Black Hills Federal Credit Union Mortgage Rates, Fees & Info
Rapid City, SDLEI: 549300M2Z8GR3VL0QQ74
Tax ID: 46-0235529
Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data
Jump to:
Mortgage Data
Review & Overview
Black Hills Federal Credit Union is a smaller credit union specializing in Refi and Home Purchase loans. Black Hills Federal Credit Union has a high proportion of conventional loans. They have a low ratio of USDA loans. They have a a low proportion of FHA loans. (This may mean they shy away from first time homebuyers.) Their top markets by origination volume include: Rapid City, Sioux Falls, Spearfish, Pierre, and Gillette among others. We have data for 49 markets. (Some data included below & more in-depth data is available with an active subscription.)Black Hills Federal Credit Union 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. 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.
Mortgage seekers: Choose your metro area here to explore the lowest fee & rate lenders.
Mortgage professionals: We have various tools to make your lives easier. Contact us to see how we can help with your market research, analytics or advertising needs.
SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| Home Equity Line of Credit (HELOC) | 6.27% | 4/18/24 |
| 30 Year Conventional Purchase | 5.84% | 4/18/24 |
| 30 Year Conventional Refi | 5.98% | 4/18/24 |
| 30 Year Cash-out Refi | 5.86% | 4/18/24 |
| 30 Year FHA Purchase | 7.44% | 4/18/24 |
| 30 Year VA Purchase | 6.00% | 4/18/24 |
| 30 Year VA Refi | 6.07% | 4/18/24 |
| 30 Year USDA Purchase | 6.81% | 4/18/24 |
| 15 Year Conventional Purchase | 6.63% | 4/18/24 |
| 15 Year Conventional Refi | 6.39% | 4/18/24 |
| 15 Year Cash-out Refi | 6.39% | 4/18/24 |
| 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
1,672Origination Dollar Volume (All Markets)
$369,150,000Awards
BLACK HILLS FEDERAL CREDIT UNION - 2020
BLACK HILLS FEDERAL CREDIT UNION is a 2020 , due to their low .
For 2020, less than of lenders were eligible for this award.
Work for BLACK HILLS FEDERAL CREDIT UNION?
Use this award on your own site. Either save and use the images below, or pass the provided image embed code to your development team.
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) | 1,004 | $218,380,000 | $217,510 | $4,445 | 2.76% |
| SIOUX FALLS, SD (FHA|USDA|VA) | 204 | $49,140,000 | $240,882 | $4,312 | 2.56% |
| Spearfish, SD (FHA|USDA|VA) | 149 | $34,035,000 | $228,423 | $4,591 | 2.78% |
| Outside of Metro Areas | 147 | $30,275,000 | $205,952 | $4,482 | 2.89% |
| Pierre, SD (FHA|USDA|VA) | 69 | $14,265,000 | $206,739 | $4,619 | 2.79% |
| Gillette, WY (FHA|USDA|VA) | 11 | $2,175,000 | $197,727 | $3,933 | 2.89% |
| PHOENIX-MESA-CHANDLER, AZ (FHA|USDA|VA) | 10 | $2,140,000 | $214,000 | $4,832 | 2.80% |
| Brookings, SD (FHA|USDA|VA) | 10 | $1,860,000 | $186,000 | $3,880 | 2.44% |
| MINNEAPOLIS-ST. PAUL-BLOOMINGTON, MN-WI (FHA|USDA|VA) | 7 | $1,665,000 | $237,857 | $4,677 | 2.45% |
| Watertown, SD (FHA|USDA|VA) | 6 | $1,290,000 | $215,000 | $3,883 | 2.40% |
| DENVER-AURORA-LAKEWOOD, CO (FHA|USDA|VA) | 4 | $1,180,000 | $295,000 | $5,474 | 2.78% |
| SIOUX CITY, IA-NE-SD (FHA|USDA|VA) | 6 | $1,120,000 | $186,667 | $4,712 | 2.39% |
| SALT LAKE CITY, UT (FHA|USDA|VA) | 3 | $985,000 | $328,333 | $4,706 | 2.79% |
| GREELEY, CO (FHA|USDA|VA) | 2 | $900,000 | $450,000 | $6,599 | 4.00% |
| PRESCOTT VALLEY-PRESCOTT, AZ (FHA|USDA|VA) | 2 | $600,000 | $300,000 | $3,350 | 2.63% |
| ABILENE, TX (FHA|USDA|VA) | 2 | $560,000 | $280,000 | $8,323 | 2.25% |
| ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) | 2 | $530,000 | $265,000 | $5,957 | 2.50% |
| FORT COLLINS, CO (FHA|USDA|VA) | 1 | $405,000 | $405,000 | $7,198 | 2.50% |
| BREMERTON-SILVERDALE-PORT ORCHARD, WA (FHA|USDA|VA) | 1 | $405,000 | $405,000 | $7,555 | 2.50% |
| OXNARD-THOUSAND OAKS-VENTURA, CA (FHA|USDA|VA) | 1 | $395,000 | $395,000 | $4,763 | 2.75% |
| CASPER, WY (FHA|USDA|VA) | 1 | $385,000 | $385,000 | $4,329 | 2.50% |
| Scottsbluff, NE (FHA|USDA|VA) | 1 | $355,000 | $355,000 | $5,222 | 2.25% |
| Yankton, SD (FHA|USDA|VA) | 2 | $350,000 | $175,000 | $3,861 | 2.50% |
| Grand Rapids, MN (FHA|USDA|VA) | 1 | $345,000 | $345,000 | $5,620 | 2.63% |
| Aberdeen, SD (FHA|USDA|VA) | 2 | $340,000 | $170,000 | $3,691 | 2.94% |
| Sheridan, WY (FHA|USDA|VA) | 1 | $315,000 | $315,000 | $5,959 | 2.25% |
| FLAGSTAFF, AZ (FHA|USDA|VA) | 1 | $315,000 | $315,000 | $5,917 | 2.63% |
| OLYMPIA-LACEY-TUMWATER, WA (FHA|USDA|VA) | 1 | $275,000 | $275,000 | $3,897 | 2.99% |
| Key West, FL (FHA|USDA|VA) | 1 | $265,000 | $265,000 | $5,651 | 2.50% |
| HUNTSVILLE, AL (FHA|USDA|VA) | 1 | $265,000 | $265,000 | $13,253 | 2.25% |
| AUSTIN-ROUND ROCK-GEORGETOWN, TX (FHA|USDA|VA) | 1 | $265,000 | $265,000 | $4,157 | 3.25% |
| AMES, IA (FHA|USDA|VA) | 1 | $265,000 | $265,000 | $3,160 | 2.25% |
| Kearney, NE (FHA|USDA|VA) | 1 | $265,000 | $265,000 | $5,487 | 1.99% |
| OGDEN-CLEARFIELD, UT (FHA|USDA|VA) | 1 | $255,000 | $255,000 | $5,770 | 2.25% |
| MISSOULA, MT (FHA|USDA|VA) | 1 | $245,000 | $245,000 | $5,350 | 2.38% |
| Marshall, MN (FHA|USDA|VA) | 1 | $245,000 | $245,000 | $3,725 | 2.50% |
| HOUSTON-THE WOODLANDS-SUGAR LAND, TX (FHA|USDA|VA) | 1 | $215,000 | $215,000 | $5,278 | 2.25% |
| OSHKOSH-NEENAH, WI (FHA|USDA|VA) | 1 | $205,000 | $205,000 | $4,176 | 2.38% |
| LAS VEGAS-HENDERSON-PARADISE, NV (FHA|USDA|VA) | 1 | $195,000 | $195,000 | $3,735 | 3.00% |
| KANSAS CITY, MO-KS (FHA|USDA|VA) | 1 | $185,000 | $185,000 | $3,308 | 2.25% |
| Huron, SD (FHA|USDA|VA) | 1 | $185,000 | $185,000 | $3,131 | 2.25% |
| ST. LOUIS, MO-IL (FHA|USDA|VA) | 1 | $185,000 | $185,000 | $4,268 | 2.50% |
| Chicago-Naperville-Elgin, IL-IN-WI (FHA|USDA|VA) | 1 | $175,000 | $175,000 | $4,523 | 2.88% |
| Montrose, CO (FHA|USDA|VA) | 1 | $165,000 | $165,000 | $4,558 | 2.75% |
| TUCSON, AZ (FHA|USDA|VA) | 1 | $155,000 | $155,000 | $3,554 | 3.63% |
| PUNTA GORDA, FL (FHA|USDA|VA) | 1 | $145,000 | $145,000 | $2,902 | 2.25% |
| Mitchell, SD (FHA|USDA|VA) | 1 | $105,000 | $105,000 | $2,971 | 2.63% |
| LAKE HAVASU CITY-KINGMAN, AZ (FHA|USDA|VA) | 1 | $95,000 | $95,000 | $3,527 | 2.99% |
| Vermillion, SD (FHA|USDA|VA) | 1 | $85,000 | $85,000 | $3,604 | 2.75% |
Similar Lenders
We use machine learning to identify the top lenders compared against BLACK HILLS FEDERAL CREDIT UNION based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.
Similarity Rank: 560
Similarity Rank: 627
Similarity Rank: 649
Similarity Rank: 868
Similarity Rank: 1298
Similarity Rank: 1369
Similarity Rank: 1848
Similarity Rank: 2080
Similarity Rank: 2310
Similarity Rank: 2414
Product Mix
For 2020, Black Hills Federal Credit Union's most frequently originated type of loan was Conventional, with 1,497 originations. Their 2nd most popular type was VA, with 164 originations.
Loan Reason
For 2020, Black Hills Federal Credit Union's most frequently cited loan purpose was Refi, with 669 originations. The 2nd most popular reason was Home Purchase, with 386 originations.
Loan Duration/Length
For 2020, Black Hills Federal Credit Union's most frequently cited loan duration was 30 Year, with 1,060 originations. The 2nd most popular length was 15 Year, with 442 originations.
Origination Fees/Closing Costs
Black Hills Federal Credit Union's average total fees were $4,664, while their most frequently occuring range of origination fees (closing costs) were in the $2k-3k bucket, with 624 originations.
Interest Rates
During 2020, Black Hills Federal Credit Union's average interest rate for loans was 2.75%, while their most frequently originated rate bucket for loans was <2.5%, with 805 originations.
Loan Sizing
2020 saw Black Hills Federal Credit Union place emphasis on $200k-400k loans with 731 originations, totaling $198,845,000 in origination value.
Applicant Income
Black Hills Federal Credit Union lent most frequently to those with incomes in the $100k-150k range, with 426 originations. The second most popular income band? $50k-75k, with 358 originations.
Applicant Debt to Income Ratio
Black Hills Federal Credit Union lent most frequently to those with DTI ratios of 20-30%, with 461 originations. The next most common DTI ratio? 30-36%, with 327 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications90.96%
Black Hills Federal Credit Union has an average approval rate.
Pick Rate
Approvals leading to origination67.82%
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 | 1,672 | $369,150,000 | $220,783 |