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 Refi, Cash Out Refi, and Home Purchase loans. Tech Credit Union has a high proportion of conventional loans. Their top markets by origination volume include: Chicago, Michigan City, Las Vegas, Lafayette, and Houston among others. We have data for 7 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

    372

    Origination Dollar Volume (All Markets)

    $45,790,000

    Awards

    TECH Credit Union 30 Year Conventional Loans bronze TECH Credit Union 30 Year Conventional Loans bronze TECH Credit Union 30 Year Conventional Loans silver
    Show all (3) 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) 316 $36,940,000 $116,899 $1,889 3.69%
    Outside of Metro Areas 33 $6,005,000 $181,970 $2,624 3.17%
    MICHIGAN CITY-LA PORTE, IN (FHA|USDA|VA) 19 $2,175,000 $114,474 $2,293 3.30%
    LAS VEGAS-HENDERSON-PARADISE, NV (FHA|USDA|VA) 1 $325,000 $325,000 $2,704 3.70%
    LAFAYETTE-WEST LAFAYETTE, IN (FHA|USDA|VA) 1 $205,000 $205,000 $2,694 3.00%
    HOUSTON-THE WOODLANDS-SUGAR LAND, TX (FHA|USDA|VA) 1 $85,000 $85,000 $2,963 2.50%
    INDIANAPOLIS-CARMEL-ANDERSON, IN (FHA|USDA|VA) 1 $55,000 $55,000 $2,232 3.00%
    Tech Credit Union's top markets include Chicago, Michigan City, Las Vegas, Lafayette, and Houston among others.

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

    Glenview State Bank
    Similarity Rank: 312
    Liberty Bank for Savings
    Similarity Rank: 312
    CROWN MORTGAGE COMPANY
    Similarity Rank: 627
    AMERITRUST MORTGAGE CORPORATION
    Similarity Rank: 648
    The Equitable Bank, S.S.B.
    Similarity Rank: 820
    RUHL MORTGAGE, LLC
    Similarity Rank: 988
    United Community Bank
    Similarity Rank: 1360
    NEW FED MORTGAGE, CORP.
    Similarity Rank: 1610
    DuPage Credit Union
    Similarity Rank: 1824
    LAKE MORTGAGE COMPANY INC
    Similarity Rank: 1841

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 372 $45,790,000 $123,091 $1,983 3.62%

    For 2020, Tech Credit Union's most frequently originated type of loan was Conventional, with 372 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Refi 107 $15,865,000 $148,271 $2,323 3.27%
    Cash Out Refi 92 $15,210,000 $165,326 $2,533 3.13%
    Home Purchase 71 $10,615,000 $149,507 $2,748 3.25%
    Home Improvement 70 $2,640,000 $37,714 $602 4.67%
    Other 32 $1,460,000 $45,625 $591 4.69%

    For 2020, Tech Credit Union's most frequently cited loan purpose was Refi, with 107 originations. The 2nd most popular reason was Cash Out Refi, with 92 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 132 $22,940,000 $173,788 $2,734 3.29%
    15 Year 68 $9,810,000 $144,265 $2,531 2.82%
    Other 64 $2,350,000 $36,719 $622 4.53%
    10 Year 53 $3,345,000 $63,113 $1,024 4.57%
    20 Year 36 $6,360,000 $176,667 $2,673 2.96%
    5 Year 18 $530,000 $29,444 $595 4.35%
    30+ year 1 $455,000 $455,000 $3,732 2.88%

    For 2020, Tech Credit Union's most frequently cited loan duration was 30 Year, with 132 originations. The 2nd most popular length was 15 Year, with 68 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 149 $24,515,000 $164,530
    $1k-2k 96 $15,980,000 $166,458
    $2k-3k 1 $205,000 $205,000

    Tech Credit Union's average total fees were $2,734, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 149 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    4-5% 123 $5,985,000 $48,659
    3-4% 107 $17,135,000 $160,140
    2.5-3% 100 $17,640,000 $176,400
    <2.5% 35 $4,765,000 $136,143
    5-6% 5 $215,000 $43,000
    6-7% 2 $50,000 $25,000

    During 2020, Tech Credit Union's average interest rate for loans was 3.29%, while their most frequently originated rate bucket for loans was 4-5%, with 123 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 178 $8,630,000 $48,483 $1,234 4.17%
    $100k-200k 126 $18,490,000 $146,746 $2,573 3.13%
    $200k-400k 60 $15,010,000 $250,167 $2,846 3.07%
    $400k-600k 8 $3,660,000 $457,500 $2,886 3.12%

    2020 saw Tech Credit Union place emphasis on $100,000 or less loans with 178 originations, totaling $8,630,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 102 $9,760,000 $95,686 $1,869 3.62%
    $100k-150k 90 $11,380,000 $126,444 $1,793 3.78%
    $75k-100k 65 $8,295,000 $127,615 $2,254 3.49%
    $50k or less 61 $5,575,000 $91,393 $1,952 3.64%
    $150k-250k 51 $10,395,000 $203,824 $2,281 3.43%
    $250k+ 3 $385,000 $128,333 $1,266 4.24%

    Tech Credit Union lent most frequently to those with incomes in the $50k-75k range, with 102 originations. The second most popular income band? $100k-150k, with 90 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 111 $15,275,000 $137,613 $2,091 3.45%
    <20% 73 $7,295,000 $99,932 $2,023 3.49%
    30-36% 64 $7,750,000 $121,094 $2,085 3.67%
    38% 16 $1,970,000 $123,125 $2,074 3.73%
    42% 13 $1,345,000 $103,462 $1,785 3.76%
    39% 11 $1,835,000 $166,818 $2,396 3.56%
    36% 11 $1,175,000 $106,818 $1,896 4.05%
    48% 10 $1,040,000 $104,000 $1,570 3.95%
    41% 10 $1,190,000 $119,000 $2,035 3.64%
    40% 9 $885,000 $98,333 $1,434 4.00%
    44% 8 $1,220,000 $152,500 $1,643 3.80%
    49% 7 $765,000 $109,286 $1,327 4.38%
    37% 6 $1,070,000 $178,333 $2,346 3.39%
    43% 6 $1,640,000 $273,333 $2,621 3.20%
    45% 6 $400,000 $66,667 $1,234 3.81%
    46% 6 $800,000 $133,333 $1,558 3.70%
    47% 3 $75,000 $25,000 $587 4.66%
    50-60% 1 $25,000 $25,000 $542 4.99%
    >60% 1 $35,000 $35,000 $567 4.49%

    Tech Credit Union lent most frequently to those with DTI ratios of 20-30%, with 111 originations. The next most common DTI ratio? <20%, with 73 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 296 $39,540,000 $133,581 $2,114 3.50%
    Black 35 $3,485,000 $99,571 $1,925 3.75%
    Not provided 38 $2,190,000 $57,632 $978 4.52%
    Asian 3 $575,000 $191,667 $2,466 2.58%

    Approval Rates

    Total approvals of all applications
    96.12%

    Tech Credit Union has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.

    Pick Rate

    Approvals leading to origination
    94.35%

    Tech Credit Union has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 372 $45,790,000 $123,091

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Single Family (1-4 Units):Manufactured 1 $115,000 $115,000
    Single Family (1-4 Units):Site-Built 371 $45,675,000 $123,113

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 53 $3,905,000 $73,679 $1,232 4.08%
    40-60% 43 $5,895,000 $137,093 $2,436 3.03%
    60-80% 120 $21,850,000 $182,083 $2,637 3.21%
    80-100% 75 $11,765,000 $156,867 $2,588 3.29%
    Over 100% 2 $170,000 $85,000 $1,570 3.75%
    Under 20% 79 $2,205,000 $27,911 $684 4.56%