Healthcare Associates Credit Union Mortgage Rates, Fees & Info

Naperville, IL

LEI: 254900E3R2YX26OH3128

Tax ID: 36-3047069

Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data

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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 loans. Healthcare Associates Credit Union has a high proportion of conventional loans. Their top markets by origination volume include: Chicago, Louisville, Hannibal, Ottawa, and St. Louis among others. We have data for 10 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Healthcare Associates Credit Union has a below 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

    154

    Origination Dollar Volume (All Markets)

    $14,580,000

    Awards

    HealthCare Associates Credit Union 30 Year Conventional Loans bronze
    Show all (1) 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) 143 $13,905,000 $97,238 $612 4.38%
    LOUISVILLE, KY (FHA|USDA|VA) 1 $175,000 $175,000 $2,615 2.50%
    Hannibal, MO (FHA|USDA|VA) 1 $125,000 $125,000 $0 3.95%
    Ottawa, IL (FHA|USDA|VA) 1 $75,000 $75,000 $0 3.95%
    ST. LOUIS, MO-IL (FHA|USDA|VA) 2 $70,000 $35,000 $83 4.80%
    Outside of Metro Areas 2 $60,000 $30,000 $0 5.10%
    KANKAKEE, IL (FHA|USDA|VA) 1 $55,000 $55,000 $236 3.35%
    ROCKFORD, IL (FHA|USDA|VA) 1 $45,000 $45,000 $184 3.85%
    Effingham, IL (FHA|USDA|VA) 1 $35,000 $35,000 $0 4.25%
    INDIANAPOLIS-CARMEL-ANDERSON, IN (FHA|USDA|VA) 1 $35,000 $35,000 $0 6.88%
    Healthcare Associates Credit Union's top markets include Chicago, Louisville, Hannibal, Ottawa, and St. Louis among others.

    Their top states include:
  • Illinois (FHA|USDA|VA)
  • Indiana (FHA|USDA|VA)
  • Kentucky (FHA|USDA|VA)
  • Missouri (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: 312
    Glenview State Bank
    Similarity Rank: 312
    CROWN MORTGAGE COMPANY
    Similarity Rank: 627
    AMERITRUST MORTGAGE CORPORATION
    Similarity Rank: 648
    The Equitable Bank, S.S.B.
    Similarity Rank: 820
    RUHL MORTGAGE, LLC
    Similarity Rank: 988
    United Community Bank
    Similarity Rank: 1360
    NEW FED MORTGAGE, CORP.
    Similarity Rank: 1610
    DuPage Credit Union
    Similarity Rank: 1824
    LAKE MORTGAGE COMPANY INC
    Similarity Rank: 1841

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 154 $14,580,000 $94,675 $588 4.38%

    For 2020, Healthcare Associates Credit Union's most frequently originated type of loan was Conventional, with 154 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Refi 56 $6,890,000 $123,036 $662 3.96%
    Other 46 $2,160,000 $46,957 $27 4.97%
    Home Improvement 30 $1,440,000 $48,000 $29 4.88%
    Cash Out Refi 16 $2,760,000 $172,500 $1,524 3.60%
    Home Purchase 6 $1,330,000 $221,667 $4,658 3.50%

    For 2020, Healthcare Associates Credit Union's most frequently cited loan purpose was Refi, with 56 originations. The 2nd most popular reason was Other, with 46 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    5 Year 44 $1,810,000 $41,136 $46 4.44%
    10 Year 42 $2,490,000 $59,286 $36 4.97%
    15 Year 38 $4,830,000 $127,105 $759 3.90%
    30 Year 19 $4,375,000 $230,263 $2,858 3.76%
    Other 9 $595,000 $66,111 $61 5.05%
    20 Year 2 $480,000 $240,000 $2,838 2.94%

    For 2020, Healthcare Associates Credit Union's most frequently cited loan duration was 5 Year, with 44 originations. The 2nd most popular length was 10 Year, with 42 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 151 $14,025,000 $92,881
    $1k-2k 2 $430,000 $215,000

    Healthcare Associates Credit Union's average total fees were $2,858, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 151 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    3-4% 65 $8,455,000 $130,077
    4-5% 44 $2,830,000 $64,318
    5-6% 22 $1,000,000 $45,455
    6-7% 8 $220,000 $27,500
    2.5-3% 7 $1,255,000 $179,286
    <2.5% 4 $690,000 $172,500
    7-8% 4 $130,000 $32,500

    During 2020, Healthcare Associates Credit Union's average interest rate for loans was 3.76%, while their most frequently originated rate bucket for loans was 3-4%, with 65 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 102 $4,790,000 $46,961 $110 4.74%
    $100k-200k 34 $4,890,000 $143,824 $955 3.77%
    $200k-400k 18 $4,900,000 $272,222 $2,631 3.50%

    2020 saw Healthcare Associates Credit Union place emphasis on $100,000 or less loans with 102 originations, totaling $4,790,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 56 $6,560,000 $117,143 $737 4.44%
    $150k-250k 32 $2,850,000 $89,063 $422 4.50%
    $75k-100k 29 $2,145,000 $73,966 $423 4.32%
    $50k-75k 25 $1,725,000 $69,000 $567 4.36%
    $50k or less 7 $355,000 $50,714 $767 4.38%
    $250k+ 3 $545,000 $181,667 $696 3.63%

    Healthcare Associates Credit Union lent most frequently to those with incomes in the $100k-150k range, with 56 originations. The second most popular income band? $150k-250k, with 32 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 46 $4,750,000 $103,261 $779 3.99%
    30-36% 29 $2,145,000 $73,966 $263 4.72%
    <20% 15 $1,715,000 $114,333 $1,067 3.80%
    41% 11 $915,000 $83,182 $175 5.05%
    36% 10 $840,000 $84,000 $241 4.56%
    38% 9 $1,135,000 $126,111 $1,024 4.20%
    39% 8 $830,000 $103,750 $831 4.07%
    42% 8 $1,060,000 $132,500 $883 4.26%
    40% 6 $210,000 $35,000 $110 5.74%
    37% 5 $205,000 $41,000 $79 4.92%
    49% 1 $35,000 $35,000 $0 3.75%
    >60% 1 $155,000 $155,000 $0 3.95%
    43% 1 $305,000 $305,000 $2,241 4.13%
    44% 1 $125,000 $125,000 $0 4.75%
    45% 1 $55,000 $55,000 $0 4.75%
    47% 1 $75,000 $75,000 $0 5.45%
    48% 1 $25,000 $25,000 $0 5.95%

    Healthcare Associates Credit Union lent most frequently to those with DTI ratios of 20-30%, with 46 originations. The next most common DTI ratio? 30-36%, with 29 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 48 $6,480,000 $135,000 $1,287 4.07%
    Not provided 86 $5,740,000 $66,744 $138 4.56%
    Black 9 $905,000 $100,556 $501 4.45%
    Asian 5 $795,000 $159,000 $1,968 4.04%
    Filipino 6 $660,000 $110,000 $374 4.53%

    Approval Rates

    Total approvals of all applications
    48.26%

    Healthcare Associates Credit Union has a low approval rate. They may have poor market targeting or stringent lending standards.

    Pick Rate

    Approvals leading to origination
    61.04%

    Healthcare Associates Credit Union has a low pick rate. They may have issues with closing loans or may approve everyone, but with onerous loan terms.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 154 $14,580,000 $94,675

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Single Family (1-4 Units):Site-Built 154 $14,580,000 $94,675

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 36 $2,370,000 $65,833 $26 4.42%
    40-60% 14 $1,360,000 $97,143 $369 3.86%
    60-80% 36 $6,320,000 $175,556 $1,478 3.65%
    80-100% 11 $2,465,000 $224,091 $2,689 3.49%
    Under 20% 57 $2,065,000 $36,228 $46 5.13%