Somerset Federal Credit Union
Somerset Federal Credit Union received 323 applications in 2025 and made 227 mortgages, in 10 counties across 3 states. The median rate its borrowers got was 6.250% on a median loan of $115,000. Of 262 decisions, 35 were denials — 13.4%, most often for credit history.
| Legal Entity Identifier | 549300VWMFYNEEG33W94 |
|---|---|
| Applications received | 323 |
| Mortgages made | 227 |
| Denied | 35 |
| Approved, not taken up | 0 |
| Withdrawn or incomplete | 61 |
| Loans bought from other lenders | 0 |
| Median rate spread over the prime offer rate | Not published |
| FDIC-insured bank | This lender is not an FDIC-insured bank under this name: a mortgage company, a credit union, or a bank filing under another name. |
By loan purpose
| Purpose | Mortgages made | Median rate | Median loan | Denied |
|---|---|---|---|---|
| Home purchase | 103 | 6.250% | $165,000 | 14.2% |
| Refinancing | 1 | Under 10 loans | Under 10 loans | 50.0% |
| Cash-out refinancing | 80 | 6.250% | $85,000 | 17.5% |
| Other purposes | 43 | 6.250% | $95,000 | 0.0% |
Where Somerset Federal Credit Union lends most
The 10 counties where it made the most mortgages in 2025. Each county page ranks every lender there.
| County | Mortgages made | Median rate | Denied |
|---|---|---|---|
| Bristol County, MA | 150 | 6.250% | 10.2% |
| Plymouth County, MA | 40 | 6.000% | 9.1% |
| Newport County, RI | 11 | 6.250% | 26.7% |
| Kent County, RI | 9 | Under 10 loans | 30.8% |
| Providence County, RI | 7 | Under 10 loans | 22.2% |
| Washington County, RI | 5 | Under 10 loans | 16.7% |
| Barnstable County, MA | 2 | Under 10 loans | 50.0% |
| Bristol County, RI | 2 | Under 10 loans | 0.0% |
| Norfolk County, MA | 1 | Under 10 loans | 0.0% |
| Atlantic County, NJ | 0 | Under 10 loans | 100.0% |
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When Somerset Federal Credit Union’s figures are published for the next year, or restated.
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Counts, medians and denial shares are computed from the Home Mortgage Disclosure Act loan-level file for 2025, published by the Consumer Financial Protection Bureau through the FFIEC: every application a covered lender received, as the lender reported it. A median rate is what borrowers got, not what you will be offered — it depends on the loan, the property, your credit and the market on the day, and no figure here is a quote. A median over fewer than 10 loans is not shown: it is a number with no meaning and a real person's rate half-exposed. Those cells say "under 10 loans" and the count is still published. This is information, not advice, and no lender pays to appear.