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

Moline, IL

LEI: 549300AR4BCLQFU47165

Tax ID: 36-2523206

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Mortgage Data

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, Galesburg, Clinton, Des Moines, and Muscatine among others. We have data for 32 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 about average 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.

Mortgage professionals: We have various tools to make your lives easier. Contact us to see how we can help with your market research, analytics or advertising needs.

SimulatedRates™

Mortgage Type
Simulated Rate Simulation Date
30 Year Conventional Purchase 5.76% 3/28/24
30 Year Conventional Refi 5.98% 3/28/24
30 Year FHA Purchase 6.27% 3/28/24
30 Year FHA Refi 6.27% 3/28/24
30 Year VA Purchase 6.27% 3/28/24
30 Year VA Refi 6.27% 3/28/24
30 Year USDA Purchase 6.27% 3/28/24
15 Year Conventional Purchase 5.83% 3/28/24
15 Year Conventional Refi 5.85% 3/28/24
15 Year Cash-out Refi 5.85% 3/28/24
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

1,201

Origination Dollar Volume (All Markets)

$145,215,000
Show all (13) awards

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) 968 $117,470,000 $121,353 $1,290 4.24%
Galesburg, IL (FHA|USDA|VA) 66 $5,050,000 $76,515 $1,253 4.08%
Outside of Metro Areas 41 $4,635,000 $113,049 $1,433 4.05%
Clinton, IA (FHA|USDA|VA) 23 $3,405,000 $148,043 $1,329 4.20%
DES MOINES-WEST DES MOINES, IA (FHA|USDA|VA) 14 $3,330,000 $237,857 $1,663 3.68%
Muscatine, IA (FHA|USDA|VA) 13 $1,945,000 $149,615 $1,474 4.47%
Sterling, IL (FHA|USDA|VA) 25 $1,915,000 $76,600 $1,300 4.30%
IOWA CITY, IA (FHA|USDA|VA) 5 $935,000 $187,000 $1,572 4.23%
Burlington, IA-IL (FHA|USDA|VA) 8 $800,000 $100,000 $1,643 4.61%
PEORIA, IL (FHA|USDA|VA) 5 $685,000 $137,000 $1,420 3.98%
Macomb, IL (FHA|USDA|VA) 6 $650,000 $108,333 $1,815 3.58%
COLORADO SPRINGS, CO (FHA|USDA|VA) 1 $485,000 $485,000 $3,251 3.63%
CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) 1 $485,000 $485,000 $2,542 3.63%
Ottawa, IL (FHA|USDA|VA) 5 $435,000 $87,000 $1,395 4.43%
PHOENIX-MESA-CHANDLER, AZ (FHA|USDA|VA) 1 $425,000 $425,000 $4,201 3.63%
CEDAR RAPIDS, IA (FHA|USDA|VA) 3 $365,000 $121,667 $535 4.17%
ST. GEORGE, UT (FHA|USDA|VA) 1 $275,000 $275,000 $2,540 3.63%
North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) 1 $265,000 $265,000 $3,964 3.63%
FAYETTEVILLE-SPRINGDALE-ROGERS, AR (FHA|USDA|VA) 1 $205,000 $205,000 $1,962 3.63%
DELTONA-DAYTONA BEACH-ORMOND BEACH, FL (FHA|USDA|VA) 1 $195,000 $195,000 $2,118 3.63%
DUBUQUE, IA (FHA|USDA|VA) 1 $175,000 $175,000 $3,217 3.50%
DAPHNE-FAIRHOPE-FOLEY, AL (FHA|USDA|VA) 1 $165,000 $165,000 $1,309 3.63%
Sebastian-Vero Beach, FL (FHA|USDA|VA) 1 $165,000 $165,000 $3,243 3.63%
Philadelphia-Camden-Wilmington, PA-NJ-DE-MD (FHA|USDA|VA) 1 $135,000 $135,000 $2,668 3.63%
Mason City, IA (FHA|USDA|VA) 1 $115,000 $115,000 $1,823 3.75%
JANESVILLE-BELOIT, WI (FHA|USDA|VA) 1 $105,000 $105,000 $2,308 4.38%
GRAND RAPIDS-KENTWOOD, MI (FHA|USDA|VA) 1 $105,000 $105,000 $0 4.50%
Chicago-Naperville-Elgin, IL-IN-WI (FHA|USDA|VA) 1 $65,000 $65,000 $1,735 5.25%
Pella, IA (FHA|USDA|VA) 1 $65,000 $65,000 $1,522 3.75%
Sevierville, TN (FHA|USDA|VA) 1 $65,000 $65,000 $2,306 4.63%
DECATUR, IL (FHA|USDA|VA) 1 $55,000 $55,000 $4,005 3.63%
Lincoln, IL (FHA|USDA|VA) 1 $45,000 $45,000 $594 4.38%
I. H. Mississippi Valley Credit Union's top markets include Davenport, Galesburg, Clinton, Des Moines, and Muscatine among others.

Their top states include:
  • Illinois (FHA|USDA|VA)
  • Iowa (FHA|USDA|VA)
  • Florida (FHA|USDA|VA)
  • Colorado (FHA|USDA|VA)
  • Wisconsin (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.

    FINANCIAL PLUS Credit Union
    Similarity Rank: 63
    Raccoon Valley Bank
    Similarity Rank: 145
    Hills Bank and Trust Company
    Similarity Rank: 156
    First Mid Bank & Trust
    Similarity Rank: 180
    THE FAMILY CREDIT UNION
    Similarity Rank: 217
    RESIDENTIAL MORTGAGE NETWORK, INC.
    Similarity Rank: 240
    Luana Savings Bank
    Similarity Rank: 253
    Community Choice Credit Union
    Similarity Rank: 255
    Peoples Bank
    Similarity Rank: 380
    Fidelity Bank
    Similarity Rank: 388

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 1,197 $144,615,000 $120,815 $1,326 4.21%
    HELOC 4 $600,000 $150,000 n/a 5.69%

    For 2019, I. H. Mississippi Valley Credit Union's most frequently originated type of loan was Conventional, with 1,197 originations. Their 2nd most popular type was HELOC, with 4 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 555 $72,545,000 $130,712 $1,530 4.06%
    Refi 412 $56,110,000 $136,189 $1,474 3.95%
    Home Improvement 107 $4,395,000 $41,075 $447 5.14%
    Other 72 $2,110,000 $29,306 $189 5.42%
    Cash Out Refi 55 $10,055,000 $182,818 $1,601 4.42%

    For 2019, I. H. Mississippi Valley Credit Union's most frequently cited loan purpose was Home Purchase, with 555 originations. The 2nd most popular reason was Refi, with 412 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 701 $101,765,000 $145,171 $1,578 3.94%
    15 Year 155 $19,055,000 $122,935 $1,589 3.41%
    10 Year 123 $5,845,000 $47,520 $375 5.14%
    Other 121 $11,875,000 $98,140 $358 5.62%
    5 Year 58 $1,380,000 $23,793 $194 5.03%
    20 Year 37 $5,095,000 $137,703 $1,618 3.87%
    3 Year 6 $200,000 $33,333 $343 5.04%

    For 2019, I. H. Mississippi Valley Credit Union's most frequently cited loan duration was 30 Year, with 701 originations. The 2nd most popular length was 15 Year, with 155 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 982 $113,980,000 $116,069
    $1k-2k 35 $5,325,000 $152,143
    $2k-3k 8 $1,200,000 $150,000
    $3k-4k 1 $225,000 $225,000

    I. H. Mississippi Valley Credit Union's average total fees were $1,578, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 982 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    3-4% 599 $87,905,000 $146,753
    4-5% 400 $42,020,000 $105,050
    5-6% 92 $6,050,000 $65,761
    2.5-3% 51 $7,285,000 $142,843
    6-7% 44 $1,540,000 $35,000
    7-8% 12 $230,000 $19,167
    Over 8% 3 $185,000 $61,667

    During 2019, I. H. Mississippi Valley Credit Union's average interest rate for loans was 3.94%, while their most frequently originated rate bucket for loans was 3-4%, with 599 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 613 $33,615,000 $54,837 $1,058 4.57%
    $100k-200k 406 $56,240,000 $138,522 $1,565 3.90%
    $200k-400k 160 $42,020,000 $262,625 $1,624 3.74%
    $400k-600k 20 $9,440,000 $472,000 $1,661 3.87%
    $1MM+ 1 $3,085,000 $3,085,000 $0 4.75%
    $600k-1MM 1 $815,000 $815,000 $0 4.75%

    2019 saw I. H. Mississippi Valley Credit Union place emphasis on $100,000 or less loans with 613 originations, totaling $33,615,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 319 $31,345,000 $98,260 $1,314 4.20%
    $50k or less 298 $21,820,000 $73,221 $1,312 4.12%
    $75k-100k 213 $27,375,000 $128,521 $1,295 4.15%
    $100k-150k 194 $30,730,000 $158,402 $1,356 4.13%
    $150k-250k 100 $20,610,000 $206,100 $1,366 4.13%
    $250k+ 11 $3,645,000 $331,364 $1,802 3.53%

    I. H. Mississippi Valley Credit Union lent most frequently to those with incomes in the $50k-75k range, with 319 originations. The second most popular income band? $50k or less, with 298 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 314 $36,320,000 $115,669 $1,261 4.06%
    30-36% 268 $29,790,000 $111,157 $1,250 4.25%
    <20% 136 $15,940,000 $117,206 $1,327 3.98%
    37% 50 $6,510,000 $130,200 $1,598 4.08%
    41% 46 $5,520,000 $120,000 $1,307 4.46%
    36% 36 $4,190,000 $116,389 $1,421 4.07%
    40% 36 $4,620,000 $128,333 $1,367 4.19%
    38% 35 $4,595,000 $131,286 $1,245 4.32%
    42% 32 $4,020,000 $125,625 $1,187 4.23%
    39% 28 $3,540,000 $126,429 $1,480 4.12%
    44% 26 $3,540,000 $136,154 $1,470 4.00%
    43% 25 $2,085,000 $83,400 $1,281 4.34%
    47% 18 $3,390,000 $188,333 $1,773 3.83%
    46% 17 $2,165,000 $127,353 $1,400 4.00%
    49% 17 $2,785,000 $163,824 $1,436 3.93%
    45% 16 $2,320,000 $145,000 $1,422 4.11%
    48% 11 $1,585,000 $144,091 $1,571 4.01%
    50-60% 9 $1,385,000 $153,889 $2,123 3.85%
    >60% 4 $640,000 $160,000 $1,629 3.75%

    I. H. Mississippi Valley Credit Union lent most frequently to those with DTI ratios of 20-30%, with 314 originations. The next most common DTI ratio? 30-36%, with 268 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 1,046 $128,400,000 $122,753 $1,379 4.08%
    Not applicable 62 $9,250,000 $149,194 $0 5.49%
    Black 23 $2,825,000 $122,826 $911 4.61%
    Not provided 55 $2,445,000 $44,455 $450 5.30%
    Asian 12 $2,110,000 $175,833 $1,499 3.96%
    American Indian 3 $185,000 $61,667 $1,141 4.50%

    Approval Rates

    Total approvals of all applications
    92.24%

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

    Pick Rate

    Approvals leading to origination
    65.45%

    I. H. Mississippi Valley Credit Union has a low pick rate. They may have issues with closing loans or may approve everyone, but with onerous loan terms.

    Points and Fees

    Points Originations Total Value Average Loan
    0.0 1 $75,000 $75,000
    625.0 1 $55,000 $55,000
    NA 1,199 $145,085,000 $121,005

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Site-Built 10 $4,900,000 $490,000
    Single Family (1-4 Units):Manufactured 3 $245,000 $81,667
    Single Family (1-4 Units):Site-Built 1,188 $140,070,000 $117,904

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 114 $5,100,000 $44,737 $574 4.99%
    40-60% 114 $11,800,000 $103,509 $1,382 4.03%
    60-80% 382 $53,430,000 $139,869 $1,509 4.01%
    80-100% 500 $72,290,000 $144,580 $1,529 4.00%
    Under 20% 89 $2,485,000 $27,921 $233 5.53%

    Complaints

    Bank Name Product Issue 2019 CPFB Complaints % of Total Issues
    Insight Financial Services LLC Conventional home mortgage Closing on a mortgage 1 100.0%