Tradesmen Community Credit Union Mortgage Rates, Fees & Info
Des Moines, IALEI: 254900XRTANBKSC2EB64
Tax ID: 42-0778025
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Mortgage Data
Review & Overview
Tradesmen Community Credit Union is a smaller credit union specializing in Home Improvement, Cash Out Refi, and Home Purchase loans. Tradesmen Community Credit Union has a high proportion of conventional loans. Their top markets by origination volume include: Des Moines, Ames, and Pella among others. We have data for 4 markets. (Some data included below & more in-depth data is available with an active subscription.)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.
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.
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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
26Origination Dollar Volume (All Markets)
$1,180,000Top 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) | 20 | $960,000 | $48,000 | $0 | 0.00% |
| Outside of Metro Areas | 2 | $80,000 | $40,000 | $0 | 0.00% |
| AMES, IA (FHA|USDA|VA) | 2 | $70,000 | $35,000 | $0 | 0.00% |
| Pella, IA (FHA|USDA|VA) | 2 | $70,000 | $35,000 | $0 | 0.00% |
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 | 26 | $1,180,000 | $45,385 | $0 | 0.00% |
For 2019, Tradesmen Community Credit Union's most frequently originated type of loan was Conventional, with 26 originations.
Loan Reason
For 2019, Tradesmen Community Credit Union's most frequently cited loan purpose was Home Improvement, with 14 originations. The 2nd most popular reason was Other, with 7 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Other | 26 | $1,180,000 | $45,385 | $0 | 0.00% |
For 2019, Tradesmen Community Credit Union's most frequently cited loan duration was Other, with 26 originations.
Loan Sizing
| Loan Size | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| $100,000 or less | 22 | $660,000 | $30,000 | $0 | 0.00% |
| $100k-200k | 4 | $520,000 | $130,000 | $0 | 0.00% |
2019 saw Tradesmen Community Credit Union place emphasis on $100,000 or less loans with 22 originations, totaling $660,000 in origination value.
Applicant Income
Tradesmen Community Credit Union lent most frequently to those with incomes in the $50k-75k range, with 14 originations. The second most popular income band? $75k-100k, with 5 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Exempt% | 26 | $1,180,000 | $45,385 | $0 | 0.00% |
Tradesmen Community Credit Union lent most frequently to those with DTI ratios of Exempt%, with 26 originations.
Ethnicity Mix
| Applicant Ethnicity | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| White | 25 | $1,165,000 | $46,600 | $0 | 0.00% |
| Not provided | 1 | $15,000 | $15,000 | $0 | 0.00% |
Approval Rates
Total approvals of all applications87.88%
Tradesmen Community Credit Union has an average approval rate.
Pick Rate
Approvals leading to origination88.46%
Tradesmen Community Credit Union has an average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| Exempt | 26 | $1,180,000 | $45,385 |