Black Hills Federal Credit Union Mortgage Rates, Fees & Info
Rapid City, SDLEI: 549300M2Z8GR3VL0QQ74
Tax ID: 46-0235529
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Mortgage Data
Review & Overview
Black Hills Federal Credit Union is a smaller credit union specializing in Home Purchase loans. Black Hills Federal Credit Union has a high proportion of conventional loans. They have an average proportion of FHA loans. They have a low ratio of USDA loans. Their top markets by origination volume include: Rapid City, Spearfish, Sioux Falls, Pierre, and Billings among others. We have data for 34 markets. (Some data included below & more in-depth data is available with an active subscription.)Black Hills Federal Credit Union has an average approval rate when compared to the average across all lenders. They have a below average pick rate when compared to similar lenders. Black Hills 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 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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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| Home Equity Line of Credit (HELOC) | 6.72% | 7/13/25 |
| 30 Year Conventional Purchase | 6.72% | 7/13/25 |
| 30 Year Conventional Refi | 6.47% | 7/13/25 |
| 30 Year Cash-out Refi | 6.71% | 7/13/25 |
| 30 Year FHA Purchase | 6.86% | 7/13/25 |
| 30 Year VA Purchase | 5.93% | 7/13/25 |
| 30 Year VA Refi | 6.72% | 7/13/25 |
| 30 Year USDA Purchase | 6.36% | 7/13/25 |
| 15 Year Conventional Purchase | 6.61% | 7/13/25 |
| 15 Year Conventional Refi | 8.77% | 7/13/25 |
| 15 Year Cash-out Refi | 8.77% | 7/13/25 |
| 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. | ||
Black Hills Federal Credit Union Mortgage Calculator
Your Estimates
Estimated Loan Payment: Update the calculator values and click calculate payment!
This is not an official calculator from Black Hills Federal 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
1,019Origination Dollar Volume (All Markets)
$180,885,000Awards
BLACK HILLS FEDERAL CREDIT UNION - 2024
BLACK HILLS FEDERAL CREDIT UNION is a 2024 , due to their low .
For 2024, less than of lenders were eligible for this award.
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Relative Rate
Black Hills Federal Credit Union's average 30 year fixed mortgage rate was
6.32%.
The 2024 average 30 year fixed rate mortgage across all markets and lenders was 6.55%.
This yields a difference of -0.23%.
Relative Fees (Closing Costs)
Black Hills Federal Credit Union's average total fees/closing costs for a 30 year fixed rate
mortgage were $6,601.
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 $8,356.
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 |
|---|---|---|---|---|---|
| RAPID CITY, SD (FHA|USDA|VA) | 577 | $98,425,000 | $170,581 | $4,954 | 7.78% |
| Outside of Metro Areas | 163 | $29,735,000 | $182,423 | $6,261 | 7.57% |
| Spearfish, SD (FHA|USDA|VA) | 102 | $20,550,000 | $201,471 | $6,463 | 7.68% |
| SIOUX FALLS, SD (FHA|USDA|VA) | 107 | $18,675,000 | $174,533 | $4,529 | 7.41% |
| Pierre, SD (FHA|USDA|VA) | 21 | $2,165,000 | $103,095 | $4,151 | 8.29% |
| BILLINGS, MT (FHA|USDA|VA) | 10 | $1,800,000 | $180,000 | $8,131 | 8.43% |
| Brookings, SD (FHA|USDA|VA) | 3 | $965,000 | $321,667 | $9,114 | 6.75% |
| LONGVIEW, WA (FHA|USDA|VA) | 1 | $645,000 | $645,000 | $10,741 | 5.75% |
| ROCHESTER, MN (FHA|USDA|VA) | 2 | $610,000 | $305,000 | $4,520 | 7.06% |
| Gillette, WY (FHA|USDA|VA) | 4 | $610,000 | $152,500 | $3,977 | 5.78% |
| SIOUX CITY, IA-NE-SD (FHA|USDA|VA) | 2 | $600,000 | $300,000 | $8,524 | 7.44% |
| PROVO-OREM, UT (FHA|USDA|VA) | 1 | $575,000 | $575,000 | $9,953 | 6.38% |
| Watertown, SD (FHA|USDA|VA) | 2 | $560,000 | $280,000 | $8,789 | 6.88% |
| KENNEWICK-RICHLAND, WA (FHA|USDA|VA) | 1 | $525,000 | $525,000 | $8,881 | 7.50% |
| WILMINGTON, NC (FHA|USDA|VA) | 1 | $465,000 | $465,000 | $8,550 | 6.62% |
| Aberdeen, SD (FHA|USDA|VA) | 2 | $390,000 | $195,000 | $8,940 | 5.81% |
| Seattle-Tacoma-Bellevue, WA (FHA|USDA|VA) | 1 | $365,000 | $365,000 | $10,006 | 6.62% |
| Fairmont, MN (FHA|USDA|VA) | 1 | $315,000 | $315,000 | $7,169 | 6.63% |
| MINNEAPOLIS-ST. PAUL-BLOOMINGTON, MN-WI (FHA|USDA|VA) | 2 | $280,000 | $140,000 | $5,150 | 7.19% |
| Big Stone Gap, VA (FHA|USDA|VA) | 1 | $265,000 | $265,000 | $6,489 | 7.63% |
| LAKE HAVASU CITY-KINGMAN, AZ (FHA|USDA|VA) | 2 | $250,000 | $125,000 | $5,900 | 6.94% |
| PHOENIX-MESA-CHANDLER, AZ (FHA|USDA|VA) | 1 | $245,000 | $245,000 | $7,278 | 6.38% |
| FARGO, ND-MN (FHA|USDA|VA) | 1 | $205,000 | $205,000 | $3,539 | 5.75% |
| ST. CLOUD, MN (FHA|USDA|VA) | 1 | $195,000 | $195,000 | $5,749 | 6.00% |
| Sheridan, WY (FHA|USDA|VA) | 1 | $185,000 | $185,000 | $4,527 | 8.50% |
| OKLAHOMA CITY, OK (FHA|USDA|VA) | 1 | $185,000 | $185,000 | $0 | 6.99% |
| LAS VEGAS-HENDERSON-PARADISE, NV (FHA|USDA|VA) | 1 | $175,000 | $175,000 | $4,880 | 6.75% |
| Marshall, MN (FHA|USDA|VA) | 1 | $175,000 | $175,000 | $3,114 | 6.00% |
| TOPEKA, KS (FHA|USDA|VA) | 1 | $175,000 | $175,000 | $4,623 | 6.12% |
| SACRAMENTO-ROSEVILLE-FOLSOM, CA (FHA|USDA|VA) | 1 | $165,000 | $165,000 | $8,788 | 6.00% |
| Ruidoso, NM (FHA|USDA|VA) | 1 | $125,000 | $125,000 | $4,930 | 6.25% |
| Hastings, NE (FHA|USDA|VA) | 1 | $115,000 | $115,000 | $0 | 8.13% |
| DES MOINES-WEST DES MOINES, IA (FHA|USDA|VA) | 1 | $105,000 | $105,000 | $4,043 | 5.88% |
| TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) | 1 | $65,000 | $65,000 | $0 | 8.00% |
Similar Lenders
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Product Mix
For 2024, Black Hills Federal Credit Union's most frequently originated type of loan was HELOC, with 484 originations. Their 2nd most popular type was Conventional, with 463 originations.
Loan Reason
For 2024, Black Hills Federal Credit Union's most frequently cited loan purpose was Home Purchase, with 348 originations. The 2nd most popular reason was Home Improvement, with 296 originations.
Loan Duration/Length
For 2024, Black Hills Federal Credit Union's most frequently cited loan duration was 5 Year, with 511 originations. The 2nd most popular length was 30 Year, with 319 originations.
Origination Fees/Closing Costs
Black Hills Federal Credit Union's average total fees were $6,601, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 175 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| Over 8% | 389 | $32,335,000 | $83,123 |
| 7-8% | 291 | $43,345,000 | $148,952 |
| 6-7% | 213 | $71,255,000 | $334,531 |
| 5-6% | 119 | $31,575,000 | $265,336 |
| 4-5% | 7 | $2,375,000 | $339,286 |
During 2024, Black Hills Federal Credit Union's average interest rate for loans was 6.32%, while their most frequently originated rate bucket for loans was Over 8%, with 389 originations.
Loan Sizing
2024 saw Black Hills Federal Credit Union place emphasis on $100,000 or less loans with 439 originations, totaling $24,065,000 in origination value.
Applicant Income
Black Hills Federal Credit Union lent most frequently to those with incomes in the $100k-150k range, with 313 originations. The second most popular income band? $75k-100k, with 206 originations.
Applicant Debt to Income Ratio
Black Hills Federal Credit Union lent most frequently to those with DTI ratios of 20-30%, with 195 originations. The next most common DTI ratio? 30-36%, with 193 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications77.12%
Black Hills Federal Credit Union has a below average approval rate.
Pick Rate
Approvals leading to origination69.38%
Black Hills Federal Credit Union has a low pick rate. They may have issues with closing loans or may approve everyone, but with onerous loan terms.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 1,019 | $180,885,000 | $177,512 |