Idb Global Federal Credit Union Mortgage Rates, Fees & Info

Washington, DC

LEI: 2549003Z8R5QM0WPS603

Tax ID: 53-0260404

5 stars - Updated: 7/20/24 - out of 5 stars, based on 10 reviews

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

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Mortgage Data

Review & Overview

Idb Global Federal Credit Union is a smaller credit union specializing in Home Purchase loans. Idb Global Federal Credit Union has a high proportion of conventional loans. Their top markets by origination volume include: Washington, Miami, New York, Atlanta, and Baltimore among others. We have data for 8 markets. (Some data included below & more in-depth data is available with an active subscription.)

Idb Global Federal Credit Union has an above average approval rate when compared to the average across all lenders. Idb Global Federal Credit Union is typically an average fee lender. (We use the term "fees" to include things like closing costs and other costs incurred by borrowers-- whether they are paid out of pocket or rolled into the loan.) They typically have relatively high rates.

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.

Mortgage seekers: Choose your metro area here to explore the lowest fee & rate lenders.

Mortgage professionals: We have various tools to make your lives easier. Contact us to see how we can help with your market research, analytics or advertising needs.

SimulatedRates™

Mortgage Type
Simulated Rate Simulation Date
30 Year Conventional Purchase 6.28% 7/20/24
30 Year Cash-out Refi 6.28% 7/20/24
15 Year Conventional Purchase 5.86% 7/20/24
15 Year Conventional Refi 6.01% 7/20/24
15 Year Cash-out Refi 6.01% 7/20/24
These are simulated rates generated by our proprietary machine learning models. These are not guaranteed by the bank. They are our estimates based on a lender's past behaviors combined with current market conditions. Contact an individual lender for their actual rates. Our models use fixed rate terms for conforming loans, 700+ FICO, 10% down for FHA and 20% for conventional. These are based on consensus, historical data-- not advertised promotional rates.

Idb Global Federal Credit Union Mortgage Calculator






Your Estimates

Estimated Loan Payment: Update the calculator values and click calculate payment!

This is not an official calculator from Idb Global Federal Credit Union. It uses our SimulatedRate™ technology, basic math and reasonable assumptions to calculate mortgage payments derived from our simulations and your inputs.

The default purchase price is the median sales price across the US for 2022Q4, per FRED.


Originations

102

Origination Dollar Volume (All Markets)

$51,510,000

Awards

IDB Global Federal Credit Union 30 Year Conventional Loans bronze IDB Global Federal Credit Union 30 Year Conventional Loans gold IDB Global Federal Credit Union 30 Year Conventional Loans gold
Show all (3) awards

Relative Rate

Idb Global Federal Credit Union's average 30 year fixed mortgage rate was 5.28%.

The 2023 average 30 year fixed rate mortgage across all markets and lenders was 6.48%.

This yields a difference of -1.2%.

Relative Fees (Closing Costs)

Idb Global Federal Credit Union's average total fees/closing costs for a 30 year fixed rate mortgage were $6,229.

The average total origination fees for 30 year fixed rate mortgages across all lenders (for all loan values, including both points & up-front fees in addition to origination fees) were $9,089.

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
Washington-Arlington-Alexandria, DC-VA-MD-WV (FHA|USDA|VA) 88 $47,280,000 $537,273 $5,921 5.39%
Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) 6 $2,460,000 $410,000 $6,362 5.58%
New York-Newark-Jersey City, NY-NJ-PA (FHA|USDA|VA) 2 $520,000 $260,000 $5,191 5.50%
Outside of Metro Areas 1 $365,000 $365,000 $4,586 6.88%
ATLANTA-SANDY SPRINGS-ALPHARETTA, GA (FHA|USDA|VA) 1 $275,000 $275,000 $4,466 6.00%
BALTIMORE-COLUMBIA-TOWSON, MD (FHA|USDA|VA) 2 $230,000 $115,000 $4,151 6.00%
CHARLOTTE-CONCORD-GASTONIA, NC-SC (FHA|USDA|VA) 1 $215,000 $215,000 $4,710 6.63%
SALISBURY, MD-DE (FHA|USDA|VA) 1 $165,000 $165,000 $3,832 6.38%
Idb Global Federal Credit Union's top markets include Washington, Miami, New York, Atlanta, and Baltimore among others.

Their top states include:
  • Maryland (FHA|USDA|VA)
  • Virginia (FHA|USDA|VA)
  • District of Columbia (FHA|USDA|VA)
  • Florida (FHA|USDA|VA)
  • West Virginia (FHA|USDA|VA)
  • Similar Lenders

    We use machine learning to identify the top lenders compared against IDB Global Federal Credit Union based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.

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    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 102 $51,510,000 $505,000 $5,838 5.46%

    For 2023, Idb Global Federal Credit Union's most frequently originated type of loan was Conventional, with 102 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 82 $42,730,000 $521,098 $6,019 5.50%
    Cash Out Refi 19 $8,425,000 $443,421 $5,089 5.34%
    Refi 1 $355,000 $355,000 $5,292 4.50%

    For 2023, Idb Global Federal Credit Union's most frequently cited loan purpose was Home Purchase, with 82 originations. The 2nd most popular reason was Cash Out Refi, with 19 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 72 $42,010,000 $583,472 $6,229 5.28%
    15 Year 25 $7,535,000 $301,400 $4,893 5.87%
    20 Year 4 $1,680,000 $420,000 $5,066 5.88%
    10 Year 1 $285,000 $285,000 $4,470 5.88%

    For 2023, Idb Global Federal Credit Union's most frequently cited loan duration was 30 Year, with 72 originations. The 2nd most popular length was 15 Year, with 25 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $2k-3k 52 $32,240,000 $620,000
    $1k-2k 42 $10,130,000 $241,190
    $3k-4k 5 $5,425,000 $1,085,000
    $4k-5k 2 $3,120,000 $1,560,000
    $5k+ 1 $595,000 $595,000

    Idb Global Federal Credit Union's average total fees were $6,229, while their most frequently occuring range of origination fees (closing costs) were in the $2k-3k bucket, with 52 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    5-6% 49 $20,735,000 $423,163
    4-5% 32 $21,130,000 $660,313
    6-7% 20 $8,800,000 $440,000
    7-8% 1 $845,000 $845,000

    During 2023, Idb Global Federal Credit Union's average interest rate for loans was 5.28%, while their most frequently originated rate bucket for loans was 5-6%, with 49 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 38 $11,180,000 $294,211 $4,797 5.45%
    $600k-1MM 31 $23,625,000 $762,097 $6,894 5.43%
    $400k-600k 17 $8,545,000 $502,647 $6,047 5.53%
    $100k-200k 11 $1,605,000 $145,909 $4,259 5.75%
    $1MM+ 5 $6,555,000 $1,311,000 $9,977 4.78%

    2023 saw Idb Global Federal Credit Union place emphasis on $200k-400k loans with 38 originations, totaling $11,180,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $250k+ 41 $27,205,000 $663,537 $6,619 5.37%
    $150k-250k 39 $18,135,000 $465,000 $5,610 5.56%
    $100k-150k 15 $4,505,000 $300,333 $4,823 5.48%
    $75k-100k 5 $1,235,000 $247,000 $4,655 5.33%
    $50k-75k 2 $430,000 $215,000 $4,857 5.50%

    Idb Global Federal Credit Union lent most frequently to those with incomes in the $250k+ range, with 41 originations. The second most popular income band? $150k-250k, with 39 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 32 $12,840,000 $401,250 $5,530 5.43%
    30-36% 22 $12,470,000 $566,818 $5,822 5.54%
    <20% 7 $2,665,000 $380,714 $5,099 5.38%
    37% 6 $3,640,000 $606,667 $6,512 5.56%
    38% 5 $2,645,000 $529,000 $5,708 5.45%
    40% 4 $2,050,000 $512,500 $5,768 5.41%
    41% 3 $2,095,000 $698,333 $6,337 5.92%
    36% 3 $1,465,000 $488,333 $6,010 5.63%
    42% 3 $1,905,000 $635,000 $6,784 5.29%
    43% 3 $1,025,000 $341,667 $5,008 6.00%
    48% 3 $2,375,000 $791,667 $7,440 4.96%
    45% 2 $1,940,000 $970,000 $8,439 5.00%
    46% 2 $460,000 $230,000 $5,031 5.13%
    39% 2 $700,000 $350,000 $5,330 5.44%
    47% 2 $990,000 $495,000 $5,311 4.94%
    49% 2 $1,770,000 $885,000 $7,667 5.19%
    44% 1 $475,000 $475,000 $5,813 6.25%

    Idb Global Federal Credit Union lent most frequently to those with DTI ratios of 20-30%, with 32 originations. The next most common DTI ratio? 30-36%, with 22 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 88 $44,610,000 $506,932 $5,791 5.46%
    Black 7 $3,945,000 $563,571 $6,915 5.39%
    Asian 3 $1,415,000 $471,667 $5,324 5.46%
    Not provided 3 $1,115,000 $371,667 $5,454 5.38%
    Asian Indian 1 $425,000 $425,000 $5,198 5.50%

    Approval Rates

    Total approvals of all applications
    100.00%

    Idb Global Federal Credit Union has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.

    Pick Rate

    Approvals leading to origination

    Points and Fees

    Points Originations Total Value Average Loan
    NA 102 $51,510,000 $505,000

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    102 $51,510,000 $505,000

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 6 $2,360,000 $393,333 $4,876 5.44%
    40-60% 20 $8,750,000 $437,500 $5,411 5.29%
    60-80% 43 $22,685,000 $527,558 $6,134 5.44%
    80-100% 31 $17,255,000 $556,613 $5,977 5.62%
    Under 20% 2 $460,000 $230,000 $4,502 4.94%