Siouxland Federal Credit Union Mortgage Rates, Fees & Info
South Sioux City, NELEI: 549300FX2QBKG7ZTBX37
Tax ID: 47-0520923
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Mortgage Data
Review & Overview
Siouxland Federal Credit Union is a smaller credit union specializing in Refi and Home Purchase loans. Siouxland Federal Credit Union has a high proportion of conventional loans. Their top markets by origination volume include: Sioux City, Sioux Falls, Beatrice, Omaha, and Spirit Lake among others. We have data for 6 markets. (Some data included below & more in-depth data is available with an active subscription.)Siouxland Federal Credit Union has an average approval rate when compared to the average across all lenders. They have an above average pick rate when compared to similar lenders. Siouxland Federal 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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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| 30 Year Conventional Purchase | 6.75% | 4/18/24 |
| 30 Year Conventional Refi | 6.64% | 4/18/24 |
| 30 Year FHA Purchase | 6.27% | 4/18/24 |
| 30 Year FHA Refi | 6.27% | 4/18/24 |
| 30 Year VA Purchase | 6.27% | 4/18/24 |
| 15 Year Conventional Purchase | 6.01% | 4/18/24 |
| 15 Year Conventional Refi | 6.00% | 4/18/24 |
| 15 Year Cash-out Refi | 6.00% | 4/18/24 |
| 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. | ||
Siouxland Federal Credit Union Mortgage Calculator
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
199Origination Dollar Volume (All Markets)
$21,805,000Awards
SIOUXLAND FEDERAL CREDIT UNION - 2023
SIOUXLAND FEDERAL CREDIT UNION is a 2023 , due to their low .
For 2023, less than of lenders were eligible for this award.
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Relative Rate
Siouxland Federal Credit Union's average 30 year fixed mortgage rate was
6.43%.
The 2023 average 30 year fixed rate mortgage across all markets and lenders was 6.48%.
This yields a difference of -0.05%.
Relative Fees (Closing Costs)
Siouxland Federal Credit Union's average total fees/closing costs for a 30 year fixed rate
mortgage were $3,677.
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 |
|---|---|---|---|---|---|
| SIOUX CITY, IA-NE-SD (FHA|USDA|VA) | 184 | $19,700,000 | $107,065 | $1,965 | 6.99% |
| Outside of Metro Areas | 11 | $1,475,000 | $134,091 | $2,971 | 6.57% |
| SIOUX FALLS, SD (FHA|USDA|VA) | 1 | $255,000 | $255,000 | $4,225 | 6.00% |
| Beatrice, NE (FHA|USDA|VA) | 1 | $225,000 | $225,000 | $4,185 | 6.63% |
| OMAHA-COUNCIL BLUFFS, NE-IA (FHA|USDA|VA) | 1 | $85,000 | $85,000 | $3,109 | 7.13% |
| Spirit Lake, IA (FHA|USDA|VA) | 1 | $65,000 | $65,000 | $408 | 7.50% |
Similar Lenders
We use machine learning to identify the top lenders compared against SIOUXLAND FEDERAL CREDIT UNION based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.
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Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 179 | $20,795,000 | $116,173 | $2,051 | 6.92% |
| HELOC | 20 | $1,010,000 | $50,500 | n/a | 7.29% |
For 2023, Siouxland Federal Credit Union's most frequently originated type of loan was Conventional, with 179 originations. Their 2nd most popular type was HELOC, with 20 originations.
Loan Reason
For 2023, Siouxland Federal Credit Union's most frequently cited loan purpose was Refi, with 92 originations. The 2nd most popular reason was Home Purchase, with 61 originations.
Loan Duration/Length
For 2023, Siouxland Federal Credit Union's most frequently cited loan duration was 30 Year, with 72 originations. The 2nd most popular length was 10 Year, with 66 originations.
Origination Fees/Closing Costs
Siouxland Federal Credit Union's average total fees were $3,677, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 108 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 6-7% | 94 | $9,860,000 | $104,894 |
| 7-8% | 66 | $5,480,000 | $83,030 |
| 5-6% | 25 | $5,575,000 | $223,000 |
| Over 8% | 11 | $385,000 | $35,000 |
| 4-5% | 2 | $420,000 | $210,000 |
During 2023, Siouxland Federal Credit Union's average interest rate for loans was 6.43%, while their most frequently originated rate bucket for loans was 6-7%, with 94 originations.
Loan Sizing
2023 saw Siouxland Federal Credit Union place emphasis on $100,000 or less loans with 118 originations, totaling $5,520,000 in origination value.
Applicant Income
Siouxland Federal Credit Union lent most frequently to those with incomes in the $100k-150k range, with 61 originations. The second most popular income band? $75k-100k, with 56 originations.
Applicant Debt to Income Ratio
Siouxland Federal Credit Union lent most frequently to those with DTI ratios of 20-30%, with 39 originations. The next most common DTI ratio? 30-36%, with 30 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications76.58%
Siouxland Federal Credit Union has a below average approval rate.
Pick Rate
Approvals leading to origination96.48%
Siouxland Federal Credit Union has an exceptionally high pick rate. They most likely have borrower friendly terms or other characteristics like being fast to close or are easy to work with.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 199 | $21,805,000 | $109,573 |