Anoka Hennepin Credit Union Mortgage Rates, Fees & Info
Coon Rapids, MNLEI: 2549005NO86X9J3D1U18
Tax ID: 41-6036540
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Mortgage Data
Review & Overview
Anoka Hennepin Credit Union is a smaller credit union specializing in Other, Home Improvement, and Refi loans. Anoka Hennepin Credit Union has a high proportion of conventional loans. Their top two markets are Minneapolis and Brainerd .Anoka Hennepin 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.
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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| 15 Year Conventional Refi | 6.70% | 12/16/24 |
| 15 Year Cash-out Refi | 6.70% | 12/16/24 |
| 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. | ||
Anoka Hennepin Credit Union Mortgage Calculator
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Originations
121Origination Dollar Volume (All Markets)
$6,865,000Top 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 |
|---|---|---|---|---|---|
| MINNEAPOLIS-ST. PAUL-BLOOMINGTON, MN-WI (FHA|USDA|VA) | 117 | $6,575,000 | $56,197 | $308 | 5.24% |
| Outside of Metro Areas | 3 | $255,000 | $85,000 | $493 | 5.42% |
| Brainerd, MN (FHA|USDA|VA) | 1 | $35,000 | $35,000 | $841 | 6.49% |
Similar Lenders
We use machine learning to identify the top lenders compared against Anoka Hennepin 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 | 121 | $6,865,000 | $56,736 | $317 | 5.25% |
For 2019, Anoka Hennepin Credit Union's most frequently originated type of loan was Conventional, with 121 originations.
Loan Reason
| Loan Reason | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Other | 50 | $2,530,000 | $50,600 | $337 | 5.35% |
| Home Improvement | 36 | $1,630,000 | $45,278 | $273 | 5.30% |
| Refi | 35 | $2,705,000 | $77,286 | $337 | 5.06% |
For 2019, Anoka Hennepin Credit Union's most frequently cited loan purpose was Other, with 50 originations. The 2nd most popular reason was Home Improvement, with 36 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| 15 Year | 53 | $4,165,000 | $78,585 | $371 | 5.70% |
| 10 Year | 40 | $1,690,000 | $42,250 | $283 | 5.37% |
| 5 Year | 28 | $1,010,000 | $36,071 | $266 | 4.24% |
For 2019, Anoka Hennepin Credit Union's most frequently cited loan duration was 15 Year, with 53 originations. The 2nd most popular length was 10 Year, with 40 originations.
Origination Fees/Closing Costs
| Origination Fee/Closing Cost | Originations | Total Value | Average Loan |
|---|---|---|---|
| $<1k | 119 | $6,725,000 | $56,513 |
Anoka Hennepin Credit Union's average total fees were $0, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 119 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 4-5% | 48 | $3,260,000 | $67,917 |
| 5-6% | 35 | $2,025,000 | $57,857 |
| 3-4% | 19 | $675,000 | $35,526 |
| 6-7% | 18 | $880,000 | $48,889 |
| 7-8% | 1 | $25,000 | $25,000 |
During 2019, Anoka Hennepin Credit Union's average interest rate for loans was 0.00%, while their most frequently originated rate bucket for loans was 4-5%, with 48 originations.
Loan Sizing
2019 saw Anoka Hennepin Credit Union place emphasis on $100,000 or less loans with 105 originations, totaling $4,455,000 in origination value.
Applicant Income
Anoka Hennepin Credit Union lent most frequently to those with incomes in the $50k-75k range, with 36 originations. The second most popular income band? $100k-150k, with 31 originations.
Applicant Debt to Income Ratio
Anoka Hennepin Credit Union lent most frequently to those with DTI ratios of 30-36%, with 34 originations. The next most common DTI ratio? 20-30%, with 32 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications91.49%
Anoka Hennepin Credit Union has an average approval rate.
Pick Rate
Approvals leading to origination71.90%
Anoka Hennepin Credit Union has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 121 | $6,865,000 | $56,736 |