Indianhead Credit Union Mortgage Rates, Fees & Info

Spooner, WI

LEI: 254900C1MQVQQR44R744

Tax ID: 39-6049800

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Mortgage Data

Review & Overview

Indianhead Credit Union is a smaller credit union specializing in Cash Out Refi loans. Indianhead Credit Union has a high proportion of conventional loans. Their top (well, only) market is Duluth.

Indianhead 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
30 Year Conventional Purchase 7.06% 12/17/24
30 Year Cash-out Refi 6.90% 12/17/24
15 Year Conventional Purchase 6.52% 12/17/24
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.

Indianhead Credit Union Mortgage Calculator






Your Estimates

Estimated Loan Payment: Update the calculator values and click calculate payment!

This is not an official calculator from Indianhead 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

37

Origination Dollar Volume (All Markets)

$3,345,000

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
Outside of Metro Areas 33 $2,985,000 $90,455 $0 0.00%
DULUTH, MN-WI (FHA|USDA|VA) 4 $360,000 $90,000 $0 0.00%
Indianhead Credit Union's top markets include and Duluth among others.

Their top states include:
  • Wisconsin (FHA|USDA|VA)
  • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 37 $3,345,000 $90,405 $0 0.00%

    For 2023, Indianhead Credit Union's most frequently originated type of loan was Conventional, with 37 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Cash Out Refi 18 $1,820,000 $101,111 $0 0.00%
    Home Purchase 5 $445,000 $89,000 $0 0.00%
    Other 5 $225,000 $45,000 $0 0.00%
    Refi 5 $485,000 $97,000 $0 0.00%
    Home Improvement 4 $370,000 $92,500 $0 0.00%

    For 2023, Indianhead Credit Union's most frequently cited loan purpose was Cash Out Refi, with 18 originations. The 2nd most popular reason was Home Purchase, with 5 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 37 $3,345,000 $90,405 $0 0.00%

    For 2023, Indianhead Credit Union's most frequently cited loan duration was Other, with 37 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 23 $995,000 $43,261 $0 0.00%
    $100k-200k 11 $1,605,000 $145,909 $0 0.00%
    $200k-400k 3 $745,000 $248,333 $0 0.00%

    2023 saw Indianhead Credit Union place emphasis on $100,000 or less loans with 23 originations, totaling $995,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 11 $935,000 $85,000 $0 0.00%
    $50k or less 10 $530,000 $53,000 $0 0.00%
    $75k-100k 9 $885,000 $98,333 $0 0.00%
    $100k-150k 6 $970,000 $161,667 $0 0.00%
    $150k-250k 1 $25,000 $25,000 $0 0.00%

    Indianhead Credit Union lent most frequently to those with incomes in the $50k-75k range, with 11 originations. The second most popular income band? $50k or less, with 10 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 37 $3,345,000 $90,405 $0 0.00%

    Indianhead Credit Union lent most frequently to those with DTI ratios of Exempt%, with 37 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 37 $3,345,000 $90,405 $0 0.00%

    Approval Rates

    Total approvals of all applications
    92.00%

    Indianhead Credit Union has an average approval rate.

    Pick Rate

    Approvals leading to origination
    75.68%

    Indianhead Credit Union has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 37 $3,345,000 $90,405

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    37 $3,345,000 $90,405