Hercules First Federal Credit Union Mortgage Rates, Fees & Info
Salt Lake City, UTLEI: 254900GL9FITA8BCKE77
Tax ID: 87-0237696
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Mortgage Data
Review & Overview
Hercules First Federal Credit Union is a smaller credit union specializing in Refi and Cash Out Refi loans. Hercules First Federal Credit Union has a high proportion of conventional loans. Their top markets by origination volume include: Salt Lake City, Ogden, Provo, Cedar City, and Logan among others. We have data for 6 markets. (Some data included below & more in-depth data is available with an active subscription.)Hercules First Federal 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. They typically have relatively high rates.
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Originations
111Origination Dollar Volume (All Markets)
$24,345,000Top 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 |
|---|---|---|---|---|---|
| SALT LAKE CITY, UT (FHA|USDA|VA) | 88 | $19,410,000 | $220,568 | $0 | 38.94% |
| OGDEN-CLEARFIELD, UT (FHA|USDA|VA) | 10 | $2,730,000 | $273,000 | $0 | 3.26% |
| PROVO-OREM, UT (FHA|USDA|VA) | 7 | $1,375,000 | $196,429 | $0 | 3.60% |
| Outside of Metro Areas | 4 | $530,000 | $132,500 | $0 | 5.18% |
| Cedar City, UT (FHA|USDA|VA) | 1 | $255,000 | $255,000 | $0 | 3.63% |
| LOGAN, UT-ID (FHA|USDA|VA) | 1 | $45,000 | $45,000 | $0 | 2.88% |
Similar Lenders
We use machine learning to identify the top lenders compared against Hercules First Federal Credit Union based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.
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Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 111 | $24,345,000 | $219,324 | $0 | 31.64% |
For 2020, Hercules First Federal Credit Union's most frequently originated type of loan was Conventional, with 111 originations.
Loan Reason
For 2020, Hercules First Federal Credit Union's most frequently cited loan purpose was Refi, with 40 originations. The 2nd most popular reason was Cash Out Refi, with 34 originations.
Loan Duration/Length
For 2020, Hercules First Federal Credit Union's most frequently cited loan duration was 30 Year, with 53 originations. The 2nd most popular length was 15 Year, with 34 originations.
Origination Fees/Closing Costs
Hercules First Federal Credit Union's average total fees were $0, while their most frequently occuring range of origination fees (closing costs) were in the $2k-3k bucket, with 34 originations.
Interest Rates
During 2020, Hercules First Federal Credit Union's average interest rate for loans was 62.12%, while their most frequently originated rate bucket for loans was 2.5-3%, with 49 originations.
Loan Sizing
2020 saw Hercules First Federal Credit Union place emphasis on $200k-400k loans with 55 originations, totaling $15,395,000 in origination value.
Applicant Income
Hercules First Federal Credit Union lent most frequently to those with incomes in the $150k-250k range, with 30 originations. The second most popular income band? $100k-150k, with 25 originations.
Applicant Debt to Income Ratio
Hercules First Federal Credit Union lent most frequently to those with DTI ratios of 20-30%, with 40 originations. The next most common DTI ratio? <20%, with 26 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications95.73%
Hercules First Federal 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 origination99.10%
Hercules First Federal 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 |
|---|---|---|---|
| 1036.0 | 1 | $165,000 | $165,000 |
| 1127.0 | 1 | $75,000 | $75,000 |
| 1410.0 | 1 | $115,000 | $115,000 |
| 154.0 | 1 | $85,000 | $85,000 |
| 1612.0 | 1 | $135,000 | $135,000 |
| 1625.0 | 1 | $95,000 | $95,000 |
| 1676.0 | 1 | $95,000 | $95,000 |
| 1680.0 | 1 | $155,000 | $155,000 |
| 1770.0 | 1 | $155,000 | $155,000 |
| 1788.0 | 1 | $115,000 | $115,000 |
| 1866.39 | 1 | $115,000 | $115,000 |
| 200.0 | 2 | $100,000 | $50,000 |
| 202.0 | 1 | $55,000 | $55,000 |
| 2111.0 | 1 | $145,000 | $145,000 |
| 2153.0 | 1 | $195,000 | $195,000 |
| 2175.0 | 1 | $225,000 | $225,000 |
| 2179.0 | 1 | $145,000 | $145,000 |
| 2194.0 | 1 | $145,000 | $145,000 |
| 2272.83 | 1 | $155,000 | $155,000 |
| 2280.0 | 1 | $195,000 | $195,000 |
| 232.0 | 1 | $65,000 | $65,000 |
| 2345.0 | 1 | $205,000 | $205,000 |
| 2402.74 | 1 | $225,000 | $225,000 |
| 2444.0 | 1 | $165,000 | $165,000 |
| 2449.0 | 1 | $165,000 | $165,000 |
| 2485.72 | 1 | $165,000 | $165,000 |
| 2533.0 | 1 | $235,000 | $235,000 |
| 2556.0 | 1 | $185,000 | $185,000 |
| 2621.0 | 1 | $185,000 | $185,000 |
| 2667.0 | 1 | $265,000 | $265,000 |
| 2745.0 | 1 | $185,000 | $185,000 |
| 2755.0 | 1 | $365,000 | $365,000 |
| 2772.0 | 1 | $175,000 | $175,000 |
| 2834.0 | 1 | $255,000 | $255,000 |
| 2851.17 | 1 | $145,000 | $145,000 |
| 2852.0 | 1 | $195,000 | $195,000 |
| 2907.46 | 1 | $255,000 | $255,000 |
| 3000.0 | 1 | $205,000 | $205,000 |
| 3003.92 | 1 | $195,000 | $195,000 |
| 3011.0 | 1 | $215,000 | $215,000 |
| 3055.0 | 1 | $215,000 | $215,000 |
| 3059.0 | 1 | $175,000 | $175,000 |
| 3073.0 | 1 | $215,000 | $215,000 |
| 3076.0 | 1 | $195,000 | $195,000 |
| 3112.74 | 1 | $285,000 | $285,000 |
| 3121.0 | 1 | $295,000 | $295,000 |
| 3152.0 | 1 | $215,000 | $215,000 |
| 3161.0 | 1 | $225,000 | $225,000 |
| 3220.0 | 1 | $225,000 | $225,000 |
| 3222.0 | 1 | $195,000 | $195,000 |
| 3259.0 | 1 | $305,000 | $305,000 |
| 3325.0 | 1 | $235,000 | $235,000 |
| 3328.0 | 1 | $235,000 | $235,000 |
| 3333.15 | 1 | $205,000 | $205,000 |
| 3373.0 | 1 | $235,000 | $235,000 |
| 3377.0 | 1 | $245,000 | $245,000 |
| 3477.8 | 1 | $245,000 | $245,000 |
| 3486.0 | 1 | $245,000 | $245,000 |
| 3486.9 | 1 | $245,000 | $245,000 |
| 3526.0 | 1 | $255,000 | $255,000 |
| 3619.0 | 1 | $255,000 | $255,000 |
| 3786.0 | 1 | $275,000 | $275,000 |
| 3850.01 | 1 | $245,000 | $245,000 |
| 3856.0 | 1 | $275,000 | $275,000 |
| 39.0 | 1 | $35,000 | $35,000 |
| 3913.0 | 1 | $275,000 | $275,000 |
| 3933.0 | 1 | $285,000 | $285,000 |
| 4042.6 | 1 | $245,000 | $245,000 |
| 4068.0 | 1 | $295,000 | $295,000 |
| 4093.0 | 1 | $295,000 | $295,000 |
| 4212.0 | 1 | $305,000 | $305,000 |
| 4220.0 | 1 | $305,000 | $305,000 |
| 427.0 | 1 | $25,000 | $25,000 |
| 4290.0 | 1 | $315,000 | $315,000 |
| 4296.0 | 1 | $285,000 | $285,000 |
| 4427.0 | 1 | $365,000 | $365,000 |
| 4454.0 | 2 | $650,000 | $325,000 |
| 4511.0 | 1 | $335,000 | $335,000 |
| 4577.85 | 1 | $425,000 | $425,000 |
| 460.0 | 1 | $45,000 | $45,000 |
| 488.0 | 1 | $55,000 | $55,000 |
| 5067.0 | 1 | $375,000 | $375,000 |
| 508.0 | 1 | $55,000 | $55,000 |
| 5132.0 | 1 | $375,000 | $375,000 |
| 5144.31 | 1 | $385,000 | $385,000 |
| 5364.0 | 1 | $395,000 | $395,000 |
| 5703.64 | 1 | $305,000 | $305,000 |
| 5752.0 | 1 | $425,000 | $425,000 |
| 5940.0 | 1 | $365,000 | $365,000 |
| 6114.0 | 1 | $415,000 | $415,000 |
| 6128.0 | 1 | $365,000 | $365,000 |
| 6164.0 | 1 | $435,000 | $435,000 |
| 6214.0 | 1 | $435,000 | $435,000 |
| 6308.0 | 1 | $445,000 | $445,000 |
| 6835.0 | 1 | $495,000 | $495,000 |
| 6864.0 | 1 | $385,000 | $385,000 |
| 80.0 | 2 | $190,000 | $95,000 |
| 815.0 | 1 | $55,000 | $55,000 |
| 875.0 | 1 | $75,000 | $75,000 |
| NA | 9 | $1,375,000 | $152,778 |