Healthcare Associates Credit Union Mortgage Rates, Fees & Info

Naperville, IL

LEI: 254900E3R2YX26OH3128

Tax ID: 36-3047069

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Mortgage Data

  • Originations
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • Similar Lenders
  • 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

    Healthcare Associates Credit Union is a smaller credit union specializing in Refi and Home Purchase loans. Healthcare Associates Credit Union has a high proportion of conventional loans. Their top markets by origination volume include: Chicago, Cape Girardeau, Houston, Phoenix, and Kankakee among others. We have data for 17 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Healthcare Associates 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. Healthcare Associates 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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    Originations

    243

    Origination Dollar Volume (All Markets)

    $23,245,000

    Awards

    HealthCare Associates Credit Union 30 Year Conventional Loans silver HealthCare Associates Credit Union 30 Year Conventional Loans bronze
    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
    Chicago-Naperville-Elgin, IL-IN-WI (FHA|USDA|VA) 214 $20,950,000 $97,897 $2,130 4.78%
    CAPE GIRARDEAU, MO-IL (FHA|USDA|VA) 6 $350,000 $58,333 $0 4.93%
    HOUSTON-THE WOODLANDS-SUGAR LAND, TX (FHA|USDA|VA) 1 $295,000 $295,000 $3,934 3.63%
    PHOENIX-MESA-CHANDLER, AZ (FHA|USDA|VA) 2 $250,000 $125,000 $2,448 3.63%
    KANKAKEE, IL (FHA|USDA|VA) 1 $225,000 $225,000 $2,276 4.50%
    Outside of Metro Areas 2 $200,000 $100,000 $1,928 3.98%
    ST. LOUIS, MO-IL (FHA|USDA|VA) 5 $195,000 $39,000 $328 3.87%
    LAS VEGAS-HENDERSON-PARADISE, NV (FHA|USDA|VA) 1 $175,000 $175,000 $2,454 4.50%
    MINNEAPOLIS-ST. PAUL-BLOOMINGTON, MN-WI (FHA|USDA|VA) 1 $145,000 $145,000 $0 3.95%
    ROCKFORD, IL (FHA|USDA|VA) 3 $105,000 $35,000 $0 3.90%
    NILES, MI (FHA|USDA|VA) 1 $95,000 $95,000 $2,354 4.13%
    Rochelle, IL (FHA|USDA|VA) 1 $75,000 $75,000 $2,834 4.50%
    Effingham, IL (FHA|USDA|VA) 1 $65,000 $65,000 $0 5.95%
    CHAMPAIGN-URBANA, IL (FHA|USDA|VA) 1 $45,000 $45,000 $0 3.35%
    Ottawa, IL (FHA|USDA|VA) 1 $35,000 $35,000 $351 4.75%
    Dixon, IL (FHA|USDA|VA) 1 $25,000 $25,000 $0 4.75%
    PEORIA, IL (FHA|USDA|VA) 1 $15,000 $15,000 $130 7.08%
    Healthcare Associates Credit Union's top markets include Chicago, Cape Girardeau, Houston, Phoenix, and Kankakee among others.

    Their top states include:
  • Illinois (FHA|USDA|VA)
  • Indiana (FHA|USDA|VA)
  • Missouri (FHA|USDA|VA)
  • Texas (FHA|USDA|VA)
  • Arizona (FHA|USDA|VA)

    • Similar Lenders

    We use machine learning to identify the top lenders compared against HealthCare Associates Credit Union based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.

    Liberty Bank for Savings
    Similarity Rank: 85
    EDUCATORS CREDIT UNION
    Similarity Rank: 352
    UNITED
    Similarity Rank: 498
    Southern Lkaes Credit Union
    Similarity Rank: 513
    AMERITRUST MORTGAGE CORPORATION
    Similarity Rank: 618
    TECH Credit Union
    Similarity Rank: 856
    Community State Bank
    Similarity Rank: 888
    The Equitable Bank, S.S.B.
    Similarity Rank: 950
    DuPage Credit Union
    Similarity Rank: 1428
    American Financial Funding Corp.
    Similarity Rank: 1565

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 243 $23,245,000 $95,658 $2,078 4.73%

    For 2019, Healthcare Associates Credit Union's most frequently originated type of loan was Conventional, with 243 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Other 77 $3,295,000 $42,792 $372 5.33%
    Home Improvement 65 $3,135,000 $48,231 $186 5.05%
    Refi 59 $8,675,000 $147,034 $1,543 4.02%
    Home Purchase 23 $4,695,000 $204,130 $3,865 4.10%
    Cash Out Refi 19 $3,445,000 $181,316 $1,967 4.14%

    For 2019, Healthcare Associates Credit Union's most frequently cited loan purpose was Other, with 77 originations. The 2nd most popular reason was Home Improvement, with 65 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    5 Year 69 $2,735,000 $39,638 $239 4.59%
    10 Year 63 $3,535,000 $56,111 $382 5.45%
    15 Year 55 $6,575,000 $119,545 $1,952 4.62%
    30 Year 37 $8,965,000 $242,297 $2,958 4.00%
    Other 18 $1,170,000 $65,000 $366 4.65%
    20 Year 1 $265,000 $265,000 $0 3.63%

    For 2019, Healthcare Associates Credit Union's most frequently cited loan duration was 5 Year, with 69 originations. The 2nd most popular length was 10 Year, with 63 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 50 $11,390,000 $227,800

    Healthcare Associates Credit Union's average total fees were $2,958, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 50 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    3-4% 103 $14,655,000 $142,282
    4-5% 63 $4,965,000 $78,810
    5-6% 46 $2,540,000 $55,217
    6-7% 17 $605,000 $35,588
    7-8% 14 $480,000 $34,286

    During 2019, Healthcare Associates Credit Union's average interest rate for loans was 4.00%, while their most frequently originated rate bucket for loans was 3-4%, with 103 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 166 $7,290,000 $43,916 $567 5.07%
    $100k-200k 41 $5,925,000 $144,512 $2,657 4.07%
    $200k-400k 33 $8,755,000 $265,303 $2,663 3.92%
    $400k-600k 3 $1,275,000 $425,000 $3,525 3.88%

    2019 saw Healthcare Associates Credit Union place emphasis on $100,000 or less loans with 166 originations, totaling $7,290,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 66 $7,210,000 $109,242 $1,939 4.87%
    $150k-250k 55 $6,405,000 $116,455 $2,322 4.78%
    $75k-100k 55 $4,815,000 $87,545 $2,089 4.82%
    $50k-75k 37 $2,465,000 $66,622 $2,159 4.54%
    $50k or less 20 $1,160,000 $58,000 $1,646 4.33%
    $250k+ 10 $1,190,000 $119,000 $2,470 4.53%

    Healthcare Associates Credit Union lent most frequently to those with incomes in the $100k-150k range, with 66 originations. The second most popular income band? $150k-250k, with 55 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 67 $6,555,000 $97,836 $1,905 4.39%
    30-36% 50 $3,960,000 $79,200 $2,252 5.00%
    <20% 21 $2,445,000 $116,429 $2,673 3.90%
    37% 20 $1,730,000 $86,500 $2,104 4.94%
    42% 17 $2,245,000 $132,059 $1,943 5.09%
    40% 16 $1,260,000 $78,750 $946 4.83%
    41% 13 $1,175,000 $90,385 $1,925 4.79%
    38% 12 $1,220,000 $101,667 $1,562 5.03%
    39% 11 $605,000 $55,000 $4,155 5.54%
    36% 7 $885,000 $126,429 $2,706 4.32%
    43% 3 $545,000 $181,667 $2,049 4.13%
    48% 2 $120,000 $60,000 $0 6.10%
    50-60% 2 $60,000 $30,000 $0 6.10%
    44% 1 $405,000 $405,000 $1,984 4.25%
    45% 1 $35,000 $35,000 $0 5.95%

    Healthcare Associates Credit Union lent most frequently to those with DTI ratios of 20-30%, with 67 originations. The next most common DTI ratio? 30-36%, with 50 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 106 $12,540,000 $118,302 $2,602 4.64%
    Not provided 102 $7,190,000 $70,490 $1,082 4.86%
    Black 19 $1,685,000 $88,684 $1,467 4.91%
    Asian 9 $1,345,000 $149,444 $4,093 4.22%
    Filipino 5 $325,000 $65,000 $143 4.15%
    Asian Indian 2 $160,000 $80,000 $0 4.80%

    Approval Rates

    Total approvals of all applications
    72.27%

    Healthcare Associates Credit Union has a below average approval rate.

    Pick Rate

    Approvals leading to origination
    71.60%

    Healthcare Associates Credit Union has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 243 $23,245,000 $95,658

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Single Family (1-4 Units):Site-Built 243 $23,245,000 $95,658

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 58 $3,330,000 $57,414 $536 4.77%
    40-60% 22 $2,670,000 $121,364 $1,291 4.13%
    60-80% 37 $6,875,000 $185,811 $3,026 3.98%
    80-100% 27 $6,655,000 $246,481 $2,900 3.96%
    Under 20% 98 $3,680,000 $37,551 $215 5.35%