Heartland Credit Union (madison) Mortgage Rates, Fees & InfoMadison, WI
Tax ID: 39-0716655
Latest/2022 | 2021 Data | 2020 Data | 2019 Data | 2018 Data
Review & OverviewHeartland Credit Union (madison) is a smaller credit union specializing in Home Purchase loans. Heartland Credit Union (madison) has a high proportion of conventional loans. Their top markets by origination volume include: Madison, Platteville, Milwaukee, Baraboo, and Janesville among others. We have data for 14 markets. (Some data included below & more in-depth data is available with an active subscription.)
Heartland Credit Union (madison) 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. Heartland Credit Union (madison) 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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|Simulated Rate||Simulation Date|
|30 Year Conventional Purchase||6.23%||4/2/23|
|30 Year Conventional Refi||6.39%||4/2/23|
|30 Year Cash-out Refi||6.32%||4/2/23|
|15 Year Conventional Purchase||5.69%||4/2/23|
|15 Year Conventional Refi||5.98%||4/2/23|
|15 Year Cash-out Refi||5.98%||4/2/23|
|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.|
Heartland Credit Union (madison) Mortgage Calculator
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This is not an official calculator from Heartland Credit Union (madison). It uses our SimulatedRate™
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Origination Dollar Volume (All Markets)$49,955,000
Heartland Credit Union (madison)'s average 30 year fixed mortgage rate was
The 2022 average 30 year fixed rate mortgage across all markets and lenders was 4.76%.
This yields a difference of -0.11%.
Relative Fees (Closing Costs)
Heartland Credit Union (madison)'s average total fees/closing costs for a 30 year fixed rate
mortgage were $2,882.
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 $4,750.
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|
|MADISON, WI (FHA|USDA|VA)||164||$33,990,000||$207,256||$1,953||4.38%|
|Outside of Metro Areas||21||$4,205,000||$200,238||$1,874||4.12%|
|Platteville, WI (FHA|USDA|VA)||29||$3,695,000||$127,414||$1,751||4.15%|
|MILWAUKEE-WAUKESHA, WI (FHA|USDA|VA)||4||$1,850,000||$462,500||$3,201||4.66%|
|Baraboo, WI (FHA|USDA|VA)||8||$1,750,000||$218,750||$3,511||4.11%|
|JANESVILLE-BELOIT, WI (FHA|USDA|VA)||12||$1,640,000||$136,667||$1,801||4.57%|
|Watertown-Fort Atkinson, WI (FHA|USDA|VA)||3||$1,105,000||$368,333||$1,825||4.79%|
|Beaver Dam, WI (FHA|USDA|VA)||3||$785,000||$261,667||$349||4.00%|
|Chicago-Naperville-Elgin, IL-IN-WI (FHA|USDA|VA)||2||$280,000||$140,000||$1,119||3.50%|
|APPLETON, WI (FHA|USDA|VA)||1||$225,000||$225,000||$3,415||6.13%|
|LA CROSSE-ONALASKA, WI-MN (FHA|USDA|VA)||1||$215,000||$215,000||$4,699||5.00%|
|DULUTH, MN-WI (FHA|USDA|VA)||1||$115,000||$115,000||$289||3.19%|
|Wisconsin Rapids-Marshfield, WI (FHA|USDA|VA)||1||$65,000||$65,000||$0||4.50%|
|FOND DU LAC, WI (FHA|USDA|VA)||1||$35,000||$35,000||$124||5.24%|
We use machine learning to identify the top lenders compared against Heartland Credit Union (Madison) based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.
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|Loan Type||Originations||Total Value||Avg. Loan||Avg. Fees||Avg. Rate|
For 2022, Heartland Credit Union (madison)'s most frequently originated type of loan was Conventional, with 249 originations. Their 2nd most popular type was HELOC, with 2 originations.
For 2022, Heartland Credit Union (madison)'s most frequently cited loan purpose was Home Purchase, with 120 originations. The 2nd most popular reason was Cash Out Refi, with 54 originations.
For 2022, Heartland Credit Union (madison)'s most frequently cited loan duration was 30 Year, with 124 originations. The 2nd most popular length was 10 Year, with 38 originations.
Origination Fees/Closing Costs
|Origination Fee/Closing Cost||Originations||Total Value||Average Loan|
Heartland Credit Union (madison)'s average total fees were $2,882, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 124 originations.
|Loan Rate||Originations||Total Value||Average Loan|
During 2022, Heartland Credit Union (madison)'s average interest rate for loans was 4.65%, while their most frequently originated rate bucket for loans was 4-5%, with 80 originations.
2022 saw Heartland Credit Union (madison) place emphasis on $100k-200k loans with 87 originations, totaling $12,685,000 in origination value.
Heartland Credit Union (madison) lent most frequently to those with incomes in the $100k-150k range, with 68 originations. The second most popular income band? $50k-75k, with 46 originations.
Applicant Debt to Income Ratio
Heartland Credit Union (madison) lent most frequently to those with DTI ratios of 20-30%, with 68 originations. The next most common DTI ratio? 30-36%, with 60 originations.
Approval RatesTotal approvals of all applications
Heartland Credit Union (madison) has an average approval rate.
Pick RateApprovals leading to origination
Heartland Credit Union (madison) has a below average pick rate.
Points and Fees
|Points||Originations||Total Value||Average Loan|