Hometown Credit Union Mortgage Rates, Fees & Info

Kulm, ND

LEI: 549300SI84V60XS2R422

Tax ID: 45-0278490

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
  • 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

    Hometown Credit Union is a smaller credit union specializing in Cash Out Refi and Home Purchase loans. Hometown Credit Union has a high proportion of conventional loans. Their top two markets are Bismarck and Jamestown .

    Hometown Credit Union has an above average approval rate when compared to the average across all lenders.

    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.

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    SimulatedRates™

    Mortgage Type     		Simulated Rate Simulation Date
    15 Year Conventional Purchase 6.74% 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.

    Hometown Credit Union Mortgage Calculator






    Your Estimates

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

    This is not an official calculator from Hometown 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

    41

    Origination Dollar Volume (All Markets)

    $2,565,000

    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
    Outside of Metro Areas 36 $1,980,000 $55,000 $858 5.80%
    BISMARCK, ND (FHA|USDA|VA) 3 $405,000 $135,000 $534 6.00%
    Jamestown, ND (FHA|USDA|VA) 2 $180,000 $90,000 $1,380 5.60%
    Hometown Credit Union's top markets include Bismarck and Jamestown among others.

    Their top states include:
  • North Dakota (FHA|USDA|VA)
  • South Dakota (FHA|USDA|VA)

    • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 41 $2,565,000 $62,561 $859 5.80%

    For 2018, Hometown Credit Union's most frequently originated type of loan was Conventional, with 41 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Cash Out Refi 18 $1,250,000 $69,444 $671 5.82%
    Home Purchase 16 $910,000 $56,875 $1,163 5.60%
    Home Improvement 3 $35,000 $11,667 $209 6.40%
    Other 2 $170,000 $85,000 $172 6.50%
    Refi 2 $200,000 $100,000 $1,785 5.69%

    For 2018, Hometown Credit Union's most frequently cited loan purpose was Cash Out Refi, with 18 originations. The 2nd most popular reason was Home Purchase, with 16 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    5 Year 38 $2,140,000 $56,316 $917 5.81%
    Other 2 $340,000 $170,000 $122 6.00%
    15 Year 1 $85,000 $85,000 $159 5.00%

    For 2018, Hometown Credit Union's most frequently cited loan duration was 5 Year, with 38 originations. The 2nd most popular length was Other, with 2 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 36 $1,980,000 $55,000
    $1k-2k 4 $570,000 $142,500

    Hometown Credit Union's average total fees were $0, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 36 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    5-6% 27 $1,595,000 $59,074
    6-7% 11 $655,000 $59,545
    4-5% 3 $315,000 $105,000

    During 2018, Hometown Credit Union's average interest rate for loans was 0.00%, while their most frequently originated rate bucket for loans was 5-6%, with 27 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 33 $1,385,000 $41,970 $731 5.77%
    $100k-200k 8 $1,180,000 $147,500 $1,388 5.92%

    2018 saw Hometown Credit Union place emphasis on $100,000 or less loans with 33 originations, totaling $1,385,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k or less 16 $740,000 $46,250 $815 5.63%
    $50k-75k 10 $790,000 $79,000 $1,154 5.90%
    $100k-150k 5 $365,000 $73,000 $578 6.01%
    $75k-100k 4 $210,000 $52,500 $886 6.03%
    $150k-250k 3 $185,000 $61,667 $840 5.72%

    Hometown Credit Union lent most frequently to those with incomes in the $50k or less range, with 16 originations. The second most popular income band? $50k-75k, with 10 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 6 $300,000 $50,000 $894 5.78%
    39% 5 $375,000 $75,000 $709 5.56%
    41% 5 $245,000 $49,000 $324 6.35%
    30-36% 5 $195,000 $39,000 $1,063 5.40%
    <20% 5 $185,000 $37,000 $616 5.83%
    42% 4 $320,000 $80,000 $1,027 5.79%
    37% 4 $360,000 $90,000 $1,352 5.76%
    40% 3 $295,000 $98,333 $1,494 6.06%
    38% 1 $15,000 $15,000 $614 5.66%

    Hometown Credit Union lent most frequently to those with DTI ratios of 20-30%, with 6 originations. The next most common DTI ratio? 39%, with 5 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 36 $2,210,000 $61,389 $889 5.82%
    Not applicable 3 $275,000 $91,667 $568 5.84%
    Not provided 2 $80,000 $40,000 $769 5.51%

    Approval Rates

    Total approvals of all applications
    91.11%

    Hometown Credit Union has an average approval rate.

    Pick Rate

    Approvals leading to origination

    Points and Fees

    Points Originations Total Value Average Loan
    NA 41 $2,565,000 $62,561

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Single Family (1-4 Units):Manufactured 8 $480,000 $60,000
    Single Family (1-4 Units):Site-Built 33 $2,085,000 $63,182

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 3 $145,000 $48,333 $772 6.10%
    40-60% 8 $500,000 $62,500 $810 5.81%
    60-80% 18 $1,390,000 $77,222 $983 5.60%
    80-100% 7 $455,000 $65,000 $1,089 5.77%
    Under 20% 5 $75,000 $15,000 $224 6.40%

    Complaints

    Bank Name Product Issue 2018 CPFB Complaints % of Total Issues
    HUNTINGTON NATIONAL BANK, THE Conventional home mortgage Applying for a mortgage or refinancing an existing mortgage 1 2.4%
    HUNTINGTON NATIONAL BANK, THE Conventional home mortgage Closing on a mortgage 2 4.9%
    HUNTINGTON NATIONAL BANK, THE Conventional home mortgage Struggling to pay mortgage 4 9.8%
    HUNTINGTON NATIONAL BANK, THE Conventional home mortgage Trouble during payment process 13 31.7%
    HUNTINGTON NATIONAL BANK, THE FHA mortgage Applying for a mortgage or refinancing an existing mortgage 1 2.4%
    HUNTINGTON NATIONAL BANK, THE FHA mortgage Trouble during payment process 3 7.3%
    HUNTINGTON NATIONAL BANK, THE Home equity loan or line of credit (HELOC) Applying for a mortgage or refinancing an existing mortgage 2 4.9%
    HUNTINGTON NATIONAL BANK, THE Home equity loan or line of credit (HELOC) Struggling to pay mortgage 1 2.4%
    HUNTINGTON NATIONAL BANK, THE Home equity loan or line of credit (HELOC) Trouble during payment process 5 12.2%
    HUNTINGTON NATIONAL BANK, THE Other type of mortgage Applying for a mortgage or refinancing an existing mortgage 1 2.4%
    HUNTINGTON NATIONAL BANK, THE Other type of mortgage Trouble during payment process 7 17.1%
    HUNTINGTON NATIONAL BANK, THE VA mortgage Closing on a mortgage 1 2.4%