Vantage Credit Union Mortgage Rates, Fees & Info

Bridgeton, MO

LEI: 549300E06ZGS1I3URI95

Tax ID: 43-0739854

5 stars - Updated: 5/20/24 - out of 5 stars, based on 26 reviews

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

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Mortgage Data

Review & Overview

Vantage Credit Union is a smaller credit union specializing in Home Improvement and Home Purchase loans. Vantage Credit Union has a high proportion of conventional loans. Their top markets by origination volume include: St. Louis, Kansas City, Branson, Farmington, and Jefferson City among others. We have data for 7 markets. (Some data included below & more in-depth data is available with an active subscription.)

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

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Originations

701

Origination Dollar Volume (All Markets)

$89,665,000

Awards

VANTAGE Credit Union 30 Year Conventional Loans bronze VANTAGE Credit Union 30 Year Conventional Loans gold VANTAGE Credit Union 30 Year Conventional Loans gold
Show all (3) awards

Relative Rate

Vantage Credit Union's average 30 year fixed mortgage rate was 5.97%.

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

This yields a difference of -0.51%.

Relative Fees (Closing Costs)

Vantage Credit Union's average total fees/closing costs for a 30 year fixed rate mortgage were $3,561.

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
ST. LOUIS, MO-IL (FHA|USDA|VA) 679 $86,555,000 $127,474 $1,429 7.46%
KANSAS CITY, MO-KS (FHA|USDA|VA) 2 $1,090,000 $545,000 $3,112 6.00%
Outside of Metro Areas 8 $920,000 $115,000 $1,531 7.13%
Branson, MO (FHA|USDA|VA) 2 $440,000 $220,000 $3,362 6.38%
Farmington, MO (FHA|USDA|VA) 8 $400,000 $50,000 $0 8.44%
JEFFERSON CITY, MO (FHA|USDA|VA) 1 $215,000 $215,000 $2,975 5.38%
Mexico, MO (FHA|USDA|VA) 1 $45,000 $45,000 $0 9.25%
Vantage Credit Union's top markets include St. Louis, Kansas City, Branson, Farmington, and Jefferson City among others.

Their top states include:
  • Missouri (FHA|USDA|VA)
  • Illinois (FHA|USDA|VA)
  • Similar Lenders

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

    1ST MIDAMERICA
    Similarity Rank: 286
    CNB Bank And Trust, N.A.
    Similarity Rank: 323
    FIRST COMMUNITY
    Similarity Rank: 336
    First National Bank of Waterloo
    Similarity Rank: 340
    United Bank of Union
    Similarity Rank: 360
    VANTAGE Credit Union
    Similarity Rank: 371
    Bank of Hillsboro
    Similarity Rank: 459
    ALLIANCE CREDIT UNION
    Similarity Rank: 520
    ALLTRU Federal Credit Union
    Similarity Rank: 573

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 428 $67,290,000 $157,220 $1,438 7.17%
    HELOC 273 $22,375,000 $81,960 n/a 7.91%

    For 2023, Vantage Credit Union's most frequently originated type of loan was Conventional, with 428 originations. Their 2nd most popular type was HELOC, with 273 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Improvement 293 $18,925,000 $64,590 $0 7.83%
    Other 167 $11,115,000 $66,557 $0 8.14%
    Home Purchase 137 $45,715,000 $333,686 $3,721 5.98%
    Refi 76 $8,530,000 $112,237 $285 7.80%
    Cash Out Refi 28 $5,380,000 $192,143 $2,754 5.91%

    For 2023, Vantage Credit Union's most frequently cited loan purpose was Home Improvement, with 293 originations. The 2nd most popular reason was Other, with 167 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    15 Year 453 $35,195,000 $77,693 $133 7.97%
    30 Year 159 $49,875,000 $313,679 $3,561 5.97%
    Other 59 $2,755,000 $46,695 $51 7.34%
    10 Year 22 $1,340,000 $60,909 $133 7.91%
    5 Year 4 $160,000 $40,000 $0 7.94%
    3 Year 3 $55,000 $18,333 $0 7.75%
    20 Year 1 $285,000 $285,000 $3,678 6.63%

    For 2023, Vantage Credit Union's most frequently cited loan duration was 15 Year, with 453 originations. The 2nd most popular length was 30 Year, with 159 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 247 $14,335,000 $58,036
    $1k-2k 156 $49,480,000 $317,179
    $2k-3k 10 $1,790,000 $179,000
    $4k-5k 2 $660,000 $330,000
    $3k-4k 1 $275,000 $275,000

    Vantage Credit Union's average total fees were $3,561, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 247 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    7-8% 270 $20,580,000 $76,222
    Over 8% 214 $13,980,000 $65,327
    5-6% 119 $29,875,000 $251,050
    6-7% 85 $18,675,000 $219,706
    4-5% 13 $6,555,000 $504,231

    During 2023, Vantage Credit Union's average interest rate for loans was 5.97%, while their most frequently originated rate bucket for loans was 7-8%, with 270 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 455 $23,415,000 $51,462 $119 7.94%
    $100k-200k 108 $14,820,000 $137,222 $2,532 7.12%
    $200k-400k 88 $23,780,000 $270,227 $3,349 6.38%
    $400k-600k 32 $15,710,000 $490,938 $3,662 5.76%
    $600k-1MM 18 $11,940,000 $663,333 $3,932 5.69%

    2023 saw Vantage Credit Union place emphasis on $100,000 or less loans with 455 originations, totaling $23,415,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 226 $32,320,000 $143,009 $1,491 7.42%
    $150k-250k 177 $24,935,000 $140,876 $1,302 7.59%
    $75k-100k 106 $10,240,000 $96,604 $1,358 7.48%
    $50k-75k 97 $7,845,000 $80,876 $1,594 7.36%
    $250k+ 44 $10,900,000 $247,727 $1,716 7.58%
    $50k or less 44 $2,930,000 $66,591 $1,480 7.13%

    Vantage Credit Union lent most frequently to those with incomes in the $100k-150k range, with 226 originations. The second most popular income band? $150k-250k, with 177 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 202 $20,080,000 $99,406 $1,066 7.62%
    30-36% 158 $18,950,000 $119,937 $1,338 7.57%
    <20% 82 $7,500,000 $91,463 $815 7.57%
    41% 37 $4,135,000 $111,757 $684 7.71%
    36% 27 $4,015,000 $148,704 $1,821 7.22%
    40% 27 $4,775,000 $176,852 $1,681 7.46%
    37% 27 $3,105,000 $115,000 $2,070 7.56%
    44% 23 $3,765,000 $163,696 $1,454 7.29%
    38% 23 $2,365,000 $102,826 $1,814 7.18%
    39% 18 $2,810,000 $156,111 $1,082 7.47%
    43% 16 $2,810,000 $175,625 $1,741 7.32%
    42% 13 $3,205,000 $246,538 $2,324 6.76%
    46% 11 $1,975,000 $179,545 $1,801 6.58%
    45% 11 $3,175,000 $288,636 $2,991 6.51%
    47% 10 $2,420,000 $242,000 $2,062 6.69%
    49% 7 $2,025,000 $289,286 $3,127 5.93%
    48% 6 $1,790,000 $298,333 $2,844 6.52%
    50-60% 2 $730,000 $365,000 $2,962 7.31%
    >60% 1 $35,000 $35,000 $0 8.25%

    Vantage Credit Union lent most frequently to those with DTI ratios of 20-30%, with 202 originations. The next most common DTI ratio? 30-36%, with 158 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 503 $53,935,000 $107,227 $1,138 7.57%
    Asian 25 $10,985,000 $439,400 $3,794 5.82%
    Not provided 78 $9,430,000 $120,897 $1,635 7.46%
    Asian Indian 16 $8,340,000 $521,250 $3,526 5.38%
    Black 76 $6,490,000 $85,395 $1,316 7.78%
    Other Asian 2 $460,000 $230,000 $1,481 6.00%
    American Indian 1 $25,000 $25,000 $0 7.75%

    Approval Rates

    Total approvals of all applications
    72.32%

    Vantage Credit Union has a below average approval rate.

    Pick Rate

    Approvals leading to origination
    94.01%

    Vantage Credit Union has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 701 $89,665,000 $127,910

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    701 $89,665,000 $127,910

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 180 $15,690,000 $87,167 $288 7.90%
    40-60% 58 $10,760,000 $185,517 $2,711 7.11%
    60-80% 42 $13,320,000 $317,143 $3,530 6.20%
    80-100% 103 $34,785,000 $337,718 $3,558 6.00%
    Under 20% 318 $15,110,000 $47,516 $25 7.92%