Us #1364 Federal Credit Union Mortgage Rates, Fees & Info
MERRILLVILLE, INLEI: 549300B86Q2KK5MQXB44
Tax ID: 00-1809750
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Mortgage Data
Review & Overview
Us #1364 Federal Credit Union is a smaller credit union specializing in Cash Out Refi and Home Purchase loans. Us #1364 Federal Credit Union has a high proportion of conventional loans. Their top two markets are Chicago and Michigan City .Us #1364 Federal Credit Union has an above average approval rate when compared to the average across all lenders. They have an above average pick rate when compared to similar lenders.
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Originations
38Origination Dollar Volume (All Markets)
$6,830,000Top 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 |
|---|---|---|---|---|---|
| Chicago-Naperville-Elgin, IL-IN-WI (FHA|USDA|VA) | 33 | $6,215,000 | $188,333 | $0 | 0.00% |
| MICHIGAN CITY-LA PORTE, IN (FHA|USDA|VA) | 2 | $350,000 | $175,000 | $0 | 0.00% |
| Outside of Metro Areas | 3 | $265,000 | $88,333 | $0 | 0.00% |
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 38 | $6,830,000 | $179,737 | $0 | 0.00% |
For 2019, Us #1364 Federal Credit Union's most frequently originated type of loan was Conventional, with 38 originations.
Loan Reason
| Loan Reason | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Cash Out Refi | 18 | $3,150,000 | $175,000 | $0 | 0.00% |
| Home Purchase | 16 | $2,750,000 | $171,875 | $0 | 0.00% |
| Refi | 4 | $930,000 | $232,500 | $0 | 0.00% |
For 2019, Us #1364 Federal Credit Union's most frequently cited loan purpose was Cash Out Refi, with 18 originations. The 2nd most popular reason was Home Purchase, with 16 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Other | 38 | $6,830,000 | $179,737 | $0 | 0.00% |
For 2019, Us #1364 Federal Credit Union's most frequently cited loan duration was Other, with 38 originations.
Loan Sizing
2019 saw Us #1364 Federal Credit Union place emphasis on $100k-200k loans with 16 originations, totaling $2,450,000 in origination value.
Applicant Income
Us #1364 Federal Credit Union lent most frequently to those with incomes in the $75k-100k range, with 10 originations. The second most popular income band? $100k-150k, with 8 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Exempt% | 38 | $6,830,000 | $179,737 | $0 | 0.00% |
Us #1364 Federal Credit Union lent most frequently to those with DTI ratios of Exempt%, with 38 originations.
Ethnicity Mix
| Applicant Ethnicity | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| White | 35 | $6,495,000 | $185,571 | $0 | 0.00% |
| Black | 3 | $335,000 | $111,667 | $0 | 0.00% |
Approval Rates
Total approvals of all applications90.70%
Us #1364 Federal Credit Union has an average approval rate.
Pick Rate
Approvals leading to origination97.37%
Us #1364 Federal Credit Union has an exceptionally high pick rate. They most likely have borrower friendly terms or other characteristics like being fast to close or are easy to work with.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| Exempt | 38 | $6,830,000 | $179,737 |