N.w. Iowa Credit Union Mortgage Rates, Fees & Info
Le Mars, IALEI: 254900620TR9OUE6OJ65
Tax ID: 42-6098592
Latest/2022 | 2021 Data | 2020 Data | 2019 Data | 2018 Data
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Mortgage Data
Review & Overview
N.w. Iowa Credit Union is a smaller credit union specializing in Home Improvement, Refi, and Cash Out Refi loans. N.w. Iowa Credit Union has a high proportion of conventional loans. Their top two markets are Pella and Sioux City .N.w. Iowa Credit Union has an above average approval rate when compared to the average across all lenders.
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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| 30 Year Conventional Purchase | 6.27% | 3/24/24 |
| 15 Year Conventional Purchase | 5.68% | 3/24/24 |
| 15 Year Conventional Refi | 5.68% | 3/24/24 |
| 15 Year Cash-out Refi | 5.68% | 3/24/24 |
| 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. | ||
N.w. Iowa Credit Union Mortgage Calculator
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Originations
46Origination Dollar Volume (All Markets)
$3,360,000Top 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 |
|---|---|---|---|---|---|
| Outside of Metro Areas | 43 | $3,155,000 | $73,372 | $1,255 | 3.89% |
| Pella, IA (FHA|USDA|VA) | 1 | $135,000 | $135,000 | $2,349 | 3.75% |
| SIOUX CITY, IA-NE-SD (FHA|USDA|VA) | 2 | $70,000 | $35,000 | $1,661 | 3.97% |
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 46 | $3,360,000 | $73,043 | $1,297 | 3.89% |
For 2019, N.w. Iowa Credit Union's most frequently originated type of loan was Conventional, with 46 originations.
Loan Reason
For 2019, N.w. Iowa Credit Union's most frequently cited loan purpose was Home Improvement, with 16 originations. The 2nd most popular reason was Refi, with 11 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| 10 Year | 33 | $2,195,000 | $66,515 | $1,305 | 3.84% |
| Other | 12 | $1,120,000 | $93,333 | $1,370 | 4.00% |
| 5 Year | 1 | $45,000 | $45,000 | $214 | 3.99% |
For 2019, N.w. Iowa Credit Union's most frequently cited loan duration was 10 Year, with 33 originations. The 2nd most popular length was Other, with 12 originations.
Origination Fees/Closing Costs
| Origination Fee/Closing Cost | Originations | Total Value | Average Loan |
|---|---|---|---|
| $<1k | 40 | $2,580,000 | $64,500 |
| $1k-2k | 5 | $745,000 | $149,000 |
N.w. Iowa 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 40 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 3-4% | 28 | $2,230,000 | $79,643 |
| 4-5% | 18 | $1,130,000 | $62,778 |
During 2019, N.w. Iowa Credit Union's average interest rate for loans was 0.00%, while their most frequently originated rate bucket for loans was 3-4%, with 28 originations.
Loan Sizing
2019 saw N.w. Iowa Credit Union place emphasis on $100,000 or less loans with 35 originations, totaling $1,735,000 in origination value.
Applicant Income
N.w. Iowa Credit Union lent most frequently to those with incomes in the $50k-75k range, with 17 originations. The second most popular income band? $50k or less, with 10 originations.
Applicant Debt to Income Ratio
N.w. Iowa Credit Union lent most frequently to those with DTI ratios of 20-30%, with 14 originations. The next most common DTI ratio? <20%, with 12 originations.
Ethnicity Mix
| Applicant Ethnicity | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| White | 46 | $3,360,000 | $73,043 | $1,297 | 3.89% |
Approval Rates
Total approvals of all applications100.00%
N.w. Iowa 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 originationPoints and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 46 | $3,360,000 | $73,043 |