Elements Financial Federal Credit Union Mortgage Rates, Fees & Info
Indianapolis, INLEI: 549300NZWZUYUWEOA562
Tax ID: 35-6022541
2021 Data | 2020 Data | 2019 Data | 2018 Data
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Mortgage 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
2,381Origination Dollar Volume (All Markets)
$587,725,000Awards
Elements Financial Federal Credit Union - 2021
Elements Financial Federal Credit Union is a 2021 , due to their low .
For 2021, less than of lenders were eligible for this award.
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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% |
| Cañon 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 applications90.10%
Elements Financial Federal Credit Union has an average approval rate.
Pick Rate
Approvals leading to origination75.65%
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% |
