Hometown Credit Union Mortgage Rates, Fees & Info
Kulm, NDLEI: 549300SI84V60XS2R422
Tax ID: 45-0278490
Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data
Jump to:
Mortgage Data
Review & Overview
Hometown Credit Union is a smaller credit union specializing in Cash Out Refi and Other loans. Hometown Credit Union has a high proportion of conventional loans. Their top markets by origination volume include: Aberdeen, Bismarck, Jamestown, and Casper among others. We have data for 5 markets. (Some data included below & more in-depth data is available with an active subscription.)Hometown Credit Union has an above average approval rate when compared to the average across all lenders. They have a below average pick rate when compared to similar 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.
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 |
|---|---|---|
| 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
32Origination Dollar Volume (All Markets)
$4,630,000Top 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 | 24 | $3,730,000 | $155,417 | $2,283 | 5.54% |
| Aberdeen, SD (FHA|USDA|VA) | 1 | $295,000 | $295,000 | $2,997 | 7.39% |
| BISMARCK, ND (FHA|USDA|VA) | 3 | $275,000 | $91,667 | $1,911 | 6.03% |
| Jamestown, ND (FHA|USDA|VA) | 3 | $185,000 | $61,667 | $1,607 | 6.50% |
| CASPER, WY (FHA|USDA|VA) | 1 | $145,000 | $145,000 | $2,611 | 6.57% |
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 32 | $4,630,000 | $144,688 | $2,217 | 5.77% |
For 2022, Hometown Credit Union's most frequently originated type of loan was Conventional, with 32 originations.
Loan Reason
For 2022, Hometown Credit Union's most frequently cited loan purpose was Cash Out Refi, with 15 originations. The 2nd most popular reason was Home Purchase, with 9 originations.
Loan Duration/Length
For 2022, Hometown Credit Union's most frequently cited loan duration was 5 Year, with 13 originations. The 2nd most popular length was 15 Year, with 12 originations.
Origination Fees/Closing Costs
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 19 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 4-5% | 11 | $2,705,000 | $245,909 |
| 6-7% | 11 | $955,000 | $86,818 |
| 5-6% | 7 | $485,000 | $69,286 |
| 7-8% | 3 | $485,000 | $161,667 |
During 2022, Hometown Credit Union's average interest rate for loans was 0.00%, while their most frequently originated rate bucket for loans was 4-5%, with 11 originations.
Loan Sizing
2022 saw Hometown Credit Union place emphasis on $100,000 or less loans with 16 originations, totaling $920,000 in origination value.
Applicant Income
Hometown Credit Union lent most frequently to those with incomes in the $50k-75k range, with 12 originations. The second most popular income band? $75k-100k, with 8 originations.
Applicant Debt to Income Ratio
Hometown Credit Union lent most frequently to those with DTI ratios of 20-30%, with 9 originations. The next most common DTI ratio? <20%, with 4 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications92.31%
Hometown Credit Union has an average approval rate.
Pick Rate
Approvals leading to origination87.50%
Hometown Credit Union has an average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 32 | $4,630,000 | $144,688 |
LTV Distribution
Complaints
| Bank Name | Product | Issue | 2022 CPFB Complaints | % of Total Issues |
|---|---|---|---|---|
| HUNTINGTON NATIONAL BANK, THE | Conventional home mortgage | Struggling to pay mortgage | 1 | 50.0% |
| HUNTINGTON NATIONAL BANK, THE | Conventional home mortgage | Trouble during payment process | 1 | 50.0% |