Northern Star Credit Union Mortgage Rates, Fees & Info
Portsmouth, VALEI: 549300Y8MO6UUFA38I79
Tax ID: 54-0316051
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Mortgage Data
Review & Overview
Northern Star Credit Union is a smaller credit union specializing in Home Improvement loans. Northern Star Credit Union has a high proportion of conventional loans.Northern Star Credit Union has an above average approval rate when compared to the average across all lenders.
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Originations
31Origination Dollar Volume (All Markets)
$215,000Top 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 |
|---|---|---|---|---|---|
| Outside of Metro Areas | 31 | $215,000 | $6,935 | $0 | 10.81% |
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 31 | $215,000 | $6,935 | $0 | 10.81% |
For 2018, Northern Star Credit Union's most frequently originated type of loan was Conventional, with 31 originations.
Loan Reason
| Loan Reason | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Home Improvement | 31 | $215,000 | $6,935 | $0 | 10.81% |
For 2018, Northern Star Credit Union's most frequently cited loan purpose was Home Improvement, with 31 originations.
Loan Duration/Length
For 2018, Northern Star Credit Union's most frequently cited loan duration was 3 Year, with 11 originations. The 2nd most popular length was 1 Year, with 9 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| Over 8% | 21 | $125,000 | $5,952 |
| 3-4% | 4 | $50,000 | $12,500 |
| 4-5% | 3 | $15,000 | $5,000 |
| 5-6% | 2 | $20,000 | $10,000 |
| 7-8% | 1 | $5,000 | $5,000 |
During 2018, Northern Star Credit Union's average interest rate for loans was 0.00%, while their most frequently originated rate bucket for loans was Over 8%, with 21 originations.
Loan Sizing
| Loan Size | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| $100,000 or less | 31 | $215,000 | $6,935 | $0 | 10.81% |
2018 saw Northern Star Credit Union place emphasis on $100,000 or less loans with 31 originations, totaling $215,000 in origination value.
Applicant Income
Northern Star Credit Union lent most frequently to those with incomes in the $50k-75k range, with 10 originations. The second most popular income band? $50k or less, with 10 originations.
Ethnicity Mix
| Applicant Ethnicity | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Black | 20 | $130,000 | $6,500 | $0 | 11.56% |
| White | 11 | $85,000 | $7,727 | $0 | 9.44% |
Approval Rates
Total approvals of all applications100.00%
Northern Star 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 originationPoints and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 31 | $215,000 | $6,935 |
Occupancy Type Mix
| Dwelling Type | Originations | Total Value | Average Loan |
|---|---|---|---|
| Single Family (1-4 Units):Site-Built | 31 | $215,000 | $6,935 |
Complaints
| Bank Name | Product | Issue | 2018 CPFB Complaints | % of Total Issues |
|---|---|---|---|---|
| Northern Trust Company, The | Conventional home mortgage | Trouble during payment process | 2 | 66.7% |
| Northern Trust Company, The | Home equity loan or line of credit (HELOC) | Applying for a mortgage or refinancing an existing mortgage | 1 | 33.3% |