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 Cash Out Refi, Refi, and Home Purchase loans. Metro Cu has a high proportion of conventional loans. They have a a low proportion of FHA loans. (This may mean they shy away from first time homebuyers.) Their top markets by origination volume include: Omaha, Fremont, Tucson, Denver, and Little Rock among others. We have data for 8 markets. (Some data included below & more in-depth data is available with an active subscription.)Metro Cu has a below 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% | 12/16/24 |
| 30 Year Conventional Refi | 6.44% | 12/16/24 |
| 30 Year Cash-out Refi | 6.70% | 12/16/24 |
| 30 Year FHA Purchase | 6.27% | 12/16/24 |
| 30 Year VA Purchase | 6.27% | 12/16/24 |
| 15 Year Conventional Purchase | 6.04% | 12/16/24 |
| 15 Year Conventional Refi | 6.10% | 12/16/24 |
| 15 Year Cash-out Refi | 6.10% | 12/16/24 |
| 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
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
270Origination Dollar Volume (All Markets)
$43,690,000Awards
METRO CU - 2021
METRO CU is a 2021 , due to their low .
For 2021, less than of lenders were eligible for this award.
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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) | 258 | $41,440,000 | $160,620 | $2,184 | 3.03% |
| Outside of Metro Areas | 4 | $660,000 | $165,000 | $2,234 | 2.81% |
| Fremont, NE (FHA|USDA|VA) | 3 | $445,000 | $148,333 | $2,353 | 3.17% |
| TUCSON, AZ (FHA|USDA|VA) | 1 | $425,000 | $425,000 | $4,937 | 3.63% |
| DENVER-AURORA-LAKEWOOD, CO (FHA|USDA|VA) | 1 | $385,000 | $385,000 | $2,358 | 3.00% |
| LITTLE ROCK-NORTH LITTLE ROCK-CONWAY, AR (FHA|USDA|VA) | 1 | $135,000 | $135,000 | $2,656 | 2.75% |
| LINCOLN, NE (FHA|USDA|VA) | 1 | $105,000 | $105,000 | $1,958 | 3.13% |
| DES MOINES-WEST DES MOINES, IA (FHA|USDA|VA) | 1 | $95,000 | $95,000 | $1,913 | 3.25% |
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 | 269 | $43,515,000 | $161,766 | $2,185 | 3.03% |
| FHA | 1 | $175,000 | $175,000 | $5,475 | 2.88% |
For 2021, Metro Cu's most frequently originated type of loan was Conventional, with 269 originations. Their 2nd most popular type was FHA, with 1 originations.
Loan Reason
For 2021, Metro Cu's most frequently cited loan purpose was Cash Out Refi, with 94 originations. The 2nd most popular reason was Refi, with 84 originations.
Loan Duration/Length
For 2021, Metro Cu's most frequently cited loan duration was 30 Year, with 155 originations. The 2nd most popular length was 15 Year, with 76 originations.
Origination Fees/Closing Costs
| Origination Fee/Closing Cost | Originations | Total Value | Average Loan |
|---|---|---|---|
| $1k-2k | 245 | $38,715,000 | $158,020 |
| $<1k | 20 | $3,750,000 | $187,500 |
| $2k-3k | 4 | $1,000,000 | $250,000 |
| $4k-5k | 1 | $225,000 | $225,000 |
Metro Cu's average total fees were $2,250, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 245 originations.
Interest Rates
During 2021, Metro Cu's average interest rate for loans was 3.18%, while their most frequently originated rate bucket for loans was 2.5-3%, with 108 originations.
Loan Sizing
2021 saw Metro Cu place emphasis on $100k-200k loans with 149 originations, totaling $21,185,000 in origination value.
Applicant Income
Metro Cu lent most frequently to those with incomes in the $50k-75k range, with 82 originations. The second most popular income band? $100k-150k, with 67 originations.
Applicant Debt to Income Ratio
Metro Cu lent most frequently to those with DTI ratios of 20-30%, with 75 originations. The next most common DTI ratio? 30-36%, with 57 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications67.52%
Metro Cu has a low approval rate. They may have poor market targeting or stringent lending standards.
Pick Rate
Approvals leading to origination63.70%
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 | 270 | $43,690,000 | $161,815 |