Veridian Credit Union Mortgage Rates, Fees & Info
Waterloo, IALEI: 549300KER3YVZ3U5RK57
Tax ID: 42-1132695
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Mortgage Data
Review & Overview
Veridian Credit Union is a small credit union specializing in Home Purchase and Refi loans. Veridian Credit Union has a high proportion of conventional loans. They have a low ratio of USDA loans. Their top markets by origination volume include: Des Moines, Omaha, Waterloo, Cedar Rapids, and Iowa City among others. We have data for 59 markets. (Some data included below & more in-depth data is available with an active subscription.)Veridian Credit Union has an above average approval rate when compared to the average across all lenders. They have a below average pick rate when compared to similar lenders. Veridian 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 about average 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 |
---|---|---|
Home Equity Line of Credit (HELOC) | 6.27% | 10/31/24 |
30 Year Conventional Purchase | 6.48% | 10/31/24 |
30 Year Conventional Refi | 6.31% | 10/31/24 |
30 Year Cash-out Refi | 6.53% | 10/31/24 |
30 Year VA Purchase | 5.74% | 10/31/24 |
30 Year VA Refi | 5.65% | 10/31/24 |
15 Year Conventional Purchase | 5.71% | 10/31/24 |
15 Year Conventional Refi | 5.76% | 10/31/24 |
15 Year Cash-out Refi | 5.76% | 10/31/24 |
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. |
Veridian Credit Union Mortgage Calculator
Your Estimates
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This is not an official calculator from Veridian Credit Union. It uses our SimulatedRate™
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
10,427Origination Dollar Volume (All Markets)
$1,627,975,000VERIDIAN CREDIT UNION - 2020
VERIDIAN CREDIT UNION is a 2020 , due to their low .
For 2020, less than of lenders were eligible for this award.
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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 |
---|---|---|---|---|---|
DES MOINES-WEST DES MOINES, IA (FHA|USDA|VA) | 3,423 | $599,955,000 | $175,272 | $1,467 | 3.53% |
OMAHA-COUNCIL BLUFFS, NE-IA (FHA|USDA|VA) | 2,134 | $405,860,000 | $190,187 | $1,740 | 3.42% |
WATERLOO-CEDAR FALLS, IA (FHA|USDA|VA) | 2,317 | $277,425,000 | $119,735 | $1,386 | 3.65% |
Outside of Metro Areas | 1,009 | $110,715,000 | $109,727 | $1,327 | 3.78% |
CEDAR RAPIDS, IA (FHA|USDA|VA) | 813 | $108,575,000 | $133,549 | $1,522 | 3.59% |
IOWA CITY, IA (FHA|USDA|VA) | 209 | $37,285,000 | $178,397 | $1,810 | 3.48% |
AMES, IA (FHA|USDA|VA) | 173 | $23,105,000 | $133,555 | $1,399 | 3.61% |
Kearney, NE (FHA|USDA|VA) | 2 | $15,030,000 | $7,515,000 | $0 | 3.54% |
LINCOLN, NE (FHA|USDA|VA) | 49 | $7,605,000 | $155,204 | $2,128 | 3.80% |
Mason City, IA (FHA|USDA|VA) | 42 | $6,360,000 | $151,429 | $1,453 | 3.75% |
DAVENPORT-MOLINE-ROCK ISLAND, IA-IL (FHA|USDA|VA) | 28 | $4,420,000 | $157,857 | $1,281 | 3.45% |
Pella, IA (FHA|USDA|VA) | 31 | $3,705,000 | $119,516 | $1,327 | 3.56% |
MINNEAPOLIS-ST. PAUL-BLOOMINGTON, MN-WI (FHA|USDA|VA) | 10 | $3,540,000 | $354,000 | $2,199 | 2.85% |
Marshalltown, IA (FHA|USDA|VA) | 32 | $2,750,000 | $85,938 | $1,195 | 4.03% |
DUBUQUE, IA (FHA|USDA|VA) | 14 | $1,780,000 | $127,143 | $1,383 | 3.88% |
SIOUX CITY, IA-NE-SD (FHA|USDA|VA) | 17 | $1,775,000 | $104,412 | $1,632 | 3.73% |
Chicago-Naperville-Elgin, IL-IN-WI (FHA|USDA|VA) | 6 | $1,570,000 | $261,667 | $3,108 | 2.81% |
Spirit Lake, IA (FHA|USDA|VA) | 4 | $1,160,000 | $290,000 | $1,181 | 3.59% |
Muscatine, IA (FHA|USDA|VA) | 8 | $1,150,000 | $143,750 | $2,734 | 3.39% |
Oskaloosa, IA (FHA|USDA|VA) | 10 | $1,030,000 | $103,000 | $1,120 | 3.88% |
Brainerd, MN (FHA|USDA|VA) | 4 | $900,000 | $225,000 | $2,413 | 2.97% |
Fremont, NE (FHA|USDA|VA) | 8 | $770,000 | $96,250 | $1,061 | 3.75% |
MILWAUKEE-WAUKESHA, WI (FHA|USDA|VA) | 3 | $695,000 | $231,667 | $1,418 | 3.25% |
Carroll, IA (FHA|USDA|VA) | 7 | $635,000 | $90,714 | $1,085 | 4.08% |
Burlington, IA-IL (FHA|USDA|VA) | 6 | $620,000 | $103,333 | $1,443 | 3.41% |
Fort Dodge, IA (FHA|USDA|VA) | 10 | $610,000 | $61,000 | $1,519 | 4.12% |
ST. LOUIS, MO-IL (FHA|USDA|VA) | 3 | $595,000 | $198,333 | $1,763 | 3.17% |
Columbus, NE (FHA|USDA|VA) | 5 | $575,000 | $115,000 | $975 | 4.45% |
Ottumwa, IA (FHA|USDA|VA) | 10 | $550,000 | $55,000 | $880 | 4.42% |
Poplar Bluff, MO (FHA|USDA|VA) | 1 | $515,000 | $515,000 | $3,076 | 4.50% |
MADISON, WI (FHA|USDA|VA) | 2 | $500,000 | $250,000 | $2,173 | 3.06% |
Spencer, IA (FHA|USDA|VA) | 3 | $425,000 | $141,667 | $1,644 | 3.04% |
Fairmont, MN (FHA|USDA|VA) | 2 | $420,000 | $210,000 | $1,919 | 3.25% |
Red Wing, MN (FHA|USDA|VA) | 1 | $375,000 | $375,000 | $2,780 | 2.25% |
KANSAS CITY, MO-KS (FHA|USDA|VA) | 2 | $360,000 | $180,000 | $1,789 | 2.50% |
Warrensburg, MO (FHA|USDA|VA) | 1 | $355,000 | $355,000 | $1,024 | 2.38% |
LA CROSSE-ONALASKA, WI-MN (FHA|USDA|VA) | 2 | $350,000 | $175,000 | $1,397 | 2.75% |
Hastings, NE (FHA|USDA|VA) | 2 | $320,000 | $160,000 | $1,679 | 3.25% |
Yankton, SD (FHA|USDA|VA) | 1 | $315,000 | $315,000 | $2,190 | 2.50% |
Branson, MO (FHA|USDA|VA) | 1 | $275,000 | $275,000 | $8,437 | 2.25% |
Menomonie, WI (FHA|USDA|VA) | 1 | $265,000 | $265,000 | $1,674 | 2.63% |
Rochelle, IL (FHA|USDA|VA) | 1 | $255,000 | $255,000 | $1,596 | 2.63% |
Clinton, IA (FHA|USDA|VA) | 3 | $255,000 | $85,000 | $731 | 4.24% |
CHAMPAIGN-URBANA, IL (FHA|USDA|VA) | 1 | $255,000 | $255,000 | $1,587 | 2.25% |
SIOUX FALLS, SD (FHA|USDA|VA) | 1 | $225,000 | $225,000 | $1,460 | 2.25% |
Storm Lake, IA (FHA|USDA|VA) | 2 | $210,000 | $105,000 | $1,559 | 3.25% |
RAPID CITY, SD (FHA|USDA|VA) | 1 | $175,000 | $175,000 | $2,311 | 2.88% |
JEFFERSON CITY, MO (FHA|USDA|VA) | 1 | $165,000 | $165,000 | $1,293 | 2.25% |
Fairfield, IA (FHA|USDA|VA) | 1 | $155,000 | $155,000 | $1,161 | 2.63% |
Beatrice, NE (FHA|USDA|VA) | 1 | $155,000 | $155,000 | $2,063 | 2.88% |
Fergus Falls, MN (FHA|USDA|VA) | 1 | $145,000 | $145,000 | $1,873 | 2.63% |
Fort Madison-Keokuk, IA-IL-MO (FHA|USDA|VA) | 1 | $125,000 | $125,000 | $1,711 | 2.88% |
Platteville, WI (FHA|USDA|VA) | 1 | $125,000 | $125,000 | $1,612 | 3.25% |
CAPE GIRARDEAU, MO-IL (FHA|USDA|VA) | 1 | $105,000 | $105,000 | $1,245 | 2.88% |
MANKATO, MN (FHA|USDA|VA) | 1 | $105,000 | $105,000 | $1,925 | 3.38% |
Norfolk, NE (FHA|USDA|VA) | 1 | $95,000 | $95,000 | $1,461 | 3.00% |
GRAND ISLAND, NE (FHA|USDA|VA) | 1 | $75,000 | $75,000 | $0 | 3.35% |
ST. CLOUD, MN (FHA|USDA|VA) | 1 | $75,000 | $75,000 | $2,308 | 3.75% |
Baraboo, WI (FHA|USDA|VA) | 1 | $55,000 | $55,000 | $1,469 | 2.75% |
Similar Lenders
We use machine learning to identify the top lenders compared against VERIDIAN 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
For 2020, Veridian Credit Union's most frequently originated type of loan was Conventional, with 7,526 originations. Their 2nd most popular type was HELOC, with 2,579 originations.
Loan Reason
For 2020, Veridian Credit Union's most frequently cited loan purpose was Home Purchase, with 3,547 originations. The 2nd most popular reason was Refi, with 2,642 originations.
Loan Duration/Length
For 2020, Veridian Credit Union's most frequently cited loan duration was 30 Year, with 4,760 originations. The 2nd most popular length was Other, with 2,646 originations.
Origination Fees/Closing Costs
Veridian Credit Union's average total fees were $1,834, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 7,446 originations.
Interest Rates
During 2020, Veridian Credit Union's average interest rate for loans was 3.14%, while their most frequently originated rate bucket for loans was 3-4%, with 4,096 originations.
Loan Sizing
2020 saw Veridian Credit Union place emphasis on $100,000 or less loans with 4,383 originations, totaling $209,485,000 in origination value.
Applicant Income
Veridian Credit Union lent most frequently to those with incomes in the $100k-150k range, with 2,559 originations. The second most popular income band? $50k-75k, with 2,264 originations.
Applicant Debt to Income Ratio
Veridian Credit Union lent most frequently to those with DTI ratios of 20-30%, with 2,939 originations. The next most common DTI ratio? 30-36%, with 2,144 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications94.12%
Veridian Credit Union has an average approval rate.
Pick Rate
Approvals leading to origination78.67%
Veridian Credit Union has a below average pick rate.
Points and Fees
Points | Originations | Total Value | Average Loan |
---|---|---|---|
NA | 10,427 | $1,627,975,000 | $156,131 |