Directions Credit Union Mortgage Rates, Fees & Info
Toledo, OHLEI: 254900UHFHT3IWKY8K19
Tax ID: 34-4475249
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Mortgage Data
Review & Overview
Directions Credit Union is a smaller credit union specializing in Home Purchase loans. Directions Credit Union has a high proportion of conventional loans. Their top markets by origination volume include: Toledo, Monroe, Mansfield, Ashland, and Columbus among others. We have data for 35 markets. (Some data included below & more in-depth data is available with an active subscription.)Directions Credit Union has an average approval rate when compared to the average across all lenders. They have an average pick rate when compared to similar lenders. Directions 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 relatively high 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 |
|---|---|---|
| Home Equity Line of Credit (HELOC) | 5.31% | 4/18/24 |
| 30 Year Conventional Purchase | 7.31% | 4/18/24 |
| 30 Year Conventional Refi | 8.32% | 4/18/24 |
| 30 Year Cash-out Refi | 7.19% | 4/18/24 |
| 15 Year Conventional Purchase | 6.30% | 4/18/24 |
| 15 Year Conventional Refi | 6.70% | 4/18/24 |
| 15 Year Cash-out Refi | 6.70% | 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. | ||
Directions Credit Union Mortgage Calculator
Your Estimates
Estimated Loan Payment: Update the calculator values and click calculate payment!
This is not an official calculator from Directions 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
731Origination Dollar Volume (All Markets)
$102,745,000Awards
Directions Credit Union - 2023
Directions Credit Union is a 2023 , due to their low .
For 2023, less than of lenders were eligible for this award.
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Relative Rate
Directions Credit Union's average 30 year fixed mortgage rate was
6.57%.
The 2023 average 30 year fixed rate mortgage across all markets and lenders was 6.48%.
This yields a difference of 0.09%.
Relative Fees (Closing Costs)
Directions Credit Union's average total fees/closing costs for a 30 year fixed rate
mortgage were $901.
The average total origination fees for 30 year fixed rate mortgages across all lenders (for all loan values, including
both points & up-front fees in addition to origination fees) were $9,089.
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 |
|---|---|---|---|---|---|
| TOLEDO, OH (FHA|USDA|VA) | 419 | $60,935,000 | $145,430 | $807 | 7.20% |
| MONROE, MI (FHA|USDA|VA) | 105 | $17,465,000 | $166,333 | $1,057 | 7.38% |
| MANSFIELD, OH (FHA|USDA|VA) | 89 | $6,445,000 | $72,416 | $413 | 7.52% |
| Ashland, OH (FHA|USDA|VA) | 33 | $2,625,000 | $79,545 | $560 | 7.70% |
| COLUMBUS, OH (FHA|USDA|VA) | 8 | $1,710,000 | $213,750 | $1,428 | 6.89% |
| Wooster, OH (FHA|USDA|VA) | 15 | $1,465,000 | $97,667 | $720 | 7.22% |
| Adrian, MI (FHA|USDA|VA) | 5 | $1,075,000 | $215,000 | $0 | 6.75% |
| NAPLES-MARCO ISLAND, FL (FHA|USDA|VA) | 1 | $1,005,000 | $1,005,000 | $0 | 7.13% |
| Norwalk, OH (FHA|USDA|VA) | 16 | $990,000 | $61,875 | $0 | 7.20% |
| JACKSON, MI (FHA|USDA|VA) | 2 | $770,000 | $385,000 | $0 | 6.88% |
| Detroit-Warren-Dearborn, MI (FHA|USDA|VA) | 3 | $665,000 | $221,667 | $0 | 6.58% |
| Outside of Metro Areas | 5 | $625,000 | $125,000 | $107 | 7.43% |
| SOUTH BEND-MISHAWAKA, IN-MI (FHA|USDA|VA) | 1 | $545,000 | $545,000 | $0 | 6.38% |
| ATLANTA-SANDY SPRINGS-ALPHARETTA, GA (FHA|USDA|VA) | 1 | $515,000 | $515,000 | $0 | 6.75% |
| TUCSON, AZ (FHA|USDA|VA) | 1 | $475,000 | $475,000 | $0 | 7.38% |
| HARRISONBURG, VA (FHA|USDA|VA) | 1 | $465,000 | $465,000 | $2,835 | 7.53% |
| GRAND RAPIDS-KENTWOOD, MI (FHA|USDA|VA) | 1 | $455,000 | $455,000 | $0 | 6.75% |
| Angola, IN (FHA|USDA|VA) | 1 | $425,000 | $425,000 | $0 | 6.75% |
| Hillsdale, MI (FHA|USDA|VA) | 1 | $425,000 | $425,000 | $0 | 7.00% |
| Findlay, OH (FHA|USDA|VA) | 2 | $410,000 | $205,000 | $1,322 | 7.06% |
| LANSING-EAST LANSING, MI (FHA|USDA|VA) | 1 | $365,000 | $365,000 | $0 | 6.00% |
| TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) | 1 | $355,000 | $355,000 | $3,939 | 5.88% |
| FORT WAYNE, IN (FHA|USDA|VA) | 1 | $325,000 | $325,000 | $0 | 6.75% |
| CANTON-MASSILLON, OH (FHA|USDA|VA) | 2 | $310,000 | $155,000 | $948 | 6.75% |
| North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) | 1 | $295,000 | $295,000 | $4,217 | 7.88% |
| CRESTVIEW-FORT WALTON BEACH-DESTIN, FL (FHA|USDA|VA) | 1 | $265,000 | $265,000 | $3,771 | 7.25% |
| BELLINGHAM, WA (FHA|USDA|VA) | 1 | $255,000 | $255,000 | $0 | 6.38% |
| New Philadelphia-Dover, OH (FHA|USDA|VA) | 4 | $250,000 | $62,500 | $123 | 7.63% |
| CINCINNATI, OH-KY-IN (FHA|USDA|VA) | 1 | $205,000 | $205,000 | $0 | 6.75% |
| THE VILLAGES, FL (FHA|USDA|VA) | 1 | $175,000 | $175,000 | $1,538 | 6.50% |
| Coldwater, MI (FHA|USDA|VA) | 1 | $125,000 | $125,000 | $0 | 7.13% |
| Sandusky, OH (FHA|USDA|VA) | 1 | $105,000 | $105,000 | $0 | 8.00% |
| CLEVELAND-ELYRIA, OH (FHA|USDA|VA) | 2 | $100,000 | $50,000 | $0 | 7.88% |
| Tiffin, OH (FHA|USDA|VA) | 2 | $90,000 | $45,000 | $0 | 6.63% |
| Bucyrus-Galion, OH (FHA|USDA|VA) | 1 | $35,000 | $35,000 | $320 | 8.75% |
Similar Lenders
We use machine learning to identify the top lenders compared against Directions 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 | 406 | $85,470,000 | $210,517 | $783 | 6.94% |
| HELOC | 325 | $17,275,000 | $53,154 | n/a | 7.70% |
For 2023, Directions Credit Union's most frequently originated type of loan was Conventional, with 406 originations. Their 2nd most popular type was HELOC, with 325 originations.
Loan Reason
For 2023, Directions Credit Union's most frequently cited loan purpose was Home Purchase, with 325 originations. The 2nd most popular reason was Home Improvement, with 190 originations.
Loan Duration/Length
For 2023, Directions Credit Union's most frequently cited loan duration was 10 Year, with 400 originations. The 2nd most popular length was 30 Year, with 296 originations.
Origination Fees/Closing Costs
| Origination Fee/Closing Cost | Originations | Total Value | Average Loan |
|---|---|---|---|
| $<1k | 382 | $76,520,000 | $200,314 |
| $1k-2k | 16 | $7,260,000 | $453,750 |
Directions Credit Union's average total fees were $901, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 382 originations.
Interest Rates
During 2023, Directions Credit Union's average interest rate for loans was 6.57%, while their most frequently originated rate bucket for loans was 7-8%, with 366 originations.
Loan Sizing
2023 saw Directions Credit Union place emphasis on $100,000 or less loans with 415 originations, totaling $19,915,000 in origination value.
Applicant Income
Directions Credit Union lent most frequently to those with incomes in the $100k-150k range, with 171 originations. The second most popular income band? $50k-75k, with 161 originations.
Applicant Debt to Income Ratio
Directions Credit Union lent most frequently to those with DTI ratios of 20-30%, with 171 originations. The next most common DTI ratio? 30-36%, with 151 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications77.43%
Directions Credit Union has a below average approval rate.
Pick Rate
Approvals leading to origination93.43%
Directions Credit Union has an average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| 0.0 | 1 | $85,000 | $85,000 |
| 500.0 | 1 | $155,000 | $155,000 |
| NA | 729 | $102,505,000 | $140,610 |