First Nebraska Credit Union Mortgage Rates, Fees & Info

Omaha, NE

LEI: 549300E45E0GS21KWF28

Tax ID: 47-0524996

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

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Mortgage Data

  • Originations
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • Complaints
  • 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

    First Nebraska Credit Union is a smaller credit union specializing in Cash Out Refi and Home Purchase loans. First Nebraska Credit Union has a high proportion of conventional loans. Their top markets by origination volume include: Omaha, Lincoln, Faribault, Beatrice, and Fremont among others. We have data for 6 markets. (Some data included below & more in-depth data is available with an active subscription.)

    First Nebraska 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. First Nebraska 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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    Originations

    182

    Origination Dollar Volume (All Markets)

    $13,210,000

    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
    OMAHA-COUNCIL BLUFFS, NE-IA (FHA|USDA|VA) 140 $9,760,000 $69,714 $1,295 6.14%
    LINCOLN, NE (FHA|USDA|VA) 37 $3,015,000 $81,486 $1,132 5.15%
    Faribault-Northfield, MN (FHA|USDA|VA) 1 $205,000 $205,000 $5,707 4.38%
    Beatrice, NE (FHA|USDA|VA) 1 $125,000 $125,000 $2,041 5.38%
    Outside of Metro Areas 2 $70,000 $35,000 $1,416 4.26%
    Fremont, NE (FHA|USDA|VA) 1 $35,000 $35,000 $868 5.74%
    First Nebraska Credit Union's top markets include Omaha, Lincoln, Faribault, Beatrice, and Fremont among others.

    Their top states include:
  • Nebraska (FHA|USDA|VA)
  • Iowa (FHA|USDA|VA)
  • Minnesota (FHA|USDA|VA)

    • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 182 $13,210,000 $72,582 $1,289 5.90%

    For 2019, First Nebraska Credit Union's most frequently originated type of loan was Conventional, with 182 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Other 62 $2,090,000 $33,710 $597 7.25%
    Cash Out Refi 42 $4,840,000 $115,238 $2,035 5.16%
    Home Improvement 36 $1,350,000 $37,500 $566 5.75%
    Home Purchase 25 $3,385,000 $135,400 $2,847 4.43%
    Refi 17 $1,545,000 $90,882 $1,306 5.27%

    For 2019, First Nebraska Credit Union's most frequently cited loan purpose was Other, with 62 originations. The 2nd most popular reason was Cash Out Refi, with 42 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    5 Year 50 $1,440,000 $28,800 $478 5.78%
    15 Year 41 $4,735,000 $115,488 $2,056 5.52%
    Other 33 $1,305,000 $39,545 $536 6.87%
    10 Year 24 $1,070,000 $44,583 $751 6.91%
    20 Year 16 $2,160,000 $135,000 $2,057 4.55%
    30 Year 15 $2,405,000 $160,333 $3,793 4.43%
    3 Year 3 $95,000 $31,667 $588 8.83%

    For 2019, First Nebraska Credit Union's most frequently cited loan duration was 5 Year, with 50 originations. The 2nd most popular length was 15 Year, with 41 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 131 $6,015,000 $45,916
    $1k-2k 47 $6,565,000 $139,681
    $4k-5k 2 $400,000 $200,000
    $3k-4k 1 $105,000 $105,000

    First Nebraska Credit Union's average total fees were $3,793, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 131 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    4-5% 56 $5,660,000 $101,071
    3-4% 41 $4,005,000 $97,683
    Over 8% 34 $1,120,000 $32,941
    5-6% 27 $1,255,000 $46,481
    7-8% 13 $565,000 $43,462
    6-7% 11 $605,000 $55,000

    During 2019, First Nebraska Credit Union's average interest rate for loans was 4.43%, while their most frequently originated rate bucket for loans was 4-5%, with 56 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 130 $4,960,000 $38,154 $684 6.49%
    $100k-200k 44 $6,170,000 $140,227 $2,823 4.48%
    $200k-400k 8 $2,080,000 $260,000 $2,890 4.16%

    2019 saw First Nebraska Credit Union place emphasis on $100,000 or less loans with 130 originations, totaling $4,960,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 44 $3,770,000 $85,682 $1,139 6.15%
    $50k-75k 44 $2,410,000 $54,773 $1,074 6.12%
    $75k-100k 37 $2,625,000 $70,946 $1,191 5.89%
    $50k or less 33 $2,105,000 $63,788 $2,038 5.33%
    $150k-250k 22 $2,120,000 $96,364 $1,106 5.96%

    First Nebraska Credit Union lent most frequently to those with incomes in the $100k-150k range, with 44 originations. The second most popular income band? $50k-75k, with 44 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 47 $3,165,000 $67,340 $1,210 5.36%
    <20% 38 $2,340,000 $61,579 $871 5.36%
    30-36% 30 $2,050,000 $68,333 $1,277 5.87%
    36% 9 $815,000 $90,556 $1,009 6.19%
    39% 8 $580,000 $72,500 $1,062 6.64%
    37% 8 $920,000 $115,000 $1,757 6.42%
    38% 5 $385,000 $77,000 $4,332 6.42%
    40% 5 $275,000 $55,000 $941 7.80%
    46% 5 $225,000 $45,000 $901 5.74%
    50-60% 4 $290,000 $72,500 $865 7.71%
    41% 4 $400,000 $100,000 $2,430 7.62%
    44% 4 $340,000 $85,000 $1,720 6.12%
    45% 3 $105,000 $35,000 $605 11.07%
    48% 3 $305,000 $101,667 $2,251 6.21%
    43% 2 $260,000 $130,000 $1,774 5.50%
    42% 2 $40,000 $20,000 $660 3.91%
    47% 1 $55,000 $55,000 $2,354 4.75%
    49% 1 $265,000 $265,000 $3,395 3.88%

    First Nebraska Credit Union lent most frequently to those with DTI ratios of 20-30%, with 47 originations. The next most common DTI ratio? <20%, with 38 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 139 $10,415,000 $74,928 $1,320 5.68%
    Not provided 31 $2,045,000 $65,968 $1,118 6.14%
    Black 11 $735,000 $66,818 $1,445 7.92%
    American Indian 1 $15,000 $15,000 $478 7.24%

    Approval Rates

    Total approvals of all applications
    86.41%

    First Nebraska Credit Union has an average approval rate.

    Pick Rate

    Approvals leading to origination
    67.03%

    First Nebraska 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 182 $13,210,000 $72,582

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Single Family (1-4 Units):Site-Built 182 $13,210,000 $72,582

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 37 $1,775,000 $47,973 $647 6.96%
    40-60% 15 $1,575,000 $105,000 $1,326 4.70%
    60-80% 28 $4,210,000 $150,357 $2,629 4.58%
    80-100% 26 $3,620,000 $139,231 $2,983 4.58%
    Under 20% 76 $2,030,000 $26,711 $522 6.56%

    Complaints

    Bank Name Product Issue 2019 CPFB Complaints % of Total Issues
    First Technology Federal Credit Union Conventional home mortgage Trouble during payment process 4 57.1%
    First Technology Federal Credit Union Other type of mortgage Applying for a mortgage or refinancing an existing mortgage 1 14.3%
    First Technology Federal Credit Union Conventional home mortgage Applying for a mortgage or refinancing an existing mortgage 1 14.3%
    First Technology Federal Credit Union Home equity loan or line of credit (HELOC) Trouble during payment process 1 14.3%