Teachers Credit Union Mortgage Rates, Fees & Info
South Bend, INLEI: 549300SXT4VBB68QCC26
Tax ID: 35-0702986
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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 a a low proportion of FHA loans. (This may mean they shy away from first time homebuyers.) Their top markets by origination volume include: Indianapolis, South Bend, Fort Wayne, Chicago, and Elkhart among others. We have data for 76 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 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.
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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| 30 Year Conventional Purchase | 7.07% | 4/21/24 |
| 30 Year Conventional Refi | 6.62% | 4/21/24 |
| 30 Year Cash-out Refi | 7.05% | 4/21/24 |
| 30 Year FHA Purchase | 7.51% | 4/21/24 |
| 30 Year FHA Refi | 6.27% | 4/21/24 |
| 30 Year VA Purchase | 6.36% | 4/21/24 |
| 30 Year VA Refi | 6.27% | 4/21/24 |
| 15 Year Conventional Purchase | 6.33% | 4/21/24 |
| 15 Year Conventional Refi | 6.23% | 4/21/24 |
| 15 Year Cash-out Refi | 6.23% | 4/21/24 |
| 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. | ||
Teachers Credit Union Mortgage Calculator
Your Estimates
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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
3,758Origination Dollar Volume (All Markets)
$524,470,000Awards
TEACHERS CREDIT UNION - 2022
TEACHERS CREDIT UNION is a 2022 , due to their low .
For 2022, less than of lenders were eligible for this award.
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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) | 952 | $156,570,000 | $164,464 | $2,254 | 4.94% |
| SOUTH BEND-MISHAWAKA, IN-MI (FHA|USDA|VA) | 951 | $106,395,000 | $111,877 | $2,085 | 4.95% |
| FORT WAYNE, IN (FHA|USDA|VA) | 397 | $72,295,000 | $182,103 | $2,712 | 5.21% |
| Chicago-Naperville-Elgin, IL-IN-WI (FHA|USDA|VA) | 319 | $48,495,000 | $152,022 | $2,591 | 5.42% |
| ELKHART-GOSHEN, IN (FHA|USDA|VA) | 287 | $37,625,000 | $131,098 | $2,031 | 4.98% |
| Outside of Metro Areas | 132 | $14,170,000 | $107,348 | $1,767 | 5.13% |
| Warsaw, IN (FHA|USDA|VA) | 98 | $11,200,000 | $114,286 | $2,150 | 5.02% |
| Plymouth, IN (FHA|USDA|VA) | 134 | $11,190,000 | $83,507 | $1,720 | 4.78% |
| NILES, MI (FHA|USDA|VA) | 69 | $8,495,000 | $123,116 | $2,559 | 5.13% |
| Huntington, IN (FHA|USDA|VA) | 61 | $6,975,000 | $114,344 | $2,185 | 5.17% |
| Crawfordsville, IN (FHA|USDA|VA) | 69 | $5,945,000 | $86,159 | $1,339 | 5.22% |
| Auburn, IN (FHA|USDA|VA) | 26 | $4,600,000 | $176,923 | $2,448 | 5.04% |
| MICHIGAN CITY-LA PORTE, IN (FHA|USDA|VA) | 35 | $4,285,000 | $122,429 | $2,173 | 5.20% |
| Angola, IN (FHA|USDA|VA) | 11 | $3,335,000 | $303,182 | $2,602 | 4.59% |
| Bluffton, IN (FHA|USDA|VA) | 18 | $3,140,000 | $174,444 | $3,172 | 6.42% |
| Kendallville, IN (FHA|USDA|VA) | 17 | $2,545,000 | $149,706 | $2,189 | 5.84% |
| KOKOMO, IN (FHA|USDA|VA) | 9 | $2,535,000 | $281,667 | $2,549 | 4.90% |
| TERRE HAUTE, IN (FHA|USDA|VA) | 24 | $2,420,000 | $100,833 | $1,979 | 5.25% |
| PHOENIX-MESA-CHANDLER, AZ (FHA|USDA|VA) | 3 | $1,985,000 | $661,667 | $13,141 | 5.92% |
| LOUISVILLE, KY (FHA|USDA|VA) | 24 | $1,930,000 | $80,417 | $1,681 | 4.95% |
| LAFAYETTE-WEST LAFAYETTE, IN (FHA|USDA|VA) | 12 | $1,930,000 | $160,833 | $2,291 | 4.63% |
| HOUSTON-THE WOODLANDS-SUGAR LAND, TX (FHA|USDA|VA) | 3 | $1,375,000 | $458,333 | $5,173 | 4.92% |
| BLOOMINGTON, IN (FHA|USDA|VA) | 11 | $1,265,000 | $115,000 | $2,508 | 5.31% |
| Decatur, IN (FHA|USDA|VA) | 9 | $1,105,000 | $122,778 | $2,579 | 5.53% |
| Holland, MI (FHA|USDA|VA) | 2 | $870,000 | $435,000 | $3,938 | 3.94% |
| TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) | 4 | $730,000 | $182,500 | $3,685 | 5.13% |
| MUNCIE, IN (FHA|USDA|VA) | 6 | $650,000 | $108,333 | $2,435 | 5.75% |
| Marion, IN (FHA|USDA|VA) | 6 | $610,000 | $101,667 | $1,846 | 5.77% |
| CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) | 1 | $525,000 | $525,000 | $6,122 | 3.75% |
| HILTON HEAD ISLAND-BLUFFTON, SC (FHA|USDA|VA) | 1 | $505,000 | $505,000 | $4,724 | 3.63% |
| LAS VEGAS-HENDERSON-PARADISE, NV (FHA|USDA|VA) | 1 | $395,000 | $395,000 | $7,356 | 6.50% |
| Detroit-Warren-Dearborn, MI (FHA|USDA|VA) | 2 | $390,000 | $195,000 | $3,551 | 4.19% |
| New Castle, IN (FHA|USDA|VA) | 6 | $390,000 | $65,000 | $1,333 | 5.19% |
| Morehead City, NC (FHA|USDA|VA) | 1 | $385,000 | $385,000 | $3,472 | 7.38% |
| COLUMBUS, IN (FHA|USDA|VA) | 4 | $380,000 | $95,000 | $1,681 | 5.38% |
| Coldwater, MI (FHA|USDA|VA) | 2 | $380,000 | $190,000 | $2,179 | 3.63% |
| LAKELAND-WINTER HAVEN, FL (FHA|USDA|VA) | 1 | $375,000 | $375,000 | $4,760 | 3.88% |
| DENVER-AURORA-LAKEWOOD, CO (FHA|USDA|VA) | 1 | $365,000 | $365,000 | $2,868 | 3.88% |
| TOLEDO, OH (FHA|USDA|VA) | 1 | $345,000 | $345,000 | $4,275 | 6.88% |
| Hillsdale, MI (FHA|USDA|VA) | 2 | $330,000 | $165,000 | $2,911 | 4.50% |
| Wabash, IN (FHA|USDA|VA) | 5 | $325,000 | $65,000 | $1,243 | 4.60% |
| NAPLES-MARCO ISLAND, FL (FHA|USDA|VA) | 1 | $305,000 | $305,000 | $3,840 | 4.25% |
| Paducah, KY-IL (FHA|USDA|VA) | 2 | $290,000 | $145,000 | $2,441 | 4.38% |
| PALM BAY-MELBOURNE-TITUSVILLE, FL (FHA|USDA|VA) | 2 | $280,000 | $140,000 | $3,385 | 4.56% |
| DELTONA-DAYTONA BEACH-ORMOND BEACH, FL (FHA|USDA|VA) | 1 | $275,000 | $275,000 | $4,250 | 6.13% |
| Vincennes, IN (FHA|USDA|VA) | 1 | $275,000 | $275,000 | $2,510 | 5.75% |
| Sturgis, MI (FHA|USDA|VA) | 2 | $260,000 | $130,000 | $1,494 | 4.38% |
| Sebastian-Vero Beach, FL (FHA|USDA|VA) | 1 | $255,000 | $255,000 | $3,783 | 5.88% |
| LANSING-EAST LANSING, MI (FHA|USDA|VA) | 1 | $225,000 | $225,000 | $2,778 | 5.63% |
| GRAND RAPIDS-KENTWOOD, MI (FHA|USDA|VA) | 1 | $225,000 | $225,000 | $1,930 | 3.75% |
| Bedford, IN (FHA|USDA|VA) | 1 | $225,000 | $225,000 | $1,439 | 4.88% |
| TULSA, OK (FHA|USDA|VA) | 1 | $205,000 | $205,000 | $4,485 | 4.88% |
| SPRINGFIELD, MO (FHA|USDA|VA) | 1 | $155,000 | $155,000 | $2,790 | 4.75% |
| Frankfort, IN (FHA|USDA|VA) | 1 | $145,000 | $145,000 | $2,286 | 5.00% |
| Peru, IN (FHA|USDA|VA) | 3 | $135,000 | $45,000 | $1,967 | 6.92% |
| EVANSVILLE, IN-KY (FHA|USDA|VA) | 1 | $135,000 | $135,000 | $2,905 | 5.50% |
| CINCINNATI, OH-KY-IN (FHA|USDA|VA) | 1 | $125,000 | $125,000 | $0 | 8.25% |
| THE VILLAGES, FL (FHA|USDA|VA) | 1 | $125,000 | $125,000 | $0 | 3.25% |
| MUSKEGON, MI (FHA|USDA|VA) | 1 | $115,000 | $115,000 | $1,956 | 4.50% |
| HICKORY-LENOIR-MORGANTON, NC (FHA|USDA|VA) | 1 | $105,000 | $105,000 | $0 | 3.25% |
| Connersville, IN (FHA|USDA|VA) | 1 | $85,000 | $85,000 | $0 | 5.50% |
| KNOXVILLE, TN (FHA|USDA|VA) | 1 | $85,000 | $85,000 | $3,586 | 3.00% |
| KALAMAZOO-PORTAGE, MI (FHA|USDA|VA) | 2 | $80,000 | $40,000 | $1,934 | 4.44% |
| NEW ORLEANS-METAIRIE, LA (FHA|USDA|VA) | 1 | $75,000 | $75,000 | $0 | 6.25% |
| North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) | 1 | $65,000 | $65,000 | $0 | 3.75% |
| SAGINAW, MI (FHA|USDA|VA) | 1 | $65,000 | $65,000 | $0 | 3.75% |
| Scottsburg, IN (FHA|USDA|VA) | 1 | $55,000 | $55,000 | $0 | 4.00% |
| Logansport, IN (FHA|USDA|VA) | 1 | $55,000 | $55,000 | $2,013 | 3.50% |
| Bellefontaine, OH (FHA|USDA|VA) | 1 | $55,000 | $55,000 | $2,720 | 5.13% |
| Clinton, IA (FHA|USDA|VA) | 1 | $45,000 | $45,000 | $0 | 6.25% |
| Greensburg, IN (FHA|USDA|VA) | 1 | $35,000 | $35,000 | $0 | 5.25% |
| North Vernon, IN (FHA|USDA|VA) | 1 | $35,000 | $35,000 | $0 | 4.75% |
| Richmond, IN (FHA|USDA|VA) | 1 | $35,000 | $35,000 | $0 | 6.25% |
| CLEVELAND-ELYRIA, OH (FHA|USDA|VA) | 1 | $35,000 | $35,000 | $0 | 3.75% |
| Madison, IN (FHA|USDA|VA) | 1 | $25,000 | $25,000 | $0 | 4.00% |
| Washington, IN (FHA|USDA|VA) | 1 | $25,000 | $25,000 | $0 | 5.63% |
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.
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Product Mix
For 2022, Teachers Credit Union's most frequently originated type of loan was Conventional, with 2,265 originations. Their 2nd most popular type was HELOC, with 1,452 originations.
Loan Reason
For 2022, Teachers Credit Union's most frequently cited loan purpose was Home Purchase, with 1,325 originations. The 2nd most popular reason was Other, with 1,219 originations.
Loan Duration/Length
For 2022, Teachers Credit Union's most frequently cited loan duration was 20 Year, with 1,530 originations. The 2nd most popular length was 30 Year, with 1,454 originations.
Origination Fees/Closing Costs
Teachers Credit Union's average total fees were $2,786, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 2,182 originations.
Interest Rates
During 2022, Teachers Credit Union's average interest rate for loans was 5.41%, while their most frequently originated rate bucket for loans was 3-4%, with 1,150 originations.
Loan Sizing
2022 saw Teachers Credit Union place emphasis on $100,000 or less loans with 1,996 originations, totaling $101,200,000 in origination value.
Applicant Income
Teachers Credit Union lent most frequently to those with incomes in the $50k-75k range, with 984 originations. The second most popular income band? $50k or less, with 832 originations.
Applicant Debt to Income Ratio
Teachers Credit Union lent most frequently to those with DTI ratios of 20-30%, with 894 originations. The next most common DTI ratio? 30-36%, with 677 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications86.16%
Teachers Credit Union has an average approval rate.
Pick Rate
Approvals leading to origination79.67%
Teachers Credit Union has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| 0.0 | 1 | $55,000 | $55,000 |
| NA | 3,757 | $524,415,000 | $139,583 |