Premier Credit Union Mortgage Rates, Fees & Info
Des Moines, IALEI: 2549004WBDC394DA3W87
Tax ID: 42-0127275
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Mortgage Data
Review & Overview
Premier Credit Union is a smaller credit union specializing in Other and Home Purchase loans. Premier Credit Union has a high proportion of conventional loans. They have a a low proportion of FHA loans. (This may mean they shy away from first time homebuyers.) They have a a low proportion of FHA loans. (This may mean they shy away from first time homebuyers.) Their top markets by origination volume include: Des Moines, Ames, Mason City, Pella, and Waterloo among others. We have data for 7 markets. (Some data included below & more in-depth data is available with an active subscription.)Premier Credit Union has an above average approval rate when compared to the average across all lenders. They have a below average pick rate when compared to similar lenders. Premier Credit Union is typically a low 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 | 6.39% | 11/17/24 |
| 30 Year Conventional Refi | 6.96% | 11/17/24 |
| 30 Year Cash-out Refi | 6.58% | 11/17/24 |
| 15 Year Conventional Purchase | 5.35% | 11/17/24 |
| 15 Year Conventional Refi | 5.63% | 11/17/24 |
| 15 Year Cash-out Refi | 5.63% | 11/17/24 |
| 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. | ||
Premier Credit Union Mortgage Calculator
Your Estimates
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This is not an official calculator from Premier 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
649Origination Dollar Volume (All Markets)
$67,175,000Awards
Premier Credit Union - 2023
Premier Credit Union is a 2023 , due to their low .
For 2023, less than of lenders were eligible for this award.
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Relative Rate
Premier Credit Union's average 30 year fixed mortgage rate was
7.41%.
The 2023 average 30 year fixed rate mortgage across all markets and lenders was 6.48%.
This yields a difference of 0.93%.
Relative Fees (Closing Costs)
Premier Credit Union's average total fees/closing costs for a 30 year fixed rate
mortgage were $4,573.
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 |
|---|---|---|---|---|---|
| DES MOINES-WEST DES MOINES, IA (FHA|USDA|VA) | 528 | $56,450,000 | $106,913 | $4,531 | 7.35% |
| AMES, IA (FHA|USDA|VA) | 49 | $4,995,000 | $101,939 | $4,456 | 7.34% |
| Outside of Metro Areas | 67 | $4,365,000 | $65,149 | $4,506 | 7.34% |
| Mason City, IA (FHA|USDA|VA) | 2 | $670,000 | $335,000 | $4,136 | 6.63% |
| Pella, IA (FHA|USDA|VA) | 1 | $425,000 | $425,000 | $3,306 | 5.75% |
| WATERLOO-CEDAR FALLS, IA (FHA|USDA|VA) | 1 | $205,000 | $205,000 | $5,079 | 5.50% |
| IOWA CITY, IA (FHA|USDA|VA) | 1 | $65,000 | $65,000 | $3,914 | 8.00% |
Similar Lenders
We use machine learning to identify the top lenders compared against Premier Credit Union based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.
Similarity Rank: 26
Similarity Rank: 60
Similarity Rank: 144
Similarity Rank: 175
Similarity Rank: 272
Similarity Rank: 300
Similarity Rank: 300
Similarity Rank: 427
Similarity Rank: 456
Similarity Rank: 460
Product Mix
For 2023, Premier Credit Union's most frequently originated type of loan was HELOC, with 394 originations. Their 2nd most popular type was Conventional, with 253 originations.
Loan Reason
For 2023, Premier Credit Union's most frequently cited loan purpose was Other, with 436 originations. The 2nd most popular reason was Home Improvement, with 135 originations.
Loan Duration/Length
For 2023, Premier Credit Union's most frequently cited loan duration was 30 Year, with 460 originations. The 2nd most popular length was 10 Year, with 48 originations.
Origination Fees/Closing Costs
Premier Credit Union's average total fees were $4,573, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 29 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 7-8% | 357 | $35,355,000 | $99,034 |
| 6-7% | 196 | $19,540,000 | $99,694 |
| 5-6% | 45 | $8,635,000 | $191,889 |
| Over 8% | 42 | $2,630,000 | $62,619 |
| 4-5% | 9 | $1,015,000 | $112,778 |
During 2023, Premier Credit Union's average interest rate for loans was 7.41%, while their most frequently originated rate bucket for loans was 7-8%, with 357 originations.
Loan Sizing
2023 saw Premier Credit Union place emphasis on $100,000 or less loans with 443 originations, totaling $21,665,000 in origination value.
Applicant Income
Premier Credit Union lent most frequently to those with incomes in the $100k-150k range, with 205 originations. The second most popular income band? $150k-250k, with 148 originations.
Applicant Debt to Income Ratio
Premier Credit Union lent most frequently to those with DTI ratios of 20-30%, with 209 originations. The next most common DTI ratio? 30-36%, with 129 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications93.42%
Premier Credit Union has an average approval rate.
Pick Rate
Approvals leading to origination79.66%
Premier Credit Union has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| 0.0 | 572 | $49,540,000 | $86,608 |
| NA | 77 | $17,635,000 | $229,026 |