Indianhead Credit Union Mortgage Rates, Fees & Info

Spooner, WI

LEI: 254900C1MQVQQR44R744

Tax ID: 39-6049800

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
  • 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

    Indianhead Credit Union is a smaller credit union specializing in Cash Out Refi, Refi, and Home Purchase loans. Indianhead Credit Union has a high proportion of conventional loans. They have a a low proportion of FHA loans. (This may mean they shy away from first time homebuyers.) 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 an above average pick rate when compared to similar lenders. Indianhead Credit Union is typically a low fee lender. (We use the term "fees" to include things like closing costs and other costs incurred by borrowers-- whether they are paid out of pocket or rolled into the loan.) They typically have about average rates.

    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% 11/21/24
    30 Year Cash-out Refi 6.90% 11/21/24
    15 Year Conventional Purchase 6.52% 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.

    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

    106

    Origination Dollar Volume (All Markets)

    $12,200,000

    Awards

    Indianhead Credit Union 30 Year Conventional Loans gold Indianhead Credit Union 30 Year Conventional Loans gold
    Show all (2) awards

    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 90 $10,100,000 $112,222 $1,149 3.38%
    DULUTH, MN-WI (FHA|USDA|VA) 16 $2,100,000 $131,250 $1,350 3.45%
    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 105 $12,195,000 $116,143 $1,189 3.37%
    FHA 1 $5,000 $5,000 $189 5.50%

    For 2020, Indianhead Credit Union's most frequently originated type of loan was Conventional, with 105 originations. Their 2nd most popular type was FHA, with 1 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Cash Out Refi 49 $5,525,000 $112,755 $1,057 3.39%
    Refi 32 $4,050,000 $126,563 $1,102 3.04%
    Home Purchase 22 $2,580,000 $117,273 $1,695 3.65%
    Home Improvement 3 $45,000 $15,000 $219 5.00%

    For 2020, Indianhead Credit Union's most frequently cited loan purpose was Cash Out Refi, with 49 originations. The 2nd most popular reason was Refi, with 32 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 40 $4,970,000 $124,250 $1,393 3.49%
    15 Year 37 $3,965,000 $107,162 $1,102 3.10%
    20 Year 19 $2,805,000 $147,632 $1,280 3.31%
    5 Year 4 $290,000 $72,500 $563 4.48%
    Other 4 $130,000 $32,500 $365 3.59%
    10 Year 2 $40,000 $20,000 $239 4.75%

    For 2020, Indianhead Credit Union's most frequently cited loan duration was 30 Year, with 40 originations. The 2nd most popular length was 15 Year, with 37 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 106 $12,200,000 $115,094

    Indianhead Credit Union's average total fees were $1,393, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 106 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    2.5-3% 37 $5,735,000 $155,000
    4-5% 29 $2,295,000 $79,138
    <2.5% 26 $3,230,000 $124,231
    3-4% 12 $920,000 $76,667
    5-6% 2 $20,000 $10,000

    During 2020, Indianhead Credit Union's average interest rate for loans was 3.49%, while their most frequently originated rate bucket for loans was 2.5-3%, with 37 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100k-200k 51 $7,075,000 $138,725 $1,304 3.21%
    $100,000 or less 46 $2,730,000 $59,348 $1,001 3.70%
    $200k-400k 9 $2,395,000 $266,111 $1,387 2.79%

    2020 saw Indianhead Credit Union place emphasis on $100k-200k loans with 51 originations, totaling $7,075,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 28 $4,210,000 $150,357 $1,219 3.38%
    $50k-75k 27 $2,905,000 $107,593 $1,238 3.42%
    $75k-100k 22 $2,220,000 $100,909 $1,082 3.40%
    $50k or less 21 $1,705,000 $81,190 $1,143 3.43%
    $150k-250k 3 $725,000 $241,667 $1,552 2.88%
    $250k+ 1 $165,000 $165,000 $1,249 2.50%

    Indianhead Credit Union lent most frequently to those with incomes in the $100k-150k range, with 28 originations. The second most popular income band? $50k-75k, with 27 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 36 $4,130,000 $114,722 $1,214 3.37%
    30-36% 22 $2,570,000 $116,818 $1,090 3.59%
    <20% 16 $1,280,000 $80,000 $1,260 3.26%
    37% 6 $990,000 $165,000 $1,278 3.17%
    40% 5 $615,000 $123,000 $1,227 3.13%
    38% 4 $630,000 $157,500 $1,360 2.88%
    39% 3 $525,000 $175,000 $1,188 3.50%
    41% 3 $405,000 $135,000 $1,307 3.21%
    42% 3 $485,000 $161,667 $1,209 2.63%
    36% 1 $145,000 $145,000 $1,174 4.00%

    Indianhead Credit Union lent most frequently to those with DTI ratios of 20-30%, with 36 originations. The next most common DTI ratio? 30-36%, with 22 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 102 $11,870,000 $116,373 $1,174 3.38%
    American Indian 2 $220,000 $110,000 $1,560 3.00%
    Not provided 2 $110,000 $55,000 $1,061 4.00%

    Approval Rates

    Total approvals of all applications
    93.70%

    Indianhead Credit Union has an average approval rate.

    Pick Rate

    Approvals leading to origination
    90.57%

    Indianhead Credit Union has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 106 $12,200,000 $115,094

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Single Family (1-4 Units):Manufactured 6 $460,000 $76,667
    Single Family (1-4 Units):Site-Built 100 $11,740,000 $117,400

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 10 $740,000 $74,000 $896 3.23%
    40-60% 25 $2,495,000 $99,800 $1,151 3.38%
    60-80% 48 $7,230,000 $150,625 $1,303 3.16%
    80-100% 12 $1,260,000 $105,000 $1,530 3.42%
    Under 20% 3 $45,000 $15,000 $185 5.17%