Voyage Federal Credit Union Mortgage Rates, Fees & Info

Sioux Falls, SD

LEI: 549300MVYX1L50756117

Tax ID: 46-0230471

Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data

Jump to:

Mortgage Data

  • Originations
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • Loan Length
  • Loan to Value Info
  • Debt-to-Income
  • Applicant Income
  • Ethnicity Info
  • Approval & Pick Rates
  • Points and Fees
  • Origination Fees (Closing Costs)

    • 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.

    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.


    Originations

    67

    Origination Dollar Volume (All Markets)

    $10,745,000

    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
    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%
    Voyage Federal Credit Union's top markets include Sioux Falls and Spirit Lake among others.

    Their top states include:
  • South Dakota (FHA|USDA|VA)
  • Iowa (FHA|USDA|VA)

    • 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

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Cash Out Refi 36 $5,120,000 $142,222 $0 3.20%
    Home Purchase 15 $3,475,000 $231,667 $0 3.00%
    Refi 8 $1,830,000 $228,750 $0 3.05%
    Other 7 $295,000 $42,143 $0 5.37%
    Home Improvement 1 $25,000 $25,000 $0 6.50%

    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

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 28 $7,410,000 $264,643 $0 2.94%
    10 Year 16 $970,000 $60,625 $0 4.44%
    15 Year 16 $2,040,000 $127,500 $0 3.13%
    Other 5 $235,000 $47,000 $0 4.09%
    5 Year 2 $90,000 $45,000 $0 2.37%

    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

    Loan Rate Originations Total Value Average Loan
    3-4% 24 $3,720,000 $155,000
    2.5-3% 23 $5,085,000 $221,087
    <2.5% 10 $1,660,000 $166,000
    6-7% 7 $195,000 $27,857
    5-6% 2 $40,000 $20,000
    4-5% 1 $45,000 $45,000

    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

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 29 $1,465,000 $50,517 $0 4.13%
    $200k-400k 20 $5,250,000 $262,500 $0 2.76%
    $100k-200k 13 $1,865,000 $143,462 $0 3.00%
    $400k-600k 5 $2,165,000 $433,000 $0 2.94%

    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

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k or less 19 $1,795,000 $94,474 $0 3.39%
    $50k-75k 15 $1,935,000 $129,000 $0 3.87%
    $100k-150k 13 $2,505,000 $192,692 $0 2.93%
    $75k-100k 10 $1,770,000 $177,000 $0 3.80%
    $150k-250k 8 $1,990,000 $248,750 $0 3.14%
    $250k+ 2 $750,000 $375,000 $0 2.45%

    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

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 11 $1,395,000 $126,818 $0 3.39%
    30-36% 10 $1,580,000 $158,000 $0 3.41%
    <20% 7 $865,000 $123,571 $0 3.14%
    50-60% 5 $705,000 $141,000 $0 3.49%
    >60% 4 $730,000 $182,500 $0 4.03%
    36% 4 $740,000 $185,000 $0 2.66%
    43% 4 $680,000 $170,000 $0 3.62%
    45% 4 $700,000 $175,000 $0 3.70%
    47% 3 $655,000 $218,333 $0 3.13%
    42% 3 $425,000 $141,667 $0 4.43%
    44% 3 $525,000 $175,000 $0 3.26%
    49% 3 $565,000 $188,333 $0 3.32%
    41% 2 $550,000 $275,000 $0 2.87%
    46% 1 $205,000 $205,000 $0 2.86%
    38% 1 $75,000 $75,000 $0 3.98%
    40% 1 $165,000 $165,000 $0 3.36%
    39% 1 $185,000 $185,000 $0 3.33%

    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 applications
    77.44%

    Voyage Federal Credit Union has a below average approval rate.

    Pick Rate

    Approvals leading to origination
    58.21%

    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

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    67 $10,745,000 $160,373

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 17 $1,465,000 $86,176 $0 3.05%
    40-60% 12 $1,690,000 $140,833 $0 3.26%
    60-80% 13 $3,135,000 $241,154 $0 2.73%
    80-100% 17 $4,265,000 $250,882 $0 3.07%
    Under 20% 8 $190,000 $23,750 $0 6.23%