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 Other loans. Premier Credit Union has a high proportion of conventional loans. Their top markets by origination volume include: Des Moines, Ames, Pella, Marshalltown, and Cedar Rapids 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 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.

    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% 11/21/24
    30 Year Conventional Refi 6.96% 11/21/24
    30 Year Cash-out Refi 6.58% 11/21/24
    15 Year Conventional Purchase 5.35% 11/21/24
    15 Year Conventional Refi 5.63% 11/21/24
    15 Year Cash-out Refi 5.63% 11/21/24
    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

    749

    Origination Dollar Volume (All Markets)

    $80,465,000

    Awards

    Premier Credit Union 30 Year Conventional Loans gold 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) 614 $66,780,000 $108,762 $4,486 4.75%
    Outside of Metro Areas 78 $6,090,000 $78,077 $4,036 5.00%
    AMES, IA (FHA|USDA|VA) 49 $6,065,000 $123,776 $4,389 4.51%
    Pella, IA (FHA|USDA|VA) 4 $880,000 $220,000 $4,923 4.94%
    Marshalltown, IA (FHA|USDA|VA) 2 $290,000 $145,000 $5,320 4.88%
    CEDAR RAPIDS, IA (FHA|USDA|VA) 1 $185,000 $185,000 $3,202 6.13%
    Spirit Lake, IA (FHA|USDA|VA) 1 $175,000 $175,000 $4,587 6.25%
    Premier Credit Union's top markets include Des Moines, Ames, Pella, Marshalltown, and Cedar Rapids 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.

    I. H. MISSISSIPPI VALLEY CREDIT UNION
    Similarity Rank: 150
    MEMBERS1st Community Credit Union
    Similarity Rank: 161
    FINANCIAL PLUS Credit Union
    Similarity Rank: 236
    Farmers State Bank
    Similarity Rank: 399
    Serve Credit Union
    Similarity Rank: 420
    COMMUNITY 1ST CREDIT UNION
    Similarity Rank: 464
    Premier Credit Union
    Similarity Rank: 504
    GREATER IOWA CREDIT UNION
    Similarity Rank: 675
    Peoples Bank
    Similarity Rank: 712
    Luana Savings Bank
    Similarity Rank: 968

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 393 $46,625,000 $118,639 $4,485 4.50%
    HELOC 356 $33,840,000 $95,056 n/a 5.07%

    For 2022, Premier Credit Union's most frequently originated type of loan was Conventional, with 393 originations. Their 2nd most popular type was HELOC, with 356 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Other 390 $36,840,000 $94,462 $0 4.99%
    Home Improvement 212 $14,410,000 $67,972 $0 4.94%
    Home Purchase 56 $14,380,000 $256,786 $4,722 4.25%
    Refi 48 $5,960,000 $124,167 $3,794 3.61%
    Cash Out Refi 43 $8,875,000 $206,395 $4,270 3.89%

    For 2022, Premier Credit Union's most frequently cited loan purpose was Other, with 390 originations. The 2nd most popular reason was Home Improvement, with 212 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 470 $58,240,000 $123,915 $4,573 4.90%
    10 Year 83 $5,175,000 $62,349 $3,932 4.55%
    20 Year 58 $6,550,000 $112,931 $4,194 5.78%
    15 Year 50 $5,510,000 $110,200 $3,878 4.99%
    5 Year 50 $2,400,000 $48,000 $0 3.12%
    Other 38 $2,590,000 $68,158 $0 3.96%

    For 2022, Premier Credit Union's most frequently cited loan duration was 30 Year, with 470 originations. The 2nd most popular length was 10 Year, with 83 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $1k-2k 33 $7,215,000 $218,636
    $3k-4k 29 $7,565,000 $260,862
    $2k-3k 25 $4,195,000 $167,800
    $5k+ 7 $3,495,000 $499,286
    $4k-5k 5 $1,535,000 $307,000

    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 33 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    4-5% 345 $35,715,000 $103,522
    5-6% 169 $17,675,000 $104,586
    3-4% 79 $10,855,000 $137,405
    2.5-3% 55 $7,485,000 $136,091
    <2.5% 43 $4,415,000 $102,674
    6-7% 27 $2,235,000 $82,778
    7-8% 20 $1,310,000 $65,500
    Over 8% 11 $775,000 $70,455

    During 2022, Premier Credit Union's average interest rate for loans was 4.90%, while their most frequently originated rate bucket for loans was 4-5%, with 345 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 480 $23,460,000 $48,875 $3,379 4.88%
    $100k-200k 154 $21,650,000 $140,584 $3,986 4.66%
    $200k-400k 96 $25,870,000 $269,479 $4,675 4.53%
    $400k-600k 15 $6,835,000 $455,667 $6,514 4.23%
    $600k-1MM 4 $2,650,000 $662,500 $5,245 3.87%

    2022 saw Premier Credit Union place emphasis on $100,000 or less loans with 480 originations, totaling $23,460,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 191 $18,595,000 $97,356 $4,661 4.77%
    $150k-250k 160 $22,920,000 $143,250 $5,359 4.92%
    $75k-100k 135 $12,115,000 $89,741 $4,358 4.73%
    $50k-75k 129 $11,355,000 $88,023 $3,906 4.44%
    $250k+ 72 $11,760,000 $163,333 $4,039 4.93%
    $50k or less 62 $3,720,000 $60,000 $3,475 4.97%

    Premier Credit Union lent most frequently to those with incomes in the $100k-150k range, with 191 originations. The second most popular income band? $150k-250k, with 160 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 244 $23,350,000 $95,697 $4,193 4.64%
    30-36% 153 $16,515,000 $107,941 $3,841 4.99%
    <20% 133 $12,125,000 $91,165 $4,584 4.58%
    37% 30 $3,410,000 $113,667 $5,390 4.66%
    38% 27 $2,475,000 $91,667 $3,667 4.68%
    41% 23 $2,415,000 $105,000 $5,131 5.03%
    43% 22 $2,100,000 $95,455 $4,232 5.23%
    42% 16 $1,520,000 $95,000 $4,145 4.69%
    39% 16 $2,100,000 $131,250 $5,007 5.72%
    40% 14 $1,380,000 $98,571 $3,007 5.15%
    45% 14 $2,900,000 $207,143 $5,893 4.32%
    36% 12 $1,630,000 $135,833 $2,966 4.69%
    44% 10 $1,120,000 $112,000 $4,491 5.65%
    50-60% 10 $2,450,000 $245,000 $6,470 4.55%
    47% 9 $1,195,000 $132,778 $4,911 4.69%
    49% 5 $945,000 $189,000 $5,433 4.22%
    48% 4 $940,000 $235,000 $5,586 4.16%
    46% 4 $1,020,000 $255,000 $5,961 5.31%
    >60% 2 $720,000 $360,000 $5,873 4.63%

    Premier Credit Union lent most frequently to those with DTI ratios of 20-30%, with 244 originations. The next most common DTI ratio? 30-36%, with 153 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 661 $68,665,000 $103,880 $4,394 4.76%
    Not provided 68 $9,720,000 $142,941 $4,773 4.95%
    Asian 9 $1,035,000 $115,000 $5,551 4.20%
    Black 10 $1,020,000 $102,000 $4,534 4.51%
    American Indian 1 $25,000 $25,000 $0 6.25%

    Approval Rates

    Total approvals of all applications
    94.10%

    Premier Credit Union has an average approval rate.

    Pick Rate

    Approvals leading to origination
    85.05%

    Premier Credit Union has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    0.0 570 $50,350,000 $88,333
    NA 179 $30,115,000 $168,240

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    749 $80,465,000 $107,430

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 173 $16,325,000 $94,364 $3,392 4.90%
    40-60% 65 $8,365,000 $128,692 $3,986 4.26%
    60-80% 58 $12,400,000 $213,793 $4,455 4.08%
    80-100% 60 $17,030,000 $283,833 $4,638 4.13%
    Over 100% 1 $635,000 $635,000 $0 2.99%
    Under 20% 330 $15,200,000 $46,061 $0 4.95%

    Complaints

    Bank Name Product Issue 2022 CPFB Complaints % of Total Issues
    PRIMARY RESIDENTIAL MORTGAGE Conventional home mortgage Trouble during payment process 1 50.0%
    PRIMARY RESIDENTIAL MORTGAGE VA mortgage Trouble during payment process 1 50.0%