Thrive Fcu Mortgage Rates, Fees & Info
Muncie, INLEI: 549300LWP1GP6WN1YQ84
Tax ID: 35-0886351
Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data
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Mortgage Data
Review & Overview
Thrive Fcu is a smaller credit union specializing in Cash Out Refi and Refi loans. Thrive Fcu has a high proportion of conventional loans. Their top markets by origination volume include: Muncie, New Castle, Indianapolis, and Marion among others. We have data for 5 markets. (Some data included below & more in-depth data is available with an active subscription.)Thrive Fcu has an above average approval rate when compared to the average across all lenders. They have an above average pick rate when compared to similar lenders.
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Originations
61Origination Dollar Volume (All Markets)
$3,225,000Top 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 |
|---|---|---|---|---|---|
| MUNCIE, IN (FHA|USDA|VA) | 53 | $2,795,000 | $52,736 | $294 | 8.08% |
| New Castle, IN (FHA|USDA|VA) | 2 | $210,000 | $105,000 | $300 | 7.25% |
| Outside of Metro Areas | 4 | $110,000 | $27,500 | $300 | 8.00% |
| INDIANAPOLIS-CARMEL-ANDERSON, IN (FHA|USDA|VA) | 1 | $65,000 | $65,000 | $300 | 7.00% |
| Marion, IN (FHA|USDA|VA) | 1 | $45,000 | $45,000 | $300 | 7.25% |
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 61 | $3,225,000 | $52,869 | $295 | 8.02% |
For 2023, Thrive Fcu's most frequently originated type of loan was Conventional, with 61 originations.
Loan Reason
| Loan Reason | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Cash Out Refi | 36 | $1,840,000 | $51,111 | $292 | 8.18% |
| Refi | 16 | $990,000 | $61,875 | $300 | 7.64% |
| Home Improvement | 9 | $395,000 | $43,889 | $300 | 8.03% |
For 2023, Thrive Fcu's most frequently cited loan purpose was Cash Out Refi, with 36 originations. The 2nd most popular reason was Refi, with 16 originations.
Loan Duration/Length
For 2023, Thrive Fcu's most frequently cited loan duration was 15 Year, with 41 originations. The 2nd most popular length was 10 Year, with 13 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 7-8% | 30 | $1,860,000 | $62,000 |
| Over 8% | 24 | $1,100,000 | $45,833 |
| 6-7% | 7 | $265,000 | $37,857 |
During 2023, Thrive Fcu's average interest rate for loans was 0.00%, while their most frequently originated rate bucket for loans was 7-8%, with 30 originations.
Loan Sizing
| Loan Size | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| $100,000 or less | 55 | $2,415,000 | $43,909 | $295 | 8.04% |
| $100k-200k | 6 | $810,000 | $135,000 | $300 | 7.83% |
2023 saw Thrive Fcu place emphasis on $100,000 or less loans with 55 originations, totaling $2,415,000 in origination value.
Applicant Income
Thrive Fcu lent most frequently to those with incomes in the $50k-75k range, with 19 originations. The second most popular income band? $50k or less, with 18 originations.
Applicant Debt to Income Ratio
Thrive Fcu lent most frequently to those with DTI ratios of 20-30%, with 19 originations. The next most common DTI ratio? <20%, with 13 originations.
Ethnicity Mix
| Applicant Ethnicity | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| White | 58 | $3,130,000 | $53,966 | $300 | 8.04% |
| Black | 3 | $95,000 | $31,667 | $200 | 7.50% |
Approval Rates
Total approvals of all applications100.00%
Thrive Fcu has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.
Pick Rate
Approvals leading to origination98.36%
Thrive Fcu 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 | 61 | $3,225,000 | $52,869 |