Metro Cu Mortgage Rates, Fees & Info

Omaha, NE

LEI: 54930015EUQKUCIRBQ14

Tax ID: 47-6026142

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

Jump to:

  • SimulatedRates™
  • Mortgage Calculator

    • Mortgage Data

  • Originations
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • Similar Lenders
  • Loan Length
  • Loan to Value Info
  • Debt-to-Income
  • Applicant Income
  • Ethnicity Info
  • Approval & Pick Rates
  • Points and Fees
  • Origination Fees (Closing Costs)

    • Review & Overview

    Metro Cu is a smaller mortgage company specializing in Refi, Cash Out Refi, and Home Purchase loans. Metro Cu has a high proportion of conventional loans. Their top markets by origination volume include: Omaha, Lincoln, Tucson, Show Low, and Fremont among others. We have data for 10 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 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.

    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% 5/4/24
    30 Year Conventional Refi 6.44% 5/4/24
    30 Year Cash-out Refi 6.70% 5/4/24
    30 Year FHA Purchase 6.27% 5/4/24
    30 Year VA Purchase 6.27% 5/4/24
    15 Year Conventional Purchase 6.04% 5/4/24
    15 Year Conventional Refi 6.10% 5/4/24
    15 Year Cash-out Refi 6.10% 5/4/24
    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

    430

    Origination Dollar Volume (All Markets)

    $71,820,000

    Awards

    METRO CU 30 Year Conventional Loans bronze METRO CU 30 Year Conventional Loans silver
    Show all (2) awards

    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
    OMAHA-COUNCIL BLUFFS, NE-IA (FHA|USDA|VA) 414 $69,250,000 $167,271 $2,181 3.16%
    LINCOLN, NE (FHA|USDA|VA) 4 $580,000 $145,000 $2,212 3.22%
    Outside of Metro Areas 4 $510,000 $127,500 $1,224 3.34%
    TUCSON, AZ (FHA|USDA|VA) 1 $405,000 $405,000 $4,385 3.13%
    Show Low, AZ (FHA|USDA|VA) 1 $225,000 $225,000 $3,608 3.25%
    Fremont, NE (FHA|USDA|VA) 2 $220,000 $110,000 $1,103 3.13%
    PRESCOTT VALLEY-PRESCOTT, AZ (FHA|USDA|VA) 1 $175,000 $175,000 $3,753 3.63%
    KANSAS CITY, MO-KS (FHA|USDA|VA) 1 $175,000 $175,000 $2,248 3.25%
    Norfolk, NE (FHA|USDA|VA) 1 $165,000 $165,000 $0 3.50%
    MINNEAPOLIS-ST. PAUL-BLOOMINGTON, MN-WI (FHA|USDA|VA) 1 $115,000 $115,000 $2,259 2.63%
    Metro Cu's top markets include Omaha, Lincoln, Tucson, Show Low, and Fremont among others.

    Their top states include:
  • Nebraska (FHA|USDA|VA)
  • Iowa (FHA|USDA|VA)
  • Arizona (FHA|USDA|VA)
  • Missouri (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.

    CREIGHTON FEDERAL CREDIT UNION
    Similarity Rank: 207
    KELLOGG MIDWEST FEDERAL CREDIT UNION
    Similarity Rank: 252
    MUTUAL FIRST
    Similarity Rank: 288
    LIBERTY FIRST
    Similarity Rank: 396
    CORNHUSKER BANK
    Similarity Rank: 495
    South Metro Federal Credit Union
    Similarity Rank: 564
    Cobalt Credit Union
    Similarity Rank: 855
    METRO CU
    Similarity Rank: 880
    Central National Bank
    Similarity Rank: 900
    Union Bank and Trust Company
    Similarity Rank: 1240

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 429 $71,595,000 $166,888 $2,161 3.16%
    VA 1 $225,000 $225,000 $8,310 3.38%

    For 2020, Metro Cu's most frequently originated type of loan was Conventional, with 429 originations. Their 2nd most popular type was VA, with 1 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Refi 201 $32,895,000 $163,657 $2,157 2.94%
    Cash Out Refi 111 $16,985,000 $153,018 $2,104 3.34%
    Home Purchase 107 $20,425,000 $190,888 $2,308 3.40%
    Other 10 $1,380,000 $138,000 $2,112 3.11%
    Home Improvement 1 $135,000 $135,000 $0 3.63%

    For 2020, Metro Cu's most frequently cited loan purpose was Refi, with 201 originations. The 2nd most popular reason was Cash Out Refi, with 111 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 235 $42,655,000 $181,511 $2,224 3.41%
    15 Year 137 $19,095,000 $139,380 $2,127 2.80%
    20 Year 44 $7,420,000 $168,636 $2,054 3.12%
    10 Year 13 $2,335,000 $179,615 $2,379 2.70%
    30+ year 1 $315,000 $315,000 $0 3.50%

    For 2020, Metro Cu's most frequently cited loan duration was 30 Year, with 235 originations. The 2nd most popular length was 15 Year, with 137 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $1k-2k 365 $59,045,000 $161,767
    $<1k 42 $7,780,000 $185,238
    $2k-3k 13 $2,895,000 $222,692
    $3k-4k 6 $1,140,000 $190,000
    $4k-5k 2 $420,000 $210,000
    $5k+ 2 $540,000 $270,000

    Metro Cu's average total fees were $2,224, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 365 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    3-4% 203 $36,975,000 $182,143
    2.5-3% 169 $25,995,000 $153,817
    <2.5% 35 $5,015,000 $143,286
    4-5% 20 $3,410,000 $170,500
    5-6% 2 $310,000 $155,000
    7-8% 1 $115,000 $115,000

    During 2020, Metro Cu's average interest rate for loans was 3.41%, while their most frequently originated rate bucket for loans was 3-4%, with 203 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100k-200k 257 $37,915,000 $147,529 $2,092 3.18%
    $200k-400k 101 $26,415,000 $261,535 $2,480 3.23%
    $100,000 or less 67 $5,285,000 $78,881 $1,976 2.98%
    $400k-600k 5 $2,205,000 $441,000 $2,950 3.43%

    2020 saw Metro Cu place emphasis on $100k-200k loans with 257 originations, totaling $37,915,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 139 $25,935,000 $186,583 $2,248 3.23%
    $50k-75k 89 $12,105,000 $136,011 $2,095 3.18%
    $75k-100k 85 $13,885,000 $163,353 $2,112 3.14%
    $50k or less 56 $6,180,000 $110,357 $1,920 3.10%
    $150k-250k 50 $10,490,000 $209,800 $2,311 3.02%
    $250k+ 11 $3,225,000 $293,182 $3,072 3.32%

    Metro Cu lent most frequently to those with incomes in the $100k-150k range, with 139 originations. The second most popular income band? $50k-75k, with 89 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 133 $23,055,000 $173,346 $2,263 3.11%
    30-36% 95 $16,375,000 $172,368 $2,251 3.19%
    <20% 67 $10,055,000 $150,075 $1,921 2.96%
    38% 17 $2,515,000 $147,941 $2,230 3.60%
    39% 17 $2,425,000 $142,647 $2,177 3.20%
    41% 14 $3,110,000 $222,143 $2,258 3.41%
    37% 14 $2,110,000 $150,714 $2,071 3.04%
    40% 11 $2,145,000 $195,000 $2,002 3.41%
    45% 10 $1,670,000 $167,000 $2,117 3.55%
    36% 9 $1,235,000 $137,222 $2,186 3.14%
    46% 9 $1,295,000 $143,889 $2,757 3.15%
    44% 9 $1,395,000 $155,000 $2,206 3.44%
    42% 7 $1,285,000 $183,571 $1,953 3.30%
    43% 6 $1,050,000 $175,000 $1,967 3.29%
    48% 5 $855,000 $171,000 $1,999 2.88%
    49% 3 $495,000 $165,000 $2,297 2.88%
    47% 2 $360,000 $180,000 $2,640 3.44%
    50-60% 1 $105,000 $105,000 $0 3.50%
    >60% 1 $285,000 $285,000 $1,073 2.38%

    Metro Cu lent most frequently to those with DTI ratios of 20-30%, with 133 originations. The next most common DTI ratio? 30-36%, with 95 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 370 $62,580,000 $169,135 $2,152 3.17%
    Not provided 30 $5,060,000 $168,667 $2,457 3.17%
    Black 20 $2,940,000 $147,000 $2,242 3.16%
    Asian 8 $1,010,000 $126,250 $2,344 2.84%
    American Indian 2 $230,000 $115,000 $958 3.81%

    Approval Rates

    Total approvals of all applications
    82.54%

    Metro Cu has a below average approval rate.

    Pick Rate

    Approvals leading to origination
    67.21%

    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 430 $71,820,000 $167,023

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Single Family (1-4 Units):Site-Built 430 $71,820,000 $167,023

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 24 $2,440,000 $101,667 $2,127 2.89%
    40-60% 92 $11,380,000 $123,696 $2,095 2.89%
    60-80% 199 $34,235,000 $172,035 $2,144 3.18%
    80-100% 113 $23,355,000 $206,681 $2,251 3.41%
    Over 100% 1 $225,000 $225,000 $8,310 3.38%