Icon Credit Union Mortgage Rates, Fees & Info
Boise, IDLEI: 254900NZESTDEJZDVW90
Tax ID: 82-0209467
Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data
Jump to:
Mortgage Data
Review & Overview
Icon Credit Union is a smaller credit union specializing in Cash Out Refi and Refi loans. Icon Credit Union has a high proportion of conventional loans. They have a a low proportion of FHA loans. (This may mean they shy away from first time homebuyers.) Their top markets by origination volume include: Boise City, La Grande, San Jose, Ontario, and Mountain Home among others. We have data for 10 markets. (Some data included below & more in-depth data is available with an active subscription.)Icon 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. Icon 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.
Originations
291Origination Dollar Volume (All Markets)
$65,565,000Top 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 |
|---|---|---|---|---|---|
| BOISE CITY, ID (FHA|USDA|VA) | 252 | $57,340,000 | $227,540 | $1,906 | 3.23% |
| Outside of Metro Areas | 24 | $5,970,000 | $248,750 | $0 | 3.53% |
| La Grande, OR (FHA|USDA|VA) | 5 | $805,000 | $161,000 | $0 | 3.03% |
| SAN JOSE-SUNNYVALE-SANTA CLARA, CA (FHA|USDA|VA) | 1 | $505,000 | $505,000 | $0 | 3.50% |
| Outside of Metro Areas | 2 | $230,000 | $115,000 | $0 | 2.94% |
| Ontario, OR-ID (FHA|USDA|VA) | 2 | $220,000 | $110,000 | $0 | 2.81% |
| Mountain Home, ID (FHA|USDA|VA) | 2 | $180,000 | $90,000 | $0 | 5.31% |
| IDAHO FALLS, ID (FHA|USDA|VA) | 1 | $125,000 | $125,000 | $0 | 2.75% |
| Rexburg, ID (FHA|USDA|VA) | 1 | $115,000 | $115,000 | $0 | 4.13% |
| Blackfoot, ID (FHA|USDA|VA) | 1 | $75,000 | $75,000 | $0 | 3.25% |
Similar Lenders
We use machine learning to identify the top lenders compared against Icon Credit Union based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.
Similarity Rank: 280
Similarity Rank: 553
Similarity Rank: 585
Similarity Rank: 1659
Similarity Rank: 1911
Similarity Rank: 2240
Similarity Rank: 2328
Similarity Rank: 2632
Similarity Rank: 2720
Similarity Rank: 3363
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 285 | $63,415,000 | $222,509 | $1,906 | 3.28% |
| VA | 5 | $1,815,000 | $363,000 | $0 | 2.88% |
| FHA | 1 | $335,000 | $335,000 | $0 | 3.25% |
For 2020, Icon Credit Union's most frequently originated type of loan was Conventional, with 285 originations. Their 2nd most popular type was VA, with 5 originations.
Loan Reason
For 2020, Icon Credit Union's most frequently cited loan purpose was Cash Out Refi, with 134 originations. The 2nd most popular reason was Refi, with 116 originations.
Loan Duration/Length
For 2020, Icon Credit Union's most frequently cited loan duration was 30 Year, with 168 originations. The 2nd most popular length was 15 Year, with 56 originations.
Origination Fees/Closing Costs
| Origination Fee/Closing Cost | Originations | Total Value | Average Loan |
|---|---|---|---|
| $<1k | 6 | $910,000 | $151,667 |
| $2k-3k | 3 | $805,000 | $268,333 |
| $1k-2k | 2 | $340,000 | $170,000 |
| $3k-4k | 2 | $460,000 | $230,000 |
| $4k-5k | 1 | $495,000 | $495,000 |
Icon Credit Union's average total fees were $1,940, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 6 originations.
Interest Rates
During 2020, Icon Credit Union's average interest rate for loans was 3.31%, while their most frequently originated rate bucket for loans was 3-4%, with 145 originations.
Loan Sizing
2020 saw Icon Credit Union place emphasis on $200k-400k loans with 122 originations, totaling $33,620,000 in origination value.
Applicant Income
Icon Credit Union lent most frequently to those with incomes in the $100k-150k range, with 55 originations. The second most popular income band? $50k-75k, with 55 originations.
Applicant Debt to Income Ratio
Icon Credit Union lent most frequently to those with DTI ratios of 20-30%, with 62 originations. The next most common DTI ratio? 30-36%, with 45 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications98.48%
Icon 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 origination91.41%
Icon Credit Union has an average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| 1045.16 | 1 | $195,000 | $195,000 |
| 1066.25 | 1 | $425,000 | $425,000 |
| 1244.0 | 1 | $155,000 | $155,000 |
| 1300.0 | 1 | $135,000 | $135,000 |
| 1376.25 | 1 | $365,000 | $365,000 |
| 1440.0 | 1 | $95,000 | $95,000 |
| 1800.0 | 1 | $105,000 | $105,000 |
| 198.0 | 1 | $45,000 | $45,000 |
| 2250.0 | 1 | $225,000 | $225,000 |
| 245.0 | 1 | $155,000 | $155,000 |
| 2552.0 | 1 | $515,000 | $515,000 |
| 2581.88 | 1 | $225,000 | $225,000 |
| 2800.0 | 1 | $285,000 | $285,000 |
| 2892.0 | 1 | $285,000 | $285,000 |
| 3168.0 | 1 | $265,000 | $265,000 |
| 3264.0 | 1 | $325,000 | $325,000 |
| 346.25 | 1 | $275,000 | $275,000 |
| 3853.5 | 1 | $255,000 | $255,000 |
| 391.0 | 1 | $395,000 | $395,000 |
| 428.75 | 1 | $345,000 | $345,000 |
| 442.5 | 1 | $355,000 | $355,000 |
| 445.0 | 1 | $175,000 | $175,000 |
| 4459.84 | 1 | $365,000 | $365,000 |
| 4530.54 | 1 | $395,000 | $395,000 |
| 4910.0 | 1 | $495,000 | $495,000 |
| 5728.5 | 1 | $475,000 | $475,000 |
| 635.0 | 1 | $255,000 | $255,000 |
| 638.0 | 1 | $515,000 | $515,000 |
| 750.0 | 1 | $55,000 | $55,000 |
| 858.78 | 1 | $175,000 | $175,000 |
| 9100.0 | 1 | $455,000 | $455,000 |
| 936.36 | 1 | $195,000 | $195,000 |
| 975.0 | 1 | $195,000 | $195,000 |
| 999.0 | 1 | $225,000 | $225,000 |
| NA | 257 | $56,165,000 | $218,541 |
Occupancy Type Mix
| Dwelling Type | Originations | Total Value | Average Loan |
|---|---|---|---|
| Single Family (1-4 Units):Manufactured | 6 | $780,000 | $130,000 |
| Single Family (1-4 Units):Site-Built | 285 | $64,785,000 | $227,316 |
LTV Distribution
Complaints
| Bank Name | Product | Issue | 2020 CPFB Complaints | % of Total Issues |
|---|---|---|---|---|
| Iconic Mortgage Corp. | VA mortgage | Applying for a mortgage or refinancing an existing mortgage | 1 | 100.0% |