Indiana University Credit Union Mortgage Rates, Fees & Info

Bloomington, IN

LEI: 549300F175WFRUKLMG10

Tax ID: 35-0987917

5 stars - Updated: 7/7/25 - out of 5 stars, based on 30 reviews

Latest/2024 | 2023 Data | 2022 Data | 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
  • 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 Cash Out Refi, 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, Elkhart, South Bend, and Chicago among others. We have data for 26 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.

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    SimulatedRates™

    Mortgage Type     		Simulated Rate Simulation Date
    Home Equity Line of Credit (HELOC) 7.20% 7/7/25
    30 Year Conventional Purchase 6.61% 7/7/25
    30 Year Conventional Refi 6.32% 7/7/25
    30 Year Cash-out Refi 6.48% 7/7/25
    15 Year Conventional Purchase 6.26% 7/7/25
    15 Year Conventional Refi 6.23% 7/7/25
    15 Year Cash-out Refi 6.23% 7/7/25
    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

    917

    Origination Dollar Volume (All Markets)

    $228,355,000
    Show all (7) awards

    Relative Rate

    Indiana University Credit Union's average 30 year fixed mortgage rate was 6.36%.

    The 2024 average 30 year fixed rate mortgage across all markets and lenders was 6.55%.

    This yields a difference of -0.19%.

    Relative Fees (Closing Costs)

    Indiana University Credit Union's average total fees/closing costs for a 30 year fixed rate mortgage were $2,075.

    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 $8,356.

    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) 564 $119,680,000 $212,199 $1,230 7.37%
    INDIANAPOLIS-CARMEL-ANDERSON, IN (FHA|USDA|VA) 160 $39,220,000 $245,125 $1,227 7.27%
    Outside of Metro Areas 32 $10,810,000 $337,813 $1,047 7.51%
    ELKHART-GOSHEN, IN (FHA|USDA|VA) 4 $10,780,000 $2,695,000 $0 6.94%
    SOUTH BEND-MISHAWAKA, IN-MI (FHA|USDA|VA) 10 $9,410,000 $941,000 $0 7.00%
    Chicago-Naperville-Elgin, IL-IN-WI (FHA|USDA|VA) 25 $6,805,000 $272,200 $779 7.48%
    TERRE HAUTE, IN (FHA|USDA|VA) 19 $5,485,000 $288,684 $1,128 7.11%
    Bedford, IN (FHA|USDA|VA) 35 $4,645,000 $132,714 $1,190 7.32%
    Scottsburg, IN (FHA|USDA|VA) 1 $4,555,000 $4,555,000 $0 6.95%
    MICHIGAN CITY-LA PORTE, IN (FHA|USDA|VA) 4 $2,760,000 $690,000 $0 7.23%
    COLUMBUS, IN (FHA|USDA|VA) 20 $2,730,000 $136,500 $161 7.12%
    Logansport, IN (FHA|USDA|VA) 1 $1,655,000 $1,655,000 $0 7.00%
    Jasper, IN (FHA|USDA|VA) 1 $1,355,000 $1,355,000 $0 7.00%
    LAFAYETTE-WEST LAFAYETTE, IN (FHA|USDA|VA) 3 $1,355,000 $451,667 $0 8.75%
    FORT WAYNE, IN (FHA|USDA|VA) 8 $1,290,000 $161,250 $701 6.76%
    Warsaw, IN (FHA|USDA|VA) 1 $995,000 $995,000 $0 7.25%
    EVANSVILLE, IN-KY (FHA|USDA|VA) 8 $970,000 $121,250 $2,421 6.77%
    Seymour, IN (FHA|USDA|VA) 1 $855,000 $855,000 $0 6.95%
    Marion, IN (FHA|USDA|VA) 5 $745,000 $149,000 $0 6.97%
    Crawfordsville, IN (FHA|USDA|VA) 2 $640,000 $320,000 $2,555 6.38%
    KOKOMO, IN (FHA|USDA|VA) 6 $630,000 $105,000 $136 6.81%
    MUNCIE, IN (FHA|USDA|VA) 1 $605,000 $605,000 $0 6.70%
    LOUISVILLE, KY (FHA|USDA|VA) 3 $155,000 $51,667 $132 8.25%
    New Castle, IN (FHA|USDA|VA) 1 $105,000 $105,000 $0 7.25%
    Connersville, IN (FHA|USDA|VA) 1 $85,000 $85,000 $0 7.25%
    Bluffton, IN (FHA|USDA|VA) 1 $35,000 $35,000 $0 8.00%
    Indiana University Credit Union's top markets include Bloomington, Indianapolis, Elkhart, South Bend, and Chicago among others.

    Their top states include:
  • Indiana (FHA|USDA|VA)
  • Illinois (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: 44
    FAIR WAY LENDING LLC
    Similarity Rank: 575
    INDIANA UNIVERSITY CREDIT UNION
    Similarity Rank: 624
    CRANE
    Similarity Rank: 920
    Community First Bank of Indiana
    Similarity Rank: 994
    VICTORY MORTGAGE, L.L.C.
    Similarity Rank: 1072
    Greenfield Banking Company
    Similarity Rank: 1183
    South Pacific Financial Corporation
    Similarity Rank: 1221
    INDIANA MEMBERS CREDIT UNION
    Similarity Rank: 1334
    FORUM Credit Union
    Similarity Rank: 1738

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 685 $202,515,000 $295,642 $1,208 6.92%
    HELOC 232 $25,840,000 $111,379 n/a 8.55%

    For 2024, Indiana University Credit Union's most frequently originated type of loan was Conventional, with 685 originations. Their 2nd most popular type was HELOC, with 232 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Cash Out Refi 393 $51,665,000 $131,463 $521 7.75%
    Home Purchase 292 $97,890,000 $335,240 $2,059 6.63%
    Refi 127 $69,865,000 $550,118 $1,399 7.03%
    Home Improvement 105 $8,935,000 $85,095 $465 8.09%

    For 2024, Indiana University Credit Union's most frequently cited loan purpose was Cash Out Refi, with 393 originations. The 2nd most popular reason was Home Purchase, with 292 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    15 Year 493 $66,145,000 $134,168 $429 7.87%
    30 Year 239 $66,635,000 $278,808 $2,075 6.36%
    5 Year 68 $42,380,000 $623,235 $161 6.65%
    10 Year 67 $12,105,000 $180,672 $206 7.51%
    1 Year 25 $15,575,000 $623,000 $0 7.91%
    Other 13 $21,715,000 $1,670,385 $0 7.49%
    20 Year 6 $1,120,000 $186,667 $2,353 6.23%
    30+ year 6 $2,680,000 $446,667 $5,059 6.02%

    For 2024, Indiana University Credit Union's most frequently cited loan duration was 15 Year, with 493 originations. The 2nd most popular length was 30 Year, with 239 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 455 $79,095,000 $173,835
    $1k-2k 20 $6,330,000 $316,500
    $2k-3k 5 $2,105,000 $421,000
    $3k-4k 2 $1,030,000 $515,000
    $4k-5k 1 $765,000 $765,000

    Indiana University Credit Union's average total fees were $2,075, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 455 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    6-7% 347 $122,415,000 $352,781
    Over 8% 266 $31,150,000 $117,105
    7-8% 200 $31,400,000 $157,000
    5-6% 92 $24,310,000 $264,239
    4-5% 8 $18,480,000 $2,310,000
    3-4% 4 $600,000 $150,000

    During 2024, Indiana University Credit Union's average interest rate for loans was 6.36%, while their most frequently originated rate bucket for loans was 6-7%, with 347 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 395 $21,045,000 $53,278 $287 7.85%
    $100k-200k 222 $30,020,000 $135,225 $1,489 7.21%
    $200k-400k 191 $53,615,000 $280,707 $2,023 6.78%
    $400k-600k 62 $31,010,000 $500,161 $2,690 6.68%
    $1MM+ 24 $76,950,000 $3,206,250 $0 6.62%
    $600k-1MM 23 $15,715,000 $683,261 $2,849 6.61%

    2024 saw Indiana University Credit Union place emphasis on $100,000 or less loans with 395 originations, totaling $21,045,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 155 $24,735,000 $159,581 $1,229 7.38%
    $150k-250k 154 $35,530,000 $230,714 $1,348 7.32%
    $75k-100k 144 $18,160,000 $126,111 $1,163 7.42%
    $50k-75k 134 $14,060,000 $104,925 $1,082 7.41%
    $50k or less 79 $4,785,000 $60,570 $799 7.49%
    $250k+ 53 $16,785,000 $316,698 $2,209 7.42%

    Indiana University Credit Union lent most frequently to those with incomes in the $100k-150k range, with 155 originations. The second most popular income band? $150k-250k, with 154 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 185 $29,135,000 $157,486 $1,232 7.24%
    30-36% 130 $21,830,000 $167,923 $1,184 7.40%
    <20% 80 $10,310,000 $128,875 $1,203 7.17%
    44% 39 $6,425,000 $164,744 $1,067 7.83%
    41% 36 $5,150,000 $143,056 $1,272 7.43%
    39% 31 $4,255,000 $137,258 $1,333 7.52%
    42% 29 $5,285,000 $182,241 $1,049 7.60%
    43% 28 $3,020,000 $107,857 $868 7.89%
    36% 25 $3,875,000 $155,000 $1,000 7.51%
    38% 24 $4,240,000 $176,667 $1,326 7.68%
    40% 22 $3,300,000 $150,000 $1,088 7.68%
    45% 20 $4,470,000 $223,500 $1,606 7.31%
    37% 17 $2,695,000 $158,529 $978 7.90%
    >60% 16 $1,370,000 $85,625 $341 7.68%
    50-60% 14 $970,000 $69,286 $338 7.69%
    47% 8 $2,450,000 $306,250 $1,851 6.50%
    48% 8 $1,660,000 $207,500 $2,089 7.04%
    49% 8 $2,180,000 $272,500 $1,964 6.66%
    46% 8 $2,260,000 $282,500 $1,500 6.67%

    Indiana University Credit Union lent most frequently to those with DTI ratios of 20-30%, with 185 originations. The next most common DTI ratio? 30-36%, with 130 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    Not applicable 186 $112,980,000 $607,419 $0 7.06%
    White 625 $95,525,000 $152,840 $1,198 7.40%
    Asian 31 $9,455,000 $305,000 $1,968 7.31%
    Not provided 55 $7,515,000 $136,636 $981 7.63%
    Black 16 $2,160,000 $135,000 $1,021 6.82%
    Asian Indian 2 $350,000 $175,000 $1,927 7.56%
    Chinese 1 $265,000 $265,000 $1,957 6.50%
    American Indian 1 $105,000 $105,000 $161 7.25%

    Approval Rates

    Total approvals of all applications
    85.41%

    Indiana University Credit Union has an average approval rate.

    Pick Rate

    Approvals leading to origination
    83.21%

    Indiana University Credit Union has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 917 $228,355,000 $249,024

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    917 $228,355,000 $249,024

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 189 $18,845,000 $99,709 $558 7.82%
    40-60% 131 $32,485,000 $247,977 $1,319 7.21%
    60-80% 274 $128,070,000 $467,409 $2,041 6.80%
    80-100% 113 $37,505,000 $331,903 $2,122 6.50%
    Under 20% 210 $11,450,000 $54,524 $187 8.10%