Elements Financial Federal Credit Union Mortgage Rates, Fees & Info
Indianapolis, INLEI: 549300NZWZUYUWEOA562
Tax ID: 35-6022541
Latest/2024 | 2023 Data | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data
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Mortgage Data
Review & 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.) Their top markets by origination volume include: Indianapolis, Bloomington, Lafayette, Chicago, and Atlanta among others. We have data for 118 markets. (Some data included below & more in-depth data is available with an active subscription.)Elements Financial 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. Elements Financial Federal Credit Union is typically a low fee lender. (We use the term "fees" to include things like closing costs and other costs incurred by borrowers-- whether they are paid out of pocket or rolled into the loan.) 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.
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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| Home Equity Line of Credit (HELOC) | 4.21% | 4/5/25 |
| 30 Year Conventional Purchase | 6.89% | 4/5/25 |
| 30 Year Conventional Refi | 7.37% | 4/5/25 |
| 30 Year Cash-out Refi | 7.22% | 4/5/25 |
| 30 Year FHA Purchase | 7.15% | 4/5/25 |
| 30 Year FHA Refi | 9.33% | 4/5/25 |
| 30 Year VA Purchase | 6.43% | 4/5/25 |
| 30 Year USDA Purchase | 6.72% | 4/5/25 |
| 15 Year Conventional Purchase | 6.84% | 4/5/25 |
| 15 Year Conventional Refi | 8.32% | 4/5/25 |
| 15 Year Cash-out Refi | 8.32% | 4/5/25 |
| These are simulated rates generated by our proprietary machine learning models. These are not guaranteed by the bank. They are our estimates based on a lender's past behaviors combined with current market conditions. Contact an individual lender for their actual rates. Our models use fixed rate terms for conforming loans, 700+ FICO, 10% down for FHA and 20% for conventional. These are based on consensus, historical data-- not advertised promotional rates. | ||
Elements Financial Federal Credit Union Mortgage Calculator
Your Estimates
Estimated Loan Payment: Update the calculator values and click calculate payment!
This is not an official calculator from Elements Financial Federal Credit Union. It uses our SimulatedRate™
technology, basic math and reasonable assumptions to calculate mortgage payments derived from our simulations and your inputs.
The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
1,287Origination Dollar Volume (All Markets)
$283,125,000Awards
Elements Financial Federal Credit Union - 2024
Elements Financial Federal Credit Union is a 2024 , due to their low .
For 2024, 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 mortgage rate was
6.6%.
The 2024 average 30 year fixed rate mortgage across all markets and lenders was 6.55%.
This yields a difference of 0.05%.
Relative Fees (Closing Costs)
Elements Financial Federal Credit Union's average total fees/closing costs for a 30 year fixed rate
mortgage were $3,850.
The average total origination fees for 30 year fixed rate mortgages across all lenders (for all loan values, including
both points & up-front fees in addition to origination fees) were $8,356.
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 |
|---|---|---|---|---|---|
| INDIANAPOLIS-CARMEL-ANDERSON, IN (FHA|USDA|VA) | 998 | $221,190,000 | $221,633 | $3,318 | 6.44% |
| BLOOMINGTON, IN (FHA|USDA|VA) | 17 | $5,165,000 | $303,824 | $3,171 | 6.47% |
| Outside of Metro Areas | 18 | $2,680,000 | $148,889 | $3,458 | 6.77% |
| LAFAYETTE-WEST LAFAYETTE, IN (FHA|USDA|VA) | 13 | $2,465,000 | $189,615 | $4,377 | 5.77% |
| Chicago-Naperville-Elgin, IL-IN-WI (FHA|USDA|VA) | 16 | $2,430,000 | $151,875 | $1,985 | 6.06% |
| ATLANTA-SANDY SPRINGS-ALPHARETTA, GA (FHA|USDA|VA) | 9 | $2,335,000 | $259,444 | $3,665 | 7.10% |
| Washington-Arlington-Alexandria, DC-VA-MD-WV (FHA|USDA|VA) | 7 | $2,155,000 | $307,857 | $8,084 | 5.33% |
| TERRE HAUTE, IN (FHA|USDA|VA) | 13 | $1,815,000 | $139,615 | $2,545 | 6.68% |
| Philadelphia-Camden-Wilmington, PA-NJ-DE-MD (FHA|USDA|VA) | 7 | $1,795,000 | $256,429 | $5,528 | 7.44% |
| RALEIGH-CARY, NC (FHA|USDA|VA) | 4 | $1,480,000 | $370,000 | $3,641 | 5.90% |
| HILTON HEAD ISLAND-BLUFFTON, SC (FHA|USDA|VA) | 3 | $1,345,000 | $448,333 | $5,225 | 6.20% |
| Dallas-Fort Worth-Arlington, TX (FHA|USDA|VA) | 5 | $1,205,000 | $241,000 | $5,575 | 7.01% |
| New York-Newark-Jersey City, NY-NJ-PA (FHA|USDA|VA) | 4 | $1,190,000 | $297,500 | $6,667 | 5.24% |
| DENVER-AURORA-LAKEWOOD, CO (FHA|USDA|VA) | 4 | $1,180,000 | $295,000 | $4,724 | 5.50% |
| Crawfordsville, IN (FHA|USDA|VA) | 4 | $1,170,000 | $292,500 | $3,007 | 6.93% |
| COLORADO SPRINGS, CO (FHA|USDA|VA) | 8 | $1,150,000 | $143,750 | $0 | 4.99% |
| FORT WAYNE, IN (FHA|USDA|VA) | 6 | $1,070,000 | $178,333 | $2,872 | 6.31% |
| CHARLOTTE-CONCORD-GASTONIA, NC-SC (FHA|USDA|VA) | 5 | $1,025,000 | $205,000 | $3,369 | 5.97% |
| PORTLAND-VANCOUVER-HILLSBORO, OR-WA (FHA|USDA|VA) | 2 | $980,000 | $490,000 | $5,769 | 6.06% |
| PORTLAND-SOUTH PORTLAND, ME (FHA|USDA|VA) | 3 | $965,000 | $321,667 | $0 | 6.75% |
| COLUMBUS, IN (FHA|USDA|VA) | 4 | $900,000 | $225,000 | $3,013 | 6.37% |
| Frankfort, IN (FHA|USDA|VA) | 3 | $885,000 | $295,000 | $4,311 | 6.50% |
| MINNEAPOLIS-ST. PAUL-BLOOMINGTON, MN-WI (FHA|USDA|VA) | 3 | $855,000 | $285,000 | $4,163 | 5.75% |
| San Francisco-Oakland-Berkeley, CA (FHA|USDA|VA) | 4 | $840,000 | $210,000 | $8,313 | 7.14% |
| KOKOMO, IN (FHA|USDA|VA) | 3 | $825,000 | $275,000 | $7,411 | 6.21% |
| Boston-Cambridge-Newton, MA-NH (FHA|USDA|VA) | 2 | $800,000 | $400,000 | $4,343 | 5.56% |
| NILES, MI (FHA|USDA|VA) | 1 | $755,000 | $755,000 | $6,320 | 6.50% |
| SOUTH BEND-MISHAWAKA, IN-MI (FHA|USDA|VA) | 1 | $725,000 | $725,000 | $8,930 | 7.00% |
| CHARLESTON-NORTH CHARLESTON, SC (FHA|USDA|VA) | 1 | $705,000 | $705,000 | $5,265 | 7.13% |
| BIRMINGHAM-HOOVER, AL (FHA|USDA|VA) | 2 | $650,000 | $325,000 | $1,693 | 6.37% |
| KAHULUI-WAILUKU-LAHAINA, HI (FHA|USDA|VA) | 1 | $635,000 | $635,000 | $3,421 | 6.13% |
| TUCSON, AZ (FHA|USDA|VA) | 3 | $625,000 | $208,333 | $5,598 | 4.54% |
| Los Angeles-Long Beach-Anaheim, CA (FHA|USDA|VA) | 3 | $595,000 | $198,333 | $1,022 | 8.45% |
| DURHAM-CHAPEL HILL, NC (FHA|USDA|VA) | 2 | $570,000 | $285,000 | $3,673 | 6.63% |
| Show Low, AZ (FHA|USDA|VA) | 1 | $555,000 | $555,000 | $5,774 | 6.50% |
| Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) | 3 | $545,000 | $181,667 | $5,146 | 6.24% |
| Heber, UT (FHA|USDA|VA) | 1 | $505,000 | $505,000 | $6,613 | 6.50% |
| ANN ARBOR, MI (FHA|USDA|VA) | 1 | $495,000 | $495,000 | $0 | 5.99% |
| SAN DIEGO-CHULA VISTA-CARLSBAD, CA (FHA|USDA|VA) | 1 | $495,000 | $495,000 | $0 | 8.50% |
| CINCINNATI, OH-KY-IN (FHA|USDA|VA) | 5 | $485,000 | $97,000 | $2,268 | 5.14% |
| PENSACOLA-FERRY PASS-BRENT, FL (FHA|USDA|VA) | 1 | $485,000 | $485,000 | $0 | 3.99% |
| Traverse City, MI (FHA|USDA|VA) | 1 | $435,000 | $435,000 | $4,633 | 7.63% |
| Searcy, AR (FHA|USDA|VA) | 1 | $405,000 | $405,000 | $0 | 8.75% |
| MUNCIE, IN (FHA|USDA|VA) | 3 | $405,000 | $135,000 | $4,612 | 6.29% |
| North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) | 4 | $390,000 | $97,500 | $3,815 | 6.46% |
| HUNTSVILLE, AL (FHA|USDA|VA) | 1 | $385,000 | $385,000 | $3,334 | 6.75% |
| AKRON, OH (FHA|USDA|VA) | 2 | $380,000 | $190,000 | $2,400 | 6.94% |
| PUNTA GORDA, FL (FHA|USDA|VA) | 2 | $380,000 | $190,000 | $2,701 | 7.80% |
| Washington, IN (FHA|USDA|VA) | 1 | $375,000 | $375,000 | $3,127 | 6.88% |
| PROVIDENCE-WARWICK, RI-MA (FHA|USDA|VA) | 1 | $375,000 | $375,000 | $3,899 | 6.63% |
| MILWAUKEE-WAUKESHA, WI (FHA|USDA|VA) | 2 | $360,000 | $180,000 | $2,183 | 5.43% |
| COLUMBUS, GA-AL (FHA|USDA|VA) | 1 | $345,000 | $345,000 | $3,996 | 7.00% |
| LOUISVILLE, KY (FHA|USDA|VA) | 1 | $345,000 | $345,000 | $9,881 | 6.13% |
| Huntington, IN (FHA|USDA|VA) | 2 | $340,000 | $170,000 | $3,004 | 6.50% |
| TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) | 1 | $335,000 | $335,000 | $3,554 | 6.88% |
| ASHEVILLE, NC (FHA|USDA|VA) | 1 | $325,000 | $325,000 | $4,139 | 7.00% |
| MEMPHIS, TN-MS-AR (FHA|USDA|VA) | 2 | $320,000 | $160,000 | $7,799 | 6.25% |
| RENO, NV (FHA|USDA|VA) | 1 | $305,000 | $305,000 | $0 | 4.99% |
| YORK-HANOVER, PA (FHA|USDA|VA) | 1 | $305,000 | $305,000 | $8,606 | 6.88% |
| Warsaw, IN (FHA|USDA|VA) | 2 | $300,000 | $150,000 | $2,557 | 5.18% |
| Mount Vernon, OH (FHA|USDA|VA) | 1 | $295,000 | $295,000 | $0 | 3.99% |
| ST. LOUIS, MO-IL (FHA|USDA|VA) | 2 | $290,000 | $145,000 | $4,005 | 5.37% |
| PITTSBURGH, PA (FHA|USDA|VA) | 2 | $280,000 | $140,000 | $3,841 | 7.69% |
| HOUSTON-THE WOODLANDS-SUGAR LAND, TX (FHA|USDA|VA) | 2 | $280,000 | $140,000 | $1,428 | 6.29% |
| GRAND RAPIDS-KENTWOOD, MI (FHA|USDA|VA) | 1 | $235,000 | $235,000 | $0 | 4.99% |
| LEXINGTON-FAYETTE, KY (FHA|USDA|VA) | 1 | $235,000 | $235,000 | $3,913 | 6.88% |
| LAKELAND-WINTER HAVEN, FL (FHA|USDA|VA) | 1 | $225,000 | $225,000 | $4,497 | 6.88% |
| MADISON, WI (FHA|USDA|VA) | 1 | $225,000 | $225,000 | $898 | 9.84% |
| PANAMA CITY, FL (FHA|USDA|VA) | 1 | $205,000 | $205,000 | $4,050 | 6.50% |
| WILMINGTON, NC (FHA|USDA|VA) | 1 | $205,000 | $205,000 | $0 | 5.99% |
| New Castle, IN (FHA|USDA|VA) | 3 | $205,000 | $68,333 | $1,044 | 6.69% |
| SCRANTON--WILKES-BARRE, PA (FHA|USDA|VA) | 1 | $205,000 | $205,000 | $6,634 | 5.88% |
| Marion, IN (FHA|USDA|VA) | 2 | $190,000 | $95,000 | $0 | 5.49% |
| Jefferson, GA (FHA|USDA|VA) | 1 | $185,000 | $185,000 | $0 | 5.99% |
| Brainerd, MN (FHA|USDA|VA) | 1 | $185,000 | $185,000 | $0 | 4.99% |
| EUGENE-SPRINGFIELD, OR (FHA|USDA|VA) | 1 | $185,000 | $185,000 | $0 | 8.50% |
| AUGUSTA-RICHMOND COUNTY, GA-SC (FHA|USDA|VA) | 1 | $185,000 | $185,000 | $5,035 | 6.38% |
| RICHMOND, VA (FHA|USDA|VA) | 1 | $175,000 | $175,000 | $0 | 5.99% |
| Bogalusa, LA (FHA|USDA|VA) | 1 | $175,000 | $175,000 | $6,227 | 7.25% |
| COLUMBUS, OH (FHA|USDA|VA) | 1 | $165,000 | $165,000 | $0 | 3.99% |
| BOWLING GREEN, KY (FHA|USDA|VA) | 1 | $165,000 | $165,000 | $3,319 | 6.88% |
| OXNARD-THOUSAND OAKS-VENTURA, CA (FHA|USDA|VA) | 1 | $155,000 | $155,000 | $0 | 4.99% |
| LANCASTER, PA (FHA|USDA|VA) | 1 | $155,000 | $155,000 | $0 | 5.99% |
| PHOENIX-MESA-CHANDLER, AZ (FHA|USDA|VA) | 1 | $135,000 | $135,000 | $0 | 9.50% |
| HARRISBURG-CARLISLE, PA (FHA|USDA|VA) | 1 | $135,000 | $135,000 | $3,491 | 5.88% |
| LA CROSSE-ONALASKA, WI-MN (FHA|USDA|VA) | 1 | $135,000 | $135,000 | $2,724 | 5.50% |
| DAVENPORT-MOLINE-ROCK ISLAND, IA-IL (FHA|USDA|VA) | 1 | $135,000 | $135,000 | $1,414 | 10.34% |
| HICKORY-LENOIR-MORGANTON, NC (FHA|USDA|VA) | 1 | $125,000 | $125,000 | $4,653 | 5.88% |
| CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) | 1 | $125,000 | $125,000 | $0 | 5.99% |
| CLEVELAND, TN (FHA|USDA|VA) | 1 | $125,000 | $125,000 | $0 | 3.99% |
| SPRINGFIELD, MA (FHA|USDA|VA) | 1 | $105,000 | $105,000 | $0 | 5.99% |
| CUMBERLAND, MD-WV (FHA|USDA|VA) | 1 | $105,000 | $105,000 | $0 | 8.50% |
| CLEVELAND-ELYRIA, OH (FHA|USDA|VA) | 1 | $105,000 | $105,000 | $0 | 4.99% |
| Seneca, SC (FHA|USDA|VA) | 1 | $105,000 | $105,000 | $0 | 5.99% |
| GREENVILLE-ANDERSON, SC (FHA|USDA|VA) | 1 | $105,000 | $105,000 | $2,542 | 6.38% |
| Kalispell, MT (FHA|USDA|VA) | 1 | $105,000 | $105,000 | $0 | 3.99% |
| SIOUX CITY, IA-NE-SD (FHA|USDA|VA) | 1 | $95,000 | $95,000 | $0 | 9.75% |
| Greensburg, IN (FHA|USDA|VA) | 2 | $90,000 | $45,000 | $0 | 6.25% |
| DELTONA-DAYTONA BEACH-ORMOND BEACH, FL (FHA|USDA|VA) | 1 | $85,000 | $85,000 | $0 | 4.99% |
| CRESTVIEW-FORT WALTON BEACH-DESTIN, FL (FHA|USDA|VA) | 1 | $75,000 | $75,000 | $0 | 3.99% |
| ANCHORAGE, AK (FHA|USDA|VA) | 1 | $75,000 | $75,000 | $0 | 4.99% |
| McComb, MS (FHA|USDA|VA) | 1 | $75,000 | $75,000 | $898 | 8.59% |
| KANSAS CITY, MO-KS (FHA|USDA|VA) | 1 | $75,000 | $75,000 | $0 | 5.99% |
| SAN ANTONIO-NEW BRAUNFELS, TX (FHA|USDA|VA) | 1 | $65,000 | $65,000 | $0 | 5.99% |
| ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) | 1 | $65,000 | $65,000 | $0 | 5.99% |
| BALTIMORE-COLUMBIA-TOWSON, MD (FHA|USDA|VA) | 1 | $55,000 | $55,000 | $0 | 5.99% |
| ELKHART-GOSHEN, IN (FHA|USDA|VA) | 1 | $55,000 | $55,000 | $920 | 8.59% |
| BOULDER, CO (FHA|USDA|VA) | 1 | $55,000 | $55,000 | $0 | 8.50% |
| NASHVILLE-DAVIDSON-MURFREESBORO-FRANKLIN, TN (FHA|USDA|VA) | 1 | $55,000 | $55,000 | $898 | 9.59% |
| LEBANON, PA (FHA|USDA|VA) | 1 | $55,000 | $55,000 | $898 | 10.84% |
| TULSA, OK (FHA|USDA|VA) | 1 | $45,000 | $45,000 | $0 | 5.99% |
| FORT COLLINS, CO (FHA|USDA|VA) | 1 | $35,000 | $35,000 | $0 | 5.99% |
| OMAHA-COUNCIL BLUFFS, NE-IA (FHA|USDA|VA) | 1 | $35,000 | $35,000 | $0 | 4.99% |
| MOBILE, AL (FHA|USDA|VA) | 1 | $35,000 | $35,000 | $0 | 4.99% |
| Tullahoma-Manchester, TN (FHA|USDA|VA) | 1 | $35,000 | $35,000 | $0 | 5.99% |
| SIERRA VISTA-DOUGLAS, AZ (FHA|USDA|VA) | 1 | $35,000 | $35,000 | $0 | 5.99% |
| SPRINGFIELD, MO (FHA|USDA|VA) | 1 | $25,000 | $25,000 | $0 | 3.99% |
| WEIRTON-STEUBENVILLE, WV-OH (FHA|USDA|VA) | 1 | $25,000 | $25,000 | $0 | 5.99% |
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Product Mix
For 2024, Elements Financial Federal Credit Union's most frequently originated type of loan was HELOC, with 628 originations. Their 2nd most popular type was Conventional, with 610 originations.
Loan Reason
For 2024, Elements Financial Federal Credit Union's most frequently cited loan purpose was Home Purchase, with 585 originations. The 2nd most popular reason was Home Improvement, with 309 originations.
Loan Duration/Length
For 2024, Elements Financial Federal Credit Union's most frequently cited loan duration was Other, with 630 originations. The 2nd most popular length was 30 Year, with 507 originations.
Origination Fees/Closing Costs
Elements Financial Federal Credit Union's average total fees were $3,850, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 455 originations.
Interest Rates
During 2024, Elements Financial Federal Credit Union's average interest rate for loans was 6.60%, while their most frequently originated rate bucket for loans was 6-7%, with 393 originations.
Loan Sizing
2024 saw Elements Financial Federal Credit Union place emphasis on $200k-400k loans with 407 originations, totaling $115,005,000 in origination value.
Applicant Income
Elements Financial Federal Credit Union lent most frequently to those with incomes in the $150k-250k range, with 386 originations. The second most popular income band? $100k-150k, with 312 originations.
Applicant Debt to Income Ratio
Elements Financial Federal Credit Union lent most frequently to those with DTI ratios of 20-30%, with 328 originations. The next most common DTI ratio? 30-36%, with 253 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications86.13%
Elements Financial Federal Credit Union has an average approval rate.
Pick Rate
Approvals leading to origination77.00%
Elements Financial Federal Credit Union has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 1,287 | $283,125,000 | $219,988 |