Constellation Federal Credit Union Mortgage Rates, Fees & Info

RESTON, VA

LEI: 549300T58RU2SJK44R29

Tax ID: 53-0192111

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

    Constellation Federal Credit Union is a smaller credit union specializing in Home Improvement and Home Purchase loans. Constellation Federal Credit Union has a high proportion of conventional loans. Their top markets by origination volume include: Washington, Baltimore, Louisville, Virginia Beach, and Salisbury among others. We have data for 20 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Constellation Federal Credit Union has an average approval rate when compared to the average across all lenders. They have an above average pick rate when compared to similar lenders. Constellation 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 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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    Originations

    83

    Origination Dollar Volume (All Markets)

    $13,095,000

    Awards

    Constellation Federal Credit Union 30 Year Conventional Loans gold
    Show all (1) awards

    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
    Washington-Arlington-Alexandria, DC-VA-MD-WV (FHA|USDA|VA) 57 $9,535,000 $167,281 $5,302 4.45%
    BALTIMORE-COLUMBIA-TOWSON, MD (FHA|USDA|VA) 3 $455,000 $151,667 $4,127 5.76%
    LOUISVILLE, KY (FHA|USDA|VA) 1 $375,000 $375,000 $2,137 3.50%
    VIRGINIA BEACH-NORFOLK-NEWPORT NEWS, VA-NC (FHA|USDA|VA) 2 $310,000 $155,000 $3,216 4.25%
    SALISBURY, MD-DE (FHA|USDA|VA) 1 $285,000 $285,000 $0 4.05%
    ST. LOUIS, MO-IL (FHA|USDA|VA) 1 $255,000 $255,000 $2,702 4.63%
    Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) 1 $255,000 $255,000 $0 5.00%
    ALBANY-SCHENECTADY-TROY, NY (FHA|USDA|VA) 1 $225,000 $225,000 $9,109 4.50%
    NASHVILLE-DAVIDSON-MURFREESBORO-FRANKLIN, TN (FHA|USDA|VA) 2 $220,000 $110,000 $2,573 4.56%
    COLORADO SPRINGS, CO (FHA|USDA|VA) 1 $205,000 $205,000 $4,275 3.88%
    Outside of Metro Areas 3 $195,000 $65,000 $1,251 4.08%
    Philadelphia-Camden-Wilmington, PA-NJ-DE-MD (FHA|USDA|VA) 1 $195,000 $195,000 $0 4.25%
    LYNCHBURG, VA (FHA|USDA|VA) 2 $170,000 $85,000 $1,590 4.83%
    CALIFORNIA-LEXINGTON PARK, MD (FHA|USDA|VA) 1 $115,000 $115,000 $1,601 4.25%
    MINNEAPOLIS-ST. PAUL-BLOOMINGTON, MN-WI (FHA|USDA|VA) 1 $75,000 $75,000 $150 4.49%
    HAGERSTOWN-MARTINSBURG, MD-WV (FHA|USDA|VA) 1 $65,000 $65,000 $0 5.99%
    BEND, OR (FHA|USDA|VA) 1 $65,000 $65,000 $236 5.74%
    WORCESTER, MA-CT (FHA|USDA|VA) 1 $35,000 $35,000 $0 4.50%
    Dallas-Fort Worth-Arlington, TX (FHA|USDA|VA) 1 $35,000 $35,000 $0 4.50%
    FAYETTEVILLE, NC (FHA|USDA|VA) 1 $25,000 $25,000 $0 3.49%
    Constellation Federal Credit Union's top markets include Washington, Baltimore, Louisville, Virginia Beach, and Salisbury among others.

    Their top states include:
  • Virginia (FHA|USDA|VA)
  • Maryland (FHA|USDA|VA)
  • Kentucky (FHA|USDA|VA)
  • Delaware (FHA|USDA|VA)
  • Florida (FHA|USDA|VA)

    • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 52 $8,320,000 $160,000 $3,750 4.57%
    HELOC 31 $4,775,000 $154,032 n/a 4.37%

    For 2018, Constellation Federal Credit Union's most frequently originated type of loan was Conventional, with 52 originations. Their 2nd most popular type was HELOC, with 31 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Improvement 36 $3,530,000 $98,056 $2,108 4.51%
    Home Purchase 22 $4,690,000 $213,182 $4,063 4.43%
    Refi 18 $2,420,000 $134,444 $3,598 4.69%
    Cash Out Refi 6 $2,310,000 $385,000 $2,634 4.19%
    Other 1 $145,000 $145,000 $0 4.05%

    For 2018, Constellation Federal Credit Union's most frequently cited loan purpose was Home Improvement, with 36 originations. The 2nd most popular reason was Home Purchase, with 22 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    20 Year 43 $6,025,000 $140,116 $985 4.62%
    30 Year 16 $4,820,000 $301,250 $5,378 3.99%
    15 Year 7 $555,000 $79,286 $193 5.76%
    Other 7 $1,145,000 $163,571 $2,573 4.19%
    5 Year 5 $205,000 $41,000 $0 3.34%
    10 Year 4 $260,000 $65,000 $0 5.12%
    1 Year 1 $85,000 $85,000 $0 3.99%

    For 2018, Constellation Federal Credit Union's most frequently cited loan duration was 20 Year, with 43 originations. The 2nd most popular length was 30 Year, with 16 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $1k-2k 1 $145,000 $145,000
    $2k-3k 1 $265,000 $265,000
    $4k-5k 1 $405,000 $405,000

    Constellation Federal Credit Union's average total fees were $5,378, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 1 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    4-5% 44 $6,970,000 $158,409
    3-4% 23 $4,325,000 $188,043
    5-6% 8 $700,000 $87,500
    6-7% 5 $295,000 $59,000
    2.5-3% 2 $100,000 $50,000
    <2.5% 1 $705,000 $705,000

    During 2018, Constellation Federal Credit Union's average interest rate for loans was 3.99%, while their most frequently originated rate bucket for loans was 4-5%, with 44 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 39 $1,965,000 $50,385 $583 4.68%
    $100k-200k 19 $2,525,000 $132,895 $4,074 4.63%
    $200k-400k 18 $4,830,000 $268,333 $5,673 4.23%
    $400k-600k 6 $3,070,000 $511,667 $4,812 4.06%
    $600k-1MM 1 $705,000 $705,000 $3,598 2.25%

    2018 saw Constellation Federal Credit Union place emphasis on $100,000 or less loans with 39 originations, totaling $1,965,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 23 $2,925,000 $127,174 $3,296 4.49%
    $150k-250k 20 $4,250,000 $212,500 $5,144 4.29%
    $50k-75k 12 $1,120,000 $93,333 $3,763 4.59%
    $50k or less 11 $995,000 $90,455 $1,139 4.76%
    $250k+ 10 $2,960,000 $296,000 $4,007 4.27%
    $75k-100k 7 $845,000 $120,714 $1,601 4.85%

    Constellation Federal Credit Union lent most frequently to those with incomes in the $100k-150k range, with 23 originations. The second most popular income band? $150k-250k, with 20 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    <20% 4 $1,600,000 $400,000 $2,329 4.13%

    Constellation Federal Credit Union lent most frequently to those with DTI ratios of <20%, with 4 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 64 $9,830,000 $153,594 $3,556 4.52%
    Asian 8 $2,180,000 $272,500 $3,471 3.96%
    Black 8 $510,000 $63,750 $0 4.96%
    Native Hawaiian or Islander 1 $245,000 $245,000 $0 4.00%
    Asian Indian 1 $225,000 $225,000 $9,109 4.50%
    Not provided 1 $105,000 $105,000 $0 4.25%

    Approval Rates

    Total approvals of all applications
    88.42%

    Constellation Federal Credit Union has an average approval rate.

    Pick Rate

    Approvals leading to origination
    98.80%

    Constellation Federal Credit Union has an exceptionally high pick rate. They most likely have borrower friendly terms or other characteristics like being fast to close or are easy to work with.

    Points and Fees

    Points Originations Total Value Average Loan
    0.0 1 $125,000 $125,000
    NA 82 $12,970,000 $158,171

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Single Family (1-4 Units):Site-Built 83 $13,095,000 $157,771

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 21 $2,915,000 $138,810 $0 4.49%
    40-60% 8 $1,490,000 $186,250 $2,376 4.20%
    60-80% 13 $4,975,000 $382,692 $5,097 4.09%
    80-100% 3 $1,035,000 $345,000 $4,167 3.92%
    Over 100% 1 $45,000 $45,000 $0 6.24%
    Under 20% 35 $2,095,000 $59,857 $1,972 4.76%