Great Plains Federal Credit Un Mortgage Rates, Fees & Info
Joplin, MOLEI: 5493001HOQL7ZEKTRZ55
Tax ID: 48-6105171
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Mortgage Data
Review & Overview
Great Plains Federal Credit Un is a smaller mortgage company specializing in Other and Home Purchase loans. Great Plains Federal Credit Un has a high proportion of conventional loans. Their top markets by origination volume include: Salina, Joplin, Mcpherson, Coffeyville, and Great Bend among others. We have data for 13 markets. (Some data included below & more in-depth data is available with an active subscription.)Great Plains Federal Credit Un has an average approval rate when compared to the average across all lenders. They have an average pick rate when compared to similar lenders. Great Plains Federal Credit Un 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.
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Originations
61Origination Dollar Volume (All Markets)
$3,385,000Relative Rate
Great Plains Federal Credit Un's average 30 year fixed mortgage rate was
6.27%.
The 2023 average 30 year fixed rate mortgage across all markets and lenders was 6.48%.
This yields a difference of -0.21%.
Relative Fees (Closing Costs)
Great Plains Federal Credit Un's average total fees/closing costs for a 30 year fixed rate
mortgage were $2,637.
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 | 20 | $1,090,000 | $54,500 | $1,170 | 7.30% |
| Salina, KS (FHA|USDA|VA) | 11 | $585,000 | $53,182 | $902 | 8.12% |
| JOPLIN, MO (FHA|USDA|VA) | 9 | $515,000 | $57,222 | $1,980 | 6.51% |
| McPherson, KS (FHA|USDA|VA) | 8 | $370,000 | $46,250 | $1,033 | 7.21% |
| Coffeyville, KS (FHA|USDA|VA) | 5 | $295,000 | $59,000 | $1,842 | 6.30% |
| Great Bend, KS (FHA|USDA|VA) | 1 | $255,000 | $255,000 | $3,414 | 5.95% |
| Hutchinson, KS (FHA|USDA|VA) | 1 | $75,000 | $75,000 | $3,126 | 6.62% |
| TULSA, OK (FHA|USDA|VA) | 1 | $45,000 | $45,000 | $0 | 6.50% |
| WICHITA, KS (FHA|USDA|VA) | 1 | $35,000 | $35,000 | $0 | 6.50% |
| Parsons, KS (FHA|USDA|VA) | 1 | $35,000 | $35,000 | $0 | 7.75% |
| Liberal, KS (FHA|USDA|VA) | 1 | $35,000 | $35,000 | $25 | 8.00% |
| Dodge City, KS (FHA|USDA|VA) | 1 | $25,000 | $25,000 | $665 | 8.00% |
| Garden City, KS (FHA|USDA|VA) | 1 | $25,000 | $25,000 | $25 | 11.25% |
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 37 | $2,535,000 | $68,514 | $1,264 | 7.69% |
| HELOC | 24 | $850,000 | $35,417 | n/a | 6.63% |
For 2023, Great Plains Federal Credit Un's most frequently originated type of loan was Conventional, with 37 originations. Their 2nd most popular type was HELOC, with 24 originations.
Loan Reason
For 2023, Great Plains Federal Credit Un's most frequently cited loan purpose was Other, with 26 originations. The 2nd most popular reason was Home Purchase, with 21 originations.
Loan Duration/Length
For 2023, Great Plains Federal Credit Un's most frequently cited loan duration was Other, with 35 originations. The 2nd most popular length was 30 Year, with 11 originations.
Origination Fees/Closing Costs
| Origination Fee/Closing Cost | Originations | Total Value | Average Loan |
|---|---|---|---|
| $<1k | 13 | $1,055,000 | $81,154 |
| $1k-2k | 6 | $950,000 | $158,333 |
Great Plains Federal Credit Un's average total fees were $2,637, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 13 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 6-7% | 33 | $1,885,000 | $57,121 |
| 7-8% | 15 | $515,000 | $34,333 |
| 5-6% | 7 | $775,000 | $110,714 |
| Over 8% | 5 | $95,000 | $19,000 |
| 4-5% | 1 | $115,000 | $115,000 |
During 2023, Great Plains Federal Credit Un's average interest rate for loans was 6.27%, while their most frequently originated rate bucket for loans was 6-7%, with 33 originations.
Loan Sizing
2023 saw Great Plains Federal Credit Un place emphasis on $100,000 or less loans with 50 originations, totaling $1,830,000 in origination value.
Applicant Income
Great Plains Federal Credit Un lent most frequently to those with incomes in the $50k-75k range, with 21 originations. The second most popular income band? $50k or less, with 20 originations.
Applicant Debt to Income Ratio
Great Plains Federal Credit Un lent most frequently to those with DTI ratios of 30-36%, with 16 originations. The next most common DTI ratio? <20%, with 16 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications81.48%
Great Plains Federal Credit Un has a below average approval rate.
Pick Rate
Approvals leading to origination93.44%
Great Plains Federal Credit Un has an average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| 0.0 | 1 | $15,000 | $15,000 |
| 25.0 | 1 | $25,000 | $25,000 |
| 2907.15 | 1 | $65,000 | $65,000 |
| 576.0 | 1 | $25,000 | $25,000 |
| 933.0 | 1 | $55,000 | $55,000 |
| NA | 56 | $3,200,000 | $57,143 |