Ithink Financial Credit Union Mortgage Rates, Fees & Info

Delray Beach, FL

LEI: 5493003BXKRGHQHRJV38

Tax ID: 59-1286880

2.1 stars - out of 5 stars, based on 37 reviews

2021 Data | 2020 Data | 2019 Data | 2018 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

1,387

Origination Dollar Volume (All Markets)

$517,575,000
Show all (8) awards

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 applications
85.65%

Ithink Financial Credit Union has an average approval rate.

Pick Rate

Approvals leading to origination
86.55%

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%