Lender profile · HMDA 2023–2025
Somerset Federal Credit Union mortgage approval rates & lending data
Somerset Federal Credit Union decided 679 mortgage applications and funded 530 loans across the 616 counties Fat Boy Data covers, 2023–2025.
Approval 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 |
| New Jersey | 0% | — | 1 | 0 |
Covers the 616 counties in the Fat Boy Data footprint, which is 79.6% of the US population — not every county in each state. Methodology.