Purdue Federal Credit Union Mortgage Rates, Fees & Info
West Lafayette, INLEI: 549300U7UH8QCS8WQ406
Tax ID: 35-1163349
2021 Data | 2020 Data | 2019 Data | 2018 Data
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Mortgage Data
Overview
Purdue Federal Credit Union is a smaller credit union specializing in Home Purchase and Refi loans. Purdue Federal Credit Union has a high proportion of conventional loans. Their top markets include Lafayette, Indianapolis, Chicago, Michigan City, and Frankfort among others. Purdue Federal Credit Union has an average approval rate for mortages when compared nationally. They have a below average pick rate when compared to the same sample of other lendors. Purdue Federal Credit Union is typically a low fee lendor.Originations
2,155Origination Dollar Volume (All Markets)
$398,875,000Awards
PURDUE FEDERAL CREDIT UNION - 2021
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For 2021, less than of lenders were eligible for this award.
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Relative Rate
Purdue Federal Credit Union's average 30 year fixed rate mortgage of loans were
2.97%.
The 2021 average 30 year fixed rate mortgage across all markets of loans were 3.15%.
This yields a difference of -0.18%.
Relative Fees
Purdue Federal Credit Union's average total fees for a 30 year fixed rate
mortgage are $2,613.
The average total origination fees for 30 year fixed rate mortgages (for all loan values, including
both points & up-front fees in addition to origination fees) are $4,750.
Top Markets
| Market | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| LAFAYETTE-WEST LAFAYETTE, IN (FHA|USDA|VA) | 1,546 | $279,730,000 | $180,938 | $2,311 | 3.10% |
| INDIANAPOLIS-CARMEL-ANDERSON, IN (FHA|USDA|VA) | 119 | $23,715,000 | $199,286 | $2,246 | 3.19% |
| Chicago-Naperville-Elgin, IL-IN-WI (FHA|USDA|VA) | 81 | $14,065,000 | $173,642 | $3,057 | 3.10% |
| Outside of Metro Areas | 70 | $11,650,000 | $166,429 | $2,181 | 3.07% |
| MICHIGAN CITY-LA PORTE, IN (FHA|USDA|VA) | 46 | $5,930,000 | $128,913 | $2,328 | 3.38% |
| Frankfort, IN (FHA|USDA|VA) | 39 | $5,205,000 | $133,462 | $2,429 | 3.05% |
| BALTIMORE-COLUMBIA-TOWSON, MD (FHA|USDA|VA) | 4 | $3,640,000 | $910,000 | $5,687 | 3.31% |
| CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) | 8 | $2,560,000 | $320,000 | $4,425 | 2.94% |
| Crawfordsville, IN (FHA|USDA|VA) | 17 | $2,265,000 | $133,235 | $2,471 | 2.99% |
| FORT WAYNE, IN (FHA|USDA|VA) | 7 | $2,185,000 | $312,143 | $2,057 | 2.75% |
| ATLANTA-SANDY SPRINGS-ALPHARETTA, GA (FHA|USDA|VA) | 7 | $1,615,000 | $230,714 | $3,398 | 3.18% |
| CINCINNATI, OH-KY-IN (FHA|USDA|VA) | 10 | $1,600,000 | $160,000 | $2,720 | 3.07% |
| Washington-Arlington-Alexandria, DC-VA-MD-WV (FHA|USDA|VA) | 4 | $1,470,000 | $367,500 | $5,615 | 2.44% |
| Seattle-Tacoma-Bellevue, WA (FHA|USDA|VA) | 4 | $1,450,000 | $362,500 | $2,646 | 3.19% |
| KANSAS CITY, MO-KS (FHA|USDA|VA) | 5 | $1,345,000 | $269,000 | $2,643 | 2.85% |
| SOUTH BEND-MISHAWAKA, IN-MI (FHA|USDA|VA) | 11 | $1,145,000 | $104,091 | $2,242 | 3.09% |
| Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) | 3 | $1,125,000 | $375,000 | $4,310 | 2.96% |
| Dallas-Fort Worth-Arlington, TX (FHA|USDA|VA) | 4 | $1,030,000 | $257,500 | $5,674 | 2.88% |
| NAPLES-MARCO ISLAND, FL (FHA|USDA|VA) | 1 | $1,005,000 | $1,005,000 | $8,465 | 3.25% |
| RIVERSIDE-SAN BERNARDINO-ONTARIO, CA (FHA|USDA|VA) | 2 | $960,000 | $480,000 | $7,717 | 2.63% |
| Los Angeles-Long Beach-Anaheim, CA (FHA|USDA|VA) | 2 | $910,000 | $455,000 | $5,867 | 2.50% |
| NASHVILLE-DAVIDSON--MURFREESBORO--FRANKLIN, TN (FHA|USDA|VA) | 5 | $905,000 | $181,000 | $4,182 | 2.78% |
| RALEIGH-CARY, NC (FHA|USDA|VA) | 4 | $860,000 | $215,000 | $3,757 | 3.47% |
| LOUISVILLE/JEFFERSON COUNTY, KY-IN (FHA|USDA|VA) | 4 | $860,000 | $215,000 | $2,515 | 3.09% |
| ST. LOUIS, MO-IL (FHA|USDA|VA) | 4 | $790,000 | $197,500 | $3,408 | 2.47% |
| MINNEAPOLIS-ST. PAUL-BLOOMINGTON, MN-WI (FHA|USDA|VA) | 2 | $780,000 | $390,000 | $3,106 | 3.00% |
| CHAMPAIGN-URBANA, IL (FHA|USDA|VA) | 3 | $775,000 | $258,333 | $3,211 | 2.92% |
| CLEVELAND-ELYRIA, OH (FHA|USDA|VA) | 2 | $660,000 | $330,000 | $3,561 | 2.50% |
| Philadelphia-Camden-Wilmington, PA-NJ-DE-MD (FHA|USDA|VA) | 2 | $660,000 | $330,000 | $5,182 | 2.50% |
| ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) | 2 | $650,000 | $325,000 | $3,553 | 2.56% |
| Kill Devil Hills, NC (FHA|USDA|VA) | 1 | $645,000 | $645,000 | $4,503 | 2.38% |
| OXNARD-THOUSAND OAKS-VENTURA, CA (FHA|USDA|VA) | 1 | $625,000 | $625,000 | $9,416 | 3.00% |
| BLOOMINGTON, IN (FHA|USDA|VA) | 3 | $615,000 | $205,000 | $2,542 | 2.21% |
| NILES, MI (FHA|USDA|VA) | 3 | $585,000 | $195,000 | $2,782 | 2.96% |
| SPOKANE-SPOKANE VALLEY, WA (FHA|USDA|VA) | 1 | $575,000 | $575,000 | $3,780 | 2.75% |
| TERRE HAUTE, IN (FHA|USDA|VA) | 3 | $565,000 | $188,333 | $2,183 | 2.46% |
| PEORIA, IL (FHA|USDA|VA) | 2 | $560,000 | $280,000 | $2,143 | 2.50% |
| Española, NM (FHA|USDA|VA) | 1 | $545,000 | $545,000 | $4,032 | 2.75% |
| GAINESVILLE, FL (FHA|USDA|VA) | 2 | $540,000 | $270,000 | $3,276 | 2.56% |
| AUSTIN-ROUND ROCK-GEORGETOWN, TX (FHA|USDA|VA) | 2 | $530,000 | $265,000 | $4,118 | 2.88% |
| DENVER-AURORA-LAKEWOOD, CO (FHA|USDA|VA) | 2 | $520,000 | $260,000 | $3,580 | 2.81% |
| DAYTON-KETTERING, OH (FHA|USDA|VA) | 3 | $515,000 | $171,667 | $3,890 | 2.67% |
| COLORADO SPRINGS, CO (FHA|USDA|VA) | 1 | $505,000 | $505,000 | $2,939 | 3.25% |
| BAKERSFIELD, CA (FHA|USDA|VA) | 1 | $475,000 | $475,000 | $4,677 | 3.00% |
| ASHEVILLE, NC (FHA|USDA|VA) | 2 | $470,000 | $235,000 | $6,507 | 3.31% |
| PALM BAY-MELBOURNE-TITUSVILLE, FL (FHA|USDA|VA) | 1 | $445,000 | $445,000 | $2,966 | 2.88% |
| MILWAUKEE-WAUKESHA, WI (FHA|USDA|VA) | 1 | $435,000 | $435,000 | $2,021 | 3.13% |
| STOCKTON, CA (FHA|USDA|VA) | 1 | $425,000 | $425,000 | $4,117 | 3.00% |
| SAN JOSE-SUNNYVALE-SANTA CLARA, CA (FHA|USDA|VA) | 1 | $425,000 | $425,000 | $2,825 | 2.38% |
| Wabash, IN (FHA|USDA|VA) | 2 | $420,000 | $210,000 | $2,687 | 2.63% |
| North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) | 2 | $420,000 | $210,000 | $3,872 | 3.06% |
| PORTLAND-VANCOUVER-HILLSBORO, OR-WA (FHA|USDA|VA) | 1 | $415,000 | $415,000 | $5,010 | 2.88% |
| DURHAM-CHAPEL HILL, NC (FHA|USDA|VA) | 1 | $395,000 | $395,000 | $2,423 | 3.13% |
| PORT ST. LUCIE, FL (FHA|USDA|VA) | 2 | $390,000 | $195,000 | $3,550 | 2.75% |
| HOUSTON-THE WOODLANDS-SUGAR LAND, TX (FHA|USDA|VA) | 2 | $390,000 | $195,000 | $3,637 | 2.69% |
| EVANSVILLE, IN-KY (FHA|USDA|VA) | 5 | $385,000 | $77,000 | $2,451 | 3.15% |
| Boston-Cambridge-Newton, MA-NH (FHA|USDA|VA) | 1 | $385,000 | $385,000 | $4,356 | 2.88% |
| Plymouth, IN (FHA|USDA|VA) | 2 | $370,000 | $185,000 | $5,006 | 3.38% |
| KOKOMO, IN (FHA|USDA|VA) | 7 | $365,000 | $52,143 | $1,349 | 3.55% |
| New York-Newark-Jersey City, NY-NJ-PA (FHA|USDA|VA) | 1 | $355,000 | $355,000 | $3,960 | 2.75% |
| Athens, OH (FHA|USDA|VA) | 1 | $345,000 | $345,000 | $4,427 | 2.50% |
| PROVIDENCE-WARWICK, RI-MA (FHA|USDA|VA) | 1 | $335,000 | $335,000 | $3,393 | 3.00% |
| LAKELAND-WINTER HAVEN, FL (FHA|USDA|VA) | 1 | $335,000 | $335,000 | $3,981 | 3.00% |
| TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) | 3 | $325,000 | $108,333 | $2,655 | 3.21% |
| TOLEDO, OH (FHA|USDA|VA) | 1 | $315,000 | $315,000 | $4,621 | 2.88% |
| SAN ANTONIO-NEW BRAUNFELS, TX (FHA|USDA|VA) | 1 | $305,000 | $305,000 | $3,657 | 3.25% |
| Logansport, IN (FHA|USDA|VA) | 3 | $305,000 | $101,667 | $2,017 | 2.83% |
| San Francisco-Oakland-Berkeley, CA (FHA|USDA|VA) | 1 | $305,000 | $305,000 | $2,291 | 2.88% |
| Easton, MD (FHA|USDA|VA) | 1 | $295,000 | $295,000 | $5,929 | 2.75% |
| TWIN FALLS, ID (FHA|USDA|VA) | 1 | $295,000 | $295,000 | $4,087 | 3.00% |
| WINSTON-SALEM, NC (FHA|USDA|VA) | 1 | $285,000 | $285,000 | $1,992 | 2.38% |
| ROANOKE, VA (FHA|USDA|VA) | 1 | $285,000 | $285,000 | $3,001 | 2.75% |
| WENATCHEE, WA (FHA|USDA|VA) | 1 | $275,000 | $275,000 | $4,703 | 3.13% |
| STATE COLLEGE, PA (FHA|USDA|VA) | 1 | $275,000 | $275,000 | $4,480 | 3.00% |
| LITTLE ROCK-NORTH LITTLE ROCK-CONWAY, AR (FHA|USDA|VA) | 1 | $275,000 | $275,000 | $2,962 | 2.75% |
| PHOENIX-MESA-CHANDLER, AZ (FHA|USDA|VA) | 2 | $270,000 | $135,000 | $2,152 | 3.69% |
| PITTSBURGH, PA (FHA|USDA|VA) | 2 | $270,000 | $135,000 | $3,529 | 2.56% |
| THE VILLAGES, FL (FHA|USDA|VA) | 1 | $265,000 | $265,000 | $2,117 | 3.13% |
| ELKHART-GOSHEN, IN (FHA|USDA|VA) | 1 | $245,000 | $245,000 | $2,848 | 2.75% |
| DES MOINES-WEST DES MOINES, IA (FHA|USDA|VA) | 1 | $245,000 | $245,000 | $2,957 | 3.25% |
| MEMPHIS, TN-MS-AR (FHA|USDA|VA) | 1 | $235,000 | $235,000 | $2,914 | 2.75% |
| DELTONA-DAYTONA BEACH-ORMOND BEACH, FL (FHA|USDA|VA) | 1 | $235,000 | $235,000 | $3,548 | 2.25% |
| Bozeman, MT (FHA|USDA|VA) | 1 | $235,000 | $235,000 | $6,928 | 2.25% |
| Sebastian-Vero Beach, FL (FHA|USDA|VA) | 1 | $235,000 | $235,000 | $3,553 | 2.38% |
| Marion, IN (FHA|USDA|VA) | 2 | $230,000 | $115,000 | $2,072 | 3.50% |
| ANN ARBOR, MI (FHA|USDA|VA) | 1 | $225,000 | $225,000 | $3,285 | 2.25% |
| MONTGOMERY, AL (FHA|USDA|VA) | 1 | $225,000 | $225,000 | $4,691 | 3.00% |
| KALAMAZOO-PORTAGE, MI (FHA|USDA|VA) | 1 | $215,000 | $215,000 | $2,702 | 2.88% |
| PENSACOLA-FERRY PASS-BRENT, FL (FHA|USDA|VA) | 1 | $205,000 | $205,000 | $3,745 | 2.88% |
| BOISE CITY, ID (FHA|USDA|VA) | 1 | $205,000 | $205,000 | $4,028 | 2.88% |
| SPRINGFIELD, MA (FHA|USDA|VA) | 1 | $205,000 | $205,000 | $3,229 | 2.25% |
| LINCOLN, NE (FHA|USDA|VA) | 1 | $195,000 | $195,000 | $10,928 | 2.25% |
| MUNCIE, IN (FHA|USDA|VA) | 2 | $190,000 | $95,000 | $1,744 | 2.56% |
| KANKAKEE, IL (FHA|USDA|VA) | 1 | $185,000 | $185,000 | $3,116 | 2.88% |
| LEXINGTON-FAYETTE, KY (FHA|USDA|VA) | 1 | $185,000 | $185,000 | $2,773 | 2.25% |
| TUCSON, AZ (FHA|USDA|VA) | 1 | $185,000 | $185,000 | $2,381 | 2.38% |
| VICTORIA, TX (FHA|USDA|VA) | 1 | $175,000 | $175,000 | $2,837 | 2.38% |
| SPRINGFIELD, IL (FHA|USDA|VA) | 2 | $170,000 | $85,000 | $2,964 | 3.13% |
| LANSING-EAST LANSING, MI (FHA|USDA|VA) | 1 | $165,000 | $165,000 | $2,739 | 2.88% |
| OCALA, FL (FHA|USDA|VA) | 1 | $165,000 | $165,000 | $2,935 | 3.00% |
| BATTLE CREEK, MI (FHA|USDA|VA) | 1 | $165,000 | $165,000 | $2,508 | 2.88% |
| Brookings, SD (FHA|USDA|VA) | 1 | $155,000 | $155,000 | $2,406 | 2.75% |
| Warrensburg, MO (FHA|USDA|VA) | 1 | $155,000 | $155,000 | $2,154 | 2.25% |
| Tifton, GA (FHA|USDA|VA) | 1 | $145,000 | $145,000 | $3,320 | 2.25% |
| TULSA, OK (FHA|USDA|VA) | 1 | $145,000 | $145,000 | $3,420 | 2.38% |
| Macomb, IL (FHA|USDA|VA) | 1 | $145,000 | $145,000 | $2,174 | 3.25% |
| SHEBOYGAN, WI (FHA|USDA|VA) | 1 | $145,000 | $145,000 | $2,009 | 2.25% |
| Brainerd, MN (FHA|USDA|VA) | 1 | $145,000 | $145,000 | $3,373 | 2.25% |
| Bluffton, IN (FHA|USDA|VA) | 1 | $145,000 | $145,000 | $3,752 | 3.00% |
| CHARLESTON-NORTH CHARLESTON, SC (FHA|USDA|VA) | 1 | $135,000 | $135,000 | $355 | 5.65% |
| Warsaw, IN (FHA|USDA|VA) | 2 | $130,000 | $65,000 | $1,868 | 2.50% |
| Detroit-Warren-Dearborn, MI (FHA|USDA|VA) | 1 | $125,000 | $125,000 | $2,216 | 3.63% |
| WICHITA, KS (FHA|USDA|VA) | 1 | $125,000 | $125,000 | $1,533 | 2.38% |
| Peru, IN (FHA|USDA|VA) | 1 | $115,000 | $115,000 | $1,883 | 3.00% |
| Oxford, MS (FHA|USDA|VA) | 1 | $105,000 | $105,000 | $0 | 4.00% |
| DANVILLE, IL (FHA|USDA|VA) | 1 | $105,000 | $105,000 | $2,169 | 2.50% |
| RICHMOND, VA (FHA|USDA|VA) | 1 | $95,000 | $95,000 | $0 | 3.25% |
| Roseburg, OR (FHA|USDA|VA) | 1 | $95,000 | $95,000 | $2,960 | 2.25% |
| BAY CITY, MI (FHA|USDA|VA) | 1 | $95,000 | $95,000 | $2,291 | 3.00% |
| NEW ORLEANS-METAIRIE, LA (FHA|USDA|VA) | 1 | $95,000 | $95,000 | $6,015 | 2.25% |
| COLUMBUS, IN (FHA|USDA|VA) | 1 | $95,000 | $95,000 | $2,117 | 2.25% |
| RAPID CITY, SD (FHA|USDA|VA) | 1 | $85,000 | $85,000 | $2,701 | 2.50% |
| KINGSPORT-BRISTOL, TN-VA (FHA|USDA|VA) | 1 | $75,000 | $75,000 | $2,488 | 2.75% |
| OSHKOSH-NEENAH, WI (FHA|USDA|VA) | 1 | $75,000 | $75,000 | $1,375 | 2.25% |
| CHATTANOOGA, TN-GA (FHA|USDA|VA) | 1 | $75,000 | $75,000 | $2,206 | 2.38% |
| HARRISBURG-CARLISLE, PA (FHA|USDA|VA) | 1 | $65,000 | $65,000 | $2,245 | 2.13% |
| MADISON, WI (FHA|USDA|VA) | 1 | $55,000 | $55,000 | $0 | 3.25% |
| Adrian, MI (FHA|USDA|VA) | 1 | $25,000 | $25,000 | $0 | 3.25% |
| ROCHESTER, MN (FHA|USDA|VA) | 1 | $15,000 | $15,000 | $0 | 3.25% |
Purdue Federal Credit Union's top markets include Lafayette, Indianapolis, Chicago, Michigan City, and Frankfort among others.
Product Mix
| Loan Type | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Conventional | 2,155 | $398,875,000 | $185,093 | $2,475 | 3.09% |
For the 2021 period, Purdue Federal Credit Union's most frequently originated loan type of loans were Conventional, with 2,155 originations.
Loan Reason
| Loan Reason | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Home Purchase | 789 | $203,355,000 | $257,738 | $2,550 | 2.98% |
| Refi | 566 | $104,670,000 | $184,929 | $2,394 | 2.79% |
| Home Improvement | 329 | $22,695,000 | $68,982 | $607 | 3.62% |
| Cash Out Refi | 278 | $53,990,000 | $194,209 | $3,231 | 2.81% |
| Other | 193 | $14,165,000 | $73,394 | $205 | 3.90% |
For the 2021, Purdue Federal Credit Union's most frequently cited loan purpose of loans were Home Purchase, with 789 originations. The 2nd most popular reason of loans were Refi, with 566 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| 30 Year | 796 | $192,920,000 | $242,362 | $2,613 | 2.97% |
| 15 Year | 548 | $115,710,000 | $211,150 | $2,437 | 2.79% |
| Other | 544 | $46,780,000 | $85,993 | $0 | 3.48% |
| 10 Year | 121 | $15,655,000 | $129,380 | $1,886 | 3.20% |
| 20 Year | 98 | $19,160,000 | $195,510 | $2,676 | 2.90% |
| 5 Year | 30 | $870,000 | $29,000 | $224 | 4.37% |
| 30+ year | 15 | $7,545,000 | $503,000 | $5,449 | 3.29% |
| 1 Year | 3 | $235,000 | $78,333 | $0 | 3.83% |
For the 2021, Purdue Federal Credit Union's most frequently cited loan length of loans were 30 Year, with 796 originations. The 2nd most popular length of loans were 15 Year, with 548 originations.
Origination Fees
| Origination Fee | Originations | Total Value | Average Loan |
|---|---|---|---|
| $<1k | 1,060 | $210,880,000 | $198,943 |
| $1k-2k | 322 | $70,610,000 | $219,286 |
| $2k-3k | 101 | $24,735,000 | $244,901 |
| $3k-4k | 57 | $12,385,000 | $217,281 |
| $5k+ | 22 | $7,550,000 | $343,182 |
$2,613 of loans were Purdue Federal Credit Union's average total fees, while their most frequently occuring range of origination fees were in the $<1k bucket, with 1,060 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 3-4% | 867 | $144,195,000 | $166,315 |
| 2.5-3% | 686 | $156,900,000 | $228,717 |
| <2.5% | 476 | $91,210,000 | $191,618 |
| 4-5% | 68 | $3,510,000 | $51,618 |
| 5-6% | 56 | $2,980,000 | $53,214 |
| 6-7% | 2 | $80,000 | $40,000 |
During 2021, Purdue Federal Credit Union's average interest rate of loans were 2.97%, while their most frequently originated rate bucket of loans were 3-4%, with 867 originations.
Loan Sizing
| Loan Size | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| $100k-200k | 737 | $106,275,000 | $144,199 | $2,418 | 2.92% |
| $100,000 or less | 651 | $35,675,000 | $54,800 | $1,249 | 3.54% |
| $200k-400k | 632 | $169,700,000 | $268,513 | $2,826 | 2.84% |
| $400k-600k | 99 | $46,395,000 | $468,636 | $3,434 | 2.94% |
| $600k-1MM | 27 | $18,775,000 | $695,370 | $4,307 | 2.98% |
| $1MM+ | 9 | $22,055,000 | $2,450,556 | $6,472 | 3.43% |
2021 saw Purdue Federal Credit Union place emphasis on $100k-200k loans with 737 originations, totaling $106,275,000 in origination value.
Applicant Income
| Applicant Income | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| $100k-150k | 522 | $101,230,000 | $193,927 | $2,613 | 3.12% |
| $75k-100k | 422 | $70,060,000 | $166,019 | $2,383 | 3.00% |
| $50k-75k | 418 | $57,330,000 | $137,153 | $2,255 | 3.08% |
| $150k-250k | 336 | $78,440,000 | $233,452 | $2,942 | 3.05% |
| $50k or less | 286 | $31,310,000 | $109,476 | $1,943 | 3.10% |
| $250k+ | 92 | $32,010,000 | $347,935 | $3,317 | 2.89% |
Purdue Federal Credit Union lent most frequently to those with incomes in the $100k-150k range, with 522 originations. The second most popular income band? $75k-100k, with 422 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| 20-30% | 607 | $108,265,000 | $178,361 | $2,477 | 3.02% |
| <20% | 435 | $69,505,000 | $159,782 | $2,417 | 2.88% |
| 30-36% | 365 | $66,635,000 | $182,562 | $2,495 | 3.09% |
| 40% | 59 | $13,715,000 | $232,458 | $2,509 | 3.11% |
| 43% | 58 | $10,290,000 | $177,414 | $2,811 | 3.13% |
| 41% | 55 | $10,455,000 | $190,091 | $3,065 | 3.22% |
| 36% | 55 | $9,655,000 | $175,545 | $1,950 | 3.36% |
| 38% | 53 | $10,475,000 | $197,642 | $2,278 | 3.16% |
| 37% | 53 | $7,785,000 | $146,887 | $2,528 | 3.13% |
| 42% | 52 | $9,590,000 | $184,423 | $2,791 | 3.16% |
| 39% | 51 | $9,145,000 | $179,314 | $2,349 | 3.11% |
| 50-60% | 42 | $6,180,000 | $147,143 | $1,142 | 3.92% |
| 44% | 39 | $7,845,000 | $201,154 | $2,450 | 3.09% |
| 49% | 34 | $7,230,000 | $212,647 | $2,502 | 3.24% |
| 45% | 34 | $5,460,000 | $160,588 | $2,743 | 3.22% |
| 48% | 33 | $6,065,000 | $183,788 | $2,361 | 3.08% |
| 46% | 32 | $6,420,000 | $200,625 | $2,752 | 3.13% |
| 47% | 31 | $6,955,000 | $224,355 | $2,618 | 3.28% |
| >60% | 10 | $670,000 | $67,000 | $0 | 3.65% |
Purdue Federal Credit Union lent most frequently to those with DTI ratios of 20-30%, with 607 originations. The next most common DTI ratio? <20%, with 435 originations.
Ethnicity Mix
| Applicant Ethnicity | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| White | 1,753 | $302,765,000 | $172,712 | $2,404 | 3.11% |
| Not provided | 178 | $34,540,000 | $194,045 | $2,654 | 2.94% |
| Asian | 117 | $24,905,000 | $212,863 | $2,839 | 2.73% |
| Not applicable | 52 | $24,810,000 | $477,115 | $0 | 3.62% |
| Black | 33 | $6,055,000 | $183,485 | $2,694 | 3.25% |
| American Indian | 8 | $1,730,000 | $216,250 | $2,622 | 3.08% |
| Asian Indian | 4 | $1,640,000 | $410,000 | $4,075 | 2.72% |
| Chinese | 5 | $1,215,000 | $243,000 | $3,465 | 2.75% |
| Filipino | 1 | $655,000 | $655,000 | $6,998 | 2.75% |
| Native Hawaiian | 1 | $225,000 | $225,000 | $2,415 | 2.88% |
| Other Asian | 2 | $180,000 | $90,000 | $3,420 | 3.19% |
| Korean | 1 | $155,000 | $155,000 | $4,580 | 2.38% |
Approval Rates
Total approvals of all applications89.96%
Purdue Federal Credit Union has an average approval rate.
Pick Rate
Approvals leading to origination84.42%
Purdue Federal Credit Union has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 2,155 | $398,875,000 | $185,093 |
Occupancy Type Mix
| Dwelling Type | Originations | Total Value | Average Loan |
|---|---|---|---|
| 2,155 | $398,875,000 | $185,093 |
LTV Distribution
| Loan to Value | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| 20-40% | 309 | $27,705,000 | $89,660 | $1,575 | 3.42% |
| 40-60% | 360 | $64,540,000 | $179,278 | $2,441 | 2.77% |
| 60-80% | 681 | $167,005,000 | $245,235 | $2,869 | 2.85% |
| 80-100% | 493 | $126,715,000 | $257,028 | $2,582 | 2.95% |
| Under 20% | 308 | $11,990,000 | $38,929 | $114 | 3.86% |
Complaints
| Bank Name | Product | Issue | 2021 CPFB Complaints | % of Total Issues |
|---|---|---|---|---|
| Peer Advisors, LLC | Conventional home mortgage | Struggling to pay mortgage | 2 | 6.9% |
| Peer Advisors, LLC | Reverse mortgage | Applying for a mortgage or refinancing an existing mortgage | 1 | 3.4% |
| Peer Advisors, LLC | Reverse mortgage | Closing on a mortgage | 4 | 13.8% |
| Peer Advisors, LLC | Reverse mortgage | Struggling to pay mortgage | 9 | 31.0% |
| Peer Advisors, LLC | Reverse mortgage | Trouble during payment process | 13 | 44.8% |
