Alden Credit Union Mortgage Rates, Fees & Info
Chicopee, MALEI: 549300XB72WCLQVIHN50
Tax ID: 04-1020315
Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data
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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, Boston, Hartford, Norwich, and Pittsfield among others. We have data for 8 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
129Origination Dollar Volume (All Markets)
$22,675,000Top 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 |
|---|---|---|---|---|---|
| SPRINGFIELD, MA (FHA|USDA|VA) | 114 | $15,790,000 | $138,509 | $0 | 0.00% |
| Boston-Cambridge-Newton, MA-NH (FHA|USDA|VA) | 5 | $4,045,000 | $809,000 | $0 | 0.00% |
| HARTFORD-EAST HARTFORD-MIDDLETOWN, CT (FHA|USDA|VA) | 5 | $1,765,000 | $353,000 | $0 | 0.00% |
| NORWICH-NEW LONDON, CT (FHA|USDA|VA) | 1 | $325,000 | $325,000 | $0 | 0.00% |
| Outside of Metro Areas | 1 | $225,000 | $225,000 | $0 | 0.00% |
| PITTSFIELD, MA (FHA|USDA|VA) | 1 | $205,000 | $205,000 | $0 | 0.00% |
| BARNSTABLE TOWN, MA (FHA|USDA|VA) | 1 | $195,000 | $195,000 | $0 | 0.00% |
| Torrington, CT (FHA|USDA|VA) | 1 | $125,000 | $125,000 | $0 | 0.00% |
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 129 | $22,675,000 | $175,775 | $0 | 0.00% |
For 2019, Alden Credit Union's most frequently originated type of loan was Conventional, with 129 originations.
Loan Reason
For 2019, Alden Credit Union's most frequently cited loan purpose was Refi, with 54 originations. The 2nd most popular reason was Home Purchase, with 41 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Other | 129 | $22,675,000 | $175,775 | $0 | 0.00% |
For 2019, Alden Credit Union's most frequently cited loan duration was Other, with 129 originations.
Loan Sizing
2019 saw Alden Credit Union place emphasis on $100k-200k loans with 50 originations, totaling $7,260,000 in origination value.
Applicant Income
Alden Credit Union lent most frequently to those with incomes in the $50k-75k range, with 32 originations. The second most popular income band? $100k-150k, with 22 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Exempt% | 129 | $22,675,000 | $175,775 | $0 | 0.00% |
Alden Credit Union lent most frequently to those with DTI ratios of Exempt%, with 129 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications86.19%
Alden Credit Union has an average approval rate.
Pick Rate
Approvals leading to origination82.95%
Alden Credit Union has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| Exempt | 129 | $22,675,000 | $175,775 |
Occupancy Type Mix
| Dwelling Type | Originations | Total Value | Average Loan |
|---|---|---|---|
| Multifamily:Site-Built | 2 | $600,000 | $300,000 |
| Single Family (1-4 Units):Site-Built | 127 | $22,075,000 | $173,819 |
Complaints
| Bank Name | Product | Issue | 2019 CPFB Complaints | % of Total Issues |
|---|---|---|---|---|
| ALLIED MORTGAGE GROUP | Conventional home mortgage | Closing on a mortgage | 1 | 33.3% |
| ALLIED MORTGAGE GROUP | Conventional home mortgage | Trouble during payment process | 1 | 33.3% |
| ALLIED MORTGAGE GROUP | Other type of mortgage | Trouble during payment process | 1 | 33.3% |