Tradesmen Community Credit Union Mortgage Rates, Fees & Info
Des Moines, IALEI: 254900XRTANBKSC2EB64
Tax ID: 42-0778025
Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data
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Mortgage Data
Review & Overview
Tradesmen Community Credit Union is a smaller credit union specializing in Other, Home Improvement, and Home Purchase loans. Tradesmen Community Credit Union has a high proportion of conventional loans. Their top (well, only) market is Des Moines.Tradesmen Community 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.
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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| 30 Year Conventional Purchase | 6.73% | 11/22/24 |
| 30 Year Conventional Refi | 7.36% | 11/22/24 |
| 30 Year Cash-out Refi | 6.88% | 11/22/24 |
| 15 Year Conventional Refi | 7.60% | 11/22/24 |
| 15 Year Cash-out Refi | 7.60% | 11/22/24 |
| 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. | ||
Tradesmen Community Credit Union Mortgage Calculator
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
28Origination Dollar Volume (All Markets)
$1,280,000Top 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 |
|---|---|---|---|---|---|
| DES MOINES-WEST DES MOINES, IA (FHA|USDA|VA) | 26 | $1,250,000 | $48,077 | $0 | 1,111.00% |
| Outside of Metro Areas | 2 | $30,000 | $15,000 | $0 | 1,111.00% |
Similar Lenders
We use machine learning to identify the top lenders compared against Tradesmen Community 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 | 28 | $1,280,000 | $45,714 | $0 | 1,111.00% |
For 2018, Tradesmen Community Credit Union's most frequently originated type of loan was Conventional, with 28 originations.
Loan Reason
For 2018, Tradesmen Community Credit Union's most frequently cited loan purpose was Other, with 11 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 |
|---|---|---|---|---|---|
| 30+ year | 28 | $1,280,000 | $45,714 | $0 | 1,111.00% |
For 2018, Tradesmen Community Credit Union's most frequently cited loan duration was 30+ year, with 28 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| Over 8% | 28 | $1,280,000 | $45,714 |
During 2018, Tradesmen Community Credit Union's average interest rate for loans was 0.00%, while their most frequently originated rate bucket for loans was Over 8%, with 28 originations.
Loan Sizing
| Loan Size | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| $100,000 or less | 27 | $1,105,000 | $40,926 | $0 | 1,111.00% |
| $100k-200k | 1 | $175,000 | $175,000 | $0 | 1,111.00% |
2018 saw Tradesmen Community Credit Union place emphasis on $100,000 or less loans with 27 originations, totaling $1,105,000 in origination value.
Applicant Income
Tradesmen Community Credit Union lent most frequently to those with incomes in the $100k-150k range, with 9 originations. The second most popular income band? $75k-100k, with 9 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| >60% | 28 | $1,280,000 | $45,714 | $0 | 1,111.00% |
Tradesmen Community Credit Union lent most frequently to those with DTI ratios of >60%, with 28 originations.
Ethnicity Mix
| Applicant Ethnicity | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| White | 27 | $1,205,000 | $44,630 | $0 | 1,111.00% |
| Asian | 1 | $75,000 | $75,000 | $0 | 1,111.00% |
Approval Rates
Total approvals of all applications89.47%
Tradesmen Community Credit Union has an average approval rate.
Pick Rate
Approvals leading to origination78.57%
Tradesmen Community Credit Union has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 28 | $1,280,000 | $45,714 |