Premier Credit Union Mortgage Rates, Fees & Info

Des Moines, IA

LEI: 2549004WBDC394DA3W87

Tax ID: 42-0127275

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

Jump to:

  • SimulatedRates™
  • Mortgage Calculator

    • Mortgage Data

  • Originations
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • Complaints
  • Similar Lenders
  • Loan Length
  • Loan to Value Info
  • Debt-to-Income
  • Applicant Income
  • Ethnicity Info
  • Approval & Pick Rates
  • Points and Fees
  • Origination Fees (Closing Costs)

    • Review & Overview

    Premier Credit Union is a smaller credit union specializing in Refi 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.) Their top markets by origination volume include: Des Moines, Ames, Pella, Mason City, and Burlington among others. We have data for 6 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 about average 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.

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    SimulatedRates™

    Mortgage Type     		Simulated Rate Simulation Date
    30 Year Conventional Purchase 6.39% 5/4/24
    30 Year Conventional Refi 6.96% 5/4/24
    30 Year Cash-out Refi 6.58% 5/4/24
    15 Year Conventional Purchase 5.35% 5/4/24
    15 Year Conventional Refi 5.63% 5/4/24
    15 Year Cash-out Refi 5.63% 5/4/24
    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

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

    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

    302

    Origination Dollar Volume (All Markets)

    $23,900,000

    Awards

    Premier Credit Union 30 Year Conventional Loans silver Premier Credit Union 30 Year Conventional Loans silver
    Show all (2) awards

    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) 264 $19,460,000 $73,712 $4,467 4.67%
    AMES, IA (FHA|USDA|VA) 23 $2,685,000 $116,739 $3,833 4.79%
    Outside of Metro Areas 8 $910,000 $113,750 $3,889 4.40%
    Pella, IA (FHA|USDA|VA) 5 $525,000 $105,000 $4,361 5.15%
    Mason City, IA (FHA|USDA|VA) 1 $295,000 $295,000 $5,883 2.99%
    Burlington, IA-IL (FHA|USDA|VA) 1 $25,000 $25,000 $0 7.00%
    Premier Credit Union's top markets include Des Moines, Ames, Pella, Mason City, and Burlington among others.

    Their top states include:
  • Iowa (FHA|USDA|VA)

    • 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.

    Charter Bank
    Similarity Rank: 36
    Raccoon Valley Bank
    Similarity Rank: 96
    Guthrie County State Bank
    Similarity Rank: 166
    Community Choice Credit Union
    Similarity Rank: 187
    Collins Community Credit Union
    Similarity Rank: 273
    Luana Savings Bank
    Similarity Rank: 289
    GREATER IOWA CREDIT UNION
    Similarity Rank: 374
    Fidelity Bank
    Similarity Rank: 428
    Premier Credit Union
    Similarity Rank: 450
    American Trust & Savings Bank
    Similarity Rank: 486

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 300 $23,810,000 $79,367 $4,375 4.67%
    FHA 2 $90,000 $45,000 $0 5.75%

    For 2018, Premier Credit Union's most frequently originated type of loan was Conventional, with 300 originations. Their 2nd most popular type was FHA, with 2 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Other 101 $4,025,000 $39,851 $0 5.32%
    Refi 73 $9,985,000 $136,781 $4,250 4.10%
    Home Improvement 53 $1,665,000 $31,415 $0 4.51%
    Cash Out Refi 48 $2,720,000 $56,667 $0 4.63%
    Home Purchase 27 $5,505,000 $203,889 $4,555 4.30%

    For 2018, Premier Credit Union's most frequently cited loan purpose was Other, with 101 originations. The 2nd most popular reason was Refi, with 73 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    15 Year 88 $8,080,000 $91,818 $4,419 5.53%
    10 Year 86 $3,810,000 $44,302 $0 4.81%
    5 Year 48 $1,500,000 $31,250 $0 3.61%
    Other 42 $2,060,000 $49,048 $5,111 3.95%
    30 Year 34 $8,140,000 $239,412 $4,308 4.42%
    20 Year 4 $310,000 $77,500 $4,120 5.88%

    For 2018, Premier Credit Union's most frequently cited loan duration was 15 Year, with 88 originations. The 2nd most popular length was 10 Year, with 86 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $2k-3k 21 $2,765,000 $131,667
    $1k-2k 18 $3,400,000 $188,889
    $3k-4k 10 $2,210,000 $221,000
    $4k-5k 5 $1,525,000 $305,000
    $5k+ 5 $2,565,000 $513,000
    $<1k 2 $360,000 $180,000

    Premier Credit Union's average total fees were $4,308, while their most frequently occuring range of origination fees (closing costs) were in the $2k-3k bucket, with 21 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    3-4% 109 $8,015,000 $73,532
    4-5% 86 $10,220,000 $118,837
    5-6% 41 $1,615,000 $39,390
    6-7% 35 $1,865,000 $53,286
    <2.5% 10 $420,000 $42,000
    2.5-3% 10 $1,460,000 $146,000
    7-8% 6 $210,000 $35,000
    Over 8% 5 $95,000 $19,000

    During 2018, Premier Credit Union's average interest rate for loans was 4.42%, while their most frequently originated rate bucket for loans was 3-4%, with 109 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 233 $9,415,000 $40,408 $3,227 4.77%
    $100k-200k 41 $5,675,000 $138,415 $3,794 4.50%
    $200k-400k 23 $6,085,000 $264,565 $4,717 4.12%
    $400k-600k 4 $2,120,000 $530,000 $7,698 4.50%
    $600k-1MM 1 $605,000 $605,000 $8,764 4.63%

    2018 saw Premier Credit Union place emphasis on $100,000 or less loans with 233 originations, totaling $9,415,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 88 $5,680,000 $64,545 $4,417 4.88%
    $50k-75k 65 $5,145,000 $79,154 $4,274 4.38%
    $75k-100k 49 $3,405,000 $69,490 $3,908 4.80%
    $150k-250k 45 $4,275,000 $95,000 $5,597 4.57%
    $50k or less 44 $3,280,000 $74,545 $3,845 4.68%
    $250k+ 11 $2,115,000 $192,273 $7,050 4.79%

    Premier Credit Union lent most frequently to those with incomes in the $100k-150k range, with 88 originations. The second most popular income band? $50k-75k, with 65 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 103 $8,655,000 $84,029 $5,102 4.65%
    30-36% 72 $4,760,000 $66,111 $3,655 4.79%
    <20% 31 $2,185,000 $70,484 $3,946 3.81%
    36% 15 $865,000 $57,667 $3,432 4.35%
    38% 11 $895,000 $81,364 $3,693 4.73%
    37% 10 $550,000 $55,000 $2,779 4.34%
    40% 10 $690,000 $69,000 $0 4.81%
    42% 9 $745,000 $82,778 $3,640 6.18%
    44% 9 $545,000 $60,556 $7,008 5.34%
    41% 8 $630,000 $78,750 $3,072 5.35%
    43% 7 $745,000 $106,429 $4,081 5.20%
    39% 6 $1,030,000 $171,667 $4,971 5.36%
    50-60% 3 $695,000 $231,667 $6,348 3.49%
    45% 3 $635,000 $211,667 $4,134 4.20%
    47% 1 $85,000 $85,000 $0 4.75%
    49% 1 $25,000 $25,000 $0 7.00%
    >60% 1 $85,000 $85,000 $0 3.50%
    48% 1 $35,000 $35,000 $0 3.10%
    46% 1 $45,000 $45,000 $0 7.00%

    Premier Credit Union lent most frequently to those with DTI ratios of 20-30%, with 103 originations. The next most common DTI ratio? 30-36%, with 72 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 269 $21,325,000 $79,275 $4,326 4.69%
    Not provided 12 $1,350,000 $112,500 $6,747 4.33%
    Asian 11 $575,000 $52,273 $3,546 4.60%
    Black 5 $345,000 $69,000 $3,464 4.48%
    American Indian 4 $280,000 $70,000 $2,532 4.81%
    Not applicable 1 $25,000 $25,000 $0 7.00%

    Approval Rates

    Total approvals of all applications
    91.84%

    Premier Credit Union has an average approval rate.

    Pick Rate

    Approvals leading to origination
    80.79%

    Premier Credit Union has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 302 $23,900,000 $79,139

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Single Family (1-4 Units):Site-Built 302 $23,900,000 $79,139

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 64 $4,080,000 $63,750 $0 5.09%
    40-60% 26 $2,970,000 $114,231 $4,085 4.18%
    60-80% 36 $6,870,000 $190,833 $4,198 4.23%
    80-100% 21 $5,075,000 $241,667 $4,832 4.22%
    Under 20% 154 $4,890,000 $31,753 $0 4.78%

    Complaints

    Bank Name Product Issue 2018 CPFB Complaints % of Total Issues
    Primary Capital Mortgage, LLC VA mortgage Trouble during payment process 1 100.0%