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
  • 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 (well, only) market is Minneapolis.

    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% 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






    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

    128

    Origination Dollar Volume (All Markets)

    $15,680,000

    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) 124 $15,050,000 $121,371 $2,392 4.00%
    Outside of Metro Areas 4 $630,000 $157,500 $3,744 3.84%
    Anoka Hennepin Credit Union's top markets include and Minneapolis among others.

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

    Farmers & Merchants Savings Bank
    Similarity Rank: 720
    Anoka Hennepin Credit Union
    Similarity Rank: 826
    MY Credit Union
    Similarity Rank: 1200
    Liberty Bank Minnesota
    Similarity Rank: 1488
    Bank Midwest
    Similarity Rank: 1740
    Cf Bank
    Similarity Rank: 1953
    LOANFLIGHT LENDING, LLC
    Similarity Rank: 2080
    Security Financial Bank
    Similarity Rank: 2160
    South Metro Federal Credit Union
    Similarity Rank: 2443
    TOPLINE FEDERAL CREDIT UNION
    Similarity Rank: 2496

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 121 $13,865,000 $114,587 $2,023 4.06%
    FHA 6 $1,570,000 $261,667 $10,117 2.79%
    VA 1 $245,000 $245,000 $5,017 2.63%

    For 2021, Anoka Hennepin Credit Union's most frequently originated type of loan was Conventional, with 121 originations. Their 2nd most popular type was FHA, with 6 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Refi 41 $4,705,000 $114,756 $1,912 3.71%
    Home Improvement 35 $1,595,000 $45,571 $291 4.72%
    Cash Out Refi 21 $5,185,000 $246,905 $5,912 3.21%
    Other 16 $780,000 $48,750 $315 4.98%
    Home Purchase 15 $3,415,000 $227,667 $6,320 3.10%

    For 2021, Anoka Hennepin Credit Union's most frequently cited loan purpose was Refi, with 41 originations. The 2nd most popular reason was Home Improvement, with 35 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    15 Year 50 $5,080,000 $101,600 $1,525 4.23%
    30 Year 31 $7,075,000 $228,226 $5,815 3.25%
    10 Year 23 $1,155,000 $50,217 $263 4.83%
    5 Year 15 $445,000 $29,667 $273 3.96%
    20 Year 8 $1,680,000 $210,000 $4,272 3.16%
    Other 1 $245,000 $245,000 $9,964 3.38%

    For 2021, Anoka Hennepin Credit Union's most frequently cited loan duration was 15 Year, with 50 originations. The 2nd most popular length was 30 Year, with 31 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 74 $4,370,000 $59,054
    $2k-3k 15 $2,495,000 $166,333
    $3k-4k 14 $3,560,000 $254,286
    $1k-2k 12 $1,530,000 $127,500
    $4k-5k 6 $1,870,000 $311,667
    $5k+ 4 $1,700,000 $425,000

    Anoka Hennepin Credit Union's average total fees were $5,815, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 74 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    3-4% 56 $8,470,000 $151,250
    4-5% 25 $1,225,000 $49,000
    5-6% 23 $1,075,000 $46,739
    2.5-3% 18 $3,960,000 $220,000
    <2.5% 6 $950,000 $158,333

    During 2021, Anoka Hennepin Credit Union's average interest rate for loans was 3.25%, while their most frequently originated rate bucket for loans was 3-4%, with 56 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 71 $3,485,000 $49,085 $474 4.64%
    $100k-200k 30 $4,370,000 $145,667 $2,742 3.27%
    $200k-400k 25 $6,865,000 $274,600 $6,905 3.09%
    $400k-600k 2 $960,000 $480,000 $8,664 3.44%

    2021 saw Anoka Hennepin Credit Union place emphasis on $100,000 or less loans with 71 originations, totaling $3,485,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 38 $4,950,000 $130,263 $2,777 3.79%
    $75k-100k 31 $2,905,000 $93,710 $1,566 4.18%
    $100k-150k 26 $3,320,000 $127,692 $2,559 4.10%
    $150k-250k 16 $2,700,000 $168,750 $3,591 3.98%
    $50k or less 16 $1,260,000 $78,750 $1,518 4.02%
    $250k+ 1 $545,000 $545,000 $8,990 3.00%

    Anoka Hennepin Credit Union lent most frequently to those with incomes in the $50k-75k range, with 38 originations. The second most popular income band? $75k-100k, with 31 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 25 $2,825,000 $113,000 $2,427 3.92%
    30-36% 25 $3,065,000 $122,600 $2,027 4.16%
    <20% 15 $1,095,000 $73,000 $1,123 3.68%
    45% 7 $1,085,000 $155,000 $3,316 4.18%
    40% 6 $1,030,000 $171,667 $3,835 3.35%
    44% 6 $670,000 $111,667 $3,131 4.22%
    43% 6 $910,000 $151,667 $3,302 3.63%
    41% 6 $480,000 $80,000 $248 4.57%
    50-60% 5 $675,000 $135,000 $4,570 4.39%
    39% 4 $390,000 $97,500 $1,544 4.44%
    38% 4 $380,000 $95,000 $2,030 3.76%
    37% 4 $570,000 $142,500 $2,499 4.38%
    46% 4 $510,000 $127,500 $2,213 3.85%
    49% 3 $835,000 $278,333 $6,632 3.38%
    47% 3 $485,000 $161,667 $3,964 3.67%
    36% 2 $60,000 $30,000 $424 5.00%
    42% 2 $270,000 $135,000 $1,370 4.19%
    48% 1 $345,000 $345,000 $6,817 3.13%

    Anoka Hennepin Credit Union lent most frequently to those with DTI ratios of 20-30%, with 25 originations. The next most common DTI ratio? 30-36%, with 25 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 116 $13,930,000 $120,086 $2,351 3.99%
    Black 4 $970,000 $242,500 $6,533 2.78%
    Not provided 3 $425,000 $141,667 $2,502 4.08%
    Asian Indian 1 $135,000 $135,000 $3,297 3.38%
    Asian 2 $100,000 $50,000 $637 5.73%
    American Indian 1 $95,000 $95,000 $347 5.00%
    Native Hawaiian or Islander 1 $25,000 $25,000 $181 5.50%

    Approval Rates

    Total approvals of all applications
    91.13%

    Anoka Hennepin Credit Union has an average approval rate.

    Pick Rate

    Approvals leading to origination
    56.25%

    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 128 $15,680,000 $122,500

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    128 $15,680,000 $122,500

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 20 $1,600,000 $80,000 $591 4.40%
    40-60% 23 $3,585,000 $155,870 $3,074 3.04%
    60-80% 23 $5,515,000 $239,783 $5,704 3.33%
    80-100% 13 $3,135,000 $241,154 $6,418 3.04%
    Under 20% 49 $1,845,000 $37,653 $277 4.83%