Ithink Financial Credit Union Mortgage Rates, Fees & Info
Delray Beach, FLLEI: 5493003BXKRGHQHRJV38
Tax ID: 59-1286880
2021 Data | 2020 Data | 2019 Data | 2018 Data
Jump to:
Mortgage Data
Overview
Ithink Financial Credit Union is a smaller credit union specializing in Cash Out Refi, Home Purchase, and Refi loans. Ithink Financial Credit Union has a high proportion of conventional loans. They have a low ratio of USDA loans. They have a a low proportion of FHA loans. (This may mean they shy away from first time homebuyers.) Their top markets include Miami, Atlanta, Port St. Lucie, Orlando, and Tampa among others. Ithink Financial Credit Union has an average approval rate for mortages when compared nationally. They have a below average pick rate when compared to the same sample of other lendors. Ithink Financial Credit Union is typically a high fee lendor.Originations
1,387Origination Dollar Volume (All Markets)
$517,575,000Awards
ITHINK FINANCIAL Credit Union - 2021
ITHINK FINANCIAL Credit Union is a 2021 , due to their low .
For 2021, less than of lenders were eligible for this award.
Work for ITHINK FINANCIAL Credit Union?
Use this award on your own site. Either save and use the images below, or pass the provided image embed code to your development team.
Relative Rate
Ithink Financial Credit Union's average 30 year fixed rate mortgage of loans were
2.98%.
The 2021 average 30 year fixed rate mortgage across all markets of loans were 3.15%.
This yields a difference of -0.17%.
Relative Fees
Ithink Financial Credit Union's average total fees for a 30 year fixed rate
mortgage are $8,192.
The average total origination fees for 30 year fixed rate mortgages (for all loan values, including
both points & up-front fees in addition to origination fees) are $4,750.
Top Markets
| Market | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) | 562 | $271,880,000 | $483,772 | $9,856 | 3.28% |
| ATLANTA-SANDY SPRINGS-ALPHARETTA, GA (FHA|USDA|VA) | 354 | $63,140,000 | $178,362 | $3,157 | 3.45% |
| PORT ST. LUCIE, FL (FHA|USDA|VA) | 152 | $54,830,000 | $360,724 | $6,147 | 3.24% |
| ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) | 38 | $22,510,000 | $592,368 | $11,399 | 3.16% |
| TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) | 36 | $10,170,000 | $282,500 | $6,642 | 3.28% |
| NAPLES-MARCO ISLAND, FL (FHA|USDA|VA) | 8 | $9,460,000 | $1,182,500 | $16,118 | 2.95% |
| Sebastian-Vero Beach, FL (FHA|USDA|VA) | 29 | $8,075,000 | $278,448 | $5,238 | 3.08% |
| Key West, FL (FHA|USDA|VA) | 6 | $7,910,000 | $1,318,333 | $16,483 | 2.92% |
| JACKSONVILLE, FL (FHA|USDA|VA) | 18 | $6,370,000 | $353,889 | $8,014 | 3.16% |
| North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) | 13 | $5,375,000 | $413,462 | $7,937 | 2.99% |
| WORCESTER, MA-CT (FHA|USDA|VA) | 19 | $5,035,000 | $265,000 | $2,901 | 3.06% |
| DELTONA-DAYTONA BEACH-ORMOND BEACH, FL (FHA|USDA|VA) | 15 | $4,805,000 | $320,333 | $7,057 | 3.51% |
| Washington-Arlington-Alexandria, DC-VA-MD-WV (FHA|USDA|VA) | 4 | $4,570,000 | $1,142,500 | $10,247 | 2.56% |
| PALM BAY-MELBOURNE-TITUSVILLE, FL (FHA|USDA|VA) | 9 | $4,145,000 | $460,556 | $10,881 | 3.10% |
| PUNTA GORDA, FL (FHA|USDA|VA) | 3 | $3,495,000 | $1,165,000 | $12,615 | 2.88% |
| CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) | 6 | $3,160,000 | $526,667 | $7,433 | 3.31% |
| Outside of Metro Areas | 16 | $2,630,000 | $164,375 | $2,877 | 3.64% |
| BALTIMORE-COLUMBIA-TOWSON, MD (FHA|USDA|VA) | 3 | $2,465,000 | $821,667 | $4,330 | 2.79% |
| PROVIDENCE-WARWICK, RI-MA (FHA|USDA|VA) | 2 | $1,890,000 | $945,000 | $12,788 | 2.56% |
| SAN DIEGO-CHULA VISTA-CARLSBAD, CA (FHA|USDA|VA) | 1 | $1,505,000 | $1,505,000 | $16,020 | 2.75% |
| Boston-Cambridge-Newton, MA-NH (FHA|USDA|VA) | 3 | $1,305,000 | $435,000 | $2,729 | 3.00% |
| New York-Newark-Jersey City, NY-NJ-PA (FHA|USDA|VA) | 3 | $1,245,000 | $415,000 | $5,631 | 3.79% |
| MYRTLE BEACH-CONWAY-NORTH MYRTLE BEACH, SC-NC (FHA|USDA|VA) | 5 | $1,035,000 | $207,000 | $3,008 | 3.30% |
| RALEIGH-CARY, NC (FHA|USDA|VA) | 4 | $1,030,000 | $257,500 | $2,465 | 4.19% |
| TALLAHASSEE, FL (FHA|USDA|VA) | 1 | $995,000 | $995,000 | $13,712 | 2.75% |
| LAKELAND-WINTER HAVEN, FL (FHA|USDA|VA) | 6 | $960,000 | $160,000 | $4,160 | 2.83% |
| OCALA, FL (FHA|USDA|VA) | 3 | $945,000 | $315,000 | $6,008 | 2.79% |
| RICHMOND, VA (FHA|USDA|VA) | 1 | $885,000 | $885,000 | $14,417 | 2.88% |
| DENVER-AURORA-LAKEWOOD, CO (FHA|USDA|VA) | 2 | $830,000 | $415,000 | $0 | 3.38% |
| ROANOKE, VA (FHA|USDA|VA) | 1 | $825,000 | $825,000 | $4,278 | 2.88% |
| Morehead City, NC (FHA|USDA|VA) | 1 | $765,000 | $765,000 | $4,920 | 2.88% |
| Los Angeles-Long Beach-Anaheim, CA (FHA|USDA|VA) | 1 | $745,000 | $745,000 | $0 | 3.13% |
| AUSTIN-ROUND ROCK-GEORGETOWN, TX (FHA|USDA|VA) | 1 | $725,000 | $725,000 | $9,166 | 2.38% |
| SPRINGFIELD, MA (FHA|USDA|VA) | 3 | $705,000 | $235,000 | $2,962 | 2.83% |
| LEXINGTON-FAYETTE, KY (FHA|USDA|VA) | 1 | $685,000 | $685,000 | $10,238 | 2.38% |
| NASHVILLE-DAVIDSON--MURFREESBORO--FRANKLIN, TN (FHA|USDA|VA) | 1 | $645,000 | $645,000 | $0 | 3.75% |
| ASHEVILLE, NC (FHA|USDA|VA) | 2 | $580,000 | $290,000 | $2,917 | 3.06% |
| WARNER ROBINS, GA (FHA|USDA|VA) | 2 | $540,000 | $270,000 | $3,061 | 2.75% |
| BARNSTABLE TOWN, MA (FHA|USDA|VA) | 1 | $525,000 | $525,000 | $3,415 | 3.25% |
| DURHAM-CHAPEL HILL, NC (FHA|USDA|VA) | 3 | $525,000 | $175,000 | $2,287 | 2.92% |
| GAINESVILLE, GA (FHA|USDA|VA) | 3 | $485,000 | $161,667 | $2,964 | 3.63% |
| HOMOSASSA SPRINGS, FL (FHA|USDA|VA) | 3 | $435,000 | $145,000 | $2,632 | 3.54% |
| HICKORY-LENOIR-MORGANTON, NC (FHA|USDA|VA) | 1 | $425,000 | $425,000 | $4,056 | 2.88% |
| SPARTANBURG, SC (FHA|USDA|VA) | 2 | $390,000 | $195,000 | $3,175 | 3.06% |
| ALBANY, GA (FHA|USDA|VA) | 1 | $365,000 | $365,000 | $3,688 | 2.88% |
| Tupelo, MS (FHA|USDA|VA) | 1 | $355,000 | $355,000 | $3,489 | 2.63% |
| EAST STROUDSBURG, PA (FHA|USDA|VA) | 1 | $355,000 | $355,000 | $5,040 | 3.13% |
| CHATTANOOGA, TN-GA (FHA|USDA|VA) | 1 | $345,000 | $345,000 | $1,994 | 2.88% |
| HILTON HEAD ISLAND-BLUFFTON, SC (FHA|USDA|VA) | 2 | $310,000 | $155,000 | $6,417 | 2.69% |
| CHARLOTTE-CONCORD-GASTONIA, NC-SC (FHA|USDA|VA) | 3 | $305,000 | $101,667 | $2,429 | 3.54% |
| Sevierville, TN (FHA|USDA|VA) | 1 | $275,000 | $275,000 | $3,203 | 3.25% |
| Detroit-Warren-Dearborn, MI (FHA|USDA|VA) | 1 | $255,000 | $255,000 | $2,706 | 3.25% |
| BRUNSWICK, GA (FHA|USDA|VA) | 1 | $255,000 | $255,000 | $3,534 | 2.88% |
| ST. LOUIS, MO-IL (FHA|USDA|VA) | 1 | $215,000 | $215,000 | $1,666 | 3.00% |
| SAVANNAH, GA (FHA|USDA|VA) | 1 | $205,000 | $205,000 | $3,119 | 2.50% |
| INDIANAPOLIS-CARMEL-ANDERSON, IN (FHA|USDA|VA) | 1 | $205,000 | $205,000 | $0 | 3.00% |
| PANAMA CITY, FL (FHA|USDA|VA) | 1 | $195,000 | $195,000 | $6,500 | 2.63% |
| HINESVILLE, GA (FHA|USDA|VA) | 1 | $185,000 | $185,000 | $3,649 | 2.88% |
| PEORIA, IL (FHA|USDA|VA) | 1 | $165,000 | $165,000 | $0 | 5.50% |
| GREENVILLE, NC (FHA|USDA|VA) | 1 | $165,000 | $165,000 | $3,013 | 4.25% |
| PHOENIX-MESA-CHANDLER, AZ (FHA|USDA|VA) | 3 | $155,000 | $51,667 | $2,409 | 3.71% |
| Philadelphia-Camden-Wilmington, PA-NJ-DE-MD (FHA|USDA|VA) | 1 | $155,000 | $155,000 | $0 | 4.00% |
| PORTLAND-VANCOUVER-HILLSBORO, OR-WA (FHA|USDA|VA) | 1 | $155,000 | $155,000 | $0 | 4.00% |
| PARKERSBURG-VIENNA, WV (FHA|USDA|VA) | 1 | $145,000 | $145,000 | $2,445 | 2.88% |
| BISMARCK, ND (FHA|USDA|VA) | 1 | $145,000 | $145,000 | $2,617 | 3.50% |
| GREELEY, CO (FHA|USDA|VA) | 1 | $105,000 | $105,000 | $0 | 4.00% |
| Seneca, SC (FHA|USDA|VA) | 1 | $105,000 | $105,000 | $3,183 | 2.75% |
| CRESTVIEW-FORT WALTON BEACH-DESTIN, FL (FHA|USDA|VA) | 1 | $105,000 | $105,000 | $0 | 4.00% |
| Palatka, FL (FHA|USDA|VA) | 1 | $105,000 | $105,000 | $4,945 | 2.75% |
| WINSTON-SALEM, NC (FHA|USDA|VA) | 1 | $105,000 | $105,000 | $2,827 | 2.88% |
| AUGUSTA-RICHMOND COUNTY, GA-SC (FHA|USDA|VA) | 1 | $85,000 | $85,000 | $0 | 4.00% |
| Chicago-Naperville-Elgin, IL-IN-WI (FHA|USDA|VA) | 1 | $65,000 | $65,000 | $2,109 | 2.50% |
| Cedartown, GA (FHA|USDA|VA) | 1 | $65,000 | $65,000 | $2,581 | 3.25% |
| Thomaston, GA (FHA|USDA|VA) | 1 | $65,000 | $65,000 | $2,698 | 4.38% |
| Cookeville, TN (FHA|USDA|VA) | 1 | $65,000 | $65,000 | $2,667 | 3.00% |
| ANNISTON-OXFORD, AL (FHA|USDA|VA) | 1 | $55,000 | $55,000 | $0 | 3.00% |
| TRENTON-PRINCETON, NJ (FHA|USDA|VA) | 1 | $45,000 | $45,000 | $0 | 4.00% |
| SCRANTON--WILKES-BARRE, PA (FHA|USDA|VA) | 1 | $45,000 | $45,000 | $2,685 | 3.00% |
Ithink Financial Credit Union's top markets include Miami, Atlanta, Port St. Lucie, Orlando, and Tampa among others.
Product Mix
| Loan Type | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Conventional | 1,366 | $509,610,000 | $373,067 | $7,027 | 3.29% |
| USDA | 12 | $2,320,000 | $193,333 | $8,327 | 4.00% |
| VA | 6 | $2,230,000 | $371,667 | $6,095 | 3.44% |
| FHA | 3 | $3,415,000 | $1,138,333 | $19,708 | 3.04% |
For the 2021 period, Ithink Financial Credit Union's most frequently originated loan type of loans were Conventional, with 1,366 originations. Their 2nd most popular type is USDA, with 12 originations.
Loan Reason
| Loan Reason | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Cash Out Refi | 766 | $159,660,000 | $208,433 | $4,150 | 3.58% |
| Home Purchase | 381 | $245,105,000 | $643,320 | $10,311 | 3.02% |
| Refi | 236 | $109,830,000 | $465,381 | $5,965 | 2.82% |
| Home Improvement | 4 | $2,980,000 | $745,000 | $20,741 | 3.84% |
For the 2021, Ithink Financial Credit Union's most frequently cited loan purpose of loans were Cash Out Refi, with 766 originations. The 2nd most popular reason of loans were Home Purchase, with 381 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| 30 Year | 726 | $425,370,000 | $585,909 | $8,192 | 2.98% |
| 20 Year | 464 | $53,980,000 | $116,336 | $3,393 | 3.84% |
| 15 Year | 136 | $23,200,000 | $170,588 | $2,888 | 2.98% |
| 10 Year | 37 | $3,925,000 | $106,081 | $2,587 | 3.36% |
| Other | 13 | $2,745,000 | $211,154 | $10,503 | 4.43% |
| 30+ year | 10 | $8,140,000 | $814,000 | $9,414 | 3.53% |
| 5 Year | 1 | $215,000 | $215,000 | $0 | 4.50% |
For the 2021, Ithink Financial Credit Union's most frequently cited loan length of loans were 30 Year, with 726 originations. The 2nd most popular length of loans were 20 Year, with 464 originations.
Origination Fees
| Origination Fee | Originations | Total Value | Average Loan |
|---|---|---|---|
| $<1k | 546 | $136,730,000 | $250,421 |
| $5k+ | 146 | $202,470,000 | $1,386,781 |
| $3k-4k | 103 | $55,285,000 | $536,748 |
| $2k-3k | 44 | $11,360,000 | $258,182 |
| $1k-2k | 42 | $47,600,000 | $1,133,333 |
$8,192 of loans were Ithink Financial Credit Union's average total fees, while their most frequently occuring range of origination fees were in the $<1k bucket, with 546 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 2.5-3% | 589 | $275,115,000 | $467,088 |
| 3-4% | 542 | $120,270,000 | $221,900 |
| <2.5% | 152 | $106,320,000 | $699,474 |
| 4-5% | 46 | $10,460,000 | $227,391 |
| 5-6% | 37 | $4,255,000 | $115,000 |
| 6-7% | 17 | $925,000 | $54,412 |
| Over 8% | 4 | $230,000 | $57,500 |
During 2021, Ithink Financial Credit Union's average interest rate of loans were 2.98%, while their most frequently originated rate bucket of loans were 2.5-3%, with 589 originations.
Loan Sizing
| Loan Size | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| $100k-200k | 392 | $53,550,000 | $136,607 | $3,061 | 3.29% |
| $200k-400k | 349 | $95,785,000 | $274,456 | $4,369 | 3.07% |
| $100,000 or less | 339 | $19,745,000 | $58,245 | $2,551 | 3.92% |
| $1MM+ | 107 | $221,575,000 | $2,070,794 | $19,716 | 2.79% |
| $600k-1MM | 105 | $81,475,000 | $775,952 | $10,598 | 2.80% |
| $400k-600k | 95 | $45,445,000 | $478,368 | $12,392 | 3.08% |
2021 saw Ithink Financial Credit Union place emphasis on $100k-200k loans with 392 originations, totaling $53,550,000 in origination value.
Applicant Income
| Applicant Income | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| $100k-150k | 282 | $58,010,000 | $205,709 | $4,152 | 3.42% |
| $150k-250k | 262 | $91,190,000 | $348,053 | $10,153 | 3.37% |
| $50k-75k | 224 | $35,510,000 | $158,527 | $3,564 | 3.34% |
| $250k+ | 218 | $253,830,000 | $1,164,358 | $14,058 | 3.02% |
| $50k or less | 208 | $41,760,000 | $200,769 | $4,503 | 3.25% |
| $75k-100k | 193 | $37,275,000 | $193,135 | $4,177 | 3.34% |
Ithink Financial Credit Union lent most frequently to those with incomes in the $100k-150k range, with 282 originations. The second most popular income band? $150k-250k, with 262 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| 20-30% | 323 | $106,275,000 | $329,025 | $6,045 | 3.31% |
| 30-36% | 249 | $84,765,000 | $340,422 | $6,155 | 3.32% |
| <20% | 170 | $61,210,000 | $360,059 | $6,896 | 3.27% |
| 44% | 88 | $50,710,000 | $576,250 | $11,779 | 3.39% |
| 41% | 61 | $24,405,000 | $400,082 | $7,286 | 3.29% |
| 43% | 58 | $22,110,000 | $381,207 | $20,253 | 3.36% |
| 42% | 55 | $18,895,000 | $343,545 | $7,089 | 3.18% |
| 37% | 54 | $41,530,000 | $769,074 | $10,383 | 3.44% |
| 38% | 50 | $18,750,000 | $375,000 | $6,092 | 3.25% |
| 40% | 41 | $24,385,000 | $594,756 | $8,503 | 3.34% |
| 39% | 37 | $6,125,000 | $165,541 | $4,333 | 3.68% |
| 36% | 37 | $14,215,000 | $384,189 | $6,624 | 3.14% |
| 46% | 21 | $5,205,000 | $247,857 | $3,090 | 3.16% |
| 49% | 21 | $5,945,000 | $283,095 | $3,533 | 3.00% |
| 45% | 20 | $7,650,000 | $382,500 | $6,233 | 3.36% |
| 48% | 13 | $2,605,000 | $200,385 | $3,428 | 3.08% |
| 47% | 11 | $3,005,000 | $273,182 | $3,623 | 3.25% |
| 50-60% | 8 | $2,520,000 | $315,000 | $3,507 | 3.22% |
| >60% | 5 | $915,000 | $183,000 | $3,514 | 3.08% |
Ithink Financial Credit Union lent most frequently to those with DTI ratios of 20-30%, with 323 originations. The next most common DTI ratio? 30-36%, with 249 originations.
Ethnicity Mix
| Applicant Ethnicity | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| White | 1,080 | $431,050,000 | $399,120 | $7,634 | 3.29% |
| Not provided | 78 | $34,740,000 | $445,385 | $7,423 | 3.25% |
| Black | 179 | $32,495,000 | $181,536 | $3,420 | 3.35% |
| Asian | 38 | $16,460,000 | $433,158 | $7,068 | 3.11% |
| American Indian | 6 | $1,760,000 | $293,333 | $4,448 | 3.48% |
| Not applicable | 3 | $625,000 | $208,333 | $0 | 4.83% |
| Other Asian | 1 | $295,000 | $295,000 | $3,513 | 4.38% |
| Native Hawaiian | 1 | $85,000 | $85,000 | $0 | 4.00% |
| Asian Indian | 1 | $65,000 | $65,000 | $0 | 4.00% |
Approval Rates
Total approvals of all applications85.65%
Ithink Financial Credit Union has an average approval rate.
Pick Rate
Approvals leading to origination86.55%
Ithink Financial Credit Union has an average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| 10600.0 | 1 | $1,065,000 | $1,065,000 |
| 1085.63 | 1 | $285,000 | $285,000 |
| 2038.0 | 1 | $205,000 | $205,000 |
| 740.0 | 1 | $145,000 | $145,000 |
| NA | 1,383 | $515,875,000 | $373,012 |
Occupancy Type Mix
| Dwelling Type | Originations | Total Value | Average Loan |
|---|---|---|---|
| 1,387 | $517,575,000 | $373,161 |
LTV Distribution
| Loan to Value | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| 20-40% | 254 | $43,420,000 | $170,945 | $3,744 | 3.52% |
| 40-60% | 258 | $113,830,000 | $441,202 | $5,922 | 3.06% |
| 60-80% | 503 | $291,925,000 | $580,368 | $8,759 | 3.00% |
| 80-100% | 122 | $47,510,000 | $389,426 | $5,364 | 3.01% |
| Under 20% | 250 | $20,890,000 | $83,560 | $5,299 | 4.05% |
