I. H. Mississippi Valley Credit Union Mortgage Rates, Fees & Info

Moline, IL

LEI: 549300AR4BCLQFU47165

Tax ID: 36-2523206

5 stars - Updated: 11/11/24 - out of 5 stars, based on 26 reviews

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

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  • SimulatedRates™
  • Mortgage Calculator

    • Mortgage Data

  • Originations
  • Relative Rates
  • Relative Fees
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • Similar Lenders
  • Loan Length
  • Loan to Value Info
  • Debt-to-Income
  • Applicant Income
  • Ethnicity Info
  • Approval & Pick Rates
  • Points and Fees
  • Origination Fees (Closing Costs)

    • Review & Overview

    I. H. Mississippi Valley Credit Union is a smaller credit union specializing in Home Purchase and Refi loans. I. H. Mississippi Valley Credit Union has a high proportion of conventional loans. Their top markets by origination volume include: Davenport, Des Moines, Chicago, Galesburg, and Clinton among others. We have data for 24 markets. (Some data included below & more in-depth data is available with an active subscription.)

    I. H. Mississippi Valley Credit Union has an above average approval rate when compared to the average across all lenders. They have a below average pick rate when compared to similar lenders. I. H. Mississippi Valley 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.

    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
    30 Year Conventional Purchase 5.76% 11/11/24
    30 Year Conventional Refi 5.98% 11/11/24
    30 Year FHA Purchase 6.27% 11/11/24
    30 Year FHA Refi 6.27% 11/11/24
    30 Year VA Purchase 6.27% 11/11/24
    30 Year VA Refi 6.27% 11/11/24
    30 Year USDA Purchase 6.27% 11/11/24
    15 Year Conventional Purchase 5.83% 11/11/24
    15 Year Conventional Refi 5.85% 11/11/24
    15 Year Cash-out Refi 5.85% 11/11/24
    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.

    I. H. Mississippi Valley Credit Union Mortgage Calculator






    Your Estimates

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

    This is not an official calculator from I. H. Mississippi Valley 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

    673

    Origination Dollar Volume (All Markets)

    $85,575,000
    Show all (5) awards

    Relative Rate

    I. H. Mississippi Valley Credit Union's average 30 year fixed mortgage rate was 6.69%.

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

    This yields a difference of 0.21%.

    Relative Fees (Closing Costs)

    I. H. Mississippi Valley Credit Union's average total fees/closing costs for a 30 year fixed rate mortgage were $2,100.

    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) 529 $62,655,000 $118,440 $1,410 7.26%
    DES MOINES-WEST DES MOINES, IA (FHA|USDA|VA) 20 $5,940,000 $297,000 $2,485 6.17%
    Chicago-Naperville-Elgin, IL-IN-WI (FHA|USDA|VA) 5 $3,825,000 $765,000 $4,034 6.05%
    Galesburg, IL (FHA|USDA|VA) 42 $3,310,000 $78,810 $1,239 7.58%
    Outside of Metro Areas 24 $3,290,000 $137,083 $1,691 7.07%
    Clinton, IA (FHA|USDA|VA) 15 $1,685,000 $112,333 $1,216 7.44%
    PEORIA, IL (FHA|USDA|VA) 8 $1,580,000 $197,500 $1,440 7.19%
    Sterling, IL (FHA|USDA|VA) 7 $485,000 $69,286 $1,423 7.24%
    Macomb, IL (FHA|USDA|VA) 2 $480,000 $240,000 $2,471 6.50%
    Tullahoma-Manchester, TN (FHA|USDA|VA) 1 $335,000 $335,000 $3,032 6.99%
    IOWA CITY, IA (FHA|USDA|VA) 1 $325,000 $325,000 $2,819 6.00%
    CEDAR RAPIDS, IA (FHA|USDA|VA) 2 $280,000 $140,000 $1,598 7.18%
    SIOUX CITY, IA-NE-SD (FHA|USDA|VA) 1 $245,000 $245,000 $3,213 7.25%
    Burlington, IA-IL (FHA|USDA|VA) 4 $200,000 $50,000 $475 7.86%
    WATERLOO-CEDAR FALLS, IA (FHA|USDA|VA) 1 $145,000 $145,000 $1,744 6.75%
    Ottawa, IL (FHA|USDA|VA) 2 $130,000 $65,000 $2,466 7.31%
    BLOOMINGTON, IL (FHA|USDA|VA) 1 $115,000 $115,000 $1,932 5.50%
    Fort Madison-Keokuk, IA-IL-MO (FHA|USDA|VA) 1 $115,000 $115,000 $2,585 7.63%
    Muscatine, IA (FHA|USDA|VA) 1 $115,000 $115,000 $2,355 6.13%
    SAN ANGELO, TX (FHA|USDA|VA) 1 $105,000 $105,000 $3,461 6.38%
    MUSKEGON, MI (FHA|USDA|VA) 1 $75,000 $75,000 $3,330 7.50%
    Dixon, IL (FHA|USDA|VA) 2 $60,000 $30,000 $428 9.09%
    SPRINGFIELD, IL (FHA|USDA|VA) 1 $55,000 $55,000 $2,152 7.50%
    Marshalltown, IA (FHA|USDA|VA) 1 $25,000 $25,000 $105 7.49%
    I. H. Mississippi Valley Credit Union's top markets include Davenport, Des Moines, Chicago, Galesburg, and Clinton among others.

    Their top states include:
  • Illinois (FHA|USDA|VA)
  • Iowa (FHA|USDA|VA)
  • Tennessee (FHA|USDA|VA)
  • Texas (FHA|USDA|VA)
  • Michigan (FHA|USDA|VA)

    • Similar Lenders

    We use machine learning to identify the top lenders compared against I. H. MISSISSIPPI VALLEY CREDIT UNION based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.

    Bank
    Similarity Rank: 26
    FINANCIAL PLUS Credit Union
    Similarity Rank: 60
    R.I.A. Federal Credit Union
    Similarity Rank: 99
    Hills Bank and Trust Company
    Similarity Rank: 100
    First Mid Bank & Trust
    Similarity Rank: 126
    GAS AND ELECTRIC CREDIT UNION
    Similarity Rank: 155
    GREATER IOWA CREDIT UNION
    Similarity Rank: 168
    Raccoon Valley Bank
    Similarity Rank: 175
    ASCENTRA
    Similarity Rank: 180
    DuTrac Community Credit Union
    Similarity Rank: 220

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 673 $85,575,000 $127,155 $1,469 7.24%

    For 2023, I. H. Mississippi Valley Credit Union's most frequently originated type of loan was Conventional, with 673 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 362 $57,770,000 $159,586 $2,082 6.77%
    Other 105 $3,565,000 $33,952 $159 8.39%
    Refi 100 $17,430,000 $174,300 $1,959 6.92%
    Home Improvement 87 $2,585,000 $29,713 $150 8.07%
    Cash Out Refi 19 $4,225,000 $222,368 $0 7.61%

    For 2023, I. H. Mississippi Valley Credit Union's most frequently cited loan purpose was Home Purchase, with 362 originations. The 2nd most popular reason was Other, with 105 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 403 $69,955,000 $173,586 $2,100 6.69%
    10 Year 87 $3,475,000 $39,943 $169 8.35%
    5 Year 84 $3,670,000 $43,690 $148 7.84%
    Other 68 $5,660,000 $83,235 $160 8.30%
    3 Year 21 $1,085,000 $51,667 $882 7.54%
    15 Year 7 $985,000 $140,714 $2,129 6.39%
    1 Year 2 $570,000 $285,000 $2,215 7.25%
    20 Year 1 $175,000 $175,000 $1,887 5.63%

    For 2023, I. H. Mississippi Valley Credit Union's most frequently cited loan duration was 30 Year, with 403 originations. The 2nd most popular length was 10 Year, with 87 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 583 $70,155,000 $120,334
    $1k-2k 2 $450,000 $225,000

    I. H. Mississippi Valley Credit Union's average total fees were $2,100, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 583 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    6-7% 256 $44,670,000 $174,492
    7-8% 211 $21,445,000 $101,635
    Over 8% 143 $5,265,000 $36,818
    5-6% 51 $7,885,000 $154,608
    4-5% 9 $5,465,000 $607,222
    2.5-3% 1 $255,000 $255,000
    3-4% 1 $565,000 $565,000

    During 2023, I. H. Mississippi Valley Credit Union's average interest rate for loans was 6.69%, while their most frequently originated rate bucket for loans was 6-7%, with 256 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 351 $16,445,000 $46,852 $844 7.80%
    $100k-200k 197 $27,495,000 $139,569 $1,987 6.71%
    $200k-400k 103 $28,055,000 $272,379 $2,211 6.58%
    $400k-600k 14 $6,700,000 $478,571 $2,110 6.16%
    $600k-1MM 6 $4,110,000 $685,000 $3,790 6.23%
    $1MM+ 2 $2,770,000 $1,385,000 $0 4.75%

    2023 saw I. H. Mississippi Valley Credit Union place emphasis on $100,000 or less loans with 351 originations, totaling $16,445,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 159 $13,955,000 $87,767 $1,378 7.29%
    $100k-150k 140 $21,800,000 $155,714 $1,597 7.13%
    $50k or less 134 $10,100,000 $75,373 $1,457 7.33%
    $75k-100k 122 $12,900,000 $105,738 $1,327 7.35%
    $150k-250k 80 $18,560,000 $232,000 $1,594 6.90%
    $250k+ 12 $3,070,000 $255,833 $1,816 7.35%

    I. H. Mississippi Valley Credit Union lent most frequently to those with incomes in the $50k-75k range, with 159 originations. The second most popular income band? $100k-150k, with 140 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 182 $20,880,000 $114,725 $1,428 7.18%
    30-36% 139 $16,755,000 $120,540 $1,370 7.32%
    <20% 54 $5,450,000 $100,926 $1,283 7.04%
    39% 29 $3,665,000 $126,379 $1,564 7.05%
    38% 28 $4,580,000 $163,571 $1,609 6.91%
    40% 27 $3,685,000 $136,481 $1,476 7.47%
    36% 26 $3,460,000 $133,077 $1,264 7.22%
    42% 25 $2,165,000 $86,600 $1,318 7.61%
    43% 23 $4,265,000 $185,435 $1,733 7.12%
    41% 19 $2,295,000 $120,789 $1,358 7.40%
    44% 19 $3,585,000 $188,684 $2,287 6.97%
    37% 17 $2,475,000 $145,588 $1,383 7.59%
    46% 10 $1,240,000 $124,000 $1,790 7.09%
    45% 9 $1,445,000 $160,556 $2,068 6.75%
    49% 8 $1,950,000 $243,750 $2,023 6.37%
    48% 5 $685,000 $137,000 $1,981 6.80%

    I. H. Mississippi Valley Credit Union lent most frequently to those with DTI ratios of 20-30%, with 182 originations. The next most common DTI ratio? 30-36%, with 139 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 531 $71,565,000 $134,774 $1,622 7.11%
    Not applicable 24 $4,940,000 $205,833 $0 7.41%
    Not provided 85 $4,765,000 $56,059 $537 7.92%
    Asian 12 $2,430,000 $202,500 $1,867 6.59%
    Black 18 $1,580,000 $87,778 $1,233 7.92%
    Asian Indian 1 $195,000 $195,000 $1,978 5.88%
    Other Pacific Islander 1 $65,000 $65,000 $1,780 6.25%
    Native Hawaiian or Islander 1 $35,000 $35,000 $105 8.44%

    Approval Rates

    Total approvals of all applications
    90.57%

    I. H. Mississippi Valley Credit Union has an average approval rate.

    Pick Rate

    Approvals leading to origination
    71.17%

    I. H. Mississippi Valley Credit Union has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 673 $85,575,000 $127,155

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    673 $85,575,000 $127,155

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 87 $4,375,000 $50,287 $490 7.91%
    40-60% 62 $6,690,000 $107,903 $1,480 7.43%
    60-80% 181 $27,195,000 $150,249 $1,837 7.02%
    80-100% 248 $44,760,000 $180,484 $2,099 6.73%
    Under 20% 95 $2,555,000 $26,895 $152 8.23%