Heartland Credit Union Mortgage Rates, Fees & Info

Hutchinson, KS

LEI: 549300CRPIDBSEMEY066

Tax ID: 48-0612011

Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data

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  • SimulatedRates™
  • Mortgage Calculator

    • Mortgage Data

  • Originations
  • 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 loans. Heartland Credit Union has a high proportion of conventional loans. Their top markets by origination volume include: Wichita, Hutchinson, Mcpherson, Kansas City, and Coffeyville among others. We have data for 12 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Heartland Credit Union has an above 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% 11/22/24
    30 Year Conventional Refi 6.74% 11/22/24
    30 Year Cash-out Refi 7.08% 11/22/24
    15 Year Conventional Purchase 6.08% 11/22/24
    15 Year Conventional Refi 6.38% 11/22/24
    15 Year Cash-out Refi 6.38% 11/22/24
    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

    426

    Origination Dollar Volume (All Markets)

    $45,570,000
    Show all (5) awards

    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) 155 $21,115,000 $136,226 $1,702 5.10%
    Hutchinson, KS (FHA|USDA|VA) 206 $18,490,000 $89,757 $1,551 5.07%
    Outside of Metro Areas 42 $3,690,000 $87,857 $1,925 4.96%
    McPherson, KS (FHA|USDA|VA) 8 $880,000 $110,000 $1,718 4.92%
    KANSAS CITY, MO-KS (FHA|USDA|VA) 6 $500,000 $83,333 $1,421 5.33%
    Coffeyville, KS (FHA|USDA|VA) 1 $225,000 $225,000 $1,823 4.75%
    Salina, KS (FHA|USDA|VA) 2 $210,000 $105,000 $1,430 4.94%
    Winfield, KS (FHA|USDA|VA) 1 $175,000 $175,000 $2,170 5.00%
    JOPLIN, MO (FHA|USDA|VA) 1 $125,000 $125,000 $1,870 4.75%
    TOPEKA, KS (FHA|USDA|VA) 1 $85,000 $85,000 $1,800 4.75%
    OKLAHOMA CITY, OK (FHA|USDA|VA) 2 $40,000 $20,000 $1,230 5.12%
    Atchison, KS (FHA|USDA|VA) 1 $35,000 $35,000 $1,515 5.75%
    Heartland Credit Union's top markets include Wichita, Hutchinson, Mcpherson, Kansas City, and Coffeyville among others.

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

    The Halstead Bank
    Similarity Rank: 64
    MID AMERICAN
    Similarity Rank: 128
    WHITE EAGLE Credit Union
    Similarity Rank: 130
    SKYWARD
    Similarity Rank: 132
    Members Mortgage Services, L.L.C.
    Similarity Rank: 198
    HOME BANK AND TRUST COMPANY
    Similarity Rank: 261
    GOLDEN PLAINS
    Similarity Rank: 324
    MERITRUST Federal Credit Union
    Similarity Rank: 330
    Emprise Bank
    Similarity Rank: 420
    Wichita Federal Credit Union
    Similarity Rank: 567

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 426 $45,570,000 $106,972 $1,647 5.07%

    For 2018, Heartland Credit Union's most frequently originated type of loan was Conventional, with 426 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 275 $33,265,000 $120,964 $1,727 5.01%
    Cash Out Refi 50 $4,700,000 $94,000 $1,775 5.04%
    Refi 40 $4,080,000 $102,000 $1,701 5.00%
    Home Improvement 33 $1,225,000 $37,121 $1,060 5.61%
    Other 28 $2,300,000 $82,143 $1,376 5.15%

    For 2018, Heartland Credit Union's most frequently cited loan purpose was Home Purchase, with 275 originations. The 2nd most popular reason was Cash Out Refi, with 50 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 240 $31,070,000 $129,458 $1,750 4.96%
    10 Year 60 $2,610,000 $43,500 $1,340 5.19%
    20 Year 57 $5,975,000 $104,825 $1,712 5.31%
    15 Year 47 $4,175,000 $88,830 $1,587 4.87%
    Other 11 $605,000 $55,000 $1,149 5.72%
    5 Year 7 $125,000 $17,857 $768 5.84%
    1 Year 4 $1,010,000 $252,500 $2,935 5.50%

    For 2018, Heartland Credit Union's most frequently cited loan duration was 30 Year, with 240 originations. The 2nd most popular length was 10 Year, with 60 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 370 $40,080,000 $108,324
    $1k-2k 5 $595,000 $119,000
    $2k-3k 3 $535,000 $178,333

    Heartland Credit Union's average total fees were $1,750, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 370 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    4-5% 226 $28,130,000 $124,469
    5-6% 150 $12,540,000 $83,600
    6-7% 26 $2,060,000 $79,231
    3-4% 14 $2,210,000 $157,857
    7-8% 5 $245,000 $49,000
    Over 8% 1 $115,000 $115,000

    During 2018, Heartland Credit Union's average interest rate for loans was 4.96%, while their most frequently originated rate bucket for loans was 4-5%, with 226 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 250 $13,720,000 $54,880 $1,466 5.20%
    $100k-200k 120 $17,440,000 $145,333 $1,760 4.98%
    $200k-400k 55 $13,955,000 $253,727 $2,147 4.70%
    $400k-600k 1 $455,000 $455,000 $1,807 4.63%

    2018 saw Heartland Credit Union place emphasis on $100,000 or less loans with 250 originations, totaling $13,720,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k or less 142 $10,160,000 $71,549 $1,528 5.06%
    $50k-75k 91 $9,725,000 $106,868 $1,759 5.09%
    $75k-100k 81 $9,305,000 $114,877 $1,637 5.03%
    $100k-150k 66 $9,300,000 $140,909 $1,668 4.89%
    $150k-250k 17 $3,445,000 $202,647 $1,919 5.03%
    $250k+ 4 $780,000 $195,000 $1,981 4.44%

    Heartland Credit Union lent most frequently to those with incomes in the $50k or less range, with 142 originations. The second most popular income band? $50k-75k, with 91 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 109 $9,585,000 $87,936 $1,589 4.96%
    30-36% 78 $8,670,000 $111,154 $1,666 4.97%
    <20% 43 $3,475,000 $80,814 $1,653 5.12%
    39% 18 $1,800,000 $100,000 $1,705 5.23%
    48% 17 $2,335,000 $137,353 $1,554 5.05%
    41% 16 $1,930,000 $120,625 $1,485 4.98%
    36% 13 $1,545,000 $118,846 $1,974 5.13%
    46% 13 $1,475,000 $113,462 $1,767 5.13%
    47% 12 $1,630,000 $135,833 $1,544 4.83%
    42% 11 $1,065,000 $96,818 $1,551 5.11%
    44% 11 $1,555,000 $141,364 $1,761 4.76%
    43% 10 $1,120,000 $112,000 $1,534 5.20%
    45% 10 $1,690,000 $169,000 $1,744 5.26%
    37% 10 $1,200,000 $120,000 $1,513 4.90%
    49% 10 $940,000 $94,000 $1,841 5.04%
    40% 8 $1,270,000 $158,750 $2,031 5.04%
    38% 7 $965,000 $137,857 $1,576 5.05%
    50-60% 3 $265,000 $88,333 $1,685 5.50%
    >60% 1 $145,000 $145,000 $1,910 4.88%

    Heartland Credit Union lent most frequently to those with DTI ratios of 20-30%, with 109 originations. The next most common DTI ratio? 30-36%, with 78 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 353 $37,745,000 $106,926 $1,662 5.01%
    Not provided 38 $3,810,000 $100,263 $1,503 5.05%
    Not applicable 25 $2,855,000 $114,200 $0 5.82%
    American Indian 4 $680,000 $170,000 $1,676 4.81%
    Black 5 $445,000 $89,000 $1,839 5.87%
    Asian 1 $35,000 $35,000 $1,336 6.50%

    Approval Rates

    Total approvals of all applications
    90.73%

    Heartland Credit Union has an average approval rate.

    Pick Rate

    Approvals leading to origination
    65.02%

    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 426 $45,570,000 $106,972

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Site-Built 1 $175,000 $175,000
    Single Family (1-4 Units):Manufactured 8 $550,000 $68,750
    Single Family (1-4 Units):Site-Built 417 $44,845,000 $107,542

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 24 $940,000 $39,167 $1,036 5.57%
    40-60% 39 $2,905,000 $74,487 $1,638 5.20%
    60-80% 138 $15,050,000 $109,058 $1,827 5.11%
    80-100% 207 $26,045,000 $125,821 $1,681 4.96%
    Under 20% 16 $370,000 $23,125 $845 5.20%