Indiana University Credit Union Mortgage Rates, Fees & Info

Bloomington, IN

LEI: 549300F175WFRUKLMG10

Tax ID: 35-0987917

5 stars - Updated: 9/25/23 - out of 5 stars, based on 32 reviews

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

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  • SimulatedRates™
  • Mortgage Calculator

    • Mortgage Data

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

    Indiana University Credit Union is a smaller credit union specializing in Home Purchase and Refi loans. Indiana University Credit Union has a high proportion of conventional loans. Their top markets by origination volume include: Bloomington, Indianapolis, Madison, Fort Wayne, and Bedford among others. We have data for 19 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Indiana University 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. Indiana University 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.

    Mortgage professionals: We have various tools to make your lives easier. Contact us to see how we can help with your market research, analytics or advertising needs.

    SimulatedRates™

    Mortgage Type     		Simulated Rate Simulation Date
    Home Equity Line of Credit (HELOC) 6.27% 9/25/23
    30 Year Conventional Purchase 6.63% 9/25/23
    30 Year Conventional Refi 6.70% 9/25/23
    30 Year Cash-out Refi 6.60% 9/25/23
    15 Year Conventional Purchase 6.17% 9/25/23
    15 Year Conventional Refi 6.49% 9/25/23
    15 Year Cash-out Refi 6.49% 9/25/23
    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.

    Indiana University Credit Union Mortgage Calculator






    Your Estimates

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

    This is not an official calculator from Indiana University 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

    1,006

    Origination Dollar Volume (All Markets)

    $216,390,000
    Show all (5) awards

    Relative Rate

    Indiana University Credit Union's average 30 year fixed mortgage rate was 4.71%.

    The 2022 average 30 year fixed rate mortgage across all markets and lenders was 4.76%.

    This yields a difference of -0.05%.

    Relative Fees (Closing Costs)

    Indiana University Credit Union's average total fees/closing costs for a 30 year fixed rate mortgage were $1,903.

    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 $4,750.

    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
    BLOOMINGTON, IN (FHA|USDA|VA) 639 $127,705,000 $199,851 $1,494 4.74%
    INDIANAPOLIS-CARMEL-ANDERSON, IN (FHA|USDA|VA) 197 $52,765,000 $267,843 $1,528 4.95%
    Madison, IN (FHA|USDA|VA) 9 $7,125,000 $791,667 $0 4.34%
    FORT WAYNE, IN (FHA|USDA|VA) 11 $6,785,000 $616,818 $676 5.01%
    Bedford, IN (FHA|USDA|VA) 45 $5,815,000 $129,222 $1,204 4.71%
    Outside of Metro Areas 44 $5,090,000 $115,682 $1,309 5.16%
    EVANSVILLE, IN-KY (FHA|USDA|VA) 4 $3,110,000 $777,500 $1,893 4.34%
    COLUMBUS, IN (FHA|USDA|VA) 8 $1,910,000 $238,750 $1,704 4.58%
    TERRE HAUTE, IN (FHA|USDA|VA) 16 $1,590,000 $99,375 $1,576 4.87%
    Chicago-Naperville-Elgin, IL-IN-WI (FHA|USDA|VA) 13 $1,385,000 $106,538 $840 4.65%
    LOUISVILLE, KY (FHA|USDA|VA) 6 $1,210,000 $201,667 $724 4.81%
    SOUTH BEND-MISHAWAKA, IN-MI (FHA|USDA|VA) 5 $505,000 $101,000 $848 5.43%
    Seymour, IN (FHA|USDA|VA) 3 $385,000 $128,333 $1,776 4.96%
    Scottsburg, IN (FHA|USDA|VA) 1 $325,000 $325,000 $1,671 5.38%
    MUNCIE, IN (FHA|USDA|VA) 1 $275,000 $275,000 $2,394 3.38%
    Greensburg, IN (FHA|USDA|VA) 1 $195,000 $195,000 $3,011 4.25%
    ELKHART-GOSHEN, IN (FHA|USDA|VA) 1 $75,000 $75,000 $0 4.25%
    Decatur, IN (FHA|USDA|VA) 1 $75,000 $75,000 $0 4.35%
    Washington, IN (FHA|USDA|VA) 1 $65,000 $65,000 $0 5.75%
    Indiana University Credit Union's top markets include Bloomington, Indianapolis, Madison, Fort Wayne, and Bedford among others.

    Their top states include:
  • Indiana (FHA|USDA|VA)

    • Similar Lenders

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

    Mutual Savings Bank
    Similarity Rank: 176
    The Riddell National Bank
    Similarity Rank: 378
    Independent Federal Credit Union
    Similarity Rank: 420
    MORTGAGE MASTERS OF INDIANA, INC.
    Similarity Rank: 540
    Madison County Federal Credit Union
    Similarity Rank: 672
    OCEANSIDE MORTGAGE COMPANY
    Similarity Rank: 700
    The Peoples State Bank
    Similarity Rank: 1000
    LOANFLIGHT LENDING, LLC
    Similarity Rank: 1014
    INDIANA UNIVERSITY CREDIT UNION
    Similarity Rank: 1919
    FORUM Credit Union
    Similarity Rank: 2220

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 746 $193,290,000 $259,102 $1,460 4.87%
    HELOC 260 $23,100,000 $88,846 n/a 4.58%

    For 2022, Indiana University Credit Union's most frequently originated type of loan was Conventional, with 746 originations. Their 2nd most popular type was HELOC, with 260 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 347 $102,705,000 $295,980 $1,855 4.83%
    Cash Out Refi 304 $31,120,000 $102,368 $1,013 4.91%
    Refi 209 $71,535,000 $342,273 $1,572 4.65%
    Home Improvement 146 $11,030,000 $75,548 $723 4.69%

    For 2022, Indiana University Credit Union's most frequently cited loan purpose was Home Purchase, with 347 originations. The 2nd most popular reason was Cash Out Refi, with 304 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    15 Year 538 $109,510,000 $203,550 $885 4.83%
    30 Year 292 $69,610,000 $238,390 $1,903 4.71%
    10 Year 62 $7,690,000 $124,032 $468 5.14%
    5 Year 35 $3,425,000 $97,857 $170 4.82%
    20 Year 34 $6,550,000 $192,647 $1,867 4.00%
    1 Year 26 $5,330,000 $205,000 $0 5.27%
    Other 13 $11,425,000 $878,846 $0 4.92%
    30+ year 4 $2,470,000 $617,500 $6,448 4.44%
    3 Year 2 $380,000 $190,000 $0 4.38%

    For 2022, Indiana University Credit Union's most frequently cited loan duration was 15 Year, with 538 originations. The 2nd most popular length was 30 Year, with 292 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 509 $90,065,000 $176,945
    $1k-2k 16 $4,650,000 $290,625
    $2k-3k 5 $2,015,000 $403,000
    $3k-4k 1 $745,000 $745,000
    $4k-5k 1 $795,000 $795,000

    Indiana University Credit Union's average total fees were $1,903, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 509 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    3-4% 309 $70,815,000 $229,175
    4-5% 276 $66,150,000 $239,674
    5-6% 239 $45,865,000 $191,904
    6-7% 131 $27,405,000 $209,198
    2.5-3% 22 $4,150,000 $188,636
    7-8% 16 $1,010,000 $63,125
    <2.5% 7 $845,000 $120,714
    Over 8% 6 $150,000 $25,000

    During 2022, Indiana University Credit Union's average interest rate for loans was 4.71%, while their most frequently originated rate bucket for loans was 3-4%, with 309 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 408 $21,950,000 $53,799 $559 4.95%
    $100k-200k 272 $38,650,000 $142,096 $1,691 4.70%
    $200k-400k 242 $66,680,000 $275,537 $1,916 4.66%
    $400k-600k 54 $25,350,000 $469,444 $2,370 4.85%
    $1MM+ 15 $52,545,000 $3,503,000 $0 4.63%
    $600k-1MM 15 $11,215,000 $747,667 $4,000 4.76%

    2022 saw Indiana University Credit Union place emphasis on $100,000 or less loans with 408 originations, totaling $21,950,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 187 $21,865,000 $116,925 $1,291 4.70%
    $100k-150k 180 $28,900,000 $160,556 $1,551 4.66%
    $75k-100k 130 $18,240,000 $140,308 $1,496 4.85%
    $150k-250k 129 $29,235,000 $226,628 $1,494 4.74%
    $50k or less 127 $11,525,000 $90,748 $1,324 4.85%
    $250k+ 34 $10,130,000 $297,941 $2,424 4.52%

    Indiana University Credit Union lent most frequently to those with incomes in the $50k-75k range, with 187 originations. The second most popular income band? $100k-150k, with 180 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 219 $32,125,000 $146,689 $1,415 4.68%
    30-36% 172 $25,700,000 $149,419 $1,459 4.72%
    <20% 115 $13,875,000 $120,652 $1,367 4.53%
    37% 33 $6,055,000 $183,485 $1,580 4.58%
    38% 30 $4,740,000 $158,000 $1,382 5.17%
    41% 24 $3,350,000 $139,583 $1,457 4.83%
    42% 23 $3,185,000 $138,478 $1,568 4.73%
    40% 20 $2,490,000 $124,500 $1,652 4.50%
    36% 19 $2,805,000 $147,632 $1,578 4.60%
    43% 19 $2,995,000 $157,632 $1,511 5.09%
    45% 18 $3,370,000 $187,222 $1,566 4.94%
    50-60% 17 $2,405,000 $141,471 $1,204 5.13%
    39% 17 $2,825,000 $166,176 $1,704 4.93%
    >60% 15 $4,245,000 $283,000 $1,883 4.96%
    47% 15 $2,735,000 $182,333 $1,239 5.12%
    44% 14 $2,080,000 $148,571 $1,599 5.10%
    46% 11 $2,565,000 $233,182 $1,731 5.01%
    49% 9 $1,995,000 $221,667 $1,702 4.25%
    48% 8 $2,120,000 $265,000 $1,837 4.19%

    Indiana University Credit Union lent most frequently to those with DTI ratios of 20-30%, with 219 originations. The next most common DTI ratio? 30-36%, with 172 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 691 $104,405,000 $151,093 $1,443 4.75%
    Not applicable 202 $92,140,000 $456,139 $0 5.07%
    Not provided 66 $10,120,000 $153,333 $1,582 4.46%
    Asian 22 $5,980,000 $271,818 $1,903 4.41%
    Black 17 $1,725,000 $101,471 $961 5.12%
    Other Asian 2 $520,000 $260,000 $1,714 5.13%
    Native Hawaiian or Islander 1 $475,000 $475,000 $1,927 5.25%
    Chinese 2 $450,000 $225,000 $1,980 4.06%
    Asian Indian 1 $375,000 $375,000 $2,021 4.88%
    American Indian 2 $200,000 $100,000 $911 5.56%

    Approval Rates

    Total approvals of all applications
    83.49%

    Indiana University Credit Union has a below average approval rate.

    Pick Rate

    Approvals leading to origination
    82.41%

    Indiana University Credit Union has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 1,006 $216,390,000 $215,099

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    1,006 $216,390,000 $215,099

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 190 $17,090,000 $89,947 $773 4.75%
    40-60% 111 $26,505,000 $238,784 $1,522 4.54%
    60-80% 331 $110,205,000 $332,946 $2,001 4.77%
    80-100% 160 $43,430,000 $271,438 $1,836 4.75%
    Under 20% 207 $12,005,000 $57,995 $263 5.11%

    Complaints

    Bank Name Product Issue 2022 CPFB Complaints % of Total Issues
    INDIANAPOLIS NEIGHBORHOOD HOUSING PARTNERSHIP Conventional home mortgage Struggling to pay mortgage 1 100.0%