Heartland Credit Union Mortgage Rates, Fees & Info

Hutchinson, KS

LEI: 549300CRPIDBSEMEY066

Tax ID: 48-0612011

5 stars - out of 5 stars, based on 30 reviews

2021 Data | 2020 Data | 2019 Data | 2018 Data


Overview

Heartland Credit Union is a smaller credit union specializing in Home Purchase, Refi, and Cash Out Refi loans. Heartland Credit Union has a high proportion of conventional loans. Their top markets include Wichita, Hutchinson, Kansas City, Mcpherson, and Salina among others. Heartland Credit Union has an above average approval rate for mortages when compared nationally. They have a below average pick rate when compared to the same sample of other lendors. Heartland Credit Union is typically a low fee lendor.


Originations

879

Origination Dollar Volume (All Markets)

$127,415,000

Awards

HEARTLAND CREDIT UNION 30 Year Conventional Loans bronze HEARTLAND CREDIT UNION 30 Year Conventional Loans silver HEARTLAND CREDIT UNION 30 Year Conventional Loans gold
Show all (3) awards

Relative Rate

Heartland Credit Union's average 30 year fixed rate mortgage of loans were 3.31%.

The 2021 average 30 year fixed rate mortgage across all markets of loans were 3.15%.

This yields a difference of 0.16%.

Relative Fees

Heartland Credit Union's average total fees for a 30 year fixed rate mortgage are $2,190.

The average total origination fees for 30 year fixed rate mortgages (for all loan values, including both points & up-front fees in addition to origination fees) are $4,750.

Top Markets

Market Originations Total Value Average Loan Average Fees Average Rate
WICHITA, KS (FHA|USDA|VA) 398 $65,380,000 $164,271 $2,152 3.31%
Hutchinson, KS (FHA|USDA|VA) 351 $43,065,000 $122,692 $1,926 3.24%
Outside of Metro Areas 48 $7,080,000 $147,500 $2,137 2.93%
KANSAS CITY, MO-KS (FHA|USDA|VA) 19 $3,325,000 $175,000 $2,054 2.95%
McPherson, KS (FHA|USDA|VA) 19 $2,415,000 $127,105 $1,922 3.23%
Salina, KS (FHA|USDA|VA) 6 $900,000 $150,000 $2,125 3.46%
MANHATTAN, KS (FHA|USDA|VA) 4 $790,000 $197,500 $1,883 2.97%
LAWRENCE, KS (FHA|USDA|VA) 4 $730,000 $182,500 $1,773 3.14%
Hays, KS (FHA|USDA|VA) 3 $435,000 $145,000 $2,754 3.25%
Winfield, KS (FHA|USDA|VA) 6 $420,000 $70,000 $2,043 4.21%
Breckenridge, CO (FHA|USDA|VA) 1 $325,000 $325,000 $3,518 2.88%
Dodge City, KS (FHA|USDA|VA) 4 $290,000 $72,500 $1,734 3.56%
OKLAHOMA CITY, OK (FHA|USDA|VA) 1 $255,000 $255,000 $3,118 3.25%
OMAHA-COUNCIL BLUFFS, NE-IA (FHA|USDA|VA) 1 $245,000 $245,000 $3,452 2.88%
Coffeyville, KS (FHA|USDA|VA) 2 $240,000 $120,000 $7,248 4.06%
TULSA, OK (FHA|USDA|VA) 1 $225,000 $225,000 $2,641 2.38%
GREELEY, CO (FHA|USDA|VA) 1 $205,000 $205,000 $2,070 3.13%
Garden City, KS (FHA|USDA|VA) 1 $185,000 $185,000 $1,423 2.88%
TOPEKA, KS (FHA|USDA|VA) 2 $150,000 $75,000 $1,750 3.06%
Great Bend, KS (FHA|USDA|VA) 1 $135,000 $135,000 $2,271 2.88%
GRAND ISLAND, NE (FHA|USDA|VA) 1 $135,000 $135,000 $2,035 3.13%
ST. JOSEPH, MO-KS (FHA|USDA|VA) 1 $125,000 $125,000 $1,818 2.88%
Parsons, KS (FHA|USDA|VA) 1 $125,000 $125,000 $0 5.00%
Bartlesville, OK (FHA|USDA|VA) 1 $85,000 $85,000 $2,236 3.00%
Altus, OK (FHA|USDA|VA) 1 $85,000 $85,000 $2,398 2.75%
Atchison, KS (FHA|USDA|VA) 1 $65,000 $65,000 $1,820 4.13%

Heartland Credit Union's top markets include Wichita, Hutchinson, Kansas City, Mcpherson, and Salina among others.

Product Mix

Loan Type Originations Total Value Average Loan Average Fees Average Rate
Conventional 879 $127,415,000 $144,954 $2,057 3.25%

For the 2021 period, Heartland Credit Union's most frequently originated loan type of loans were Conventional, with 879 originations.

Loan Reason

Loan Reason Originations Total Value Average Loan Average Fees Average Rate
Home Purchase 315 $47,385,000 $150,429 $2,168 3.44%
Refi 310 $44,340,000 $143,032 $1,958 2.95%
Cash Out Refi 187 $28,775,000 $153,877 $2,130 3.25%
Other 50 $5,870,000 $117,400 $1,939 3.65%
Home Improvement 17 $1,045,000 $61,471 $1,513 4.28%

For the 2021, Heartland Credit Union's most frequently cited loan purpose of loans were Home Purchase, with 315 originations. The 2nd most popular reason of loans were Refi, with 310 originations.

Loan Duration/Length

Loan Length Originations Total Value Average Loan Average Fees Average Rate
30 Year 390 $61,320,000 $157,231 $2,190 3.31%
15 Year 262 $30,580,000 $116,718 $1,912 3.10%
20 Year 155 $27,115,000 $174,935 $2,026 3.23%
10 Year 62 $6,380,000 $102,903 $1,753 3.37%
1 Year 6 $1,830,000 $305,000 $3,526 5.08%
Other 3 $115,000 $38,333 $1,570 4.75%
5 Year 1 $75,000 $75,000 $1,522 2.50%

For the 2021, Heartland Credit Union's most frequently cited loan length of loans were 30 Year, with 390 originations. The 2nd most popular length of loans were 15 Year, with 262 originations.

Origination Fees

Origination Fee Originations Total Value Average Loan
$<1k 650 $90,730,000 $139,585
$1k-2k 155 $22,285,000 $143,774
$2k-3k 14 $2,380,000 $170,000
$3k-4k 7 $1,805,000 $257,857
$5k+ 2 $500,000 $250,000

$2,190 of loans were Heartland Credit Union's average total fees, while their most frequently occuring range of origination fees were in the $<1k bucket, with 650 originations.

Interest Rates

Loan Rate Originations Total Value Average Loan
3-4% 367 $50,625,000 $137,943
2.5-3% 359 $55,225,000 $153,830
4-5% 66 $9,100,000 $137,879
<2.5% 61 $10,095,000 $165,492
5-6% 23 $2,305,000 $100,217
6-7% 2 $40,000 $20,000
Over 8% 1 $25,000 $25,000

During 2021, Heartland Credit Union's average interest rate of loans were 3.31%, while their most frequently originated rate bucket of loans were 3-4%, with 367 originations.

Loan Sizing

Loan Size Originations Total Value Average Loan Average Fees Average Rate
$100k-200k 394 $56,820,000 $144,213 $2,062 3.12%
$100,000 or less 316 $20,870,000 $66,044 $1,806 3.50%
$200k-400k 155 $39,945,000 $257,710 $2,482 3.08%
$400k-600k 8 $3,780,000 $472,500 $2,629 3.17%
$600k-1MM 4 $2,840,000 $710,000 $3,293 3.56%
$1MM+ 2 $3,160,000 $1,580,000 $0 4.13%

2021 saw Heartland Credit Union place emphasis on $100k-200k loans with 394 originations, totaling $56,820,000 in origination value.

Applicant Income

Applicant Income Originations Total Value Average Loan Average Fees Average Rate
$50k-75k 212 $25,590,000 $120,708 $2,003 3.15%
$50k or less 187 $16,585,000 $88,690 $1,908 3.27%
$100k-150k 180 $31,260,000 $173,667 $2,165 3.13%
$75k-100k 170 $24,710,000 $145,353 $2,031 3.19%
$150k-250k 68 $14,790,000 $217,500 $2,304 3.24%
$250k+ 16 $5,540,000 $346,250 $2,577 3.01%

Heartland Credit Union lent most frequently to those with incomes in the $50k-75k range, with 212 originations. The second most popular income band? $50k or less, with 187 originations.

Applicant Debt to Income Ratio

DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
20-30% 230 $30,920,000 $134,435 $2,023 3.20%
30-36% 178 $26,030,000 $146,236 $2,046 3.19%
<20% 89 $12,895,000 $144,888 $1,970 3.01%
41% 34 $5,050,000 $148,529 $2,013 3.12%
43% 33 $4,515,000 $136,818 $2,127 3.23%
40% 32 $3,910,000 $122,188 $1,966 3.14%
36% 31 $4,005,000 $129,194 $2,336 3.31%
42% 28 $3,890,000 $138,929 $2,271 3.25%
44% 27 $4,255,000 $157,593 $2,057 3.03%
38% 26 $3,430,000 $131,923 $2,083 3.18%
39% 25 $4,205,000 $168,200 $2,084 3.13%
37% 21 $3,725,000 $177,381 $2,509 3.14%
47% 17 $2,125,000 $125,000 $1,877 3.43%
48% 17 $3,255,000 $191,471 $1,925 2.95%
45% 16 $2,000,000 $125,000 $2,040 3.28%
49% 14 $2,330,000 $166,429 $2,050 3.18%
46% 6 $710,000 $118,333 $1,998 3.23%
50-60% 4 $630,000 $157,500 $2,117 3.41%
>60% 1 $135,000 $135,000 $1,885 3.13%

Heartland Credit Union lent most frequently to those with DTI ratios of 20-30%, with 230 originations. The next most common DTI ratio? 30-36%, with 178 originations.

Ethnicity Mix

Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
White 606 $88,380,000 $145,842 $2,065 3.19%
Not provided 222 $29,270,000 $131,847 $2,030 3.18%
Not applicable 40 $8,030,000 $200,750 $0 4.59%
Black 8 $1,190,000 $148,750 $2,098 3.39%
Asian 2 $480,000 $240,000 $2,494 3.88%
Other Asian 1 $65,000 $65,000 $2,045 2.75%

Approval Rates

Total approvals of all applications
90.50%

Heartland Credit Union has an average approval rate.

Pick Rate

Approvals leading to origination
67.39%

Heartland Credit Union has a low pick rate. They may have issues with closing loans or may approve everyone, but with onerous loan terms.

Points and Fees

Points Originations Total Value Average Loan
NA 879 $127,415,000 $144,954

Occupancy Type Mix

Dwelling Type Originations Total Value Average Loan
879 $127,415,000 $144,954

LTV Distribution

Loan to Value Originations Total Value Average Loan Average Fees Average Rate
20-40% 31 $2,115,000 $68,226 $1,725 3.46%
40-60% 118 $14,710,000 $124,661 $1,877 2.97%
60-80% 399 $62,645,000 $157,005 $2,085 3.27%
80-100% 315 $47,005,000 $149,222 $2,162 3.25%
Under 20% 16 $940,000 $58,750 $1,321 4.82%