Quantum Credit Union Mortgage Rates, Fees & Info

Wichita, KS

LEI: 549300HQPLN40YTRSL84

Tax ID: 48-0446490

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Mortgage Data

Review & Overview

Quantum Credit Union is a smaller credit union specializing in Cash Out Refi loans. Quantum Credit Union has a high proportion of conventional loans. Their top markets by origination volume include: Wichita, Emporia, Dodge City, Hutchinson, and Ottawa among others. We have data for 8 markets. (Some data included below & more in-depth data is available with an active subscription.)

Quantum Credit Union has an above average approval rate when compared to the average across all lenders. They have an above average pick rate when compared to similar lenders.

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Originations

62

Origination Dollar Volume (All Markets)

$5,190,000

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
WICHITA, KS (FHA|USDA|VA) 44 $3,690,000 $83,864 $0 0.00%
Outside of Metro Areas 11 $965,000 $87,727 $0 0.00%
Emporia, KS (FHA|USDA|VA) 2 $170,000 $85,000 $0 0.00%
Dodge City, KS (FHA|USDA|VA) 1 $85,000 $85,000 $0 0.00%
Hutchinson, KS (FHA|USDA|VA) 1 $85,000 $85,000 $0 0.00%
Ottawa, KS (FHA|USDA|VA) 1 $75,000 $75,000 $0 0.00%
McPherson, KS (FHA|USDA|VA) 1 $65,000 $65,000 $0 0.00%
KANSAS CITY, MO-KS (FHA|USDA|VA) 1 $55,000 $55,000 $0 0.00%
Quantum Credit Union's top markets include Wichita, Emporia, Dodge City, Hutchinson, and Ottawa among others.

Their top states include:
  • Kansas (FHA|USDA|VA)
  • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 62 $5,190,000 $83,710 $0 0.00%

    For 2020, Quantum Credit Union's most frequently originated type of loan was Conventional, with 62 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Cash Out Refi 28 $2,940,000 $105,000 $0 0.00%
    Home Improvement 22 $980,000 $44,545 $0 0.00%
    Other 5 $205,000 $41,000 $0 0.00%
    Home Purchase 4 $590,000 $147,500 $0 0.00%
    Refi 3 $475,000 $158,333 $0 0.00%

    For 2020, Quantum Credit Union's most frequently cited loan purpose was Cash Out Refi, with 28 originations. The 2nd most popular reason was Home Improvement, with 22 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 62 $5,190,000 $83,710 $0 0.00%

    For 2020, Quantum Credit Union's most frequently cited loan duration was Other, with 62 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 46 $2,460,000 $53,478 $0 0.00%
    $100k-200k 13 $1,815,000 $139,615 $0 0.00%
    $200k-400k 2 $490,000 $245,000 $0 0.00%
    $400k-600k 1 $425,000 $425,000 $0 0.00%

    2020 saw Quantum Credit Union place emphasis on $100,000 or less loans with 46 originations, totaling $2,460,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 18 $1,890,000 $105,000 $0 0.00%
    $75k-100k 18 $1,570,000 $87,222 $0 0.00%
    $50k-75k 12 $830,000 $69,167 $0 0.00%
    $150k-250k 7 $385,000 $55,000 $0 0.00%
    $50k or less 7 $515,000 $73,571 $0 0.00%

    Quantum Credit Union lent most frequently to those with incomes in the $100k-150k range, with 18 originations. The second most popular income band? $75k-100k, with 18 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 62 $5,190,000 $83,710 $0 0.00%

    Quantum Credit Union lent most frequently to those with DTI ratios of Exempt%, with 62 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 46 $3,810,000 $82,826 $0 0.00%
    Not provided 9 $885,000 $98,333 $0 0.00%
    American Indian 2 $230,000 $115,000 $0 0.00%
    Asian 2 $110,000 $55,000 $0 0.00%
    Black 2 $110,000 $55,000 $0 0.00%
    Japanese 1 $45,000 $45,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    95.71%

    Quantum Credit Union has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.

    Pick Rate

    Approvals leading to origination
    96.77%

    Quantum 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
    Exempt 62 $5,190,000 $83,710

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Single Family (1-4 Units):Site-Built 62 $5,190,000 $83,710