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 low ratio of USDA loans. Their top markets by origination volume include: Burlington, Barre, Detroit, Rutland, and Lebanon among others. We have data for 17 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.

    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) 6.27% 4/28/24
    30 Year Conventional Purchase 6.32% 4/28/24
    30 Year Conventional Refi 6.11% 4/28/24
    30 Year Cash-out Refi 6.26% 4/28/24
    30 Year VA Purchase 6.04% 4/28/24
    30 Year USDA Purchase 6.11% 4/28/24
    15 Year Conventional Purchase 5.74% 4/28/24
    15 Year Conventional Refi 6.06% 4/28/24
    15 Year Cash-out Refi 6.06% 4/28/24
    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

    2,634

    Origination Dollar Volume (All Markets)

    $526,640,000
    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) 2,031 $403,175,000 $198,511 $2,644 4.18%
    Outside of Metro Areas 273 $55,995,000 $205,110 $2,879 4.11%
    Barre, VT (FHA|USDA|VA) 152 $32,790,000 $215,724 $2,727 4.11%
    Detroit-Warren-Dearborn, MI (FHA|USDA|VA) 59 $10,925,000 $185,169 $2,714 4.28%
    Rutland, VT (FHA|USDA|VA) 35 $7,485,000 $213,857 $3,829 4.26%
    Lebanon, NH-VT (FHA|USDA|VA) 42 $7,240,000 $172,381 $3,435 4.08%
    Boston-Cambridge-Newton, MA-NH (FHA|USDA|VA) 17 $4,585,000 $269,706 $2,844 4.13%
    Bennington, VT (FHA|USDA|VA) 5 $935,000 $187,000 $2,584 4.70%
    MANCHESTER-NASHUA, NH (FHA|USDA|VA) 4 $810,000 $202,500 $2,504 3.66%
    WORCESTER, MA-CT (FHA|USDA|VA) 2 $590,000 $295,000 $3,911 4.50%
    Concord, NH (FHA|USDA|VA) 4 $530,000 $132,500 $2,529 3.13%
    Adrian, MI (FHA|USDA|VA) 2 $400,000 $200,000 $2,025 3.00%
    Berlin, NH (FHA|USDA|VA) 3 $365,000 $121,667 $2,161 3.00%
    SAGINAW, MI (FHA|USDA|VA) 1 $265,000 $265,000 $3,275 5.13%
    Keene, NH (FHA|USDA|VA) 2 $260,000 $130,000 $1,672 3.81%
    Cadillac, MI (FHA|USDA|VA) 1 $165,000 $165,000 $6,269 4.75%
    Laconia, NH (FHA|USDA|VA) 1 $125,000 $125,000 $0 3.50%
    New England Federal Credit Union's top markets include Burlington, Barre, Detroit, Rutland, and Lebanon 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.

    QUINCY CREDIT UNION
    Similarity Rank: 50
    Polish-American Federal Credit Union
    Similarity Rank: 57
    St James Mortgage Corporation
    Similarity Rank: 93
    Zeal Credit Union
    Similarity Rank: 108
    Direct Federal Credit Union
    Similarity Rank: 115
    Sharon & Crescent United Credit Union
    Similarity Rank: 168
    Middlesex Savings Bank
    Similarity Rank: 195
    Northfield Savings Bank
    Similarity Rank: 195
    ALIGN CREDIT UNION
    Similarity Rank: 200
    Piscataqua Savings Bank
    Similarity Rank: 200

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 1,923 $449,425,000 $233,710 $2,679 4.00%
    HELOC 696 $72,510,000 $104,181 n/a 4.62%
    VA 13 $4,185,000 $321,923 $6,294 4.67%
    USDA 2 $520,000 $260,000 $0 5.50%

    For 2022, New England Federal Credit Union's most frequently originated type of loan was Conventional, with 1,923 originations. Their 2nd most popular type was HELOC, with 696 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 1,105 $295,685,000 $267,588 $3,598 4.04%
    Home Improvement 524 $39,540,000 $75,458 $378 4.75%
    Refi 490 $96,150,000 $196,224 $1,460 3.91%
    Cash Out Refi 285 $72,035,000 $252,754 $3,476 3.64%
    Other 230 $23,230,000 $101,000 $703 4.65%

    For 2022, New England Federal Credit Union's most frequently cited loan purpose was Home Purchase, with 1,105 originations. The 2nd most popular reason was Home Improvement, with 524 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 1,815 $407,955,000 $224,769 $3,604 4.43%
    10 Year 316 $59,230,000 $187,437 $285 4.22%
    15 Year 211 $33,845,000 $160,403 $1,717 4.39%
    20 Year 167 $12,395,000 $74,222 $3,013 1.12%
    5 Year 72 $3,250,000 $45,139 $124 4.42%
    Other 45 $9,435,000 $209,667 $503 2.97%
    3 Year 7 $525,000 $75,000 $150 3.48%
    1 Year 1 $5,000 $5,000 $71 4.20%

    For 2022, New England Federal Credit Union's most frequently cited loan duration was 30 Year, with 1,815 originations. The 2nd most popular length was 10 Year, with 316 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 1,328 $267,920,000 $201,747
    $1k-2k 208 $56,870,000 $273,413
    $2k-3k 99 $29,695,000 $299,949
    $3k-4k 66 $21,710,000 $328,939
    $5k+ 60 $20,510,000 $341,833
    $4k-5k 29 $8,975,000 $309,483

    New England Federal Credit Union's average total fees were $3,604, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 1,328 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    3-4% 755 $156,745,000 $207,609
    4-5% 617 $137,225,000 $222,407
    5-6% 507 $104,525,000 $206,164
    2.5-3% 261 $62,915,000 $241,054
    <2.5% 246 $24,220,000 $98,455
    6-7% 214 $36,570,000 $170,888
    7-8% 28 $4,210,000 $150,357
    Over 8% 6 $230,000 $38,333

    During 2022, New England Federal Credit Union's average interest rate for loans was 4.43%, while their most frequently originated rate bucket for loans was 3-4%, with 755 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 897 $253,655,000 $282,781 $3,411 4.25%
    $100,000 or less 892 $40,420,000 $45,314 $448 4.00%
    $100k-200k 571 $83,915,000 $146,961 $2,102 4.25%
    $400k-600k 222 $103,300,000 $465,315 $4,484 4.20%
    $600k-1MM 45 $31,945,000 $709,889 $4,006 4.43%
    $1MM+ 7 $13,405,000 $1,915,000 $4,273 4.53%

    2022 saw New England Federal Credit Union place emphasis on $200k-400k loans with 897 originations, totaling $253,655,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 696 $144,160,000 $207,126 $3,025 4.26%
    $150k-250k 516 $118,590,000 $229,826 $2,700 4.38%
    $75k-100k 516 $86,330,000 $167,306 $2,572 3.95%
    $50k-75k 497 $76,275,000 $153,471 $2,472 3.90%
    $250k+ 164 $54,150,000 $330,183 $3,483 4.45%
    $50k or less 156 $16,230,000 $104,038 $1,870 3.86%

    New England Federal Credit Union lent most frequently to those with incomes in the $100k-150k range, with 696 originations. The second most popular income band? $150k-250k, with 516 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 552 $107,160,000 $194,130 $2,722 4.13%
    30-36% 474 $89,830,000 $189,515 $2,542 4.04%
    <20% 180 $31,240,000 $173,556 $2,436 4.00%
    44% 128 $25,320,000 $197,813 $3,313 4.15%
    39% 109 $20,355,000 $186,743 $3,055 4.17%
    45% 109 $20,675,000 $189,679 $3,034 4.20%
    42% 106 $21,810,000 $205,755 $2,945 4.06%
    41% 98 $17,960,000 $183,265 $2,433 4.05%
    43% 95 $18,605,000 $195,842 $2,539 4.00%
    36% 94 $19,010,000 $202,234 $2,716 4.03%
    38% 93 $21,015,000 $225,968 $2,895 4.06%
    40% 78 $17,100,000 $219,231 $3,038 4.06%
    37% 78 $16,120,000 $206,667 $3,379 4.18%
    46% 76 $15,550,000 $204,605 $2,526 4.41%
    49% 65 $11,845,000 $182,231 $2,406 4.79%
    50-60% 64 $9,530,000 $148,906 $2,087 4.35%
    48% 61 $13,165,000 $215,820 $2,641 4.31%
    47% 54 $10,740,000 $198,889 $2,753 4.16%
    >60% 51 $12,385,000 $242,843 $530 4.48%

    New England Federal Credit Union lent most frequently to those with DTI ratios of 20-30%, with 552 originations. The next most common DTI ratio? 30-36%, with 474 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 2,078 $400,390,000 $192,680 $2,666 4.13%
    Not provided 381 $75,715,000 $198,727 $2,869 4.25%
    Not applicable 61 $25,295,000 $414,672 $0 5.24%
    Asian 50 $12,690,000 $253,800 $3,316 4.27%
    Black 41 $7,145,000 $174,268 $2,561 3.56%
    American Indian 17 $3,665,000 $215,588 $2,570 3.81%
    Asian Indian 3 $965,000 $321,667 $3,393 3.33%
    Chinese 3 $775,000 $258,333 $4,269 5.08%

    Approval Rates

    Total approvals of all applications
    94.58%

    New England Federal Credit Union has an average approval rate.

    Pick Rate

    Approvals leading to origination
    84.85%

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

    Points and Fees

    Points Originations Total Value Average Loan
    NA 2,634 $526,640,000 $199,939

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    2,634 $526,640,000 $199,939

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 366 $44,880,000 $122,623 $1,153 4.47%
    40-60% 345 $74,885,000 $217,058 $2,176 3.94%
    60-80% 578 $176,950,000 $306,142 $3,598 4.09%
    80-100% 608 $196,520,000 $323,224 $3,600 4.40%
    Over 100% 1 $485,000 $485,000 $13,835 2.75%
    Under 20% 736 $32,920,000 $44,728 $220 3.99%