Heartland Credit Union Mortgage Rates, Fees & Info

Hutchinson, KS

LEI: 549300CRPIDBSEMEY066

Tax ID: 48-0612011

5 stars - out of 5 stars, based on 22 reviews

Latest/2022 | 2021 Data | 2020 Data | 2019 Data | 2018 Data

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  • SimulatedRates™
  • Mortgage Calculator

    • Mortgage Data

  • Originations
  • Relative Rates
  • Relative Fees
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • Similar Lenders
  • Loan Length
  • Loan to Value Info
  • Debt-to-Income
  • Applicant Income
  • Ethnicity Info
  • Approval & Pick Rates
  • Points and Fees
  • Origination Fees (Closing Costs)

    • Review & Overview

    Heartland Credit Union is a smaller credit union specializing in Home Purchase and Cash Out Refi loans. Heartland Credit Union has a high proportion of conventional loans. Their top markets by origination volume include: Wichita, Hutchinson, Kansas City, Mcpherson, and Topeka among others. We have data for 23 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Heartland Credit Union has an average approval rate when compared to the average across all lenders. They have a below average pick rate when compared to similar lenders. Heartland 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.

    We show data for every lender and do not change our ratings-- even if an organization is a paid advertiser. Our consensus data does have lag, but it is highly correlated to a lender's rates & fees relative to their markets. This means that if a bank is a low fee/rate lender the past-- chances are they are still one today. Our SimulatedRates™ use advanced statistical techniques to forecast different rates based on a lender's historical data.

    Mortgage seekers: Choose your metro area here to explore the lowest fee & rate lenders.

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    SimulatedRates™

    Mortgage Type     		Simulated Rate Simulation Date
    30 Year Conventional Purchase 7.13% 5/27/23
    30 Year Conventional Refi 6.74% 5/27/23
    30 Year Cash-out Refi 7.08% 5/27/23
    15 Year Conventional Purchase 6.08% 5/27/23
    15 Year Conventional Refi 6.38% 5/27/23
    15 Year Cash-out Refi 6.38% 5/27/23
    These are simulated rates generated by our proprietary machine learning models. These are not guaranteed by the bank. They are our estimates based on a lender's past behaviors combined with current market conditions. Contact an individual lender for their actual rates. Our models use fixed rate terms for conforming loans, 700+ FICO, 10% down for FHA and 20% for conventional. These are based on consensus, historical data-- not advertised promotional rates.

    Heartland Credit Union Mortgage Calculator






    Your Estimates

    Estimated Loan Payment: Update the calculator values and click calculate payment!

    This is not an official calculator from Heartland Credit Union. It uses our SimulatedRate™ technology, basic math and reasonable assumptions to calculate mortgage payments derived from our simulations and your inputs.

    The default purchase price is the median sales price across the US for 2022Q4, per FRED.


    Originations

    466

    Origination Dollar Volume (All Markets)

    $72,350,000

    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 mortgage rate was 4.85%.

    The 2022 average 30 year fixed rate mortgage across all markets and lenders was 4.76%.

    This yields a difference of 0.09%.

    Relative Fees (Closing Costs)

    Heartland Credit Union's average total fees/closing costs for a 30 year fixed rate mortgage were $2,444.

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

    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
    WICHITA, KS (FHA|USDA|VA) 224 $41,140,000 $183,661 $2,360 4.65%
    Hutchinson, KS (FHA|USDA|VA) 154 $17,040,000 $110,649 $2,080 4.81%
    Outside of Metro Areas 28 $3,890,000 $138,929 $2,067 4.51%
    KANSAS CITY, MO-KS (FHA|USDA|VA) 9 $2,445,000 $271,667 $2,342 5.10%
    McPherson, KS (FHA|USDA|VA) 9 $1,455,000 $161,667 $2,459 4.46%
    TOPEKA, KS (FHA|USDA|VA) 4 $1,130,000 $282,500 $2,488 5.66%
    LAWRENCE, KS (FHA|USDA|VA) 3 $985,000 $328,333 $3,417 4.33%
    Parsons, KS (FHA|USDA|VA) 8 $930,000 $116,250 $0 5.27%
    DENVER-AURORA-LAKEWOOD, CO (FHA|USDA|VA) 1 $605,000 $605,000 $4,796 6.00%
    Hays, KS (FHA|USDA|VA) 4 $450,000 $112,500 $2,982 4.88%
    Garden City, KS (FHA|USDA|VA) 1 $365,000 $365,000 $2,341 4.88%
    Coffeyville, KS (FHA|USDA|VA) 1 $285,000 $285,000 $0 5.50%
    Sedalia, MO (FHA|USDA|VA) 1 $245,000 $245,000 $1,810 3.63%
    OKLAHOMA CITY, OK (FHA|USDA|VA) 2 $240,000 $120,000 $1,657 3.81%
    Winfield, KS (FHA|USDA|VA) 5 $225,000 $45,000 $2,178 5.38%
    Great Bend, KS (FHA|USDA|VA) 3 $215,000 $71,667 $2,047 4.46%
    TULSA, OK (FHA|USDA|VA) 1 $185,000 $185,000 $3,145 3.13%
    Ottawa, KS (FHA|USDA|VA) 2 $140,000 $70,000 $1,105 4.49%
    MANHATTAN, KS (FHA|USDA|VA) 1 $125,000 $125,000 $10 5.88%
    Altus, OK (FHA|USDA|VA) 1 $95,000 $95,000 $3,610 3.63%
    ST. JOSEPH, MO-KS (FHA|USDA|VA) 2 $70,000 $35,000 $3,172 4.81%
    Emporia, KS (FHA|USDA|VA) 1 $55,000 $55,000 $1,780 3.50%
    Ponca City, OK (FHA|USDA|VA) 1 $35,000 $35,000 $3,269 7.99%
    Heartland Credit Union's top markets include Wichita, Hutchinson, Kansas City, Mcpherson, and Topeka among others.

    Their top states include:
  • Kansas (FHA|USDA|VA)
  • Oklahoma (FHA|USDA|VA)
  • Colorado (FHA|USDA|VA)
  • Missouri (FHA|USDA|VA)
  • Iowa (FHA|USDA|VA)

    • Similar Lenders

    We use machine learning to identify the top lenders compared against HEARTLAND CREDIT UNION based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.

    SKYWARD
    Similarity Rank: 96
    PANHANDLE FEDERAL CREDIT UNION
    Similarity Rank: 132
    GOLDEN PLAINS
    Similarity Rank: 160
    Members Mortgage Services, L.L.C.
    Similarity Rank: 264
    HOME BANK AND TRUST COMPANY
    Similarity Rank: 280
    Central National Bank
    Similarity Rank: 286
    MID AMERICAN
    Similarity Rank: 450
    Intrust Bank
    Similarity Rank: 731
    Wichita Federal Credit Union
    Similarity Rank: 790
    CREDIT UNION OF AMERICA
    Similarity Rank: 992

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 466 $72,350,000 $155,258 $2,263 4.73%

    For 2022, Heartland Credit Union's most frequently originated type of loan was Conventional, with 466 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 286 $47,100,000 $164,685 $2,459 4.86%
    Cash Out Refi 89 $14,565,000 $163,652 $2,165 4.68%
    Refi 48 $6,990,000 $145,625 $2,128 4.08%
    Other 29 $2,935,000 $101,207 $1,545 4.96%
    Home Improvement 14 $760,000 $54,286 $1,141 4.04%

    For 2022, Heartland Credit Union's most frequently cited loan purpose was Home Purchase, with 286 originations. The 2nd most popular reason was Cash Out Refi, with 89 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 271 $45,895,000 $169,354 $2,444 4.85%
    15 Year 98 $9,590,000 $97,857 $1,944 4.61%
    20 Year 57 $11,215,000 $196,754 $2,123 4.47%
    10 Year 23 $1,365,000 $59,348 $1,454 4.80%
    5 Year 7 $215,000 $30,714 $864 3.56%
    Other 6 $2,020,000 $336,667 $0 4.50%
    1 Year 4 $2,050,000 $512,500 $3,774 4.81%

    For 2022, Heartland Credit Union's most frequently cited loan duration was 30 Year, with 271 originations. The 2nd most popular length was 15 Year, with 98 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 340 $51,970,000 $152,853
    $1k-2k 54 $6,990,000 $129,444
    $2k-3k 9 $1,105,000 $122,778
    $3k-4k 4 $520,000 $130,000
    $4k-5k 1 $645,000 $645,000

    Heartland Credit Union's average total fees were $2,444, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 340 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    3-4% 141 $21,405,000 $151,809
    4-5% 123 $19,215,000 $156,220
    5-6% 96 $16,870,000 $175,729
    6-7% 46 $6,330,000 $137,609
    2.5-3% 35 $6,185,000 $176,714
    7-8% 20 $2,130,000 $106,500
    Over 8% 5 $215,000 $43,000

    During 2022, Heartland Credit Union's average interest rate for loans was 4.85%, while their most frequently originated rate bucket for loans was 3-4%, with 141 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 177 $10,525,000 $59,463 $1,898 5.01%
    $100k-200k 170 $24,500,000 $144,118 $2,316 4.65%
    $200k-400k 102 $26,540,000 $260,196 $2,609 4.34%
    $400k-600k 10 $4,590,000 $459,000 $3,080 4.46%
    $600k-1MM 6 $4,370,000 $728,333 $4,538 5.25%
    $1MM+ 1 $1,825,000 $1,825,000 $0 5.49%

    2022 saw Heartland Credit Union place emphasis on $100,000 or less loans with 177 originations, totaling $10,525,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 92 $16,430,000 $178,587 $2,229 4.61%
    $75k-100k 92 $14,890,000 $161,848 $2,309 4.62%
    $50k-75k 91 $11,215,000 $123,242 $2,181 4.73%
    $50k or less 85 $7,105,000 $83,588 $2,172 4.92%
    $150k-250k 43 $9,205,000 $214,070 $2,529 4.43%
    $250k+ 15 $4,115,000 $274,333 $2,601 4.42%

    Heartland Credit Union lent most frequently to those with incomes in the $100k-150k range, with 92 originations. The second most popular income band? $75k-100k, with 92 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 100 $15,090,000 $150,900 $2,285 4.55%
    30-36% 77 $10,575,000 $137,338 $2,177 4.52%
    <20% 35 $3,595,000 $102,714 $1,907 4.52%
    37% 21 $3,285,000 $156,429 $2,531 4.62%
    38% 20 $2,840,000 $142,000 $2,304 4.49%
    40% 18 $2,650,000 $147,222 $2,270 4.70%
    48% 15 $2,745,000 $183,000 $2,463 4.81%
    43% 15 $2,295,000 $153,000 $2,633 4.78%
    39% 14 $2,640,000 $188,571 $2,336 5.09%
    42% 13 $2,825,000 $217,308 $2,554 5.37%
    41% 13 $1,655,000 $127,308 $2,520 4.44%
    44% 11 $2,085,000 $189,545 $2,026 4.58%
    49% 11 $1,625,000 $147,727 $2,570 5.28%
    45% 10 $1,700,000 $170,000 $1,960 4.75%
    36% 9 $1,415,000 $157,222 $2,205 4.53%
    47% 8 $1,130,000 $141,250 $1,815 4.98%
    46% 7 $875,000 $125,000 $2,540 5.04%
    50-60% 7 $1,615,000 $230,714 $2,341 6.12%
    >60% 4 $590,000 $147,500 $1,639 4.94%

    Heartland Credit Union lent most frequently to those with DTI ratios of 20-30%, with 100 originations. The next most common DTI ratio? 30-36%, with 77 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 279 $41,045,000 $147,115 $2,237 4.72%
    Not provided 130 $20,180,000 $155,231 $2,302 4.57%
    Not applicable 47 $9,225,000 $196,277 $0 5.16%
    Black 6 $840,000 $140,000 $2,519 5.08%
    Asian 3 $815,000 $271,667 $2,749 4.58%
    American Indian 1 $245,000 $245,000 $2,128 4.50%

    Approval Rates

    Total approvals of all applications
    89.53%

    Heartland Credit Union has an average approval rate.

    Pick Rate

    Approvals leading to origination
    56.44%

    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 466 $72,350,000 $155,258

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    466 $72,350,000 $155,258

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 34 $2,770,000 $81,471 $1,646 5.08%
    40-60% 46 $5,630,000 $122,391 $2,157 4.30%
    60-80% 152 $26,750,000 $175,987 $2,328 4.38%
    80-100% 208 $36,110,000 $173,606 $2,489 4.94%
    Under 20% 24 $870,000 $36,250 $1,069 5.25%