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 small credit union specializing in Refi, Home Purchase, and Cash Out Refi loans. New England Federal Credit Union has a high proportion of conventional loans. They have a low ratio of USDA loans. They have a a low proportion of FHA loans. (This may mean they shy away from first time homebuyers.) Their top markets by origination volume include: Burlington, Detroit, Barre, Boston, and Lebanon among others. We have data for 20 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% 11/23/24
    30 Year Conventional Purchase 6.32% 11/23/24
    30 Year Conventional Refi 6.11% 11/23/24
    30 Year Cash-out Refi 6.26% 11/23/24
    30 Year VA Purchase 6.04% 11/23/24
    30 Year USDA Purchase 6.11% 11/23/24
    15 Year Conventional Purchase 5.74% 11/23/24
    15 Year Conventional Refi 6.06% 11/23/24
    15 Year Cash-out Refi 6.06% 11/23/24
    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

    4,839

    Origination Dollar Volume (All Markets)

    $1,003,225,000
    Show all (10) 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) 3,907 $814,715,000 $208,527 $2,442 3.03%
    Outside of Metro Areas 392 $72,660,000 $185,357 $2,338 3.02%
    Detroit-Warren-Dearborn, MI (FHA|USDA|VA) 240 $48,730,000 $203,042 $2,326 2.94%
    Barre, VT (FHA|USDA|VA) 183 $36,845,000 $201,339 $2,622 3.08%
    Boston-Cambridge-Newton, MA-NH (FHA|USDA|VA) 36 $12,480,000 $346,667 $3,686 3.06%
    Lebanon, NH-VT (FHA|USDA|VA) 39 $8,335,000 $213,718 $2,812 3.05%
    Rutland, VT (FHA|USDA|VA) 14 $1,930,000 $137,857 $1,888 2.65%
    WORCESTER, MA-CT (FHA|USDA|VA) 5 $1,395,000 $279,000 $2,388 3.03%
    MANCHESTER-NASHUA, NH (FHA|USDA|VA) 4 $1,260,000 $315,000 $2,720 3.00%
    Concord, NH (FHA|USDA|VA) 3 $785,000 $261,667 $2,312 2.83%
    SPRINGFIELD, MA (FHA|USDA|VA) 4 $730,000 $182,500 $2,114 3.16%
    Vineyard Haven, MA (FHA|USDA|VA) 1 $685,000 $685,000 $5,732 2.88%
    ANN ARBOR, MI (FHA|USDA|VA) 1 $585,000 $585,000 $2,507 3.00%
    BARNSTABLE TOWN, MA (FHA|USDA|VA) 1 $515,000 $515,000 $4,534 3.13%
    Laconia, NH (FHA|USDA|VA) 2 $410,000 $205,000 $2,187 2.81%
    FLINT, MI (FHA|USDA|VA) 2 $370,000 $185,000 $2,451 3.31%
    Houghton, MI (FHA|USDA|VA) 1 $275,000 $275,000 $2,612 3.25%
    Bennington, VT (FHA|USDA|VA) 2 $240,000 $120,000 $1,444 2.69%
    Keene, NH (FHA|USDA|VA) 1 $175,000 $175,000 $0 3.50%
    MONROE, MI (FHA|USDA|VA) 1 $105,000 $105,000 $6,857 2.63%
    New England Federal Credit Union's top markets include Burlington, Detroit, Barre, Boston, and Lebanon among others.

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

    LUSO-AMERICAN CREDIT UNION
    Similarity Rank: 258
    ADVANTAGE ONE Credit Union
    Similarity Rank: 287
    Piscataqua Savings Bank
    Similarity Rank: 310
    Northfield Savings Bank
    Similarity Rank: 348
    Vermont Federal Credit Union
    Similarity Rank: 355
    SECURITY CREDIT UNION
    Similarity Rank: 387
    St James Mortgage Corporation
    Similarity Rank: 408
    Polish-American Federal Credit Union
    Similarity Rank: 434
    BIRMINGHAM-BLOOMFIELD Credit Union
    Similarity Rank: 472
    COMMUNITY CREDIT UNION OF LYNN
    Similarity Rank: 525

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 4,279 $951,885,000 $222,455 $2,430 2.93%
    HELOC 508 $37,990,000 $74,783 n/a 3.76%
    VA 34 $9,180,000 $270,000 $4,052 3.12%
    USDA 15 $3,495,000 $233,000 $0 2.98%
    FHA 3 $675,000 $225,000 $6,247 3.21%

    For 2020, New England Federal Credit Union's most frequently originated type of loan was Conventional, with 4,279 originations. Their 2nd most popular type was HELOC, with 508 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Refi 2,378 $487,490,000 $205,000 $1,731 2.84%
    Home Purchase 966 $252,760,000 $261,656 $3,477 3.06%
    Cash Out Refi 938 $225,980,000 $240,917 $3,605 2.98%
    Home Improvement 306 $17,080,000 $55,817 $300 3.84%
    Other 251 $19,915,000 $79,343 $957 3.74%

    For 2020, New England Federal Credit Union's most frequently cited loan purpose was Refi, with 2,378 originations. The 2nd most popular reason was Home Purchase, with 966 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 2,834 $640,130,000 $225,875 $3,231 3.20%
    15 Year 688 $135,080,000 $196,337 $2,004 2.82%
    10 Year 609 $99,715,000 $163,736 $230 2.79%
    20 Year 386 $84,800,000 $219,689 $2,983 2.80%
    Other 230 $35,900,000 $156,087 $1,026 2.45%
    5 Year 83 $7,255,000 $87,410 $204 2.99%
    3 Year 8 $240,000 $30,000 $138 3.05%
    1 Year 1 $105,000 $105,000 $0 4.27%

    For 2020, New England Federal Credit Union's most frequently cited loan duration was 30 Year, with 2,834 originations. The 2nd most popular length was 15 Year, with 688 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 2,527 $482,815,000 $191,063
    $1k-2k 826 $217,020,000 $262,736
    $2k-3k 375 $97,155,000 $259,080
    $3k-4k 174 $48,670,000 $279,713
    $4k-5k 100 $31,030,000 $310,300
    $5k+ 96 $32,010,000 $333,438

    New England Federal Credit Union's average total fees were $3,231, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 2,527 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    2.5-3% 1,890 $457,060,000 $241,831
    3-4% 1,773 $378,935,000 $213,725
    <2.5% 963 $150,585,000 $156,371
    4-5% 154 $14,190,000 $92,143
    5-6% 40 $1,690,000 $42,250
    6-7% 16 $710,000 $44,375
    7-8% 2 $30,000 $15,000
    Over 8% 1 $25,000 $25,000

    During 2020, New England Federal Credit Union's average interest rate for loans was 3.20%, while their most frequently originated rate bucket for loans was 2.5-3%, with 1,890 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 2,112 $575,800,000 $272,633 $3,125 2.98%
    $100k-200k 1,571 $239,675,000 $152,562 $1,839 2.93%
    $100,000 or less 888 $47,450,000 $53,435 $571 3.28%
    $400k-600k 220 $102,420,000 $465,545 $4,149 2.98%
    $600k-1MM 43 $30,295,000 $704,535 $3,090 3.27%
    $1MM+ 5 $7,585,000 $1,517,000 $3,372 3.59%

    2020 saw New England Federal Credit Union place emphasis on $200k-400k loans with 2,112 originations, totaling $575,800,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 1,297 $281,805,000 $217,274 $2,574 3.01%
    $150k-250k 958 $240,580,000 $251,127 $2,596 3.03%
    $50k-75k 927 $151,245,000 $163,155 $2,235 3.00%
    $75k-100k 910 $174,100,000 $191,319 $2,513 3.02%
    $50k or less 390 $45,900,000 $117,692 $1,894 3.03%
    $250k+ 255 $80,255,000 $314,725 $2,737 3.03%

    New England Federal Credit Union lent most frequently to those with incomes in the $100k-150k range, with 1,297 originations. The second most popular income band? $150k-250k, with 958 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 1,464 $302,400,000 $206,557 $2,469 2.99%
    30-36% 892 $189,450,000 $212,388 $2,563 3.01%
    <20% 616 $122,810,000 $199,367 $2,053 2.87%
    43% 156 $32,430,000 $207,885 $2,431 3.13%
    39% 151 $30,475,000 $201,821 $2,555 3.03%
    41% 150 $30,950,000 $206,333 $2,578 2.99%
    40% 144 $29,660,000 $205,972 $2,697 3.08%
    36% 143 $32,355,000 $226,259 $2,559 3.08%
    42% 141 $28,755,000 $203,936 $2,594 3.08%
    37% 139 $26,215,000 $188,597 $2,632 3.16%
    38% 136 $29,740,000 $218,676 $2,661 3.15%
    44% 117 $23,925,000 $204,487 $2,745 3.06%
    45% 111 $22,715,000 $204,640 $2,453 3.07%
    46% 92 $21,540,000 $234,130 $3,152 3.09%
    50-60% 86 $12,320,000 $143,256 $973 2.89%
    47% 77 $14,685,000 $190,714 $2,459 3.17%
    48% 68 $15,230,000 $223,971 $2,892 3.04%
    49% 66 $12,810,000 $194,091 $2,541 3.20%
    >60% 39 $5,745,000 $147,308 $210 3.04%

    New England Federal Credit Union lent most frequently to those with DTI ratios of 20-30%, with 1,464 originations. The next most common DTI ratio? 30-36%, with 892 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 4,062 $826,840,000 $203,555 $2,442 3.02%
    Not provided 551 $118,245,000 $214,601 $2,548 2.99%
    Asian 105 $22,505,000 $214,333 $2,163 2.89%
    Not applicable 40 $17,470,000 $436,750 $0 3.75%
    Black 30 $6,230,000 $207,667 $2,060 3.13%
    American Indian 23 $4,555,000 $198,043 $2,361 2.99%
    Other Asian 10 $2,140,000 $214,000 $2,265 2.90%
    Asian Indian 7 $2,005,000 $286,429 $2,637 2.86%
    Chinese 6 $1,760,000 $293,333 $3,787 2.92%
    Vietnamese 2 $650,000 $325,000 $3,632 3.00%
    Other Pacific Islander 1 $325,000 $325,000 $1,339 2.63%
    Korean 1 $265,000 $265,000 $2,421 2.88%
    Japanese 1 $235,000 $235,000 $2,534 3.13%

    Approval Rates

    Total approvals of all applications
    96.82%

    New England Federal Credit Union has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.

    Pick Rate

    Approvals leading to origination
    84.46%

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

    Points and Fees

    Points Originations Total Value Average Loan
    NA 4,839 $1,003,225,000 $207,321

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Site-Built 15 $10,415,000 $694,333
    Single Family (1-4 Units):Manufactured 47 $5,625,000 $119,681
    Single Family (1-4 Units):Site-Built 4,777 $987,185,000 $206,654

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 503 $52,515,000 $104,404 $831 2.93%
    40-60% 1,006 $193,910,000 $192,753 $1,674 2.85%
    60-80% 1,887 $478,665,000 $253,665 $2,950 2.95%
    80-100% 925 $255,835,000 $276,578 $3,319 3.08%
    Over 100% 4 $1,410,000 $352,500 $12,805 2.94%
    Under 20% 514 $20,890,000 $40,642 $294 3.59%