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 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, Watertown, Yankton, Aberdeen, 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 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

    274

    Origination Dollar Volume (All Markets)

    $56,450,000

    Awards

    CU MORTGAGE DIRECT FHA Loans silver CU MORTGAGE DIRECT VA Loans silver CU MORTGAGE DIRECT USDA Loans silver CU MORTGAGE DIRECT 30 Year Conventional Loans bronze
    Show all (4) 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) 125 $28,815,000 $230,520 $4,138 4.64%
    Outside of Metro Areas 65 $9,995,000 $153,769 $4,010 5.04%
    Watertown, SD (FHA|USDA|VA) 34 $8,350,000 $245,588 $5,561 4.57%
    Yankton, SD (FHA|USDA|VA) 15 $2,595,000 $173,000 $4,354 5.09%
    Aberdeen, SD (FHA|USDA|VA) 12 $2,170,000 $180,833 $4,756 4.60%
    Vermillion, SD (FHA|USDA|VA) 8 $1,460,000 $182,500 $5,143 4.88%
    RAPID CITY, SD (FHA|USDA|VA) 5 $865,000 $173,000 $1,243 3.70%
    SIOUX CITY, IA-NE-SD (FHA|USDA|VA) 4 $850,000 $212,500 $4,994 3.94%
    Pierre, SD (FHA|USDA|VA) 1 $365,000 $365,000 $6,505 5.25%
    Brookings, SD (FHA|USDA|VA) 2 $340,000 $170,000 $2,559 4.69%
    Spearfish, SD (FHA|USDA|VA) 1 $295,000 $295,000 $0 3.75%
    Spirit Lake, IA (FHA|USDA|VA) 1 $255,000 $255,000 $5,886 4.50%
    Mason City, IA (FHA|USDA|VA) 1 $95,000 $95,000 $4,043 5.25%
    Cu Mortgage Direct's top markets include Sioux Falls, Watertown, Yankton, Aberdeen, and Vermillion 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 State Bank
    Similarity Rank: 288
    The First National Bank in Sioux Falls
    Similarity Rank: 364
    SIOUX FALLS
    Similarity Rank: 378
    IOWA BANKERS MORTGAGE CORPORATION
    Similarity Rank: 806
    BLACK HILLS FEDERAL CREDIT UNION
    Similarity Rank: 810
    CU MORTGAGE DIRECT, LLC
    Similarity Rank: 884
    Central Bank
    Similarity Rank: 1300
    Reliabank Dakota
    Similarity Rank: 1344
    American Bank & Trust
    Similarity Rank: 1530
    Dacotah Bank
    Similarity Rank: 1632

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 208 $43,040,000 $206,923 $3,743 4.66%
    FHA 35 $6,695,000 $191,286 $6,666 5.14%
    USDA 18 $2,630,000 $146,111 $4,107 4.58%
    VA 13 $4,085,000 $314,231 $7,121 4.98%

    For 2022, Cu Mortgage Direct's most frequently originated type of loan was Conventional, with 208 originations. Their 2nd most popular type was FHA, with 35 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 186 $39,910,000 $214,570 $4,513 5.11%
    Cash Out Refi 49 $10,125,000 $206,633 $4,326 4.12%
    Refi 33 $6,265,000 $189,848 $3,660 3.83%
    Other 6 $150,000 $25,000 $1,017 2.90%

    For 2022, Cu Mortgage Direct's most frequently cited loan purpose was Home Purchase, with 186 originations. The 2nd most popular reason was Cash Out Refi, with 49 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 231 $51,155,000 $221,450 $4,532 4.98%
    15 Year 29 $4,155,000 $143,276 $3,602 3.46%
    20 Year 8 $990,000 $123,750 $2,607 3.38%
    10 Year 3 $75,000 $25,000 $1,071 2.90%
    Other 3 $75,000 $25,000 $963 2.90%

    For 2022, Cu Mortgage Direct's most frequently cited loan duration was 30 Year, with 231 originations. The 2nd most popular length was 15 Year, with 29 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 85 $16,035,000 $188,647
    $2k-3k 76 $14,050,000 $184,868
    $1k-2k 47 $4,515,000 $96,064
    $3k-4k 42 $11,640,000 $277,143
    $4k-5k 14 $5,390,000 $385,000
    $5k+ 10 $4,820,000 $482,000

    Cu Mortgage Direct's average total fees were $4,532, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 85 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    5-6% 89 $21,515,000 $241,742
    3-4% 63 $12,875,000 $204,365
    4-5% 52 $9,650,000 $185,577
    6-7% 39 $7,765,000 $199,103
    2.5-3% 20 $3,310,000 $165,500
    <2.5% 9 $975,000 $108,333
    7-8% 2 $360,000 $180,000

    During 2022, Cu Mortgage Direct's average interest rate for loans was 4.98%, while their most frequently originated rate bucket for loans was 5-6%, with 89 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100k-200k 111 $16,995,000 $153,108 $3,771 4.57%
    $200k-400k 103 $27,635,000 $268,301 $5,079 5.01%
    $100,000 or less 43 $2,925,000 $68,023 $2,681 4.47%
    $400k-600k 14 $6,830,000 $487,857 $7,807 4.85%
    $600k-1MM 3 $2,065,000 $688,333 $3,978 4.04%

    2022 saw Cu Mortgage Direct place emphasis on $100k-200k loans with 111 originations, totaling $16,995,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 91 $15,945,000 $175,220 $3,993 4.80%
    $75k-100k 59 $11,735,000 $198,898 $4,231 4.85%
    $100k-150k 57 $13,925,000 $244,298 $5,026 4.73%
    $50k or less 48 $6,190,000 $128,958 $3,512 4.36%
    $150k-250k 12 $5,070,000 $422,500 $5,689 4.84%
    $250k+ 7 $3,585,000 $512,143 $5,995 5.09%

    Cu Mortgage Direct lent most frequently to those with incomes in the $50k-75k range, with 91 originations. The second most popular income band? $75k-100k, with 59 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 61 $10,935,000 $179,262 $3,781 4.52%
    30-36% 48 $9,850,000 $205,208 $3,801 4.70%
    <20% 21 $3,365,000 $160,238 $3,012 3.94%
    37% 16 $3,370,000 $210,625 $4,696 4.77%
    46% 14 $2,490,000 $177,857 $4,494 4.40%
    38% 14 $2,950,000 $210,714 $4,635 4.94%
    44% 13 $2,445,000 $188,077 $4,551 4.81%
    39% 13 $3,385,000 $260,385 $5,022 5.19%
    45% 12 $2,350,000 $195,833 $4,737 5.11%
    41% 11 $2,995,000 $272,273 $5,799 5.48%
    40% 11 $3,625,000 $329,545 $5,033 4.41%
    42% 9 $2,025,000 $225,000 $5,819 5.00%
    47% 8 $1,970,000 $246,250 $5,131 4.83%
    43% 6 $1,070,000 $178,333 $2,902 5.25%
    48% 6 $1,310,000 $218,333 $5,866 5.40%
    49% 6 $1,290,000 $215,000 $4,993 5.75%
    36% 4 $1,000,000 $250,000 $5,399 4.78%
    50-60% 1 $25,000 $25,000 $953 2.90%

    Cu Mortgage Direct lent most frequently to those with DTI ratios of 20-30%, with 61 originations. The next most common DTI ratio? 30-36%, with 48 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 258 $52,840,000 $204,806 $4,243 4.71%
    Black 10 $2,200,000 $220,000 $4,720 5.33%
    Not provided 4 $860,000 $215,000 $5,350 3.75%
    Asian 1 $285,000 $285,000 $9,920 5.75%
    American Indian 1 $265,000 $265,000 $5,044 5.63%

    Approval Rates

    Total approvals of all applications
    88.87%

    Cu Mortgage Direct has an average approval rate.

    Pick Rate

    Approvals leading to origination
    64.60%

    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 274 $56,450,000 $206,022

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    274 $56,450,000 $206,022

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 23 $2,685,000 $116,739 $2,906 3.68%
    40-60% 25 $4,115,000 $164,600 $3,166 4.03%
    60-80% 78 $16,240,000 $208,205 $4,041 4.66%
    80-100% 140 $32,870,000 $234,786 $4,970 5.15%
    Over 100% 1 $295,000 $295,000 $10,723 5.13%
    Under 20% 7 $245,000 $35,000 $1,508 2.95%