Purdue Federal Credit Union Mortgage Rates, Fees & Info
West Lafayette, INLEI: 549300U7UH8QCS8WQ406
Tax ID: 35-1163349
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Mortgage Data
Review & Overview
Purdue Federal Credit Union is a smaller credit union specializing in Home Purchase loans. Purdue Federal Credit Union has a high proportion of conventional loans. Their top markets by origination volume include: Lafayette, Indianapolis, Chicago, Michigan City, and Detroit among others. We have data for 69 markets. (Some data included below & more in-depth data is available with an active subscription.)Purdue Federal Credit Union has an average approval rate when compared to the average across all lenders. They have an average pick rate when compared to similar lenders. Purdue Federal 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.
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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| Home Equity Line of Credit (HELOC) | 6.68% | 4/5/25 |
| 30 Year Conventional Purchase | 6.88% | 4/5/25 |
| 30 Year Conventional Refi | 6.54% | 4/5/25 |
| 30 Year Cash-out Refi | 7.05% | 4/5/25 |
| 15 Year Conventional Purchase | 6.39% | 4/5/25 |
| 15 Year Conventional Refi | 7.21% | 4/5/25 |
| 15 Year Cash-out Refi | 7.21% | 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. | ||
Purdue Federal Credit Union Mortgage Calculator
Your Estimates
Estimated Loan Payment: Update the calculator values and click calculate payment!
This is not an official calculator from Purdue Federal 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
1,161Origination Dollar Volume (All Markets)
$231,775,000Awards
PURDUE FEDERAL CREDIT UNION - 2024
PURDUE FEDERAL CREDIT UNION is a 2024 , due to their low .
For 2024, less than of lenders were eligible for this award.
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Relative Rate
Purdue Federal Credit Union's average 30 year fixed mortgage rate was
6.72%.
The 2024 average 30 year fixed rate mortgage across all markets and lenders was 6.55%.
This yields a difference of 0.17%.
Relative Fees (Closing Costs)
Purdue Federal Credit Union's average total fees/closing costs for a 30 year fixed rate
mortgage were $3,100.
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 |
|---|---|---|---|---|---|
| LAFAYETTE-WEST LAFAYETTE, IN (FHA|USDA|VA) | 801 | $144,215,000 | $180,044 | $1,889 | 7.39% |
| INDIANAPOLIS-CARMEL-ANDERSON, IN (FHA|USDA|VA) | 74 | $30,290,000 | $409,324 | $2,129 | 7.20% |
| Chicago-Naperville-Elgin, IL-IN-WI (FHA|USDA|VA) | 68 | $10,330,000 | $151,912 | $2,864 | 7.44% |
| Outside of Metro Areas | 47 | $6,965,000 | $148,191 | $1,811 | 7.43% |
| MICHIGAN CITY-LA PORTE, IN (FHA|USDA|VA) | 48 | $4,900,000 | $102,083 | $1,161 | 7.60% |
| Detroit-Warren-Dearborn, MI (FHA|USDA|VA) | 4 | $2,140,000 | $535,000 | $4,792 | 6.38% |
| Frankfort, IN (FHA|USDA|VA) | 19 | $2,115,000 | $111,316 | $1,726 | 7.66% |
| NAPLES-MARCO ISLAND, FL (FHA|USDA|VA) | 1 | $2,105,000 | $2,105,000 | $35,266 | 7.38% |
| NASHVILLE-DAVIDSON-MURFREESBORO-FRANKLIN, TN (FHA|USDA|VA) | 2 | $2,070,000 | $1,035,000 | $2,437 | 6.38% |
| San Francisco-Oakland-Berkeley, CA (FHA|USDA|VA) | 1 | $1,535,000 | $1,535,000 | $9,343 | 6.25% |
| Seattle-Tacoma-Bellevue, WA (FHA|USDA|VA) | 1 | $1,445,000 | $1,445,000 | $6,873 | 6.88% |
| FORT COLLINS, CO (FHA|USDA|VA) | 3 | $1,385,000 | $461,667 | $2,327 | 6.21% |
| SOUTH BEND-MISHAWAKA, IN-MI (FHA|USDA|VA) | 8 | $1,230,000 | $153,750 | $4,658 | 6.61% |
| TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) | 3 | $1,135,000 | $378,333 | $6,546 | 6.96% |
| KOKOMO, IN (FHA|USDA|VA) | 7 | $1,075,000 | $153,571 | $1,675 | 7.48% |
| LOUISVILLE, KY (FHA|USDA|VA) | 3 | $995,000 | $331,667 | $3,010 | 6.96% |
| MINNEAPOLIS-ST. PAUL-BLOOMINGTON, MN-WI (FHA|USDA|VA) | 3 | $805,000 | $268,333 | $4,504 | 7.63% |
| ST. LOUIS, MO-IL (FHA|USDA|VA) | 3 | $785,000 | $261,667 | $2,682 | 7.08% |
| ATLANTA-SANDY SPRINGS-ALPHARETTA, GA (FHA|USDA|VA) | 2 | $780,000 | $390,000 | $15,318 | 7.94% |
| Oxford, MS (FHA|USDA|VA) | 2 | $740,000 | $370,000 | $4,137 | 6.87% |
| BATON ROUGE, LA (FHA|USDA|VA) | 1 | $705,000 | $705,000 | $6,896 | 7.25% |
| VALLEJO, CA (FHA|USDA|VA) | 1 | $675,000 | $675,000 | $7,668 | 7.00% |
| CINCINNATI, OH-KY-IN (FHA|USDA|VA) | 1 | $665,000 | $665,000 | $5,300 | 7.00% |
| Boston-Cambridge-Newton, MA-NH (FHA|USDA|VA) | 1 | $625,000 | $625,000 | $7,071 | 7.00% |
| FORT WAYNE, IN (FHA|USDA|VA) | 4 | $620,000 | $155,000 | $959 | 7.63% |
| ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) | 1 | $595,000 | $595,000 | $3,879 | 6.13% |
| Crawfordsville, IN (FHA|USDA|VA) | 6 | $590,000 | $98,333 | $668 | 7.48% |
| RALEIGH-CARY, NC (FHA|USDA|VA) | 1 | $585,000 | $585,000 | $4,582 | 7.13% |
| STOCKTON, CA (FHA|USDA|VA) | 1 | $585,000 | $585,000 | $5,918 | 7.13% |
| SAN JOSE-SUNNYVALE-SANTA CLARA, CA (FHA|USDA|VA) | 1 | $545,000 | $545,000 | $3,707 | 7.00% |
| MADISON, WI (FHA|USDA|VA) | 1 | $505,000 | $505,000 | $0 | 7.50% |
| PHOENIX-MESA-CHANDLER, AZ (FHA|USDA|VA) | 1 | $425,000 | $425,000 | $3,150 | 6.63% |
| Brainerd, MN (FHA|USDA|VA) | 1 | $395,000 | $395,000 | $5,081 | 5.88% |
| COLORADO SPRINGS, CO (FHA|USDA|VA) | 1 | $385,000 | $385,000 | $6,749 | 6.13% |
| Laramie, WY (FHA|USDA|VA) | 1 | $385,000 | $385,000 | $2,773 | 6.38% |
| SPRINGFIELD, MA (FHA|USDA|VA) | 1 | $385,000 | $385,000 | $5,726 | 6.50% |
| Taos, NM (FHA|USDA|VA) | 1 | $375,000 | $375,000 | $2,771 | 7.13% |
| Athens, OH (FHA|USDA|VA) | 1 | $375,000 | $375,000 | $5,116 | 6.13% |
| STATE COLLEGE, PA (FHA|USDA|VA) | 1 | $355,000 | $355,000 | $5,885 | 5.88% |
| COLUMBUS, GA-AL (FHA|USDA|VA) | 1 | $355,000 | $355,000 | $4,696 | 6.13% |
| Traverse City, MI (FHA|USDA|VA) | 1 | $325,000 | $325,000 | $5,122 | 7.13% |
| Plymouth, IN (FHA|USDA|VA) | 2 | $310,000 | $155,000 | $1,629 | 7.88% |
| Washington-Arlington-Alexandria, DC-VA-MD-WV (FHA|USDA|VA) | 1 | $305,000 | $305,000 | $0 | 8.00% |
| BALTIMORE-COLUMBIA-TOWSON, MD (FHA|USDA|VA) | 1 | $275,000 | $275,000 | $10,454 | 7.63% |
| PRESCOTT VALLEY-PRESCOTT, AZ (FHA|USDA|VA) | 1 | $255,000 | $255,000 | $4,033 | 6.63% |
| BLOOMINGTON, IN (FHA|USDA|VA) | 1 | $245,000 | $245,000 | $0 | 8.25% |
| AUSTIN-ROUND ROCK-GEORGETOWN, TX (FHA|USDA|VA) | 1 | $235,000 | $235,000 | $4,958 | 5.25% |
| HICKORY-LENOIR-MORGANTON, NC (FHA|USDA|VA) | 1 | $235,000 | $235,000 | $4,912 | 7.00% |
| TERRE HAUTE, IN (FHA|USDA|VA) | 2 | $230,000 | $115,000 | $0 | 7.63% |
| Philadelphia-Camden-Wilmington, PA-NJ-DE-MD (FHA|USDA|VA) | 1 | $205,000 | $205,000 | $4,202 | 6.50% |
| Enterprise, AL (FHA|USDA|VA) | 1 | $185,000 | $185,000 | $4,002 | 6.50% |
| TUCSON, AZ (FHA|USDA|VA) | 1 | $185,000 | $185,000 | $2,289 | 5.00% |
| GRAND RAPIDS-KENTWOOD, MI (FHA|USDA|VA) | 1 | $165,000 | $165,000 | $3,092 | 6.63% |
| PITTSBURGH, PA (FHA|USDA|VA) | 1 | $155,000 | $155,000 | $3,807 | 6.88% |
| CHARLESTON-NORTH CHARLESTON, SC (FHA|USDA|VA) | 1 | $145,000 | $145,000 | $0 | 7.25% |
| DANVILLE, IL (FHA|USDA|VA) | 1 | $135,000 | $135,000 | $2,600 | 6.13% |
| ANN ARBOR, MI (FHA|USDA|VA) | 1 | $115,000 | $115,000 | $0 | 8.25% |
| CHAMPAIGN-URBANA, IL (FHA|USDA|VA) | 1 | $115,000 | $115,000 | $0 | 7.25% |
| Roswell, NM (FHA|USDA|VA) | 1 | $105,000 | $105,000 | $4,476 | 7.88% |
| Greenville, OH (FHA|USDA|VA) | 1 | $95,000 | $95,000 | $4,696 | 6.38% |
| EVANSVILLE, IN-KY (FHA|USDA|VA) | 1 | $95,000 | $95,000 | $0 | 8.75% |
| Bedford, IN (FHA|USDA|VA) | 1 | $85,000 | $85,000 | $1,747 | 6.63% |
| Logansport, IN (FHA|USDA|VA) | 3 | $85,000 | $28,333 | $63 | 8.00% |
| ELKHART-GOSHEN, IN (FHA|USDA|VA) | 1 | $85,000 | $85,000 | $0 | 8.75% |
| PORT ST. LUCIE, FL (FHA|USDA|VA) | 1 | $75,000 | $75,000 | $0 | 8.25% |
| DAPHNE-FAIRHOPE-FOLEY, AL (FHA|USDA|VA) | 1 | $55,000 | $55,000 | $250 | 7.50% |
| MILWAUKEE-WAUKESHA, WI (FHA|USDA|VA) | 1 | $45,000 | $45,000 | $485 | 7.75% |
| LITTLE ROCK-NORTH LITTLE ROCK-CONWAY, AR (FHA|USDA|VA) | 1 | $35,000 | $35,000 | $0 | 7.25% |
| Forest City, NC (FHA|USDA|VA) | 1 | $25,000 | $25,000 | $190 | 8.00% |
Similar Lenders
We use machine learning to identify the top lenders compared against PURDUE FEDERAL 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
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 713 | $183,015,000 | $256,683 | $2,172 | 6.98% |
| HELOC | 448 | $48,760,000 | $108,839 | n/a | 7.99% |
For 2024, Purdue Federal Credit Union's most frequently originated type of loan was Conventional, with 713 originations. Their 2nd most popular type was HELOC, with 448 originations.
Loan Reason
For 2024, Purdue Federal Credit Union's most frequently cited loan purpose was Home Purchase, with 490 originations. The 2nd most popular reason was Home Improvement, with 292 originations.
Loan Duration/Length
For 2024, Purdue Federal Credit Union's most frequently cited loan duration was Other, with 465 originations. The 2nd most popular length was 30 Year, with 347 originations.
Origination Fees/Closing Costs
Purdue Federal Credit Union's average total fees were $3,100, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 535 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 7-8% | 479 | $62,795,000 | $131,096 |
| 6-7% | 366 | $125,750,000 | $343,579 |
| Over 8% | 246 | $26,260,000 | $106,748 |
| 5-6% | 68 | $16,660,000 | $245,000 |
| 4-5% | 2 | $310,000 | $155,000 |
During 2024, Purdue Federal Credit Union's average interest rate for loans was 6.72%, while their most frequently originated rate bucket for loans was 7-8%, with 479 originations.
Loan Sizing
2024 saw Purdue Federal Credit Union place emphasis on $100,000 or less loans with 473 originations, totaling $23,695,000 in origination value.
Applicant Income
Purdue Federal Credit Union lent most frequently to those with incomes in the $100k-150k range, with 302 originations. The second most popular income band? $150k-250k, with 240 originations.
Applicant Debt to Income Ratio
Purdue Federal Credit Union lent most frequently to those with DTI ratios of 20-30%, with 294 originations. The next most common DTI ratio? 30-36%, with 204 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications82.56%
Purdue Federal Credit Union has a below average approval rate.
Pick Rate
Approvals leading to origination90.44%
Purdue Federal Credit Union has an average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 1,161 | $231,775,000 | $199,634 |