Cardinal Credit Union Mortgage Rates, Fees & Info

Mentor, OH

LEI: 549300BY8DZPEK4ZR022

Tax ID: 34-0825291

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

    Cardinal Credit Union is a smaller credit union specializing in Home Purchase loans. Cardinal Credit Union has a high proportion of conventional loans. Their top markets by origination volume include: Cleveland, Ashtabula, Youngstown, Cincinnati, and Blytheville among others. We have data for 6 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Cardinal 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. Cardinal 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 6.66% 4/28/24
    30 Year Conventional Refi 6.37% 4/28/24
    30 Year Cash-out Refi 6.56% 4/28/24
    15 Year Conventional Purchase 6.02% 4/28/24
    15 Year Conventional Refi 5.74% 4/28/24
    15 Year Cash-out Refi 5.74% 4/28/24
    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.

    Cardinal Credit Union Mortgage Calculator






    Your Estimates

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

    This is not an official calculator from Cardinal 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

    218

    Origination Dollar Volume (All Markets)

    $17,540,000

    Awards

    CARDINAL CREDIT UNION 30 Year Conventional Loans bronze
    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
    CLEVELAND-ELYRIA, OH (FHA|USDA|VA) 180 $14,800,000 $82,222 $2,941 5.03%
    Ashtabula, OH (FHA|USDA|VA) 19 $1,075,000 $56,579 $2,720 5.46%
    Outside of Metro Areas 4 $910,000 $227,500 $3,258 4.56%
    YOUNGSTOWN-WARREN-BOARDMAN, OH-PA (FHA|USDA|VA) 13 $475,000 $36,538 $3,267 5.48%
    CINCINNATI, OH-KY-IN (FHA|USDA|VA) 1 $225,000 $225,000 $3,793 4.93%
    Blytheville, AR (FHA|USDA|VA) 1 $55,000 $55,000 $0 4.74%
    Cardinal Credit Union's top markets include Cleveland, Ashtabula, Youngstown, Cincinnati, and Blytheville among others.

    Their top states include:
  • Ohio (FHA|USDA|VA)
  • New York (FHA|USDA|VA)
  • North Carolina (FHA|USDA|VA)
  • Florida (FHA|USDA|VA)
  • Arkansas (FHA|USDA|VA)

    • Similar Lenders

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

    Cleveland Selfreliance FCU
    Similarity Rank: 15
    CARDINAL CREDIT UNION, INC.
    Similarity Rank: 552
    Ohio Catholic Federal Credit Union
    Similarity Rank: 637
    Community Star Credit Union
    Similarity Rank: 714
    First Security Mortgage Corporation
    Similarity Rank: 728
    FIRST EQUITY MORTGAGE INCORPORATED
    Similarity Rank: 1170
    THE BANKERS GUARANTEE TITLE & TRUST COMPANY
    Similarity Rank: 1380
    PULTE MORTGAGE LLC
    Similarity Rank: 1550
    The Cortland Savings and Banking Company
    Similarity Rank: 2000
    HOME MORTGAGE ASSURED CORPORATION
    Similarity Rank: 2200

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    HELOC 122 $5,920,000 $48,525 n/a 5.26%
    Conventional 96 $11,620,000 $121,042 $2,956 4.86%

    For 2018, Cardinal Credit Union's most frequently originated type of loan was HELOC, with 122 originations. Their 2nd most popular type was Conventional, with 96 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 59 $8,265,000 $140,085 $3,254 4.82%
    Home Improvement 59 $2,085,000 $35,339 $413 5.11%
    Refi 41 $3,365,000 $82,073 $2,752 5.33%
    Other 32 $1,500,000 $46,875 $482 5.27%
    Cash Out Refi 27 $2,325,000 $86,111 $2,749 5.02%

    For 2018, Cardinal Credit Union's most frequently cited loan purpose was Home Purchase, with 59 originations. The 2nd most popular reason was Home Improvement, with 59 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    20 Year 128 $6,490,000 $50,703 $1,450 5.20%
    30 Year 68 $9,090,000 $133,676 $3,266 4.98%
    15 Year 15 $1,565,000 $104,333 $2,774 4.46%
    Other 4 $110,000 $27,500 $1,267 6.62%
    10 Year 2 $200,000 $100,000 $2,749 4.19%
    5 Year 1 $85,000 $85,000 $414 3.25%

    For 2018, Cardinal Credit Union's most frequently cited loan duration was 20 Year, with 128 originations. The 2nd most popular length was 30 Year, with 68 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $1k-2k 87 $10,885,000 $125,115
    $<1k 8 $430,000 $53,750
    $3k-4k 1 $305,000 $305,000

    Cardinal Credit Union's average total fees were $3,266, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 87 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    4-5% 150 $12,800,000 $85,333
    5-6% 37 $3,535,000 $95,541
    6-7% 17 $655,000 $38,529
    7-8% 7 $165,000 $23,571
    3-4% 4 $320,000 $80,000
    Over 8% 3 $65,000 $21,667

    During 2018, Cardinal Credit Union's average interest rate for loans was 4.98%, while their most frequently originated rate bucket for loans was 4-5%, with 150 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 154 $7,200,000 $46,753 $2,542 5.20%
    $100k-200k 52 $6,890,000 $132,500 $3,204 4.83%
    $200k-400k 11 $2,835,000 $257,727 $3,939 4.75%
    $600k-1MM 1 $615,000 $615,000 $3,294 4.75%

    2018 saw Cardinal Credit Union place emphasis on $100,000 or less loans with 154 originations, totaling $7,200,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 62 $4,880,000 $78,710 $3,017 5.00%
    $50k or less 61 $2,995,000 $49,098 $2,522 5.42%
    $75k-100k 43 $3,805,000 $88,488 $3,159 5.00%
    $100k-150k 36 $3,370,000 $93,611 $3,351 4.95%
    $150k-250k 13 $1,625,000 $125,000 $2,967 4.65%
    $250k+ 3 $865,000 $288,333 $3,294 5.08%

    Cardinal Credit Union lent most frequently to those with incomes in the $50k-75k range, with 62 originations. The second most popular income band? $50k or less, with 61 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 54 $3,950,000 $73,148 $2,889 5.31%
    30-36% 50 $3,740,000 $74,800 $2,944 4.95%
    <20% 21 $1,595,000 $75,952 $2,345 5.03%
    40% 11 $1,285,000 $116,818 $3,198 5.28%
    39% 11 $955,000 $86,818 $2,881 5.11%
    38% 10 $460,000 $46,000 $2,923 4.93%
    41% 10 $930,000 $93,000 $3,527 4.96%
    45% 8 $510,000 $63,750 $2,924 5.34%
    44% 7 $995,000 $142,143 $3,710 4.82%
    36% 7 $455,000 $65,000 $2,492 5.08%
    48% 6 $550,000 $91,667 $3,049 5.51%
    42% 5 $415,000 $83,000 $2,160 4.62%
    37% 5 $525,000 $105,000 $3,432 4.87%
    49% 5 $585,000 $117,000 $3,532 5.20%
    43% 3 $215,000 $71,667 $2,992 4.43%
    50-60% 2 $70,000 $35,000 $0 4.87%
    46% 2 $180,000 $90,000 $3,049 4.86%
    47% 1 $125,000 $125,000 $3,464 4.80%

    Cardinal Credit Union lent most frequently to those with DTI ratios of 20-30%, with 54 originations. The next most common DTI ratio? 30-36%, with 50 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 165 $12,635,000 $76,576 $2,887 5.10%
    Not provided 43 $3,995,000 $92,907 $3,039 4.96%
    Black 10 $910,000 $91,000 $3,229 5.45%

    Approval Rates

    Total approvals of all applications
    87.38%

    Cardinal Credit Union has an average approval rate.

    Pick Rate

    Approvals leading to origination
    88.53%

    Cardinal Credit Union has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 218 $17,540,000 $80,459

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Single Family (1-4 Units):Site-Built 218 $17,540,000 $80,459

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 45 $2,145,000 $47,667 $1,745 5.15%
    40-60% 30 $2,400,000 $80,000 $2,533 5.18%
    60-80% 48 $4,880,000 $101,667 $2,982 4.92%
    80-100% 43 $6,695,000 $155,698 $3,329 4.82%
    Under 20% 52 $1,420,000 $27,308 $413 5.35%

    Complaints

    Bank Name Product Issue 2018 CPFB Complaints % of Total Issues
    CARDINAL FINANCIAL COMPANY Conventional home mortgage Applying for a mortgage or refinancing an existing mortgage 3 12.0%
    CARDINAL FINANCIAL COMPANY Conventional home mortgage Closing on a mortgage 2 8.0%
    CARDINAL FINANCIAL COMPANY Conventional home mortgage Improper use of your report 1 4.0%
    CARDINAL FINANCIAL COMPANY Conventional home mortgage Trouble during payment process 14 56.0%
    CARDINAL FINANCIAL COMPANY FHA mortgage Struggling to pay mortgage 1 4.0%
    CARDINAL FINANCIAL COMPANY FHA mortgage Trouble during payment process 1 4.0%
    CARDINAL FINANCIAL COMPANY Home equity loan or line of credit (HELOC) Applying for a mortgage or refinancing an existing mortgage 1 4.0%
    CARDINAL FINANCIAL COMPANY Other type of mortgage Applying for a mortgage or refinancing an existing mortgage 1 4.0%
    CARDINAL FINANCIAL COMPANY VA mortgage Closing on a mortgage 1 4.0%