Jordan Federal Credit Union Mortgage Rates, Fees & Info
Sandy, UTLEI: 549300DBE56TS8LE1K36
Tax ID: 87-0238380
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Mortgage Data
Review & Overview
Jordan Federal Credit Union is a smaller credit union specializing in Cash Out Refi loans. Jordan Federal Credit Union has a high proportion of conventional loans. Their top markets by origination volume include: Salt Lake City, Provo, St. George, Logan, and Heber among others. We have data for 6 markets. (Some data included below & more in-depth data is available with an active subscription.)Jordan 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. Jordan Federal 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.
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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| 30 Year Conventional Purchase | 6.27% | 5/4/24 |
| 30 Year Conventional Refi | 6.27% | 5/4/24 |
| 30 Year Cash-out Refi | 6.27% | 5/4/24 |
| 15 Year Conventional Refi | 5.68% | 5/4/24 |
| 15 Year Cash-out Refi | 5.68% | 5/4/24 |
| 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. | ||
Jordan Federal Credit Union Mortgage Calculator
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
70Origination Dollar Volume (All Markets)
$11,190,000Awards
Jordan Federal Credit Union - 2018
Jordan Federal Credit Union is a 2018 , due to their low .
For 2018, less than of lenders were eligible for this award.
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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 |
|---|---|---|---|---|---|
| SALT LAKE CITY, UT (FHA|USDA|VA) | 56 | $8,730,000 | $155,893 | $3,074 | 4.82% |
| PROVO-OREM, UT (FHA|USDA|VA) | 6 | $1,050,000 | $175,000 | $5,212 | 5.10% |
| ST. GEORGE, UT (FHA|USDA|VA) | 4 | $770,000 | $192,500 | $3,737 | 4.34% |
| Outside of Metro Areas | 2 | $270,000 | $135,000 | $3,454 | 5.25% |
| LOGAN, UT-ID (FHA|USDA|VA) | 1 | $225,000 | $225,000 | $4,554 | 4.50% |
| Heber, UT (FHA|USDA|VA) | 1 | $145,000 | $145,000 | $3,313 | 6.00% |
Similar Lenders
We use machine learning to identify the top lenders compared against Jordan Federal Credit Union based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.
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Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 62 | $10,800,000 | $174,194 | $3,298 | 4.87% |
| HELOC | 8 | $390,000 | $48,750 | n/a | 4.63% |
For 2018, Jordan Federal Credit Union's most frequently originated type of loan was Conventional, with 62 originations. Their 2nd most popular type was HELOC, with 8 originations.
Loan Reason
For 2018, Jordan Federal Credit Union's most frequently cited loan purpose was Cash Out Refi, with 34 originations. The 2nd most popular reason was Home Improvement, with 13 originations.
Loan Duration/Length
For 2018, Jordan Federal Credit Union's most frequently cited loan duration was 15 Year, with 30 originations. The 2nd most popular length was 30 Year, with 24 originations.
Origination Fees/Closing Costs
Jordan Federal Credit Union's average total fees were $4,337, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 22 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 4-5% | 46 | $7,400,000 | $160,870 |
| 5-6% | 11 | $1,865,000 | $169,545 |
| 6-7% | 7 | $355,000 | $50,714 |
| 3-4% | 6 | $1,570,000 | $261,667 |
During 2018, Jordan Federal Credit Union's average interest rate for loans was 4.59%, while their most frequently originated rate bucket for loans was 4-5%, with 46 originations.
Loan Sizing
2018 saw Jordan Federal Credit Union place emphasis on $100,000 or less loans with 28 originations, totaling $1,440,000 in origination value.
Applicant Income
Jordan Federal Credit Union lent most frequently to those with incomes in the $75k-100k range, with 22 originations. The second most popular income band? $100k-150k, with 17 originations.
Applicant Debt to Income Ratio
Jordan Federal Credit Union lent most frequently to those with DTI ratios of 30-36%, with 23 originations. The next most common DTI ratio? 20-30%, with 17 originations.
Ethnicity Mix
| Applicant Ethnicity | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Asian | 42 | $7,130,000 | $169,762 | $3,171 | 5.08% |
| White | 28 | $4,060,000 | $145,000 | $3,541 | 4.47% |
Approval Rates
Total approvals of all applications92.68%
Jordan Federal Credit Union has an average approval rate.
Pick Rate
Approvals leading to origination91.43%
Jordan Federal Credit Union has an average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 70 | $11,190,000 | $159,857 |
Occupancy Type Mix
| Dwelling Type | Originations | Total Value | Average Loan |
|---|---|---|---|
| Single Family (1-4 Units):Manufactured | 2 | $200,000 | $100,000 |
| Single Family (1-4 Units):Site-Built | 68 | $10,990,000 | $161,618 |