Metro Cu Mortgage Rates, Fees & Info
Omaha, NELEI: 54930015EUQKUCIRBQ14
Tax ID: 47-6026142
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Mortgage Data
Review & Overview
Metro Cu is a smaller mortgage company specializing in Home Purchase loans. Metro Cu has a high proportion of conventional loans. Their top markets by origination volume include: Omaha, Lincoln, Denver, Fremont, and Kansas City among others. We have data for 9 markets. (Some data included below & more in-depth data is available with an active subscription.)Metro Cu has an above 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 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.
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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| 30 Year Conventional Purchase | 6.40% | 9/22/24 |
| 30 Year Conventional Refi | 6.44% | 9/22/24 |
| 30 Year Cash-out Refi | 6.70% | 9/22/24 |
| 30 Year FHA Purchase | 6.27% | 9/22/24 |
| 30 Year VA Purchase | 6.27% | 9/22/24 |
| 15 Year Conventional Purchase | 6.04% | 9/22/24 |
| 15 Year Conventional Refi | 6.10% | 9/22/24 |
| 15 Year Cash-out Refi | 6.10% | 9/22/24 |
| 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. | ||
Metro Cu Mortgage Calculator
Your Estimates
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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
226Origination Dollar Volume (All Markets)
$36,970,000Top 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 |
|---|---|---|---|---|---|
| OMAHA-COUNCIL BLUFFS, NE-IA (FHA|USDA|VA) | 212 | $34,420,000 | $162,358 | $45 | 4.07% |
| LINCOLN, NE (FHA|USDA|VA) | 4 | $760,000 | $190,000 | $0 | 3.78% |
| DENVER-AURORA-LAKEWOOD, CO (FHA|USDA|VA) | 1 | $505,000 | $505,000 | $0 | 4.00% |
| Fremont, NE (FHA|USDA|VA) | 3 | $395,000 | $131,667 | $0 | 3.92% |
| KANSAS CITY, MO-KS (FHA|USDA|VA) | 1 | $355,000 | $355,000 | $0 | 4.38% |
| Outside of Metro Areas | 2 | $240,000 | $120,000 | $0 | 4.25% |
| Marshalltown, IA (FHA|USDA|VA) | 1 | $165,000 | $165,000 | $0 | 4.13% |
| Burlington, IA-IL (FHA|USDA|VA) | 1 | $75,000 | $75,000 | $0 | 3.50% |
| DES MOINES-WEST DES MOINES, IA (FHA|USDA|VA) | 1 | $55,000 | $55,000 | $0 | 3.75% |
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.
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Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 226 | $36,970,000 | $163,584 | $42 | 4.06% |
For 2019, Metro Cu's most frequently originated type of loan was Conventional, with 226 originations.
Loan Reason
For 2019, Metro Cu's most frequently cited loan purpose was Home Purchase, with 114 originations. The 2nd most popular reason was Cash Out Refi, with 39 originations.
Loan Duration/Length
For 2019, Metro Cu's most frequently cited loan duration was 30 Year, with 152 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 | 222 | $36,290,000 | $163,468 |
| $1k-2k | 4 | $680,000 | $170,000 |
Metro Cu's average total fees were $48, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 222 originations.
Interest Rates
During 2019, Metro Cu's average interest rate for loans was 4.20%, while their most frequently originated rate bucket for loans was 3-4%, with 122 originations.
Loan Sizing
2019 saw Metro Cu place emphasis on $100k-200k loans with 112 originations, totaling $16,000,000 in origination value.
Applicant Income
Metro Cu lent most frequently to those with incomes in the $50k-75k range, with 67 originations. The second most popular income band? $100k-150k, with 57 originations.
Applicant Debt to Income Ratio
Metro Cu lent most frequently to those with DTI ratios of 20-30%, with 55 originations. The next most common DTI ratio? 30-36%, with 50 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications90.96%
Metro Cu has an average approval rate.
Pick Rate
Approvals leading to origination66.81%
Metro Cu has a low pick rate. They may have issues with closing loans or may approve everyone, but with onerous loan terms.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 226 | $36,970,000 | $163,584 |