New England Federal Credit Union Mortgage Rates, Fees & Info

Williston, VT

LEI: 549300TLGCPJTEG3WN76

Tax ID: 03-0213411

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
  • 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

    New England Federal Credit Union is a smaller credit union specializing in Home Purchase loans. New England Federal Credit Union has a high proportion of conventional loans. They have a a low proportion of FHA loans. (This may mean they shy away from first time homebuyers.) They have a low ratio of USDA loans. Their top markets by origination volume include: Burlington, Barre, Detroit, Lebanon, and Boston among others. We have data for 13 markets. (Some data included below & more in-depth data is available with an active subscription.)

    New England Federal Credit Union has an above average approval rate when compared to the average across all lenders. They have a below average pick rate when compared to similar lenders. New England 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.

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    SimulatedRates™

    Mortgage Type     		Simulated Rate Simulation Date
    Home Equity Line of Credit (HELOC) 6.27% 12/2/24
    30 Year Conventional Purchase 6.32% 12/2/24
    30 Year Conventional Refi 6.11% 12/2/24
    30 Year Cash-out Refi 6.26% 12/2/24
    30 Year VA Purchase 6.04% 12/2/24
    30 Year USDA Purchase 6.11% 12/2/24
    15 Year Conventional Purchase 5.74% 12/2/24
    15 Year Conventional Refi 6.06% 12/2/24
    15 Year Cash-out Refi 6.06% 12/2/24
    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.

    New England 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 New England 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

    1,928

    Origination Dollar Volume (All Markets)

    $305,460,000
    Show all (11) 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
    BURLINGTON-SOUTH BURLINGTON, VT (FHA|USDA|VA) 1,588 $256,670,000 $161,631 $2,251 4.36%
    Outside of Metro Areas 196 $29,070,000 $148,316 $2,154 4.33%
    Barre, VT (FHA|USDA|VA) 75 $10,125,000 $135,000 $2,060 4.36%
    Detroit-Warren-Dearborn, MI (FHA|USDA|VA) 36 $4,050,000 $112,500 $1,938 4.55%
    Lebanon, NH-VT (FHA|USDA|VA) 11 $1,905,000 $173,182 $3,471 4.48%
    Boston-Cambridge-Newton, MA-NH (FHA|USDA|VA) 8 $1,080,000 $135,000 $2,154 4.40%
    Rutland, VT (FHA|USDA|VA) 6 $820,000 $136,667 $2,755 4.48%
    Concord, NH (FHA|USDA|VA) 2 $490,000 $245,000 $3,028 4.56%
    WORCESTER, MA-CT (FHA|USDA|VA) 1 $425,000 $425,000 $2,749 3.50%
    MANCHESTER-NASHUA, NH (FHA|USDA|VA) 2 $380,000 $190,000 $2,121 4.38%
    FLINT, MI (FHA|USDA|VA) 1 $205,000 $205,000 $3,917 4.25%
    MONROE, MI (FHA|USDA|VA) 1 $185,000 $185,000 $1,878 4.38%
    Bennington, VT (FHA|USDA|VA) 1 $55,000 $55,000 $450 4.70%
    New England Federal Credit Union's top markets include Burlington, Barre, Detroit, Lebanon, and Boston among others.

    Their top states include:
  • Vermont (FHA|USDA|VA)
  • Michigan (FHA|USDA|VA)
  • New Hampshire (FHA|USDA|VA)
  • Massachusetts (FHA|USDA|VA)

    • Similar Lenders

    We use machine learning to identify the top lenders compared against NEW ENGLAND FEDERAL CREDIT UNION based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.

    Polish-American Federal Credit Union
    Similarity Rank: 32
    Dort Financial Credit Union
    Similarity Rank: 95
    MERRIMACK VALLEY
    Similarity Rank: 110
    Middlesex Federal Savings, F.A.
    Similarity Rank: 111
    Vermont Federal Credit Union
    Similarity Rank: 120
    St James Mortgage Corporation
    Similarity Rank: 120
    Triangle Credit Union
    Similarity Rank: 147
    First Ipswich Bank
    Similarity Rank: 164
    Middlesex Savings Bank
    Similarity Rank: 165
    Northfield Savings Bank
    Similarity Rank: 165

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 1,472 $266,570,000 $181,094 $2,167 4.31%
    HELOC 411 $28,225,000 $68,674 n/a 4.57%
    VA 24 $5,970,000 $248,750 $4,238 4.39%
    FHA 15 $3,545,000 $236,333 $5,193 4.18%
    USDA 6 $1,150,000 $191,667 $0 4.38%

    For 2018, New England Federal Credit Union's most frequently originated type of loan was Conventional, with 1,472 originations. Their 2nd most popular type was HELOC, with 411 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 869 $183,375,000 $211,018 $2,969 4.43%
    Refi 425 $58,755,000 $138,247 $1,048 4.06%
    Home Improvement 282 $16,640,000 $59,007 $576 4.54%
    Other 194 $11,900,000 $61,340 $367 4.56%
    Cash Out Refi 158 $34,790,000 $220,190 $3,048 4.27%

    For 2018, New England Federal Credit Union's most frequently cited loan purpose was Home Purchase, with 869 originations. The 2nd most popular reason was Refi, with 425 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 1,335 $246,175,000 $184,401 $3,009 4.47%
    10 Year 224 $25,760,000 $115,000 $298 3.94%
    15 Year 149 $17,435,000 $117,013 $1,342 4.80%
    20 Year 99 $8,485,000 $85,707 $3,040 4.28%
    5 Year 75 $3,355,000 $44,733 $164 3.56%
    Other 43 $4,045,000 $94,070 $191 3.29%
    3 Year 2 $120,000 $60,000 $150 4.44%
    1 Year 1 $85,000 $85,000 $0 6.25%

    For 2018, New England Federal Credit Union's most frequently cited loan duration was 30 Year, with 1,335 originations. The 2nd most popular length was 10 Year, with 224 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 1,072 $166,420,000 $155,243
    $1k-2k 206 $52,930,000 $256,942
    $2k-3k 85 $20,755,000 $244,176
    $3k-4k 47 $12,185,000 $259,255
    $5k+ 18 $5,560,000 $308,889
    $4k-5k 15 $4,125,000 $275,000

    New England Federal Credit Union's average total fees were $3,009, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 1,072 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    4-5% 1,194 $218,710,000 $183,174
    3-4% 461 $68,395,000 $148,362
    5-6% 105 $8,375,000 $79,762
    2.5-3% 66 $7,510,000 $113,788
    6-7% 23 $925,000 $40,217
    <2.5% 12 $900,000 $75,000
    7-8% 6 $260,000 $43,333
    Over 8% 4 $100,000 $25,000

    During 2018, New England Federal Credit Union's average interest rate for loans was 4.47%, while their most frequently originated rate bucket for loans was 4-5%, with 1,194 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 738 $32,440,000 $43,957 $527 4.44%
    $200k-400k 616 $164,430,000 $266,932 $3,234 4.36%
    $100k-200k 512 $75,940,000 $148,320 $2,080 4.26%
    $400k-600k 50 $22,920,000 $458,400 $3,538 4.39%
    $600k-1MM 9 $6,545,000 $727,222 $2,813 4.63%
    $1MM+ 3 $3,185,000 $1,061,667 $3,313 4.73%

    2018 saw New England Federal Credit Union place emphasis on $100,000 or less loans with 738 originations, totaling $32,440,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 482 $62,560,000 $129,793 $1,979 4.33%
    $100k-150k 480 $85,260,000 $177,625 $2,377 4.35%
    $75k-100k 371 $58,455,000 $157,561 $2,532 4.39%
    $150k-250k 261 $49,095,000 $188,103 $2,333 4.35%
    $50k or less 222 $21,200,000 $95,495 $1,824 4.37%
    $250k+ 84 $22,490,000 $267,738 $2,766 4.44%

    New England Federal Credit Union lent most frequently to those with incomes in the $50k-75k range, with 482 originations. The second most popular income band? $100k-150k, with 480 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 423 $61,835,000 $146,182 $2,179 4.30%
    30-36% 398 $61,630,000 $154,849 $2,121 4.36%
    <20% 132 $17,490,000 $132,500 $1,857 4.24%
    42% 90 $14,490,000 $161,000 $2,255 4.49%
    41% 85 $12,975,000 $152,647 $1,992 4.38%
    43% 81 $15,415,000 $190,309 $2,443 4.45%
    38% 81 $13,395,000 $165,370 $2,481 4.40%
    39% 77 $10,795,000 $140,195 $2,187 4.39%
    40% 73 $11,295,000 $154,726 $2,210 4.33%
    36% 69 $9,135,000 $132,391 $2,104 4.43%
    37% 64 $10,790,000 $168,594 $2,143 4.42%
    45% 58 $10,960,000 $188,966 $3,077 4.37%
    44% 45 $9,195,000 $204,333 $2,496 4.33%
    46% 45 $8,385,000 $186,333 $2,287 4.47%
    47% 44 $7,740,000 $175,909 $2,471 4.51%
    48% 42 $7,040,000 $167,619 $2,551 4.22%
    50-60% 35 $5,545,000 $158,429 $2,359 4.35%
    49% 31 $5,925,000 $191,129 $3,172 4.29%
    >60% 11 $1,935,000 $175,909 $620 3.79%

    New England Federal Credit Union lent most frequently to those with DTI ratios of 20-30%, with 423 originations. The next most common DTI ratio? 30-36%, with 398 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 1,679 $263,245,000 $156,787 $2,226 4.35%
    Not provided 143 $22,655,000 $158,427 $2,301 4.48%
    Asian 57 $11,005,000 $193,070 $2,674 4.22%
    Not applicable 8 $3,690,000 $461,250 $0 5.13%
    Black 28 $2,860,000 $102,143 $1,713 4.55%
    American Indian 11 $1,285,000 $116,818 $1,237 4.49%
    Other Asian 1 $435,000 $435,000 $5,942 4.63%
    Native Hawaiian or Islander 1 $285,000 $285,000 $5,789 4.75%

    Approval Rates

    Total approvals of all applications
    93.37%

    New England Federal Credit Union has an average approval rate.

    Pick Rate

    Approvals leading to origination
    82.05%

    New England Federal Credit Union has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 1,928 $305,460,000 $158,434

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Site-Built 6 $3,600,000 $600,000
    Single Family (1-4 Units):Manufactured 24 $2,490,000 $103,750
    Single Family (1-4 Units):Site-Built 1,898 $299,370,000 $157,729

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 259 $22,605,000 $87,278 $757 4.22%
    40-60% 180 $31,240,000 $173,556 $1,591 4.20%
    60-80% 429 $98,125,000 $228,730 $2,871 4.28%
    80-100% 559 $135,145,000 $241,762 $3,004 4.39%
    Over 100% 4 $1,190,000 $297,500 $8,808 4.53%
    Under 20% 497 $17,155,000 $34,517 $250 4.57%