Trustone Financial Federal Credit Union Mortgage Rates, Fees & Info

Plymouth, MN

LEI: 549300LG07PXWSIMC813

Tax ID: 41-0749255

5 stars - out of 5 stars, based on 88 reviews

2021 Data | 2020 Data | 2019 Data | 2018 Data


Overview

Trustone Financial Federal Credit Union is a small credit union specializing in Refi, Home Purchase, and Cash Out Refi loans. Trustone Financial Federal Credit Union has a high proportion of conventional loans. They have a a low proportion of FHA loans. (This may mean they shy away from first time homebuyers.) They have a low ratio of USDA loans. Their top markets include Minneapolis, Milwaukee, Chicago, St. Cloud, and Racine among others. Trustone Financial Federal Credit Union has an average approval rate for mortages when compared nationally. They have a below average pick rate when compared to the same sample of other lendors. Trustone Financial Federal Credit Union is typically an average fee lendor.


Originations

7,765

Origination Dollar Volume (All Markets)

$1,363,445,000
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Relative Rate

Trustone Financial Federal Credit Union's average 30 year fixed rate mortgage of loans were 3.03%.

The 2021 average 30 year fixed rate mortgage across all markets of loans were 3.15%.

This yields a difference of -0.12%.

Relative Fees

Trustone Financial Federal Credit Union's average total fees for a 30 year fixed rate mortgage are $3,433.

The average total origination fees for 30 year fixed rate mortgages (for all loan values, including both points & up-front fees in addition to origination fees) are $4,750.

Top Markets

Market Originations Total Value Average Loan Average Fees Average Rate
MINNEAPOLIS-ST. PAUL-BLOOMINGTON, MN-WI (FHA|USDA|VA) 6,429 $1,164,695,000 $181,163 $2,594 3.43%
MILWAUKEE-WAUKESHA, WI (FHA|USDA|VA) 300 $41,520,000 $138,400 $1,369 3.74%
Chicago-Naperville-Elgin, IL-IN-WI (FHA|USDA|VA) 275 $35,305,000 $128,382 $2,337 3.19%
Outside of Metro Areas 147 $21,795,000 $148,265 $2,597 3.29%
ST. CLOUD, MN (FHA|USDA|VA) 129 $17,285,000 $133,992 $2,997 3.38%
RACINE, WI (FHA|USDA|VA) 82 $12,820,000 $156,341 $2,220 3.22%
Brainerd, MN (FHA|USDA|VA) 59 $11,855,000 $200,932 $3,109 3.26%
Faribault-Northfield, MN (FHA|USDA|VA) 76 $11,040,000 $145,263 $2,434 3.47%
DULUTH, MN-WI (FHA|USDA|VA) 43 $8,245,000 $191,744 $2,883 3.26%
Red Wing, MN (FHA|USDA|VA) 23 $4,085,000 $177,609 $2,604 3.23%
ROCHESTER, MN (FHA|USDA|VA) 20 $2,760,000 $138,000 $2,546 2.97%
Grand Rapids, MN (FHA|USDA|VA) 14 $2,470,000 $176,429 $2,864 3.26%
Alexandria, MN (FHA|USDA|VA) 10 $2,400,000 $240,000 $3,034 3.33%
TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) 9 $2,375,000 $263,889 $3,795 3.01%
Willmar, MN (FHA|USDA|VA) 12 $2,300,000 $191,667 $3,266 3.22%
CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) 8 $2,040,000 $255,000 $4,472 2.80%
MCALLEN-EDINBURG-MISSION, TX (FHA|USDA|VA) 1 $2,025,000 $2,025,000 $0 3.34%
Hutchinson, MN (FHA|USDA|VA) 16 $1,670,000 $104,375 $2,006 3.77%
Fergus Falls, MN (FHA|USDA|VA) 11 $1,495,000 $135,909 $2,737 2.86%
EAU CLAIRE, WI (FHA|USDA|VA) 10 $1,400,000 $140,000 $2,510 3.32%
MADISON, WI (FHA|USDA|VA) 7 $1,135,000 $162,143 $1,776 3.32%
Whitewater, WI (FHA|USDA|VA) 8 $1,050,000 $131,250 $2,209 3.39%
MANKATO, MN (FHA|USDA|VA) 8 $970,000 $121,250 $2,004 2.98%
NAPLES-MARCO ISLAND, FL (FHA|USDA|VA) 3 $885,000 $295,000 $3,763 3.04%
Bemidji, MN (FHA|USDA|VA) 3 $825,000 $275,000 $3,782 2.83%
WAUSAU-WESTON, WI (FHA|USDA|VA) 3 $785,000 $261,667 $1,852 3.04%
Marshall, MN (FHA|USDA|VA) 5 $765,000 $153,000 $2,175 2.32%
North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) 3 $655,000 $218,333 $4,206 3.00%
Owatonna, MN (FHA|USDA|VA) 4 $600,000 $150,000 $2,627 3.34%
Winona, MN (FHA|USDA|VA) 4 $570,000 $142,500 $2,459 3.19%
Watertown-Fort Atkinson, WI (FHA|USDA|VA) 4 $560,000 $140,000 $1,893 3.72%
LAKELAND-WINTER HAVEN, FL (FHA|USDA|VA) 2 $430,000 $215,000 $1,728 3.92%
ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) 3 $385,000 $128,333 $2,949 3.00%
SHEBOYGAN, WI (FHA|USDA|VA) 4 $370,000 $92,500 $2,145 3.96%
DES MOINES-WEST DES MOINES, IA (FHA|USDA|VA) 1 $355,000 $355,000 $0 3.69%
FOND DU LAC, WI (FHA|USDA|VA) 1 $345,000 $345,000 $2,074 2.75%
FARGO, ND-MN (FHA|USDA|VA) 2 $340,000 $170,000 $3,655 3.31%
GREEN BAY, WI (FHA|USDA|VA) 2 $340,000 $170,000 $1,678 3.23%
PALM BAY-MELBOURNE-TITUSVILLE, FL (FHA|USDA|VA) 1 $255,000 $255,000 $4,955 3.38%
Beaver Dam, WI (FHA|USDA|VA) 2 $250,000 $125,000 $807 4.12%
PHOENIX-MESA-CHANDLER, AZ (FHA|USDA|VA) 2 $230,000 $115,000 $1,219 3.07%
GAINESVILLE, FL (FHA|USDA|VA) 1 $215,000 $215,000 $1,350 2.88%
GRAND FORKS, ND-MN (FHA|USDA|VA) 2 $210,000 $105,000 $4,426 2.81%
OSHKOSH-NEENAH, WI (FHA|USDA|VA) 2 $210,000 $105,000 $2,383 2.56%
Fairmont, MN (FHA|USDA|VA) 1 $205,000 $205,000 $0 3.25%
Baraboo, WI (FHA|USDA|VA) 1 $175,000 $175,000 $5,232 2.50%
LA CROSSE-ONALASKA, WI-MN (FHA|USDA|VA) 2 $160,000 $80,000 $1,496 3.63%
Sebastian-Vero Beach, FL (FHA|USDA|VA) 1 $135,000 $135,000 $6,773 2.50%
Wisconsin Rapids-Marshfield, WI (FHA|USDA|VA) 2 $130,000 $65,000 $0 4.75%
ATLANTA-SANDY SPRINGS-ALPHARETTA, GA (FHA|USDA|VA) 1 $105,000 $105,000 $172 3.00%
Austin, MN (FHA|USDA|VA) 1 $75,000 $75,000 $162 3.00%
Albert Lea, MN (FHA|USDA|VA) 2 $60,000 $30,000 $333 4.55%
JANESVILLE-BELOIT, WI (FHA|USDA|VA) 1 $35,000 $35,000 $0 5.00%
Stevens Point, WI (FHA|USDA|VA) 1 $35,000 $35,000 $0 4.75%
APPLETON, WI (FHA|USDA|VA) 1 $15,000 $15,000 $0 4.50%

Trustone Financial Federal Credit Union's top markets include Minneapolis, Milwaukee, Chicago, St. Cloud, and Racine among others.

Product Mix

Loan Type Originations Total Value Average Loan Average Fees Average Rate
Conventional 7,577 $1,315,725,000 $173,647 $2,402 3.43%
FHA 134 $33,860,000 $252,687 $7,876 2.94%
VA 50 $13,090,000 $261,800 $4,485 2.62%
USDA 4 $770,000 $192,500 $5,662 2.25%

For the 2021 period, Trustone Financial Federal Credit Union's most frequently originated loan type of loans were Conventional, with 7,577 originations. Their 2nd most popular type is FHA, with 134 originations.

Loan Reason

Loan Reason Originations Total Value Average Loan Average Fees Average Rate
Refi 2,114 $442,040,000 $209,101 $2,349 3.15%
Home Purchase 1,791 $441,895,000 $246,731 $3,488 3.11%
Home Improvement 1,612 $118,040,000 $73,226 $472 3.98%
Cash Out Refi 1,179 $276,145,000 $234,220 $3,295 2.99%
Other 1,069 $85,325,000 $79,818 $391 4.09%

For the 2021, Trustone Financial Federal Credit Union's most frequently cited loan purpose of loans were Refi, with 2,114 originations. The 2nd most popular reason of loans were Home Purchase, with 1,791 originations.

Loan Duration/Length

Loan Length Originations Total Value Average Loan Average Fees Average Rate
10 Year 2,729 $263,495,000 $96,554 $1,082 3.86%
30 Year 2,724 $708,470,000 $260,084 $3,433 3.03%
15 Year 1,078 $223,770,000 $207,579 $2,399 2.91%
20 Year 1,030 $145,610,000 $141,369 $1,533 3.82%
5 Year 176 $9,140,000 $51,932 $329 3.30%
Other 28 $12,960,000 $462,857 $1,399 3.50%

For the 2021, Trustone Financial Federal Credit Union's most frequently cited loan length of loans were 10 Year, with 2,729 originations. The 2nd most popular length of loans were 30 Year, with 2,724 originations.

Origination Fees

Origination Fee Originations Total Value Average Loan
$<1k 2,680 $428,520,000 $159,896
$1k-2k 1,853 $411,945,000 $222,312
$2k-3k 474 $123,170,000 $259,852
$3k-4k 270 $76,240,000 $282,370
$5k+ 61 $25,695,000 $421,230

$3,433 of loans were Trustone Financial Federal Credit Union's average total fees, while their most frequently occuring range of origination fees were in the $<1k bucket, with 2,680 originations.

Interest Rates

Loan Rate Originations Total Value Average Loan
3-4% 3,216 $586,170,000 $182,267
2.5-3% 2,090 $486,670,000 $232,856
4-5% 1,462 $126,910,000 $86,806
<2.5% 812 $150,720,000 $185,616
5-6% 171 $12,065,000 $70,556
6-7% 14 $910,000 $65,000

During 2021, Trustone Financial Federal Credit Union's average interest rate of loans were 3.03%, while their most frequently originated rate bucket of loans were 3-4%, with 3,216 originations.

Loan Sizing

Loan Size Originations Total Value Average Loan Average Fees Average Rate
$100,000 or less 2,785 $144,365,000 $51,837 $587 3.89%
$200k-400k 2,347 $639,405,000 $272,435 $3,489 3.08%
$100k-200k 2,243 $331,065,000 $147,599 $2,522 3.25%
$400k-600k 322 $150,820,000 $468,385 $4,169 3.08%
$600k-1MM 51 $35,635,000 $698,725 $4,234 3.29%
$1MM+ 17 $62,155,000 $3,656,176 $7,921 3.22%

2021 saw Trustone Financial Federal Credit Union place emphasis on $100,000 or less loans with 2,785 originations, totaling $144,365,000 in origination value.

Applicant Income

Applicant Income Originations Total Value Average Loan Average Fees Average Rate
$100k-150k 1,960 $330,670,000 $168,709 $2,530 3.46%
$150k-250k 1,582 $286,840,000 $181,315 $2,364 3.62%
$50k-75k 1,513 $232,255,000 $153,506 $2,723 3.20%
$75k-100k 1,357 $223,275,000 $164,536 $2,703 3.35%
$50k or less 655 $81,985,000 $125,168 $2,486 3.02%
$250k+ 649 $147,345,000 $227,034 $2,265 3.83%

Trustone Financial Federal Credit Union lent most frequently to those with incomes in the $100k-150k range, with 1,960 originations. The second most popular income band? $150k-250k, with 1,582 originations.

Applicant Debt to Income Ratio

DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
20-30% 2,212 $350,200,000 $158,318 $2,399 3.45%
30-36% 1,566 $263,540,000 $168,289 $2,412 3.51%
<20% 949 $147,835,000 $155,780 $2,218 3.34%
42% 310 $48,490,000 $156,419 $2,557 3.56%
40% 302 $49,470,000 $163,808 $2,604 3.59%
38% 283 $48,225,000 $170,406 $2,430 3.53%
41% 282 $45,930,000 $162,872 $2,398 3.46%
36% 266 $47,670,000 $179,211 $2,571 3.38%
37% 258 $42,210,000 $163,605 $2,690 3.53%
39% 236 $38,860,000 $164,661 $2,743 3.42%
44% 226 $44,460,000 $196,726 $2,930 3.13%
43% 216 $41,020,000 $189,907 $2,955 3.28%
46% 134 $29,080,000 $217,015 $3,322 3.21%
49% 118 $26,810,000 $227,203 $3,449 3.04%
47% 112 $25,280,000 $225,714 $3,381 2.92%
45% 105 $20,235,000 $192,714 $2,596 3.25%
48% 96 $22,090,000 $230,104 $3,619 2.95%
50-60% 59 $12,475,000 $211,441 $5,345 3.38%
>60% 14 $2,170,000 $155,000 $1,818 3.47%

Trustone Financial Federal Credit Union lent most frequently to those with DTI ratios of 20-30%, with 2,212 originations. The next most common DTI ratio? 30-36%, with 1,566 originations.

Ethnicity Mix

Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
White 6,580 $1,093,710,000 $166,217 $2,475 3.44%
Not provided 572 $107,700,000 $188,287 $2,983 3.32%
Not applicable 21 $57,165,000 $2,722,143 $0 3.64%
Black 305 $54,575,000 $178,934 $3,307 3.28%
Asian 228 $41,470,000 $181,886 $2,715 3.35%
American Indian 40 $6,360,000 $159,000 $2,900 3.34%
Native Hawaiian 11 $1,685,000 $153,182 $2,818 3.44%
Other Pacific Islander 4 $470,000 $117,500 $1,167 4.38%
Asian Indian 2 $180,000 $90,000 $358 3.75%
Other Asian 2 $130,000 $65,000 $0 3.56%

Approval Rates

Total approvals of all applications
86.62%

Trustone Financial Federal Credit Union has an average approval rate.

Pick Rate

Approvals leading to origination
76.81%

Trustone Financial Federal Credit Union has a below average pick rate.

Points and Fees

Points Originations Total Value Average Loan
NA 7,765 $1,363,445,000 $175,589

Occupancy Type Mix

Dwelling Type Originations Total Value Average Loan
7,765 $1,363,445,000 $175,589

LTV Distribution

Loan to Value Originations Total Value Average Loan Average Fees Average Rate
20-40% 1,170 $153,930,000 $131,564 $1,454 3.69%
40-60% 1,164 $263,330,000 $226,229 $2,568 2.95%
60-80% 1,808 $471,200,000 $260,619 $3,144 3.03%
80-100% 1,183 $336,105,000 $284,112 $4,061 3.05%
Over 100% 3 $905,000 $301,667 $11,458 2.92%
Under 20% 2,437 $137,975,000 $56,617 $371 3.98%

Complaints

Bank Name Product Issue 2021 CPFB Complaints % of Total Issues
TRUIST FINANCIAL CORPORATION Conventional home mortgage Applying for a mortgage or refinancing an existing mortgage 57 10.7%
TRUIST FINANCIAL CORPORATION Conventional home mortgage Closing on a mortgage 29 5.4%
TRUIST FINANCIAL CORPORATION Conventional home mortgage Improper use of your report 1 0.2%
TRUIST FINANCIAL CORPORATION Conventional home mortgage Incorrect information on your report 11 2.1%
TRUIST FINANCIAL CORPORATION Conventional home mortgage Problem with a credit reporting company's investigation into an existing problem 2 0.4%
TRUIST FINANCIAL CORPORATION Conventional home mortgage Struggling to pay mortgage 38 7.1%
TRUIST FINANCIAL CORPORATION Conventional home mortgage Trouble during payment process 244 45.6%
TRUIST FINANCIAL CORPORATION FHA mortgage Applying for a mortgage or refinancing an existing mortgage 7 1.3%
TRUIST FINANCIAL CORPORATION FHA mortgage Closing on a mortgage 4 0.7%
TRUIST FINANCIAL CORPORATION FHA mortgage Incorrect information on your report 2 0.4%
TRUIST FINANCIAL CORPORATION FHA mortgage Struggling to pay mortgage 18 3.4%
TRUIST FINANCIAL CORPORATION FHA mortgage Trouble during payment process 25 4.7%
TRUIST FINANCIAL CORPORATION Home equity loan or line of credit (HELOC) Applying for a mortgage or refinancing an existing mortgage 6 1.1%
TRUIST FINANCIAL CORPORATION Home equity loan or line of credit (HELOC) Closing on a mortgage 5 0.9%
TRUIST FINANCIAL CORPORATION Home equity loan or line of credit (HELOC) Incorrect information on your report 1 0.2%
TRUIST FINANCIAL CORPORATION Home equity loan or line of credit (HELOC) Struggling to pay mortgage 7 1.3%
TRUIST FINANCIAL CORPORATION Home equity loan or line of credit (HELOC) Trouble during payment process 18 3.4%
TRUIST FINANCIAL CORPORATION Other type of mortgage Applying for a mortgage or refinancing an existing mortgage 10 1.9%
TRUIST FINANCIAL CORPORATION Other type of mortgage Closing on a mortgage 6 1.1%
TRUIST FINANCIAL CORPORATION Other type of mortgage Improper use of your report 1 0.2%
TRUIST FINANCIAL CORPORATION Other type of mortgage Incorrect information on your report 1 0.2%
TRUIST FINANCIAL CORPORATION Other type of mortgage Struggling to pay mortgage 4 0.7%
TRUIST FINANCIAL CORPORATION Other type of mortgage Trouble during payment process 17 3.2%
TRUIST FINANCIAL CORPORATION VA mortgage Applying for a mortgage or refinancing an existing mortgage 6 1.1%
TRUIST FINANCIAL CORPORATION VA mortgage Struggling to pay mortgage 3 0.6%
TRUIST FINANCIAL CORPORATION VA mortgage Trouble during payment process 12 2.2%