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 markets by origination volume include: Juneau, Anchorage, Ketchikan, and Phoenix among others. We have data for 5 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% 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

    130

    Origination Dollar Volume (All Markets)

    $36,420,000

    Awards

    TRUE NORTH FEDERAL CREDIT UNION 30 Year Conventional Loans bronze TRUE NORTH FEDERAL CREDIT UNION 30 Year Conventional Loans gold
    Show all (2) 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) 103 $28,775,000 $279,369 $7,072 3.26%
    ANCHORAGE, AK (FHA|USDA|VA) 16 $4,170,000 $260,625 $5,691 2.58%
    Outside of Metro Areas 9 $2,685,000 $298,333 $7,578 2.82%
    Ketchikan, AK (FHA|USDA|VA) 1 $475,000 $475,000 $13,512 2.88%
    PHOENIX-MESA-CHANDLER, AZ (FHA|USDA|VA) 1 $315,000 $315,000 $9,553 3.13%
    True North Federal Credit Union's top markets include Juneau, Anchorage, Ketchikan, and Phoenix among others.

    Their top states include:
  • Alaska (FHA|USDA|VA)
  • Arizona (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: 60
    RESIDENTIAL MORTGAGE, LLC
    Similarity Rank: 468
    Alaska USA Mortgage Company LLC
    Similarity Rank: 558
    Wyndham Capital Mortgage, Inc.
    Similarity Rank: 1238
    Alaska USA Federal Credit Union
    Similarity Rank: 2214
    BETTER MORTGAGE CORPORATION
    Similarity Rank: 2526
    KeyBank
    Similarity Rank: 3816
    Mortgage Research Center, LLC
    Similarity Rank: 4615
    UNITED WHOLESALE MORTGAGE, LLC
    Similarity Rank: 8082
    CORNERSTONE HOME LENDING, INC.
    Similarity Rank: 10672

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 101 $26,465,000 $262,030 $6,048 3.35%
    VA 10 $4,170,000 $417,000 $9,926 2.41%
    USDA 10 $2,910,000 $291,000 $8,762 2.41%
    FHA 9 $2,875,000 $319,444 $11,083 2.53%

    For 2021, True North Federal Credit Union's most frequently originated type of loan was Conventional, with 101 originations. Their 2nd most popular type was VA, with 10 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 70 $19,270,000 $275,286 $7,803 3.23%
    Refi 53 $15,575,000 $293,868 $6,348 2.82%
    Cash Out Refi 4 $1,350,000 $337,500 $5,941 2.53%
    Home Improvement 2 $200,000 $100,000 $2,864 8.38%
    Other 1 $25,000 $25,000 $250 6.50%

    For 2021, True North Federal Credit Union's most frequently cited loan purpose was Home Purchase, with 70 originations. The 2nd most popular reason was Refi, with 53 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 93 $30,145,000 $324,140 $7,572 2.75%
    15 Year 15 $2,775,000 $185,000 $4,228 3.20%
    Other 10 $660,000 $66,000 $0 6.28%
    20 Year 7 $2,355,000 $336,429 $6,768 2.77%
    10 Year 4 $460,000 $115,000 $3,901 4.19%
    5 Year 1 $25,000 $25,000 $250 6.50%

    For 2021, True North Federal Credit Union's most frequently cited loan duration was 30 Year, with 93 originations. The 2nd most popular length was 15 Year, with 15 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $3k-4k 31 $9,405,000 $303,387
    $2k-3k 26 $5,620,000 $216,154
    $4k-5k 23 $9,045,000 $393,261
    $1k-2k 19 $2,045,000 $107,632
    $5k+ 18 $8,760,000 $486,667
    $<1k 12 $1,520,000 $126,667

    True North Federal Credit Union's average total fees were $7,572, while their most frequently occuring range of origination fees (closing costs) were in the $3k-4k bucket, with 31 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    2.5-3% 63 $20,015,000 $317,698
    <2.5% 40 $11,580,000 $289,500
    3-4% 11 $3,755,000 $341,364
    6-7% 8 $480,000 $60,000
    5-6% 5 $285,000 $57,000
    Over 8% 2 $200,000 $100,000
    4-5% 1 $105,000 $105,000

    During 2021, True North Federal Credit Union's average interest rate for loans was 2.75%, while their most frequently originated rate bucket for loans was 2.5-3%, with 63 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 67 $19,925,000 $297,388 $6,960 2.69%
    $400k-600k 23 $10,815,000 $470,217 $10,449 2.77%
    $100k-200k 21 $3,265,000 $155,476 $4,027 2.93%
    $100,000 or less 17 $1,115,000 $65,588 $1,926 5.72%
    $600k-1MM 2 $1,300,000 $650,000 $9,947 3.13%

    2021 saw True North Federal Credit Union place emphasis on $200k-400k loans with 67 originations, totaling $19,925,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 32 $9,750,000 $304,688 $7,086 3.11%
    $50k-75k 32 $7,430,000 $232,188 $6,512 3.08%
    $75k-100k 32 $8,700,000 $271,875 $6,896 2.89%
    $150k-250k 21 $7,315,000 $348,333 $8,713 3.72%
    $50k or less 7 $1,585,000 $226,429 $5,287 2.80%
    $250k+ 4 $960,000 $240,000 $5,686 3.88%

    True North Federal Credit Union lent most frequently to those with incomes in the $100k-150k range, with 32 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% 36 $10,100,000 $280,556 $5,869 3.19%
    30-36% 25 $6,715,000 $268,600 $8,303 3.74%
    <20% 9 $1,635,000 $181,667 $5,355 3.17%
    38% 8 $2,760,000 $345,000 $8,011 2.97%
    39% 6 $1,150,000 $191,667 $4,830 3.73%
    49% 5 $1,445,000 $289,000 $8,262 2.65%
    36% 5 $1,195,000 $239,000 $6,685 3.35%
    42% 5 $1,405,000 $281,000 $6,618 3.05%
    45% 5 $1,455,000 $291,000 $6,385 2.43%
    37% 4 $990,000 $247,500 $5,583 2.59%
    43% 4 $740,000 $185,000 $4,296 2.66%
    40% 4 $1,370,000 $342,500 $9,099 2.63%
    47% 3 $1,105,000 $368,333 $12,137 2.75%
    46% 3 $865,000 $288,333 $6,185 3.13%
    41% 2 $900,000 $450,000 $10,285 2.50%
    44% 2 $1,060,000 $530,000 $18,063 2.69%

    True North Federal Credit Union lent most frequently to those with DTI ratios of 20-30%, with 36 originations. The next most common DTI ratio? 30-36%, with 25 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 89 $26,055,000 $292,753 $7,065 3.07%
    Not provided 15 $4,115,000 $274,333 $6,791 2.87%
    American Indian 12 $3,140,000 $261,667 $6,823 3.56%
    Asian 11 $2,445,000 $222,273 $6,885 3.88%
    Native Hawaiian or Islander 2 $580,000 $290,000 $8,954 2.44%
    Black 1 $85,000 $85,000 $3,002 2.38%

    Approval Rates

    Total approvals of all applications
    70.25%

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

    Pick Rate

    Approvals leading to origination
    23.85%

    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
    1000.0 1 $35,000 $35,000
    1010.0 1 $45,000 $45,000
    1065.0 1 $45,000 $45,000
    1095.0 1 $65,000 $65,000
    1440.0 1 $85,000 $85,000
    1477.5 1 $95,000 $95,000
    1552.0 1 $95,000 $95,000
    2588.45 1 $95,000 $95,000
    878.0 1 $55,000 $55,000
    888.0 1 $25,000 $25,000
    900.0 1 $35,000 $35,000
    NA 119 $35,745,000 $300,378

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    130 $36,420,000 $280,154

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 6 $720,000 $120,000 $2,911 4.50%
    40-60% 14 $2,750,000 $196,429 $4,626 3.32%
    60-80% 42 $11,180,000 $266,190 $6,211 3.35%
    80-100% 65 $21,065,000 $324,077 $8,369 2.82%
    Under 20% 1 $25,000 $25,000 $250 6.50%

    Complaints

    Bank Name Product Issue 2021 CPFB Complaints % of Total Issues
    Tri-Emerald Financial Group, Inc. Conventional home mortgage Applying for a mortgage or refinancing an existing mortgage 1 50.0%
    Tri-Emerald Financial Group, Inc. Conventional home mortgage Closing on a mortgage 1 50.0%