Harbor Pointe Credit Union Mortgage Rates, Fees & Info
Duluth, MNLEI: 254900CCCPJ8S6GUIT87
Tax ID: 41-0226825
Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data
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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
152Origination Dollar Volume (All Markets)
$19,340,000Top 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 |
|---|---|---|---|---|---|
| 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% |
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
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
2021 saw Harbor Pointe Credit Union place emphasis on $100k-200k loans with 65 originations, totaling $8,685,000 in origination value.
Applicant Income
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
Approval Rates
Total approvals of all applications98.14%
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 origination97.37%
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 |
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% |