Alden Credit Union Mortgage Rates, Fees & Info

Chicopee, MA

LEI: 549300XB72WCLQVIHN50

Tax ID: 04-1020315

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Mortgage Data

Review & Overview

Alden Credit Union is a smaller credit union specializing in Refi and Home Purchase loans. Alden Credit Union has a high proportion of conventional loans. Their top markets by origination volume include: Springfield, Barnstable Town, Boston, Hartford, and Providence among others. We have data for 6 markets. (Some data included below & more in-depth data is available with an active subscription.)

Alden 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.

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Originations

110

Origination Dollar Volume (All Markets)

$17,870,000

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
SPRINGFIELD, MA (FHA|USDA|VA) 102 $14,080,000 $138,039 $0 0.00%
BARNSTABLE TOWN, MA (FHA|USDA|VA) 2 $1,350,000 $675,000 $0 0.00%
Boston-Cambridge-Newton, MA-NH (FHA|USDA|VA) 1 $755,000 $755,000 $0 0.00%
HARTFORD-EAST HARTFORD-MIDDLETOWN, CT (FHA|USDA|VA) 3 $725,000 $241,667 $0 0.00%
PROVIDENCE-WARWICK, RI-MA (FHA|USDA|VA) 1 $495,000 $495,000 $0 0.00%
WORCESTER, MA-CT (FHA|USDA|VA) 1 $465,000 $465,000 $0 0.00%
Alden Credit Union's top markets include Springfield, Barnstable Town, Boston, Hartford, and Providence among others.

Their top states include:
  • Massachusetts (FHA|USDA|VA)
  • Connecticut (FHA|USDA|VA)
  • Rhode Island (FHA|USDA|VA)
  • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 110 $17,870,000 $162,455 $0 0.00%

    For 2023, Alden Credit Union's most frequently originated type of loan was Conventional, with 110 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Improvement 38 $3,280,000 $86,316 $0 0.00%
    Refi 33 $4,915,000 $148,939 $0 0.00%
    Home Purchase 24 $8,670,000 $361,250 $0 0.00%
    Other 15 $1,005,000 $67,000 $0 0.00%

    For 2023, Alden Credit Union's most frequently cited loan purpose was Home Improvement, with 38 originations. The 2nd most popular reason was Refi, with 33 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 110 $17,870,000 $162,455 $0 0.00%

    For 2023, Alden Credit Union's most frequently cited loan duration was Other, with 110 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 58 $3,060,000 $52,759 $0 0.00%
    $200k-400k 22 $6,310,000 $286,818 $0 0.00%
    $100k-200k 20 $2,950,000 $147,500 $0 0.00%
    $400k-600k 7 $3,445,000 $492,143 $0 0.00%
    $600k-1MM 3 $2,105,000 $701,667 $0 0.00%

    2023 saw Alden Credit Union place emphasis on $100,000 or less loans with 58 originations, totaling $3,060,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 34 $5,110,000 $150,294 $0 0.00%
    $50k-75k 25 $2,915,000 $116,600 $0 0.00%
    $75k-100k 18 $2,460,000 $136,667 $0 0.00%
    $150k-250k 15 $2,775,000 $185,000 $0 0.00%
    $50k or less 9 $675,000 $75,000 $0 0.00%
    $250k+ 8 $3,860,000 $482,500 $0 0.00%

    Alden Credit Union lent most frequently to those with incomes in the $100k-150k range, with 34 originations. The second most popular income band? $50k-75k, with 25 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 110 $17,870,000 $162,455 $0 0.00%

    Alden Credit Union lent most frequently to those with DTI ratios of Exempt%, with 110 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 95 $15,625,000 $164,474 $0 0.00%
    Not provided 7 $865,000 $123,571 $0 0.00%
    Black 6 $850,000 $141,667 $0 0.00%
    Asian 1 $355,000 $355,000 $0 0.00%
    Asian Indian 1 $175,000 $175,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    83.55%

    Alden Credit Union has a below average approval rate.

    Pick Rate

    Approvals leading to origination
    87.27%

    Alden Credit Union has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 110 $17,870,000 $162,455

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    110 $17,870,000 $162,455