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 Cash Out Refi, 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, New Haven, Worcester, and Torrington among others. We have data for 7 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

    179

    Origination Dollar Volume (All Markets)

    $12,845,000

    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) 142 $9,930,000 $69,930 $383 7.83%
    SPRINGFIELD, MA (FHA|USDA|VA) 26 $2,000,000 $76,923 $368 4.77%
    NEW HAVEN-MILFORD, CT (FHA|USDA|VA) 4 $500,000 $125,000 $0 4.13%
    WORCESTER, MA-CT (FHA|USDA|VA) 4 $220,000 $55,000 $0 5.38%
    Torrington, CT (FHA|USDA|VA) 1 $135,000 $135,000 $468 4.50%
    PROVIDENCE-WARWICK, RI-MA (FHA|USDA|VA) 1 $45,000 $45,000 $0 4.50%
    NORWICH-NEW LONDON, CT (FHA|USDA|VA) 1 $15,000 $15,000 $0 6.00%
    360 Federal Credit Union's top markets include Hartford, Springfield, New Haven, Worcester, and Torrington among others.

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

    • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 91 $5,465,000 $60,055 $384 4.78%
    HELOC 88 $7,380,000 $83,864 n/a 9.71%

    For 2019, 360 Federal Credit Union's most frequently originated type of loan was Conventional, with 91 originations. Their 2nd most popular type was HELOC, with 88 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Cash Out Refi 63 $4,465,000 $70,873 $388 11.97%
    Home Improvement 58 $3,190,000 $55,000 $376 4.51%
    Other 29 $1,955,000 $67,414 $368 5.09%
    Refi 29 $3,235,000 $111,552 $415 4.33%

    For 2019, 360 Federal Credit Union's most frequently cited loan purpose was Cash Out Refi, with 63 originations. The 2nd most popular reason was Home Improvement, with 58 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    15 Year 111 $9,135,000 $82,297 $386 8.82%
    10 Year 34 $2,020,000 $59,412 $379 4.76%
    5 Year 23 $825,000 $35,870 $368 4.41%
    Other 11 $865,000 $78,636 $431 4.20%

    For 2019, 360 Federal Credit Union's most frequently cited loan duration was 15 Year, with 111 originations. The 2nd most popular length was 10 Year, with 34 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 52 $3,090,000 $59,423

    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 52 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    4-5% 89 $7,535,000 $84,663
    3-4% 44 $2,870,000 $65,227
    5-6% 30 $1,590,000 $53,000
    6-7% 13 $725,000 $55,769
    7-8% 2 $100,000 $50,000
    Over 8% 1 $25,000 $25,000

    During 2019, 360 Federal Credit Union's average interest rate for loans was 0.00%, while their most frequently originated rate bucket for loans was 4-5%, with 89 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 138 $6,060,000 $43,913 $368 8.01%
    $100k-200k 29 $4,045,000 $139,483 $447 4.36%
    $200k-400k 12 $2,740,000 $228,333 $743 4.80%

    2019 saw 360 Federal Credit Union place emphasis on $100,000 or less loans with 138 originations, totaling $6,060,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 53 $4,015,000 $75,755 $393 4.70%
    $75k-100k 41 $2,965,000 $72,317 $383 4.58%
    $50k-75k 31 $1,935,000 $62,419 $368 4.87%
    $150k-250k 30 $2,250,000 $75,000 $390 19.69%
    $50k or less 15 $875,000 $58,333 $388 4.55%
    $250k+ 5 $505,000 $101,000 $0 4.70%

    360 Federal Credit Union lent most frequently to those with incomes in the $100k-150k range, with 53 originations. The second most popular income band? $75k-100k, with 41 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 47 $2,485,000 $52,872 $358 14.22%
    <20% 41 $4,675,000 $114,024 $368 4.52%
    30-36% 25 $1,755,000 $70,200 $452 4.86%
    50-60% 8 $430,000 $53,750 $418 4.20%
    37% 8 $540,000 $67,500 $368 5.09%
    36% 7 $485,000 $69,286 $368 4.82%
    41% 7 $575,000 $82,143 $368 5.00%
    38% 5 $295,000 $59,000 $368 4.87%
    39% 5 $185,000 $37,000 $368 4.55%
    45% 4 $150,000 $37,500 $0 4.69%
    40% 4 $160,000 $40,000 $0 5.03%
    44% 4 $290,000 $72,500 $368 4.31%
    46% 3 $115,000 $38,333 $368 4.58%
    42% 3 $135,000 $45,000 $0 5.25%
    47% 3 $75,000 $25,000 $368 4.63%
    49% 2 $170,000 $85,000 $0 4.25%
    43% 2 $280,000 $140,000 $0 5.00%

    360 Federal Credit Union lent most frequently to those with DTI ratios of 20-30%, with 47 originations. The next most common DTI ratio? <20%, with 41 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 158 $11,100,000 $70,253 $378 7.56%
    Not provided 10 $880,000 $88,000 $368 4.52%
    Asian 4 $600,000 $150,000 $556 4.59%
    Black 6 $220,000 $36,667 $368 4.37%
    American Indian 1 $45,000 $45,000 $368 3.99%

    Approval Rates

    Total approvals of all applications
    85.04%

    360 Federal Credit Union has an average approval rate.

    Pick Rate

    Approvals leading to origination
    77.65%

    360 Federal Credit Union has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 179 $12,845,000 $71,760

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Single Family (1-4 Units):Site-Built 179 $12,845,000 $71,760

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 56 $4,020,000 $71,786 $378 4.87%
    40-60% 20 $2,610,000 $130,500 $401 4.33%
    60-80% 13 $2,385,000 $183,462 $493 4.49%
    80-100% 3 $775,000 $258,333 $0 5.00%
    Under 20% 87 $3,055,000 $35,115 $361 9.84%