Cu Mortgage Direct Rates, Fees & Info

SIOUX FALLS, SD

LEI: 549300VHSPIDK7A5D559

Tax ID: 68-0572881

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

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  • SimulatedRates™
  • Mortgage Calculator

    • Mortgage Data

  • Originations
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • Complaints
  • Similar Lenders
  • Loan Length
  • Loan to Value Info
  • Debt-to-Income
  • Applicant Income
  • Ethnicity Info
  • Approval & Pick Rates
  • Points and Fees
  • Origination Fees (Closing Costs)

    • Review & Overview

    Cu Mortgage Direct is a smaller mortgage company specializing in Home Purchase, Cash Out Refi, and Refi 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, Vermillion, and Aberdeen among others. We have data for 12 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Cu Mortgage Direct 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. 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 6.43% 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






    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

    458

    Origination Dollar Volume (All Markets)

    $83,820,000
    Show all (6) awards

    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) 266 $51,420,000 $193,308 $4,439 3.76%
    Outside of Metro Areas 90 $14,320,000 $159,111 $3,922 3.80%
    Watertown, SD (FHA|USDA|VA) 39 $7,365,000 $188,846 $4,676 3.86%
    Yankton, SD (FHA|USDA|VA) 20 $3,300,000 $165,000 $4,622 3.61%
    Vermillion, SD (FHA|USDA|VA) 11 $1,605,000 $145,909 $3,689 3.59%
    Aberdeen, SD (FHA|USDA|VA) 9 $1,605,000 $178,333 $4,853 4.06%
    Brookings, SD (FHA|USDA|VA) 8 $1,540,000 $192,500 $3,843 3.59%
    RAPID CITY, SD (FHA|USDA|VA) 5 $875,000 $175,000 $2,871 3.48%
    Spearfish, SD (FHA|USDA|VA) 4 $780,000 $195,000 $3,755 3.66%
    Mitchell, SD (FHA|USDA|VA) 4 $560,000 $140,000 $3,232 4.03%
    Pierre, SD (FHA|USDA|VA) 1 $235,000 $235,000 $4,819 3.00%
    Huron, SD (FHA|USDA|VA) 1 $215,000 $215,000 $4,610 4.50%
    Cu Mortgage Direct's top markets include Sioux Falls, Watertown, Yankton, Vermillion, and Aberdeen among others.

    Their top states include:
  • South Dakota (FHA|USDA|VA)
  • Iowa (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: 333
    First Bank & Trust
    Similarity Rank: 375
    BLACK HILLS FEDERAL CREDIT UNION
    Similarity Rank: 616
    CU MORTGAGE DIRECT, LLC
    Similarity Rank: 648
    Dacotah Bank
    Similarity Rank: 700
    First Dakota National Bank
    Similarity Rank: 720
    First National Bank of Omaha
    Similarity Rank: 780
    IOWA BANKERS MORTGAGE CORPORATION
    Similarity Rank: 960
    First PREMIER Bank
    Similarity Rank: 1260
    CORTRUST MORTGAGE, INC.
    Similarity Rank: 1534

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 323 $61,645,000 $190,851 $3,960 3.97%
    VA 50 $11,210,000 $224,200 $5,580 3.18%
    USDA 46 $4,470,000 $97,174 $3,448 3.25%
    FHA 39 $6,495,000 $166,538 $6,126 3.52%

    For 2019, Cu Mortgage Direct's most frequently originated type of loan was Conventional, with 323 originations. Their 2nd most popular type was VA, with 50 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 257 $45,325,000 $176,362 $4,423 3.81%
    Cash Out Refi 95 $18,245,000 $192,053 $4,536 3.95%
    Refi 94 $19,990,000 $212,660 $4,207 3.60%
    Other 9 $185,000 $20,556 $962 2.90%
    Home Improvement 3 $75,000 $25,000 $971 2.90%

    For 2019, Cu Mortgage Direct's most frequently cited loan purpose was Home Purchase, with 257 originations. The 2nd most popular reason was Cash Out Refi, with 95 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 385 $72,815,000 $189,130 $4,451 3.84%
    15 Year 43 $7,485,000 $174,070 $4,068 3.40%
    10 Year 15 $665,000 $44,333 $1,465 2.97%
    20 Year 15 $2,855,000 $190,333 $4,140 3.74%

    For 2019, Cu Mortgage Direct's most frequently cited loan duration was 30 Year, with 385 originations. The 2nd most popular length was 15 Year, with 43 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $2k-3k 169 $32,405,000 $191,746
    $1k-2k 130 $15,550,000 $119,615
    $3k-4k 48 $13,720,000 $285,833
    $<1k 46 $5,250,000 $114,130
    $4k-5k 19 $6,975,000 $367,105
    $5k+ 4 $1,890,000 $472,500

    Cu Mortgage Direct's average total fees were $4,451, while their most frequently occuring range of origination fees (closing costs) were in the $2k-3k bucket, with 169 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    3-4% 283 $53,025,000 $187,367
    4-5% 108 $19,590,000 $181,389
    2.5-3% 56 $9,050,000 $161,607
    5-6% 11 $2,155,000 $195,909

    During 2019, Cu Mortgage Direct's average interest rate for loans was 3.84%, while their most frequently originated rate bucket for loans was 3-4%, with 283 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100k-200k 216 $33,370,000 $154,491 $3,918 3.82%
    $200k-400k 161 $42,075,000 $261,335 $5,405 3.77%
    $100,000 or less 73 $4,845,000 $66,370 $2,612 3.64%
    $400k-600k 8 $3,530,000 $441,250 $8,416 3.61%

    2019 saw Cu Mortgage Direct place emphasis on $100k-200k loans with 216 originations, totaling $33,370,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k or less 137 $18,265,000 $133,321 $3,633 3.64%
    $50k-75k 130 $21,650,000 $166,538 $4,264 3.77%
    $100k-150k 80 $18,390,000 $229,875 $5,139 3.83%
    $75k-100k 71 $13,505,000 $190,211 $4,238 3.89%
    $150k-250k 30 $8,720,000 $290,667 $5,096 4.05%
    $250k+ 10 $3,290,000 $329,000 $5,786 3.55%

    Cu Mortgage Direct lent most frequently to those with incomes in the $50k or less range, with 137 originations. The second most popular income band? $50k-75k, with 130 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 110 $19,120,000 $173,818 $3,912 3.78%
    30-36% 92 $16,180,000 $175,870 $4,067 3.84%
    <20% 46 $8,830,000 $191,957 $3,921 3.41%
    41% 26 $4,550,000 $175,000 $4,558 3.71%
    37% 22 $3,480,000 $158,182 $3,884 3.69%
    40% 21 $3,545,000 $168,810 $4,045 3.98%
    38% 19 $3,565,000 $187,632 $4,472 3.78%
    42% 17 $3,065,000 $180,294 $4,156 3.79%
    44% 16 $3,150,000 $196,875 $5,128 3.92%
    36% 15 $2,915,000 $194,333 $4,349 4.06%
    43% 14 $2,840,000 $202,857 $4,864 3.80%
    39% 11 $2,205,000 $200,455 $4,384 3.55%
    49% 10 $1,880,000 $188,000 $5,863 3.79%
    45% 10 $2,030,000 $203,000 $5,122 3.73%
    47% 10 $2,050,000 $205,000 $6,124 3.63%
    46% 8 $1,910,000 $238,750 $5,455 4.05%
    48% 8 $1,620,000 $202,500 $4,891 3.99%
    >60% 2 $580,000 $290,000 $4,181 4.25%
    50-60% 1 $305,000 $305,000 $13,872 2.88%

    Cu Mortgage Direct lent most frequently to those with DTI ratios of 20-30%, with 110 originations. The next most common DTI ratio? 30-36%, with 92 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 445 $81,805,000 $183,831 $4,317 3.77%
    Asian 5 $835,000 $167,000 $3,935 3.73%
    Not provided 3 $545,000 $181,667 $4,578 3.76%
    Black 3 $495,000 $165,000 $3,360 4.38%
    American Indian 2 $140,000 $70,000 $3,007 3.50%

    Approval Rates

    Total approvals of all applications
    86.99%

    Cu Mortgage Direct has an average approval rate.

    Pick Rate

    Approvals leading to origination
    78.82%

    Cu Mortgage Direct has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 458 $83,820,000 $183,013

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Single Family (1-4 Units):Site-Built 458 $83,820,000 $183,013

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 13 $1,345,000 $103,462 $2,903 3.75%
    40-60% 34 $5,400,000 $158,824 $3,831 3.60%
    60-80% 136 $27,160,000 $199,706 $4,174 3.95%
    80-100% 259 $48,385,000 $186,815 $4,499 3.74%
    Over 100% 5 $1,285,000 $257,000 $10,797 3.40%
    Under 20% 11 $245,000 $22,273 $898 3.02%

    Complaints

    Bank Name Product Issue 2019 CPFB Complaints % of Total Issues
    CU MORTGAGE SERVICES INC. Conventional home mortgage Applying for a mortgage or refinancing an existing mortgage 1 100.0%