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 Refi and Cash Out Refi loans. Iq Credit Union has a high proportion of conventional loans. Their top markets by origination volume include: Portland, Salem, Longview, Hailey, and Seattle among others. We have data for 29 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Iq Credit Union has an above 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% 4/18/24
    30 Year Conventional Purchase 6.33% 4/18/24
    30 Year Conventional Refi 6.40% 4/18/24
    30 Year Cash-out Refi 6.41% 4/18/24
    15 Year Conventional Purchase 6.08% 4/18/24
    15 Year Conventional Refi 5.67% 4/18/24
    15 Year Cash-out Refi 5.67% 4/18/24
    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

    2,254

    Origination Dollar Volume (All Markets)

    $490,330,000

    Awards

    iQ Credit Union 30 Year Conventional Loans gold iQ Credit Union 30 Year Conventional Loans gold iQ Credit Union 30 Year Conventional Loans gold iQ 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
    PORTLAND-VANCOUVER-HILLSBORO, OR-WA (FHA|USDA|VA) 2,076 $434,240,000 $209,171 $2,636 3.51%
    SALEM, OR (FHA|USDA|VA) 11 $18,535,000 $1,685,000 $3,115 4.02%
    LONGVIEW, WA (FHA|USDA|VA) 77 $13,725,000 $178,247 $2,884 3.82%
    Hailey, ID (FHA|USDA|VA) 1 $4,745,000 $4,745,000 $0 3.13%
    Seattle-Tacoma-Bellevue, WA (FHA|USDA|VA) 24 $4,360,000 $181,667 $2,631 3.40%
    BEND, OR (FHA|USDA|VA) 5 $4,125,000 $825,000 $3,175 3.73%
    Outside of Metro Areas 14 $2,360,000 $168,571 $2,470 3.24%
    Centralia, WA (FHA|USDA|VA) 11 $1,615,000 $146,818 $2,767 3.70%
    MOUNT VERNON-ANACORTES, WA (FHA|USDA|VA) 3 $1,015,000 $338,333 $2,212 3.46%
    BREMERTON-SILVERDALE-PORT ORCHARD, WA (FHA|USDA|VA) 2 $600,000 $300,000 $3,136 3.19%
    Astoria, OR (FHA|USDA|VA) 3 $585,000 $195,000 $2,401 2.92%
    The Dalles, OR (FHA|USDA|VA) 3 $535,000 $178,333 $3,453 4.83%
    SPOKANE-SPOKANE VALLEY, WA (FHA|USDA|VA) 2 $520,000 $260,000 $3,510 3.69%
    OLYMPIA-LACEY-TUMWATER, WA (FHA|USDA|VA) 3 $425,000 $141,667 $1,683 3.33%
    Newport, OR (FHA|USDA|VA) 2 $410,000 $205,000 $3,437 2.81%
    CORVALLIS, OR (FHA|USDA|VA) 1 $355,000 $355,000 $0 4.50%
    Ellensburg, WA (FHA|USDA|VA) 1 $325,000 $325,000 $3,295 3.25%
    WENATCHEE, WA (FHA|USDA|VA) 1 $325,000 $325,000 $1,733 2.88%
    YAKIMA, WA (FHA|USDA|VA) 3 $285,000 $95,000 $1,679 3.08%
    BELLINGHAM, WA (FHA|USDA|VA) 1 $245,000 $245,000 $1,811 2.75%
    Aberdeen, WA (FHA|USDA|VA) 1 $215,000 $215,000 $1,862 2.50%
    WALLA WALLA, WA (FHA|USDA|VA) 1 $195,000 $195,000 $0 3.75%
    GRANTS PASS, OR (FHA|USDA|VA) 1 $145,000 $145,000 $3,181 2.88%
    Hermiston-Pendleton, OR (FHA|USDA|VA) 1 $125,000 $125,000 $3,267 2.75%
    EUGENE-SPRINGFIELD, OR (FHA|USDA|VA) 1 $105,000 $105,000 $0 3.75%
    Shelton, WA (FHA|USDA|VA) 2 $100,000 $50,000 $0 4.13%
    ALBANY-LEBANON, OR (FHA|USDA|VA) 1 $55,000 $55,000 $0 4.50%
    MEDFORD, OR (FHA|USDA|VA) 1 $35,000 $35,000 $0 4.25%
    Klamath Falls, OR (FHA|USDA|VA) 1 $25,000 $25,000 $0 3.75%
    Iq Credit Union's top markets include Portland, Salem, Longview, Hailey, and Seattle among others.

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

    TRISTAR FINANCE, INC.
    Similarity Rank: 378
    People's Community Federal Credit Union
    Similarity Rank: 434
    CASTPARTS EMPLOYEES
    Similarity Rank: 524
    OREGONIANS CREDIT UNION
    Similarity Rank: 948
    LOANSNAP, INC.
    Similarity Rank: 1106
    Pacific NW Federal Credit Union
    Similarity Rank: 1344
    Yakima Federal Savings and Loan Association
    Similarity Rank: 1565
    Wauna Federal Credit Union
    Similarity Rank: 1644
    COAST 2 COAST FUNDING GROUP, INC.
    Similarity Rank: 1653
    INROADS
    Similarity Rank: 1680

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 1,348 $419,560,000 $311,246 $2,646 3.09%
    HELOC 906 $70,770,000 $78,113 n/a 4.16%

    For 2020, Iq Credit Union's most frequently originated type of loan was Conventional, with 1,348 originations. Their 2nd most popular type was HELOC, with 906 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Refi 759 $203,205,000 $267,727 $2,414 3.05%
    Cash Out Refi 514 $137,260,000 $267,043 $2,802 3.19%
    Home Improvement 431 $30,735,000 $71,311 $0 4.13%
    Other 396 $30,510,000 $77,045 $0 4.22%
    Home Purchase 152 $88,010,000 $579,013 $3,327 3.46%
    NA 2 $610,000 $305,000 $1,917 3.06%

    For 2020, Iq Credit Union's most frequently cited loan purpose was Refi, with 759 originations. The 2nd most popular reason was Cash Out Refi, with 514 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    20 Year 1,030 $102,840,000 $99,845 $2,565 4.02%
    30 Year 886 $245,070,000 $276,603 $2,734 3.24%
    15 Year 307 $69,535,000 $226,498 $2,453 2.66%
    10 Year 19 $17,895,000 $941,842 $1,933 3.04%
    Other 11 $52,785,000 $4,798,636 $0 4.77%
    5 Year 1 $2,205,000 $2,205,000 $0 3.95%

    For 2020, Iq Credit Union's most frequently cited loan duration was 20 Year, with 1,030 originations. The 2nd most popular length was 30 Year, with 886 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 897 $230,725,000 $257,219
    $1k-2k 311 $81,145,000 $260,916
    $2k-3k 74 $21,010,000 $283,919
    $3k-4k 35 $11,585,000 $331,000
    $4k-5k 7 $2,515,000 $359,286
    $5k+ 5 $1,655,000 $331,000

    Iq Credit Union's average total fees were $2,734, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 897 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    3-4% 1,192 $236,330,000 $198,263
    2.5-3% 544 $138,950,000 $255,423
    4-5% 275 $72,005,000 $261,836
    <2.5% 150 $32,540,000 $216,933
    5-6% 79 $9,855,000 $124,747
    6-7% 14 $650,000 $46,429

    During 2020, Iq Credit Union's average interest rate for loans was 3.24%, while their most frequently originated rate bucket for loans was 3-4%, with 1,192 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 898 $250,430,000 $278,875 $2,728 3.17%
    $100,000 or less 692 $34,970,000 $50,535 $1,993 4.17%
    $100k-200k 520 $76,770,000 $147,635 $2,243 3.33%
    $400k-600k 125 $56,895,000 $455,160 $3,342 3.18%
    $1MM+ 17 $69,945,000 $4,114,412 $0 4.33%
    $600k-1MM 2 $1,320,000 $660,000 $4,080 4.31%

    2020 saw Iq Credit Union place emphasis on $200k-400k loans with 898 originations, totaling $250,430,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 641 $123,965,000 $193,393 $2,668 3.56%
    $75k-100k 483 $87,125,000 $180,383 $2,665 3.50%
    $50k-75k 454 $76,120,000 $167,665 $2,491 3.48%
    $150k-250k 394 $83,360,000 $211,574 $2,821 3.56%
    $50k or less 140 $18,140,000 $129,571 $2,440 3.41%
    $250k+ 82 $20,300,000 $247,561 $2,798 3.51%

    Iq Credit Union lent most frequently to those with incomes in the $100k-150k range, with 641 originations. The second most popular income band? $75k-100k, with 483 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 650 $127,120,000 $195,569 $2,639 3.41%
    30-36% 472 $87,420,000 $185,212 $2,637 3.57%
    <20% 311 $52,895,000 $170,080 $2,430 3.35%
    37% 81 $14,575,000 $179,938 $2,680 3.68%
    38% 77 $14,085,000 $182,922 $2,644 3.61%
    41% 69 $13,615,000 $197,319 $2,729 3.60%
    36% 66 $12,060,000 $182,727 $2,541 3.54%
    50-60% 65 $7,635,000 $117,462 $2,723 4.06%
    44% 60 $14,080,000 $234,667 $2,895 3.43%
    40% 57 $11,505,000 $201,842 $2,833 3.57%
    42% 49 $10,785,000 $220,102 $2,773 3.36%
    39% 49 $10,995,000 $224,388 $2,707 3.49%
    43% 48 $8,850,000 $184,375 $3,029 3.61%
    45% 42 $7,620,000 $181,429 $2,667 3.71%
    48% 40 $7,200,000 $180,000 $2,725 4.04%
    46% 37 $7,055,000 $190,676 $2,584 3.52%
    47% 34 $5,780,000 $170,000 $3,252 3.73%
    49% 24 $4,700,000 $195,833 $2,594 3.65%
    >60% 2 $510,000 $255,000 $0 4.13%

    Iq Credit Union lent most frequently to those with DTI ratios of 20-30%, with 650 originations. The next most common DTI ratio? 30-36%, with 472 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 2,045 $383,345,000 $187,455 $2,644 3.52%
    Not applicable 19 $70,925,000 $3,732,895 $0 4.35%
    Not provided 91 $16,575,000 $182,143 $2,743 3.58%
    Asian 50 $10,700,000 $214,000 $2,688 3.45%
    Black 19 $3,775,000 $198,684 $2,456 3.67%
    American Indian 21 $3,355,000 $159,762 $2,376 3.55%
    Native Hawaiian or Islander 6 $810,000 $135,000 $2,990 3.29%
    Korean 1 $355,000 $355,000 $1,961 3.13%
    Japanese 1 $255,000 $255,000 $2,453 3.00%
    Chinese 1 $235,000 $235,000 $3,485 3.00%

    Approval Rates

    Total approvals of all applications
    90.86%

    Iq Credit Union has an average approval rate.

    Pick Rate

    Approvals leading to origination
    78.75%

    Iq Credit Union has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 2,254 $490,330,000 $217,538

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Site-Built 17 $69,945,000 $4,114,412
    Single Family (1-4 Units):Manufactured 23 $2,185,000 $95,000
    Single Family (1-4 Units):Site-Built 2,214 $418,200,000 $188,889

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 401 $55,925,000 $139,464 $2,155 3.58%
    40-60% 474 $120,250,000 $253,692 $2,454 3.02%
    60-80% 574 $225,960,000 $393,659 $2,827 3.22%
    80-100% 161 $53,175,000 $330,280 $3,103 3.33%
    Under 20% 644 $35,020,000 $54,379 $2,184 4.18%