Foundation Credit Union Mortgage Rates, Fees & Info
Springfield, MOLEI: 549300JDWM7YJVNPMR47
Tax ID: 44-0444355
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Mortgage Data
Review & Overview
Foundation Credit Union is a smaller credit union specializing in Refi and Home Purchase loans. Foundation Credit Union has a high proportion of conventional loans. Their top two markets are Springfield and Fayetteville .Foundation Credit Union has an above average approval rate when compared to the average across all lenders.
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Originations
39Origination Dollar Volume (All Markets)
$5,435,000Top 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 |
|---|---|---|---|---|---|
| SPRINGFIELD, MO (FHA|USDA|VA) | 34 | $4,680,000 | $137,647 | $0 | 0.00% |
| Outside of Metro Areas | 4 | $620,000 | $155,000 | $0 | 0.00% |
| FAYETTEVILLE-SPRINGDALE-ROGERS, AR (FHA|USDA|VA) | 1 | $135,000 | $135,000 | $0 | 0.00% |
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 39 | $5,435,000 | $139,359 | $0 | 0.00% |
For 2018, Foundation Credit Union's most frequently originated type of loan was Conventional, with 39 originations.
Loan Reason
| Loan Reason | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Refi | 20 | $2,970,000 | $148,500 | $0 | 0.00% |
| Home Purchase | 19 | $2,465,000 | $129,737 | $0 | 0.00% |
For 2018, Foundation Credit Union's most frequently cited loan purpose was Refi, with 20 originations. The 2nd most popular reason was Home Purchase, with 19 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Other | 39 | $5,435,000 | $139,359 | $0 | 0.00% |
For 2018, Foundation Credit Union's most frequently cited loan duration was Other, with 39 originations.
Loan Sizing
2018 saw Foundation Credit Union place emphasis on $100k-200k loans with 24 originations, totaling $3,340,000 in origination value.
Applicant Income
Foundation Credit Union lent most frequently to those with incomes in the $50k-75k range, with 16 originations. The second most popular income band? $75k-100k, with 9 originations.
Ethnicity Mix
| Applicant Ethnicity | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Not provided | 26 | $3,710,000 | $142,692 | $0 | 0.00% |
| White | 13 | $1,725,000 | $132,692 | $0 | 0.00% |
Approval Rates
Total approvals of all applications100.00%
Foundation 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 originationPoints and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 39 | $5,435,000 | $139,359 |