Building Trades Federal Credit Union Mortgage Rates, Fees & Info

Maple Grove, MN

LEI: 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

42

Origination Dollar Volume (All Markets)

$3,900,000

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
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%
Building Trades Federal Credit Union's top markets include Minneapolis, Brainerd, Hutchinson, St. Cloud, and Faribault among others.

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

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Improvement 23 $1,595,000 $69,348 $0 0.00%
    Refi 12 $1,790,000 $149,167 $0 0.00%
    Other 5 $235,000 $47,000 $0 0.00%
    Home Purchase 1 $45,000 $45,000 $0 0.00%
    Cash Out Refi 1 $235,000 $235,000 $0 0.00%

    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

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 30 $1,570,000 $52,333 $0 0.00%
    $100k-200k 8 $1,070,000 $133,750 $0 0.00%
    $200k-400k 3 $835,000 $278,333 $0 0.00%
    $400k-600k 1 $425,000 $425,000 $0 0.00%

    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

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 14 $1,120,000 $80,000 $0 0.00%
    $150k-250k 13 $1,275,000 $98,077 $0 0.00%
    $75k-100k 12 $1,330,000 $110,833 $0 0.00%
    $50k-75k 2 $90,000 $45,000 $0 0.00%
    $50k or less 1 $85,000 $85,000 $0 0.00%

    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 applications
    97.73%

    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 origination
    97.62%

    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

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Single Family (1-4 Units):Manufactured 1 $45,000 $45,000
    Single Family (1-4 Units):Site-Built 41 $3,855,000 $94,024