Naveo Credit Union Mortgage Rates, Fees & Info

Somerville, MA

LEI: 549300S9FKL431GGXZ11

Tax ID: 04-1144988

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

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Mortgage Data

  • Originations
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • Loan Length
  • Loan to Value Info
  • Debt-to-Income
  • Applicant Income
  • Ethnicity Info
  • Approval & Pick Rates
  • Points and Fees
  • Origination Fees (Closing Costs)

    • Review & Overview

    Naveo Credit Union is a smaller credit union specializing in Home Improvement, 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, Barnstable Town, Manchester, Providence, and Worcester among others. We have data for 5 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Naveo 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.

    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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    Originations

    61

    Origination Dollar Volume (All Markets)

    $17,645,000

    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
    Boston-Cambridge-Newton, MA-NH (FHA|USDA|VA) 55 $16,435,000 $298,818 $0 0.00%
    BARNSTABLE TOWN, MA (FHA|USDA|VA) 2 $540,000 $270,000 $0 0.00%
    MANCHESTER-NASHUA, NH (FHA|USDA|VA) 1 $385,000 $385,000 $0 0.00%
    PROVIDENCE-WARWICK, RI-MA (FHA|USDA|VA) 1 $215,000 $215,000 $0 0.00%
    WORCESTER, MA-CT (FHA|USDA|VA) 2 $70,000 $35,000 $0 0.00%
    Naveo Credit Union's top markets include Boston, Barnstable Town, Manchester, Providence, and Worcester among others.

    Their top states include:
  • Massachusetts (FHA|USDA|VA)
  • New Hampshire (FHA|USDA|VA)

    • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 61 $17,645,000 $289,262 $0 0.00%

    For 2018, Naveo Credit Union's most frequently originated type of loan was Conventional, with 61 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Improvement 26 $4,470,000 $171,923 $0 0.00%
    Home Purchase 17 $7,255,000 $426,765 $0 0.00%
    Cash Out Refi 14 $5,150,000 $367,857 $0 0.00%
    Other 2 $370,000 $185,000 $0 0.00%
    Refi 2 $400,000 $200,000 $0 0.00%

    For 2018, Naveo Credit Union's most frequently cited loan purpose was Home Improvement, with 26 originations. The 2nd most popular reason was Home Purchase, with 17 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 61 $17,645,000 $289,262 $0 0.00%

    For 2018, Naveo Credit Union's most frequently cited loan duration was Other, with 61 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 27 $1,065,000 $39,444 $0 0.00%
    $200k-400k 16 $4,680,000 $292,500 $0 0.00%
    $100k-200k 5 $705,000 $141,000 $0 0.00%
    $400k-600k 5 $2,515,000 $503,000 $0 0.00%
    $1MM+ 4 $6,090,000 $1,522,500 $0 0.00%
    $600k-1MM 4 $2,590,000 $647,500 $0 0.00%

    2018 saw Naveo Credit Union place emphasis on $100,000 or less loans with 27 originations, totaling $1,065,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 19 $3,995,000 $210,263 $0 0.00%
    $150k-250k 15 $5,785,000 $385,667 $0 0.00%
    $75k-100k 12 $1,930,000 $160,833 $0 0.00%
    $250k+ 6 $3,480,000 $580,000 $0 0.00%
    $50k-75k 4 $2,010,000 $502,500 $0 0.00%
    $50k or less 3 $95,000 $31,667 $0 0.00%

    Naveo Credit Union lent most frequently to those with incomes in the $100k-150k range, with 19 originations. The second most popular income band? $150k-250k, with 15 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 61 $17,645,000 $289,262 $0 0.00%

    Naveo Credit Union lent most frequently to those with DTI ratios of Exempt%, with 61 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 44 $14,550,000 $330,682 $0 0.00%
    Not provided 7 $2,015,000 $287,857 $0 0.00%
    Asian 5 $655,000 $131,000 $0 0.00%
    Black 5 $425,000 $85,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    84.04%

    Naveo Credit Union has a below average approval rate.

    Pick Rate

    Approvals leading to origination
    72.13%

    Naveo Credit Union has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 61 $17,645,000 $289,262

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Site-Built 3 $2,255,000 $751,667
    Single Family (1-4 Units):Site-Built 58 $15,390,000 $265,345