Ih Credit Union Mortgage Rates, Fees & Info
SPRINGFIELD, OHLEI: 549300OZV7J05G72WS11
Tax ID: 31-0502711
Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data
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Mortgage Data
Review & Overview
Ih Credit Union is a smaller credit union specializing in Home Purchase and Cash Out Refi loans. Ih Credit Union has a high proportion of conventional loans. Their top markets by origination volume include: Springfield, Urbana, Dayton, Columbus, and Bellefontaine among others. We have data for 6 markets. (Some data included below & more in-depth data is available with an active subscription.)Ih 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.
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Originations
40Origination Dollar Volume (All Markets)
$4,260,000Top 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 |
|---|---|---|---|---|---|
| SPRINGFIELD, OH (FHA|USDA|VA) | 26 | $2,740,000 | $105,385 | $0 | 0.00% |
| Urbana, OH (FHA|USDA|VA) | 8 | $810,000 | $101,250 | $0 | 0.00% |
| DAYTON-KETTERING, OH (FHA|USDA|VA) | 3 | $535,000 | $178,333 | $0 | 0.00% |
| Outside of Metro Areas | 1 | $75,000 | $75,000 | $0 | 0.00% |
| COLUMBUS, OH (FHA|USDA|VA) | 1 | $55,000 | $55,000 | $0 | 0.00% |
| Bellefontaine, OH (FHA|USDA|VA) | 1 | $45,000 | $45,000 | $0 | 0.00% |
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 40 | $4,260,000 | $106,500 | $0 | 0.00% |
For 2022, Ih Credit Union's most frequently originated type of loan was Conventional, with 40 originations.
Loan Reason
| Loan Reason | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Home Purchase | 21 | $2,275,000 | $108,333 | $0 | 0.00% |
| Cash Out Refi | 16 | $1,690,000 | $105,625 | $0 | 0.00% |
| Refi | 3 | $295,000 | $98,333 | $0 | 0.00% |
For 2022, Ih Credit Union's most frequently cited loan purpose was Home Purchase, with 21 originations. The 2nd most popular reason was Cash Out Refi, with 16 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Other | 40 | $4,260,000 | $106,500 | $0 | 0.00% |
For 2022, Ih Credit Union's most frequently cited loan duration was Other, with 40 originations.
Loan Sizing
2022 saw Ih Credit Union place emphasis on $100,000 or less loans with 22 originations, totaling $1,400,000 in origination value.
Applicant Income
Ih Credit Union lent most frequently to those with incomes in the $50k or less range, with 15 originations. The second most popular income band? $50k-75k, with 12 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Exempt% | 40 | $4,260,000 | $106,500 | $0 | 0.00% |
Ih Credit Union lent most frequently to those with DTI ratios of Exempt%, with 40 originations.
Ethnicity Mix
| Applicant Ethnicity | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| White | 30 | $3,530,000 | $117,667 | $0 | 0.00% |
| Not provided | 7 | $535,000 | $76,429 | $0 | 0.00% |
| Black | 3 | $195,000 | $65,000 | $0 | 0.00% |
Approval Rates
Total approvals of all applications86.36%
Ih Credit Union has an average approval rate.
Pick Rate
Approvals leading to origination67.50%
Ih 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 |
|---|---|---|---|
| Exempt | 40 | $4,260,000 | $106,500 |