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 Home Improvement, Other, and Refi loans. Anoka Hennepin Credit Union has a high proportion of conventional loans. Their top markets by origination volume include: Minneapolis, Brainerd, Willmar, and St. Cloud among others. We have data for 5 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.

    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






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    The default purchase price is the median sales price across the US for 2022Q4, per FRED.


    Originations

    233

    Origination Dollar Volume (All Markets)

    $17,555,000

    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) 227 $16,995,000 $74,868 $276 4.16%
    Brainerd, MN (FHA|USDA|VA) 1 $375,000 $375,000 $1,387 5.50%
    Outside of Metro Areas 3 $105,000 $35,000 $389 3.83%
    Willmar, MN (FHA|USDA|VA) 1 $55,000 $55,000 $269 4.50%
    ST. CLOUD, MN (FHA|USDA|VA) 1 $25,000 $25,000 $656 5.00%
    Anoka Hennepin Credit Union's top markets include Minneapolis, Brainerd, Willmar, and St. Cloud 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.

    MY Credit Union
    Similarity Rank: 304
    South Metro Federal Credit Union
    Similarity Rank: 429
    Cornerstone State Bank
    Similarity Rank: 464
    WESTconsin Credit Union
    Similarity Rank: 684
    Coulee Bank
    Similarity Rank: 1309
    MEMBERS COOPERATIVE
    Similarity Rank: 1610
    Liberty Bank Minnesota
    Similarity Rank: 1660
    University of Wisconsin Credit Union
    Similarity Rank: 1677
    Lakeview Community Capital, LLC
    Similarity Rank: 1700
    IDEAL
    Similarity Rank: 1755

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 144 $10,140,000 $70,417 $288 5.22%
    HELOC 89 $7,415,000 $83,315 n/a 2.46%

    For 2022, Anoka Hennepin Credit Union's most frequently originated type of loan was Conventional, with 144 originations. Their 2nd most popular type was HELOC, with 89 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Improvement 104 $7,530,000 $72,404 $249 3.71%
    Other 78 $4,860,000 $62,308 $303 4.48%
    Refi 51 $5,165,000 $101,275 $317 4.63%

    For 2022, Anoka Hennepin Credit Union's most frequently cited loan purpose was Home Improvement, with 104 originations. The 2nd most popular reason was Other, with 78 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    15 Year 161 $13,825,000 $85,870 $352 3.92%
    10 Year 52 $3,030,000 $58,269 $242 4.96%
    5 Year 20 $700,000 $35,000 $202 4.11%

    For 2022, Anoka Hennepin Credit Union's most frequently cited loan duration was 15 Year, with 161 originations. The 2nd most popular length was 10 Year, with 52 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 135 $9,335,000 $69,148

    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 135 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    5-6% 63 $4,895,000 $77,698
    <2.5% 60 $4,260,000 $71,000
    4-5% 55 $3,635,000 $66,091
    2.5-3% 21 $2,615,000 $124,524
    6-7% 18 $990,000 $55,000
    3-4% 15 $1,095,000 $73,000
    7-8% 1 $65,000 $65,000

    During 2022, Anoka Hennepin Credit Union's average interest rate for loans was 0.00%, while their most frequently originated rate bucket for loans was 5-6%, with 63 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 174 $8,550,000 $49,138 $253 4.30%
    $100k-200k 49 $6,185,000 $126,224 $341 3.79%
    $200k-400k 9 $2,225,000 $247,222 $943 3.80%
    $400k-600k 1 $595,000 $595,000 $0 2.99%

    2022 saw Anoka Hennepin Credit Union place emphasis on $100,000 or less loans with 174 originations, totaling $8,550,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 84 $5,900,000 $70,238 $274 4.33%
    $75k-100k 45 $3,275,000 $72,778 $299 4.07%
    $50k-75k 44 $2,500,000 $56,818 $285 4.39%
    $150k-250k 42 $3,910,000 $93,095 $306 3.82%
    $50k or less 9 $465,000 $51,667 $260 4.58%
    $250k+ 8 $1,460,000 $182,500 $464 3.49%

    Anoka Hennepin Credit Union lent most frequently to those with incomes in the $100k-150k range, with 84 originations. The second most popular income band? $75k-100k, with 45 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    30-36% 56 $4,340,000 $77,500 $270 4.47%
    20-30% 46 $2,600,000 $56,522 $233 4.16%
    <20% 20 $1,590,000 $79,500 $275 3.41%
    41% 13 $1,095,000 $84,231 $383 3.70%
    45% 12 $960,000 $80,000 $507 3.24%
    37% 9 $675,000 $75,000 $388 4.46%
    43% 9 $705,000 $78,333 $181 3.52%
    44% 8 $490,000 $61,250 $242 5.22%
    50-60% 8 $610,000 $76,250 $401 3.42%
    42% 7 $435,000 $62,143 $270 4.71%
    38% 7 $375,000 $53,571 $351 4.96%
    39% 7 $475,000 $67,857 $236 5.18%
    40% 7 $455,000 $65,000 $279 4.75%
    46% 7 $965,000 $137,857 $266 4.60%
    47% 5 $455,000 $91,000 $0 3.69%
    36% 5 $415,000 $83,000 $234 4.30%
    49% 4 $480,000 $120,000 $181 3.31%
    >60% 2 $330,000 $165,000 $1,212 2.95%
    48% 1 $105,000 $105,000 $365 5.00%

    Anoka Hennepin Credit Union lent most frequently to those with DTI ratios of 30-36%, with 56 originations. The next most common DTI ratio? 20-30%, with 46 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 213 $16,285,000 $76,455 $291 4.14%
    Not provided 7 $695,000 $99,286 $380 4.83%
    Asian 5 $265,000 $53,000 $181 4.15%
    Black 5 $135,000 $27,000 $323 3.50%
    Other Asian 1 $125,000 $125,000 $181 5.50%
    American Indian 1 $25,000 $25,000 $181 5.50%
    Asian Indian 1 $25,000 $25,000 $181 6.50%

    Approval Rates

    Total approvals of all applications
    96.03%

    Anoka Hennepin Credit Union has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.

    Pick Rate

    Approvals leading to origination
    75.54%

    Anoka Hennepin Credit Union has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 233 $17,555,000 $75,343

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    233 $17,555,000 $75,343

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 65 $7,085,000 $109,000 $321 4.01%
    40-60% 11 $2,325,000 $211,364 $478 3.91%
    60-80% 4 $1,070,000 $267,500 $1,015 4.25%
    Under 20% 153 $7,075,000 $46,242 $251 4.25%