Sharepoint Credit Union Mortgage Rates, Fees & Info

Bloomington, MN

LEI: 549300DL0FLZ3XZV5J76

Tax ID: 41-6024250

5 stars - Updated: 5/20/24 - out of 5 stars, based on 11 reviews

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

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Mortgage Data

Review & Overview

Sharepoint Credit Union is a smaller credit union specializing in Cash Out Refi and Home Purchase loans. Sharepoint Credit Union has a high proportion of conventional loans. Their top markets by origination volume include: Minneapolis, Brainerd, North Port, and Tampa among others. We have data for 5 markets. (Some data included below & more in-depth data is available with an active subscription.)

Sharepoint 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. Sharepoint 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 relatively high 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 6.42% 5/20/24
30 Year Conventional Refi 5.91% 5/20/24
30 Year Cash-out Refi 6.50% 5/20/24
15 Year Conventional Purchase 5.73% 5/20/24
15 Year Conventional Refi 5.85% 5/20/24
15 Year Cash-out Refi 5.85% 5/20/24
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.

Sharepoint Credit Union Mortgage Calculator






Your Estimates

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

This is not an official calculator from Sharepoint 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

127

Origination Dollar Volume (All Markets)

$13,675,000

Awards

SHAREPOINT CREDIT UNION 30 Year Conventional Loans gold SHAREPOINT CREDIT UNION 30 Year Conventional Loans silver
Show all (2) awards

Relative Rate

Sharepoint Credit Union's average 30 year fixed mortgage rate was 6.91%.

The 2023 average 30 year fixed rate mortgage across all markets and lenders was 6.48%.

This yields a difference of 0.43%.

Relative Fees (Closing Costs)

Sharepoint Credit Union's average total fees/closing costs for a 30 year fixed rate mortgage were $3,212.

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 $9,089.

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
MINNEAPOLIS-ST. PAUL-BLOOMINGTON, MN-WI (FHA|USDA|VA) 117 $11,685,000 $99,872 $750 6.75%
Outside of Metro Areas 6 $850,000 $141,667 $1,526 6.31%
Brainerd, MN (FHA|USDA|VA) 2 $680,000 $340,000 $2,309 6.81%
North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) 1 $355,000 $355,000 $2,688 6.00%
TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) 1 $105,000 $105,000 $3,279 7.50%
Sharepoint Credit Union's top markets include Minneapolis, Brainerd, North Port, and Tampa among others.

Their top states include:
  • Minnesota (FHA|USDA|VA)
  • Florida (FHA|USDA|VA)
  • Wisconsin (FHA|USDA|VA)
  • Similar Lenders

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

    South Metro Federal Credit Union
    Similarity Rank: 55
    MY Credit Union
    Similarity Rank: 225
    Cornerstone State Bank
    Similarity Rank: 456
    SHAREPOINT CREDIT UNION
    Similarity Rank: 745
    Mortgages Unlimited Inc.
    Similarity Rank: 1122
    IDEAL
    Similarity Rank: 1152
    Liberty Bank Minnesota
    Similarity Rank: 1166
    ST. CLOUD FINANCIAL
    Similarity Rank: 1179
    SPIRE Credit Union
    Similarity Rank: 1254
    WESTconsin Credit Union
    Similarity Rank: 1288

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 127 $13,675,000 $107,677 $858 6.73%

    For 2023, Sharepoint Credit Union's most frequently originated type of loan was Conventional, with 127 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Cash Out Refi 45 $4,085,000 $90,778 $660 6.92%
    Home Improvement 34 $2,290,000 $67,353 $309 6.42%
    Other 19 $1,645,000 $86,579 $386 6.53%
    Home Purchase 18 $4,500,000 $250,000 $3,399 6.83%
    Refi 11 $1,155,000 $105,000 $2,009 7.06%

    For 2023, Sharepoint Credit Union's most frequently cited loan purpose was Cash Out Refi, with 45 originations. The 2nd most popular reason was Home Improvement, with 34 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    10 Year 47 $2,925,000 $62,234 $292 6.67%
    15 Year 31 $3,095,000 $99,839 $582 7.12%
    Other 19 $1,665,000 $87,632 $523 6.36%
    30 Year 18 $5,260,000 $292,222 $3,212 6.91%
    5 Year 11 $415,000 $37,727 $161 6.13%
    3 Year 1 $315,000 $315,000 $0 7.50%

    For 2023, Sharepoint Credit Union's most frequently cited loan duration was 10 Year, with 47 originations. The 2nd most popular length was 15 Year, with 31 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 114 $12,250,000 $107,456

    Sharepoint Credit Union's average total fees were $3,212, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 114 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    6-7% 65 $7,225,000 $111,154
    5-6% 34 $2,770,000 $81,471
    7-8% 21 $2,875,000 $136,905
    Over 8% 7 $805,000 $115,000

    During 2023, Sharepoint Credit Union's average interest rate for loans was 6.91%, while their most frequently originated rate bucket for loans was 6-7%, with 65 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 87 $4,595,000 $52,816 $391 6.70%
    $100k-200k 21 $2,675,000 $127,381 $1,151 6.68%
    $200k-400k 15 $4,245,000 $283,000 $2,162 7.05%
    $400k-600k 2 $890,000 $445,000 $3,942 6.25%
    $600k-1MM 2 $1,270,000 $635,000 $4,198 6.44%

    2023 saw Sharepoint Credit Union place emphasis on $100,000 or less loans with 87 originations, totaling $4,595,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $150k-250k 28 $4,400,000 $157,143 $1,028 6.88%
    $75k-100k 24 $2,370,000 $98,750 $785 6.74%
    $100k-150k 22 $1,740,000 $79,091 $582 6.67%
    $50k-75k 21 $1,325,000 $63,095 $672 6.66%
    $50k or less 9 $475,000 $52,778 $1,052 6.54%
    $250k+ 8 $1,390,000 $173,750 $823 6.44%

    Sharepoint Credit Union lent most frequently to those with incomes in the $150k-250k range, with 28 originations. The second most popular income band? $75k-100k, with 24 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    30-36% 35 $3,455,000 $98,714 $658 6.61%
    20-30% 25 $2,365,000 $94,600 $1,010 6.85%
    <20% 11 $985,000 $89,545 $517 6.33%
    37% 5 $535,000 $107,000 $1,124 6.79%
    36% 5 $315,000 $63,000 $336 6.74%
    40% 5 $1,665,000 $333,000 $1,961 6.54%
    44% 4 $560,000 $140,000 $1,622 7.75%
    47% 4 $170,000 $42,500 $300 6.18%
    42% 4 $200,000 $50,000 $330 7.18%
    41% 3 $305,000 $101,667 $432 6.32%
    38% 3 $325,000 $108,333 $1,541 6.24%
    39% 3 $475,000 $158,333 $1,272 7.83%
    46% 2 $410,000 $205,000 $1,923 6.56%
    50-60% 2 $60,000 $30,000 $319 6.24%
    45% 1 $35,000 $35,000 $159 6.99%
    43% 1 $95,000 $95,000 $429 6.49%
    48% 1 $295,000 $295,000 $2,910 7.13%

    Sharepoint Credit Union lent most frequently to those with DTI ratios of 30-36%, with 35 originations. The next most common DTI ratio? 20-30%, with 25 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 92 $9,320,000 $101,304 $856 6.71%
    Not provided 17 $2,605,000 $153,235 $1,023 6.59%
    Not applicable 13 $1,425,000 $109,615 $0 6.92%
    Asian 4 $290,000 $72,500 $307 6.37%
    Black 1 $35,000 $35,000 $429 9.74%

    Approval Rates

    Total approvals of all applications
    85.71%

    Sharepoint Credit Union has an average approval rate.

    Pick Rate

    Approvals leading to origination
    70.08%

    Sharepoint Credit Union has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 127 $13,675,000 $107,677

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    127 $13,675,000 $107,677

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 33 $3,765,000 $114,091 $893 6.90%
    40-60% 4 $750,000 $187,500 $1,713 7.25%
    60-80% 20 $3,600,000 $180,000 $3,073 6.94%
    80-100% 5 $2,315,000 $463,000 $3,936 6.85%
    Under 20% 64 $3,150,000 $49,219 $269 6.53%