Indianhead Credit Union Mortgage Rates, Fees & Info
Spooner, WILEI: 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 and Refi loans. Indianhead Credit Union has a high proportion of conventional loans. Their top (well, only) market is Duluth.Indianhead Credit Union has an average approval rate when compared to the average across all lenders. They have a below average pick rate when compared to similar lenders.
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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| 30 Year Conventional Purchase | 7.06% | 4/28/24 |
| 30 Year Cash-out Refi | 6.90% | 4/28/24 |
| 15 Year Conventional Purchase | 6.52% | 4/28/24 |
| 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
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
73Origination Dollar Volume (All Markets)
$8,505,000Top 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 | 58 | $6,450,000 | $111,207 | $0 | 0.00% |
| DULUTH, MN-WI (FHA|USDA|VA) | 15 | $2,055,000 | $137,000 | $0 | 0.00% |
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 73 | $8,505,000 | $116,507 | $0 | 0.00% |
For 2021, Indianhead Credit Union's most frequently originated type of loan was Conventional, with 73 originations.
Loan Reason
For 2021, Indianhead Credit Union's most frequently cited loan purpose was Cash Out Refi, with 35 originations. The 2nd most popular reason was Refi, with 17 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Other | 73 | $8,505,000 | $116,507 | $0 | 0.00% |
For 2021, Indianhead Credit Union's most frequently cited loan duration was Other, with 73 originations.
Loan Sizing
2021 saw Indianhead Credit Union place emphasis on $100,000 or less loans with 38 originations, totaling $2,190,000 in origination value.
Applicant Income
Indianhead Credit Union lent most frequently to those with incomes in the $50k-75k range, with 22 originations. The second most popular income band? $75k-100k, with 17 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Exempt% | 73 | $8,505,000 | $116,507 | $0 | 0.00% |
Indianhead Credit Union lent most frequently to those with DTI ratios of Exempt%, with 73 originations.
Ethnicity Mix
| Applicant Ethnicity | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| White | 73 | $8,505,000 | $116,507 | $0 | 0.00% |
Approval Rates
Total approvals of all applications89.69%
Indianhead Credit Union has an average approval rate.
Pick Rate
Approvals leading to origination80.82%
Indianhead Credit Union has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| Exempt | 73 | $8,505,000 | $116,507 |
Complaints
| Bank Name | Product | Issue | 2021 CPFB Complaints | % of Total Issues |
|---|---|---|---|---|
| Indian River County Habitat for Humanity, Inc. | Other type of mortgage | Struggling to pay mortgage | 1 | 100.0% |