Proponent Federal Credit Union Mortgage Rates, Fees & Info
Nutley, NJLEI: 549300SI3EZ7U02L5E39
Tax ID: 23-7092063
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Mortgage Data
Review & Overview
Proponent Federal Credit Union is a smaller credit union specializing in Home Purchase loans. Proponent Federal Credit Union has a high proportion of conventional loans. Their top markets by origination volume include: New York, Burlington, San Francisco, Los Angeles, and Raleigh among others. We have data for 43 markets. (Some data included below & more in-depth data is available with an active subscription.)Proponent 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. Proponent 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 about average 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.
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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| Home Equity Line of Credit (HELOC) | 0.71% | 12/16/24 |
| 30 Year Conventional Purchase | 10.68% | 12/16/24 |
| 30 Year Conventional Refi | 10.19% | 12/16/24 |
| 30 Year Cash-out Refi | 10.14% | 12/16/24 |
| 15 Year Conventional Purchase | 9.27% | 12/16/24 |
| 15 Year Conventional Refi | 7.15% | 12/16/24 |
| 15 Year Cash-out Refi | 7.15% | 12/16/24 |
| 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. | ||
Proponent Federal Credit Union Mortgage Calculator
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
314Origination Dollar Volume (All Markets)
$56,810,000Awards
PROPONENT Federal Credit Union - 2018
PROPONENT Federal Credit Union is a 2018 , due to their low .
For 2018, less than of lenders were eligible for this award.
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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) | 170 | $32,400,000 | $190,588 | $2,146 | 4.60% |
| BURLINGTON, NC (FHA|USDA|VA) | 41 | $4,195,000 | $102,317 | $1,307 | 4.56% |
| San Francisco-Oakland-Berkeley, CA (FHA|USDA|VA) | 5 | $2,645,000 | $529,000 | $2,447 | 4.05% |
| Los Angeles-Long Beach-Anaheim, CA (FHA|USDA|VA) | 4 | $1,860,000 | $465,000 | $3,079 | 3.72% |
| RALEIGH-CARY, NC (FHA|USDA|VA) | 8 | $1,650,000 | $206,250 | $2,012 | 4.41% |
| Philadelphia-Camden-Wilmington, PA-NJ-DE-MD (FHA|USDA|VA) | 5 | $1,255,000 | $251,000 | $3,146 | 4.60% |
| DURHAM-CHAPEL HILL, NC (FHA|USDA|VA) | 10 | $1,200,000 | $120,000 | $1,489 | 4.63% |
| Boston-Cambridge-Newton, MA-NH (FHA|USDA|VA) | 4 | $1,130,000 | $282,500 | $3,146 | 4.34% |
| SANTA ROSA-PETALUMA, CA (FHA|USDA|VA) | 1 | $1,065,000 | $1,065,000 | $4,866 | 3.13% |
| ALLENTOWN-BETHLEHEM-EASTON, PA-NJ (FHA|USDA|VA) | 8 | $920,000 | $115,000 | $1,596 | 4.50% |
| GREENSBORO-HIGH POINT, NC (FHA|USDA|VA) | 9 | $855,000 | $95,000 | $1,513 | 4.57% |
| Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) | 4 | $700,000 | $175,000 | $3,395 | 4.38% |
| Outside of Metro Areas | 5 | $615,000 | $123,000 | $3,289 | 4.75% |
| OCEAN CITY, NJ (FHA|USDA|VA) | 2 | $480,000 | $240,000 | $4,434 | 4.31% |
| NAPA, CA (FHA|USDA|VA) | 1 | $475,000 | $475,000 | $3,902 | 4.38% |
| POUGHKEEPSIE-NEWBURGH-MIDDLETOWN, NY (FHA|USDA|VA) | 1 | $455,000 | $455,000 | $8,721 | 4.50% |
| HILTON HEAD ISLAND-BLUFFTON, SC (FHA|USDA|VA) | 1 | $425,000 | $425,000 | $3,819 | 4.50% |
| SALISBURY, MD-DE (FHA|USDA|VA) | 2 | $410,000 | $205,000 | $3,137 | 4.00% |
| TRENTON-PRINCETON, NJ (FHA|USDA|VA) | 2 | $370,000 | $185,000 | $378 | 5.63% |
| ASHEVILLE, NC (FHA|USDA|VA) | 1 | $345,000 | $345,000 | $4,645 | 4.00% |
| LAS VEGAS-HENDERSON-PARADISE, NV (FHA|USDA|VA) | 1 | $325,000 | $325,000 | $7,592 | 4.50% |
| WORCESTER, MA-CT (FHA|USDA|VA) | 1 | $285,000 | $285,000 | $3,308 | 4.50% |
| SAN DIEGO-CHULA VISTA-CARLSBAD, CA (FHA|USDA|VA) | 1 | $255,000 | $255,000 | $588 | 4.88% |
| MINNEAPOLIS-ST. PAUL-BLOOMINGTON, MN-WI (FHA|USDA|VA) | 1 | $235,000 | $235,000 | $3,731 | 3.13% |
| OGDEN-CLEARFIELD, UT (FHA|USDA|VA) | 1 | $235,000 | $235,000 | $3,220 | 4.38% |
| MYRTLE BEACH-CONWAY-NORTH MYRTLE BEACH, SC-NC (FHA|USDA|VA) | 3 | $215,000 | $71,667 | $1,622 | 5.38% |
| FRESNO, CA (FHA|USDA|VA) | 1 | $195,000 | $195,000 | $2,615 | 4.25% |
| EAST STROUDSBURG, PA (FHA|USDA|VA) | 2 | $190,000 | $95,000 | $2,956 | 4.06% |
| ATLANTA-SANDY SPRINGS-ALPHARETTA, GA (FHA|USDA|VA) | 1 | $185,000 | $185,000 | $3,667 | 4.50% |
| TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) | 4 | $150,000 | $37,500 | $652 | 4.84% |
| Shelby, NC (FHA|USDA|VA) | 1 | $145,000 | $145,000 | $4,493 | 4.88% |
| ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) | 1 | $145,000 | $145,000 | $2,891 | 4.50% |
| North Wilkesboro, NC (FHA|USDA|VA) | 1 | $125,000 | $125,000 | $442 | 5.38% |
| WILMINGTON, NC (FHA|USDA|VA) | 2 | $110,000 | $55,000 | $442 | 5.00% |
| KNOXVILLE, TN (FHA|USDA|VA) | 1 | $95,000 | $95,000 | $2,507 | 3.88% |
| NEW BERN, NC (FHA|USDA|VA) | 1 | $85,000 | $85,000 | $2,462 | 4.50% |
| Jefferson, GA (FHA|USDA|VA) | 1 | $75,000 | $75,000 | $38 | 5.38% |
| BRIDGEPORT-STAMFORD-NORWALK, CT (FHA|USDA|VA) | 1 | $75,000 | $75,000 | $442 | 4.38% |
| SAVANNAH, GA (FHA|USDA|VA) | 1 | $55,000 | $55,000 | $442 | 5.38% |
| FLORENCE, SC (FHA|USDA|VA) | 1 | $55,000 | $55,000 | $442 | 6.63% |
| LOUISVILLE, KY (FHA|USDA|VA) | 1 | $55,000 | $55,000 | $442 | 3.88% |
| BIRMINGHAM-HOOVER, AL (FHA|USDA|VA) | 1 | $45,000 | $45,000 | $542 | 6.38% |
| HARTFORD-EAST HARTFORD-MIDDLETOWN, CT (FHA|USDA|VA) | 1 | $25,000 | $25,000 | $488 | 5.63% |
Their top states include:
Similar Lenders
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Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 314 | $56,810,000 | $180,924 | $2,076 | 4.57% |
For 2018, Proponent Federal Credit Union's most frequently originated type of loan was Conventional, with 314 originations.
Loan Reason
For 2018, Proponent Federal Credit Union's most frequently cited loan purpose was Home Purchase, with 95 originations. The 2nd most popular reason was Refi, with 78 originations.
Loan Duration/Length
For 2018, Proponent Federal Credit Union's most frequently cited loan duration was 30 Year, with 110 originations. The 2nd most popular length was 15 Year, with 73 originations.
Origination Fees/Closing Costs
Proponent Federal Credit Union's average total fees were $4,462, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 254 originations.
Interest Rates
During 2018, Proponent Federal Credit Union's average interest rate for loans was 4.14%, while their most frequently originated rate bucket for loans was 4-5%, with 155 originations.
Loan Sizing
2018 saw Proponent Federal Credit Union place emphasis on $100,000 or less loans with 138 originations, totaling $6,430,000 in origination value.
Applicant Income
Proponent Federal Credit Union lent most frequently to those with incomes in the $100k-150k range, with 97 originations. The second most popular income band? $150k-250k, with 71 originations.
Applicant Debt to Income Ratio
Proponent Federal Credit Union lent most frequently to those with DTI ratios of 20-30%, with 81 originations. The next most common DTI ratio? 30-36%, with 53 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications84.70%
Proponent Federal Credit Union has a below average approval rate.
Pick Rate
Approvals leading to origination72.29%
Proponent Federal Credit Union has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 314 | $56,810,000 | $180,924 |
Occupancy Type Mix
| Dwelling Type | Originations | Total Value | Average Loan |
|---|---|---|---|
| Single Family (1-4 Units):Manufactured | 3 | $215,000 | $71,667 |
| Single Family (1-4 Units):Site-Built | 311 | $56,595,000 | $181,977 |