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

Jump to:

  • SimulatedRates™
  • Mortgage Calculator

    • Mortgage Data

  • Originations
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • Complaints
  • 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 Refi loans. True North Federal Credit Union has a high proportion of conventional loans. They have an average proportion of FHA loans. Their top two markets are Juneau and Anchorage .

    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% 4/21/24
    30 Year Conventional Refi 6.46% 4/21/24
    30 Year Cash-out Refi 6.27% 4/21/24
    30 Year FHA Purchase 6.83% 4/21/24
    30 Year VA Purchase 5.66% 4/21/24
    30 Year VA Refi 6.27% 4/21/24
    30 Year USDA Purchase 6.62% 4/21/24
    15 Year Conventional Purchase 6.17% 4/21/24
    15 Year Conventional Refi 6.09% 4/21/24
    15 Year Cash-out Refi 6.09% 4/21/24
    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

    141

    Origination Dollar Volume (All Markets)

    $43,325,000

    Awards

    TRUE NORTH FEDERAL CREDIT UNION FHA Loans gold TRUE NORTH FEDERAL CREDIT UNION FHA Loans gold TRUE NORTH FEDERAL CREDIT UNION USDA Loans gold TRUE NORTH FEDERAL CREDIT UNION VA Loans silver
    Show all (4) 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) 116 $37,010,000 $319,052 $7,435 2.98%
    ANCHORAGE, AK (FHA|USDA|VA) 14 $4,370,000 $312,143 $7,937 3.01%
    Outside of Metro Areas 11 $1,945,000 $176,818 $4,504 4.25%
    True North Federal Credit Union's top markets include Juneau and Anchorage among others.

    Their top states include:
  • Alaska (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.

    First National Bank Alaska
    Similarity Rank: 35
    TRUE NORTH FEDERAL CREDIT UNION
    Similarity Rank: 81
    Alaska USA Mortgage Company LLC
    Similarity Rank: 124
    RESIDENTIAL MORTGAGE, LLC
    Similarity Rank: 567
    AMERISAVE MORTGAGE CORPORATION
    Similarity Rank: 1696
    BOKF
    Similarity Rank: 3330
    LOANDEPOT.COM, LLC
    Similarity Rank: 9140
    Wells Fargo Bank
    Similarity Rank: 9190
    CORNERSTONE HOME LENDING, INC.
    Similarity Rank: 9772
    USAA Federal Savings Bank
    Similarity Rank: 12586

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 85 $24,845,000 $292,294 $5,432 3.22%
    USDA 21 $6,595,000 $314,048 $8,834 2.78%
    VA 18 $6,820,000 $378,889 $11,220 2.74%
    FHA 17 $5,065,000 $297,941 $10,228 3.06%

    For 2020, True North Federal Credit Union's most frequently originated type of loan was Conventional, with 85 originations. Their 2nd most popular type was USDA, with 21 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 73 $23,345,000 $319,795 $8,811 3.09%
    Refi 52 $15,590,000 $299,808 $5,555 2.84%
    Cash Out Refi 13 $4,225,000 $325,000 $6,971 3.22%
    Other 2 $130,000 $65,000 $200 7.50%
    Home Improvement 1 $35,000 $35,000 $0 0.00%

    For 2020, True North Federal Credit Union's most frequently cited loan purpose was Home Purchase, with 73 originations. The 2nd most popular reason was Refi, with 52 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 115 $36,995,000 $321,696 $8,002 3.00%
    15 Year 19 $5,295,000 $278,684 $4,688 2.83%
    10 Year 2 $70,000 $35,000 $0 8.00%
    20 Year 2 $570,000 $285,000 $3,704 3.00%
    Other 2 $370,000 $185,000 $2,969 5.38%
    5 Year 1 $25,000 $25,000 $400 6.50%

    For 2020, True North Federal Credit Union's most frequently cited loan duration was 30 Year, with 115 originations. The 2nd most popular length was 15 Year, with 19 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $3k-4k 43 $13,245,000 $308,023
    $2k-3k 29 $6,555,000 $226,034
    $4k-5k 25 $9,545,000 $381,800
    $5k+ 16 $8,400,000 $525,000
    $<1k 15 $3,625,000 $241,667
    $1k-2k 13 $1,955,000 $150,385

    True North Federal Credit Union's average total fees were $8,002, while their most frequently occuring range of origination fees (closing costs) were in the $3k-4k bucket, with 43 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    2.5-3% 57 $20,945,000 $367,456
    3-4% 44 $12,130,000 $275,682
    <2.5% 30 $8,690,000 $289,667
    4-5% 5 $1,305,000 $261,000
    7-8% 2 $90,000 $45,000
    6-7% 1 $25,000 $25,000
    Over 8% 1 $105,000 $105,000

    During 2020, True North Federal Credit Union's average interest rate for loans was 3.00%, while their most frequently originated rate bucket for loans was 2.5-3%, with 57 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 92 $27,330,000 $297,065 $7,186 2.93%
    $400k-600k 22 $10,420,000 $473,636 $11,092 2.91%
    $100k-200k 16 $2,520,000 $157,500 $4,158 3.35%
    $100,000 or less 7 $405,000 $57,857 $1,463 5.23%
    $600k-1MM 4 $2,650,000 $662,500 $10,296 2.78%

    2020 saw True North Federal Credit Union place emphasis on $200k-400k loans with 92 originations, totaling $27,330,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 35 $12,085,000 $345,286 $8,692 2.83%
    $50k-75k 32 $8,160,000 $255,000 $6,753 3.00%
    $75k-100k 32 $9,310,000 $290,938 $7,303 3.10%
    $150k-250k 26 $9,940,000 $382,308 $7,232 2.81%
    $50k or less 13 $2,395,000 $184,231 $4,586 4.57%
    $250k+ 2 $1,190,000 $595,000 $8,325 3.06%

    True North Federal Credit Union lent most frequently to those with incomes in the $100k-150k range, with 35 originations. The second most popular income band? $50k-75k, with 32 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 41 $12,445,000 $303,537 $6,806 2.93%
    30-36% 36 $11,250,000 $312,500 $7,134 3.25%
    44% 9 $3,265,000 $362,778 $7,408 3.10%
    <20% 6 $1,900,000 $316,667 $4,620 2.94%
    49% 6 $1,680,000 $280,000 $8,036 2.77%
    48% 6 $2,170,000 $361,667 $10,636 3.02%
    41% 6 $1,370,000 $228,333 $6,531 3.96%
    38% 5 $1,255,000 $251,000 $6,338 2.95%
    42% 4 $950,000 $237,500 $3,624 2.54%
    43% 3 $685,000 $228,333 $5,975 2.83%
    46% 3 $1,085,000 $361,667 $11,047 3.21%
    39% 3 $1,025,000 $341,667 $11,785 3.17%
    50-60% 2 $610,000 $305,000 $8,424 2.94%
    45% 2 $720,000 $360,000 $11,896 2.69%
    47% 2 $520,000 $260,000 $7,405 3.06%
    36% 2 $540,000 $270,000 $5,505 3.31%
    40% 1 $295,000 $295,000 $5,808 2.63%
    37% 1 $355,000 $355,000 $10,347 2.25%

    True North Federal Credit Union lent most frequently to those with DTI ratios of 20-30%, with 41 originations. The next most common DTI ratio? 30-36%, with 36 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 104 $31,630,000 $304,135 $6,975 3.04%
    American Indian 13 $4,145,000 $318,846 $9,511 2.97%
    Not provided 12 $3,060,000 $255,000 $5,359 3.76%
    Asian 8 $2,940,000 $367,500 $7,791 2.83%
    Native Hawaiian or Islander 3 $1,055,000 $351,667 $9,942 2.79%
    Black 1 $495,000 $495,000 $17,554 2.88%

    Approval Rates

    Total approvals of all applications
    88.99%

    True North Federal Credit Union has an average approval rate.

    Pick Rate

    Approvals leading to origination
    63.83%

    True North Federal 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
    NA 141 $43,325,000 $307,270

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Single Family (1-4 Units):Manufactured 1 $225,000 $225,000
    Single Family (1-4 Units):Site-Built 140 $43,100,000 $307,857

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 8 $960,000 $120,000 $2,954 4.05%
    40-60% 13 $3,515,000 $270,385 $4,283 2.70%
    60-80% 38 $11,060,000 $291,053 $5,753 3.15%
    80-100% 71 $24,305,000 $342,324 $8,500 2.89%
    Over 100% 8 $3,390,000 $423,750 $15,154 2.91%
    Under 20% 3 $95,000 $31,667 $133 7.25%

    Complaints

    Bank Name Product Issue 2020 CPFB Complaints % of Total Issues
    Tri-Emerald Financial Group, Inc. Conventional home mortgage Closing on a mortgage 1 100.0%