True North Federal Credit Union Mortgage Rates, Fees & Info

Juneau, AK

LEI: 549300QWJ0FR6RCHNK90

Tax ID: 92-0035331

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

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  • SimulatedRates™
  • Mortgage Calculator

    • Mortgage Data

  • Originations
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • Similar Lenders
  • 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

    True North Federal Credit Union is a smaller credit union specializing in Home Purchase and Cash Out Refi loans. True North Federal Credit Union has a high proportion of conventional loans. They have an average proportion of FHA loans. Their top markets by origination volume include: Juneau, Anchorage, Olympia, Spokane, and Fairbanks among others. We have data for 8 markets. (Some data included below & more in-depth data is available with an active subscription.)

    True North 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. True North Federal Credit Union is typically an average 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.

    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.

    SimulatedRates™

    Mortgage Type     		Simulated Rate Simulation Date
    30 Year Conventional Purchase 6.51% 12/3/24
    30 Year Conventional Refi 6.46% 12/3/24
    30 Year Cash-out Refi 6.27% 12/3/24
    30 Year FHA Purchase 6.83% 12/3/24
    30 Year VA Purchase 5.66% 12/3/24
    30 Year VA Refi 6.27% 12/3/24
    30 Year USDA Purchase 6.62% 12/3/24
    15 Year Conventional Purchase 6.17% 12/3/24
    15 Year Conventional Refi 6.09% 12/3/24
    15 Year Cash-out Refi 6.09% 12/3/24
    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.

    True North 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 True North 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

    115

    Origination Dollar Volume (All Markets)

    $26,655,000
    Show all (6) awards

    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
    Juneau, AK (FHA|USDA|VA) 87 $21,225,000 $243,966 $5,981 4.14%
    Outside of Metro Areas 10 $2,250,000 $225,000 $6,050 4.06%
    ANCHORAGE, AK (FHA|USDA|VA) 13 $2,245,000 $172,692 $4,366 4.80%
    OLYMPIA-LACEY-TUMWATER, WA (FHA|USDA|VA) 1 $295,000 $295,000 $6,002 3.75%
    SPOKANE-SPOKANE VALLEY, WA (FHA|USDA|VA) 1 $215,000 $215,000 $7,592 4.88%
    Outside of Metro Areas 1 $185,000 $185,000 $4,608 3.63%
    FAIRBANKS, AK (FHA|USDA|VA) 1 $135,000 $135,000 $2,280 3.50%
    YAKIMA, WA (FHA|USDA|VA) 1 $105,000 $105,000 $2,512 4.75%
    True North Federal Credit Union's top markets include Juneau, Anchorage, Olympia, Spokane, and Fairbanks among others.

    Their top states include:
  • Alaska (FHA|USDA|VA)
  • Washington (FHA|USDA|VA)
  • Idaho (FHA|USDA|VA)

    • Similar Lenders

    We use machine learning to identify the top lenders compared against TRUE NORTH FEDERAL CREDIT UNION based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.

    TRUE NORTH FEDERAL CREDIT UNION
    Similarity Rank: 72
    RESIDENTIAL MORTGAGE, LLC
    Similarity Rank: 126
    Alaska USA Mortgage Company LLC
    Similarity Rank: 319
    Wells Fargo Bank
    Similarity Rank: 5538
    CORNERSTONE HOME LENDING, INC.
    Similarity Rank: 6060
    QUICKEN LOANS, LLC
    Similarity Rank: 9280

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 73 $14,015,000 $191,986 $4,090 4.68%
    VA 16 $5,360,000 $335,000 $9,596 3.35%
    USDA 14 $4,060,000 $290,000 $7,443 3.44%
    FHA 12 $3,220,000 $268,333 $8,363 3.60%

    For 2019, True North Federal Credit Union's most frequently originated type of loan was Conventional, with 73 originations. Their 2nd most popular type was VA, with 16 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 57 $14,185,000 $248,860 $6,267 3.98%
    Cash Out Refi 29 $7,365,000 $253,966 $6,436 4.01%
    Refi 18 $4,570,000 $253,889 $5,773 3.84%
    Other 6 $230,000 $38,333 $710 7.56%
    Home Improvement 4 $130,000 $32,500 $814 7.00%
    NA 1 $175,000 $175,000 $0 0.00%

    For 2019, True North Federal Credit Union's most frequently cited loan purpose was Home Purchase, with 57 originations. The 2nd most popular reason was Cash Out Refi, with 29 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 73 $21,465,000 $294,041 $7,412 3.67%
    Other 16 $1,900,000 $118,750 $2,297 5.88%
    10 Year 10 $840,000 $84,000 $2,155 5.57%
    15 Year 9 $1,885,000 $209,444 $4,639 3.75%
    5 Year 4 $80,000 $20,000 $714 7.25%
    20 Year 3 $485,000 $161,667 $4,520 4.25%

    For 2019, True North Federal Credit Union's most frequently cited loan duration was 30 Year, with 73 originations. The 2nd most popular length was Other, with 16 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $2k-3k 29 $6,735,000 $232,241
    $<1k 26 $3,080,000 $118,462
    $3k-4k 19 $5,975,000 $314,474
    $1k-2k 16 $2,160,000 $135,000
    $4k-5k 11 $4,075,000 $370,455
    $5k+ 9 $3,735,000 $415,000

    True North Federal Credit Union's average total fees were $7,412, while their most frequently occuring range of origination fees (closing costs) were in the $2k-3k bucket, with 29 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    3-4% 65 $17,855,000 $274,692
    4-5% 13 $3,135,000 $241,154
    2.5-3% 12 $3,900,000 $325,000
    6-7% 11 $615,000 $55,909
    7-8% 6 $190,000 $31,667
    5-6% 2 $150,000 $75,000

    During 2019, True North Federal Credit Union's average interest rate for loans was 3.67%, while their most frequently originated rate bucket for loans was 3-4%, with 65 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 60 $17,170,000 $286,167 $7,250 3.58%
    $100k-200k 23 $3,505,000 $152,391 $4,155 4.05%
    $100,000 or less 21 $945,000 $45,000 $1,315 6.73%
    $400k-600k 11 $5,035,000 $457,727 $9,327 3.72%

    2019 saw True North Federal Credit Union place emphasis on $200k-400k loans with 60 originations, totaling $17,170,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 39 $8,675,000 $222,436 $6,026 4.13%
    $100k-150k 23 $6,505,000 $282,826 $6,922 4.07%
    $75k-100k 20 $4,420,000 $221,000 $5,871 4.32%
    $50k or less 16 $1,980,000 $123,750 $2,887 4.68%
    $150k-250k 15 $4,665,000 $311,000 $6,114 4.04%

    True North Federal Credit Union lent most frequently to those with incomes in the $50k-75k range, with 39 originations. The second most popular income band? $100k-150k, with 23 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    30-36% 29 $5,465,000 $188,448 $5,217 4.47%
    20-30% 22 $5,810,000 $264,091 $6,051 3.86%
    36% 7 $2,025,000 $289,286 $7,586 3.95%
    40% 7 $1,465,000 $209,286 $5,309 4.96%
    45% 7 $1,415,000 $202,143 $4,683 4.08%
    <20% 6 $1,650,000 $275,000 $7,254 3.48%
    43% 5 $1,315,000 $263,000 $5,865 3.75%
    50-60% 4 $780,000 $195,000 $3,819 4.63%
    41% 4 $1,120,000 $280,000 $7,859 3.67%
    44% 4 $790,000 $197,500 $4,896 4.42%
    47% 4 $730,000 $182,500 $5,308 4.84%
    42% 3 $735,000 $245,000 $5,064 4.54%
    38% 3 $815,000 $271,667 $9,213 3.13%
    39% 3 $775,000 $258,333 $5,556 4.71%
    37% 2 $260,000 $130,000 $3,453 5.13%
    48% 2 $510,000 $255,000 $5,363 4.25%
    49% 1 $515,000 $515,000 $9,116 3.88%
    46% 1 $245,000 $245,000 $5,676 3.50%

    True North Federal Credit Union lent most frequently to those with DTI ratios of 30-36%, with 29 originations. The next most common DTI ratio? 20-30%, with 22 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 79 $19,425,000 $245,886 $6,134 4.13%
    American Indian 15 $3,795,000 $253,000 $5,894 3.98%
    Not provided 10 $1,790,000 $179,000 $3,744 4.42%
    Asian 7 $1,065,000 $152,143 $4,220 4.63%
    Native Hawaiian or Islander 2 $370,000 $185,000 $4,916 5.13%
    Not applicable 1 $175,000 $175,000 $0 0.00%
    Black 1 $35,000 $35,000 $639 7.75%

    Approval Rates

    Total approvals of all applications
    86.45%

    True North Federal Credit Union has an average approval rate.

    Pick Rate

    Approvals leading to origination
    83.48%

    True North Federal Credit Union has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 115 $26,655,000 $231,783

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Site-Built 2 $410,000 $205,000
    Single Family (1-4 Units):Manufactured 11 $1,005,000 $91,364
    Single Family (1-4 Units):Site-Built 102 $25,240,000 $247,451

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 4 $370,000 $92,500 $2,854 4.81%
    40-60% 11 $1,695,000 $154,091 $3,405 4.08%
    60-80% 28 $7,150,000 $255,357 $6,128 4.21%
    80-100% 49 $13,955,000 $284,796 $7,002 3.77%
    Over 100% 8 $2,380,000 $297,500 $8,995 3.36%
    Under 20% 12 $410,000 $34,167 $767 7.25%