Veridian Credit Union Mortgage Rates, Fees & Info

Waterloo, IA

LEI: 549300KER3YVZ3U5RK57

Tax ID: 42-1132695

Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data

Jump to:

  • SimulatedRates™
  • Mortgage Calculator

    • Mortgage Data

  • Originations
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • Similar Lenders
  • Loan Length
  • Loan to Value Info
  • Debt-to-Income
  • Applicant Income
  • Ethnicity Info
  • Approval & Pick Rates
  • Points and Fees
  • Origination Fees (Closing Costs)

    • Review & Overview

    Veridian Credit Union is a small credit union specializing in Home Purchase loans. Veridian Credit Union has a high proportion of conventional loans. Their top markets by origination volume include: Des Moines, Omaha, Waterloo, Cedar Rapids, and Ames among others. We have data for 52 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.

    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
    Home Equity Line of Credit (HELOC) 6.27% 4/28/24
    30 Year Conventional Purchase 6.48% 4/28/24
    30 Year Conventional Refi 6.31% 4/28/24
    30 Year Cash-out Refi 6.53% 4/28/24
    30 Year VA Purchase 5.74% 4/28/24
    30 Year VA Refi 5.65% 4/28/24
    15 Year Conventional Purchase 5.71% 4/28/24
    15 Year Conventional Refi 5.76% 4/28/24
    15 Year Cash-out Refi 5.76% 4/28/24
    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

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

    This is not an official calculator from Veridian 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

    8,650

    Origination Dollar Volume (All Markets)

    $1,272,380,000
    Show all (25) awards

    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) 2,578 $430,630,000 $167,040 $1,322 4.56%
    OMAHA-COUNCIL BLUFFS, NE-IA (FHA|USDA|VA) 1,708 $356,540,000 $208,747 $1,818 4.52%
    WATERLOO-CEDAR FALLS, IA (FHA|USDA|VA) 2,154 $209,080,000 $97,066 $1,177 4.76%
    Outside of Metro Areas 1,010 $100,130,000 $99,139 $1,316 4.62%
    CEDAR RAPIDS, IA (FHA|USDA|VA) 662 $73,350,000 $110,801 $1,173 4.68%
    AMES, IA (FHA|USDA|VA) 122 $17,920,000 $146,885 $2,366 4.59%
    GRAND ISLAND, NE (FHA|USDA|VA) 1 $17,835,000 $17,835,000 $0 3.62%
    IOWA CITY, IA (FHA|USDA|VA) 133 $17,685,000 $132,970 $1,265 4.41%
    SHERMAN-DENISON, TX (FHA|USDA|VA) 1 $8,515,000 $8,515,000 $0 6.04%
    MINNEAPOLIS-ST. PAUL-BLOOMINGTON, MN-WI (FHA|USDA|VA) 15 $5,015,000 $334,333 $3,178 4.76%
    Pella, IA (FHA|USDA|VA) 33 $4,955,000 $150,152 $1,136 4.66%
    LINCOLN, NE (FHA|USDA|VA) 33 $3,875,000 $117,424 $1,045 4.90%
    DAVENPORT-MOLINE-ROCK ISLAND, IA-IL (FHA|USDA|VA) 16 $3,230,000 $201,875 $1,598 3.86%
    Marshalltown, IA (FHA|USDA|VA) 34 $3,110,000 $91,471 $1,156 4.49%
    Mason City, IA (FHA|USDA|VA) 20 $2,360,000 $118,000 $1,142 4.92%
    Fremont, NE (FHA|USDA|VA) 13 $1,605,000 $123,462 $1,581 4.40%
    Spirit Lake, IA (FHA|USDA|VA) 10 $1,600,000 $160,000 $943 4.71%
    SIOUX CITY, IA-NE-SD (FHA|USDA|VA) 14 $1,350,000 $96,429 $1,082 4.73%
    DUBUQUE, IA (FHA|USDA|VA) 11 $1,285,000 $116,818 $1,045 4.20%
    Clinton, IA (FHA|USDA|VA) 6 $1,160,000 $193,333 $1,678 4.64%
    Oskaloosa, IA (FHA|USDA|VA) 10 $860,000 $86,000 $656 5.02%
    Muscatine, IA (FHA|USDA|VA) 6 $800,000 $133,333 $816 5.69%
    KANSAS CITY, MO-KS (FHA|USDA|VA) 3 $765,000 $255,000 $2,123 3.75%
    Chicago-Naperville-Elgin, IL-IN-WI (FHA|USDA|VA) 3 $745,000 $248,333 $5,353 4.71%
    Brainerd, MN (FHA|USDA|VA) 2 $720,000 $360,000 $2,630 3.94%
    MILWAUKEE-WAUKESHA, WI (FHA|USDA|VA) 2 $620,000 $310,000 $1,643 4.13%
    Ottumwa, IA (FHA|USDA|VA) 6 $580,000 $96,667 $1,313 4.06%
    COLUMBIA, MO (FHA|USDA|VA) 2 $550,000 $275,000 $1,731 4.88%
    Fort Dodge, IA (FHA|USDA|VA) 8 $540,000 $67,500 $1,091 5.12%
    ST. CLOUD, MN (FHA|USDA|VA) 1 $415,000 $415,000 $3,310 4.50%
    ST. LOUIS, MO-IL (FHA|USDA|VA) 2 $410,000 $205,000 $1,855 3.94%
    Burlington, IA-IL (FHA|USDA|VA) 5 $395,000 $79,000 $1,768 4.86%
    LA CROSSE-ONALASKA, WI-MN (FHA|USDA|VA) 1 $355,000 $355,000 $1,721 5.00%
    RAPID CITY, SD (FHA|USDA|VA) 1 $305,000 $305,000 $2,859 5.13%
    Kirksville, MO (FHA|USDA|VA) 2 $260,000 $130,000 $1,349 5.38%
    Storm Lake, IA (FHA|USDA|VA) 2 $250,000 $125,000 $1,723 6.81%
    SIOUX FALLS, SD (FHA|USDA|VA) 1 $235,000 $235,000 $1,786 6.38%
    Fairfield, IA (FHA|USDA|VA) 2 $230,000 $115,000 $0 6.50%
    CHAMPAIGN-URBANA, IL (FHA|USDA|VA) 1 $225,000 $225,000 $1,368 4.25%
    Yankton, SD (FHA|USDA|VA) 1 $205,000 $205,000 $2,220 4.13%
    DULUTH, MN-WI (FHA|USDA|VA) 1 $195,000 $195,000 $1,800 3.25%
    Hastings, NE (FHA|USDA|VA) 1 $195,000 $195,000 $1,784 3.63%
    Columbus, NE (FHA|USDA|VA) 1 $195,000 $195,000 $0 3.60%
    BLOOMINGTON, IL (FHA|USDA|VA) 2 $170,000 $85,000 $0 5.94%
    GREEN BAY, WI (FHA|USDA|VA) 1 $165,000 $165,000 $0 3.75%
    Spencer, IA (FHA|USDA|VA) 1 $145,000 $145,000 $1,576 5.00%
    Carroll, IA (FHA|USDA|VA) 3 $135,000 $45,000 $0 4.75%
    Norfolk, NE (FHA|USDA|VA) 1 $135,000 $135,000 $1,845 3.88%
    Freeport, IL (FHA|USDA|VA) 1 $105,000 $105,000 $0 6.00%
    Jacksonville, IL (FHA|USDA|VA) 1 $95,000 $95,000 $1,778 3.88%
    Ottawa, IL (FHA|USDA|VA) 1 $85,000 $85,000 $1,843 4.00%
    OSHKOSH-NEENAH, WI (FHA|USDA|VA) 1 $65,000 $65,000 $1,835 4.50%
    Veridian Credit Union's top markets include Des Moines, Omaha, Waterloo, Cedar Rapids, and Ames among others.

    Their top states include:
  • Iowa (FHA|USDA|VA)
  • Nebraska (FHA|USDA|VA)
  • Texas (FHA|USDA|VA)
  • Minnesota (FHA|USDA|VA)
  • Missouri (FHA|USDA|VA)

    • 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.

    U.S. HOME MORTGAGE, INC.
    Similarity Rank: 91
    FIRST
    Similarity Rank: 144
    I. H. MISSISSIPPI VALLEY CREDIT UNION
    Similarity Rank: 150
    METRO CU
    Similarity Rank: 176
    MEMBERS1st Community Credit Union
    Similarity Rank: 196
    Community Savings Bank
    Similarity Rank: 200
    CENTRIS FEDERAL CREDIT UNION
    Similarity Rank: 225
    FINANCIAL PLUS Credit Union
    Similarity Rank: 236
    Farmers & Merchants Savings Bank
    Similarity Rank: 240
    Hills Bank and Trust Company
    Similarity Rank: 247

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 5,380 $1,044,700,000 $194,182 $1,278 4.52%
    HELOC 3,147 $193,925,000 $61,622 n/a 4.81%
    VA 123 $33,755,000 $274,431 $5,489 3.93%

    For 2022, Veridian Credit Union's most frequently originated type of loan was Conventional, with 5,380 originations. Their 2nd most popular type was HELOC, with 3,147 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 3,654 $682,090,000 $186,669 $1,718 4.66%
    Home Improvement 1,814 $140,240,000 $77,310 $248 4.80%
    Other 1,725 $201,705,000 $116,930 $122 4.91%
    Refi 954 $113,710,000 $119,193 $764 3.96%
    Cash Out Refi 503 $134,635,000 $267,664 $1,797 3.92%

    For 2022, Veridian Credit Union's most frequently cited loan purpose was Home Purchase, with 3,654 originations. The 2nd most popular reason was Home Improvement, with 1,814 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 3,196 $284,730,000 $89,089 $509 4.79%
    30 Year 3,141 $660,755,000 $210,365 $2,062 4.41%
    10 Year 1,293 $105,545,000 $81,628 $122 4.78%
    15 Year 626 $76,750,000 $122,604 $1,088 4.53%
    5 Year 227 $96,935,000 $427,026 $133 4.43%
    30+ year 83 $37,915,000 $456,807 $3,179 4.02%
    20 Year 80 $9,370,000 $117,125 $796 5.29%
    3 Year 3 $305,000 $101,667 $1,926 4.67%
    1 Year 1 $75,000 $75,000 $1,165 4.63%

    For 2022, Veridian Credit Union's most frequently cited loan duration was Other, with 3,196 originations. The 2nd most popular length was 30 Year, with 3,141 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 5,018 $776,840,000 $154,811
    $1k-2k 62 $17,330,000 $279,516
    $2k-3k 33 $11,555,000 $350,152
    $4k-5k 26 $9,940,000 $382,308
    $3k-4k 23 $7,165,000 $311,522
    $5k+ 21 $11,275,000 $536,905

    Veridian Credit Union's average total fees were $2,062, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 5,018 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    3-4% 2,948 $541,900,000 $183,820
    4-5% 2,494 $363,370,000 $145,698
    5-6% 1,622 $141,560,000 $87,275
    6-7% 874 $98,120,000 $112,265
    2.5-3% 346 $86,490,000 $249,971
    7-8% 230 $15,250,000 $66,304
    <2.5% 102 $23,790,000 $233,235
    Over 8% 34 $1,900,000 $55,882

    During 2022, Veridian Credit Union's average interest rate for loans was 4.41%, while their most frequently originated rate bucket for loans was 3-4%, with 2,948 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 5,090 $252,350,000 $49,578 $483 4.84%
    $100k-200k 1,817 $261,105,000 $143,701 $1,673 4.45%
    $200k-400k 1,445 $400,195,000 $276,952 $2,139 4.20%
    $400k-600k 231 $108,155,000 $468,203 $2,906 3.89%
    $600k-1MM 49 $33,205,000 $677,653 $4,441 3.78%
    $1MM+ 18 $217,370,000 $12,076,111 $5,082 4.25%

    2022 saw Veridian Credit Union place emphasis on $100,000 or less loans with 5,090 originations, totaling $252,350,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 2,085 $296,165,000 $142,046 $1,545 4.64%
    $50k-75k 1,955 $192,675,000 $98,555 $1,294 4.60%
    $50k or less 1,581 $113,765,000 $71,958 $1,154 4.62%
    $75k-100k 1,506 $182,370,000 $121,096 $1,297 4.68%
    $150k-250k 1,157 $203,365,000 $175,769 $1,646 4.58%
    $250k+ 249 $68,995,000 $277,088 $2,295 4.51%

    Veridian Credit Union lent most frequently to those with incomes in the $100k-150k range, with 2,085 originations. The second most popular income band? $50k-75k, with 1,955 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 2,173 $251,805,000 $115,879 $1,340 4.49%
    30-36% 1,790 $215,250,000 $120,251 $1,344 4.65%
    <20% 717 $78,005,000 $108,794 $1,245 4.25%
    40% 381 $46,305,000 $121,535 $1,266 4.68%
    44% 356 $44,030,000 $123,680 $1,292 4.96%
    43% 350 $45,690,000 $130,543 $1,495 4.81%
    42% 344 $40,880,000 $118,837 $1,194 4.85%
    39% 340 $40,500,000 $119,118 $1,359 4.76%
    41% 338 $41,390,000 $122,456 $1,293 4.85%
    37% 338 $40,640,000 $120,237 $1,316 4.77%
    38% 327 $38,845,000 $118,792 $1,255 4.75%
    36% 277 $33,605,000 $121,318 $1,287 4.59%
    45% 193 $25,725,000 $133,290 $1,750 4.72%
    50-60% 144 $26,910,000 $186,875 $2,300 4.68%
    46% 140 $21,380,000 $152,714 $1,712 4.68%
    49% 140 $25,780,000 $184,143 $1,819 4.45%
    48% 128 $19,090,000 $149,141 $1,846 4.51%
    47% 111 $21,355,000 $192,387 $1,731 4.54%
    >60% 25 $3,885,000 $155,400 $1,919 4.45%

    Veridian Credit Union lent most frequently to those with DTI ratios of 20-30%, with 2,173 originations. The next most common DTI ratio? 30-36%, with 1,790 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 7,435 $855,855,000 $115,112 $1,316 4.64%
    Not applicable 29 $210,315,000 $7,252,241 $0 4.67%
    Not provided 569 $100,515,000 $176,652 $1,639 4.40%
    Asian 283 $60,165,000 $212,597 $1,931 4.40%
    Black 226 $24,380,000 $107,876 $1,324 4.99%
    Asian Indian 50 $14,270,000 $285,400 $2,388 3.88%
    American Indian 34 $3,740,000 $110,000 $1,460 4.63%
    Vietnamese 2 $760,000 $380,000 $1,298 3.88%
    Native Hawaiian or Islander 7 $755,000 $107,857 $1,111 4.33%
    Other Asian 4 $720,000 $180,000 $1,708 5.00%
    9 $615,000 $68,333 $382 4.90%
    Chinese 1 $285,000 $285,000 $2,414 3.63%
    Native Hawaiian 1 $5,000 $5,000 $0 5.50%

    Approval Rates

    Total approvals of all applications
    93.21%

    Veridian Credit Union has an average approval rate.

    Pick Rate

    Approvals leading to origination
    83.56%

    Veridian Credit Union has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 8,650 $1,272,380,000 $147,096

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    8,650 $1,272,380,000 $147,096

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 1,966 $132,970,000 $67,635 $262 4.96%
    40-60% 671 $129,515,000 $193,018 $1,189 4.24%
    60-80% 1,609 $467,785,000 $290,730 $1,812 4.24%
    80-100% 1,834 $432,530,000 $235,840 $2,126 4.39%
    Over 100% 19 $5,505,000 $289,737 $9,784 4.57%
    Under 20% 2,550 $103,860,000 $40,729 $102 4.86%