Indiana University Credit Union Mortgage Rates, Fees & Info
Bloomington, INLEI: 549300F175WFRUKLMG10
Tax ID: 35-0987917
2021 Data | 2020 Data | 2019 Data | 2018 Data
Jump to:
Mortgage Data
Overview
Indiana University Credit Union is a smaller credit union specializing in Cash Out Refi, Home Purchase, and Refi loans. Indiana University Credit Union has a high proportion of conventional loans. Their top markets include Bloomington, Indianapolis, Bedford, Muncie, and Fort Wayne among others. Indiana University Credit Union has an average approval rate for mortages when compared nationally. They have a below average pick rate when compared to the same sample of other lendors. Indiana University Credit Union is typically a low fee lendor.Originations
918Origination Dollar Volume (All Markets)
$204,740,000Relative Rate
Indiana University Credit Union's average 30 year fixed rate mortgage of loans were
3.11%.
The 2021 average 30 year fixed rate mortgage across all markets of loans were 3.15%.
This yields a difference of -0.04%.
Relative Fees
Indiana University Credit Union's average total fees for a 30 year fixed rate
mortgage are $2,002.
The average total origination fees for 30 year fixed rate mortgages (for all loan values, including
both points & up-front fees in addition to origination fees) are $4,750.
Top Markets
Market | Originations | Total Value | Average Loan | Average Fees | Average Rate |
---|---|---|---|---|---|
BLOOMINGTON, IN (FHA|USDA|VA) | 638 | $143,490,000 | $224,906 | $1,737 | 3.36% |
INDIANAPOLIS-CARMEL-ANDERSON, IN (FHA|USDA|VA) | 144 | $33,610,000 | $233,403 | $1,708 | 3.68% |
Bedford, IN (FHA|USDA|VA) | 32 | $6,060,000 | $189,375 | $1,233 | 3.68% |
Outside of Metro Areas | 39 | $5,725,000 | $146,795 | $1,567 | 3.31% |
MUNCIE, IN (FHA|USDA|VA) | 1 | $4,595,000 | $4,595,000 | $0 | 3.65% |
FORT WAYNE, IN (FHA|USDA|VA) | 19 | $2,695,000 | $141,842 | $1,298 | 3.24% |
Chicago-Naperville-Elgin, IL-IN-WI (FHA|USDA|VA) | 16 | $2,510,000 | $156,875 | $1,567 | 3.69% |
COLUMBUS, IN (FHA|USDA|VA) | 7 | $2,135,000 | $305,000 | $803 | 4.21% |
TERRE HAUTE, IN (FHA|USDA|VA) | 6 | $860,000 | $143,333 | $1,685 | 3.67% |
KOKOMO, IN (FHA|USDA|VA) | 2 | $830,000 | $415,000 | $0 | 4.13% |
LOUISVILLE/JEFFERSON COUNTY, KY-IN (FHA|USDA|VA) | 3 | $565,000 | $188,333 | $2,273 | 3.88% |
Seymour, IN (FHA|USDA|VA) | 2 | $390,000 | $195,000 | $3,682 | 3.13% |
LAFAYETTE-WEST LAFAYETTE, IN (FHA|USDA|VA) | 1 | $345,000 | $345,000 | $2,130 | 2.75% |
SOUTH BEND-MISHAWAKA, IN-MI (FHA|USDA|VA) | 2 | $240,000 | $120,000 | $1,410 | 3.63% |
MICHIGAN CITY-LA PORTE, IN (FHA|USDA|VA) | 1 | $175,000 | $175,000 | $1,814 | 3.00% |
Auburn, IN (FHA|USDA|VA) | 2 | $170,000 | $85,000 | $833 | 3.93% |
Scottsburg, IN (FHA|USDA|VA) | 1 | $165,000 | $165,000 | $0 | 4.25% |
Angola, IN (FHA|USDA|VA) | 1 | $125,000 | $125,000 | $1,598 | 3.13% |
Decatur, IN (FHA|USDA|VA) | 1 | $55,000 | $55,000 | $0 | 4.10% |
Indiana University Credit Union's top markets include Bloomington, Indianapolis, Bedford, Muncie, and Fort Wayne among others.
Product Mix
Loan Type | Originations | Total Value | Average Loan | Average Fees | Average Rate |
---|---|---|---|---|---|
Conventional | 918 | $204,740,000 | $223,028 | $1,693 | 3.44% |
For the 2021 period, Indiana University Credit Union's most frequently originated loan type of loans were Conventional, with 918 originations.
Loan Reason
Loan Reason | Originations | Total Value | Average Loan | Average Fees | Average Rate |
---|---|---|---|---|---|
Cash Out Refi | 377 | $62,085,000 | $164,682 | $1,540 | 3.61% |
Home Purchase | 280 | $85,380,000 | $304,929 | $1,914 | 3.23% |
Refi | 229 | $53,755,000 | $234,738 | $1,805 | 3.37% |
Home Improvement | 22 | $2,620,000 | $119,091 | $1,346 | 3.48% |
Other | 10 | $900,000 | $90,000 | $775 | 4.09% |
For the 2021, Indiana University Credit Union's most frequently cited loan purpose of loans were Cash Out Refi, with 377 originations. The 2nd most popular reason of loans were Home Purchase, with 280 originations.
Loan Duration/Length
Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
---|---|---|---|---|---|
30 Year | 407 | $89,165,000 | $219,079 | $2,002 | 3.11% |
15 Year | 273 | $51,065,000 | $187,051 | $1,430 | 3.71% |
20 Year | 70 | $13,900,000 | $198,571 | $1,997 | 2.96% |
10 Year | 68 | $14,050,000 | $206,618 | $746 | 4.03% |
5 Year | 49 | $8,955,000 | $182,755 | $156 | 4.15% |
Other | 40 | $24,330,000 | $608,250 | $1,033 | 4.01% |
30+ year | 6 | $2,200,000 | $366,667 | $4,750 | 2.75% |
1 Year | 5 | $1,075,000 | $215,000 | $0 | 4.05% |
For the 2021, Indiana University Credit Union's most frequently cited loan length of loans were 30 Year, with 407 originations. The 2nd most popular length of loans were 15 Year, with 273 originations.
Origination Fees
Origination Fee | Originations | Total Value | Average Loan |
---|---|---|---|
$<1k | 681 | $115,585,000 | $169,728 |
$1k-2k | 58 | $16,120,000 | $277,931 |
$2k-3k | 9 | $2,835,000 | $315,000 |
$3k-4k | 3 | $665,000 | $221,667 |
$2,002 of loans were Indiana University Credit Union's average total fees, while their most frequently occuring range of origination fees were in the $<1k bucket, with 681 originations.
Interest Rates
Loan Rate | Originations | Total Value | Average Loan |
---|---|---|---|
3-4% | 465 | $117,115,000 | $251,860 |
2.5-3% | 272 | $58,000,000 | $213,235 |
4-5% | 85 | $15,045,000 | $177,000 |
<2.5% | 60 | $12,960,000 | $216,000 |
5-6% | 19 | $875,000 | $46,053 |
6-7% | 10 | $510,000 | $51,000 |
7-8% | 5 | $205,000 | $41,000 |
Over 8% | 2 | $30,000 | $15,000 |
During 2021, Indiana University Credit Union's average interest rate of loans were 3.11%, while their most frequently originated rate bucket of loans were 3-4%, with 465 originations.
Loan Sizing
Loan Size | Originations | Total Value | Average Loan | Average Fees | Average Rate |
---|---|---|---|---|---|
$100k-200k | 367 | $54,985,000 | $149,823 | $1,820 | 3.25% |
$200k-400k | 249 | $67,695,000 | $271,867 | $2,210 | 3.10% |
$100,000 or less | 232 | $13,960,000 | $60,172 | $744 | 4.10% |
$400k-600k | 40 | $19,630,000 | $490,750 | $2,713 | 3.28% |
$600k-1MM | 17 | $13,025,000 | $766,176 | $2,285 | 3.49% |
$1MM+ | 13 | $35,445,000 | $2,726,538 | $0 | 3.95% |
2021 saw Indiana University Credit Union place emphasis on $100k-200k loans with 367 originations, totaling $54,985,000 in origination value.
Applicant Income
Applicant Income | Originations | Total Value | Average Loan | Average Fees | Average Rate |
---|---|---|---|---|---|
$50k-75k | 181 | $24,715,000 | $136,547 | $1,462 | 3.45% |
$100k-150k | 174 | $35,680,000 | $205,057 | $1,843 | 3.27% |
$50k or less | 145 | $16,855,000 | $116,241 | $1,513 | 3.35% |
$75k-100k | 143 | $23,465,000 | $164,091 | $1,700 | 3.38% |
$150k-250k | 98 | $26,690,000 | $272,347 | $2,030 | 3.14% |
$250k+ | 29 | $11,715,000 | $403,966 | $2,127 | 3.36% |
Indiana University Credit Union lent most frequently to those with incomes in the $50k-75k range, with 181 originations. The second most popular income band? $100k-150k, with 174 originations.
Applicant Debt to Income Ratio
DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
---|---|---|---|---|---|
20-30% | 246 | $42,840,000 | $174,146 | $1,736 | 3.25% |
<20% | 148 | $26,270,000 | $177,500 | $1,859 | 3.09% |
30-36% | 137 | $24,775,000 | $180,839 | $1,553 | 3.43% |
38% | 27 | $6,435,000 | $238,333 | $1,740 | 3.33% |
37% | 27 | $5,365,000 | $198,704 | $1,603 | 3.44% |
43% | 26 | $3,740,000 | $143,846 | $1,381 | 3.86% |
36% | 26 | $4,830,000 | $185,769 | $1,660 | 3.50% |
39% | 21 | $3,425,000 | $163,095 | $1,595 | 3.39% |
41% | 19 | $3,525,000 | $185,526 | $1,383 | 3.43% |
40% | 18 | $3,270,000 | $181,667 | $1,875 | 3.51% |
50-60% | 15 | $3,215,000 | $214,333 | $1,857 | 3.74% |
42% | 12 | $2,710,000 | $225,833 | $1,816 | 3.02% |
47% | 12 | $2,960,000 | $246,667 | $1,488 | 3.68% |
45% | 11 | $1,675,000 | $152,273 | $1,550 | 3.77% |
>60% | 10 | $1,590,000 | $159,000 | $0 | 4.01% |
44% | 10 | $1,820,000 | $182,000 | $1,817 | 3.29% |
46% | 7 | $1,215,000 | $173,571 | $1,093 | 3.70% |
48% | 5 | $855,000 | $171,000 | $1,525 | 3.22% |
49% | 4 | $770,000 | $192,500 | $2,391 | 2.75% |
Indiana University Credit Union lent most frequently to those with DTI ratios of 20-30%, with 246 originations. The next most common DTI ratio? <20%, with 148 originations.
Ethnicity Mix
Applicant Ethnicity | Originations | Total Value | Average Loan | Average Fees | Average Rate |
---|---|---|---|---|---|
White | 681 | $122,185,000 | $179,420 | $1,680 | 3.35% |
Not applicable | 127 | $60,705,000 | $477,992 | $0 | 4.07% |
Not provided | 57 | $11,025,000 | $193,421 | $1,763 | 3.27% |
Asian | 21 | $4,765,000 | $226,905 | $1,871 | 3.00% |
American Indian | 10 | $2,360,000 | $236,000 | $1,987 | 3.21% |
Black | 14 | $2,070,000 | $147,857 | $1,420 | 3.53% |
Filipino | 2 | $620,000 | $310,000 | $2,369 | 2.88% |
Asian Indian | 2 | $480,000 | $240,000 | $1,978 | 3.44% |
Chinese | 1 | $225,000 | $225,000 | $2,499 | 3.13% |
Other Asian | 1 | $115,000 | $115,000 | $1,740 | 3.13% |
Korean | 1 | $105,000 | $105,000 | $1,694 | 3.25% |
Japanese | 1 | $85,000 | $85,000 | $1,411 | 3.00% |
Approval Rates
Total approvals of all applications85.09%
Indiana University Credit Union has an average approval rate.
Pick Rate
Approvals leading to origination83.18%
Indiana University Credit Union has a below average pick rate.
Points and Fees
Points | Originations | Total Value | Average Loan |
---|---|---|---|
NA | 918 | $204,740,000 | $223,028 |
Occupancy Type Mix
Dwelling Type | Originations | Total Value | Average Loan |
---|---|---|---|
918 | $204,740,000 | $223,028 |
LTV Distribution
Loan to Value | Originations | Total Value | Average Loan | Average Fees | Average Rate |
---|---|---|---|---|---|
20-40% | 88 | $8,100,000 | $92,045 | $1,194 | 3.58% |
40-60% | 181 | $30,815,000 | $170,249 | $1,696 | 3.22% |
60-80% | 404 | $104,170,000 | $257,847 | $2,028 | 3.36% |
80-100% | 178 | $58,400,000 | $328,090 | $1,949 | 3.22% |
Under 20% | 62 | $2,060,000 | $33,226 | $213 | 5.08% |
Complaints
Bank Name | Product | Issue | 2021 CPFB Complaints | % of Total Issues |
---|---|---|---|---|
Indian River County Habitat for Humanity, Inc. | Other type of mortgage | Struggling to pay mortgage | 1 | 100.0% |