Voyage Federal Credit Union Mortgage Rates, Fees & Info
Sioux Falls, SDLEI: 549300MVYX1L50756117
Tax ID: 46-0230471
Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data
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Mortgage Data
Review & Overview
Voyage Federal Credit Union is a smaller credit union specializing in Cash Out Refi and Home Purchase loans. Voyage Federal Credit Union has a high proportion of conventional loans. Their top two markets are Sioux Falls and Spirit Lake .Voyage 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. They typically have about average rates.
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Originations
67Origination Dollar Volume (All Markets)
$10,745,000Top 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 |
---|---|---|---|---|---|
SIOUX FALLS, SD (FHA|USDA|VA) | 63 | $10,085,000 | $160,079 | $0 | 3.41% |
Outside of Metro Areas | 3 | $385,000 | $128,333 | $0 | 3.65% |
Spirit Lake, IA (FHA|USDA|VA) | 1 | $275,000 | $275,000 | $0 | 2.69% |
Product Mix
Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
---|---|---|---|---|---|
Conventional | 67 | $10,745,000 | $160,373 | $0 | 3.41% |
For 2021, Voyage Federal Credit Union's most frequently originated type of loan was Conventional, with 67 originations.
Loan Reason
For 2021, Voyage Federal Credit Union's most frequently cited loan purpose was Cash Out Refi, with 36 originations. The 2nd most popular reason was Home Purchase, with 15 originations.
Loan Duration/Length
For 2021, Voyage Federal Credit Union's most frequently cited loan duration was 30 Year, with 28 originations. The 2nd most popular length was 10 Year, with 16 originations.
Interest Rates
During 2021, Voyage Federal Credit Union's average interest rate for loans was 2.94%, while their most frequently originated rate bucket for loans was 3-4%, with 24 originations.
Loan Sizing
2021 saw Voyage Federal Credit Union place emphasis on $100,000 or less loans with 29 originations, totaling $1,465,000 in origination value.
Applicant Income
Voyage Federal Credit Union lent most frequently to those with incomes in the $50k or less range, with 19 originations. The second most popular income band? $50k-75k, with 15 originations.
Applicant Debt to Income Ratio
Voyage Federal Credit Union lent most frequently to those with DTI ratios of 20-30%, with 11 originations. The next most common DTI ratio? 30-36%, with 10 originations.
Ethnicity Mix
Applicant Ethnicity | Originations | Total Value | Average Loan | Average Fees | Average Rate |
---|---|---|---|---|---|
White | 64 | $10,090,000 | $157,656 | $0 | 3.39% |
Black | 1 | $405,000 | $405,000 | $0 | 2.60% |
Not provided | 2 | $250,000 | $125,000 | $0 | 4.54% |
Approval Rates
Total approvals of all applications77.44%
Voyage Federal Credit Union has a below average approval rate.
Pick Rate
Approvals leading to origination58.21%
Voyage 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 | 67 | $10,745,000 | $160,373 |