Tech Credit Union Mortgage Rates, Fees & Info

Crown Point, IN

LEI: 549300QYV7W4MRNEFK89

Tax ID: 35-0885375

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
  • 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

    Tech Credit Union is a smaller credit union specializing in Home Improvement and Cash Out Refi loans. Tech Credit Union has a high proportion of conventional loans. Their top markets by origination volume include: Chicago, Michigan City, and South Bend among others. We have data for 4 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Tech Credit Union has an above average approval rate when compared to the average across all lenders. They have an above 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
    30 Year Conventional Purchase 6.89% 4/28/24
    30 Year Conventional Refi 6.67% 4/28/24
    30 Year Cash-out Refi 6.93% 4/28/24
    15 Year Conventional Purchase 6.03% 4/28/24
    15 Year Conventional Refi 5.91% 4/28/24
    15 Year Cash-out Refi 5.91% 4/28/24
    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.

    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

    211

    Origination Dollar Volume (All Markets)

    $14,815,000

    Awards

    TECH Credit Union 30 Year Conventional Loans silver TECH Credit Union 30 Year Conventional Loans bronze
    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
    Chicago-Naperville-Elgin, IL-IN-WI (FHA|USDA|VA) 198 $13,360,000 $67,475 $3,726 4.74%
    Outside of Metro Areas 4 $820,000 $205,000 $2,264 4.12%
    MICHIGAN CITY-LA PORTE, IN (FHA|USDA|VA) 8 $430,000 $53,750 $815 4.85%
    SOUTH BEND-MISHAWAKA, IN-MI (FHA|USDA|VA) 1 $205,000 $205,000 $2,792 5.05%
    Tech Credit Union's top markets include Chicago, Michigan City, and South Bend among others.

    Their top states include:
  • Indiana (FHA|USDA|VA)
  • Illinois (FHA|USDA|VA)
  • Michigan (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.

    Liberty Bank for Savings
    Similarity Rank: 85
    EDUCATORS CREDIT UNION
    Similarity Rank: 352
    UNITED
    Similarity Rank: 498
    Southern Lkaes Credit Union
    Similarity Rank: 513
    AMERITRUST MORTGAGE CORPORATION
    Similarity Rank: 618
    TECH Credit Union
    Similarity Rank: 856
    Community State Bank
    Similarity Rank: 888
    The Equitable Bank, S.S.B.
    Similarity Rank: 950
    DuPage Credit Union
    Similarity Rank: 1428
    American Financial Funding Corp.
    Similarity Rank: 1565

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 211 $14,815,000 $70,213 $3,583 4.74%

    For 2019, Tech Credit Union's most frequently originated type of loan was Conventional, with 211 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Improvement 81 $2,985,000 $36,852 $576 4.85%
    Other 50 $2,240,000 $44,800 $583 5.01%
    Cash Out Refi 37 $4,695,000 $126,892 $9,395 4.42%
    Refi 24 $2,050,000 $85,417 $11,811 4.67%
    Home Purchase 19 $2,845,000 $149,737 $2,592 4.26%

    For 2019, Tech Credit Union's most frequently cited loan purpose was Home Improvement, with 81 originations. The 2nd most popular reason was Other, with 50 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 83 $3,225,000 $38,855 $580 4.68%
    10 Year 71 $4,525,000 $63,732 $4,351 5.14%
    30 Year 33 $5,085,000 $154,091 $2,705 4.31%
    5 Year 15 $405,000 $27,000 $594 4.64%
    15 Year 7 $1,145,000 $163,571 $42,194 3.74%
    20 Year 2 $430,000 $215,000 $2,731 4.25%

    For 2019, Tech Credit Union's most frequently cited loan duration was Other, with 83 originations. The 2nd most popular length was 10 Year, with 71 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 42 $6,970,000 $165,952
    $1k-2k 4 $580,000 $145,000
    $2k-3k 1 $75,000 $75,000

    Tech Credit Union's average total fees were $2,705, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 42 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    4-5% 147 $8,355,000 $56,837
    5-6% 33 $1,955,000 $59,242
    3-4% 25 $4,275,000 $171,000
    6-7% 6 $230,000 $38,333

    During 2019, Tech Credit Union's average interest rate for loans was 4.31%, while their most frequently originated rate bucket for loans was 4-5%, with 147 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 161 $5,935,000 $36,863 $688 4.87%
    $100k-200k 34 $4,900,000 $144,118 $17,857 4.35%
    $200k-400k 16 $3,980,000 $248,750 $2,389 4.18%

    2019 saw Tech Credit Union place emphasis on $100,000 or less loans with 161 originations, totaling $5,935,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 53 $3,135,000 $59,151 $1,050 4.85%
    $100k-150k 52 $3,770,000 $72,500 $1,098 4.70%
    $75k-100k 42 $2,570,000 $61,190 $7,499 4.78%
    $50k or less 40 $1,930,000 $48,250 $892 4.72%
    $150k-250k 16 $1,870,000 $116,875 $17,169 4.64%
    $250k+ 8 $1,540,000 $192,500 $2,254 4.29%

    Tech Credit Union lent most frequently to those with incomes in the $50k-75k range, with 53 originations. The second most popular income band? $100k-150k, with 52 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 53 $3,735,000 $70,472 $5,942 4.74%
    30-36% 33 $2,275,000 $68,939 $1,049 4.78%
    <20% 23 $1,665,000 $72,391 $1,216 4.48%
    39% 11 $995,000 $90,455 $26,690 4.53%
    36% 8 $550,000 $68,750 $1,370 4.61%
    45% 8 $900,000 $112,500 $1,383 4.56%
    38% 8 $280,000 $35,000 $962 5.01%
    49% 8 $710,000 $88,750 $952 4.82%
    48% 8 $840,000 $105,000 $887 4.72%
    42% 7 $665,000 $95,000 $636 4.88%
    37% 7 $265,000 $37,857 $572 5.10%
    44% 7 $575,000 $82,143 $1,219 4.65%
    47% 6 $220,000 $36,667 $578 4.78%
    43% 6 $510,000 $85,000 $1,231 4.86%
    41% 5 $185,000 $37,000 $554 4.64%
    40% 4 $160,000 $40,000 $573 5.30%
    46% 3 $75,000 $25,000 $574 4.57%
    50-60% 3 $145,000 $48,333 $1,409 4.94%
    >60% 3 $65,000 $21,667 $576 4.82%

    Tech Credit Union lent most frequently to those with DTI ratios of 20-30%, with 53 originations. The next most common DTI ratio? 30-36%, with 33 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 148 $11,860,000 $80,135 $4,808 4.72%
    Not provided 47 $2,215,000 $47,128 $582 4.84%
    Black 13 $485,000 $37,308 $887 4.74%
    Asian 2 $240,000 $120,000 $2,571 3.93%
    Not applicable 1 $15,000 $15,000 $542 4.49%

    Approval Rates

    Total approvals of all applications
    92.15%

    Tech Credit Union has an average approval rate.

    Pick Rate

    Approvals leading to origination
    94.31%

    Tech Credit Union has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 211 $14,815,000 $70,213

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Single Family (1-4 Units):Manufactured 5 $335,000 $67,000
    Single Family (1-4 Units):Site-Built 206 $14,480,000 $70,291

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 48 $2,910,000 $60,625 $672 4.96%
    40-60% 22 $2,180,000 $99,091 $12,826 4.69%
    60-80% 29 $4,485,000 $154,655 $11,838 4.36%
    80-100% 15 $2,425,000 $161,667 $2,858 4.21%
    Under 20% 97 $2,815,000 $29,021 $572 4.83%