Cu Mortgage Direct Rates, Fees & Info
SIOUX FALLS, SDLEI: 549300VHSPIDK7A5D559
Tax ID: 68-0572881
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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. Their top markets by origination volume include: Sioux Falls, Watertown, Yankton, Brookings, and Vermillion among others. We have data for 13 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.
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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| 30 Year Conventional Purchase | 6.43% | 12/16/24 |
| 30 Year Conventional Refi | 6.40% | 12/16/24 |
| 30 Year Cash-out Refi | 6.61% | 12/16/24 |
| 30 Year FHA Purchase | 7.51% | 12/16/24 |
| 30 Year FHA Refi | 6.86% | 12/16/24 |
| 30 Year VA Purchase | 6.13% | 12/16/24 |
| 30 Year VA Refi | 6.27% | 12/16/24 |
| 30 Year USDA Purchase | 6.68% | 12/16/24 |
| 15 Year Conventional Purchase | 5.94% | 12/16/24 |
| 15 Year Conventional Refi | 5.98% | 12/16/24 |
| 15 Year Cash-out Refi | 5.98% | 12/16/24 |
| 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. | ||
Cu Mortgage Direct Mortgage Calculator
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
315Origination Dollar Volume (All Markets)
$52,865,000Awards
CU MORTGAGE DIRECT - 2018
CU MORTGAGE DIRECT 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 |
|---|---|---|---|---|---|
| SIOUX FALLS, SD (FHA|USDA|VA) | 132 | $23,620,000 | $178,939 | $3,032 | 4.52% |
| Outside of Metro Areas | 99 | $15,015,000 | $151,667 | $3,706 | 4.41% |
| Watertown, SD (FHA|USDA|VA) | 27 | $4,235,000 | $156,852 | $3,555 | 4.50% |
| Yankton, SD (FHA|USDA|VA) | 19 | $3,045,000 | $160,263 | $3,880 | 4.29% |
| Brookings, SD (FHA|USDA|VA) | 9 | $1,755,000 | $195,000 | $3,995 | 4.32% |
| Vermillion, SD (FHA|USDA|VA) | 9 | $1,475,000 | $163,889 | $3,948 | 4.50% |
| SIOUX CITY, IA-NE-SD (FHA|USDA|VA) | 2 | $680,000 | $340,000 | $12,436 | 4.25% |
| Huron, SD (FHA|USDA|VA) | 4 | $600,000 | $150,000 | $3,297 | 4.34% |
| RAPID CITY, SD (FHA|USDA|VA) | 3 | $535,000 | $178,333 | $4,840 | 4.38% |
| Spearfish, SD (FHA|USDA|VA) | 2 | $520,000 | $260,000 | $3,398 | 4.25% |
| Pierre, SD (FHA|USDA|VA) | 2 | $500,000 | $250,000 | $6,492 | 4.50% |
| Aberdeen, SD (FHA|USDA|VA) | 3 | $455,000 | $151,667 | $4,615 | 4.04% |
| Mitchell, SD (FHA|USDA|VA) | 4 | $430,000 | $107,500 | $2,523 | 4.13% |
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.
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Product Mix
For 2018, Cu Mortgage Direct's most frequently originated type of loan was Conventional, with 186 originations. Their 2nd most popular type was FHA, with 54 originations.
Loan Reason
For 2018, Cu Mortgage Direct's most frequently cited loan purpose was Home Purchase, with 241 originations. The 2nd most popular reason was Cash Out Refi, with 49 originations.
Loan Duration/Length
For 2018, Cu Mortgage Direct's most frequently cited loan duration was 30 Year, with 286 originations. The 2nd most popular length was 15 Year, with 26 originations.
Origination Fees/Closing Costs
Cu Mortgage Direct's average total fees were $3,537, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 100 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 4-5% | 227 | $37,925,000 | $167,070 |
| 3-4% | 69 | $11,915,000 | $172,681 |
| 5-6% | 18 | $2,690,000 | $149,444 |
| 7-8% | 1 | $335,000 | $335,000 |
During 2018, Cu Mortgage Direct's average interest rate for loans was 4.49%, while their most frequently originated rate bucket for loans was 4-5%, with 227 originations.
Loan Sizing
2018 saw Cu Mortgage Direct place emphasis on $100k-200k loans with 169 originations, totaling $24,925,000 in origination value.
Applicant Income
Cu Mortgage Direct lent most frequently to those with incomes in the $50k-75k range, with 98 originations. The second most popular income band? $50k or less, with 89 originations.
Applicant Debt to Income Ratio
Cu Mortgage Direct lent most frequently to those with DTI ratios of 20-30%, with 75 originations. The next most common DTI ratio? 30-36%, with 64 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications91.65%
Cu Mortgage Direct has an average approval rate.
Pick Rate
Approvals leading to origination85.08%
Cu Mortgage Direct has an average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| 1670.2 | 1 | $105,000 | $105,000 |
| 2716.85 | 1 | $325,000 | $325,000 |
| 319.5 | 1 | $145,000 | $145,000 |
| NA | 312 | $52,290,000 | $167,596 |
Occupancy Type Mix
| Dwelling Type | Originations | Total Value | Average Loan |
|---|---|---|---|
| Single Family (1-4 Units):Site-Built | 315 | $52,865,000 | $167,825 |