Nassau Educators Federal Credit Union Mortgage Rates, Fees & Info

Westbury, NY

LEI: 549300T7DF901BR7V258

Tax ID: 11-1644859

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

Jump to:

  • SimulatedRates™
  • Mortgage Calculator

    • Mortgage Data

  • Originations
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • Complaints
  • Similar Lenders
  • 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

    Nassau Educators Federal Credit Union is a smaller credit union specializing in Home Improvement and Cash Out Refi loans. Nassau Educators Federal Credit Union has a high proportion of conventional loans. Their top markets by origination volume include: New York, Poughkeepsie, Cape Coral, North Port, and Rochester among others. We have data for 14 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Nassau Educators 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. Nassau Educators 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.

    Mortgage seekers: Choose your metro area here to explore the lowest fee & rate lenders.

    Mortgage professionals: We have various tools to make your lives easier. Contact us to see how we can help with your market research, analytics or advertising needs.

    SimulatedRates™

    Mortgage Type     		Simulated Rate Simulation Date
    Home Equity Line of Credit (HELOC) 3.43% 4/21/24
    30 Year Conventional Purchase 6.45% 4/21/24
    30 Year Conventional Refi 6.41% 4/21/24
    30 Year Cash-out Refi 6.46% 4/21/24
    15 Year Conventional Purchase 5.53% 4/21/24
    15 Year Conventional Refi 5.69% 4/21/24
    15 Year Cash-out Refi 5.69% 4/21/24
    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.

    Nassau Educators Federal Credit Union Mortgage Calculator






    Your Estimates

    Estimated Loan Payment: Update the calculator values and click calculate payment!

    This is not an official calculator from Nassau Educators Federal Credit Union. It uses our SimulatedRate™ technology, basic math and reasonable assumptions to calculate mortgage payments derived from our simulations and your inputs.

    The default purchase price is the median sales price across the US for 2022Q4, per FRED.


    Originations

    2,714

    Origination Dollar Volume (All Markets)

    $605,710,000

    Awards

    Nassau Educators Federal Credit Union 30 Year Conventional Loans gold Nassau Educators Federal Credit Union 30 Year Conventional Loans gold Nassau Educators Federal Credit Union 30 Year Conventional Loans gold
    Show all (3) 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
    New York-Newark-Jersey City, NY-NJ-PA (FHA|USDA|VA) 2,677 $599,105,000 $223,797 $3,290 2.30%
    Outside of Metro Areas 19 $3,185,000 $167,632 $25 2.22%
    POUGHKEEPSIE-NEWBURGH-MIDDLETOWN, NY (FHA|USDA|VA) 3 $765,000 $255,000 $5,252 2.74%
    CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) 2 $510,000 $255,000 $552 2.88%
    North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) 1 $435,000 $435,000 $11,322 4.00%
    ROCHESTER, NY (FHA|USDA|VA) 2 $430,000 $215,000 $2,396 2.81%
    ALBANY-SCHENECTADY-TROY, NY (FHA|USDA|VA) 2 $350,000 $175,000 $50 2.86%
    GLENS FALLS, NY (FHA|USDA|VA) 1 $255,000 $255,000 $0 1.99%
    Hudson, NY (FHA|USDA|VA) 2 $230,000 $115,000 $0 1.99%
    Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) 1 $175,000 $175,000 $3,425 5.25%
    PORT ST. LUCIE, FL (FHA|USDA|VA) 1 $105,000 $105,000 $3,481 3.63%
    Gloversville, NY (FHA|USDA|VA) 1 $75,000 $75,000 $0 1.99%
    ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) 1 $55,000 $55,000 $2,407 4.88%
    Amsterdam, NY (FHA|USDA|VA) 1 $35,000 $35,000 $50 3.00%
    Nassau Educators Federal Credit Union's top markets include New York, Poughkeepsie, Cape Coral, North Port, and Rochester among others.

    Their top states include:
  • New York (FHA|USDA|VA)
  • Florida (FHA|USDA|VA)

    • Similar Lenders

    We use machine learning to identify the top lenders compared against Nassau Educators Federal Credit Union based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.

    N C P D Federal Credit Union
    Similarity Rank: 56
    Schuyler Savings Bank
    Similarity Rank: 104
    Union County Savings Bank
    Similarity Rank: 150
    GARDEN SAVINGS FEDERAL CREDIT UNION
    Similarity Rank: 192
    Blue Foundry Bank
    Similarity Rank: 212
    Bogota Savings Bank
    Similarity Rank: 246
    MOUNTAIN MORTGAGE CORP.
    Similarity Rank: 266
    FUNDING RESOURCES MORTGAGE CORPORATION
    Similarity Rank: 292
    CREDIT UNION OF NEW JERSEY
    Similarity Rank: 360
    Atlantic Stewardship Bank
    Similarity Rank: 372

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    HELOC 2,124 $345,960,000 $162,881 n/a 1.96%
    Conventional 590 $259,750,000 $440,254 $3,276 3.53%

    For 2019, Nassau Educators Federal Credit Union's most frequently originated type of loan was HELOC, with 2,124 originations. Their 2nd most popular type was Conventional, with 590 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Improvement 1,110 $181,610,000 $163,613 $0 1.97%
    Refi 597 $114,535,000 $191,851 $3,521 2.10%
    Other 452 $68,780,000 $152,168 $0 2.03%
    Cash Out Refi 284 $139,020,000 $489,507 $3,022 3.50%
    Home Purchase 271 $101,765,000 $375,517 $3,503 3.32%

    For 2019, Nassau Educators Federal Credit Union's most frequently cited loan purpose was Home Improvement, with 1,110 originations. The 2nd most popular reason was Refi, with 597 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 1,347 $330,565,000 $245,408 $3,251 2.61%
    Other 1,252 $207,140,000 $165,447 $3,323 1.88%
    15 Year 80 $29,090,000 $363,625 $3,219 3.23%
    20 Year 18 $6,960,000 $386,667 $4,018 3.63%
    10 Year 17 $31,955,000 $1,879,706 $3,555 3.54%

    For 2019, Nassau Educators Federal Credit Union's most frequently cited loan duration was 30 Year, with 1,347 originations. The 2nd most popular length was Other, with 1,252 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 472 $181,080,000 $383,644
    $1k-2k 67 $28,925,000 $431,716
    $2k-3k 16 $6,710,000 $419,375
    $3k-4k 11 $4,765,000 $433,182
    $4k-5k 10 $4,580,000 $458,000
    $5k+ 8 $5,270,000 $658,750

    Nassau Educators Federal Credit Union's average total fees were $3,251, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 472 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    <2.5% 1,948 $325,170,000 $166,925
    3-4% 437 $177,825,000 $406,922
    2.5-3% 186 $46,620,000 $250,645
    5-6% 75 $10,355,000 $138,067
    4-5% 58 $44,980,000 $775,517
    7-8% 7 $515,000 $73,571
    6-7% 3 $245,000 $81,667

    During 2019, Nassau Educators Federal Credit Union's average interest rate for loans was 2.61%, while their most frequently originated rate bucket for loans was <2.5%, with 1,948 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 803 $48,615,000 $60,542 $1,521 2.00%
    $100k-200k 737 $97,695,000 $132,558 $2,718 2.08%
    $200k-400k 728 $205,120,000 $281,758 $3,019 2.51%
    $400k-600k 391 $183,075,000 $468,223 $3,553 2.80%
    $600k-1MM 38 $27,420,000 $721,579 $3,944 3.36%
    $1MM+ 17 $43,785,000 $2,575,588 $5,049 3.20%

    2019 saw Nassau Educators Federal Credit Union place emphasis on $100,000 or less loans with 803 originations, totaling $48,615,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $150k-250k 872 $196,760,000 $225,642 $3,328 2.35%
    $100k-150k 787 $153,085,000 $194,517 $3,213 2.33%
    $250k+ 413 $121,435,000 $294,031 $3,408 2.17%
    $75k-100k 334 $59,980,000 $179,581 $3,061 2.28%
    $50k-75k 209 $33,285,000 $159,258 $3,050 2.33%
    $50k or less 85 $11,215,000 $131,941 $7,280 2.09%

    Nassau Educators Federal Credit Union lent most frequently to those with incomes in the $150k-250k range, with 872 originations. The second most popular income band? $100k-150k, with 787 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 571 $116,575,000 $204,159 $3,171 2.36%
    30-36% 471 $99,205,000 $210,626 $3,337 2.36%
    <20% 324 $59,730,000 $184,352 $4,179 2.02%
    50-60% 141 $32,815,000 $232,730 $2,499 2.07%
    36% 99 $18,495,000 $186,818 $3,711 2.30%
    42% 95 $21,175,000 $222,895 $3,576 2.44%
    40% 94 $20,920,000 $222,553 $3,124 2.34%
    38% 94 $18,440,000 $196,170 $3,263 2.46%
    37% 92 $23,260,000 $252,826 $3,438 2.25%
    43% 88 $18,190,000 $206,705 $3,048 2.19%
    39% 87 $18,405,000 $211,552 $3,146 2.56%
    44% 86 $18,850,000 $219,186 $2,510 2.17%
    45% 83 $21,895,000 $263,795 $3,109 2.49%
    47% 83 $18,535,000 $223,313 $3,138 2.18%
    46% 73 $19,015,000 $260,479 $3,097 2.36%
    48% 71 $17,475,000 $246,127 $3,683 2.33%
    49% 68 $15,940,000 $234,412 $3,483 2.42%
    41% 67 $13,185,000 $196,791 $3,331 2.36%
    >60% 19 $4,385,000 $230,789 $2,118 2.38%

    Nassau Educators Federal Credit Union lent most frequently to those with DTI ratios of 20-30%, with 571 originations. The next most common DTI ratio? 30-36%, with 471 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 2,061 $429,475,000 $208,382 $3,303 2.26%
    Not provided 261 $95,955,000 $367,644 $3,120 2.69%
    Asian 152 $42,480,000 $279,474 $3,560 2.39%
    Black 188 $27,520,000 $146,383 $3,189 2.22%
    American Indian 18 $3,410,000 $189,444 $3,898 1.99%
    Asian Indian 12 $2,470,000 $205,833 $1,060 2.25%
    Native Hawaiian or Islander 9 $1,905,000 $211,667 $0 2.22%
    Chinese 4 $1,030,000 $257,500 $0 1.74%
    Other Asian 4 $660,000 $165,000 $0 1.99%
    1 $305,000 $305,000 $2,227 3.88%
    Other Pacific Islander 2 $230,000 $115,000 $0 1.49%
    Not applicable 1 $205,000 $205,000 $0 1.99%
    Korean 1 $65,000 $65,000 $0 2.59%

    Approval Rates

    Total approvals of all applications
    75.59%

    Nassau Educators Federal Credit Union has a below average approval rate.

    Pick Rate

    Approvals leading to origination
    81.72%

    Nassau Educators Federal Credit Union has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 2,714 $605,710,000 $223,180

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Site-Built 5 $27,525,000 $5,505,000
    Single Family (1-4 Units):Site-Built 2,709 $578,185,000 $213,431

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 740 $142,450,000 $192,500 $3,037 2.01%
    40-60% 368 $129,880,000 $352,935 $3,054 2.47%
    60-80% 357 $170,425,000 $477,381 $3,314 3.01%
    80-100% 166 $72,090,000 $434,277 $3,564 3.35%
    Under 20% 1,083 $90,865,000 $83,901 $2,678 2.05%

    Complaints

    Bank Name Product Issue 2019 CPFB Complaints % of Total Issues
    Neighhood Housing Services of Chicago Inc Conventional home mortgage Struggling to pay mortgage 1 100.0%