360 Federal Credit Union Mortgage Rates, Fees & Info

Windsor Locks, CT

LEI: 549300ZOKUKS0Z7C3X31

Tax ID: 06-0674541

Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data

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Mortgage Data

  • Originations
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • 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

    360 Federal Credit Union is a smaller credit union specializing in Home Improvement and Refi loans. 360 Federal Credit Union has a high proportion of conventional loans. Their top markets by origination volume include: Hartford, Springfield, Torrington, New Haven, and Pittsfield among others. We have data for 5 markets. (Some data included below & more in-depth data is available with an active subscription.)

    360 Federal 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.

    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.

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    Originations

    125

    Origination Dollar Volume (All Markets)

    $6,455,000

    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
    HARTFORD-EAST HARTFORD-MIDDLETOWN, CT (FHA|USDA|VA) 100 $5,450,000 $54,500 $342 4.21%
    SPRINGFIELD, MA (FHA|USDA|VA) 18 $670,000 $37,222 $0 3.81%
    Torrington, CT (FHA|USDA|VA) 3 $175,000 $58,333 $0 3.50%
    NEW HAVEN-MILFORD, CT (FHA|USDA|VA) 3 $135,000 $45,000 $0 3.63%
    PITTSFIELD, MA (FHA|USDA|VA) 1 $25,000 $25,000 $0 3.75%
    360 Federal Credit Union's top markets include Hartford, Springfield, Torrington, New Haven, and Pittsfield among others.

    Their top states include:
  • Connecticut (FHA|USDA|VA)
  • Massachusetts (FHA|USDA|VA)

    • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 90 $3,890,000 $43,222 $342 4.10%
    HELOC 35 $2,565,000 $73,286 n/a 0.00%

    For 2018, 360 Federal Credit Union's most frequently originated type of loan was Conventional, with 90 originations. Their 2nd most popular type was HELOC, with 35 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Improvement 50 $2,230,000 $44,600 $343 3.88%
    Other 28 $1,230,000 $43,929 $343 4.40%
    Refi 26 $1,980,000 $76,154 $368 3.90%
    Cash Out Refi 21 $1,015,000 $48,333 $324 4.29%

    For 2018, 360 Federal Credit Union's most frequently cited loan purpose was Home Improvement, with 50 originations. The 2nd most popular reason was Other, with 28 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 61 $3,625,000 $59,426 $331 4.11%
    5 Year 28 $720,000 $25,714 $368 3.68%
    10 Year 20 $840,000 $42,000 $329 4.18%
    15 Year 16 $1,270,000 $79,375 $368 4.75%

    For 2018, 360 Federal Credit Union's most frequently cited loan duration was Other, with 61 originations. The 2nd most popular length was 5 Year, with 28 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 18 $940,000 $52,222

    360 Federal Credit Union's average total fees were $0, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 18 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    3-4% 62 $2,240,000 $36,129
    4-5% 20 $1,310,000 $65,500
    6-7% 5 $245,000 $49,000
    5-6% 3 $95,000 $31,667

    During 2018, 360 Federal Credit Union's average interest rate for loans was 0.00%, while their most frequently originated rate bucket for loans was 3-4%, with 62 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 106 $3,840,000 $36,226 $339 4.08%
    $100k-200k 16 $1,880,000 $117,500 $368 4.26%
    $200k-400k 3 $735,000 $245,000 $0 0.00%

    2018 saw 360 Federal Credit Union place emphasis on $100,000 or less loans with 106 originations, totaling $3,840,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 37 $1,675,000 $45,270 $368 4.02%
    $75k-100k 30 $1,450,000 $48,333 $333 4.11%
    $50k-75k 27 $1,105,000 $40,926 $338 4.18%
    $150k-250k 17 $1,335,000 $78,529 $333 3.71%
    $50k or less 10 $490,000 $49,000 $368 5.08%
    $250k+ 3 $375,000 $125,000 $0 3.56%

    360 Federal Credit Union lent most frequently to those with incomes in the $100k-150k range, with 37 originations. The second most popular income band? $75k-100k, with 30 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 35 $2,565,000 $73,286 $0 0.00%
    20-30% 21 $1,035,000 $49,286 $339 3.87%
    30-36% 16 $560,000 $35,000 $310 3.99%
    <20% 10 $400,000 $40,000 $368 3.76%
    45% 6 $210,000 $35,000 $368 4.77%
    42% 4 $200,000 $50,000 $368 4.25%
    44% 4 $340,000 $85,000 $368 4.25%
    39% 4 $180,000 $45,000 $0 4.34%
    40% 4 $110,000 $27,500 $0 4.28%
    36% 3 $85,000 $28,333 $368 3.83%
    41% 3 $175,000 $58,333 $0 4.25%
    46% 3 $85,000 $28,333 $368 4.38%
    50-60% 3 $175,000 $58,333 $0 3.58%
    37% 3 $165,000 $55,000 $0 4.08%
    43% 2 $70,000 $35,000 $218 5.38%
    38% 2 $70,000 $35,000 $368 5.31%
    47% 1 $15,000 $15,000 $0 3.88%
    48% 1 $15,000 $15,000 $0 3.75%

    360 Federal Credit Union lent most frequently to those with DTI ratios of Exempt%, with 35 originations. The next most common DTI ratio? 20-30%, with 21 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 105 $5,555,000 $52,905 $323 4.09%
    Not provided 13 $695,000 $53,462 $368 4.03%
    Black 5 $125,000 $25,000 $368 4.47%
    Asian 2 $80,000 $40,000 $368 4.06%

    Approval Rates

    Total approvals of all applications
    81.48%

    360 Federal Credit Union has a below average approval rate.

    Pick Rate

    Approvals leading to origination
    76.00%

    360 Federal Credit Union has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 35 $2,565,000 $73,286
    NA 90 $3,890,000 $43,222

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Single Family (1-4 Units):Site-Built 125 $6,455,000 $51,640

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 19 $1,165,000 $61,316 $368 4.24%
    40-60% 2 $280,000 $140,000 $368 4.50%
    60-80% 6 $700,000 $116,667 $368 4.44%
    Under 20% 63 $1,745,000 $27,698 $323 4.02%