Tech Credit Union Mortgage Rates, Fees & Info

Crown Point, IN

LEI: 549300QYV7W4MRNEFK89

Tax ID: 35-0885375

5 stars - Updated: 4/5/25 - out of 5 stars, based on 25 reviews

Latest/2024 | 2023 Data | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data

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Mortgage Data

Review & Overview

Tech Credit Union is a smaller credit union specializing in Home Improvement and Home Purchase loans. Tech Credit Union has a high proportion of conventional loans. Their top markets by origination volume include: Chicago, Michigan City, South Bend, Kankakee, and Phoenix among others. We have data for 16 markets. (Some data included below & more in-depth data is available with an active subscription.)

Tech Credit Union has an average approval rate when compared to the average across all lenders. They have an average pick rate when compared to similar lenders. Tech 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.

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
Home Equity Line of Credit (HELOC) 8.14% 4/5/25
30 Year Conventional Purchase 7.11% 4/5/25
30 Year Conventional Refi 6.72% 4/5/25
30 Year Cash-out Refi 7.34% 4/5/25
15 Year Conventional Purchase 6.90% 4/5/25
15 Year Conventional Refi 7.33% 4/5/25
15 Year Cash-out Refi 7.33% 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.

Tech Credit Union Mortgage Calculator






Your Estimates

Estimated Loan Payment: Update the calculator values and click calculate payment!

This is not an official calculator from Tech 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

610

Origination Dollar Volume (All Markets)

$63,300,000

Awards

TECH Credit Union 30 Year Conventional Loans gold TECH Credit Union 30 Year Conventional Loans bronze
Show all (2) awards

Relative Rate

Tech Credit Union's average 30 year fixed mortgage rate was 6.86%.

The 2024 average 30 year fixed rate mortgage across all markets and lenders was 6.55%.

This yields a difference of 0.31%.

Relative Fees (Closing Costs)

Tech Credit Union's average total fees/closing costs for a 30 year fixed rate mortgage were $3,956.

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
Chicago-Naperville-Elgin, IL-IN-WI (FHA|USDA|VA) 547 $54,955,000 $100,466 $3,972 7.43%
MICHIGAN CITY-LA PORTE, IN (FHA|USDA|VA) 33 $4,335,000 $131,364 $3,833 7.43%
Outside of Metro Areas 9 $995,000 $110,556 $3,660 7.09%
SOUTH BEND-MISHAWAKA, IN-MI (FHA|USDA|VA) 5 $515,000 $103,000 $3,099 7.40%
KANKAKEE, IL (FHA|USDA|VA) 3 $435,000 $145,000 $4,100 7.37%
PHOENIX-MESA-CHANDLER, AZ (FHA|USDA|VA) 1 $305,000 $305,000 $5,303 6.99%
KNOXVILLE, TN (FHA|USDA|VA) 1 $295,000 $295,000 $4,349 7.25%
Warsaw, IN (FHA|USDA|VA) 2 $270,000 $135,000 $3,472 7.19%
MYRTLE BEACH-CONWAY-NORTH MYRTLE BEACH, SC-NC (FHA|USDA|VA) 1 $265,000 $265,000 $4,463 7.13%
NILES, MI (FHA|USDA|VA) 1 $215,000 $215,000 $3,936 7.13%
Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) 1 $155,000 $155,000 $5,035 6.99%
Plymouth, IN (FHA|USDA|VA) 1 $135,000 $135,000 $3,460 7.63%
MONTGOMERY, AL (FHA|USDA|VA) 1 $125,000 $125,000 $3,643 6.50%
Washington-Arlington-Alexandria, DC-VA-MD-WV (FHA|USDA|VA) 1 $125,000 $125,000 $5,919 6.38%
LAFAYETTE-WEST LAFAYETTE, IN (FHA|USDA|VA) 2 $120,000 $60,000 $2,652 6.81%
ELKHART-GOSHEN, IN (FHA|USDA|VA) 1 $55,000 $55,000 $0 7.24%
Tech Credit Union's top markets include Chicago, Michigan City, South Bend, Kankakee, and Phoenix among others.

Their top states include:
  • Indiana (FHA|USDA|VA)
  • Illinois (FHA|USDA|VA)
  • Tennessee (FHA|USDA|VA)
  • Arizona (FHA|USDA|VA)
  • South Carolina (FHA|USDA|VA)
  • Similar Lenders

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

    First Savings Bank of Hegewisch
    Similarity Rank: 36
    Liberty Bank for Savings
    Similarity Rank: 79
    FINANCIAL PLUS
    Similarity Rank: 288
    INSPIRE HOME LOANS INC.
    Similarity Rank: 510
    DuPage Credit Union
    Similarity Rank: 560
    First Financial Credit Union
    Similarity Rank: 786
    EDUCATORS CREDIT UNION
    Similarity Rank: 840
    Grundy Bank
    Similarity Rank: 1098
    WISCONSIN MORTGAGE CORPORATION
    Similarity Rank: 1116
    CROWN MORTGAGE COMPANY
    Similarity Rank: 1266

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 472 $51,380,000 $108,856 $3,956 7.06%
    HELOC 138 $11,920,000 $86,377 n/a 8.63%

    For 2024, Tech Credit Union's most frequently originated type of loan was Conventional, with 472 originations. Their 2nd most popular type was HELOC, with 138 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Improvement 216 $13,570,000 $62,824 $0 7.72%
    Home Purchase 141 $28,985,000 $205,567 $4,000 6.94%
    Other 128 $7,820,000 $61,094 $0 7.44%
    Refi 90 $7,350,000 $81,667 $3,235 7.56%
    Cash Out Refi 35 $5,575,000 $159,286 $3,879 7.04%

    For 2024, Tech Credit Union's most frequently cited loan purpose was Home Improvement, with 216 originations. The 2nd most popular reason was Home Purchase, with 141 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    15 Year 167 $11,805,000 $70,689 $3,814 7.51%
    30 Year 158 $32,250,000 $204,114 $3,956 6.86%
    Other 151 $12,485,000 $82,682 $0 8.50%
    10 Year 89 $4,635,000 $52,079 $0 6.93%
    5 Year 40 $1,370,000 $34,250 $0 6.37%
    3 Year 3 $75,000 $25,000 $0 6.24%
    30+ year 1 $405,000 $405,000 $5,587 6.88%
    20 Year 1 $275,000 $275,000 $3,104 5.99%

    For 2024, Tech Credit Union's most frequently cited loan duration was 15 Year, with 167 originations. The 2nd most popular length was 30 Year, with 158 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $1k-2k 139 $28,035,000 $201,691
    $2k-3k 10 $1,890,000 $189,000
    $3k-4k 9 $1,705,000 $189,444
    $<1k 4 $780,000 $195,000
    $5k+ 2 $1,090,000 $545,000
    $4k-5k 1 $305,000 $305,000

    Tech Credit Union's average total fees were $3,956, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 139 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    7-8% 239 $22,045,000 $92,238
    6-7% 232 $28,310,000 $122,026
    Over 8% 128 $10,800,000 $84,375
    5-6% 10 $2,060,000 $206,000
    3-4% 1 $85,000 $85,000

    During 2024, Tech Credit Union's average interest rate for loans was 6.86%, while their most frequently originated rate bucket for loans was 7-8%, with 239 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 391 $20,455,000 $52,315 $3,659 7.49%
    $100k-200k 134 $18,420,000 $137,463 $3,784 7.48%
    $200k-400k 75 $19,425,000 $259,000 $3,930 7.04%
    $400k-600k 7 $3,095,000 $442,143 $6,173 6.71%
    $600k-1MM 3 $1,905,000 $635,000 $5,967 6.67%

    2024 saw Tech Credit Union place emphasis on $100,000 or less loans with 391 originations, totaling $20,455,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 160 $14,840,000 $92,750 $4,080 7.52%
    $75k-100k 126 $14,150,000 $112,302 $3,728 7.42%
    $150k-250k 122 $15,210,000 $124,672 $4,820 7.53%
    $50k-75k 122 $11,070,000 $90,738 $3,575 7.36%
    $50k or less 61 $3,785,000 $62,049 $3,668 6.97%
    $250k+ 19 $4,245,000 $223,421 $4,694 7.50%

    Tech Credit Union lent most frequently to those with incomes in the $100k-150k range, with 160 originations. The second most popular income band? $75k-100k, with 126 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 186 $19,000,000 $102,151 $4,096 7.29%
    30-36% 131 $14,445,000 $110,267 $3,884 7.43%
    <20% 60 $4,770,000 $79,500 $3,746 7.29%
    38% 25 $3,325,000 $133,000 $4,794 7.69%
    37% 22 $2,410,000 $109,545 $3,564 7.42%
    36% 20 $2,080,000 $104,000 $4,102 7.48%
    49% 19 $1,705,000 $89,737 $5,265 8.23%
    43% 18 $1,630,000 $90,556 $4,598 7.40%
    40% 17 $1,765,000 $103,824 $3,453 7.65%
    41% 16 $1,400,000 $87,500 $3,706 7.46%
    44% 15 $1,475,000 $98,333 $3,964 7.42%
    47% 14 $1,660,000 $118,571 $3,636 7.23%
    46% 14 $1,640,000 $117,143 $3,513 7.26%
    42% 13 $1,385,000 $106,538 $3,906 7.80%
    48% 13 $1,005,000 $77,308 $3,314 7.23%
    39% 12 $1,760,000 $146,667 $3,798 7.74%
    45% 11 $1,255,000 $114,091 $4,207 7.28%
    50-60% 3 $295,000 $98,333 $0 8.16%
    >60% 1 $295,000 $295,000 $3,468 7.13%

    Tech Credit Union lent most frequently to those with DTI ratios of 20-30%, with 186 originations. The next most common DTI ratio? 30-36%, with 131 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 520 $55,790,000 $107,288 $3,897 7.42%
    Black 68 $5,120,000 $75,294 $4,379 7.37%
    Not provided 16 $1,960,000 $122,500 $4,173 7.40%
    Asian 6 $430,000 $71,667 $4,044 7.75%

    Approval Rates

    Total approvals of all applications
    77.45%

    Tech Credit Union has a below average approval rate.

    Pick Rate

    Approvals leading to origination
    92.62%

    Tech Credit Union has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 610 $63,300,000 $103,770

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    610 $63,300,000 $103,770

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 173 $15,365,000 $88,815 $3,680 7.80%
    40-60% 42 $5,750,000 $136,905 $3,459 7.51%
    60-80% 60 $10,720,000 $178,667 $4,338 7.11%
    80-100% 90 $20,680,000 $229,778 $3,868 6.94%
    Under 20% 245 $10,785,000 $44,020 $3,404 7.38%