Vibrant Credit Union Mortgage Rates, Fees & Info
Moline, ILLEI: 5493001YLK9E8PF87B85
Tax ID: 36-6068452
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Mortgage Data
Review & Overview
Vibrant Credit Union is a smaller credit union specializing in Home Purchase and Cash Out Refi loans. Vibrant Credit Union has a high proportion of conventional loans. Their top markets by origination volume include: Davenport, Chicago, Asheville, Iowa City, and Lafayette among others. We have data for 6 markets. (Some data included below & more in-depth data is available with an active subscription.)Vibrant Credit Union has an above average approval rate when compared to the average across all lenders. They have an above average pick rate when compared to similar lenders. Vibrant Credit Union 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.
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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| Home Equity Line of Credit (HELOC) | 6.63% | 4/18/24 |
| 30 Year Conventional Purchase | 6.33% | 4/18/24 |
| 30 Year Conventional Refi | 6.23% | 4/18/24 |
| 30 Year Cash-out Refi | 6.62% | 4/18/24 |
| 15 Year Conventional Purchase | 6.15% | 4/18/24 |
| 15 Year Conventional Refi | 5.91% | 4/18/24 |
| 15 Year Cash-out Refi | 5.91% | 4/18/24 |
| 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. | ||
Vibrant Credit Union Mortgage Calculator
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
27Origination Dollar Volume (All Markets)
$2,765,000Awards
Vibrant Credit Union - 2023
Vibrant Credit Union is a 2023 , due to their low .
For 2023, less than of lenders were eligible for this award.
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Relative Rate
Vibrant Credit Union's average 30 year fixed mortgage rate was
5.94%.
The 2023 average 30 year fixed rate mortgage across all markets and lenders was 6.48%.
This yields a difference of -0.54%.
Relative Fees (Closing Costs)
Vibrant Credit Union's average total fees/closing costs for a 30 year fixed rate
mortgage were $2,266.
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 |
|---|---|---|---|---|---|
| DAVENPORT-MOLINE-ROCK ISLAND, IA-IL (FHA|USDA|VA) | 21 | $1,775,000 | $84,524 | $1,912 | 7.10% |
| Chicago-Naperville-Elgin, IL-IN-WI (FHA|USDA|VA) | 2 | $300,000 | $150,000 | $2,770 | 5.75% |
| ASHEVILLE, NC (FHA|USDA|VA) | 1 | $295,000 | $295,000 | $3,308 | 6.38% |
| IOWA CITY, IA (FHA|USDA|VA) | 1 | $175,000 | $175,000 | $0 | 7.50% |
| LAFAYETTE-WEST LAFAYETTE, IN (FHA|USDA|VA) | 1 | $115,000 | $115,000 | $2,576 | 5.63% |
| DES MOINES-WEST DES MOINES, IA (FHA|USDA|VA) | 1 | $105,000 | $105,000 | $1,617 | 5.75% |
Similar Lenders
We use machine learning to identify the top lenders compared against Vibrant Credit Union 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 | 27 | $2,765,000 | $102,407 | $2,095 | 6.88% |
For 2023, Vibrant Credit Union's most frequently originated type of loan was Conventional, with 27 originations.
Loan Reason
| Loan Reason | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Home Purchase | 13 | $1,675,000 | $128,846 | $2,744 | 6.84% |
| Cash Out Refi | 9 | $765,000 | $85,000 | $1,831 | 5.92% |
| Refi | 5 | $325,000 | $65,000 | $1,487 | 8.75% |
For 2023, Vibrant Credit Union's most frequently cited loan purpose was Home Purchase, with 13 originations. The 2nd most popular reason was Cash Out Refi, with 9 originations.
Loan Duration/Length
For 2023, Vibrant Credit Union's most frequently cited loan duration was 30 Year, with 15 originations. The 2nd most popular length was 5 Year, with 7 originations.
Origination Fees/Closing Costs
| Origination Fee/Closing Cost | Originations | Total Value | Average Loan |
|---|---|---|---|
| $<1k | 19 | $2,085,000 | $109,737 |
Vibrant Credit Union's average total fees were $2,266, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 19 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 5-6% | 11 | $1,125,000 | $102,273 |
| 6-7% | 5 | $825,000 | $165,000 |
| 7-8% | 5 | $555,000 | $111,000 |
| Over 8% | 5 | $205,000 | $41,000 |
| 4-5% | 1 | $55,000 | $55,000 |
During 2023, Vibrant Credit Union's average interest rate for loans was 5.94%, while their most frequently originated rate bucket for loans was 5-6%, with 11 originations.
Loan Sizing
2023 saw Vibrant Credit Union place emphasis on $100,000 or less loans with 16 originations, totaling $1,050,000 in origination value.
Applicant Income
Vibrant Credit Union lent most frequently to those with incomes in the $100k-150k range, with 6 originations. The second most popular income band? $50k or less, with 5 originations.
Applicant Debt to Income Ratio
Vibrant Credit Union lent most frequently to those with DTI ratios of 20-30%, with 5 originations. The next most common DTI ratio? 42%, with 3 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications94.44%
Vibrant Credit Union has an average approval rate.
Pick Rate
Approvals leading to origination92.59%
Vibrant Credit Union has an average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 27 | $2,765,000 | $102,407 |