Anoka Hennepin Credit Union Mortgage Rates, Fees & Info

Coon Rapids, MN

LEI: 2549005NO86X9J3D1U18

Tax ID: 41-6036540

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

    Anoka Hennepin Credit Union is a smaller credit union specializing in Refi, Cash Out Refi, and Home Purchase loans. Anoka Hennepin Credit Union has a high proportion of conventional loans. They have an average proportion of FHA loans. Their top markets by origination volume include: Minneapolis, The Villages, and Fergus Falls among others. We have data for 4 markets. (Some data included below & more in-depth data is available with an active subscription.)

    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. Anoka Hennepin 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 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.

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    SimulatedRates™

    Mortgage Type     		Simulated Rate Simulation Date
    15 Year Conventional Refi 6.70% 6/26/24
    15 Year Cash-out Refi 6.70% 6/26/24
    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






    Your Estimates

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

    This is not an official calculator from Anoka Hennepin 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

    182

    Origination Dollar Volume (All Markets)

    $19,010,000

    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
    MINNEAPOLIS-ST. PAUL-BLOOMINGTON, MN-WI (FHA|USDA|VA) 172 $17,960,000 $104,419 $1,870 4.36%
    Outside of Metro Areas 8 $830,000 $103,750 $2,254 3.85%
    THE VILLAGES, FL (FHA|USDA|VA) 1 $165,000 $165,000 $4,292 3.75%
    Fergus Falls, MN (FHA|USDA|VA) 1 $55,000 $55,000 $269 4.50%
    Anoka Hennepin Credit Union's top markets include Minneapolis, The Villages, and Fergus Falls among others.

    Their top states include:
  • Minnesota (FHA|USDA|VA)
  • Wisconsin (FHA|USDA|VA)
  • Florida (FHA|USDA|VA)

    • 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.

    Peoples Bank Midwest
    Similarity Rank: 608
    Liberty Bank Minnesota
    Similarity Rank: 882
    First Dakota National Bank
    Similarity Rank: 1517
    Anoka Hennepin Credit Union
    Similarity Rank: 1564
    VALLEY MORTGAGE, INC.
    Similarity Rank: 1876
    TOPLINE FEDERAL CREDIT UNION
    Similarity Rank: 1946
    ST. CLOUD FINANCIAL
    Similarity Rank: 1976
    CENTRAL MINNESOTA Credit Union
    Similarity Rank: 2175
    South Metro Federal Credit Union
    Similarity Rank: 2244
    Cornerstone State Bank
    Similarity Rank: 2312

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 172 $16,470,000 $95,756 $1,566 4.41%
    FHA 7 $1,755,000 $250,714 $9,461 3.05%
    VA 3 $785,000 $261,667 $2,504 2.92%

    For 2020, Anoka Hennepin Credit Union's most frequently originated type of loan was Conventional, with 172 originations. Their 2nd most popular type was FHA, with 7 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Refi 54 $4,680,000 $86,667 $831 4.30%
    Home Improvement 43 $1,695,000 $39,419 $284 4.84%
    Cash Out Refi 38 $7,130,000 $187,632 $4,729 3.48%
    Other 29 $1,385,000 $47,759 $375 5.35%
    Home Purchase 18 $4,120,000 $228,889 $5,674 3.39%

    For 2020, Anoka Hennepin Credit Union's most frequently cited loan purpose was Refi, with 54 originations. The 2nd most popular reason was Home Improvement, with 43 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    15 Year 72 $5,990,000 $83,194 $1,090 4.78%
    10 Year 43 $2,525,000 $58,721 $466 4.73%
    30 Year 42 $8,830,000 $210,238 $5,231 3.45%
    5 Year 18 $490,000 $27,222 $219 3.97%
    20 Year 7 $1,175,000 $167,857 $3,898 3.54%

    For 2020, Anoka Hennepin Credit Union's most frequently cited loan duration was 15 Year, with 72 originations. The 2nd most popular length was 10 Year, with 43 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 123 $7,775,000 $63,211
    $2k-3k 22 $3,990,000 $181,364
    $1k-2k 15 $2,045,000 $136,333
    $3k-4k 15 $3,705,000 $247,000
    $4k-5k 3 $975,000 $325,000
    $5k+ 1 $205,000 $205,000

    Anoka Hennepin Credit Union's average total fees were $5,231, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 123 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    3-4% 70 $9,830,000 $140,429
    4-5% 50 $3,380,000 $67,600
    5-6% 36 $1,810,000 $50,278
    2.5-3% 18 $3,470,000 $192,778
    6-7% 7 $375,000 $53,571
    <2.5% 1 $145,000 $145,000

    During 2020, Anoka Hennepin Credit Union's average interest rate for loans was 3.45%, while their most frequently originated rate bucket for loans was 3-4%, with 70 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 112 $5,340,000 $47,679 $430 4.82%
    $100k-200k 42 $6,190,000 $147,381 $2,992 3.66%
    $200k-400k 28 $7,480,000 $267,143 $6,178 3.39%

    2020 saw Anoka Hennepin Credit Union place emphasis on $100,000 or less loans with 112 originations, totaling $5,340,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 50 $6,670,000 $133,400 $2,476 4.33%
    $50k-75k 50 $4,070,000 $81,400 $1,636 4.49%
    $75k-100k 38 $4,570,000 $120,263 $2,142 4.00%
    $50k or less 25 $2,205,000 $88,200 $1,730 4.18%
    $150k-250k 14 $1,010,000 $72,143 $773 5.00%
    $250k+ 4 $410,000 $102,500 $439 4.41%

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

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 46 $3,540,000 $76,957 $1,264 4.35%
    30-36% 31 $3,505,000 $113,065 $2,002 4.39%
    <20% 16 $1,230,000 $76,875 $1,075 4.24%
    44% 10 $1,540,000 $154,000 $2,895 4.05%
    38% 9 $1,185,000 $131,667 $2,729 4.21%
    43% 9 $1,155,000 $128,333 $2,452 4.32%
    40% 9 $1,035,000 $115,000 $1,902 4.60%
    46% 7 $595,000 $85,000 $1,998 4.46%
    48% 6 $550,000 $91,667 $1,328 4.76%
    37% 6 $410,000 $68,333 $940 5.23%
    42% 5 $525,000 $105,000 $1,398 4.97%
    36% 5 $705,000 $141,000 $1,293 3.85%
    39% 5 $665,000 $133,000 $4,018 4.23%
    50-60% 5 $905,000 $181,000 $2,638 3.38%
    45% 4 $450,000 $112,500 $3,260 3.81%
    41% 3 $145,000 $48,333 $351 4.92%
    49% 3 $725,000 $241,667 $8,189 3.08%
    47% 2 $70,000 $35,000 $444 5.00%
    >60% 1 $75,000 $75,000 $318 3.50%

    Anoka Hennepin Credit Union lent most frequently to those with DTI ratios of 20-30%, with 46 originations. The next most common DTI ratio? 30-36%, with 31 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 178 $18,310,000 $102,865 $1,877 4.34%
    Black 3 $685,000 $228,333 $3,357 3.92%
    Not provided 1 $15,000 $15,000 $181 3.75%

    Approval Rates

    Total approvals of all applications
    91.55%

    Anoka Hennepin Credit Union has an average approval rate.

    Pick Rate

    Approvals leading to origination
    57.14%

    Anoka Hennepin Credit Union has a low pick rate. They may have issues with closing loans or may approve everyone, but with onerous loan terms.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 182 $19,010,000 $104,451

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Single Family (1-4 Units):Site-Built 182 $19,010,000 $104,451

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 44 $3,410,000 $77,500 $741 4.62%
    40-60% 17 $2,415,000 $142,059 $2,679 3.71%
    60-80% 33 $6,015,000 $182,273 $4,339 3.68%
    80-100% 18 $4,620,000 $256,667 $5,833 3.23%
    Under 20% 69 $2,355,000 $34,130 $338 4.93%

    Complaints

    Bank Name Product Issue 2020 CPFB Complaints % of Total Issues
    A-M-S Mortgage Services, Inc. FHA mortgage Applying for a mortgage or refinancing an existing mortgage 1 100.0%