Healthcare Employees Fcu Mortgage Rates, Fees & Info
Princeton, NJLEI: 549300VW4CUMQW09U139
Tax ID: 22-2570818
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Mortgage Data
Review & Overview
Healthcare Employees Fcu is a smaller credit union specializing in Home Improvement and Refi loans. Healthcare Employees Fcu 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.) Their top markets by origination volume include: New York, Philadelphia, Trenton, Vineland, and Allentown among others. We have data for 5 markets. (Some data included below & more in-depth data is available with an active subscription.)Healthcare Employees Fcu has an above average approval rate when compared to the average across all lenders.
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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| 15 Year Conventional Refi | 5.68% | 11/17/24 |
| 15 Year Cash-out Refi | 5.68% | 11/17/24 |
| 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. | ||
Healthcare Employees Fcu Mortgage Calculator
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
105Origination Dollar Volume (All Markets)
$7,865,000Top 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) | 68 | $5,520,000 | $81,176 | $366 | 5.20% |
| Philadelphia-Camden-Wilmington, PA-NJ-DE-MD (FHA|USDA|VA) | 29 | $1,885,000 | $65,000 | $354 | 5.17% |
| TRENTON-PRINCETON, NJ (FHA|USDA|VA) | 6 | $370,000 | $61,667 | $344 | 5.31% |
| VINELAND-BRIDGETON, NJ (FHA|USDA|VA) | 1 | $55,000 | $55,000 | $298 | 4.74% |
| ALLENTOWN-BETHLEHEM-EASTON, PA-NJ (FHA|USDA|VA) | 1 | $35,000 | $35,000 | $301 | 2.74% |
Their top states include:
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 104 | $7,840,000 | $75,385 | $361 | 5.17% |
| FHA | 1 | $25,000 | $25,000 | $254 | 5.44% |
For 2023, Healthcare Employees Fcu's most frequently originated type of loan was Conventional, with 104 originations. Their 2nd most popular type was FHA, with 1 originations.
Loan Reason
For 2023, Healthcare Employees Fcu's most frequently cited loan purpose was Home Improvement, with 73 originations. The 2nd most popular reason was Refi, with 17 originations.
Loan Duration/Length
For 2023, Healthcare Employees Fcu's most frequently cited loan duration was 10 Year, with 34 originations. The 2nd most popular length was 5 Year, with 22 originations.
Origination Fees/Closing Costs
| Origination Fee/Closing Cost | Originations | Total Value | Average Loan |
|---|---|---|---|
| $<1k | 2 | $50,000 | $25,000 |
Healthcare Employees Fcu's average total fees were $0, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 2 originations.
Interest Rates
During 2023, Healthcare Employees Fcu's average interest rate for loans was 0.00%, while their most frequently originated rate bucket for loans was 5-6%, with 44 originations.
Loan Sizing
2023 saw Healthcare Employees Fcu place emphasis on $100,000 or less loans with 83 originations, totaling $3,895,000 in origination value.
Applicant Income
Healthcare Employees Fcu lent most frequently to those with incomes in the $150k-250k range, with 37 originations. The second most popular income band? $100k-150k, with 35 originations.
Applicant Debt to Income Ratio
Healthcare Employees Fcu lent most frequently to those with DTI ratios of 20-30%, with 32 originations. The next most common DTI ratio? 30-36%, with 25 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications100.00%
Healthcare Employees Fcu has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.
Pick Rate
Approvals leading to originationPoints and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 105 | $7,865,000 | $74,905 |