Elements Financial Federal Credit Union Mortgage Rates, Fees & Info

Indianapolis, IN

LEI: 549300NZWZUYUWEOA562

Tax ID: 35-6022541

5 stars - out of 5 stars, based on 49 reviews

2021 Data | 2020 Data | 2019 Data | 2018 Data


Overview

Elements Financial Federal Credit Union is a smaller credit union specializing in Home Purchase loans. Elements Financial Federal Credit Union has a high proportion of conventional loans. They have a a low proportion of FHA loans. (This may mean they shy away from first time homebuyers.) They have a low ratio of USDA loans. Their top markets include Indianapolis, Chicago, Bloomington, Denver, and Washington among others. Elements Financial Federal Credit Union has an above average approval rate for mortages when compared nationally. They have a below average pick rate when compared to the same sample of other lendors. Elements Financial Federal Credit Union is typically a low fee lendor.


Originations

2,381

Origination Dollar Volume (All Markets)

$587,725,000

Awards

Elements Financial Federal Credit Union FHA Loans bronze Elements Financial Federal Credit Union 30 Year Conventional Loans bronze
Show all (2) awards

Relative Rate

Elements Financial Federal Credit Union's average 30 year fixed rate mortgage of loans were 3.12%.

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

This yields a difference of -0.03%.

Relative Fees

Elements Financial Federal Credit Union's average total fees for a 30 year fixed rate mortgage are $3,046.

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
INDIANAPOLIS-CARMEL-ANDERSON, IN (FHA|USDA|VA) 1,874 $453,440,000 $241,964 $2,739 2.66%
Outside of Metro Areas 31 $5,925,000 $191,129 $2,997 2.65%
Chicago-Naperville-Elgin, IL-IN-WI (FHA|USDA|VA) 17 $5,775,000 $339,706 $4,674 2.40%
BLOOMINGTON, IN (FHA|USDA|VA) 18 $4,980,000 $276,667 $3,006 3.10%
DENVER-AURORA-LAKEWOOD, CO (FHA|USDA|VA) 11 $4,705,000 $427,727 $3,904 1.81%
Washington-Arlington-Alexandria, DC-VA-MD-WV (FHA|USDA|VA) 8 $4,020,000 $502,500 $4,819 2.45%
New York-Newark-Jersey City, NY-NJ-PA (FHA|USDA|VA) 15 $3,875,000 $258,333 $5,020 2.30%
Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) 7 $3,445,000 $492,143 $5,182 2.55%
Philadelphia-Camden-Wilmington, PA-NJ-DE-MD (FHA|USDA|VA) 6 $3,350,000 $558,333 $6,714 2.75%
LAFAYETTE-WEST LAFAYETTE, IN (FHA|USDA|VA) 14 $3,220,000 $230,000 $2,466 2.95%
TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) 10 $3,130,000 $313,000 $4,218 2.72%
CHARLOTTE-CONCORD-GASTONIA, NC-SC (FHA|USDA|VA) 9 $2,995,000 $332,778 $3,146 2.26%
SAN DIEGO-CHULA VISTA-CARLSBAD, CA (FHA|USDA|VA) 10 $2,540,000 $254,000 $3,234 1.72%
NAPLES-MARCO ISLAND, FL (FHA|USDA|VA) 5 $2,535,000 $507,000 $8,020 1.87%
Warsaw, IN (FHA|USDA|VA) 4 $2,410,000 $602,500 $2,960 2.65%
Boston-Cambridge-Newton, MA-NH (FHA|USDA|VA) 8 $2,360,000 $295,000 $4,508 2.53%
ATLANTA-SANDY SPRINGS-ALPHARETTA, GA (FHA|USDA|VA) 12 $2,320,000 $193,333 $2,680 2.47%
CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) 6 $2,150,000 $358,333 $4,579 2.73%
FORT COLLINS, CO (FHA|USDA|VA) 5 $2,145,000 $429,000 $3,363 2.32%
HOUSTON-THE WOODLANDS-SUGAR LAND, TX (FHA|USDA|VA) 6 $2,040,000 $340,000 $4,193 2.75%
TERRE HAUTE, IN (FHA|USDA|VA) 17 $1,985,000 $116,765 $2,449 2.84%
North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) 7 $1,935,000 $276,429 $4,191 3.57%
NASHVILLE-DAVIDSON--MURFREESBORO--FRANKLIN, TN (FHA|USDA|VA) 5 $1,715,000 $343,000 $8,262 1.67%
Los Angeles-Long Beach-Anaheim, CA (FHA|USDA|VA) 5 $1,705,000 $341,000 $7,049 1.39%
FORT WAYNE, IN (FHA|USDA|VA) 8 $1,700,000 $212,500 $2,032 2.78%
COLUMBUS, OH (FHA|USDA|VA) 6 $1,690,000 $281,667 $3,336 2.73%
Dallas-Fort Worth-Arlington, TX (FHA|USDA|VA) 3 $1,505,000 $501,667 $9,143 1.74%
BEND, OR (FHA|USDA|VA) 3 $1,435,000 $478,333 $5,280 2.88%
CINCINNATI, OH-KY-IN (FHA|USDA|VA) 8 $1,430,000 $178,750 $2,331 3.15%
LOUISVILLE/JEFFERSON COUNTY, KY-IN (FHA|USDA|VA) 5 $1,425,000 $285,000 $3,031 3.13%
AUSTIN-ROUND ROCK-GEORGETOWN, TX (FHA|USDA|VA) 3 $1,385,000 $461,667 $6,322 1.66%
KNOXVILLE, TN (FHA|USDA|VA) 5 $1,305,000 $261,000 $3,551 2.42%
MINNEAPOLIS-ST. PAUL-BLOOMINGTON, MN-WI (FHA|USDA|VA) 5 $1,305,000 $261,000 $3,421 2.40%
NILES, MI (FHA|USDA|VA) 3 $1,235,000 $411,667 $3,289 3.33%
KANSAS CITY, MO-KS (FHA|USDA|VA) 5 $1,225,000 $245,000 $0 2.19%
Glenwood Springs, CO (FHA|USDA|VA) 3 $1,195,000 $398,333 $3,024 2.66%
BALTIMORE-COLUMBIA-TOWSON, MD (FHA|USDA|VA) 4 $1,160,000 $290,000 $4,448 2.09%
PITTSBURGH, PA (FHA|USDA|VA) 2 $1,150,000 $575,000 $5,757 3.06%
PHOENIX-MESA-CHANDLER, AZ (FHA|USDA|VA) 5 $1,145,000 $229,000 $4,206 2.47%
BRIDGEPORT-STAMFORD-NORWALK, CT (FHA|USDA|VA) 2 $1,100,000 $550,000 $5,675 2.12%
BOULDER, CO (FHA|USDA|VA) 4 $1,090,000 $272,500 $2,878 2.47%
ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) 3 $1,055,000 $351,667 $4,351 3.04%
CLEVELAND-ELYRIA, OH (FHA|USDA|VA) 4 $1,020,000 $255,000 $2,618 4.53%
ANN ARBOR, MI (FHA|USDA|VA) 3 $995,000 $331,667 $0 0.99%
RALEIGH-CARY, NC (FHA|USDA|VA) 4 $970,000 $242,500 $3,430 2.31%
SOUTH BEND-MISHAWAKA, IN-MI (FHA|USDA|VA) 4 $960,000 $240,000 $2,386 3.13%
SACRAMENTO-ROSEVILLE-FOLSOM, CA (FHA|USDA|VA) 2 $870,000 $435,000 $3,024 2.50%
DELTONA-DAYTONA BEACH-ORMOND BEACH, FL (FHA|USDA|VA) 5 $855,000 $171,000 $2,728 2.12%
CHARLESTON-NORTH CHARLESTON, SC (FHA|USDA|VA) 3 $835,000 $278,333 $3,293 2.08%
SAN JOSE-SUNNYVALE-SANTA CLARA, CA (FHA|USDA|VA) 1 $785,000 $785,000 $3,575 3.00%
New Castle, IN (FHA|USDA|VA) 7 $775,000 $110,714 $2,036 2.55%
Crawfordsville, IN (FHA|USDA|VA) 6 $770,000 $128,333 $2,499 2.31%
COLUMBUS, IN (FHA|USDA|VA) 3 $765,000 $255,000 $3,704 2.37%
RIVERSIDE-SAN BERNARDINO-ONTARIO, CA (FHA|USDA|VA) 4 $760,000 $190,000 $4,008 2.75%
MILWAUKEE-WAUKESHA, WI (FHA|USDA|VA) 1 $745,000 $745,000 $2,450 3.25%
SALT LAKE CITY, UT (FHA|USDA|VA) 1 $705,000 $705,000 $3,869 3.38%
GREENVILLE-ANDERSON, SC (FHA|USDA|VA) 2 $690,000 $345,000 $5,247 3.50%
Seattle-Tacoma-Bellevue, WA (FHA|USDA|VA) 5 $685,000 $137,000 $0 0.99%
DURHAM-CHAPEL HILL, NC (FHA|USDA|VA) 3 $685,000 $228,333 $2,804 1.87%
ASHEVILLE, NC (FHA|USDA|VA) 2 $680,000 $340,000 $3,389 2.81%
Kalispell, MT (FHA|USDA|VA) 1 $675,000 $675,000 $5,185 3.13%
Detroit-Warren-Dearborn, MI (FHA|USDA|VA) 3 $665,000 $221,667 $1,838 4.83%
Angola, IN (FHA|USDA|VA) 2 $660,000 $330,000 $3,750 2.63%
YORK-HANOVER, PA (FHA|USDA|VA) 1 $655,000 $655,000 $22,634 3.00%
BELLINGHAM, WA (FHA|USDA|VA) 1 $655,000 $655,000 $3,227 3.38%
SAN ANTONIO-NEW BRAUNFELS, TX (FHA|USDA|VA) 1 $615,000 $615,000 $6,809 3.25%
HILTON HEAD ISLAND-BLUFFTON, SC (FHA|USDA|VA) 3 $615,000 $205,000 $2,748 1.74%
GREELEY, CO (FHA|USDA|VA) 3 $585,000 $195,000 $2,931 2.25%
BIRMINGHAM-HOOVER, AL (FHA|USDA|VA) 2 $580,000 $290,000 $0 2.87%
PALM BAY-MELBOURNE-TITUSVILLE, FL (FHA|USDA|VA) 3 $555,000 $185,000 $4,872 1.70%
COLORADO SPRINGS, CO (FHA|USDA|VA) 3 $515,000 $171,667 $0 0.99%
Jackson, WY-ID (FHA|USDA|VA) 1 $505,000 $505,000 $0 0.99%
OGDEN-CLEARFIELD, UT (FHA|USDA|VA) 1 $475,000 $475,000 $3,760 2.88%
SPARTANBURG, SC (FHA|USDA|VA) 1 $475,000 $475,000 $4,162 3.00%
TULSA, OK (FHA|USDA|VA) 2 $450,000 $225,000 $4,592 1.87%
SEBRING-AVON PARK, FL (FHA|USDA|VA) 1 $435,000 $435,000 $14,949 3.13%
FRESNO, CA (FHA|USDA|VA) 1 $425,000 $425,000 $3,486 3.25%
EVANSVILLE, IN-KY (FHA|USDA|VA) 2 $420,000 $210,000 $2,561 2.06%
BOISE CITY, ID (FHA|USDA|VA) 2 $410,000 $205,000 $0 4.00%
MICHIGAN CITY-LA PORTE, IN (FHA|USDA|VA) 1 $405,000 $405,000 $2,669 3.63%
Searcy, AR (FHA|USDA|VA) 1 $405,000 $405,000 $4,934 3.00%
ST. LOUIS, MO-IL (FHA|USDA|VA) 1 $395,000 $395,000 $0 0.99%
BUFFALO-CHEEKTOWAGA, NY (FHA|USDA|VA) 3 $385,000 $128,333 $3,936 2.54%
Newport, TN (FHA|USDA|VA) 1 $385,000 $385,000 $4,242 3.50%
Sevierville, TN (FHA|USDA|VA) 1 $385,000 $385,000 $6,627 3.63%
PORTLAND-VANCOUVER-HILLSBORO, OR-WA (FHA|USDA|VA) 3 $345,000 $115,000 $2,842 2.41%
DAYTON-KETTERING, OH (FHA|USDA|VA) 1 $325,000 $325,000 $3,205 3.00%
LAKELAND-WINTER HAVEN, FL (FHA|USDA|VA) 1 $325,000 $325,000 $4,435 3.00%
Richmond, IN (FHA|USDA|VA) 4 $320,000 $80,000 $2,470 2.22%
ATHENS-CLARKE COUNTY, GA (FHA|USDA|VA) 2 $320,000 $160,000 $2,599 1.93%
Newport, OR (FHA|USDA|VA) 1 $315,000 $315,000 $3,731 3.00%
NEW ORLEANS-METAIRIE, LA (FHA|USDA|VA) 2 $310,000 $155,000 $2,511 1.75%
ALBUQUERQUE, NM (FHA|USDA|VA) 1 $305,000 $305,000 $3,571 2.50%
Laramie, WY (FHA|USDA|VA) 1 $305,000 $305,000 $0 3.75%
GREEN BAY, WI (FHA|USDA|VA) 1 $305,000 $305,000 $2,354 3.25%
LEXINGTON-FAYETTE, KY (FHA|USDA|VA) 2 $300,000 $150,000 $2,870 4.13%
MYRTLE BEACH-CONWAY-NORTH MYRTLE BEACH, SC-NC (FHA|USDA|VA) 1 $285,000 $285,000 $4,481 2.75%
MONROE, MI (FHA|USDA|VA) 1 $275,000 $275,000 $3,471 3.38%
JACKSONVILLE, FL (FHA|USDA|VA) 2 $270,000 $135,000 $0 2.37%
AKRON, OH (FHA|USDA|VA) 1 $265,000 $265,000 $3,264 2.50%
TOLEDO, OH (FHA|USDA|VA) 1 $265,000 $265,000 $3,774 2.88%
TUCSON, AZ (FHA|USDA|VA) 1 $265,000 $265,000 $5,509 2.88%
SYRACUSE, NY (FHA|USDA|VA) 2 $260,000 $130,000 $4,120 2.31%
AUGUSTA-RICHMOND COUNTY, GA-SC (FHA|USDA|VA) 1 $255,000 $255,000 $0 0.99%
Marion, IN (FHA|USDA|VA) 2 $250,000 $125,000 $2,387 2.94%
SAVANNAH, GA (FHA|USDA|VA) 1 $245,000 $245,000 $3,324 2.88%
ALLENTOWN-BETHLEHEM-EASTON, PA-NJ (FHA|USDA|VA) 3 $245,000 $81,667 $550 2.91%
ELKHART-GOSHEN, IN (FHA|USDA|VA) 1 $235,000 $235,000 $1,912 3.25%
SIOUX FALLS, SD (FHA|USDA|VA) 1 $235,000 $235,000 $3,973 3.63%
DAPHNE-FAIRHOPE-FOLEY, AL (FHA|USDA|VA) 1 $225,000 $225,000 $2,327 3.38%
WICHITA FALLS, TX (FHA|USDA|VA) 1 $225,000 $225,000 $3,687 2.13%
BATON ROUGE, LA (FHA|USDA|VA) 1 $225,000 $225,000 $4,106 2.50%
DALTON, GA (FHA|USDA|VA) 1 $225,000 $225,000 $0 0.99%
Peru, IN (FHA|USDA|VA) 1 $215,000 $215,000 $2,001 2.88%
SAN LUIS OBISPO-PASO ROBLES, CA (FHA|USDA|VA) 1 $205,000 $205,000 $0 0.99%
Gloversville, NY (FHA|USDA|VA) 1 $205,000 $205,000 $4,526 3.13%
NEW HAVEN-MILFORD, CT (FHA|USDA|VA) 1 $195,000 $195,000 $4,030 3.50%
MUNCIE, IN (FHA|USDA|VA) 3 $195,000 $65,000 $2,217 2.79%
ALBANY-SCHENECTADY-TROY, NY (FHA|USDA|VA) 2 $190,000 $95,000 $2,660 3.13%
Greensburg, IN (FHA|USDA|VA) 1 $165,000 $165,000 $4,300 2.63%
Spearfish, SD (FHA|USDA|VA) 1 $165,000 $165,000 $4,292 2.63%
RICHMOND, VA (FHA|USDA|VA) 1 $155,000 $155,000 $0 0.99%
SPOKANE-SPOKANE VALLEY, WA (FHA|USDA|VA) 1 $145,000 $145,000 $0 0.99%
LAS VEGAS-HENDERSON-PARADISE, NV (FHA|USDA|VA) 2 $140,000 $70,000 $0 2.37%
KOKOMO, IN (FHA|USDA|VA) 1 $125,000 $125,000 $2,108 3.38%
WINCHESTER, VA-WV (FHA|USDA|VA) 1 $125,000 $125,000 $0 0.99%
CaƱon City, CO (FHA|USDA|VA) 1 $125,000 $125,000 $2,821 3.13%
FLINT, MI (FHA|USDA|VA) 1 $125,000 $125,000 $2,223 2.50%
STOCKTON, CA (FHA|USDA|VA) 1 $115,000 $115,000 $0 0.99%
OKLAHOMA CITY, OK (FHA|USDA|VA) 2 $110,000 $55,000 $0 0.99%
DAVENPORT-MOLINE-ROCK ISLAND, IA-IL (FHA|USDA|VA) 1 $105,000 $105,000 $2,637 3.75%
TYLER, TX (FHA|USDA|VA) 1 $105,000 $105,000 $3,031 2.38%
BAKERSFIELD, CA (FHA|USDA|VA) 1 $105,000 $105,000 $0 0.99%
ROCKY MOUNT, NC (FHA|USDA|VA) 1 $105,000 $105,000 $2,560 3.25%
SALEM, OR (FHA|USDA|VA) 2 $100,000 $50,000 $0 2.37%
San Francisco-Oakland-Berkeley, CA (FHA|USDA|VA) 1 $95,000 $95,000 $0 0.99%
CEDAR RAPIDS, IA (FHA|USDA|VA) 1 $95,000 $95,000 $0 0.99%
LAS CRUCES, NM (FHA|USDA|VA) 1 $85,000 $85,000 $0 1.99%
MANCHESTER-NASHUA, NH (FHA|USDA|VA) 1 $85,000 $85,000 $3,146 3.00%
CRESTVIEW-FORT WALTON BEACH-DESTIN, FL (FHA|USDA|VA) 1 $85,000 $85,000 $0 0.99%
Corinth, MS (FHA|USDA|VA) 1 $75,000 $75,000 $0 0.99%
CLARKSVILLE, TN-KY (FHA|USDA|VA) 1 $75,000 $75,000 $2,815 4.38%
North Vernon, IN (FHA|USDA|VA) 1 $55,000 $55,000 $0 3.75%
OMAHA-COUNCIL BLUFFS, NE-IA (FHA|USDA|VA) 1 $55,000 $55,000 $0 0.99%
FLORENCE, SC (FHA|USDA|VA) 1 $55,000 $55,000 $2,859 3.38%
LINCOLN, NE (FHA|USDA|VA) 1 $55,000 $55,000 $550 5.74%
Lebanon, NH-VT (FHA|USDA|VA) 1 $55,000 $55,000 $0 0.99%
OCALA, FL (FHA|USDA|VA) 1 $45,000 $45,000 $0 1.99%
GULFPORT-BILOXI, MS (FHA|USDA|VA) 1 $45,000 $45,000 $0 0.99%
Kendallville, IN (FHA|USDA|VA) 1 $45,000 $45,000 $0 0.99%
CHAMPAIGN-URBANA, IL (FHA|USDA|VA) 1 $45,000 $45,000 $0 0.99%
Bardstown, KY (FHA|USDA|VA) 1 $45,000 $45,000 $0 0.99%
DES MOINES-WEST DES MOINES, IA (FHA|USDA|VA) 1 $35,000 $35,000 $0 0.99%
Frankfort, IN (FHA|USDA|VA) 1 $35,000 $35,000 $0 3.75%
SIOUX CITY, IA-NE-SD (FHA|USDA|VA) 1 $35,000 $35,000 $0 0.99%
LITTLE ROCK-NORTH LITTLE ROCK-CONWAY, AR (FHA|USDA|VA) 1 $25,000 $25,000 $0 0.99%
PROVIDENCE-WARWICK, RI-MA (FHA|USDA|VA) 1 $25,000 $25,000 $0 0.99%
EUGENE-SPRINGFIELD, OR (FHA|USDA|VA) 1 $15,000 $15,000 $0 0.99%

Elements Financial Federal Credit Union's top markets include Indianapolis, Chicago, Bloomington, Denver, and Washington among others.

Product Mix

Loan Type Originations Total Value Average Loan Average Fees Average Rate
Conventional 2,339 $577,975,000 $247,103 $2,835 2.62%
FHA 26 $5,650,000 $217,308 $6,251 2.96%
VA 8 $2,500,000 $312,500 $5,135 2.81%
USDA 8 $1,600,000 $200,000 $4,538 2.73%

For the 2021 period, Elements Financial Federal Credit Union's most frequently originated loan type of loans were Conventional, with 2,339 originations. Their 2nd most popular type is FHA, with 26 originations.

Loan Reason

Loan Reason Originations Total Value Average Loan Average Fees Average Rate
Home Purchase 1,032 $355,000,000 $343,992 $3,152 2.94%
Home Improvement 447 $40,525,000 $90,660 $772 1.71%
Cash Out Refi 392 $89,970,000 $229,515 $2,875 3.21%
Refi 317 $78,475,000 $247,555 $2,574 2.85%
Other 193 $23,755,000 $123,083 $1,194 1.47%

For the 2021, Elements Financial Federal Credit Union's most frequently cited loan purpose of loans were Home Purchase, with 1,032 originations. The 2nd most popular reason of loans were Home Improvement, with 447 originations.

Loan Duration/Length

Loan Length Originations Total Value Average Loan Average Fees Average Rate
30 Year 1,097 $366,065,000 $333,696 $3,046 3.12%
Other 835 $102,275,000 $122,485 $4,819 1.63%
15 Year 283 $61,855,000 $218,569 $2,344 3.08%
20 Year 76 $26,400,000 $347,368 $2,799 3.31%
10 Year 47 $6,585,000 $140,106 $1,701 4.15%
30+ year 39 $21,315,000 $546,538 $4,881 3.21%
5 Year 3 $3,085,000 $1,028,333 $3,094 3.84%
1 Year 1 $145,000 $145,000 $1,903 6.24%

For the 2021, Elements Financial Federal Credit Union's most frequently cited loan length of loans were 30 Year, with 1,097 originations. The 2nd most popular length of loans were Other, with 835 originations.

Origination Fees

Origination Fee Originations Total Value Average Loan
$<1k 1,259 $395,525,000 $314,158
$1k-2k 231 $63,525,000 $275,000
$2k-3k 29 $10,965,000 $378,103
$3k-4k 10 $3,170,000 $317,000
$5k+ 3 $1,405,000 $468,333

$3,046 of loans were Elements Financial Federal Credit Union's average total fees, while their most frequently occuring range of origination fees were in the $<1k bucket, with 1,259 originations.

Interest Rates

Loan Rate Originations Total Value Average Loan
<2.5% 860 $123,040,000 $143,070
3-4% 738 $231,150,000 $313,211
2.5-3% 662 $209,510,000 $316,480
4-5% 52 $17,670,000 $339,808
5-6% 31 $3,565,000 $115,000
6-7% 17 $1,095,000 $64,412
7-8% 11 $1,195,000 $108,636
Over 8% 10 $500,000 $50,000

During 2021, Elements Financial Federal Credit Union's average interest rate of loans were 3.12%, while their most frequently originated rate bucket of loans were <2.5%, with 860 originations.

Loan Sizing

Loan Size Originations Total Value Average Loan Average Fees Average Rate
$200k-400k 745 $207,155,000 $278,060 $2,909 2.84%
$100k-200k 611 $88,515,000 $144,869 $2,567 2.65%
$100,000 or less 607 $32,855,000 $54,127 $1,876 2.10%
$400k-600k 250 $120,220,000 $480,880 $3,232 2.83%
$600k-1MM 146 $109,010,000 $746,644 $4,215 3.14%
$1MM+ 22 $29,970,000 $1,362,273 $4,435 3.35%

2021 saw Elements Financial Federal Credit Union place emphasis on $200k-400k loans with 745 originations, totaling $207,155,000 in origination value.

Applicant Income

Applicant Income Originations Total Value Average Loan Average Fees Average Rate
$100k-150k 603 $130,615,000 $216,609 $2,790 2.66%
$150k-250k 546 $158,390,000 $290,092 $3,118 2.62%
$50k-75k 372 $55,190,000 $148,360 $2,670 2.51%
$75k-100k 341 $60,915,000 $178,636 $2,669 2.63%
$250k+ 317 $145,625,000 $459,385 $3,497 2.52%
$50k or less 162 $20,330,000 $125,494 $2,800 2.65%

Elements Financial Federal Credit Union lent most frequently to those with incomes in the $100k-150k range, with 603 originations. The second most popular income band? $150k-250k, with 546 originations.

Applicant Debt to Income Ratio

DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
20-30% 688 $160,840,000 $233,779 $2,837 2.55%
<20% 521 $120,725,000 $231,718 $2,713 2.34%
30-36% 385 $90,145,000 $234,143 $2,958 2.74%
38% 66 $15,570,000 $235,909 $2,895 2.74%
37% 62 $16,660,000 $268,710 $2,776 2.81%
36% 60 $18,270,000 $304,500 $3,233 2.75%
39% 60 $17,920,000 $298,667 $2,997 2.85%
40% 57 $14,455,000 $253,596 $3,070 2.94%
42% 56 $15,230,000 $271,964 $3,145 2.89%
43% 55 $14,875,000 $270,455 $3,086 2.53%
41% 48 $16,100,000 $335,417 $3,104 2.91%
44% 48 $13,300,000 $277,083 $3,270 2.94%
45% 43 $12,365,000 $287,558 $2,639 2.88%
46% 41 $9,695,000 $236,463 $3,305 2.69%
47% 37 $9,075,000 $245,270 $2,849 3.08%
49% 33 $7,465,000 $226,212 $3,550 2.67%
50-60% 33 $6,425,000 $194,697 $4,596 2.11%
48% 32 $8,540,000 $266,875 $3,054 2.59%
>60% 31 $5,325,000 $171,774 $2,219 2.45%

Elements Financial Federal Credit Union lent most frequently to those with DTI ratios of 20-30%, with 688 originations. The next most common DTI ratio? <20%, with 521 originations.

Ethnicity Mix

Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
White 1,917 $455,275,000 $237,493 $2,867 2.61%
Not provided 190 $45,380,000 $238,842 $2,924 2.62%
Asian 110 $35,280,000 $320,727 $3,423 2.35%
Black 118 $25,410,000 $215,339 $2,954 2.67%
Not applicable 18 $13,210,000 $733,889 $0 4.84%
Asian Indian 13 $7,955,000 $611,923 $3,791 2.93%
American Indian 9 $2,995,000 $332,778 $3,577 2.68%
Chinese 2 $980,000 $490,000 $3,228 3.31%
Other Asian 3 $955,000 $318,333 $2,878 3.00%
Vietnamese 1 $285,000 $285,000 $3,030 2.75%

Approval Rates

Total approvals of all applications
90.10%

Elements Financial Federal Credit Union has an average approval rate.

Pick Rate

Approvals leading to origination
75.65%

Elements Financial Federal Credit Union has a below average pick rate.

Points and Fees

Points Originations Total Value Average Loan
NA 2,381 $587,725,000 $246,840

Occupancy Type Mix

Dwelling Type Originations Total Value Average Loan
2,381 $587,725,000 $246,840

LTV Distribution

Loan to Value Originations Total Value Average Loan Average Fees Average Rate
20-40% 354 $46,910,000 $132,514 $2,318 2.04%
40-60% 292 $61,470,000 $210,514 $2,503 2.54%
60-80% 526 $156,460,000 $297,452 $2,901 3.02%
80-100% 784 $295,840,000 $377,347 $3,190 3.05%
Over 100% 1 $295,000 $295,000 $11,828 2.75%
Under 20% 424 $26,750,000 $63,090 $983 1.90%