Isu Federal Credit Union Mortgage Rates, Fees & Info
Terre Haute, INLEI: 549300KILAW2M87QR043
Tax ID: 35-1049024
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Mortgage Data
Review & Overview
Isu Federal Credit Union is a smaller credit union specializing in Home Purchase loans. Isu Federal Credit Union has a high proportion of conventional loans. Their top (well, only) market is Terre Haute.Isu Federal Credit Union has an average approval rate when compared to the average across all lenders. They have an above average pick rate when compared to similar lenders. Isu Federal 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 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.
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Originations
76Origination Dollar Volume (All Markets)
$5,510,000Relative Rate
Isu Federal Credit Union's average 30 year fixed mortgage rate was
7.44%.
The 2023 average 30 year fixed rate mortgage across all markets and lenders was 6.48%.
This yields a difference of 0.96%.
Relative Fees (Closing Costs)
Isu Federal Credit Union's average total fees/closing costs for a 30 year fixed rate
mortgage were $2,118.
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 |
|---|---|---|---|---|---|
| Outside of Metro Areas | 54 | $3,060,000 | $56,667 | $800 | 6.99% |
| TERRE HAUTE, IN (FHA|USDA|VA) | 22 | $2,450,000 | $111,364 | $1,345 | 6.71% |
Similar Lenders
We use machine learning to identify the top lenders compared against ISU Federal Credit Union based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.
Similarity Rank: 20
Similarity Rank: 533
Similarity Rank: 1624
Similarity Rank: 1799
Similarity Rank: 2754
Similarity Rank: 3072
Similarity Rank: 3399
Similarity Rank: 4806
Similarity Rank: 6192
Similarity Rank: 6321
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 76 | $5,510,000 | $72,500 | $958 | 6.91% |
For 2023, Isu Federal Credit Union's most frequently originated type of loan was Conventional, with 76 originations.
Loan Reason
For 2023, Isu Federal Credit Union's most frequently cited loan purpose was Home Purchase, with 34 originations. The 2nd most popular reason was Other, with 24 originations.
Loan Duration/Length
For 2023, Isu Federal Credit Union's most frequently cited loan duration was 5 Year, with 21 originations. The 2nd most popular length was 20 Year, with 19 originations.
Origination Fees/Closing Costs
| Origination Fee/Closing Cost | Originations | Total Value | Average Loan |
|---|---|---|---|
| $<1k | 76 | $5,510,000 | $72,500 |
Isu Federal Credit Union's average total fees were $2,118, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 76 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 6-7% | 35 | $2,955,000 | $84,429 |
| 7-8% | 26 | $1,820,000 | $70,000 |
| 5-6% | 11 | $625,000 | $56,818 |
| Over 8% | 4 | $110,000 | $27,500 |
During 2023, Isu Federal Credit Union's average interest rate for loans was 7.44%, while their most frequently originated rate bucket for loans was 6-7%, with 35 originations.
Loan Sizing
2023 saw Isu Federal Credit Union place emphasis on $100,000 or less loans with 60 originations, totaling $2,450,000 in origination value.
Applicant Income
Isu Federal Credit Union lent most frequently to those with incomes in the $100k-150k range, with 21 originations. The second most popular income band? $50k-75k, with 19 originations.
Applicant Debt to Income Ratio
Isu Federal Credit Union lent most frequently to those with DTI ratios of 20-30%, with 11 originations. The next most common DTI ratio? <20%, with 10 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications87.50%
Isu Federal Credit Union has an average approval rate.
Pick Rate
Approvals leading to origination97.37%
Isu Federal Credit Union has an exceptionally high pick rate. They most likely have borrower friendly terms or other characteristics like being fast to close or are easy to work with.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 76 | $5,510,000 | $72,500 |