
| Boston-Cambridge-Newton, MA-NH (FHA|USDA|VA) | 40 | $15,910,000 | $397,750 | $0 | 0.00% |
| PROVIDENCE-WARWICK, RI-MA (FHA|USDA|VA) | 5 | $2,555,000 | $511,000 | $0 | 0.00% |
| BARNSTABLE TOWN, MA (FHA|USDA|VA) | 1 | $255,000 | $255,000 | $0 | 0.00% |
Their top states include:
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 46 | $18,720,000 | $406,957 | $0 | 0.00% |
For 2023, Naveo Credit Union's most frequently originated type of loan was Conventional, with 46 originations.
Loan Reason
For 2023, Naveo Credit Union's most frequently cited loan purpose was Home Purchase, with 15 originations. The 2nd most popular reason was Other, with 11 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Other | 46 | $18,720,000 | $406,957 | $0 | 0.00% |
For 2023, Naveo Credit Union's most frequently cited loan duration was Other, with 46 originations.
Loan Sizing
2023 saw Naveo Credit Union place emphasis on $100,000 or less loans with 11 originations, totaling $655,000 in origination value.
Applicant Income
Naveo Credit Union lent most frequently to those with incomes in the $150k-250k range, with 12 originations. The second most popular income band? $100k-150k, with 11 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Exempt% | 46 | $18,720,000 | $406,957 | $0 | 0.00% |
Naveo Credit Union lent most frequently to those with DTI ratios of Exempt%, with 46 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications93.22%
Naveo Credit Union has an average approval rate.
Pick Rate
Approvals leading to origination84.78%
Naveo Credit Union has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| Exempt | 46 | $18,720,000 | $406,957 |