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 Home Purchase loans. Indianhead Credit Union has a high proportion of conventional loans. Indianhead Credit Union has an average proportion of conventional loans. Their top markets by origination volume include: Duluth, Eau Claire, and Minneapolis among others. We have data for 4 markets. (Some data included below & more in-depth data is available with an active subscription.)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.
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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
54Origination Dollar Volume (All Markets)
$6,130,000Top 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 | 48 | $5,320,000 | $110,833 | $0 | 0.00% |
| DULUTH, MN-WI (FHA|USDA|VA) | 4 | $580,000 | $145,000 | $0 | 0.00% |
| EAU CLAIRE, WI (FHA|USDA|VA) | 1 | $205,000 | $205,000 | $0 | 0.00% |
| MINNEAPOLIS-ST. PAUL-BLOOMINGTON, MN-WI (FHA|USDA|VA) | 1 | $25,000 | $25,000 | $0 | 0.00% |
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 46 | $5,290,000 | $115,000 | $0 | 0.00% |
| Conventional | 8 | $840,000 | $105,000 | $0 | 0.00% |
For 2022, Indianhead Credit Union's most frequently originated type of loan was Conventional, with 46 originations. Their 2nd most popular type was Conventional, with 8 originations.
Loan Reason
For 2022, Indianhead Credit Union's most frequently cited loan purpose was Cash Out Refi, with 21 originations. The 2nd most popular reason was Home Purchase, with 15 originations.
Loan Duration/Length
For 2022, Indianhead Credit Union's most frequently cited loan duration was Other, with 46 originations. The 2nd most popular length was 30 Year, with 4 originations.
Loan Sizing
2022 saw Indianhead Credit Union place emphasis on $100,000 or less loans with 29 originations, totaling $1,505,000 in origination value.
Applicant Income
Indianhead Credit Union lent most frequently to those with incomes in the $50k or less range, with 15 originations. The second most popular income band? $50k-75k, with 12 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Exempt% | 46 | $5,290,000 | $115,000 | $0 | 0.00% |
| <20% | 3 | $295,000 | $98,333 | $0 | 0.00% |
Indianhead Credit Union lent most frequently to those with DTI ratios of Exempt%, with 46 originations. The next most common DTI ratio? <20%, with 3 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications94.03%
Indianhead Credit Union has an average approval rate.
Pick Rate
Approvals leading to origination83.33%
Indianhead Credit Union has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| Exempt | 46 | $5,290,000 | $115,000 |
| NA | 8 | $840,000 | $105,000 |
Complaints
| Bank Name | Product | Issue | 2022 CPFB Complaints | % of Total Issues |
|---|---|---|---|---|
| INDIANAPOLIS NEIGHBORHOOD HOUSING PARTNERSHIP | Conventional home mortgage | Struggling to pay mortgage | 1 | 100.0% |