Mazuma Credit Union Mortgage Rates, Fees & Info

Overland Park, KS

LEI: 549300JDDZ5OVOP5E294

Tax ID: 44-0544335

5 stars - Updated: 3/27/24 - out of 5 stars, based on 12 reviews

Latest/2023 | 2022 Data | 2021 Data | 2020 Data |

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Mortgage Data

Review & Overview

Mazuma Credit Union is a smaller credit union specializing in Home Purchase and Cash Out Refi loans. Mazuma Credit Union has a high proportion of conventional loans. They have an average proportion of FHA loans. Their top markets by origination volume include: Kansas City, Orlando, Breckenridge, Warrensburg, and Wichita among others. We have data for 16 markets. (Some data included below & more in-depth data is available with an active subscription.)

Mazuma 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. Mazuma Credit Union is typically an average 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.

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
30 Year Conventional Purchase 6.98% 3/27/24
30 Year Conventional Refi 6.79% 3/27/24
30 Year Cash-out Refi 7.30% 3/27/24
30 Year FHA Purchase 7.25% 3/27/24
30 Year VA Purchase 5.78% 3/27/24
15 Year Conventional Purchase 6.36% 3/27/24
15 Year Conventional Refi 6.37% 3/27/24
15 Year Cash-out Refi 6.37% 3/27/24
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.

Mazuma Credit Union Mortgage Calculator






Your Estimates

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

This is not an official calculator from Mazuma 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

135

Origination Dollar Volume (All Markets)

$31,165,000

Awards

Mazuma Credit Union FHA Loans bronze Mazuma Credit Union FHA Loans bronze Mazuma Credit Union FHA Loans bronze
Show all (3) awards

Relative Rate

Mazuma Credit Union's average 30 year fixed mortgage rate was 6.8%.

The 2023 average 30 year fixed rate mortgage across all markets and lenders was 6.48%.

This yields a difference of 0.32%.

Relative Fees (Closing Costs)

Mazuma Credit Union's average total fees/closing costs for a 30 year fixed rate mortgage were $5,121.

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
KANSAS CITY, MO-KS (FHA|USDA|VA) 115 $26,995,000 $234,739 $5,065 6.76%
Outside of Metro Areas 4 $610,000 $152,500 $4,860 6.44%
ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) 1 $585,000 $585,000 $12,411 7.50%
Breckenridge, CO (FHA|USDA|VA) 1 $425,000 $425,000 $0 7.50%
Warrensburg, MO (FHA|USDA|VA) 2 $380,000 $190,000 $2,415 7.38%
WICHITA, KS (FHA|USDA|VA) 2 $350,000 $175,000 $2,683 7.25%
DAYTON-KETTERING, OH (FHA|USDA|VA) 1 $335,000 $335,000 $9,857 6.88%
North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) 1 $325,000 $325,000 $5,572 6.38%
ST. LOUIS, MO-IL (FHA|USDA|VA) 1 $275,000 $275,000 $2,817 7.13%
BURLINGTON, NC (FHA|USDA|VA) 1 $255,000 $255,000 $10,719 6.63%
COLUMBIA, MO (FHA|USDA|VA) 1 $135,000 $135,000 $5,190 6.13%
GREEN BAY, WI (FHA|USDA|VA) 1 $125,000 $125,000 $3,699 7.88%
Maryville, MO (FHA|USDA|VA) 1 $105,000 $105,000 $4,354 6.50%
Cornelia, GA (FHA|USDA|VA) 1 $105,000 $105,000 $3,301 8.13%
Branson, MO (FHA|USDA|VA) 1 $105,000 $105,000 $3,156 6.88%
YOUNGSTOWN-WARREN-BOARDMAN, OH-PA (FHA|USDA|VA) 1 $55,000 $55,000 $4,043 7.25%
Mazuma Credit Union's top markets include Kansas City, Orlando, Breckenridge, Warrensburg, and Wichita among others.

Their top states include:
  • Missouri (FHA|USDA|VA)
  • Kansas (FHA|USDA|VA)
  • Florida (FHA|USDA|VA)
  • Colorado (FHA|USDA|VA)
  • Ohio (FHA|USDA|VA)
  • Similar Lenders

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

    MAINSTREET FEDERAL CREDIT UNION
    Similarity Rank: 280
    HNB National Bank
    Similarity Rank: 495
    Landmark National Bank
    Similarity Rank: 507
    Central National Bank
    Similarity Rank: 638
    FRONTIER COMMUNITY CREDIT UNION
    Similarity Rank: 688
    ASSEMBLIES OF GOD Credit Union
    Similarity Rank: 1215
    Stifel Bank and Trust
    Similarity Rank: 2366
    Oakstar Bank
    Similarity Rank: 2368
    Mid-America Bank
    Similarity Rank: 2478
    Mazuma Credit Union
    Similarity Rank: 2832

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 95 $21,115,000 $222,263 $3,807 7.00%
    FHA 35 $8,935,000 $255,286 $8,029 6.34%
    VA 5 $1,115,000 $223,000 $7,393 6.08%

    For 2023, Mazuma Credit Union's most frequently originated type of loan was Conventional, with 95 originations. Their 2nd most popular type was FHA, with 35 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 96 $23,940,000 $249,375 $5,523 6.76%
    Cash Out Refi 35 $6,315,000 $180,429 $4,199 6.86%
    Refi 4 $910,000 $227,500 $2,320 7.09%

    For 2023, Mazuma Credit Union's most frequently cited loan purpose was Home Purchase, with 96 originations. The 2nd most popular reason was Cash Out Refi, with 35 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 131 $30,705,000 $234,389 $5,121 6.80%
    15 Year 2 $210,000 $105,000 $3,496 6.75%
    10 Year 1 $145,000 $145,000 $3,999 7.00%
    20 Year 1 $105,000 $105,000 $3,034 6.50%

    For 2023, Mazuma Credit Union's most frequently cited loan duration was 30 Year, with 131 originations. The 2nd most popular length was 15 Year, with 2 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 50 $12,480,000 $249,600
    $1k-2k 38 $8,030,000 $211,316
    $2k-3k 23 $3,985,000 $173,261
    $4k-5k 9 $2,445,000 $271,667
    $5k+ 8 $2,790,000 $348,750
    $3k-4k 3 $565,000 $188,333

    Mazuma Credit Union's average total fees were $5,121, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 50 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    6-7% 59 $13,375,000 $226,695
    7-8% 53 $12,535,000 $236,509
    5-6% 21 $4,965,000 $236,429
    Over 8% 2 $290,000 $145,000

    During 2023, Mazuma Credit Union's average interest rate for loans was 6.80%, while their most frequently originated rate bucket for loans was 6-7%, with 59 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100k-200k 62 $9,360,000 $150,968 $4,189 6.78%
    $200k-400k 56 $16,290,000 $290,893 $5,655 6.75%
    $400k-600k 11 $5,125,000 $465,909 $7,958 6.75%
    $100,000 or less 6 $390,000 $65,000 $3,357 7.35%

    2023 saw Mazuma Credit Union place emphasis on $100k-200k loans with 62 originations, totaling $9,360,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 41 $11,235,000 $274,024 $5,282 6.74%
    $50k-75k 30 $5,240,000 $174,667 $5,072 6.80%
    $75k-100k 26 $5,740,000 $220,769 $5,440 6.79%
    $50k or less 19 $2,505,000 $131,842 $4,384 6.59%
    $150k-250k 16 $4,980,000 $311,250 $4,374 7.05%
    $250k+ 3 $1,465,000 $488,333 $7,550 7.46%

    Mazuma Credit Union lent most frequently to those with incomes in the $100k-150k range, with 41 originations. The second most popular income band? $50k-75k, with 30 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 32 $6,680,000 $208,750 $4,262 6.85%
    50-60% 15 $3,895,000 $259,667 $8,296 6.51%
    30-36% 13 $3,125,000 $240,385 $4,873 6.65%
    42% 10 $2,870,000 $287,000 $3,744 7.36%
    39% 8 $2,140,000 $267,500 $4,118 6.88%
    38% 7 $1,405,000 $200,714 $3,921 7.00%
    41% 7 $1,635,000 $233,571 $7,306 6.29%
    48% 6 $1,330,000 $221,667 $5,540 6.73%
    49% 6 $1,150,000 $191,667 $5,870 6.71%
    <20% 6 $1,080,000 $180,000 $3,003 7.13%
    43% 4 $790,000 $197,500 $5,668 6.53%
    44% 4 $1,300,000 $325,000 $4,966 6.88%
    45% 4 $900,000 $225,000 $5,338 6.75%
    40% 4 $710,000 $177,500 $4,188 7.28%
    47% 4 $1,200,000 $300,000 $5,426 6.59%
    37% 2 $530,000 $265,000 $4,842 5.94%
    46% 2 $290,000 $145,000 $3,809 6.75%
    36% 1 $135,000 $135,000 $4,298 7.50%

    Mazuma Credit Union lent most frequently to those with DTI ratios of 20-30%, with 32 originations. The next most common DTI ratio? 50-60%, with 15 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 71 $16,435,000 $231,479 $4,816 6.83%
    Black 35 $8,135,000 $232,429 $5,747 6.80%
    Not provided 27 $6,115,000 $226,481 $4,774 6.70%
    Asian 1 $275,000 $275,000 $9,205 6.38%
    Native Hawaiian or Islander 1 $205,000 $205,000 $4,259 7.13%

    Approval Rates

    Total approvals of all applications
    85.11%

    Mazuma Credit Union has an average approval rate.

    Pick Rate

    Approvals leading to origination
    34.07%

    Mazuma Credit Union has a low pick rate. They may have issues with closing loans or may approve everyone, but with onerous loan terms.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 135 $31,165,000 $230,852

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    135 $31,165,000 $230,852

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 6 $600,000 $100,000 $3,559 7.02%
    40-60% 10 $1,780,000 $178,000 $3,473 6.94%
    60-80% 32 $5,760,000 $180,000 $4,460 6.80%
    80-100% 85 $22,695,000 $267,000 $5,535 6.76%
    Over 100% 1 $195,000 $195,000 $10,755 5.63%
    Under 20% 1 $135,000 $135,000 $4,298 7.50%