Sharepoint Credit Union Mortgage Rates, Fees & Info

Bloomington, MN

LEI: 549300DL0FLZ3XZV5J76

Tax ID: 41-6024250

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

Jump to:

  • 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

    Sharepoint Credit Union is a smaller credit union specializing in Cash Out Refi, Refi, and Home Purchase loans. Sharepoint Credit Union has a high proportion of conventional loans. Their top markets by origination volume include: Minneapolis, St. Cloud, Hutchinson, Brainerd, and Alexandria among others. We have data for 8 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Sharepoint 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. 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 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 6.42% 5/4/24
    30 Year Conventional Refi 5.91% 5/4/24
    30 Year Cash-out Refi 6.50% 5/4/24
    15 Year Conventional Purchase 5.73% 5/4/24
    15 Year Conventional Refi 5.85% 5/4/24
    15 Year Cash-out Refi 5.85% 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.

    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

    172

    Origination Dollar Volume (All Markets)

    $18,970,000

    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) 157 $17,445,000 $111,115 $1,323 4.93%
    ST. CLOUD, MN (FHA|USDA|VA) 2 $370,000 $185,000 $0 4.69%
    Outside of Metro Areas 5 $305,000 $61,000 $1,099 4.82%
    Hutchinson, MN (FHA|USDA|VA) 2 $260,000 $130,000 $2,171 4.44%
    Brainerd, MN (FHA|USDA|VA) 2 $240,000 $120,000 $1,742 4.31%
    Alexandria, MN (FHA|USDA|VA) 1 $235,000 $235,000 $2,856 4.00%
    MANKATO, MN (FHA|USDA|VA) 2 $90,000 $45,000 $560 4.74%
    Faribault-Northfield, MN (FHA|USDA|VA) 1 $25,000 $25,000 $244 3.99%
    Sharepoint Credit Union's top markets include Minneapolis, St. Cloud, Hutchinson, Brainerd, and Alexandria among others.

    Their top states include:
  • Minnesota (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.

    Cornerstone State Bank
    Similarity Rank: 408
    MEMBERS COOPERATIVE
    Similarity Rank: 630
    WESTconsin Credit Union
    Similarity Rank: 795
    SHAREPOINT CREDIT UNION
    Similarity Rank: 816
    South Metro Federal Credit Union
    Similarity Rank: 882
    First National Bank of Elk River
    Similarity Rank: 984
    Liberty Bank Minnesota
    Similarity Rank: 1080
    ST. CLOUD FINANCIAL
    Similarity Rank: 1150
    First State Bank and Trust
    Similarity Rank: 1162
    St. Paul Federal Credit Union
    Similarity Rank: 1197

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 172 $18,970,000 $110,291 $1,325 4.89%

    For 2018, Sharepoint Credit Union's most frequently originated type of loan was Conventional, with 172 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Cash Out Refi 75 $7,865,000 $104,867 $1,078 4.95%
    Refi 39 $4,525,000 $116,026 $1,398 4.51%
    Home Purchase 27 $5,445,000 $201,667 $3,577 4.74%
    Home Improvement 23 $815,000 $35,435 $233 5.10%
    Other 8 $320,000 $40,000 $265 6.16%

    For 2018, Sharepoint Credit Union's most frequently cited loan purpose was Cash Out Refi, with 75 originations. The 2nd most popular reason was Refi, with 39 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    10 Year 40 $2,810,000 $70,250 $311 5.53%
    15 Year 38 $4,520,000 $118,947 $1,624 5.30%
    Other 33 $3,835,000 $116,212 $873 4.32%
    5 Year 29 $945,000 $32,586 $259 4.44%
    30 Year 20 $4,510,000 $225,500 $3,540 4.53%
    20 Year 12 $2,350,000 $195,833 $3,404 4.79%

    For 2018, Sharepoint Credit Union's most frequently cited loan duration was 10 Year, with 40 originations. The 2nd most popular length was 15 Year, with 38 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 137 $12,265,000 $89,526
    $1k-2k 7 $1,075,000 $153,571
    $2k-3k 5 $1,365,000 $273,000
    $3k-4k 3 $1,075,000 $358,333
    $4k-5k 1 $425,000 $425,000
    $5k+ 1 $555,000 $555,000

    Sharepoint Credit Union's average total fees were $3,540, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 137 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    4-5% 76 $11,440,000 $150,526
    3-4% 46 $3,570,000 $77,609
    5-6% 40 $3,550,000 $88,750
    Over 8% 9 $345,000 $38,333
    6-7% 1 $65,000 $65,000

    During 2018, Sharepoint Credit Union's average interest rate for loans was 4.53%, while their most frequently originated rate bucket for loans was 4-5%, with 76 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 99 $4,315,000 $43,586 $400 5.16%
    $100k-200k 48 $7,290,000 $151,875 $2,362 4.45%
    $200k-400k 21 $5,355,000 $255,000 $2,881 4.68%
    $400k-600k 3 $1,395,000 $465,000 $6,570 4.71%
    $600k-1MM 1 $615,000 $615,000 $6,606 4.63%

    2018 saw Sharepoint Credit Union place emphasis on $100,000 or less loans with 99 originations, totaling $4,315,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 41 $3,275,000 $79,878 $919 4.82%
    $75k-100k 39 $4,465,000 $114,487 $1,266 4.90%
    $50k-75k 26 $2,500,000 $96,154 $1,295 4.48%
    $150k-250k 23 $4,145,000 $180,217 $2,133 4.90%
    $50k or less 23 $1,925,000 $83,696 $1,447 5.15%
    $250k+ 3 $785,000 $261,667 $2,383 5.37%

    Sharepoint Credit Union lent most frequently to those with incomes in the $100k-150k range, with 41 originations. The second most popular income band? $75k-100k, with 39 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 44 $4,260,000 $96,818 $1,037 4.67%
    30-36% 27 $2,545,000 $94,259 $1,307 4.92%
    <20% 25 $2,145,000 $85,800 $917 4.41%
    38% 9 $1,315,000 $146,111 $1,617 5.42%
    37% 8 $980,000 $122,500 $1,279 4.76%
    50-60% 6 $740,000 $123,333 $1,132 5.76%
    41% 6 $960,000 $160,000 $2,050 4.29%
    39% 6 $860,000 $143,333 $2,036 4.81%
    45% 6 $850,000 $141,667 $2,092 5.40%
    44% 5 $595,000 $119,000 $2,305 5.57%
    42% 3 $55,000 $18,333 $231 5.63%
    36% 3 $485,000 $161,667 $1,933 4.12%
    43% 3 $395,000 $131,667 $1,447 6.06%
    46% 2 $290,000 $145,000 $1,797 4.50%
    49% 2 $160,000 $80,000 $1,352 4.18%
    40% 2 $490,000 $245,000 $4,553 4.63%
    >60% 2 $70,000 $35,000 $454 7.22%
    48% 1 $185,000 $185,000 $0 4.13%

    Sharepoint Credit Union lent most frequently to those with DTI ratios of 20-30%, with 44 originations. The next most common DTI ratio? 30-36%, with 27 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 97 $10,205,000 $105,206 $1,265 4.74%
    Not provided 60 $6,970,000 $116,167 $1,491 5.07%
    Not applicable 13 $1,745,000 $134,231 $199 5.31%
    Asian 1 $35,000 $35,000 $149 4.99%
    Black 1 $15,000 $15,000 $149 3.99%

    Approval Rates

    Total approvals of all applications
    91.27%

    Sharepoint Credit Union has an average approval rate.

    Pick Rate

    Approvals leading to origination
    79.65%

    Sharepoint Credit Union has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 172 $18,970,000 $110,291

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Single Family (1-4 Units):Manufactured 1 $65,000 $65,000
    Single Family (1-4 Units):Site-Built 171 $18,905,000 $110,556

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 31 $2,265,000 $73,065 $663 4.60%
    40-60% 17 $2,865,000 $168,529 $2,555 4.39%
    60-80% 27 $5,255,000 $194,630 $2,847 4.42%
    80-100% 25 $5,415,000 $216,600 $2,984 4.67%
    Under 20% 64 $2,210,000 $34,531 $290 5.41%