Iq Credit Union Mortgage Rates, Fees & Info

Vancouver, WA

LEI: 254900N49YI2HHKDPS92

Tax ID: 91-0576399

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

    Iq Credit Union is a smaller credit union specializing in Cash Out Refi loans. Iq Credit Union has a high proportion of conventional loans. Their top markets by origination volume include: Portland, Longview, Eugene, Seattle, and Centralia among others. We have data for 23 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Iq 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. Iq 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.

    Mortgage professionals: We have various tools to make your lives easier. Contact us to see how we can help with your market research, analytics or advertising needs.

    SimulatedRates™

    Mortgage Type     		Simulated Rate Simulation Date
    Home Equity Line of Credit (HELOC) 5.70% 4/21/24
    30 Year Conventional Purchase 6.33% 4/21/24
    30 Year Conventional Refi 6.40% 4/21/24
    30 Year Cash-out Refi 6.41% 4/21/24
    15 Year Conventional Purchase 6.08% 4/21/24
    15 Year Conventional Refi 5.67% 4/21/24
    15 Year Cash-out Refi 5.67% 4/21/24
    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.

    Iq Credit Union Mortgage Calculator






    Your Estimates

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

    This is not an official calculator from Iq 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

    1,506

    Origination Dollar Volume (All Markets)

    $261,800,000
    Show all (5) 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
    PORTLAND-VANCOUVER-HILLSBORO, OR-WA (FHA|USDA|VA) 1,400 $237,910,000 $169,936 $2,897 4.91%
    LONGVIEW, WA (FHA|USDA|VA) 43 $10,805,000 $251,279 $2,978 5.26%
    EUGENE-SPRINGFIELD, OR (FHA|USDA|VA) 5 $4,175,000 $835,000 $4,916 4.85%
    Seattle-Tacoma-Bellevue, WA (FHA|USDA|VA) 16 $2,930,000 $183,125 $3,062 5.12%
    Outside of Metro Areas 14 $1,900,000 $135,714 $3,078 4.53%
    Centralia, WA (FHA|USDA|VA) 4 $740,000 $185,000 $2,541 4.63%
    KENNEWICK-RICHLAND, WA (FHA|USDA|VA) 2 $650,000 $325,000 $2,919 3.69%
    Newport, OR (FHA|USDA|VA) 2 $410,000 $205,000 $2,817 3.38%
    Ellensburg, WA (FHA|USDA|VA) 1 $285,000 $285,000 $2,664 4.75%
    Astoria, OR (FHA|USDA|VA) 2 $270,000 $135,000 $3,033 3.50%
    SPOKANE-SPOKANE VALLEY, WA (FHA|USDA|VA) 2 $270,000 $135,000 $3,450 3.44%
    BEND, OR (FHA|USDA|VA) 2 $260,000 $130,000 $3,650 4.75%
    MOUNT VERNON-ANACORTES, WA (FHA|USDA|VA) 2 $250,000 $125,000 $2,842 4.94%
    Aberdeen, WA (FHA|USDA|VA) 1 $215,000 $215,000 $2,726 3.88%
    PHOENIX-MESA-CHANDLER, AZ (FHA|USDA|VA) 1 $205,000 $205,000 $2,387 4.00%
    ALBANY-LEBANON, OR (FHA|USDA|VA) 1 $155,000 $155,000 $3,086 3.38%
    BREMERTON-SILVERDALE-PORT ORCHARD, WA (FHA|USDA|VA) 2 $140,000 $70,000 $0 5.25%
    Pullman, WA (FHA|USDA|VA) 1 $75,000 $75,000 $2,664 4.50%
    The Dalles, OR (FHA|USDA|VA) 1 $45,000 $45,000 $0 6.25%
    Shelton, WA (FHA|USDA|VA) 1 $35,000 $35,000 $0 4.75%
    OLYMPIA-LACEY-TUMWATER, WA (FHA|USDA|VA) 1 $25,000 $25,000 $0 5.25%
    SALEM, OR (FHA|USDA|VA) 1 $25,000 $25,000 $0 5.75%
    WENATCHEE, WA (FHA|USDA|VA) 1 $25,000 $25,000 $0 6.50%
    Iq Credit Union's top markets include Portland, Longview, Eugene, Seattle, and Centralia among others.

    Their top states include:
  • Washington (FHA|USDA|VA)
  • Oregon (FHA|USDA|VA)
  • Arizona (FHA|USDA|VA)

    • Similar Lenders

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

    Yakima Federal Savings and Loan Association
    Similarity Rank: 414
    INROADS
    Similarity Rank: 549
    Ukrainian Federal Credit Union
    Similarity Rank: 657
    Clackamas Federal Credit Union
    Similarity Rank: 918
    OREGONIANS CREDIT UNION
    Similarity Rank: 948
    iQ Credit Union
    Similarity Rank: 966
    Sno Falls Credit Union
    Similarity Rank: 1090
    CASTPARTS EMPLOYEES
    Similarity Rank: 1170
    Consolidated Federal Credit Union
    Similarity Rank: 1220
    BKCO MORTGAGE, LLC
    Similarity Rank: 1221

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    HELOC 859 $61,065,000 $71,088 n/a 5.70%
    Conventional 647 $200,735,000 $310,255 $2,910 3.85%

    For 2019, Iq Credit Union's most frequently originated type of loan was HELOC, with 859 originations. Their 2nd most popular type was Conventional, with 647 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Improvement 414 $28,170,000 $68,043 $0 5.60%
    Cash Out Refi 381 $122,595,000 $321,772 $2,865 3.91%
    Other 352 $24,330,000 $69,119 $0 5.85%
    Refi 216 $44,180,000 $204,537 $2,783 4.33%
    Home Purchase 143 $42,525,000 $297,378 $3,163 4.12%

    For 2019, Iq Credit Union's most frequently cited loan purpose was Home Improvement, with 414 originations. The 2nd most popular reason was Cash Out Refi, with 381 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    20 Year 882 $66,680,000 $75,601 $2,943 5.65%
    30 Year 505 $137,045,000 $271,376 $2,962 3.88%
    15 Year 104 $21,330,000 $205,096 $2,669 3.59%
    10 Year 10 $12,270,000 $1,227,000 $2,193 4.53%
    Other 4 $24,130,000 $6,032,500 $0 7.13%
    5 Year 1 $345,000 $345,000 $0 5.50%

    For 2019, Iq Credit Union's most frequently cited loan duration was 20 Year, with 882 originations. The 2nd most popular length was 30 Year, with 505 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 444 $115,920,000 $261,081
    $1k-2k 146 $34,000,000 $232,877
    $2k-3k 28 $8,740,000 $312,143
    $3k-4k 7 $2,275,000 $325,000
    $4k-5k 7 $2,505,000 $357,857
    $5k+ 3 $955,000 $318,333

    Iq Credit Union's average total fees were $2,962, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 444 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    5-6% 518 $42,580,000 $82,201
    3-4% 451 $123,865,000 $274,645
    4-5% 250 $49,090,000 $196,360
    6-7% 154 $25,780,000 $167,403
    7-8% 97 $12,345,000 $127,268
    2.5-3% 36 $8,140,000 $226,111

    During 2019, Iq Credit Union's average interest rate for loans was 3.88%, while their most frequently originated rate bucket for loans was 5-6%, with 518 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 697 $35,145,000 $50,423 $1,849 5.73%
    $200k-400k 421 $118,505,000 $281,485 $3,030 3.90%
    $100k-200k 318 $45,010,000 $141,541 $2,648 4.60%
    $400k-600k 61 $27,985,000 $458,770 $3,298 3.95%
    $1MM+ 6 $32,640,000 $5,440,000 $0 6.25%
    $600k-1MM 3 $2,515,000 $838,333 $4,638 4.60%

    2019 saw Iq Credit Union place emphasis on $100,000 or less loans with 697 originations, totaling $35,145,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 413 $65,845,000 $159,431 $3,045 5.04%
    $75k-100k 348 $49,470,000 $142,155 $2,902 4.90%
    $50k-75k 324 $48,370,000 $149,290 $2,817 4.70%
    $150k-250k 214 $37,470,000 $175,093 $3,002 5.03%
    $50k or less 128 $14,900,000 $116,406 $2,686 4.46%
    $250k+ 48 $8,420,000 $175,417 $3,215 5.13%

    Iq Credit Union lent most frequently to those with incomes in the $100k-150k range, with 413 originations. The second most popular income band? $75k-100k, with 348 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 418 $57,200,000 $136,842 $2,788 4.88%
    30-36% 289 $43,815,000 $151,609 $2,848 5.00%
    <20% 171 $20,535,000 $120,088 $2,813 4.72%
    36% 63 $9,625,000 $152,778 $3,112 5.04%
    41% 60 $9,300,000 $155,000 $3,011 5.30%
    50-60% 52 $5,350,000 $102,885 $0 5.69%
    44% 50 $8,800,000 $176,000 $3,009 4.78%
    39% 50 $8,670,000 $173,400 $2,994 4.67%
    37% 48 $7,890,000 $164,375 $2,974 4.71%
    40% 43 $7,815,000 $181,744 $3,083 4.70%
    38% 43 $8,095,000 $188,256 $3,098 4.76%
    42% 41 $6,995,000 $170,610 $3,270 4.97%
    43% 33 $6,195,000 $187,727 $2,993 4.51%
    45% 31 $5,415,000 $174,677 $2,936 4.89%
    46% 29 $5,605,000 $193,276 $2,928 4.73%
    49% 26 $5,270,000 $202,692 $2,724 4.75%
    48% 25 $5,095,000 $203,800 $2,879 4.60%
    47% 20 $3,260,000 $163,000 $3,523 5.08%
    >60% 2 $530,000 $265,000 $1,166 5.88%

    Iq Credit Union lent most frequently to those with DTI ratios of 20-30%, with 418 originations. The next most common DTI ratio? 30-36%, with 289 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 1,344 $202,010,000 $150,305 $2,899 4.90%
    Not applicable 12 $36,340,000 $3,028,333 $0 5.71%
    Not provided 65 $10,775,000 $165,769 $2,993 4.73%
    Asian 46 $7,940,000 $172,609 $3,017 4.96%
    American Indian 12 $1,570,000 $130,833 $3,054 4.78%
    Native Hawaiian or Islander 12 $1,360,000 $113,333 $2,650 4.98%
    Black 12 $1,040,000 $86,667 $3,126 5.75%
    Other Pacific Islander 2 $530,000 $265,000 $3,620 3.63%
    Other Asian 1 $235,000 $235,000 $2,562 3.88%

    Approval Rates

    Total approvals of all applications
    86.80%

    Iq Credit Union has an average approval rate.

    Pick Rate

    Approvals leading to origination
    76.43%

    Iq Credit Union has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 1,506 $261,800,000 $173,838

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Site-Built 7 $33,225,000 $4,746,429
    Single Family (1-4 Units):Manufactured 11 $1,725,000 $156,818
    Single Family (1-4 Units):Site-Built 1,488 $226,850,000 $152,453

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 295 $33,665,000 $114,119 $2,694 5.17%
    40-60% 167 $34,725,000 $207,934 $2,705 3.88%
    60-80% 300 $121,340,000 $404,467 $2,999 3.93%
    80-100% 136 $42,030,000 $309,044 $3,209 3.97%
    Under 20% 608 $30,040,000 $49,408 $1,328 5.76%