Missouri Credit Union Mortgage Rates, Fees & Info

Columbia, MO

LEI: 549300MQ4IB3OO2XR831

Tax ID: 23-7024415

5 stars - out of 5 stars, based on 27 reviews

2021 Data | 2020 Data | 2019 Data | 2018 Data


Overview

Missouri Credit Union is a smaller credit union specializing in Home Purchase, Refi, and Cash Out Refi loans. Missouri Credit Union has a high proportion of conventional loans. Their top markets include Columbia, Jefferson City, St. Louis, Kansas City, and Moberly among others. Missouri 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. Missouri Credit Union is typically a low fee lendor.


Originations

704

Origination Dollar Volume (All Markets)

$126,280,000
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Relative Rate

Missouri Credit Union's average 30 year fixed rate mortgage of loans were 3.01%.

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

This yields a difference of -0.14%.

Relative Fees

Missouri Credit Union's average total fees for a 30 year fixed rate mortgage are $1,823.

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
COLUMBIA, MO (FHA|USDA|VA) 436 $82,560,000 $189,358 $1,726 2.73%
JEFFERSON CITY, MO (FHA|USDA|VA) 151 $25,015,000 $165,662 $1,838 2.68%
Outside of Metro Areas 43 $6,455,000 $150,116 $2,039 2.85%
ST. LOUIS, MO-IL (FHA|USDA|VA) 17 $3,375,000 $198,529 $2,168 2.89%
KANSAS CITY, MO-KS (FHA|USDA|VA) 15 $2,565,000 $171,000 $1,818 2.75%
Moberly, MO (FHA|USDA|VA) 10 $1,710,000 $171,000 $1,808 2.80%
Rolla, MO (FHA|USDA|VA) 5 $905,000 $181,000 $2,110 2.83%
SPRINGFIELD, MO (FHA|USDA|VA) 4 $660,000 $165,000 $2,273 2.72%
Mexico, MO (FHA|USDA|VA) 4 $640,000 $160,000 $1,844 2.94%
Kirksville, MO (FHA|USDA|VA) 4 $490,000 $122,500 $1,614 2.91%
CAPE GIRARDEAU, MO-IL (FHA|USDA|VA) 3 $445,000 $148,333 $1,905 2.79%
ST. JOSEPH, MO-KS (FHA|USDA|VA) 2 $330,000 $165,000 $2,019 2.75%
Sedalia, MO (FHA|USDA|VA) 2 $290,000 $145,000 $1,899 2.44%
Warrensburg, MO (FHA|USDA|VA) 2 $250,000 $125,000 $1,536 2.31%
Poplar Bluff, MO (FHA|USDA|VA) 2 $160,000 $80,000 $1,537 2.69%
West Plains, MO (FHA|USDA|VA) 1 $145,000 $145,000 $2,561 3.13%
Lebanon, MO (FHA|USDA|VA) 1 $125,000 $125,000 $1,976 3.25%
JOPLIN, MO (FHA|USDA|VA) 1 $105,000 $105,000 $1,470 2.50%
Sikeston, MO (FHA|USDA|VA) 1 $55,000 $55,000 $1,615 2.88%

Missouri Credit Union's top markets include Columbia, Jefferson City, St. Louis, Kansas City, and Moberly among others.

Product Mix

Loan Type Originations Total Value Average Loan Average Fees Average Rate
Conventional 704 $126,280,000 $179,375 $1,791 2.73%

For the 2021 period, Missouri Credit Union's most frequently originated loan type of loans were Conventional, with 704 originations.

Loan Reason

Loan Reason Originations Total Value Average Loan Average Fees Average Rate
Home Purchase 291 $56,115,000 $192,835 $1,791 2.90%
Refi 261 $43,975,000 $168,487 $1,748 2.55%
Cash Out Refi 152 $26,190,000 $172,303 $1,864 2.73%

For the 2021, Missouri Credit Union's most frequently cited loan purpose of loans were Home Purchase, with 291 originations. The 2nd most popular reason of loans were Refi, with 261 originations.

Loan Duration/Length

Loan Length Originations Total Value Average Loan Average Fees Average Rate
30 Year 372 $71,890,000 $193,253 $1,823 3.01%
15 Year 230 $37,350,000 $162,391 $1,768 2.36%
20 Year 61 $11,075,000 $181,557 $1,742 2.77%
10 Year 41 $5,965,000 $145,488 $1,698 2.28%

For the 2021, Missouri Credit Union's most frequently cited loan length of loans were 30 Year, with 372 originations. The 2nd most popular length of loans were 15 Year, with 230 originations.

Origination Fees

Origination Fee Originations Total Value Average Loan
$<1k 677 $120,875,000 $178,545
$1k-2k 23 $4,335,000 $188,478
$2k-3k 2 $480,000 $240,000
$3k-4k 1 $455,000 $455,000

$1,823 of loans were Missouri Credit Union's average total fees, while their most frequently occuring range of origination fees were in the $<1k bucket, with 677 originations.

Interest Rates

Loan Rate Originations Total Value Average Loan
2.5-3% 281 $52,795,000 $187,883
<2.5% 271 $49,445,000 $182,454
3-4% 150 $23,870,000 $159,133
4-5% 2 $170,000 $85,000

During 2021, Missouri Credit Union's average interest rate of loans were 3.01%, while their most frequently originated rate bucket of loans were 2.5-3%, with 281 originations.

Loan Sizing

Loan Size Originations Total Value Average Loan Average Fees Average Rate
$100k-200k 359 $53,265,000 $148,370 $1,786 2.75%
$200k-400k 205 $53,365,000 $260,317 $1,844 2.72%
$100,000 or less 117 $9,225,000 $78,846 $1,628 2.74%
$400k-600k 23 $10,425,000 $453,261 $2,218 2.55%

2021 saw Missouri Credit Union place emphasis on $100k-200k loans with 359 originations, totaling $53,265,000 in origination value.

Applicant Income

Applicant Income Originations Total Value Average Loan Average Fees Average Rate
$100k-150k 183 $36,585,000 $199,918 $1,857 2.70%
$50k-75k 150 $22,440,000 $149,600 $1,753 2.77%
$75k-100k 136 $25,690,000 $188,897 $1,788 2.71%
$50k or less 115 $14,065,000 $122,304 $1,690 2.80%
$150k-250k 87 $19,505,000 $224,195 $1,821 2.64%
$250k+ 33 $7,995,000 $242,273 $1,880 2.84%

Missouri Credit Union lent most frequently to those with incomes in the $100k-150k range, with 183 originations. The second most popular income band? $50k-75k, with 150 originations.

Applicant Debt to Income Ratio

DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
20-30% 212 $40,710,000 $192,028 $1,793 2.68%
<20% 157 $25,375,000 $161,624 $1,766 2.69%
30-36% 121 $21,175,000 $175,000 $1,811 2.75%
41% 30 $5,630,000 $187,667 $1,752 2.93%
43% 23 $4,355,000 $189,348 $1,785 2.84%
39% 23 $4,715,000 $205,000 $1,796 2.82%
38% 19 $3,125,000 $164,474 $1,926 2.87%
36% 19 $3,315,000 $174,474 $1,748 2.64%
40% 18 $3,710,000 $206,111 $1,824 2.71%
37% 17 $3,155,000 $185,588 $1,802 2.99%
42% 17 $2,625,000 $154,412 $1,831 2.93%
44% 14 $2,350,000 $167,857 $1,844 2.79%
46% 8 $1,510,000 $188,750 $1,603 2.59%
48% 8 $1,150,000 $143,750 $1,771 2.73%
45% 7 $1,415,000 $202,143 $1,795 2.59%
47% 6 $1,140,000 $190,000 $1,582 2.44%
49% 5 $825,000 $165,000 $2,007 2.93%

Missouri Credit Union lent most frequently to those with DTI ratios of 20-30%, with 212 originations. The next most common DTI ratio? <20%, with 157 originations.

Ethnicity Mix

Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
White 512 $91,580,000 $178,867 $1,790 2.71%
Not provided 128 $22,780,000 $177,969 $1,818 2.75%
Asian 39 $7,785,000 $199,615 $1,715 2.89%
Black 22 $3,580,000 $162,727 $1,795 2.86%
American Indian 3 $555,000 $185,000 $1,768 3.00%

Approval Rates

Total approvals of all applications
82.56%

Missouri Credit Union has a below average approval rate.

Pick Rate

Approvals leading to origination
12.16%

Missouri 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 704 $126,280,000 $179,375

Occupancy Type Mix

Dwelling Type Originations Total Value Average Loan
704 $126,280,000 $179,375

LTV Distribution

Loan to Value Originations Total Value Average Loan Average Fees Average Rate
20-40% 45 $4,825,000 $107,222 $1,666 2.46%
40-60% 118 $17,570,000 $148,898 $1,667 2.50%
60-80% 323 $59,035,000 $182,771 $1,834 2.76%
80-100% 216 $44,710,000 $206,991 $1,823 2.88%
Under 20% 2 $140,000 $70,000 $1,521 2.13%