Cu Mortgage Direct Rates, Fees & Info

SIOUX FALLS, SD

LEI: 549300VHSPIDK7A5D559

Tax ID: 68-0572881

5 stars - Updated: 4/5/25 - out of 5 stars, based on 12 reviews

Latest/2024 | 2023 Data | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data

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Mortgage Data

Review & Overview

Cu Mortgage Direct is a smaller mortgage company specializing in Home Purchase loans. Cu Mortgage Direct 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: Sioux Falls, Yankton, Watertown, Aberdeen, and Brookings among others. We have data for 11 markets. (Some data included below & more in-depth data is available with an active subscription.)

Cu Mortgage Direct has an above average approval rate when compared to the average across all lenders. They have a below average pick rate when compared to similar lenders. Cu Mortgage Direct 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
30 Year Conventional Purchase 6.79% 4/5/25
30 Year Conventional Refi 7.09% 4/5/25
30 Year Cash-out Refi 6.81% 4/5/25
30 Year FHA Purchase 7.05% 4/5/25
30 Year FHA Refi 6.72% 4/5/25
30 Year VA Purchase 6.18% 4/5/25
30 Year USDA Purchase 6.06% 4/5/25
15 Year Conventional Purchase 6.54% 4/5/25
15 Year Conventional Refi 6.21% 4/5/25
15 Year Cash-out Refi 6.21% 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.

Cu Mortgage Direct Mortgage Calculator






Your Estimates

Estimated Loan Payment: Update the calculator values and click calculate payment!

This is not an official calculator from Cu Mortgage Direct. 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

134

Origination Dollar Volume (All Markets)

$30,430,000

Awards

CU MORTGAGE DIRECT FHA Loans gold CU MORTGAGE DIRECT FHA Loans gold CU MORTGAGE DIRECT FHA Loans bronze
Show all (3) awards

Relative Rate

Cu Mortgage Direct's average 30 year fixed mortgage rate was 6.38%.

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)

Cu Mortgage Direct's average total fees/closing costs for a 30 year fixed rate mortgage were $5,636.

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
SIOUX FALLS, SD (FHA|USDA|VA) 65 $16,055,000 $247,000 $5,043 6.02%
Outside of Metro Areas 40 $7,710,000 $192,750 $4,940 6.28%
Yankton, SD (FHA|USDA|VA) 8 $1,590,000 $198,750 $6,884 6.02%
Watertown, SD (FHA|USDA|VA) 3 $1,065,000 $355,000 $6,723 6.21%
Aberdeen, SD (FHA|USDA|VA) 6 $1,040,000 $173,333 $5,855 6.15%
Brookings, SD (FHA|USDA|VA) 3 $1,005,000 $335,000 $8,218 5.30%
RAPID CITY, SD (FHA|USDA|VA) 2 $790,000 $395,000 $5,586 6.75%
SIOUX CITY, IA-NE-SD (FHA|USDA|VA) 3 $455,000 $151,667 $4,711 5.01%
Pierre, SD (FHA|USDA|VA) 2 $370,000 $185,000 $6,964 5.94%
Mitchell, SD (FHA|USDA|VA) 1 $185,000 $185,000 $4,770 6.63%
Vermillion, SD (FHA|USDA|VA) 1 $165,000 $165,000 $3,175 5.88%
Cu Mortgage Direct's top markets include Sioux Falls, Yankton, Watertown, Aberdeen, and Brookings among others.

Their top states include:
  • South Dakota (FHA|USDA|VA)
  • Similar Lenders

    We use machine learning to identify the top lenders compared against CU MORTGAGE DIRECT based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.

    SIOUX FALLS
    Similarity Rank: 253
    Central Bank
    Similarity Rank: 480
    CU MORTGAGE DIRECT, LLC
    Similarity Rank: 495
    Dacotah Bank
    Similarity Rank: 621
    Reliabank Dakota
    Similarity Rank: 690
    American Bank & Trust
    Similarity Rank: 775
    First Dakota National Bank
    Similarity Rank: 825
    BLACK HILLS FEDERAL CREDIT UNION
    Similarity Rank: 952
    First PREMIER Bank
    Similarity Rank: 960
    CORTRUST MORTGAGE, INC.
    Similarity Rank: 1088

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 89 $19,595,000 $220,169 $4,548 6.10%
    FHA 29 $6,025,000 $207,759 $6,965 6.14%
    VA 10 $3,700,000 $370,000 $7,153 6.06%
    USDA 6 $1,110,000 $185,000 $4,882 5.58%

    For 2024, Cu Mortgage Direct's most frequently originated type of loan was Conventional, with 89 originations. Their 2nd most popular type was FHA, with 29 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 104 $25,190,000 $242,212 $5,524 6.31%
    Cash Out Refi 21 $2,985,000 $142,143 $3,778 4.68%
    Refi 9 $2,255,000 $250,556 $5,973 6.67%

    For 2024, Cu Mortgage Direct's most frequently cited loan purpose was Home Purchase, with 104 originations. The 2nd most popular reason was Cash Out Refi, with 21 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 118 $29,040,000 $246,102 $5,636 6.38%
    10 Year 10 $380,000 $38,000 $1,642 2.90%
    15 Year 4 $890,000 $222,500 $5,157 6.13%
    20 Year 1 $95,000 $95,000 $3,942 6.13%
    Other 1 $25,000 $25,000 $1,485 2.90%

    For 2024, Cu Mortgage Direct's most frequently cited loan duration was 30 Year, with 118 originations. The 2nd most popular length was 10 Year, with 10 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $1k-2k 46 $8,900,000 $193,478
    $<1k 25 $3,925,000 $157,000
    $2k-3k 24 $3,750,000 $156,250
    $3k-4k 19 $4,955,000 $260,789
    $5k+ 13 $6,485,000 $498,846
    $4k-5k 7 $2,415,000 $345,000

    Cu Mortgage Direct's average total fees were $5,636, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 46 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    6-7% 77 $18,505,000 $240,325
    5-6% 34 $7,450,000 $219,118
    7-8% 12 $4,070,000 $339,167
    2.5-3% 11 $405,000 $36,818

    During 2024, Cu Mortgage Direct's average interest rate for loans was 6.38%, while their most frequently originated rate bucket for loans was 6-7%, with 77 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 56 $14,820,000 $264,643 $6,061 6.38%
    $100k-200k 46 $7,150,000 $155,435 $4,453 6.22%
    $100,000 or less 18 $940,000 $52,222 $2,492 4.22%
    $400k-600k 11 $5,325,000 $484,091 $7,367 6.84%
    $600k-1MM 3 $2,195,000 $731,667 $12,471 6.83%

    2024 saw Cu Mortgage Direct place emphasis on $200k-400k loans with 56 originations, totaling $14,820,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 40 $6,370,000 $159,250 $4,220 5.80%
    $75k-100k 33 $6,805,000 $206,212 $4,917 6.12%
    $100k-150k 25 $6,255,000 $250,200 $5,631 6.00%
    $150k-250k 17 $5,365,000 $315,588 $7,278 6.73%
    $50k or less 12 $1,550,000 $129,167 $4,104 5.72%
    $250k+ 7 $4,085,000 $583,571 $8,962 6.84%

    Cu Mortgage Direct lent most frequently to those with incomes in the $50k-75k range, with 40 originations. The second most popular income band? $75k-100k, with 33 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    30-36% 40 $8,210,000 $205,250 $4,897 6.01%
    20-30% 22 $4,380,000 $199,091 $4,869 6.26%
    36% 8 $1,470,000 $183,750 $3,888 5.55%
    37% 8 $1,480,000 $185,000 $5,611 6.38%
    41% 7 $1,335,000 $190,714 $5,036 5.93%
    49% 6 $1,380,000 $230,000 $7,267 5.63%
    39% 6 $1,640,000 $273,333 $5,610 6.52%
    48% 6 $1,690,000 $281,667 $8,079 6.44%
    40% 5 $1,215,000 $243,000 $4,243 5.31%
    <20% 5 $715,000 $143,000 $2,453 5.21%
    44% 4 $600,000 $150,000 $3,965 6.41%
    45% 4 $1,930,000 $482,500 $8,354 6.50%
    42% 4 $990,000 $247,500 $5,692 6.31%
    46% 3 $855,000 $285,000 $6,132 6.54%
    38% 3 $1,085,000 $361,667 $6,595 6.50%
    43% 2 $740,000 $370,000 $6,928 6.56%
    47% 1 $715,000 $715,000 $9,993 6.63%

    Cu Mortgage Direct lent most frequently to those with DTI ratios of 30-36%, with 40 originations. The next most common DTI ratio? 20-30%, with 22 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 120 $27,700,000 $230,833 $5,337 6.09%
    Black 5 $1,085,000 $217,000 $5,793 5.61%
    Asian 5 $985,000 $197,000 $4,250 6.10%
    Not provided 4 $660,000 $165,000 $4,212 6.53%

    Approval Rates

    Total approvals of all applications
    92.23%

    Cu Mortgage Direct has an average approval rate.

    Pick Rate

    Approvals leading to origination
    67.16%

    Cu Mortgage Direct has a low pick rate. They may have issues with closing loans or may approve everyone, but with onerous loan terms.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 134 $30,430,000 $227,090

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    134 $30,430,000 $227,090

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 10 $1,140,000 $114,000 $3,275 5.17%
    40-60% 12 $3,040,000 $253,333 $5,587 6.63%
    60-80% 27 $6,765,000 $250,556 $5,059 6.56%
    80-100% 75 $18,075,000 $241,000 $5,639 6.27%
    Over 100% 2 $1,140,000 $570,000 $17,906 6.50%
    Under 20% 8 $270,000 $33,750 $1,551 2.90%