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, Hutchinson, St. Cloud, and Faribault among others. We have data for 5 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.
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Originations
42Origination Dollar Volume (All Markets)
$3,900,000Top 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) | 37 | $3,565,000 | $96,351 | $0 | 0.00% |
| Brainerd, MN (FHA|USDA|VA) | 2 | $170,000 | $85,000 | $0 | 0.00% |
| Hutchinson, MN (FHA|USDA|VA) | 1 | $85,000 | $85,000 | $0 | 0.00% |
| ST. CLOUD, MN (FHA|USDA|VA) | 1 | $45,000 | $45,000 | $0 | 0.00% |
| Faribault-Northfield, MN (FHA|USDA|VA) | 1 | $35,000 | $35,000 | $0 | 0.00% |
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 42 | $3,900,000 | $92,857 | $0 | 0.00% |
For 2020, Building Trades Federal Credit Union's most frequently originated type of loan was Conventional, with 42 originations.
Loan Reason
For 2020, Building Trades Federal Credit Union's most frequently cited loan purpose was Home Improvement, with 23 originations. The 2nd most popular reason was Refi, with 12 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Other | 42 | $3,900,000 | $92,857 | $0 | 0.00% |
For 2020, Building Trades Federal Credit Union's most frequently cited loan duration was Other, with 42 originations.
Loan Sizing
2020 saw Building Trades Federal Credit Union place emphasis on $100,000 or less loans with 30 originations, totaling $1,570,000 in origination value.
Applicant Income
Building Trades Federal Credit Union lent most frequently to those with incomes in the $100k-150k range, with 14 originations. The second most popular income band? $150k-250k, with 13 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Exempt% | 42 | $3,900,000 | $92,857 | $0 | 0.00% |
Building Trades Federal Credit Union lent most frequently to those with DTI ratios of Exempt%, with 42 originations.
Ethnicity Mix
| Applicant Ethnicity | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| White | 39 | $3,745,000 | $96,026 | $0 | 0.00% |
| Not provided | 2 | $100,000 | $50,000 | $0 | 0.00% |
| Asian | 1 | $55,000 | $55,000 | $0 | 0.00% |
Approval Rates
Total approvals of all applications97.73%
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 origination97.62%
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 |
|---|---|---|---|
| Exempt | 42 | $3,900,000 | $92,857 |