Telco Triad Community Credit Union Mortgage Rates, Fees & Info
Sioux City, IALEI: 2549008TF4FG4ON44F19
Tax ID: 42-0678833
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Mortgage Data
Review & Overview
Telco Triad Community Credit Union is a smaller credit union specializing in Home Improvement and Cash Out Refi loans. They have an average proportion of FHA loans. Telco Triad Community Credit Union has a high proportion of conventional loans. Their top markets by origination volume include: Sioux City, Spencer, and Storm Lake among others. We have data for 4 markets. (Some data included below & more in-depth data is available with an active subscription.)Telco Triad Community Credit Union has an above average approval rate when compared to the average across all lenders.
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Originations
42Origination Dollar Volume (All Markets)
$1,000,000Top 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 |
|---|---|---|---|---|---|
| SIOUX CITY, IA-NE-SD (FHA|USDA|VA) | 35 | $865,000 | $24,714 | $474 | 5.45% |
| Outside of Metro Areas | 4 | $120,000 | $30,000 | $228 | 5.99% |
| Spencer, IA (FHA|USDA|VA) | 2 | $10,000 | $5,000 | $0 | 5.75% |
| Storm Lake, IA (FHA|USDA|VA) | 1 | $5,000 | $5,000 | $0 | 8.50% |
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| FHA | 24 | $230,000 | $9,583 | $40 | 5.79% |
| Conventional | 18 | $770,000 | $42,778 | $595 | 5.32% |
For 2020, Telco Triad Community Credit Union's most frequently originated type of loan was FHA, with 24 originations. Their 2nd most popular type was Conventional, with 18 originations.
Loan Reason
For 2020, Telco Triad Community Credit Union's most frequently cited loan purpose was Home Improvement, with 27 originations. The 2nd most popular reason was Cash Out Refi, with 13 originations.
Loan Duration/Length
For 2020, Telco Triad Community Credit Union's most frequently cited loan duration was Other, with 29 originations. The 2nd most popular length was 10 Year, with 5 originations.
Origination Fees/Closing Costs
| Origination Fee/Closing Cost | Originations | Total Value | Average Loan |
|---|---|---|---|
| $<1k | 8 | $230,000 | $28,750 |
Telco Triad Community 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 8 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 4-5% | 19 | $315,000 | $16,579 |
| 5-6% | 9 | $325,000 | $36,111 |
| 6-7% | 8 | $170,000 | $21,250 |
| 7-8% | 4 | $120,000 | $30,000 |
| 3-4% | 1 | $65,000 | $65,000 |
| Over 8% | 1 | $5,000 | $5,000 |
During 2020, Telco Triad Community Credit Union's average interest rate for loans was 0.00%, while their most frequently originated rate bucket for loans was 4-5%, with 19 originations.
Loan Sizing
| Loan Size | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| $100,000 or less | 42 | $1,000,000 | $23,810 | $433 | 5.59% |
2020 saw Telco Triad Community Credit Union place emphasis on $100,000 or less loans with 42 originations, totaling $1,000,000 in origination value.
Applicant Income
Telco Triad Community Credit Union lent most frequently to those with incomes in the $50k-75k range, with 14 originations. The second most popular income band? $75k-100k, with 12 originations.
Applicant Debt to Income Ratio
Telco Triad Community Credit Union lent most frequently to those with DTI ratios of 20-30%, with 12 originations. The next most common DTI ratio? <20%, with 8 originations.
Ethnicity Mix
| Applicant Ethnicity | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| White | 41 | $915,000 | $22,317 | $433 | 5.57% |
| Black | 1 | $85,000 | $85,000 | $0 | 6.50% |
Approval Rates
Total approvals of all applications100.00%
Telco Triad Community 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 | 42 | $1,000,000 | $23,810 |