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, Frankfort, and Michigan City among others. We have data for 74 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 a below 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.
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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| Home Equity Line of Credit (HELOC) | 6.73% | 11/21/24 |
| 30 Year Conventional Purchase | 6.55% | 11/21/24 |
| 30 Year Conventional Refi | 6.48% | 11/21/24 |
| 30 Year Cash-out Refi | 6.47% | 11/21/24 |
| 15 Year Conventional Purchase | 5.98% | 11/21/24 |
| 15 Year Conventional Refi | 6.06% | 11/21/24 |
| 15 Year Cash-out Refi | 6.06% | 11/21/24 |
| 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. | ||
Purdue Federal Credit Union Mortgage Calculator
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
1,345Origination Dollar Volume (All Markets)
$207,145,000Awards
PURDUE FEDERAL CREDIT UNION - 2018
PURDUE FEDERAL CREDIT UNION is a 2018 , due to their low .
For 2018, 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 |
|---|---|---|---|---|---|
| LAFAYETTE-WEST LAFAYETTE, IN (FHA|USDA|VA) | 1,047 | $156,605,000 | $149,575 | $1,633 | 4.98% |
| INDIANAPOLIS-CARMEL-ANDERSON, IN (FHA|USDA|VA) | 73 | $12,105,000 | $165,822 | $1,876 | 4.90% |
| Outside of Metro Areas | 36 | $4,580,000 | $127,222 | $2,168 | 5.07% |
| Chicago-Naperville-Elgin, IL-IN-WI (FHA|USDA|VA) | 27 | $4,515,000 | $167,222 | $2,427 | 4.99% |
| Frankfort, IN (FHA|USDA|VA) | 25 | $3,055,000 | $122,200 | $1,705 | 5.28% |
| MICHIGAN CITY-LA PORTE, IN (FHA|USDA|VA) | 28 | $2,510,000 | $89,643 | $881 | 5.39% |
| New York-Newark-Jersey City, NY-NJ-PA (FHA|USDA|VA) | 3 | $1,585,000 | $528,333 | $4,783 | 4.46% |
| CINCINNATI, OH-KY-IN (FHA|USDA|VA) | 5 | $1,405,000 | $281,000 | $3,579 | 4.45% |
| HOUSTON-THE WOODLANDS-SUGAR LAND, TX (FHA|USDA|VA) | 3 | $1,125,000 | $375,000 | $5,741 | 4.42% |
| NASHVILLE-DAVIDSON-MURFREESBORO-FRANKLIN, TN (FHA|USDA|VA) | 2 | $1,080,000 | $540,000 | $3,507 | 4.56% |
| ATLANTA-SANDY SPRINGS-ALPHARETTA, GA (FHA|USDA|VA) | 5 | $1,045,000 | $209,000 | $2,690 | 4.95% |
| BLOOMINGTON, IN (FHA|USDA|VA) | 3 | $905,000 | $301,667 | $2,239 | 4.38% |
| MILWAUKEE-WAUKESHA, WI (FHA|USDA|VA) | 2 | $750,000 | $375,000 | $1,050 | 4.88% |
| RALEIGH-CARY, NC (FHA|USDA|VA) | 1 | $695,000 | $695,000 | $2,978 | 4.50% |
| COLUMBUS, OH (FHA|USDA|VA) | 4 | $680,000 | $170,000 | $2,488 | 4.81% |
| PALM BAY-MELBOURNE-TITUSVILLE, FL (FHA|USDA|VA) | 2 | $570,000 | $285,000 | $3,587 | 4.63% |
| MINNEAPOLIS-ST. PAUL-BLOOMINGTON, MN-WI (FHA|USDA|VA) | 2 | $570,000 | $285,000 | $2,995 | 4.25% |
| Crawfordsville, IN (FHA|USDA|VA) | 7 | $525,000 | $75,000 | $841 | 5.30% |
| GREENVILLE-ANDERSON, SC (FHA|USDA|VA) | 2 | $510,000 | $255,000 | $3,014 | 4.75% |
| BRIDGEPORT-STAMFORD-NORWALK, CT (FHA|USDA|VA) | 1 | $495,000 | $495,000 | $4,093 | 3.50% |
| LAS VEGAS-HENDERSON-PARADISE, NV (FHA|USDA|VA) | 1 | $495,000 | $495,000 | $3,160 | 4.50% |
| PHOENIX-MESA-CHANDLER, AZ (FHA|USDA|VA) | 3 | $485,000 | $161,667 | $3,559 | 5.17% |
| BARNSTABLE TOWN, MA (FHA|USDA|VA) | 1 | $455,000 | $455,000 | $3,467 | 4.00% |
| Breckenridge, CO (FHA|USDA|VA) | 1 | $455,000 | $455,000 | $2,647 | 4.13% |
| FORT COLLINS, CO (FHA|USDA|VA) | 1 | $455,000 | $455,000 | $3,255 | 4.00% |
| DURHAM-CHAPEL HILL, NC (FHA|USDA|VA) | 2 | $440,000 | $220,000 | $2,447 | 4.38% |
| Detroit-Warren-Dearborn, MI (FHA|USDA|VA) | 2 | $410,000 | $205,000 | $2,742 | 4.06% |
| COLUMBUS, IN (FHA|USDA|VA) | 2 | $410,000 | $205,000 | $1,940 | 4.38% |
| Seattle-Tacoma-Bellevue, WA (FHA|USDA|VA) | 1 | $395,000 | $395,000 | $3,184 | 4.63% |
| RICHMOND, VA (FHA|USDA|VA) | 1 | $395,000 | $395,000 | $2,981 | 3.75% |
| KOKOMO, IN (FHA|USDA|VA) | 3 | $315,000 | $105,000 | $1,131 | 5.46% |
| RIVERSIDE-SAN BERNARDINO-ONTARIO, CA (FHA|USDA|VA) | 1 | $315,000 | $315,000 | $2,528 | 4.75% |
| FORT WAYNE, IN (FHA|USDA|VA) | 3 | $315,000 | $105,000 | $1,663 | 5.00% |
| AUSTIN-ROUND ROCK-GEORGETOWN, TX (FHA|USDA|VA) | 1 | $305,000 | $305,000 | $3,911 | 4.50% |
| TALLAHASSEE, FL (FHA|USDA|VA) | 1 | $305,000 | $305,000 | $3,958 | 3.88% |
| LEXINGTON-FAYETTE, KY (FHA|USDA|VA) | 1 | $305,000 | $305,000 | $2,650 | 4.63% |
| IOWA CITY, IA (FHA|USDA|VA) | 1 | $295,000 | $295,000 | $1,929 | 4.63% |
| LOUISVILLE, KY (FHA|USDA|VA) | 2 | $280,000 | $140,000 | $2,860 | 4.56% |
| HARTFORD-EAST HARTFORD-MIDDLETOWN, CT (FHA|USDA|VA) | 1 | $275,000 | $275,000 | $2,478 | 4.63% |
| DELTONA-DAYTONA BEACH-ORMOND BEACH, FL (FHA|USDA|VA) | 1 | $265,000 | $265,000 | $3,737 | 4.50% |
| MEMPHIS, TN-MS-AR (FHA|USDA|VA) | 1 | $245,000 | $245,000 | $2,934 | 5.13% |
| JONESBORO, AR (FHA|USDA|VA) | 1 | $225,000 | $225,000 | $2,440 | 4.13% |
| HUNTSVILLE, AL (FHA|USDA|VA) | 1 | $225,000 | $225,000 | $2,724 | 4.88% |
| Logansport, IN (FHA|USDA|VA) | 2 | $220,000 | $110,000 | $902 | 5.13% |
| BELLINGHAM, WA (FHA|USDA|VA) | 1 | $205,000 | $205,000 | $2,891 | 4.25% |
| North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) | 2 | $190,000 | $95,000 | $2,723 | 4.75% |
| VICTORIA, TX (FHA|USDA|VA) | 1 | $185,000 | $185,000 | $3,373 | 4.75% |
| SEBRING-AVON PARK, FL (FHA|USDA|VA) | 1 | $185,000 | $185,000 | $3,179 | 4.88% |
| Warrensburg, MO (FHA|USDA|VA) | 1 | $175,000 | $175,000 | $2,482 | 4.38% |
| Dallas-Fort Worth-Arlington, TX (FHA|USDA|VA) | 1 | $175,000 | $175,000 | $3,603 | 4.75% |
| BLOOMINGTON, IL (FHA|USDA|VA) | 1 | $165,000 | $165,000 | $2,107 | 4.00% |
| EVANSVILLE, IN-KY (FHA|USDA|VA) | 1 | $165,000 | $165,000 | $1,725 | 4.88% |
| ANN ARBOR, MI (FHA|USDA|VA) | 1 | $155,000 | $155,000 | $2,002 | 4.75% |
| Charleston-Mattoon, IL (FHA|USDA|VA) | 1 | $155,000 | $155,000 | $2,689 | 4.13% |
| BATON ROUGE, LA (FHA|USDA|VA) | 1 | $145,000 | $145,000 | $7,310 | 4.38% |
| HARRISBURG-CARLISLE, PA (FHA|USDA|VA) | 1 | $145,000 | $145,000 | $2,912 | 4.00% |
| SOUTH BEND-MISHAWAKA, IN-MI (FHA|USDA|VA) | 2 | $140,000 | $70,000 | $1,734 | 5.75% |
| LAKELAND-WINTER HAVEN, FL (FHA|USDA|VA) | 1 | $135,000 | $135,000 | $2,752 | 4.38% |
| AKRON, OH (FHA|USDA|VA) | 1 | $125,000 | $125,000 | $2,970 | 4.00% |
| WICHITA, KS (FHA|USDA|VA) | 1 | $125,000 | $125,000 | $1,722 | 4.63% |
| Plymouth, IN (FHA|USDA|VA) | 1 | $115,000 | $115,000 | $2,148 | 4.50% |
| SHEBOYGAN, WI (FHA|USDA|VA) | 1 | $115,000 | $115,000 | $1,764 | 4.13% |
| Sturgis, MI (FHA|USDA|VA) | 1 | $115,000 | $115,000 | $1,797 | 4.00% |
| AMES, IA (FHA|USDA|VA) | 1 | $115,000 | $115,000 | $2,199 | 4.50% |
| New Castle, IN (FHA|USDA|VA) | 1 | $105,000 | $105,000 | $0 | 5.25% |
| FAYETTEVILLE-SPRINGDALE-ROGERS, AR (FHA|USDA|VA) | 1 | $95,000 | $95,000 | $3,446 | 4.50% |
| CLARKSVILLE, TN-KY (FHA|USDA|VA) | 1 | $65,000 | $65,000 | $2,205 | 5.50% |
| Warsaw, IN (FHA|USDA|VA) | 1 | $65,000 | $65,000 | $0 | 5.00% |
| MONTGOMERY, AL (FHA|USDA|VA) | 1 | $65,000 | $65,000 | $0 | 6.50% |
| FLORENCE, SC (FHA|USDA|VA) | 1 | $55,000 | $55,000 | $2,322 | 5.13% |
| LANSING-EAST LANSING, MI (FHA|USDA|VA) | 1 | $25,000 | $25,000 | $0 | 5.75% |
| DAYTON-KETTERING, OH (FHA|USDA|VA) | 1 | $15,000 | $15,000 | $0 | 6.00% |
| Scottsburg, IN (FHA|USDA|VA) | 1 | $15,000 | $15,000 | $0 | 5.75% |
| Bluffton, IN (FHA|USDA|VA) | 1 | $15,000 | $15,000 | $0 | 5.25% |
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 | 1,023 | $184,625,000 | $180,474 | $1,772 | 4.77% |
| HELOC | 322 | $22,520,000 | $69,938 | n/a | 5.62% |
For 2018, Purdue Federal Credit Union's most frequently originated type of loan was Conventional, with 1,023 originations. Their 2nd most popular type was HELOC, with 322 originations.
Loan Reason
For 2018, Purdue Federal Credit Union's most frequently cited loan purpose was Home Purchase, with 707 originations. The 2nd most popular reason was Home Improvement, with 247 originations.
Loan Duration/Length
For 2018, Purdue Federal Credit Union's most frequently cited loan duration was 30 Year, with 561 originations. The 2nd most popular length was Other, with 348 originations.
Origination Fees/Closing Costs
Purdue Federal Credit Union's average total fees were $2,166, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 884 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 4-5% | 697 | $139,565,000 | $200,237 |
| 5-6% | 396 | $33,080,000 | $83,535 |
| 3-4% | 133 | $28,525,000 | $214,474 |
| 6-7% | 108 | $5,590,000 | $51,759 |
| 7-8% | 11 | $385,000 | $35,000 |
During 2018, Purdue Federal Credit Union's average interest rate for loans was 4.64%, while their most frequently originated rate bucket for loans was 4-5%, with 697 originations.
Loan Sizing
2018 saw Purdue Federal Credit Union place emphasis on $100,000 or less loans with 597 originations, totaling $29,745,000 in origination value.
Applicant Income
Purdue Federal Credit Union lent most frequently to those with incomes in the $100k-150k range, with 299 originations. The second most popular income band? $50k-75k, with 293 originations.
Applicant Debt to Income Ratio
Purdue Federal Credit Union lent most frequently to those with DTI ratios of 20-30%, with 390 originations. The next most common DTI ratio? 30-36%, with 249 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications89.89%
Purdue Federal Credit Union has an average approval rate.
Pick Rate
Approvals leading to origination83.79%
Purdue Federal Credit Union has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 1,345 | $207,145,000 | $154,011 |
Occupancy Type Mix
LTV Distribution
Complaints
| Bank Name | Product | Issue | 2018 CPFB Complaints | % of Total Issues |
|---|---|---|---|---|
| Peer Advisors, LLC | Conventional home mortgage | Struggling to pay mortgage | 1 | 3.4% |
| Peer Advisors, LLC | Conventional home mortgage | Trouble during payment process | 1 | 3.4% |
| Peer Advisors, LLC | Reverse mortgage | Applying for a mortgage or refinancing an existing mortgage | 2 | 6.9% |
| Peer Advisors, LLC | Reverse mortgage | Closing on a mortgage | 6 | 20.7% |
| Peer Advisors, LLC | Reverse mortgage | Struggling to pay mortgage | 6 | 20.7% |
| Peer Advisors, LLC | Reverse mortgage | Trouble during payment process | 13 | 44.8% |