Kansas State University Federal Credit Union Mortgage Rates, Fees & Info
Manhattan, KSLEI: 5493007700FZNYYEHT38
Tax ID: 48-0619523
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Mortgage Data
Review & Overview
Kansas State University Federal Credit Union is a smaller credit union specializing in Refi and Home Purchase loans. Kansas State University Federal Credit Union has a high proportion of conventional loans. They have an average proportion of FHA loans. They have a low ratio of USDA loans. Their top markets by origination volume include: Manhattan, Topeka, and Salina among others. We have data for 4 markets. (Some data included below & more in-depth data is available with an active subscription.)Kansas State University Federal 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. Kansas State University Federal Credit Union is typically an average 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 |
|---|---|---|
| 30 Year Conventional Purchase | 6.77% | 11/17/24 |
| 30 Year Cash-out Refi | 6.87% | 11/17/24 |
| 15 Year Conventional Purchase | 5.47% | 11/17/24 |
| 15 Year Conventional Refi | 5.97% | 11/17/24 |
| 15 Year Cash-out Refi | 5.97% | 11/17/24 |
| 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. | ||
Kansas State University Federal 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
51Origination Dollar Volume (All Markets)
$5,295,000Relative Rate
Kansas State University Federal Credit Union's average 30 year fixed mortgage rate was
7.02%.
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)
Kansas State University Federal Credit Union's average total fees/closing costs for a 30 year fixed rate
mortgage were $5,558.
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 |
|---|---|---|---|---|---|
| MANHATTAN, KS (FHA|USDA|VA) | 43 | $4,375,000 | $101,744 | $2,085 | 7.88% |
| Outside of Metro Areas | 5 | $625,000 | $125,000 | $2,532 | 7.93% |
| TOPEKA, KS (FHA|USDA|VA) | 2 | $260,000 | $130,000 | $1,525 | 7.12% |
| Salina, KS (FHA|USDA|VA) | 1 | $35,000 | $35,000 | $396 | 7.75% |
Similar Lenders
We use machine learning to identify the top lenders compared against KANSAS STATE UNIVERSITY Federal Credit Union based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.
Similarity Rank: 90
Similarity Rank: 104
Similarity Rank: 110
Similarity Rank: 330
Similarity Rank: 455
Similarity Rank: 624
Similarity Rank: 2241
Similarity Rank: 4415
Similarity Rank: 4445
Similarity Rank: 6511
Product Mix
For 2023, Kansas State University Federal Credit Union's most frequently originated type of loan was Conventional, with 47 originations. Their 2nd most popular type was FHA, with 2 originations.
Loan Reason
For 2023, Kansas State University Federal Credit Union's most frequently cited loan purpose was Cash Out Refi, with 17 originations. The 2nd most popular reason was Refi, with 16 originations.
Loan Duration/Length
For 2023, Kansas State University Federal Credit Union's most frequently cited loan duration was 15 Year, with 25 originations. The 2nd most popular length was 30 Year, with 12 originations.
Origination Fees/Closing Costs
| Origination Fee/Closing Cost | Originations | Total Value | Average Loan |
|---|---|---|---|
| $<1k | 35 | $2,825,000 | $80,714 |
| $1k-2k | 5 | $885,000 | $177,000 |
| $5k+ | 2 | $500,000 | $250,000 |
| $3k-4k | 1 | $215,000 | $215,000 |
Kansas State University Federal Credit Union's average total fees were $5,558, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 35 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 7-8% | 20 | $2,300,000 | $115,000 |
| Over 8% | 17 | $825,000 | $48,529 |
| 6-7% | 13 | $1,865,000 | $143,462 |
| 5-6% | 1 | $305,000 | $305,000 |
During 2023, Kansas State University Federal Credit Union's average interest rate for loans was 7.02%, while their most frequently originated rate bucket for loans was 7-8%, with 20 originations.
Loan Sizing
2023 saw Kansas State University Federal Credit Union place emphasis on $100,000 or less loans with 34 originations, totaling $1,630,000 in origination value.
Applicant Income
Kansas State University Federal Credit Union lent most frequently to those with incomes in the $100k-150k range, with 19 originations. The second most popular income band? $75k-100k, with 10 originations.
Applicant Debt to Income Ratio
Kansas State University Federal Credit Union lent most frequently to those with DTI ratios of 30-36%, with 16 originations. The next most common DTI ratio? 20-30%, with 13 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications87.95%
Kansas State University Federal Credit Union has an average approval rate.
Pick Rate
Approvals leading to origination72.55%
Kansas State University Federal Credit Union has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 51 | $5,295,000 | $103,824 |