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 Refi, Home Purchase, and Cash Out Refi loans. Proponent Federal Credit Union has a high proportion of conventional loans. Their top markets by origination volume include: New York, San Francisco, Burlington, Boston, and Greensboro among others. We have data for 54 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% | 4/28/24 |
| 30 Year Conventional Purchase | 10.68% | 4/28/24 |
| 30 Year Conventional Refi | 10.19% | 4/28/24 |
| 30 Year Cash-out Refi | 10.14% | 4/28/24 |
| 15 Year Conventional Purchase | 9.27% | 4/28/24 |
| 15 Year Conventional Refi | 7.15% | 4/28/24 |
| 15 Year Cash-out Refi | 7.15% | 4/28/24 |
| 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
354Origination Dollar Volume (All Markets)
$64,950,000Awards
PROPONENT Federal Credit Union - 2019
PROPONENT Federal Credit Union is a 2019 , due to their low .
For 2019, 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) | 180 | $32,170,000 | $178,722 | $2,240 | 4.23% |
| San Francisco-Oakland-Berkeley, CA (FHA|USDA|VA) | 9 | $7,325,000 | $813,889 | $3,142 | 3.60% |
| BURLINGTON, NC (FHA|USDA|VA) | 54 | $5,840,000 | $108,148 | $1,554 | 4.11% |
| Boston-Cambridge-Newton, MA-NH (FHA|USDA|VA) | 3 | $1,705,000 | $568,333 | $3,954 | 3.13% |
| GREENSBORO-HIGH POINT, NC (FHA|USDA|VA) | 19 | $1,595,000 | $83,947 | $1,453 | 4.16% |
| RALEIGH-CARY, NC (FHA|USDA|VA) | 6 | $1,550,000 | $258,333 | $3,263 | 3.94% |
| North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) | 2 | $860,000 | $430,000 | $5,604 | 3.31% |
| MYRTLE BEACH-CONWAY-NORTH MYRTLE BEACH, SC-NC (FHA|USDA|VA) | 5 | $805,000 | $161,000 | $3,519 | 3.73% |
| Philadelphia-Camden-Wilmington, PA-NJ-DE-MD (FHA|USDA|VA) | 6 | $770,000 | $128,333 | $1,611 | 3.98% |
| BREMERTON-SILVERDALE-PORT ORCHARD, WA (FHA|USDA|VA) | 1 | $655,000 | $655,000 | $5,917 | 3.63% |
| ST. LOUIS, MO-IL (FHA|USDA|VA) | 1 | $615,000 | $615,000 | $3,820 | 3.50% |
| SAN DIEGO-CHULA VISTA-CARLSBAD, CA (FHA|USDA|VA) | 1 | $615,000 | $615,000 | $3,226 | 3.63% |
| CHARLOTTE-CONCORD-GASTONIA, NC-SC (FHA|USDA|VA) | 5 | $615,000 | $123,000 | $2,325 | 4.35% |
| Los Angeles-Long Beach-Anaheim, CA (FHA|USDA|VA) | 1 | $585,000 | $585,000 | $4,482 | 3.38% |
| DURHAM-CHAPEL HILL, NC (FHA|USDA|VA) | 4 | $560,000 | $140,000 | $1,668 | 4.28% |
| Washington-Arlington-Alexandria, DC-VA-MD-WV (FHA|USDA|VA) | 3 | $555,000 | $185,000 | $1,790 | 4.21% |
| SANTA ROSA-PETALUMA, CA (FHA|USDA|VA) | 1 | $525,000 | $525,000 | $3,431 | 4.13% |
| WINSTON-SALEM, NC (FHA|USDA|VA) | 3 | $495,000 | $165,000 | $2,728 | 5.46% |
| JACKSONVILLE, FL (FHA|USDA|VA) | 1 | $495,000 | $495,000 | $4,608 | 3.63% |
| ATLANTA-SANDY SPRINGS-ALPHARETTA, GA (FHA|USDA|VA) | 3 | $405,000 | $135,000 | $1,413 | 4.50% |
| LANCASTER, PA (FHA|USDA|VA) | 1 | $405,000 | $405,000 | $6,920 | 3.50% |
| ALLENTOWN-BETHLEHEM-EASTON, PA-NJ (FHA|USDA|VA) | 5 | $385,000 | $77,000 | $986 | 4.15% |
| OCEAN CITY, NJ (FHA|USDA|VA) | 2 | $380,000 | $190,000 | $3,256 | 3.69% |
| Dallas-Fort Worth-Arlington, TX (FHA|USDA|VA) | 1 | $345,000 | $345,000 | $3,264 | 3.00% |
| LEXINGTON-FAYETTE, KY (FHA|USDA|VA) | 1 | $325,000 | $325,000 | $4,024 | 3.38% |
| INDIANAPOLIS-CARMEL-ANDERSON, IN (FHA|USDA|VA) | 1 | $315,000 | $315,000 | $2,454 | 3.00% |
| HUNTSVILLE, AL (FHA|USDA|VA) | 1 | $295,000 | $295,000 | $3,603 | 3.38% |
| Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) | 3 | $285,000 | $95,000 | $466 | 4.25% |
| PITTSBURGH, PA (FHA|USDA|VA) | 2 | $270,000 | $135,000 | $3,241 | 3.00% |
| ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) | 1 | $265,000 | $265,000 | $6,190 | 3.50% |
| BRIDGEPORT-STAMFORD-NORWALK, CT (FHA|USDA|VA) | 2 | $260,000 | $130,000 | $477 | 5.00% |
| LAS VEGAS-HENDERSON-PARADISE, NV (FHA|USDA|VA) | 2 | $260,000 | $130,000 | $2,257 | 4.06% |
| MINNEAPOLIS-ST. PAUL-BLOOMINGTON, MN-WI (FHA|USDA|VA) | 1 | $245,000 | $245,000 | $3,529 | 2.88% |
| PORT ST. LUCIE, FL (FHA|USDA|VA) | 1 | $215,000 | $215,000 | $4,367 | 3.50% |
| Jefferson, GA (FHA|USDA|VA) | 1 | $205,000 | $205,000 | $5,119 | 3.63% |
| WILMINGTON, NC (FHA|USDA|VA) | 1 | $165,000 | $165,000 | $2,930 | 3.63% |
| Outside of Metro Areas | 3 | $155,000 | $51,667 | $1,324 | 4.17% |
| HOUSTON-THE WOODLANDS-SUGAR LAND, TX (FHA|USDA|VA) | 1 | $155,000 | $155,000 | $3,711 | 3.50% |
| POUGHKEEPSIE-NEWBURGH-MIDDLETOWN, NY (FHA|USDA|VA) | 1 | $135,000 | $135,000 | $666 | 4.25% |
| DENVER-AURORA-LAKEWOOD, CO (FHA|USDA|VA) | 1 | $135,000 | $135,000 | $466 | 4.63% |
| LAKELAND-WINTER HAVEN, FL (FHA|USDA|VA) | 1 | $135,000 | $135,000 | $3,526 | 3.00% |
| AKRON, OH (FHA|USDA|VA) | 1 | $125,000 | $125,000 | $2,552 | 3.50% |
| Troy, AL (FHA|USDA|VA) | 1 | $125,000 | $125,000 | $3,124 | 4.38% |
| FAYETTEVILLE, NC (FHA|USDA|VA) | 1 | $115,000 | $115,000 | $3,045 | 3.50% |
| OXNARD-THOUSAND OAKS-VENTURA, CA (FHA|USDA|VA) | 1 | $105,000 | $105,000 | $566 | 4.25% |
| COLUMBUS, OH (FHA|USDA|VA) | 1 | $85,000 | $85,000 | $466 | 4.75% |
| FLORENCE, SC (FHA|USDA|VA) | 1 | $85,000 | $85,000 | $3,245 | 3.88% |
| Detroit-Warren-Dearborn, MI (FHA|USDA|VA) | 1 | $55,000 | $55,000 | $2,408 | 3.50% |
| PHOENIX-MESA-CHANDLER, AZ (FHA|USDA|VA) | 1 | $45,000 | $45,000 | $466 | 5.13% |
| GREENVILLE, NC (FHA|USDA|VA) | 1 | $35,000 | $35,000 | $442 | 3.88% |
| NEW BERN, NC (FHA|USDA|VA) | 1 | $35,000 | $35,000 | $442 | 5.00% |
| CHARLESTON, WV (FHA|USDA|VA) | 1 | $25,000 | $25,000 | $992 | 6.50% |
| Zanesville, OH (FHA|USDA|VA) | 1 | $25,000 | $25,000 | $466 | 3.50% |
| TRENTON-PRINCETON, NJ (FHA|USDA|VA) | 1 | $15,000 | $15,000 | $231 | 5.50% |
Their top states include:
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Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 354 | $64,950,000 | $183,475 | $2,182 | 4.13% |
For 2019, Proponent Federal Credit Union's most frequently originated type of loan was Conventional, with 354 originations.
Loan Reason
For 2019, Proponent Federal Credit Union's most frequently cited loan purpose was Refi, with 89 originations. The 2nd most popular reason was Home Purchase, with 75 originations.
Loan Duration/Length
For 2019, Proponent Federal Credit Union's most frequently cited loan duration was 30 Year, with 119 originations. The 2nd most popular length was 15 Year, with 84 originations.
Origination Fees/Closing Costs
Proponent Federal Credit Union's average total fees were $4,425, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 268 originations.
Interest Rates
During 2019, Proponent Federal Credit Union's average interest rate for loans was 3.65%, while their most frequently originated rate bucket for loans was 3-4%, with 172 originations.
Loan Sizing
2019 saw Proponent Federal Credit Union place emphasis on $100,000 or less loans with 150 originations, totaling $7,960,000 in origination value.
Applicant Income
Proponent Federal Credit Union lent most frequently to those with incomes in the $100k-150k range, with 104 originations. The second most popular income band? $150k-250k, with 84 originations.
Applicant Debt to Income Ratio
Proponent Federal Credit Union lent most frequently to those with DTI ratios of 20-30%, with 91 originations. The next most common DTI ratio? 30-36%, with 72 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications78.94%
Proponent Federal Credit Union has a below average approval rate.
Pick Rate
Approvals leading to origination55.08%
Proponent 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 | 354 | $64,950,000 | $183,475 |
Occupancy Type Mix
| Dwelling Type | Originations | Total Value | Average Loan |
|---|---|---|---|
| Single Family (1-4 Units):Manufactured | 5 | $205,000 | $41,000 |
| Single Family (1-4 Units):Site-Built | 349 | $64,745,000 | $185,516 |