Harbor Pointe Credit Union Mortgage Rates, Fees & Info

Duluth, MN

LEI: 254900CCCPJ8S6GUIT87

Tax ID: 41-0226825

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Mortgage Data

Review & Overview

Harbor Pointe Credit Union is a smaller credit union specializing in Cash Out Refi and Refi loans. Harbor Pointe Credit Union has a high proportion of conventional loans. Their top markets by origination volume include: Duluth, Grand Rapids, and Minneapolis among others. We have data for 4 markets. (Some data included below & more in-depth data is available with an active subscription.)

Harbor Pointe 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.

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Originations

152

Origination Dollar Volume (All Markets)

$19,340,000

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
DULUTH, MN-WI (FHA|USDA|VA) 146 $18,330,000 $125,548 $0 0.00%
Grand Rapids, MN (FHA|USDA|VA) 2 $540,000 $270,000 $0 0.00%
Outside of Metro Areas 3 $345,000 $115,000 $0 0.00%
MINNEAPOLIS-ST. PAUL-BLOOMINGTON, MN-WI (FHA|USDA|VA) 1 $125,000 $125,000 $0 0.00%
Harbor Pointe Credit Union's top markets include Duluth, Grand Rapids, and Minneapolis among others.

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

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 152 $19,340,000 $127,237 $0 0.00%

    For 2021, Harbor Pointe Credit Union's most frequently originated type of loan was Conventional, with 152 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Cash Out Refi 75 $10,455,000 $139,400 $0 0.00%
    Refi 46 $5,390,000 $117,174 $0 0.00%
    Home Purchase 20 $2,760,000 $138,000 $0 0.00%
    Home Improvement 10 $660,000 $66,000 $0 0.00%
    Other 1 $75,000 $75,000 $0 0.00%

    For 2021, Harbor Pointe Credit Union's most frequently cited loan purpose was Cash Out Refi, with 75 originations. The 2nd most popular reason was Refi, with 46 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 152 $19,340,000 $127,237 $0 0.00%

    For 2021, Harbor Pointe Credit Union's most frequently cited loan duration was Other, with 152 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100k-200k 65 $8,685,000 $133,615 $0 0.00%
    $100,000 or less 64 $4,120,000 $64,375 $0 0.00%
    $200k-400k 20 $5,160,000 $258,000 $0 0.00%
    $400k-600k 3 $1,375,000 $458,333 $0 0.00%

    2021 saw Harbor Pointe Credit Union place emphasis on $100k-200k loans with 65 originations, totaling $8,685,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 33 $3,515,000 $106,515 $0 0.00%
    $150k-250k 30 $4,470,000 $149,000 $0 0.00%
    $100k-150k 27 $3,245,000 $120,185 $0 0.00%
    $50k or less 25 $2,125,000 $85,000 $0 0.00%
    $75k-100k 23 $2,955,000 $128,478 $0 0.00%
    $250k+ 11 $2,685,000 $244,091 $0 0.00%

    Harbor Pointe Credit Union lent most frequently to those with incomes in the $50k-75k range, with 33 originations. The second most popular income band? $150k-250k, with 30 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 152 $19,340,000 $127,237 $0 0.00%

    Harbor Pointe Credit Union lent most frequently to those with DTI ratios of Exempt%, with 152 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 143 $18,245,000 $127,587 $0 0.00%
    Not applicable 3 $345,000 $115,000 $0 0.00%
    Not provided 3 $325,000 $108,333 $0 0.00%
    American Indian 2 $300,000 $150,000 $0 0.00%
    Black 1 $125,000 $125,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    98.14%

    Harbor Pointe 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 origination
    97.37%

    Harbor Pointe Credit Union has an exceptionally high pick rate. They most likely have borrower friendly terms or other characteristics like being fast to close or are easy to work with.

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 152 $19,340,000 $127,237

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    152 $19,340,000 $127,237

    Complaints

    Bank Name Product Issue 2021 CPFB Complaints % of Total Issues
    Harbour Portfolio Advisors, LLC Other type of mortgage Struggling to pay mortgage 1 50.0%
    Harbour Portfolio Advisors, LLC Other type of mortgage Trouble during payment process 1 50.0%