Teachers Credit Union Mortgage Rates, Fees & Info
South Bend, INLEI: 549300SXT4VBB68QCC26
Tax ID: 35-0702986
Latest/2024 | 2023 Data | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data
Jump to:
Mortgage Data
Review & Overview
Teachers Credit Union is a smaller credit union specializing in Home Purchase loans. Teachers Credit Union has a high proportion of conventional loans. They have an average proportion of FHA loans. They have a low ratio of USDA loans. Their top markets by origination volume include: Indianapolis, South Bend, Fort Wayne, Elkhart, and Champaign among others. We have data for 54 markets. (Some data included below & more in-depth data is available with an active subscription.)Teachers 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. Teachers 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 |
|---|---|---|
| Home Equity Line of Credit (HELOC) | 7.29% | 4/5/25 |
| 30 Year Conventional Purchase | 6.91% | 4/5/25 |
| 30 Year Conventional Refi | 6.75% | 4/5/25 |
| 30 Year Cash-out Refi | 7.44% | 4/5/25 |
| 30 Year FHA Purchase | 6.95% | 4/5/25 |
| 30 Year FHA Refi | 6.72% | 4/5/25 |
| 30 Year VA Purchase | 6.40% | 4/5/25 |
| 30 Year USDA Purchase | 6.53% | 4/5/25 |
| 15 Year Conventional Purchase | 6.43% | 4/5/25 |
| 15 Year Conventional Refi | 7.76% | 4/5/25 |
| 15 Year Cash-out Refi | 7.76% | 4/5/25 |
| 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. | ||
Teachers Credit Union Mortgage Calculator
Your Estimates
Estimated Loan Payment: Update the calculator values and click calculate payment!
This is not an official calculator from Teachers 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
2,300Origination Dollar Volume (All Markets)
$303,430,000Awards
TEACHERS CREDIT UNION - 2024
TEACHERS CREDIT UNION is a 2024 , due to their low .
For 2024, less than of lenders were eligible for this award.
Work for TEACHERS CREDIT UNION?
Use this award on your own site. Either save and use the images below, or pass the provided image embed code to your development team.
Relative Rate
Teachers Credit Union's average 30 year fixed mortgage rate was
6.65%.
The 2024 average 30 year fixed rate mortgage across all markets and lenders was 6.55%.
This yields a difference of 0.1%.
Relative Fees (Closing Costs)
Teachers Credit Union's average total fees/closing costs for a 30 year fixed rate
mortgage were $3,492.
The average total origination fees for 30 year fixed rate mortgages across all lenders (for all loan values, including
both points & up-front fees in addition to origination fees) were $8,356.
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 |
|---|---|---|---|---|---|
| INDIANAPOLIS-CARMEL-ANDERSON, IN (FHA|USDA|VA) | 638 | $72,340,000 | $113,386 | $1,848 | 8.14% |
| SOUTH BEND-MISHAWAKA, IN-MI (FHA|USDA|VA) | 632 | $68,380,000 | $108,196 | $2,690 | 7.92% |
| FORT WAYNE, IN (FHA|USDA|VA) | 175 | $31,175,000 | $178,143 | $3,276 | 7.20% |
| ELKHART-GOSHEN, IN (FHA|USDA|VA) | 187 | $23,425,000 | $125,267 | $3,178 | 7.91% |
| CHAMPAIGN-URBANA, IL (FHA|USDA|VA) | 2 | $22,310,000 | $11,155,000 | $0 | 7.09% |
| Warsaw, IN (FHA|USDA|VA) | 113 | $13,585,000 | $120,221 | $2,349 | 7.87% |
| Chicago-Naperville-Elgin, IL-IN-WI (FHA|USDA|VA) | 109 | $12,785,000 | $117,294 | $2,394 | 7.98% |
| Plymouth, IN (FHA|USDA|VA) | 79 | $7,515,000 | $95,127 | $2,075 | 7.85% |
| NILES, MI (FHA|USDA|VA) | 59 | $7,295,000 | $123,644 | $3,073 | 7.89% |
| Outside of Metro Areas | 55 | $6,805,000 | $123,727 | $3,170 | 7.85% |
| Crawfordsville, IN (FHA|USDA|VA) | 50 | $4,750,000 | $95,000 | $2,206 | 8.17% |
| MICHIGAN CITY-LA PORTE, IN (FHA|USDA|VA) | 25 | $3,475,000 | $139,000 | $3,357 | 7.58% |
| Huntington, IN (FHA|USDA|VA) | 33 | $3,465,000 | $105,000 | $2,250 | 7.95% |
| Bluffton, IN (FHA|USDA|VA) | 13 | $2,475,000 | $190,385 | $3,036 | 6.73% |
| BLOOMINGTON, IN (FHA|USDA|VA) | 5 | $2,245,000 | $449,000 | $0 | 7.75% |
| Auburn, IN (FHA|USDA|VA) | 11 | $2,035,000 | $185,000 | $3,404 | 6.93% |
| New Castle, IN (FHA|USDA|VA) | 5 | $1,805,000 | $361,000 | $6,602 | 7.58% |
| Kendallville, IN (FHA|USDA|VA) | 11 | $1,775,000 | $161,364 | $5,034 | 7.39% |
| LAFAYETTE-WEST LAFAYETTE, IN (FHA|USDA|VA) | 7 | $1,715,000 | $245,000 | $4,524 | 7.07% |
| LOUISVILLE, KY (FHA|USDA|VA) | 15 | $1,555,000 | $103,667 | $1,693 | 8.09% |
| PHOENIX-MESA-CHANDLER, AZ (FHA|USDA|VA) | 3 | $1,475,000 | $491,667 | $7,239 | 6.71% |
| Sturgis, MI (FHA|USDA|VA) | 6 | $1,420,000 | $236,667 | $5,876 | 7.13% |
| CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) | 2 | $990,000 | $495,000 | $5,665 | 6.94% |
| Wabash, IN (FHA|USDA|VA) | 8 | $840,000 | $105,000 | $3,622 | 7.48% |
| TERRE HAUTE, IN (FHA|USDA|VA) | 9 | $825,000 | $91,667 | $2,587 | 7.61% |
| Logansport, IN (FHA|USDA|VA) | 5 | $805,000 | $161,000 | $6,747 | 7.43% |
| Decatur, IN (FHA|USDA|VA) | 4 | $690,000 | $172,500 | $2,100 | 6.84% |
| MUNCIE, IN (FHA|USDA|VA) | 5 | $585,000 | $117,000 | $2,805 | 6.88% |
| KOKOMO, IN (FHA|USDA|VA) | 3 | $415,000 | $138,333 | $1,708 | 6.71% |
| CRESTVIEW-FORT WALTON BEACH-DESTIN, FL (FHA|USDA|VA) | 1 | $375,000 | $375,000 | $5,568 | 5.25% |
| Detroit-Warren-Dearborn, MI (FHA|USDA|VA) | 1 | $325,000 | $325,000 | $5,103 | 6.75% |
| LAS VEGAS-HENDERSON-PARADISE, NV (FHA|USDA|VA) | 1 | $275,000 | $275,000 | $6,114 | 7.13% |
| Madison, IN (FHA|USDA|VA) | 1 | $255,000 | $255,000 | $7,589 | 6.00% |
| LANSING-EAST LANSING, MI (FHA|USDA|VA) | 1 | $255,000 | $255,000 | $7,711 | 6.75% |
| Marion, IN (FHA|USDA|VA) | 1 | $245,000 | $245,000 | $4,579 | 7.13% |
| Cullman, AL (FHA|USDA|VA) | 1 | $245,000 | $245,000 | $3,604 | 6.75% |
| SAN ANTONIO-NEW BRAUNFELS, TX (FHA|USDA|VA) | 1 | $235,000 | $235,000 | $0 | 7.23% |
| BATTLE CREEK, MI (FHA|USDA|VA) | 1 | $215,000 | $215,000 | $3,056 | 7.13% |
| GRAND RAPIDS-KENTWOOD, MI (FHA|USDA|VA) | 1 | $215,000 | $215,000 | $4,440 | 6.88% |
| KALAMAZOO-PORTAGE, MI (FHA|USDA|VA) | 1 | $195,000 | $195,000 | $1,552 | 5.50% |
| DAYTON-KETTERING, OH (FHA|USDA|VA) | 1 | $185,000 | $185,000 | $3,000 | 5.75% |
| COLUMBUS, IN (FHA|USDA|VA) | 3 | $185,000 | $61,667 | $1,496 | 7.63% |
| Connersville, IN (FHA|USDA|VA) | 1 | $175,000 | $175,000 | $5,369 | 6.25% |
| Richmond, IN (FHA|USDA|VA) | 2 | $160,000 | $80,000 | $2,236 | 7.63% |
| Peru, IN (FHA|USDA|VA) | 3 | $155,000 | $51,667 | $0 | 8.67% |
| Holland, MI (FHA|USDA|VA) | 1 | $155,000 | $155,000 | $0 | 8.50% |
| HARRISONBURG, VA (FHA|USDA|VA) | 1 | $145,000 | $145,000 | $0 | 6.88% |
| Adrian, MI (FHA|USDA|VA) | 1 | $135,000 | $135,000 | $3,098 | 7.38% |
| RALEIGH-CARY, NC (FHA|USDA|VA) | 1 | $135,000 | $135,000 | $4,471 | 6.88% |
| JACKSON, TN (FHA|USDA|VA) | 1 | $85,000 | $85,000 | $3,917 | 7.25% |
| Angola, IN (FHA|USDA|VA) | 2 | $40,000 | $20,000 | $0 | 9.25% |
| Frankfort, IN (FHA|USDA|VA) | 1 | $35,000 | $35,000 | $0 | 8.50% |
| Bedford, IN (FHA|USDA|VA) | 1 | $35,000 | $35,000 | $0 | 10.50% |
| CINCINNATI, OH-KY-IN (FHA|USDA|VA) | 1 | $15,000 | $15,000 | $0 | 7.75% |
Similar Lenders
We use machine learning to identify the top lenders compared against TEACHERS CREDIT UNION based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.
Similarity Rank: 36
Similarity Rank: 44
Similarity Rank: 60
Similarity Rank: 79
Similarity Rank: 185
Similarity Rank: 247
Similarity Rank: 288
Similarity Rank: 325
Similarity Rank: 416
Similarity Rank: 432
Product Mix
For 2024, Teachers Credit Union's most frequently originated type of loan was HELOC, with 1,189 originations. Their 2nd most popular type was Conventional, with 995 originations.
Loan Reason
For 2024, Teachers Credit Union's most frequently cited loan purpose was Home Improvement, with 743 originations. The 2nd most popular reason was Home Purchase, with 622 originations.
Loan Duration/Length
For 2024, Teachers Credit Union's most frequently cited loan duration was 20 Year, with 1,230 originations. The 2nd most popular length was 30 Year, with 629 originations.
Origination Fees/Closing Costs
Teachers Credit Union's average total fees were $3,492, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 663 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| Over 8% | 1,227 | $88,525,000 | $72,148 |
| 6-7% | 484 | $115,050,000 | $237,707 |
| 7-8% | 457 | $73,365,000 | $160,536 |
| 5-6% | 131 | $26,395,000 | $201,489 |
| 4-5% | 1 | $95,000 | $95,000 |
During 2024, Teachers Credit Union's average interest rate for loans was 6.65%, while their most frequently originated rate bucket for loans was Over 8%, with 1,227 originations.
Loan Sizing
2024 saw Teachers Credit Union place emphasis on $100,000 or less loans with 1,337 originations, totaling $67,855,000 in origination value.
Applicant Income
Teachers Credit Union lent most frequently to those with incomes in the $50k-75k range, with 569 originations. The second most popular income band? $100k-150k, with 506 originations.
Applicant Debt to Income Ratio
Teachers Credit Union lent most frequently to those with DTI ratios of 20-30%, with 513 originations. The next most common DTI ratio? 30-36%, with 396 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications81.38%
Teachers Credit Union has a below average approval rate.
Pick Rate
Approvals leading to origination78.65%
Teachers Credit Union has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 2,300 | $303,430,000 | $131,926 |