Building Trades Federal Credit Union Mortgage Rates, Fees & Info
Maple Grove, MNLEI: 549300CMT3RKMW1QLO34
Tax ID: 41-0831239
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Mortgage Data
Review & Overview
Building Trades Federal Credit Union is a smaller credit union specializing in Home Improvement and Refi loans. Building Trades Federal Credit Union has a high proportion of conventional loans. Their top markets by origination volume include: Minneapolis, Brainerd, Fergus Falls, Red Wing, and Rochester among others. We have data for 9 markets. (Some data included below & more in-depth data is available with an active subscription.)Building Trades 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. Building Trades Federal 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.
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Originations
119Origination Dollar Volume (All Markets)
$7,715,000Top 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 |
|---|---|---|---|---|---|
| MINNEAPOLIS-ST. PAUL-BLOOMINGTON, MN-WI (FHA|USDA|VA) | 104 | $6,590,000 | $63,365 | $706 | 8.97% |
| Brainerd, MN (FHA|USDA|VA) | 2 | $350,000 | $175,000 | $2,721 | 4.12% |
| Outside of Metro Areas | 6 | $340,000 | $56,667 | $1,011 | 5.46% |
| Fergus Falls, MN (FHA|USDA|VA) | 2 | $150,000 | $75,000 | $1,982 | 4.85% |
| Red Wing, MN (FHA|USDA|VA) | 1 | $75,000 | $75,000 | $762 | 5.99% |
| ROCHESTER, MN (FHA|USDA|VA) | 1 | $65,000 | $65,000 | $836 | 4.99% |
| ST. CLOUD, MN (FHA|USDA|VA) | 1 | $65,000 | $65,000 | $577 | 3.49% |
| Faribault-Northfield, MN (FHA|USDA|VA) | 1 | $45,000 | $45,000 | $540 | 5.19% |
| Owatonna, MN (FHA|USDA|VA) | 1 | $35,000 | $35,000 | $567 | 4.69% |
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 119 | $7,715,000 | $64,832 | $774 | 8.47% |
For 2018, Building Trades Federal Credit Union's most frequently originated type of loan was Conventional, with 119 originations.
Loan Reason
For 2018, Building Trades Federal Credit Union's most frequently cited loan purpose was Home Improvement, with 60 originations. The 2nd most popular reason was Refi, with 28 originations.
Loan Duration/Length
For 2018, Building Trades Federal Credit Union's most frequently cited loan duration was 10 Year, with 44 originations. The 2nd most popular length was 15 Year, with 23 originations.
Origination Fees/Closing Costs
| Origination Fee/Closing Cost | Originations | Total Value | Average Loan |
|---|---|---|---|
| $<1k | 110 | $6,110,000 | $55,545 |
| $2k-3k | 5 | $705,000 | $141,000 |
| $1k-2k | 2 | $370,000 | $185,000 |
| $4k-5k | 2 | $530,000 | $265,000 |
Building Trades Federal Credit Union's average total fees were $3,037, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 110 originations.
Interest Rates
During 2018, Building Trades Federal Credit Union's average interest rate for loans was 3.99%, while their most frequently originated rate bucket for loans was 4-5%, with 41 originations.
Loan Sizing
2018 saw Building Trades Federal Credit Union place emphasis on $100,000 or less loans with 97 originations, totaling $4,315,000 in origination value.
Applicant Income
Building Trades Federal Credit Union lent most frequently to those with incomes in the $100k-150k range, with 49 originations. The second most popular income band? $75k-100k, with 32 originations.
Applicant Debt to Income Ratio
Building Trades Federal Credit Union lent most frequently to those with DTI ratios of 20-30%, with 37 originations. The next most common DTI ratio? 30-36%, with 27 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications99.20%
Building Trades Federal Credit Union has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.
Pick Rate
Approvals leading to origination95.80%
Building Trades 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 |
|---|---|---|---|
| NA | 119 | $7,715,000 | $64,832 |
Occupancy Type Mix
| Dwelling Type | Originations | Total Value | Average Loan |
|---|---|---|---|
| Single Family (1-4 Units):Manufactured | 1 | $25,000 | $25,000 |
| Single Family (1-4 Units):Site-Built | 118 | $7,690,000 | $65,169 |