Greenstate Credit Union Mortgage Rates, Fees & Info

North Liberty, IA

LEI: 549300W4FT4H1UWPGU95

Tax ID: 42-0804594

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
  • 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

    Greenstate Credit Union is a small credit union specializing in Home Purchase loans. Greenstate Credit Union has a high proportion of conventional loans. They have a low ratio of USDA loans. Their top markets by origination volume include: Iowa City, Des Moines, Cedar Rapids, Waterloo, and Davenport among others. We have data for 29 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Greenstate Credit Union 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. Greenstate Credit Union 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.

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    SimulatedRates™

    Mortgage Type     		Simulated Rate Simulation Date
    Home Equity Line of Credit (HELOC) 6.27% 11/17/24
    30 Year Conventional Purchase 6.50% 11/17/24
    30 Year Conventional Refi 6.47% 11/17/24
    30 Year Cash-out Refi 6.71% 11/17/24
    30 Year FHA Purchase 6.98% 11/17/24
    30 Year FHA Refi 6.27% 11/17/24
    30 Year VA Purchase 5.88% 11/17/24
    30 Year USDA Purchase 6.01% 11/17/24
    15 Year Conventional Purchase 6.58% 11/17/24
    15 Year Conventional Refi 6.34% 11/17/24
    15 Year Cash-out Refi 6.34% 11/17/24
    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.

    Greenstate Credit Union Mortgage Calculator






    Your Estimates

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

    This is not an official calculator from Greenstate Credit Union. 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

    12,045

    Origination Dollar Volume (All Markets)

    $1,581,675,000
    Show all (25) 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
    IOWA CITY, IA (FHA|USDA|VA) 2,817 $424,295,000 $150,619 $1,235 4.46%
    DES MOINES-WEST DES MOINES, IA (FHA|USDA|VA) 2,434 $402,440,000 $165,341 $1,456 4.70%
    CEDAR RAPIDS, IA (FHA|USDA|VA) 2,938 $328,260,000 $111,729 $1,343 4.69%
    WATERLOO-CEDAR FALLS, IA (FHA|USDA|VA) 1,355 $158,745,000 $117,155 $1,379 4.76%
    DAVENPORT-MOLINE-ROCK ISLAND, IA-IL (FHA|USDA|VA) 933 $114,305,000 $122,513 $1,270 4.77%
    Outside of Metro Areas 1,078 $104,560,000 $96,994 $1,358 4.71%
    AMES, IA (FHA|USDA|VA) 80 $9,920,000 $124,000 $1,185 4.79%
    Muscatine, IA (FHA|USDA|VA) 99 $8,195,000 $82,778 $1,280 4.66%
    Clinton, IA (FHA|USDA|VA) 48 $3,910,000 $81,458 $1,177 4.91%
    Chicago-Naperville-Elgin, IL-IN-WI (FHA|USDA|VA) 18 $3,860,000 $214,444 $2,980 4.46%
    Pella, IA (FHA|USDA|VA) 22 $3,310,000 $150,455 $1,689 4.70%
    DUBUQUE, IA (FHA|USDA|VA) 27 $3,305,000 $122,407 $1,123 4.90%
    Burlington, IA-IL (FHA|USDA|VA) 34 $2,780,000 $81,765 $1,203 4.81%
    Marshalltown, IA (FHA|USDA|VA) 38 $2,690,000 $70,789 $1,104 4.76%
    Mason City, IA (FHA|USDA|VA) 19 $2,115,000 $111,316 $2,210 4.73%
    Oskaloosa, IA (FHA|USDA|VA) 19 $1,285,000 $67,632 $1,198 4.99%
    SIOUX CITY, IA-NE-SD (FHA|USDA|VA) 9 $1,245,000 $138,333 $1,382 4.90%
    Spirit Lake, IA (FHA|USDA|VA) 7 $1,225,000 $175,000 $1,622 4.20%
    Ottumwa, IA (FHA|USDA|VA) 10 $830,000 $83,000 $1,109 4.38%
    Galesburg, IL (FHA|USDA|VA) 18 $750,000 $41,667 $1,025 5.05%
    Sterling, IL (FHA|USDA|VA) 10 $720,000 $72,000 $950 5.00%
    OMAHA-COUNCIL BLUFFS, NE-IA (FHA|USDA|VA) 4 $630,000 $157,500 $1,225 4.88%
    Fairfield, IA (FHA|USDA|VA) 8 $610,000 $76,250 $1,663 4.64%
    Fort Madison-Keokuk, IA-IL-MO (FHA|USDA|VA) 11 $535,000 $48,636 $1,181 4.98%
    ROCKFORD, IL (FHA|USDA|VA) 1 $435,000 $435,000 $2,288 3.50%
    Fort Dodge, IA (FHA|USDA|VA) 3 $245,000 $81,667 $846 4.60%
    SPRINGFIELD, IL (FHA|USDA|VA) 2 $210,000 $105,000 $1,111 4.00%
    Carroll, IA (FHA|USDA|VA) 1 $205,000 $205,000 $2,075 4.38%
    Freeport, IL (FHA|USDA|VA) 2 $60,000 $30,000 $1,163 5.63%
    Greenstate Credit Union's top markets include Iowa City, Des Moines, Cedar Rapids, Waterloo, and Davenport among others.

    Their top states include:
  • Iowa (FHA|USDA|VA)
  • Illinois (FHA|USDA|VA)

    • Similar Lenders

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

    UNITED
    Similarity Rank: 28
    Charter Bank
    Similarity Rank: 36
    Citizens State Bank
    Similarity Rank: 68
    Farmers Savings Bank & Trust
    Similarity Rank: 76
    Fidelity Bank & Trust
    Similarity Rank: 84
    First Mid Bank & Trust
    Similarity Rank: 87
    Manufacturers Bank & Trust Company
    Similarity Rank: 96
    Raccoon Valley Bank
    Similarity Rank: 96
    Liberty Bank for Savings
    Similarity Rank: 104
    FIRST
    Similarity Rank: 117

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 9,395 $1,410,095,000 $150,090 $1,266 4.69%
    HELOC 2,447 $128,215,000 $52,397 n/a 4.56%
    VA 155 $36,255,000 $233,903 $4,788 3.91%
    USDA 48 $7,110,000 $148,125 $3,278 4.03%

    For 2018, Greenstate Credit Union's most frequently originated type of loan was Conventional, with 9,395 originations. Their 2nd most popular type was HELOC, with 2,447 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 7,203 $1,022,485,000 $141,953 $1,344 4.66%
    Cash Out Refi 1,767 $290,245,000 $164,259 $1,345 4.55%
    Home Improvement 1,318 $62,990,000 $47,792 $0 4.63%
    Refi 993 $166,355,000 $167,528 $1,356 4.73%
    Other 751 $38,485,000 $51,245 $0 4.80%
    NA 13 $1,115,000 $85,769 $1,085 4.60%

    For 2018, Greenstate Credit Union's most frequently cited loan purpose was Home Purchase, with 7,203 originations. The 2nd most popular reason was Cash Out Refi, with 1,767 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 5,320 $1,032,020,000 $193,989 $1,833 4.47%
    5 Year 2,392 $172,690,000 $72,195 $200 4.55%
    10 Year 1,682 $100,040,000 $59,477 $203 5.15%
    Other 1,290 $129,930,000 $100,721 $215 4.64%
    15 Year 1,244 $123,480,000 $99,260 $789 5.01%
    20 Year 106 $20,780,000 $196,038 $1,605 4.26%
    1 Year 11 $2,735,000 $248,636 $200 4.79%

    For 2018, Greenstate Credit Union's most frequently cited loan duration was 30 Year, with 5,320 originations. The 2nd most popular length was 5 Year, with 2,392 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 9,071 $1,265,105,000 $139,467
    $1k-2k 185 $46,565,000 $251,703
    $2k-3k 24 $5,920,000 $246,667
    $3k-4k 8 $2,930,000 $366,250
    $5k+ 3 $1,125,000 $375,000
    $4k-5k 1 $245,000 $245,000

    Greenstate Credit Union's average total fees were $1,833, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 9,071 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    4-5% 6,446 $973,640,000 $151,046
    5-6% 2,597 $166,345,000 $64,053
    3-4% 2,470 $417,700,000 $169,109
    6-7% 426 $17,840,000 $41,878
    7-8% 99 $3,985,000 $40,253
    2.5-3% 4 $2,100,000 $525,000
    Over 8% 3 $65,000 $21,667

    During 2018, Greenstate Credit Union's average interest rate for loans was 4.47%, while their most frequently originated rate bucket for loans was 4-5%, with 6,446 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 6,161 $229,205,000 $37,203 $567 4.91%
    $100k-200k 3,214 $466,620,000 $145,184 $1,708 4.45%
    $200k-400k 2,276 $608,820,000 $267,496 $1,927 4.33%
    $400k-600k 326 $149,730,000 $459,294 $1,926 4.18%
    $1MM+ 40 $106,260,000 $2,656,500 $1,096 4.40%
    $600k-1MM 28 $21,040,000 $751,429 $200 3.95%

    2018 saw Greenstate Credit Union place emphasis on $100,000 or less loans with 6,161 originations, totaling $229,205,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 2,887 $291,455,000 $100,954 $1,298 4.71%
    $100k-150k 2,784 $395,730,000 $142,144 $1,434 4.62%
    $75k-100k 2,400 $285,690,000 $119,038 $1,372 4.66%
    $50k or less 1,999 $142,475,000 $71,273 $1,243 4.79%
    $150k-250k 1,307 $233,125,000 $178,366 $1,411 4.51%
    $250k+ 471 $130,115,000 $276,253 $1,317 4.37%

    Greenstate Credit Union lent most frequently to those with incomes in the $50k-75k range, with 2,887 originations. The second most popular income band? $100k-150k, with 2,784 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 2,859 $344,115,000 $120,362 $1,304 4.59%
    30-36% 2,434 $295,530,000 $121,417 $1,264 4.69%
    <20% 943 $109,005,000 $115,594 $1,353 4.41%
    37% 497 $63,555,000 $127,877 $1,365 4.71%
    39% 470 $59,010,000 $125,553 $1,300 4.71%
    36% 448 $55,570,000 $124,040 $1,262 4.76%
    38% 445 $56,755,000 $127,539 $1,374 4.71%
    42% 435 $58,585,000 $134,678 $1,495 4.67%
    41% 429 $54,265,000 $126,492 $1,343 4.72%
    44% 428 $54,460,000 $127,243 $1,387 4.77%
    40% 412 $51,890,000 $125,947 $1,359 4.75%
    43% 411 $52,665,000 $128,139 $1,390 4.71%
    50-60% 361 $41,085,000 $113,809 $1,417 4.79%
    45% 337 $49,145,000 $145,831 $1,529 4.58%
    46% 224 $33,910,000 $151,384 $1,585 4.65%
    48% 178 $24,540,000 $137,865 $1,472 4.78%
    47% 174 $24,290,000 $139,598 $1,554 4.65%
    49% 164 $24,340,000 $148,415 $1,631 4.60%
    >60% 150 $13,130,000 $87,533 $785 4.83%

    Greenstate Credit Union lent most frequently to those with DTI ratios of 20-30%, with 2,859 originations. The next most common DTI ratio? 30-36%, with 2,434 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 9,299 $1,220,935,000 $131,297 $1,345 4.64%
    Not provided 2,024 $182,590,000 $90,212 $1,373 4.75%
    Not applicable 194 $102,900,000 $530,412 $0 4.67%
    Asian 287 $50,295,000 $175,244 $1,379 4.41%
    Black 205 $19,695,000 $96,073 $1,146 4.90%
    American Indian 26 $3,580,000 $137,692 $1,115 4.65%
    Chinese 2 $450,000 $225,000 $1,925 3.69%
    Asian Indian 2 $440,000 $220,000 $1,675 4.00%
    Other Asian 2 $320,000 $160,000 $1,672 4.50%
    Filipino 1 $245,000 $245,000 $2,634 4.38%
    Native Hawaiian or Islander 3 $225,000 $75,000 $0 4.79%

    Approval Rates

    Total approvals of all applications
    98.60%

    Greenstate Credit Union has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.

    Pick Rate

    Approvals leading to origination
    79.07%

    Greenstate Credit Union has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 12,045 $1,581,675,000 $131,314

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Site-Built 27 $68,605,000 $2,540,926
    Single Family (1-4 Units):Site-Built 12,018 $1,513,070,000 $125,900

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 1,226 $94,630,000 $77,186 $844 4.71%
    40-60% 558 $89,810,000 $160,950 $1,481 4.35%
    60-80% 1,668 $347,780,000 $208,501 $1,658 4.41%
    80-100% 4,404 $903,110,000 $205,066 $1,841 4.45%
    Over 100% 60 $28,640,000 $477,333 $7,770 3.91%
    Under 20% 4,128 $116,290,000 $28,171 $196 5.00%