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

Jump to:

  • SimulatedRates™
  • Mortgage Calculator

    • Mortgage Data

  • Originations
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • 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 Refi, Cash Out Refi, and Home Purchase loans. Cu Mortgage Direct has a high proportion of conventional loans. They have a a low proportion of FHA loans. (This may mean they shy away from first time homebuyers.) They have a low ratio of USDA loans. Their top markets by origination volume include: Sioux Falls, Watertown, Rapid City, Yankton, and Spearfish among others. We have data for 14 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 6.43% 4/21/24
    30 Year Conventional Refi 6.40% 4/21/24
    30 Year Cash-out Refi 6.61% 4/21/24
    30 Year FHA Purchase 7.51% 4/21/24
    30 Year FHA Refi 6.86% 4/21/24
    30 Year VA Purchase 6.13% 4/21/24
    30 Year VA Refi 6.27% 4/21/24
    30 Year USDA Purchase 6.68% 4/21/24
    15 Year Conventional Purchase 5.94% 4/21/24
    15 Year Conventional Refi 5.98% 4/21/24
    15 Year Cash-out Refi 5.98% 4/21/24
    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.

    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

    1,196

    Origination Dollar Volume (All Markets)

    $243,720,000
    Show all (10) 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) 654 $137,830,000 $210,749 $3,181 2.67%
    Outside of Metro Areas 250 $46,850,000 $187,400 $3,928 2.66%
    Watertown, SD (FHA|USDA|VA) 96 $20,850,000 $217,188 $4,285 2.81%
    RAPID CITY, SD (FHA|USDA|VA) 36 $7,890,000 $219,167 $2,643 2.84%
    Yankton, SD (FHA|USDA|VA) 33 $5,815,000 $176,212 $4,180 2.61%
    Spearfish, SD (FHA|USDA|VA) 26 $5,630,000 $216,538 $1,673 2.66%
    Aberdeen, SD (FHA|USDA|VA) 26 $4,990,000 $191,923 $4,542 2.72%
    Brookings, SD (FHA|USDA|VA) 17 $3,665,000 $215,588 $4,136 2.66%
    Vermillion, SD (FHA|USDA|VA) 23 $3,645,000 $158,478 $3,409 2.70%
    SIOUX CITY, IA-NE-SD (FHA|USDA|VA) 11 $2,015,000 $183,182 $3,383 2.74%
    Mitchell, SD (FHA|USDA|VA) 10 $1,660,000 $166,000 $3,183 2.80%
    Huron, SD (FHA|USDA|VA) 7 $1,295,000 $185,000 $3,918 2.55%
    Spirit Lake, IA (FHA|USDA|VA) 5 $1,135,000 $227,000 $2,673 2.40%
    Pierre, SD (FHA|USDA|VA) 2 $450,000 $225,000 $4,511 3.06%
    Cu Mortgage Direct's top markets include Sioux Falls, Watertown, Rapid City, Yankton, and Spearfish 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.

    American Mortgage & Equity Consultants, Inc.
    Similarity Rank: 230
    SIOUX FALLS
    Similarity Rank: 649
    BANKWEST, INC.
    Similarity Rank: 660
    First National Bank of Omaha
    Similarity Rank: 978
    Dacotah Bank
    Similarity Rank: 1023
    CU MORTGAGE DIRECT, LLC
    Similarity Rank: 1204
    First Dakota National Bank
    Similarity Rank: 1517
    Reliabank Dakota
    Similarity Rank: 1518
    BLACK HILLS FEDERAL CREDIT UNION
    Similarity Rank: 1813
    Central Bank
    Similarity Rank: 2310

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 1,087 $222,955,000 $205,110 $3,265 2.68%
    VA 40 $10,650,000 $266,250 $5,329 2.53%
    FHA 36 $6,500,000 $180,556 $6,766 2.89%
    USDA 33 $3,615,000 $109,545 $3,949 2.73%

    For 2020, Cu Mortgage Direct's most frequently originated type of loan was Conventional, with 1,087 originations. Their 2nd most popular type was VA, with 40 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Refi 499 $104,275,000 $208,968 $3,298 2.62%
    Cash Out Refi 405 $82,425,000 $203,519 $3,194 2.71%
    Home Purchase 286 $56,880,000 $198,881 $4,164 2.75%
    Other 6 $140,000 $23,333 $1,022 2.90%

    For 2020, Cu Mortgage Direct's most frequently cited loan purpose was Refi, with 499 originations. The 2nd most popular reason was Cash Out Refi, with 405 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 730 $158,530,000 $217,164 $3,724 2.85%
    15 Year 319 $58,465,000 $183,276 $3,126 2.36%
    20 Year 114 $22,550,000 $197,807 $2,916 2.69%
    10 Year 33 $4,175,000 $126,515 $2,679 2.26%

    For 2020, Cu Mortgage Direct's most frequently cited loan duration was 30 Year, with 730 originations. The 2nd most popular length was 15 Year, with 319 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $2k-3k 410 $79,440,000 $193,756
    $1k-2k 287 $37,095,000 $129,251
    $<1k 261 $53,085,000 $203,391
    $3k-4k 178 $50,000,000 $280,899
    $4k-5k 45 $16,875,000 $375,000
    $5k+ 15 $7,225,000 $481,667

    Cu Mortgage Direct's average total fees were $3,724, while their most frequently occuring range of origination fees (closing costs) were in the $2k-3k bucket, with 410 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    <2.5% 523 $103,565,000 $198,021
    2.5-3% 510 $104,770,000 $205,431
    3-4% 154 $33,710,000 $218,896
    4-5% 8 $1,470,000 $183,750
    5-6% 1 $205,000 $205,000

    During 2020, Cu Mortgage Direct's average interest rate for loans was 2.85%, while their most frequently originated rate bucket for loans was <2.5%, with 523 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100k-200k 546 $83,450,000 $152,839 $3,076 2.69%
    $200k-400k 507 $135,455,000 $267,170 $3,942 2.69%
    $100,000 or less 106 $7,990,000 $75,377 $2,231 2.63%
    $400k-600k 37 $16,825,000 $454,730 $5,989 2.74%

    2020 saw Cu Mortgage Direct place emphasis on $100k-200k loans with 546 originations, totaling $83,450,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 328 $74,940,000 $228,476 $3,527 2.68%
    $50k-75k 267 $45,145,000 $169,082 $3,322 2.71%
    $75k-100k 256 $49,950,000 $195,117 $3,381 2.69%
    $50k or less 179 $25,555,000 $142,765 $3,134 2.71%
    $150k-250k 136 $37,990,000 $279,338 $3,878 2.63%
    $250k+ 30 $10,140,000 $338,000 $4,614 2.60%

    Cu Mortgage Direct lent most frequently to those with incomes in the $100k-150k range, with 328 originations. The second most popular income band? $50k-75k, with 267 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 389 $79,285,000 $203,817 $3,386 2.63%
    30-36% 237 $47,005,000 $198,333 $3,532 2.71%
    <20% 159 $31,055,000 $195,314 $2,988 2.58%
    40% 47 $10,015,000 $213,085 $3,267 2.78%
    37% 47 $9,085,000 $193,298 $3,618 2.72%
    41% 40 $7,530,000 $188,250 $3,738 2.82%
    44% 38 $8,310,000 $218,684 $3,570 2.81%
    43% 35 $7,665,000 $219,000 $3,801 2.84%
    39% 33 $6,095,000 $184,697 $3,533 2.70%
    36% 31 $6,205,000 $200,161 $3,456 2.81%
    38% 30 $6,610,000 $220,333 $3,688 2.81%
    42% 28 $6,280,000 $224,286 $3,561 2.77%
    47% 26 $5,890,000 $226,538 $3,834 2.84%
    48% 19 $4,285,000 $225,526 $4,195 2.68%
    46% 17 $3,715,000 $218,529 $4,007 2.56%
    45% 11 $2,585,000 $235,000 $4,378 2.70%
    49% 8 $1,890,000 $236,250 $4,396 2.53%

    Cu Mortgage Direct lent most frequently to those with DTI ratios of 20-30%, with 389 originations. The next most common DTI ratio? 30-36%, with 237 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 1,156 $236,000,000 $204,152 $3,473 2.68%
    Not provided 17 $2,935,000 $172,647 $1,423 2.74%
    Black 10 $2,080,000 $208,000 $4,367 2.63%
    Asian 8 $1,450,000 $181,250 $4,624 2.53%
    American Indian 4 $1,110,000 $277,500 $4,161 3.06%
    Native Hawaiian or Islander 1 $145,000 $145,000 $0 3.63%

    Approval Rates

    Total approvals of all applications
    91.85%

    Cu Mortgage Direct has an average approval rate.

    Pick Rate

    Approvals leading to origination
    82.86%

    Cu Mortgage Direct has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 1,196 $243,720,000 $203,779

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Single Family (1-4 Units):Site-Built 1,196 $243,720,000 $203,779

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 49 $6,415,000 $130,918 $1,975 2.41%
    40-60% 207 $36,305,000 $175,386 $2,873 2.49%
    60-80% 531 $112,815,000 $212,458 $3,341 2.70%
    80-100% 399 $87,005,000 $218,058 $4,060 2.80%
    Over 100% 4 $940,000 $235,000 $10,596 2.41%
    Under 20% 6 $240,000 $40,000 $1,352 2.81%