North Shore Federal Credit Union Mortgage Rates, Fees & Info
Silver Bay, MNLEI: 25490091LXRCWGWGZ525
Tax ID: 41-0840330
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Mortgage Data
Review & Overview
North Shore Federal Credit Union is a smaller credit union specializing in Home Purchase, Cash Out Refi, and Refi loans. North Shore Federal Credit Union has a high proportion of conventional loans. Their top two markets are Duluth and Minneapolis .North Shore Federal Credit Union has an above average approval rate when compared to the average across all 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 |
|---|---|---|
| 30 Year Conventional Purchase | 6.56% | 11/21/24 |
| 30 Year Conventional Refi | 7.39% | 11/21/24 |
| 30 Year Cash-out Refi | 6.29% | 11/21/24 |
| 15 Year Conventional Purchase | 5.25% | 11/21/24 |
| 15 Year Conventional Refi | 5.75% | 11/21/24 |
| 15 Year Cash-out Refi | 5.75% | 11/21/24 |
| 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. | ||
North Shore Federal Credit Union Mortgage Calculator
Your Estimates
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
81Origination Dollar Volume (All Markets)
$14,375,000Top 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 |
|---|---|---|---|---|---|
| DULUTH, MN-WI (FHA|USDA|VA) | 52 | $7,680,000 | $147,692 | $0 | 0.00% |
| Outside of Metro Areas | 25 | $5,895,000 | $235,800 | $0 | 0.00% |
| MINNEAPOLIS-ST. PAUL-BLOOMINGTON, MN-WI (FHA|USDA|VA) | 4 | $800,000 | $200,000 | $0 | 0.00% |
Similar Lenders
We use machine learning to identify the top lenders compared against North Shore Federal Credit Union based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.
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Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 81 | $14,375,000 | $177,469 | $0 | 0.00% |
For 2020, North Shore Federal Credit Union's most frequently originated type of loan was Conventional, with 81 originations.
Loan Reason
| Loan Reason | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Home Purchase | 33 | $5,825,000 | $176,515 | $0 | 0.00% |
| Cash Out Refi | 30 | $5,290,000 | $176,333 | $0 | 0.00% |
| Refi | 18 | $3,260,000 | $181,111 | $0 | 0.00% |
For 2020, North Shore Federal Credit Union's most frequently cited loan purpose was Home Purchase, with 33 originations. The 2nd most popular reason was Cash Out Refi, with 30 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Other | 81 | $14,375,000 | $177,469 | $0 | 0.00% |
For 2020, North Shore Federal Credit Union's most frequently cited loan duration was Other, with 81 originations.
Loan Sizing
2020 saw North Shore Federal Credit Union place emphasis on $100k-200k loans with 41 originations, totaling $6,135,000 in origination value.
Applicant Income
North Shore Federal Credit Union lent most frequently to those with incomes in the $50k-75k range, with 23 originations. The second most popular income band? $100k-150k, with 16 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Exempt% | 81 | $14,375,000 | $177,469 | $0 | 0.00% |
North Shore Federal Credit Union lent most frequently to those with DTI ratios of Exempt%, with 81 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications100.00%
North Shore Federal 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 |
|---|---|---|---|
| Exempt | 81 | $14,375,000 | $177,469 |
Occupancy Type Mix
| Dwelling Type | Originations | Total Value | Average Loan |
|---|---|---|---|
| Single Family (1-4 Units):Manufactured | 1 | $125,000 | $125,000 |
| Single Family (1-4 Units):Site-Built | 80 | $14,250,000 | $178,125 |
Complaints
| Bank Name | Product | Issue | 2020 CPFB Complaints | % of Total Issues |
|---|---|---|---|---|
| NORTHWEST BANCSHARES INC | Conventional home mortgage | Applying for a mortgage or refinancing an existing mortgage | 1 | 50.0% |
| NORTHWEST BANCSHARES INC | Conventional home mortgage | Trouble during payment process | 1 | 50.0% |