Mutual First Mortgage Rates, Fees & Info

Omaha, NE

LEI: 549300BJ4VS64HEPMV23

Tax ID: 47-6024482

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

Jump to:

  • SimulatedRates™
  • Mortgage Calculator

    • Mortgage Data

  • Originations
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • Complaints
  • 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

    Mutual First is a smaller mortgage company specializing in Cash Out Refi and Home Purchase loans. Mutual First has a high proportion of conventional loans. Their top markets by origination volume include: Omaha, Lincoln, Fremont, and Sioux City among others. We have data for 4 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Mutual First 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. Mutual First 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 6.84% 11/17/24
    30 Year Conventional Refi 6.65% 11/17/24
    30 Year Cash-out Refi 6.70% 11/17/24
    15 Year Conventional Purchase 8.69% 11/17/24
    15 Year Conventional Refi 6.28% 11/17/24
    15 Year Cash-out Refi 6.28% 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.

    Mutual First Mortgage Calculator






    Your Estimates

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

    This is not an official calculator from Mutual First. 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

    103

    Origination Dollar Volume (All Markets)

    $13,735,000

    Awards

    MUTUAL FIRST 30 Year Conventional Loans silver
    Show all (1) 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
    OMAHA-COUNCIL BLUFFS, NE-IA (FHA|USDA|VA) 96 $12,550,000 $130,729 $1,619 3.68%
    LINCOLN, NE (FHA|USDA|VA) 4 $750,000 $187,500 $2,693 3.28%
    Fremont, NE (FHA|USDA|VA) 2 $380,000 $190,000 $3,072 4.06%
    SIOUX CITY, IA-NE-SD (FHA|USDA|VA) 1 $55,000 $55,000 $834 8.69%
    Mutual First's top markets include Omaha, Lincoln, Fremont, and Sioux City among others.

    Their top states include:
  • Nebraska (FHA|USDA|VA)
  • Iowa (FHA|USDA|VA)

    • Similar Lenders

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

    KELLOGG MIDWEST FEDERAL CREDIT UNION
    Similarity Rank: 322
    U.S. HOME MORTGAGE, INC.
    Similarity Rank: 413
    MUTUAL FIRST
    Similarity Rank: 484
    Cobalt Credit Union
    Similarity Rank: 490
    Five Points Bank
    Similarity Rank: 572
    METRO CU
    Similarity Rank: 720
    CORNHUSKER BANK
    Similarity Rank: 782
    Central National Bank
    Similarity Rank: 792
    Security First Bank
    Similarity Rank: 812
    LIBERTY FIRST
    Similarity Rank: 882

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 99 $13,385,000 $135,202 $1,670 3.70%
    HELOC 4 $350,000 $87,500 n/a 4.38%

    For 2021, Mutual First's most frequently originated type of loan was Conventional, with 99 originations. Their 2nd most popular type was HELOC, with 4 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Other 26 $1,890,000 $72,692 $892 4.51%
    Cash Out Refi 22 $3,640,000 $165,455 $2,321 3.20%
    Home Purchase 19 $4,355,000 $229,211 $2,510 3.46%
    Home Improvement 18 $1,580,000 $87,778 $927 4.25%
    Refi 18 $2,270,000 $126,111 $1,724 2.98%

    For 2021, Mutual First's most frequently cited loan purpose was Other, with 26 originations. The 2nd most popular reason was Cash Out Refi, with 22 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    15 Year 34 $4,150,000 $122,059 $1,640 3.82%
    30 Year 32 $6,810,000 $212,813 $2,566 3.25%
    10 Year 16 $1,020,000 $63,750 $890 4.41%
    Other 12 $410,000 $34,167 $402 4.00%
    20 Year 6 $1,130,000 $188,333 $2,353 3.13%
    5 Year 2 $30,000 $15,000 $399 3.08%
    1 Year 1 $185,000 $185,000 $0 5.95%

    For 2021, Mutual First's most frequently cited loan duration was 15 Year, with 34 originations. The 2nd most popular length was 30 Year, with 32 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 96 $12,960,000 $135,000
    $1k-2k 2 $310,000 $155,000

    Mutual First's average total fees were $2,566, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 96 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    3-4% 48 $7,210,000 $150,208
    2.5-3% 25 $4,365,000 $174,600
    4-5% 11 $695,000 $63,182
    5-6% 8 $580,000 $72,500
    <2.5% 6 $690,000 $115,000
    6-7% 2 $80,000 $40,000
    7-8% 2 $60,000 $30,000
    Over 8% 1 $55,000 $55,000

    During 2021, Mutual First's average interest rate for loans was 3.25%, while their most frequently originated rate bucket for loans was 3-4%, with 48 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 46 $2,460,000 $53,478 $770 4.40%
    $100k-200k 36 $5,380,000 $149,444 $2,126 3.20%
    $200k-400k 18 $4,490,000 $249,444 $2,644 3.12%
    $400k-600k 3 $1,405,000 $468,333 $3,108 3.21%

    2021 saw Mutual First place emphasis on $100,000 or less loans with 46 originations, totaling $2,460,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 30 $3,680,000 $122,667 $1,441 3.95%
    $150k-250k 20 $3,530,000 $176,500 $1,798 3.74%
    $75k-100k 18 $2,500,000 $138,889 $1,937 3.27%
    $50k or less 17 $1,625,000 $95,588 $1,451 3.69%
    $50k-75k 13 $1,645,000 $126,538 $2,094 3.43%
    $250k+ 5 $755,000 $151,000 $1,386 4.82%

    Mutual First lent most frequently to those with incomes in the $100k-150k range, with 30 originations. The second most popular income band? $150k-250k, with 20 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    30-36% 25 $3,155,000 $126,200 $1,671 3.95%
    20-30% 23 $3,105,000 $135,000 $1,548 3.61%
    <20% 16 $1,890,000 $118,125 $1,867 3.18%
    38% 9 $1,315,000 $146,111 $1,650 3.91%
    39% 5 $535,000 $107,000 $879 3.95%
    37% 4 $590,000 $147,500 $1,934 3.39%
    41% 3 $715,000 $238,333 $1,953 3.03%
    40% 3 $235,000 $78,333 $1,669 3.40%
    42% 3 $365,000 $121,667 $2,264 3.92%
    45% 2 $120,000 $60,000 $535 6.57%
    43% 2 $100,000 $50,000 $1,284 3.78%
    44% 2 $500,000 $250,000 $2,822 3.13%
    50-60% 2 $310,000 $155,000 $1,672 4.08%
    36% 2 $380,000 $190,000 $2,324 3.63%
    48% 1 $185,000 $185,000 $0 5.95%
    47% 1 $235,000 $235,000 $2,637 2.88%

    Mutual First lent most frequently to those with DTI ratios of 30-36%, with 25 originations. The next most common DTI ratio? 20-30%, with 23 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 91 $12,105,000 $133,022 $1,680 3.71%
    Black 9 $1,205,000 $133,889 $1,507 3.63%
    Not provided 3 $425,000 $141,667 $1,881 4.27%

    Approval Rates

    Total approvals of all applications
    83.24%

    Mutual First has a below average approval rate.

    Pick Rate

    Approvals leading to origination
    50.49%

    Mutual First 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
    NA 103 $13,735,000 $133,350

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    103 $13,735,000 $133,350

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 17 $1,245,000 $73,235 $895 4.19%
    40-60% 16 $2,680,000 $167,500 $2,167 3.20%
    60-80% 26 $4,930,000 $189,615 $2,457 3.23%
    80-100% 20 $3,990,000 $199,500 $2,302 3.34%
    Under 20% 24 $890,000 $37,083 $446 4.59%

    Complaints

    Bank Name Product Issue 2021 CPFB Complaints % of Total Issues
    MUTUAL OF OMAHA MORTGAGE, LLC Conventional home mortgage Applying for a mortgage or refinancing an existing mortgage 5 26.3%
    MUTUAL OF OMAHA MORTGAGE, LLC Conventional home mortgage Closing on a mortgage 2 10.5%
    MUTUAL OF OMAHA MORTGAGE, LLC Conventional home mortgage Trouble during payment process 5 26.3%
    MUTUAL OF OMAHA MORTGAGE, LLC FHA mortgage Applying for a mortgage or refinancing an existing mortgage 3 15.8%
    MUTUAL OF OMAHA MORTGAGE, LLC FHA mortgage Closing on a mortgage 1 5.3%
    MUTUAL OF OMAHA MORTGAGE, LLC FHA mortgage Trouble during payment process 1 5.3%
    MUTUAL OF OMAHA MORTGAGE, LLC Other type of mortgage Trouble during payment process 1 5.3%
    MUTUAL OF OMAHA MORTGAGE, LLC Reverse mortgage Applying for a mortgage or refinancing an existing mortgage 1 5.3%