Metro Cu Mortgage Rates, Fees & Info

Omaha, NE

LEI: 54930015EUQKUCIRBQ14

Tax ID: 47-6026142

5 stars - Updated: 11/11/24 - out of 5 stars, based on 24 reviews

Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data

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Mortgage Data

Review & Overview

Metro Cu is a smaller mortgage company specializing in Other and Home Purchase loans. Metro Cu has a high proportion of conventional loans. Their top markets by origination volume include: Omaha, Tucson, and Bemidji among others. We have data for 4 markets. (Some data included below & more in-depth data is available with an active subscription.)

Metro Cu 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. Metro Cu 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.

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
30 Year Conventional Purchase 6.40% 11/11/24
30 Year Conventional Refi 6.44% 11/11/24
30 Year Cash-out Refi 6.70% 11/11/24
30 Year FHA Purchase 6.27% 11/11/24
30 Year VA Purchase 6.27% 11/11/24
15 Year Conventional Purchase 6.04% 11/11/24
15 Year Conventional Refi 6.10% 11/11/24
15 Year Cash-out Refi 6.10% 11/11/24
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.

Metro Cu Mortgage Calculator






Your Estimates

Estimated Loan Payment: Update the calculator values and click calculate payment!

This is not an official calculator from Metro Cu. 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

591

Origination Dollar Volume (All Markets)

$70,985,000

Awards

METRO CU 30 Year Conventional Loans silver METRO CU 30 Year Conventional Loans silver METRO CU 30 Year Conventional Loans gold METRO CU 30 Year Conventional Loans gold
Show all (4) awards

Relative Rate

Metro Cu's average 30 year fixed mortgage rate was 5.34%.

The 2023 average 30 year fixed rate mortgage across all markets and lenders was 6.48%.

This yields a difference of -1.14%.

Relative Fees (Closing Costs)

Metro Cu's average total fees/closing costs for a 30 year fixed rate mortgage were $2,835.

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
Outside of Metro Areas 523 $49,745,000 $95,115 $2,328 4.75%
OMAHA-COUNCIL BLUFFS, NE-IA (FHA|USDA|VA) 66 $20,670,000 $313,182 $2,854 5.42%
TUCSON, AZ (FHA|USDA|VA) 1 $475,000 $475,000 $5,157 4.75%
Bemidji, MN (FHA|USDA|VA) 1 $95,000 $95,000 $3,072 4.75%
Metro Cu's top markets include Omaha, Tucson, and Bemidji among others.

Their top states include:
  • Nebraska (FHA|USDA|VA)
  • Iowa (FHA|USDA|VA)
  • Arizona (FHA|USDA|VA)
  • Minnesota (FHA|USDA|VA)
  • Similar Lenders

    We use machine learning to identify the top lenders compared against METRO CU based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.

    METRO CU
    Similarity Rank: 56
    South Metro Federal Credit Union
    Similarity Rank: 75
    Cobalt Credit Union
    Similarity Rank: 192
    FOUR POINTS
    Similarity Rank: 240
    CENTRIS FEDERAL CREDIT UNION
    Similarity Rank: 243
    First State Bank
    Similarity Rank: 396
    Exchange Bank
    Similarity Rank: 510
    Central National Bank
    Similarity Rank: 550
    Five Points Bank
    Similarity Rank: 702
    CORNHUSKER BANK
    Similarity Rank: 765

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    HELOC 521 $49,415,000 $94,846 n/a 0.00%
    Conventional 70 $21,570,000 $308,143 $2,875 5.38%

    For 2023, Metro Cu's most frequently originated type of loan was HELOC, with 521 originations. Their 2nd most popular type was Conventional, with 70 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Other 512 $48,570,000 $94,863 $0 0.00%
    Home Purchase 62 $18,300,000 $295,161 $2,798 5.46%
    Home Improvement 8 $630,000 $78,750 $0 0.00%
    Refi 8 $3,280,000 $410,000 $3,382 4.88%
    Cash Out Refi 1 $205,000 $205,000 $3,532 4.75%

    For 2023, Metro Cu's most frequently cited loan purpose was Other, with 512 originations. The 2nd most popular reason was Home Purchase, with 62 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 521 $49,415,000 $94,846 $0 0.00%
    30 Year 68 $21,200,000 $311,765 $2,835 5.34%
    15 Year 2 $370,000 $185,000 $4,214 6.88%

    For 2023, Metro Cu's most frequently cited loan duration was Other, with 521 originations. The 2nd most popular length was 30 Year, with 68 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $1k-2k 61 $18,375,000 $301,230
    $2k-3k 6 $1,930,000 $321,667
    $<1k 1 $395,000 $395,000
    $4k-5k 1 $145,000 $145,000
    $5k+ 1 $725,000 $725,000

    Metro Cu's average total fees were $2,835, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 61 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    4-5% 47 $16,885,000 $359,255
    6-7% 13 $2,405,000 $185,000
    5-6% 5 $1,015,000 $203,000
    7-8% 5 $1,265,000 $253,000

    During 2023, Metro Cu's average interest rate for loans was 5.34%, while their most frequently originated rate bucket for loans was 4-5%, with 47 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 363 $18,905,000 $52,080 $2,450 5.43%
    $100k-200k 120 $15,910,000 $132,583 $2,773 6.07%
    $200k-400k 82 $22,350,000 $272,561 $2,683 5.42%
    $400k-600k 19 $8,965,000 $471,842 $3,165 4.77%
    $600k-1MM 7 $4,855,000 $693,571 $4,325 4.75%

    2023 saw Metro Cu place emphasis on $100,000 or less loans with 363 originations, totaling $18,905,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 170 $17,530,000 $103,118 $2,814 5.65%
    $150k-250k 164 $21,900,000 $133,537 $2,915 4.95%
    $75k-100k 91 $8,105,000 $89,066 $2,538 5.56%
    $50k-75k 70 $4,370,000 $62,429 $2,800 5.25%
    $250k+ 64 $17,100,000 $267,188 $3,864 5.05%
    $50k or less 32 $1,980,000 $61,875 $2,221 5.84%

    Metro Cu lent most frequently to those with incomes in the $100k-150k range, with 170 originations. The second most popular income band? $150k-250k, with 164 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 521 $49,415,000 $94,846 $0 0.00%
    30-36% 22 $7,470,000 $339,545 $2,733 5.20%
    20-30% 11 $3,665,000 $333,182 $2,985 5.09%
    <20% 10 $3,080,000 $308,000 $3,104 5.41%
    37% 4 $930,000 $232,500 $3,351 5.34%
    47% 3 $925,000 $308,333 $2,735 5.75%
    38% 3 $385,000 $128,333 $2,379 6.17%
    43% 2 $400,000 $200,000 $3,817 6.50%
    36% 2 $940,000 $470,000 $2,241 4.88%
    40% 2 $820,000 $410,000 $4,139 4.75%
    42% 2 $530,000 $265,000 $2,341 4.88%
    45% 2 $360,000 $180,000 $2,452 7.25%
    48% 2 $640,000 $320,000 $2,444 6.19%
    46% 1 $255,000 $255,000 $2,272 5.00%
    41% 1 $285,000 $285,000 $2,896 6.75%
    39% 1 $155,000 $155,000 $2,477 4.75%
    44% 1 $355,000 $355,000 $2,528 5.00%
    49% 1 $375,000 $375,000 $3,441 4.75%

    Metro Cu lent most frequently to those with DTI ratios of Exempt%, with 521 originations. The next most common DTI ratio? 30-36%, with 22 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 442 $52,410,000 $118,575 $2,827 5.39%
    Not provided 102 $13,820,000 $135,490 $3,118 4.99%
    Black 34 $2,780,000 $81,765 $2,785 6.56%
    Asian 8 $1,420,000 $177,500 $2,577 4.92%
    Asian Indian 1 $305,000 $305,000 $0 0.00%
    American Indian 3 $215,000 $71,667 $0 0.00%
    Filipino 1 $35,000 $35,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    84.19%

    Metro Cu has a below average approval rate.

    Pick Rate

    Approvals leading to origination
    72.93%

    Metro Cu has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 521 $49,415,000 $94,846
    NA 70 $21,570,000 $308,143

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    591 $70,985,000 $120,110

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 6 $1,120,000 $186,667 $2,984 5.35%
    40-60% 8 $3,000,000 $375,000 $3,367 5.19%
    60-80% 19 $5,655,000 $297,632 $2,968 5.49%
    80-100% 37 $11,795,000 $318,784 $2,703 5.38%
    Under 20% 1 $85,000 $85,000 $0 0.00%