Tendto Credit Union Mortgage Rates, Fees & Info
Erie, PALEI: 549300JLK2AVVQONWA53
Tax ID: 25-1086321
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Mortgage Data
Review & Overview
Tendto Credit Union is a smaller credit union specializing in Home Improvement and Refi loans. Tendto Credit Union has a high proportion of conventional loans. Their top (well, only) market is Erie.Tendto Credit Union has a below average approval rate when compared to the average across all lenders. They have an average pick rate when compared to similar lenders.
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Originations
31Origination Dollar Volume (All Markets)
$1,675,000Top Markets
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| Market | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| ERIE, PA (FHA|USDA|VA) | 31 | $1,675,000 | $54,032 | $0 | 0.00% |
Their top states include:
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 31 | $1,675,000 | $54,032 | $0 | 0.00% |
For 2023, Tendto Credit Union's most frequently originated type of loan was Conventional, with 31 originations.
Loan Reason
| Loan Reason | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Home Improvement | 18 | $880,000 | $48,889 | $0 | 0.00% |
| Refi | 10 | $690,000 | $69,000 | $0 | 0.00% |
| Other | 3 | $105,000 | $35,000 | $0 | 0.00% |
For 2023, Tendto Credit Union's most frequently cited loan purpose was Home Improvement, with 18 originations. The 2nd most popular reason was Refi, with 10 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Other | 31 | $1,675,000 | $54,032 | $0 | 0.00% |
For 2023, Tendto Credit Union's most frequently cited loan duration was Other, with 31 originations.
Loan Sizing
| Loan Size | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| $100,000 or less | 27 | $1,155,000 | $42,778 | $0 | 0.00% |
| $100k-200k | 4 | $520,000 | $130,000 | $0 | 0.00% |
2023 saw Tendto Credit Union place emphasis on $100,000 or less loans with 27 originations, totaling $1,155,000 in origination value.
Applicant Income
Tendto Credit Union lent most frequently to those with incomes in the $50k-75k range, with 9 originations. The second most popular income band? $150k-250k, with 7 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Exempt% | 31 | $1,675,000 | $54,032 | $0 | 0.00% |
Tendto Credit Union lent most frequently to those with DTI ratios of Exempt%, with 31 originations.
Ethnicity Mix
| Applicant Ethnicity | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| White | 26 | $1,420,000 | $54,615 | $0 | 0.00% |
| Black | 5 | $255,000 | $51,000 | $0 | 0.00% |
Approval Rates
Total approvals of all applications68.75%
Tendto Credit Union has a low approval rate. They may have poor market targeting or stringent lending standards.
Pick Rate
Approvals leading to origination93.55%
Tendto Credit Union has an average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| Exempt | 31 | $1,675,000 | $54,032 |