Nassau Educators Federal Credit Union Mortgage Rates, Fees & Info
Westbury, NYLEI: 549300T7DF901BR7V258
Tax ID: 11-1644859
2021 Data | 2020 Data | 2019 Data | 2018 Data
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Mortgage Data
Overview
Nassau Educators Federal Credit Union is a smaller credit union specializing in Home Improvement, Refi, and Cash Out Refi loans. Nassau Educators Federal Credit Union has a high proportion of conventional loans. Their top markets include New York, Poughkeepsie, Glens Falls, Miami, and Hudson among others. Nassau Educators Federal Credit Union has an average approval rate for mortages when compared nationally. They have a below average pick rate when compared to the same sample of other lendors. Nassau Educators Federal Credit Union is typically an average fee lendor.Originations
2,426Origination Dollar Volume (All Markets)
$608,770,000Awards
Nassau Educators Federal Credit Union - 2021
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For 2021, less than of lenders were eligible for this award.
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Relative Rate
Nassau Educators Federal Credit Union's average 30 year fixed rate mortgage of loans were
2.02%.
The 2021 average 30 year fixed rate mortgage across all markets of loans were 3.15%.
This yields a difference of -1.13%.
Relative Fees
Nassau Educators Federal Credit Union's average total fees for a 30 year fixed rate
mortgage are $4,355.
The average total origination fees for 30 year fixed rate mortgages (for all loan values, including
both points & up-front fees in addition to origination fees) are $4,750.
Top Markets
| Market | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| New York-Newark-Jersey City, NY-NJ-PA (FHA|USDA|VA) | 2,406 | $604,210,000 | $251,126 | $4,301 | 2.08% |
| POUGHKEEPSIE-NEWBURGH-MIDDLETOWN, NY (FHA|USDA|VA) | 5 | $1,225,000 | $245,000 | $4,746 | 2.09% |
| GLENS FALLS, NY (FHA|USDA|VA) | 1 | $505,000 | $505,000 | $0 | 0.99% |
| Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) | 1 | $445,000 | $445,000 | $3,325 | 2.75% |
| Outside of Metro Areas | 3 | $435,000 | $145,000 | $0 | 1.26% |
| Hudson, NY (FHA|USDA|VA) | 1 | $415,000 | $415,000 | $5,882 | 2.88% |
| Oneonta, NY (FHA|USDA|VA) | 1 | $355,000 | $355,000 | $4,195 | 3.00% |
| SYRACUSE, NY (FHA|USDA|VA) | 3 | $315,000 | $105,000 | $3,598 | 3.56% |
| BUFFALO-CHEEKTOWAGA, NY (FHA|USDA|VA) | 1 | $235,000 | $235,000 | $4,852 | 2.25% |
| KINGSTON, NY (FHA|USDA|VA) | 1 | $205,000 | $205,000 | $404 | 2.88% |
| Key West, FL (FHA|USDA|VA) | 1 | $185,000 | $185,000 | $3,857 | 2.50% |
| ITHACA, NY (FHA|USDA|VA) | 1 | $165,000 | $165,000 | $3,823 | 2.88% |
| ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) | 1 | $75,000 | $75,000 | $3,114 | 2.50% |
Nassau Educators Federal Credit Union's top markets include New York, Poughkeepsie, Glens Falls, Miami, and Hudson among others.
Product Mix
| Loan Type | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Conventional | 2,426 | $608,770,000 | $250,936 | $4,295 | 2.09% |
For the 2021 period, Nassau Educators Federal Credit Union's most frequently originated loan type of loans were Conventional, with 2,426 originations.
Loan Reason
| Loan Reason | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Home Improvement | 947 | $154,695,000 | $163,353 | $0 | 1.71% |
| Refi | 531 | $168,265,000 | $316,883 | $3,922 | 2.25% |
| Cash Out Refi | 419 | $168,455,000 | $402,041 | $4,452 | 2.81% |
| Other | 398 | $58,670,000 | $147,412 | $0 | 1.83% |
| Home Purchase | 131 | $58,685,000 | $447,977 | $4,757 | 2.62% |
For the 2021, Nassau Educators Federal Credit Union's most frequently cited loan purpose of loans were Home Improvement, with 947 originations. The 2nd most popular reason of loans were Refi, with 531 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| 30 Year | 2,125 | $504,105,000 | $237,226 | $4,355 | 2.02% |
| 15 Year | 170 | $56,660,000 | $333,294 | $3,954 | 2.43% |
| 20 Year | 106 | $41,170,000 | $388,396 | $4,642 | 2.74% |
| 10 Year | 20 | $4,790,000 | $239,500 | $3,562 | 2.39% |
| Other | 5 | $2,045,000 | $409,000 | $4,928 | 2.83% |
For the 2021, Nassau Educators Federal Credit Union's most frequently cited loan length of loans were 30 Year, with 2,125 originations. The 2nd most popular length of loans were 15 Year, with 170 originations.
Origination Fees
| Origination Fee | Originations | Total Value | Average Loan |
|---|---|---|---|
| $<1k | 517 | $198,655,000 | $384,246 |
| $1k-2k | 163 | $60,205,000 | $369,356 |
| $2k-3k | 72 | $33,180,000 | $460,833 |
| $3k-4k | 51 | $24,525,000 | $480,882 |
| $5k+ | 24 | $15,070,000 | $627,917 |
$4,355 of loans were Nassau Educators Federal Credit Union's average total fees, while their most frequently occuring range of origination fees were in the $<1k bucket, with 517 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| <2.5% | 1,624 | $316,440,000 | $194,852 |
| 2.5-3% | 578 | $228,150,000 | $394,723 |
| 3-4% | 214 | $63,250,000 | $295,561 |
| 5-6% | 6 | $490,000 | $81,667 |
| 4-5% | 3 | $165,000 | $55,000 |
During 2021, Nassau Educators Federal Credit Union's average interest rate of loans were 2.02%, while their most frequently originated rate bucket of loans were <2.5%, with 1,624 originations.
Loan Sizing
| Loan Size | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| $200k-400k | 761 | $221,135,000 | $290,585 | $3,787 | 2.21% |
| $100k-200k | 668 | $91,040,000 | $136,287 | $3,348 | 1.86% |
| $100,000 or less | 488 | $30,130,000 | $61,742 | $2,395 | 1.78% |
| $400k-600k | 424 | $201,690,000 | $475,684 | $4,638 | 2.41% |
| $600k-1MM | 75 | $52,345,000 | $697,933 | $5,953 | 2.84% |
| $1MM+ | 10 | $12,430,000 | $1,243,000 | $8,412 | 2.84% |
2021 saw Nassau Educators Federal Credit Union place emphasis on $200k-400k loans with 761 originations, totaling $221,135,000 in origination value.
Applicant Income
| Applicant Income | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| $150k-250k | 829 | $211,845,000 | $255,543 | $4,498 | 2.06% |
| $100k-150k | 760 | $181,090,000 | $238,276 | $4,046 | 2.14% |
| $250k+ | 382 | $131,260,000 | $343,613 | $4,928 | 2.02% |
| $75k-100k | 236 | $50,780,000 | $215,169 | $3,939 | 2.11% |
| $50k-75k | 138 | $23,770,000 | $172,246 | $3,668 | 2.13% |
| $50k or less | 64 | $7,120,000 | $111,250 | $3,621 | 1.96% |
Nassau Educators Federal Credit Union lent most frequently to those with incomes in the $150k-250k range, with 829 originations. The second most popular income band? $100k-150k, with 760 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| 20-30% | 545 | $135,855,000 | $249,275 | $4,373 | 2.07% |
| 30-36% | 427 | $111,955,000 | $262,190 | $4,441 | 2.14% |
| <20% | 258 | $53,180,000 | $206,124 | $3,683 | 1.92% |
| 50-60% | 108 | $25,730,000 | $238,241 | $3,770 | 1.54% |
| 44% | 105 | $24,695,000 | $235,190 | $4,483 | 2.07% |
| 37% | 92 | $21,440,000 | $233,043 | $4,405 | 2.27% |
| 42% | 86 | $22,080,000 | $256,744 | $4,102 | 2.17% |
| 36% | 79 | $20,825,000 | $263,608 | $4,608 | 2.18% |
| 39% | 79 | $20,645,000 | $261,329 | $4,383 | 2.16% |
| 38% | 79 | $18,595,000 | $235,380 | $3,848 | 2.22% |
| 47% | 78 | $20,140,000 | $258,205 | $3,810 | 1.99% |
| 41% | 76 | $20,540,000 | $270,263 | $4,196 | 2.35% |
| 49% | 75 | $21,155,000 | $282,067 | $3,983 | 2.07% |
| 40% | 75 | $19,585,000 | $261,133 | $4,757 | 2.18% |
| 45% | 73 | $18,835,000 | $258,014 | $4,126 | 2.10% |
| 43% | 70 | $18,000,000 | $257,143 | $4,000 | 2.15% |
| 46% | 54 | $15,880,000 | $294,074 | $4,852 | 2.26% |
| 48% | 50 | $15,060,000 | $301,200 | $4,467 | 2.23% |
| >60% | 15 | $4,055,000 | $270,333 | $915 | 2.00% |
Nassau Educators Federal Credit Union lent most frequently to those with DTI ratios of 20-30%, with 545 originations. The next most common DTI ratio? 30-36%, with 427 originations.
Ethnicity Mix
| Applicant Ethnicity | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| White | 1,753 | $438,015,000 | $249,866 | $4,249 | 2.07% |
| Not provided | 326 | $88,620,000 | $271,840 | $4,435 | 2.22% |
| Asian | 125 | $37,085,000 | $296,680 | $4,484 | 2.01% |
| Black | 168 | $31,500,000 | $187,500 | $4,195 | 2.11% |
| Asian Indian | 19 | $5,765,000 | $303,421 | $5,469 | 1.63% |
| American Indian | 19 | $4,155,000 | $218,684 | $0 | 1.96% |
| Native Hawaiian | 9 | $1,625,000 | $180,556 | $3,114 | 1.68% |
| Filipino | 2 | $820,000 | $410,000 | $3,528 | 2.27% |
| Other Asian | 3 | $565,000 | $188,333 | $0 | 1.52% |
| Korean | 1 | $335,000 | $335,000 | $3,562 | 2.13% |
| Chinese | 1 | $285,000 | $285,000 | $5,874 | 1.88% |
Approval Rates
Total approvals of all applications70.16%
Nassau Educators Federal Credit Union has a below average approval rate.
Pick Rate
Approvals leading to origination80.67%
Nassau Educators Federal Credit Union has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 2,426 | $608,770,000 | $250,936 |
Occupancy Type Mix
| Dwelling Type | Originations | Total Value | Average Loan |
|---|---|---|---|
| 2,426 | $608,770,000 | $250,936 |
LTV Distribution
| Loan to Value | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| 20-40% | 644 | $141,580,000 | $219,845 | $3,374 | 1.85% |
| 40-60% | 427 | $149,025,000 | $349,005 | $4,023 | 2.33% |
| 60-80% | 407 | $184,735,000 | $453,894 | $4,702 | 2.66% |
| 80-100% | 104 | $53,040,000 | $510,000 | $4,756 | 2.72% |
| Over 100% | 1 | $585,000 | $585,000 | $3,671 | 3.00% |
| Under 20% | 843 | $79,805,000 | $94,668 | $3,220 | 1.78% |
