Ithink Financial Credit Union Mortgage Rates, Fees & Info

Delray Beach, FL

LEI: 5493003BXKRGHQHRJV38

Tax ID: 59-1286880

1 stars - Updated: 10/13/24 - out of 5 stars, based on 29 reviews

Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data

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Mortgage Data

Review & Overview

Ithink Financial Credit Union is a smaller credit union specializing in Cash Out Refi and Home Purchase 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.) They have a low ratio of USDA loans. Their top markets by origination volume include: Miami, Atlanta, Port St. Lucie, Orlando, and Baltimore among others. We have data for 80 markets. (Some data included below & more in-depth data is available with an active subscription.)

Ithink Financial Credit Union has an average approval rate when compared to the average across all lenders. They have a below average pick rate when compared to similar lenders. Ithink Financial Credit Union is typically a high 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.

Mortgage seekers: Choose your metro area here to explore the lowest fee & rate lenders.

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SimulatedRates™

Mortgage Type
Simulated Rate Simulation Date
Home Equity Line of Credit (HELOC) 6.54% 10/13/24
30 Year Conventional Purchase 6.33% 10/13/24
30 Year Conventional Refi 6.09% 10/13/24
30 Year Cash-out Refi 5.97% 10/13/24
30 Year USDA Purchase 6.66% 10/13/24
15 Year Conventional Purchase 5.85% 10/13/24
15 Year Conventional Refi 4.56% 10/13/24
15 Year Cash-out Refi 4.56% 10/13/24
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.

Ithink Financial Credit Union Mortgage Calculator






Your Estimates

Estimated Loan Payment: Update the calculator values and click calculate payment!

This is not an official calculator from Ithink Financial Credit Union. It uses our SimulatedRate™ technology, basic math and reasonable assumptions to calculate mortgage payments derived from our simulations and your inputs.

The default purchase price is the median sales price across the US for 2022Q4, per FRED.


Originations

870

Origination Dollar Volume (All Markets)

$209,080,000

Relative Rate

Ithink Financial Credit Union's average 30 year fixed mortgage rate was 7.4%.

The 2023 average 30 year fixed rate mortgage across all markets and lenders was 6.48%.

This yields a difference of 0.92%.

Relative Fees (Closing Costs)

Ithink Financial Credit Union's average total fees/closing costs for a 30 year fixed rate mortgage were $10,393.

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
Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) 346 $90,000,000 $260,116 $11,191 8.20%
ATLANTA-SANDY SPRINGS-ALPHARETTA, GA (FHA|USDA|VA) 205 $27,445,000 $133,878 $4,632 8.42%
PORT ST. LUCIE, FL (FHA|USDA|VA) 75 $15,535,000 $207,133 $12,209 8.22%
ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) 28 $12,280,000 $438,571 $14,948 7.79%
BALTIMORE-COLUMBIA-TOWSON, MD (FHA|USDA|VA) 6 $5,740,000 $956,667 $17,003 7.17%
TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) 31 $5,685,000 $183,387 $8,754 7.85%
Washington-Arlington-Alexandria, DC-VA-MD-WV (FHA|USDA|VA) 7 $4,395,000 $627,857 $7,418 7.50%
Sebastian-Vero Beach, FL (FHA|USDA|VA) 30 $4,200,000 $140,000 $9,519 8.32%
PALM BAY-MELBOURNE-TITUSVILLE, FL (FHA|USDA|VA) 7 $3,225,000 $460,714 $14,972 7.75%
Outside of Metro Areas 13 $3,195,000 $245,769 $5,865 7.75%
DELTONA-DAYTONA BEACH-ORMOND BEACH, FL (FHA|USDA|VA) 9 $3,125,000 $347,222 $9,877 7.64%
San Francisco-Oakland-Berkeley, CA (FHA|USDA|VA) 4 $2,880,000 $720,000 $29,196 8.56%
AUSTIN-ROUND ROCK-GEORGETOWN, TX (FHA|USDA|VA) 1 $2,805,000 $2,805,000 $58,960 7.75%
North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) 7 $2,315,000 $330,714 $11,400 7.66%
NAPLES-MARCO ISLAND, FL (FHA|USDA|VA) 3 $2,165,000 $721,667 $11,099 7.13%
JACKSONVILLE, FL (FHA|USDA|VA) 5 $1,485,000 $297,000 $6,195 8.15%
Key West, FL (FHA|USDA|VA) 1 $1,385,000 $1,385,000 $15,219 7.00%
SALISBURY, MD-DE (FHA|USDA|VA) 7 $1,385,000 $197,857 $7,321 7.63%
PROVIDENCE-WARWICK, RI-MA (FHA|USDA|VA) 4 $1,310,000 $327,500 $6,149 7.59%
LAS VEGAS-HENDERSON-PARADISE, NV (FHA|USDA|VA) 2 $1,150,000 $575,000 $9,151 7.44%
NASHVILLE-DAVIDSON-MURFREESBORO-FRANKLIN, TN (FHA|USDA|VA) 2 $1,110,000 $555,000 $16,968 8.00%
SAN DIEGO-CHULA VISTA-CARLSBAD, CA (FHA|USDA|VA) 2 $1,070,000 $535,000 $24,468 6.88%
MYRTLE BEACH-CONWAY-NORTH MYRTLE BEACH, SC-NC (FHA|USDA|VA) 2 $810,000 $405,000 $9,871 7.50%
LAKELAND-WINTER HAVEN, FL (FHA|USDA|VA) 2 $740,000 $370,000 $11,816 8.50%
Outside of Metro Areas 1 $735,000 $735,000 $5,234 7.25%
New York-Newark-Jersey City, NY-NJ-PA (FHA|USDA|VA) 2 $720,000 $360,000 $0 9.13%
ALBUQUERQUE, NM (FHA|USDA|VA) 1 $655,000 $655,000 $15,314 7.00%
Boston-Cambridge-Newton, MA-NH (FHA|USDA|VA) 2 $650,000 $325,000 $0 8.69%
PHOENIX-MESA-CHANDLER, AZ (FHA|USDA|VA) 2 $640,000 $320,000 $8,403 7.25%
Chicago-Naperville-Elgin, IL-IN-WI (FHA|USDA|VA) 2 $550,000 $275,000 $3,329 7.75%
Morehead City, NC (FHA|USDA|VA) 1 $485,000 $485,000 $9,829 7.38%
DENVER-AURORA-LAKEWOOD, CO (FHA|USDA|VA) 1 $475,000 $475,000 $8,502 7.75%
WINCHESTER, VA-WV (FHA|USDA|VA) 1 $435,000 $435,000 $0 8.63%
OCALA, FL (FHA|USDA|VA) 2 $430,000 $215,000 $7,476 7.13%
Sandpoint, ID (FHA|USDA|VA) 1 $395,000 $395,000 $10,652 7.25%
Los Angeles-Long Beach-Anaheim, CA (FHA|USDA|VA) 1 $375,000 $375,000 $12,631 6.75%
Summerville, GA (FHA|USDA|VA) 1 $355,000 $355,000 $5,953 7.63%
Georgetown, SC (FHA|USDA|VA) 1 $345,000 $345,000 $2,840 8.75%
Okeechobee, FL (FHA|USDA|VA) 1 $335,000 $335,000 $3,095 7.00%
PANAMA CITY, FL (FHA|USDA|VA) 2 $330,000 $165,000 $5,071 7.88%
CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) 1 $315,000 $315,000 $0 8.63%
GAINESVILLE, FL (FHA|USDA|VA) 2 $310,000 $155,000 $5,533 7.31%
HUNTINGTON-ASHLAND, WV-KY-OH (FHA|USDA|VA) 2 $280,000 $140,000 $3,562 8.50%
Dallas-Fort Worth-Arlington, TX (FHA|USDA|VA) 1 $275,000 $275,000 $15,393 7.75%
PENSACOLA-FERRY PASS-BRENT, FL (FHA|USDA|VA) 2 $260,000 $130,000 $6,146 7.00%
CHARLOTTE-CONCORD-GASTONIA, NC-SC (FHA|USDA|VA) 2 $260,000 $130,000 $0 9.06%
BIRMINGHAM-HOOVER, AL (FHA|USDA|VA) 1 $255,000 $255,000 $5,989 7.25%
ROME, GA (FHA|USDA|VA) 1 $235,000 $235,000 $3,494 7.00%
LOUISVILLE, KY (FHA|USDA|VA) 1 $235,000 $235,000 $8,139 7.75%
CLEVELAND-ELYRIA, OH (FHA|USDA|VA) 1 $225,000 $225,000 $3,762 7.13%
Pinehurst-Southern Pines, NC (FHA|USDA|VA) 1 $215,000 $215,000 $3,139 7.88%
Philadelphia-Camden-Wilmington, PA-NJ-DE-MD (FHA|USDA|VA) 2 $210,000 $105,000 $0 8.38%
CORPUS CHRISTI, TX (FHA|USDA|VA) 1 $205,000 $205,000 $4,764 7.63%
WORCESTER, MA-CT (FHA|USDA|VA) 2 $180,000 $90,000 $0 8.13%
MILWAUKEE-WAUKESHA, WI (FHA|USDA|VA) 1 $175,000 $175,000 $2,508 7.75%
RALEIGH-CARY, NC (FHA|USDA|VA) 2 $160,000 $80,000 $0 9.06%
COLUMBUS, GA-AL (FHA|USDA|VA) 2 $140,000 $70,000 $0 8.69%
MACON-BIBB COUNTY, GA (FHA|USDA|VA) 1 $115,000 $115,000 $3,414 6.88%
Cedartown, GA (FHA|USDA|VA) 1 $115,000 $115,000 $0 10.13%
Jefferson, GA (FHA|USDA|VA) 1 $105,000 $105,000 $0 8.38%
PUNTA GORDA, FL (FHA|USDA|VA) 1 $105,000 $105,000 $0 6.25%
Red Bluff, CA (FHA|USDA|VA) 1 $105,000 $105,000 $0 7.25%
LAKE HAVASU CITY-KINGMAN, AZ (FHA|USDA|VA) 1 $105,000 $105,000 $0 8.75%
SPRINGFIELD, MA (FHA|USDA|VA) 1 $105,000 $105,000 $0 8.25%
Thomaston, GA (FHA|USDA|VA) 1 $105,000 $105,000 $3,412 9.25%
Torrington, CT (FHA|USDA|VA) 1 $105,000 $105,000 $0 8.50%
BRUNSWICK, GA (FHA|USDA|VA) 1 $95,000 $95,000 $0 8.50%
MOBILE, AL (FHA|USDA|VA) 1 $85,000 $85,000 $2,710 7.88%
GAINESVILLE, GA (FHA|USDA|VA) 2 $80,000 $40,000 $0 8.75%
HILTON HEAD ISLAND-BLUFFTON, SC (FHA|USDA|VA) 1 $75,000 $75,000 $0 8.75%
RIVERSIDE-SAN BERNARDINO-ONTARIO, CA (FHA|USDA|VA) 1 $65,000 $65,000 $0 7.75%
BOULDER, CO (FHA|USDA|VA) 1 $65,000 $65,000 $0 8.50%
HOMOSASSA SPRINGS, FL (FHA|USDA|VA) 1 $65,000 $65,000 $811 8.88%
OKLAHOMA CITY, OK (FHA|USDA|VA) 1 $55,000 $55,000 $0 7.25%
FLAGSTAFF, AZ (FHA|USDA|VA) 1 $55,000 $55,000 $0 8.63%
Seattle-Tacoma-Bellevue, WA (FHA|USDA|VA) 1 $55,000 $55,000 $0 8.75%
SALT LAKE CITY, UT (FHA|USDA|VA) 1 $55,000 $55,000 $0 8.50%
Greeneville, TN (FHA|USDA|VA) 1 $35,000 $35,000 $984 8.63%
Calhoun, GA (FHA|USDA|VA) 1 $35,000 $35,000 $0 9.13%
Atmore, AL (FHA|USDA|VA) 1 $15,000 $15,000 $0 8.25%
Ithink Financial Credit Union's top markets include Miami, Atlanta, Port St. Lucie, Orlando, and Baltimore among others.

Their top states include:
  • Florida (FHA|USDA|VA)
  • Georgia (FHA|USDA|VA)
  • Maryland (FHA|USDA|VA)
  • Virginia (FHA|USDA|VA)
  • California (FHA|USDA|VA)
  • Similar Lenders

    We use machine learning to identify the top lenders compared against ITHINK FINANCIAL Credit Union based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.

    FIRST FINANCIAL OF MARYLAND
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    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    HELOC 494 $60,000,000 $121,457 n/a 8.49%
    Conventional 372 $148,820,000 $400,054 $10,321 7.74%
    USDA 2 $140,000 $70,000 $0 8.00%
    FHA 1 $85,000 $85,000 $0 8.50%
    USDA 1 $35,000 $35,000 $35 8.88%

    For 2023, Ithink Financial Credit Union's most frequently originated type of loan was HELOC, with 494 originations. Their 2nd most popular type was Conventional, with 372 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Cash Out Refi 545 $73,895,000 $135,587 $6,870 8.44%
    Home Purchase 240 $116,480,000 $485,333 $10,786 7.34%
    Refi 76 $17,430,000 $229,342 $16,249 8.76%
    Home Improvement 5 $785,000 $157,000 $10,398 8.88%
    Other 4 $490,000 $122,500 $0 9.03%

    For 2023, Ithink Financial Credit Union's most frequently cited loan purpose was Cash Out Refi, with 545 originations. The 2nd most popular reason was Home Purchase, with 240 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    20 Year 552 $65,050,000 $117,844 $1,778 8.54%
    30 Year 251 $120,755,000 $481,096 $10,393 7.40%
    Other 29 $17,915,000 $617,759 $19,064 7.57%
    15 Year 27 $3,115,000 $115,370 $2,566 8.38%
    10 Year 9 $515,000 $57,222 $609 8.51%
    30+ year 1 $1,705,000 $1,705,000 $12,490 7.00%
    5 Year 1 $25,000 $25,000 $0 8.00%

    For 2023, Ithink Financial Credit Union's most frequently cited loan duration was 20 Year, with 552 originations. The 2nd most popular length was 30 Year, with 251 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $5k+ 137 $93,905,000 $685,438
    $<1k 57 $5,975,000 $104,825
    $1k-2k 55 $22,605,000 $411,000
    $4k-5k 25 $7,195,000 $287,800
    $3k-4k 22 $4,410,000 $200,455
    $2k-3k 19 $4,155,000 $218,684

    Ithink Financial Credit Union's average total fees were $10,393, while their most frequently occuring range of origination fees (closing costs) were in the $5k+ bucket, with 137 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    Over 8% 465 $56,425,000 $121,344
    7-8% 312 $105,270,000 $337,404
    6-7% 85 $44,555,000 $524,176
    3-4% 5 $835,000 $167,000
    5-6% 2 $490,000 $245,000
    <2.5% 1 $1,505,000 $1,505,000

    During 2023, Ithink Financial Credit Union's average interest rate for loans was 7.40%, while their most frequently originated rate bucket for loans was Over 8%, with 465 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 295 $17,695,000 $59,983 $2,963 8.65%
    $100k-200k 293 $35,445,000 $120,973 $5,242 8.29%
    $200k-400k 146 $40,310,000 $276,096 $7,613 7.69%
    $400k-600k 57 $26,475,000 $464,474 $9,807 7.69%
    $1MM+ 41 $60,315,000 $1,471,098 $23,358 7.07%
    $600k-1MM 38 $28,840,000 $758,947 $16,705 7.30%

    2023 saw Ithink Financial Credit Union place emphasis on $100,000 or less loans with 295 originations, totaling $17,695,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 211 $35,435,000 $167,938 $7,727 8.16%
    $150k-250k 206 $37,920,000 $184,078 $8,219 8.32%
    $250k+ 151 $96,115,000 $636,523 $16,740 7.75%
    $50k-75k 123 $14,575,000 $118,496 $6,898 8.26%
    $75k-100k 121 $15,835,000 $130,868 $7,845 8.39%
    $50k or less 53 $8,305,000 $156,698 $8,535 8.17%

    Ithink Financial Credit Union lent most frequently to those with incomes in the $100k-150k range, with 211 originations. The second most popular income band? $150k-250k, with 206 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    30-36% 163 $36,685,000 $225,061 $9,660 8.02%
    20-30% 143 $30,015,000 $209,895 $9,511 8.16%
    44% 118 $20,430,000 $173,136 $8,641 8.37%
    43% 65 $15,255,000 $234,692 $11,078 8.12%
    42% 53 $13,985,000 $263,868 $10,738 8.16%
    41% 50 $16,370,000 $327,400 $10,106 8.08%
    <20% 49 $18,585,000 $379,286 $16,966 7.76%
    40% 49 $11,355,000 $231,735 $10,856 8.31%
    38% 41 $11,085,000 $270,366 $14,121 8.41%
    39% 35 $10,475,000 $299,286 $10,883 8.34%
    36% 31 $8,065,000 $260,161 $6,537 8.38%
    37% 29 $6,345,000 $218,793 $9,756 8.29%
    45% 12 $1,780,000 $148,333 $7,096 8.53%
    50-60% 6 $820,000 $136,667 $7,344 8.17%
    48% 4 $1,230,000 $307,500 $7,186 8.25%
    49% 4 $2,870,000 $717,500 $6,901 6.88%
    46% 3 $1,215,000 $405,000 $8,058 8.00%
    47% 2 $560,000 $280,000 $4,742 7.13%
    >60% 2 $350,000 $175,000 $3,762 7.81%

    Ithink Financial Credit Union lent most frequently to those with DTI ratios of 30-36%, with 163 originations. The next most common DTI ratio? 20-30%, with 143 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 592 $143,290,000 $242,044 $10,303 8.12%
    Not provided 130 $43,100,000 $331,538 $12,635 8.05%
    Black 121 $14,075,000 $116,322 $4,361 8.61%
    Asian 22 $7,640,000 $347,273 $8,601 8.01%
    Native Hawaiian or Islander 1 $435,000 $435,000 $12,006 7.13%
    American Indian 1 $305,000 $305,000 $8,542 7.38%
    Other Asian 1 $105,000 $105,000 $0 8.25%
    Vietnamese 1 $85,000 $85,000 $0 9.00%
    Asian Indian 1 $45,000 $45,000 $0 8.50%

    Approval Rates

    Total approvals of all applications
    80.15%

    Ithink Financial Credit Union has a below average approval rate.

    Pick Rate

    Approvals leading to origination
    83.45%

    Ithink Financial Credit Union has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 870 $209,080,000 $240,322

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    870 $209,080,000 $240,322

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 244 $42,140,000 $172,705 $6,447 8.18%
    40-60% 88 $32,840,000 $373,182 $12,818 7.94%
    60-80% 168 $93,200,000 $554,762 $11,794 7.40%
    80-100% 25 $8,995,000 $359,800 $7,937 7.30%
    Under 20% 328 $25,970,000 $79,177 $1,250 8.72%