Duke University Federal Credit Union Mortgage Rates, Fees & Info
Durham, NCLEI: 549300C04W4R4VGWRT26
Tax ID: 56-1632379
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Mortgage Data
Review & Overview
Duke University Federal Credit Union is a smaller credit union specializing in Home Improvement loans. Duke University Federal Credit Union has an average proportion of conventional loans. Their top markets by origination volume include: Durham, Raleigh, Burlington, and Charlotte among others. We have data for 5 markets. (Some data included below & more in-depth data is available with an active subscription.)Duke University Federal 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.
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.
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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| 30 Year Conventional Purchase | 6.56% | 11/17/24 |
| 30 Year Conventional Refi | 6.53% | 11/17/24 |
| 30 Year Cash-out Refi | 6.87% | 11/17/24 |
| 15 Year Conventional Refi | 6.10% | 11/17/24 |
| 15 Year Cash-out Refi | 6.10% | 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. | ||
Duke University Federal Credit Union Mortgage Calculator
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
62Origination Dollar Volume (All Markets)
$4,490,000Top 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 |
|---|---|---|---|---|---|
| DURHAM-CHAPEL HILL, NC (FHA|USDA|VA) | 50 | $3,380,000 | $67,600 | $0 | 8.50% |
| RALEIGH-CARY, NC (FHA|USDA|VA) | 7 | $855,000 | $122,143 | $0 | 8.71% |
| BURLINGTON, NC (FHA|USDA|VA) | 3 | $175,000 | $58,333 | $0 | 10.43% |
| Outside of Metro Areas | 1 | $55,000 | $55,000 | $0 | 8.00% |
| CHARLOTTE-CONCORD-GASTONIA, NC-SC (FHA|USDA|VA) | 1 | $25,000 | $25,000 | $0 | 8.75% |
Their top states include:
Similar Lenders
We use machine learning to identify the top lenders compared against DUKE UNIVERSITY FEDERAL CREDIT UNION based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.
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Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| HELOC | 43 | $3,315,000 | $77,093 | n/a | 8.47% |
| Conventional | 19 | $1,175,000 | $61,842 | $0 | 8.92% |
For 2023, Duke University Federal Credit Union's most frequently originated type of loan was HELOC, with 43 originations. Their 2nd most popular type was Conventional, with 19 originations.
Loan Reason
For 2023, Duke University Federal Credit Union's most frequently cited loan purpose was Home Improvement, with 57 originations. The 2nd most popular reason was Cash Out Refi, with 3 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| 15 Year | 55 | $4,185,000 | $76,091 | $0 | 8.54% |
| 10 Year | 6 | $270,000 | $45,000 | $0 | 9.13% |
| Other | 1 | $35,000 | $35,000 | $0 | 9.30% |
For 2023, Duke University Federal Credit Union's most frequently cited loan duration was 15 Year, with 55 originations. The 2nd most popular length was 10 Year, with 6 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| Over 8% | 50 | $3,540,000 | $70,800 |
| 7-8% | 12 | $950,000 | $79,167 |
During 2023, Duke University Federal Credit Union's average interest rate for loans was 0.00%, while their most frequently originated rate bucket for loans was Over 8%, with 50 originations.
Loan Sizing
2023 saw Duke University Federal Credit Union place emphasis on $100,000 or less loans with 49 originations, totaling $2,685,000 in origination value.
Applicant Income
Duke University Federal Credit Union lent most frequently to those with incomes in the $100k-150k range, with 19 originations. The second most popular income band? $75k-100k, with 12 originations.
Applicant Debt to Income Ratio
Duke University Federal Credit Union lent most frequently to those with DTI ratios of <20%, with 16 originations. The next most common DTI ratio? 20-30%, with 10 originations.
Ethnicity Mix
| Applicant Ethnicity | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| White | 39 | $2,915,000 | $74,744 | $0 | 8.47% |
| Black | 18 | $1,370,000 | $76,111 | $0 | 8.84% |
| Asian | 5 | $205,000 | $41,000 | $0 | 8.93% |
Approval Rates
Total approvals of all applications77.66%
Duke University Federal Credit Union has a below average approval rate.
Pick Rate
Approvals leading to origination82.26%
Duke University Federal Credit Union has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 62 | $4,490,000 | $72,419 |