Primetrust Financial Federal Credit Union Mortgage Rates, Fees & Info

Muncie, IN

LEI: 254900HUD7SD8U5L3C11

Tax ID: 35-0889144

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

Jump to:

  • SimulatedRates™
  • Mortgage Calculator

    • 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

    Primetrust Financial Federal Credit Union is a smaller credit union specializing in Cash Out Refi loans. Primetrust Financial Federal Credit Union has a high proportion of conventional loans. Their top markets by origination volume include: Muncie, New Castle, and Indianapolis among others. We have data for 4 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Primetrust Financial Federal 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. Primetrust Financial Federal 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.

    Mortgage seekers: Choose your metro area here to explore the lowest fee & rate lenders.

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    SimulatedRates™

    Mortgage Type     		Simulated Rate Simulation Date
    30 Year Conventional Purchase 6.40% 5/4/24
    30 Year Cash-out Refi 6.03% 5/4/24
    15 Year Conventional Purchase 6.13% 5/4/24
    15 Year Conventional Refi 6.31% 5/4/24
    15 Year Cash-out Refi 6.31% 5/4/24
    These are simulated rates generated by our proprietary machine learning models. These are not guaranteed by the bank. They are our estimates based on a lender's past behaviors combined with current market conditions. Contact an individual lender for their actual rates. Our models use fixed rate terms for conforming loans, 700+ FICO, 10% down for FHA and 20% for conventional. These are based on consensus, historical data-- not advertised promotional rates.

    Primetrust Financial Federal Credit Union Mortgage Calculator






    Your Estimates

    Estimated Loan Payment: Update the calculator values and click calculate payment!

    This is not an official calculator from Primetrust Financial Federal Credit Union. It uses our SimulatedRate™ technology, basic math and reasonable assumptions to calculate mortgage payments derived from our simulations and your inputs.

    The default purchase price is the median sales price across the US for 2022Q4, per FRED.


    Originations

    57

    Origination Dollar Volume (All Markets)

    $5,425,000

    Awards

    PrimeTrust Financial Federal Credit Union 30 Year Conventional Loans gold PrimeTrust Financial Federal Credit Union 30 Year Conventional Loans gold PrimeTrust Financial Federal Credit Union 30 Year Conventional Loans gold PrimeTrust Financial Federal Credit Union 30 Year Conventional Loans bronze
    Show all (4) 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
    MUNCIE, IN (FHA|USDA|VA) 47 $4,455,000 $94,787 $1,135 4.43%
    Outside of Metro Areas 5 $575,000 $115,000 $1,307 3.43%
    New Castle, IN (FHA|USDA|VA) 2 $200,000 $100,000 $1,812 4.75%
    INDIANAPOLIS-CARMEL-ANDERSON, IN (FHA|USDA|VA) 3 $195,000 $65,000 $818 4.75%
    Primetrust Financial Federal Credit Union's top markets include Muncie, New Castle, and Indianapolis among others.

    Their top states include:
  • Indiana (FHA|USDA|VA)

    • Similar Lenders

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

    PrimeTrust Financial Federal Credit Union
    Similarity Rank: 8
    STAR Financial Bank
    Similarity Rank: 444
    First Merchants Bank
    Similarity Rank: 1184
    Old National Bank
    Similarity Rank: 1476
    AMERICAN MORTGAGE SERVICE COMPANY
    Similarity Rank: 1728
    Northwest Bank
    Similarity Rank: 1876
    MYCUMORTGAGE, LLC
    Similarity Rank: 1998
    Mortgage Research Center, LLC
    Similarity Rank: 2778
    OPEN MORTGAGE, LLC
    Similarity Rank: 3024
    GVC MORTGAGE, INC.
    Similarity Rank: 3627

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 57 $5,425,000 $95,175 $1,157 4.37%

    For 2022, Primetrust Financial Federal Credit Union's most frequently originated type of loan was Conventional, with 57 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Cash Out Refi 32 $3,620,000 $113,125 $1,428 3.85%
    Home Improvement 10 $390,000 $39,000 $348 5.01%
    Other 7 $305,000 $43,571 $438 5.52%
    Home Purchase 6 $990,000 $165,000 $1,788 5.10%
    Refi 2 $120,000 $60,000 $1,502 3.19%

    For 2022, Primetrust Financial Federal Credit Union's most frequently cited loan purpose was Cash Out Refi, with 32 originations. The 2nd most popular reason was Home Improvement, with 10 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    15 Year 20 $1,330,000 $66,500 $929 4.43%
    30 Year 20 $3,050,000 $152,500 $1,540 4.33%
    20 Year 8 $800,000 $100,000 $1,532 3.78%
    10 Year 7 $215,000 $30,714 $522 4.84%
    5 Year 2 $30,000 $15,000 $345 4.81%

    For 2022, Primetrust Financial Federal Credit Union's most frequently cited loan duration was 15 Year, with 20 originations. The 2nd most popular length was 30 Year, with 20 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 57 $5,425,000 $95,175

    Primetrust Financial Federal Credit Union's average total fees were $1,540, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 57 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    3-4% 18 $2,310,000 $128,333
    4-5% 11 $785,000 $71,364
    6-7% 10 $610,000 $61,000
    5-6% 9 $1,025,000 $113,889
    2.5-3% 8 $650,000 $81,250
    <2.5% 1 $45,000 $45,000

    During 2022, Primetrust Financial Federal Credit Union's average interest rate for loans was 4.33%, while their most frequently originated rate bucket for loans was 3-4%, with 18 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 36 $1,900,000 $52,778 $918 4.50%
    $100k-200k 16 $2,180,000 $136,250 $1,552 4.14%
    $200k-400k 5 $1,345,000 $269,000 $1,619 4.13%

    2022 saw Primetrust Financial Federal Credit Union place emphasis on $100,000 or less loans with 36 originations, totaling $1,900,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k or less 17 $1,165,000 $68,529 $1,114 4.51%
    $50k-75k 14 $980,000 $70,000 $1,081 3.97%
    $75k-100k 11 $1,555,000 $141,364 $1,451 4.68%
    $100k-150k 9 $1,135,000 $126,111 $1,329 4.10%
    $150k-250k 5 $405,000 $81,000 $514 5.00%
    $250k+ 1 $185,000 $185,000 $1,418 3.13%

    Primetrust Financial Federal Credit Union lent most frequently to those with incomes in the $50k or less range, with 17 originations. The second most popular income band? $50k-75k, with 14 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 19 $1,575,000 $82,895 $1,217 4.07%
    <20% 19 $1,845,000 $97,105 $1,206 4.20%
    30-36% 11 $1,005,000 $91,364 $1,079 4.69%
    39% 4 $260,000 $65,000 $666 5.25%
    41% 1 $385,000 $385,000 $1,883 5.88%
    36% 1 $175,000 $175,000 $1,528 5.88%
    37% 1 $55,000 $55,000 $483 4.25%
    38% 1 $125,000 $125,000 $1,507 3.13%

    Primetrust Financial Federal Credit Union lent most frequently to those with DTI ratios of 20-30%, with 19 originations. The next most common DTI ratio? <20%, with 19 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 48 $5,020,000 $104,583 $1,219 4.31%
    Black 7 $375,000 $53,571 $967 4.82%
    Asian 1 $15,000 $15,000 $338 4.25%
    Not provided 1 $15,000 $15,000 $345 4.00%

    Approval Rates

    Total approvals of all applications
    86.96%

    Primetrust Financial Federal Credit Union has an average approval rate.

    Pick Rate

    Approvals leading to origination
    77.19%

    Primetrust Financial Federal Credit Union has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 57 $5,425,000 $95,175

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    57 $5,425,000 $95,175

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 11 $605,000 $55,000 $840 4.44%
    40-60% 9 $975,000 $108,333 $1,559 4.19%
    60-80% 18 $2,640,000 $146,667 $1,571 3.92%
    80-100% 7 $765,000 $109,286 $1,368 4.13%
    Under 20% 10 $290,000 $29,000 $304 5.44%