Somerset Federal Credit Union mortgage approval rate & lending review
Somerset Federal Credit Union decided 679 mortgage applications and funded 530 loans across the 616 counties Fat Boy Data covers, 2023–2025.
These are the decisions Somerset Federal Credit Union reported under the Home Mortgage Disclosure Act, not its advertised interest rates.
Somerset Federal Credit Union at a glance
Approval is 1.5 points above the 76.7% national rate for the same mix of loan types.
Approval rates by loan type
| Loan type | Approval | Approved | Taken up | Typical loan | Loans made |
|---|---|---|---|---|---|
| Mortgage lenders | 71% | 219 / 307 | 100% | $175K | 218 |
| Home improvement loans | 99% | 68 / 69 | 100% | $65K | 68 |
| Cash-out refinance | 82% | 235 / 285 | 100% | $65K | 235 |
Somerset Federal Credit Union lending by state
| State | Approval | Typical loan | Decided | Loans made |
|---|---|---|---|---|
| Massachusetts | 81% | $65K | 575 | 464 |
| Rhode Island | 64% | $115K | 103 | 66 |
Fat Boy Data covers 616 counties, 79.6% of the US population, not every county in every state. States with fewer than 20 decisions are not listed.Methodology.
Where Somerset Federal Credit Union lends most
| County | Loan type | Approval | Decided | Loans made |
|---|---|---|---|---|
| Bristol County, MA | Cash-out refinance | 83% | 254 | 210 |
| Bristol County, MA | Mortgage lenders | 77% | 121 | 92 |
| Bristol County, MA | Home improvement loans | 98% | 66 | 65 |
| Plymouth County, MA | Mortgage lenders | 73% | 88 | 64 |
| Kent County, RI | Mortgage lenders | 57% | 35 | 20 |
| Washington County, RI | Mortgage lenders | 68% | 28 | 19 |
The county markets where Somerset Federal Credit Union made the most loans. Each link opens that market with every lender ranked.
Questions about Somerset Federal Credit Union
What is Somerset Federal Credit Union's mortgage approval rate?
Somerset Federal Credit Union approved 78.2% of the 679 mortgage applications it decided across the 616 counties Fat Boy Data covers, 2023–2025, 1.5 points above the 76.7% national rate for the same mix of loan types.
How often do borrowers take the loan Somerset Federal Credit Union offers?
Borrowers accepted 100% of the loans Somerset Federal Credit Union approved, against 96% for all home purchase mortgage lenders nationally. A low take-up usually means the approved terms were not competitive.
What size loans does Somerset Federal Credit Union make?
The typical home purchase mortgage loan Somerset Federal Credit Union made was $175K; across all loan types its typical loan ran from $65K to $175K. HMDA reports amounts in $10,000 brackets, so these are midpoints.
Where does Somerset Federal Credit Union lend?
Somerset Federal Credit Union decided applications in 3 of the states Fat Boy Data covers, most of them in Massachusetts, Rhode Island and New Jersey.
Can I apply to Somerset Federal Credit Union directly?
Yes. Somerset Federal Credit Union is a bank or credit union with 2 branches in the FDIC and NCUA registries, and it takes mortgage applications directly.
Does this page show Somerset Federal Credit Union's interest rates?
No. HMDA filings record who applied, who was approved and how much was borrowed, not the rate offered. Use the approval rate and take-up here to judge how Somerset Federal Credit Union treats applications, then get a rate quote from the lender.