Heartland Credit Union Mortgage Rates, Fees & Info
Hutchinson, KSLEI: 549300CRPIDBSEMEY066
Tax ID: 48-0612011
2021 Data | 2020 Data | 2019 Data | 2018 Data
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Mortgage 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
879Origination Dollar Volume (All Markets)
$127,415,000Awards
HEARTLAND CREDIT UNION - 2021
HEARTLAND CREDIT UNION is a 2021 , due to their low .
For 2021, less than of lenders were eligible for this award.
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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 applications90.50%
Heartland Credit Union has an average approval rate.
Pick Rate
Approvals leading to origination67.39%
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% |
