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 Purchase loans. Tech Credit Union has a high proportion of conventional loans. Their top markets by origination volume include: Chicago, Michigan City, South Bend, Indianapolis, and Orlando among others. We have data for 9 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 a below 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 relatively high 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% 11/21/24
    30 Year Conventional Refi 6.67% 11/21/24
    30 Year Cash-out Refi 6.93% 11/21/24
    15 Year Conventional Purchase 6.03% 11/21/24
    15 Year Conventional Refi 5.91% 11/21/24
    15 Year Cash-out Refi 5.91% 11/21/24
    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.

    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

    599

    Origination Dollar Volume (All Markets)

    $73,275,000

    Awards

    TECH Credit Union 30 Year Conventional Loans gold
    Show all (1) 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) 538 $64,380,000 $119,665 $3,363 4.76%
    MICHIGAN CITY-LA PORTE, IN (FHA|USDA|VA) 41 $5,155,000 $125,732 $2,994 4.92%
    SOUTH BEND-MISHAWAKA, IN-MI (FHA|USDA|VA) 4 $1,250,000 $312,500 $3,133 5.34%
    INDIANAPOLIS-CARMEL-ANDERSON, IN (FHA|USDA|VA) 5 $825,000 $165,000 $2,746 4.85%
    Outside of Metro Areas 6 $620,000 $103,333 $3,122 5.35%
    ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) 2 $520,000 $260,000 $4,324 5.06%
    Logansport, IN (FHA|USDA|VA) 1 $275,000 $275,000 $2,559 4.00%
    Helena-West Helena, AR (FHA|USDA|VA) 1 $125,000 $125,000 $4,741 6.38%
    COLUMBUS, IN (FHA|USDA|VA) 1 $125,000 $125,000 $2,779 5.50%
    Tech Credit Union's top markets include Chicago, Michigan City, South Bend, Indianapolis, and Orlando among others.

    Their top states include:
  • Indiana (FHA|USDA|VA)
  • Illinois (FHA|USDA|VA)
  • Michigan (FHA|USDA|VA)
  • Florida (FHA|USDA|VA)
  • Arkansas (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: 64
    Liberty Bank for Savings
    Similarity Rank: 116
    FINANCIAL PLUS
    Similarity Rank: 198
    DuPage Credit Union
    Similarity Rank: 579
    EDUCATORS CREDIT UNION
    Similarity Rank: 850
    Community State Bank
    Similarity Rank: 930
    Bank of Pontiac
    Similarity Rank: 1050
    LAKE MORTGAGE COMPANY INC
    Similarity Rank: 1120
    Illinois Community Credit Unio
    Similarity Rank: 1170
    PARTNERSHIP FINANCIAL
    Similarity Rank: 1505

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 599 $73,275,000 $122,329 $3,311 4.79%

    For 2022, Tech Credit Union's most frequently originated type of loan was Conventional, with 599 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 212 $43,200,000 $203,774 $3,396 5.36%
    Home Improvement 168 $7,220,000 $42,976 $2,958 4.34%
    Cash Out Refi 84 $14,540,000 $173,095 $3,136 4.53%
    Other 76 $3,750,000 $49,342 $0 4.68%
    Refi 59 $4,565,000 $77,373 $2,807 4.54%

    For 2022, Tech Credit Union's most frequently cited loan purpose was Home Purchase, with 212 originations. The 2nd most popular reason was Home Improvement, with 168 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 253 $53,225,000 $210,375 $3,352 5.30%
    15 Year 190 $14,070,000 $74,053 $3,175 4.65%
    10 Year 91 $3,815,000 $41,923 $2,540 4.11%
    5 Year 41 $1,035,000 $25,244 $0 4.09%
    Other 18 $710,000 $39,444 $0 4.17%
    20 Year 4 $380,000 $95,000 $2,829 4.44%
    3 Year 2 $40,000 $20,000 $0 3.87%

    For 2022, Tech Credit Union's most frequently cited loan duration was 30 Year, with 253 originations. The 2nd most popular length was 15 Year, with 190 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $1k-2k 285 $56,545,000 $198,404
    $2k-3k 4 $600,000 $150,000
    $3k-4k 2 $330,000 $165,000
    $4k-5k 2 $420,000 $210,000
    $5k+ 1 $235,000 $235,000

    Tech Credit Union's average total fees were $3,352, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 285 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    3-4% 193 $18,065,000 $93,601
    4-5% 165 $15,745,000 $95,424
    5-6% 148 $23,480,000 $158,649
    6-7% 60 $10,190,000 $169,833
    7-8% 19 $4,025,000 $211,842
    2.5-3% 10 $1,410,000 $141,000
    <2.5% 4 $360,000 $90,000

    During 2022, Tech Credit Union's average interest rate for loans was 5.30%, while their most frequently originated rate bucket for loans was 3-4%, with 193 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 326 $15,130,000 $46,411 $3,110 4.53%
    $100k-200k 158 $22,520,000 $142,532 $3,257 4.96%
    $200k-400k 98 $26,290,000 $268,265 $3,404 5.33%
    $400k-600k 13 $6,325,000 $486,538 $3,587 4.78%
    $600k-1MM 4 $3,010,000 $752,500 $4,276 5.41%

    2022 saw Tech Credit Union place emphasis on $100,000 or less loans with 326 originations, totaling $15,130,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 146 $18,340,000 $125,616 $3,305 4.58%
    $50k-75k 136 $15,450,000 $113,603 $3,137 4.89%
    $75k-100k 126 $13,820,000 $109,683 $3,424 4.85%
    $50k or less 110 $10,340,000 $94,000 $3,258 4.74%
    $150k-250k 66 $11,560,000 $175,152 $3,545 4.91%
    $250k+ 15 $3,765,000 $251,000 $3,709 5.07%

    Tech Credit Union lent most frequently to those with incomes in the $100k-150k range, with 146 originations. The second most popular income band? $50k-75k, with 136 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 168 $17,940,000 $106,786 $3,184 4.57%
    30-36% 124 $14,730,000 $118,790 $3,314 4.73%
    <20% 55 $5,215,000 $94,818 $3,125 4.49%
    39% 28 $4,010,000 $143,214 $3,266 4.78%
    44% 26 $3,940,000 $151,538 $3,427 5.15%
    42% 23 $2,705,000 $117,609 $3,547 5.50%
    43% 20 $3,020,000 $151,000 $3,755 5.12%
    36% 19 $1,465,000 $77,105 $3,408 5.09%
    40% 19 $2,435,000 $128,158 $3,058 5.17%
    38% 17 $2,425,000 $142,647 $2,862 4.26%
    46% 17 $2,525,000 $148,529 $3,899 5.17%
    45% 16 $2,340,000 $146,250 $3,588 4.92%
    41% 16 $3,190,000 $199,375 $3,040 5.07%
    37% 16 $2,100,000 $131,250 $3,222 4.66%
    47% 15 $3,015,000 $201,000 $3,242 5.30%
    49% 8 $800,000 $100,000 $2,963 4.87%
    48% 7 $855,000 $122,143 $3,683 5.05%
    50-60% 3 $315,000 $105,000 $2,922 4.91%
    >60% 2 $250,000 $125,000 $4,777 5.31%

    Tech Credit Union lent most frequently to those with DTI ratios of 20-30%, with 168 originations. The next most common DTI ratio? 30-36%, with 124 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 493 $60,295,000 $122,302 $3,260 4.73%
    Black 86 $10,760,000 $125,116 $3,476 5.11%
    Not provided 14 $1,730,000 $123,571 $3,411 4.70%
    Asian 4 $420,000 $105,000 $3,903 4.87%
    American Indian 2 $70,000 $35,000 $2,698 4.18%

    Approval Rates

    Total approvals of all applications
    89.77%

    Tech Credit Union has an average approval rate.

    Pick Rate

    Approvals leading to origination
    89.15%

    Tech Credit Union has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 599 $73,275,000 $122,329

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    599 $73,275,000 $122,329

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 90 $6,720,000 $74,667 $2,818 4.62%
    40-60% 42 $5,110,000 $121,667 $2,910 4.45%
    60-80% 100 $21,330,000 $213,300 $3,399 5.11%
    80-100% 153 $31,995,000 $209,118 $3,390 5.34%
    Under 20% 214 $8,120,000 $37,944 $2,641 4.38%