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
  • 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

    Greenstate Credit Union is a small credit union specializing in Home Purchase and Cash Out Refi 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: Des Moines, Iowa City, Cedar Rapids, Davenport, and Waterloo among others. We have data for 35 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

    12,881

    Origination Dollar Volume (All Markets)

    $1,989,055,000
    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
    DES MOINES-WEST DES MOINES, IA (FHA|USDA|VA) 2,869 $550,165,000 $191,762 $1,586 4.31%
    IOWA CITY, IA (FHA|USDA|VA) 2,911 $485,445,000 $166,762 $1,334 4.28%
    CEDAR RAPIDS, IA (FHA|USDA|VA) 3,049 $386,555,000 $126,781 $1,440 4.42%
    DAVENPORT-MOLINE-ROCK ISLAND, IA-IL (FHA|USDA|VA) 1,110 $171,850,000 $154,820 $1,550 4.34%
    WATERLOO-CEDAR FALLS, IA (FHA|USDA|VA) 1,263 $165,835,000 $131,302 $1,673 4.47%
    Outside of Metro Areas 1,111 $116,035,000 $104,442 $1,520 4.58%
    AMES, IA (FHA|USDA|VA) 97 $39,135,000 $403,454 $1,331 4.64%
    Muscatine, IA (FHA|USDA|VA) 103 $12,085,000 $117,330 $1,544 4.40%
    DUBUQUE, IA (FHA|USDA|VA) 69 $8,805,000 $127,609 $1,616 4.26%
    WAUSAU-WESTON, WI (FHA|USDA|VA) 1 $8,805,000 $8,805,000 $0 4.25%
    Stevens Point, WI (FHA|USDA|VA) 1 $8,595,000 $8,595,000 $0 4.00%
    Chicago-Naperville-Elgin, IL-IN-WI (FHA|USDA|VA) 29 $6,395,000 $220,517 $2,878 4.30%
    Clinton, IA (FHA|USDA|VA) 49 $5,095,000 $103,980 $1,586 4.43%
    Mason City, IA (FHA|USDA|VA) 21 $4,235,000 $201,667 $1,953 3.65%
    Pella, IA (FHA|USDA|VA) 26 $3,750,000 $144,231 $1,367 4.49%
    Burlington, IA-IL (FHA|USDA|VA) 29 $3,595,000 $123,966 $1,462 4.32%
    Marshalltown, IA (FHA|USDA|VA) 38 $3,080,000 $81,053 $1,447 4.74%
    OMAHA-COUNCIL BLUFFS, NE-IA (FHA|USDA|VA) 9 $1,495,000 $166,111 $1,622 4.18%
    Oskaloosa, IA (FHA|USDA|VA) 13 $1,205,000 $92,692 $1,172 5.00%
    Ottumwa, IA (FHA|USDA|VA) 8 $940,000 $117,500 $1,637 4.75%
    Galesburg, IL (FHA|USDA|VA) 23 $925,000 $40,217 $1,080 5.10%
    Fort Madison-Keokuk, IA-IL-MO (FHA|USDA|VA) 9 $915,000 $101,667 $1,815 4.42%
    Carroll, IA (FHA|USDA|VA) 6 $600,000 $100,000 $1,408 4.43%
    SIOUX CITY, IA-NE-SD (FHA|USDA|VA) 5 $575,000 $115,000 $1,253 4.97%
    Sterling, IL (FHA|USDA|VA) 3 $565,000 $188,333 $1,826 3.58%
    Spirit Lake, IA (FHA|USDA|VA) 2 $550,000 $275,000 $1,877 4.51%
    Fort Dodge, IA (FHA|USDA|VA) 10 $460,000 $46,000 $1,026 5.26%
    ST. LOUIS, MO-IL (FHA|USDA|VA) 3 $435,000 $145,000 $2,058 3.83%
    Fairfield, IA (FHA|USDA|VA) 3 $325,000 $108,333 $1,472 4.17%
    Storm Lake, IA (FHA|USDA|VA) 2 $180,000 $90,000 $2,157 3.81%
    Ottawa, IL (FHA|USDA|VA) 3 $155,000 $51,667 $1,222 5.71%
    BLOOMINGTON, IL (FHA|USDA|VA) 2 $80,000 $40,000 $1,004 5.13%
    Spencer, IA (FHA|USDA|VA) 2 $80,000 $40,000 $0 5.04%
    Kirksville, MO (FHA|USDA|VA) 1 $65,000 $65,000 $0 4.50%
    Macomb, IL (FHA|USDA|VA) 1 $45,000 $45,000 $2,071 3.50%
    Greenstate Credit Union's top markets include Des Moines, Iowa City, Cedar Rapids, Davenport, and Waterloo among others.

    Their top states include:
  • Iowa (FHA|USDA|VA)
  • Illinois (FHA|USDA|VA)
  • Wisconsin (FHA|USDA|VA)
  • Florida (FHA|USDA|VA)
  • Missouri (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.

    FINANCIAL PLUS Credit Union
    Similarity Rank: 63
    United Bank of Iowa
    Similarity Rank: 70
    Liberty Bank for Savings
    Similarity Rank: 85
    Raccoon Valley Bank
    Similarity Rank: 145
    FIRST
    Similarity Rank: 154
    First Mid Bank & Trust
    Similarity Rank: 180
    THE FAMILY CREDIT UNION
    Similarity Rank: 217
    Community Choice Credit Union
    Similarity Rank: 255
    Hills Bank and Trust Company
    Similarity Rank: 273
    Luana Savings Bank
    Similarity Rank: 322

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 10,290 $1,769,790,000 $171,991 $1,409 4.36%
    HELOC 2,293 $149,295,000 $65,109 n/a 4.61%
    VA 252 $62,450,000 $247,817 $4,386 3.32%
    USDA 46 $7,520,000 $163,478 $3,596 3.33%

    For 2019, Greenstate Credit Union's most frequently originated type of loan was Conventional, with 10,290 originations. Their 2nd most popular type was HELOC, with 2,293 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 6,529 $1,071,145,000 $164,060 $1,545 4.45%
    Cash Out Refi 3,096 $589,370,000 $190,365 $1,431 4.09%
    Refi 1,514 $232,700,000 $153,699 $1,345 4.20%
    Home Improvement 1,444 $77,690,000 $53,802 $0 4.66%
    Other 294 $17,870,000 $60,782 $0 5.33%
    NA 4 $280,000 $70,000 $0 5.50%

    For 2019, Greenstate Credit Union's most frequently cited loan purpose was Home Purchase, with 6,529 originations. The 2nd most popular reason was Cash Out Refi, with 3,096 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 6,227 $1,330,065,000 $213,596 $1,914 4.11%
    Other 2,003 $131,695,000 $65,749 $316 4.55%
    15 Year 1,912 $278,580,000 $145,701 $969 4.11%
    10 Year 1,590 $112,690,000 $70,874 $214 5.24%
    5 Year 973 $101,735,000 $104,558 $200 4.97%
    20 Year 139 $30,135,000 $216,799 $1,601 3.64%
    1 Year 37 $4,155,000 $112,297 $0 5.36%

    For 2019, Greenstate Credit Union's most frequently cited loan duration was 30 Year, with 6,227 originations. The 2nd most popular length was Other, with 2,003 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 9,871 $1,600,325,000 $162,124
    $1k-2k 324 $91,260,000 $281,667
    $2k-3k 37 $12,065,000 $326,081
    $3k-4k 13 $4,635,000 $356,538
    $4k-5k 5 $2,175,000 $435,000
    $5k+ 4 $2,420,000 $605,000

    Greenstate Credit Union's average total fees were $1,914, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 9,871 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    4-5% 5,196 $703,990,000 $135,487
    3-4% 4,699 $995,745,000 $211,906
    5-6% 1,905 $127,385,000 $66,869
    2.5-3% 584 $141,160,000 $241,712
    6-7% 380 $15,720,000 $41,368
    7-8% 96 $3,820,000 $39,792
    Over 8% 21 $1,235,000 $58,810

    During 2019, Greenstate Credit Union's average interest rate for loans was 4.11%, while their most frequently originated rate bucket for loans was 4-5%, with 5,196 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 5,570 $229,640,000 $41,228 $631 4.91%
    $100k-200k 3,549 $522,555,000 $147,240 $1,729 4.15%
    $200k-400k 3,181 $861,605,000 $270,860 $1,924 3.82%
    $400k-600k 526 $240,870,000 $457,928 $1,981 3.74%
    $1MM+ 32 $117,170,000 $3,661,563 $160 4.27%
    $600k-1MM 23 $17,215,000 $748,478 $1,114 4.29%

    2019 saw Greenstate Credit Union place emphasis on $100,000 or less loans with 5,570 originations, totaling $229,640,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 3,027 $506,255,000 $167,246 $1,584 4.27%
    $50k-75k 2,967 $323,555,000 $109,051 $1,477 4.50%
    $75k-100k 2,438 $331,270,000 $135,878 $1,603 4.42%
    $50k or less 1,829 $144,065,000 $78,767 $1,374 4.56%
    $150k-250k 1,756 $366,470,000 $208,696 $1,463 4.16%
    $250k+ 604 $186,920,000 $309,470 $1,298 3.98%

    Greenstate Credit Union lent most frequently to those with incomes in the $100k-150k range, with 3,027 originations. The second most popular income band? $50k-75k, with 2,967 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    <20% 4,688 $780,820,000 $166,557 $1,676 4.06%
    20-30% 3,381 $536,775,000 $158,762 $1,487 4.29%
    30-36% 1,641 $205,685,000 $125,341 $1,263 4.61%
    50-60% 263 $21,165,000 $80,475 $724 5.06%
    40% 240 $29,150,000 $121,458 $1,388 4.79%
    39% 239 $28,405,000 $118,849 $1,434 4.77%
    37% 228 $25,730,000 $112,851 $1,178 4.79%
    38% 226 $27,690,000 $122,522 $1,432 4.70%
    36% 223 $27,545,000 $123,520 $1,181 4.84%
    41% 202 $22,740,000 $112,574 $1,302 4.77%
    42% 189 $22,395,000 $118,492 $1,446 4.86%
    44% 178 $19,650,000 $110,393 $1,274 4.89%
    43% 177 $21,685,000 $122,514 $1,577 4.78%
    45% 142 $18,840,000 $132,676 $1,602 4.76%
    47% 124 $13,160,000 $106,129 $1,404 4.74%
    46% 122 $14,820,000 $121,475 $1,507 4.68%
    48% 111 $14,025,000 $126,351 $1,611 4.70%
    >60% 95 $7,205,000 $75,842 $398 4.98%
    49% 81 $11,635,000 $143,642 $2,333 4.80%

    Greenstate Credit Union lent most frequently to those with DTI ratios of <20%, with 4,688 originations. The next most common DTI ratio? 20-30%, with 3,381 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 11,116 $1,626,850,000 $146,352 $1,497 4.37%
    Not provided 904 $132,060,000 $146,084 $1,546 4.43%
    Not applicable 255 $130,105,000 $510,216 $0 4.97%
    Asian 331 $69,395,000 $209,653 $1,577 3.89%
    Black 236 $25,900,000 $109,746 $1,387 4.82%
    American Indian 28 $2,880,000 $102,857 $1,773 4.87%
    Native Hawaiian or Islander 6 $830,000 $138,333 $1,173 4.52%
    Asian Indian 2 $640,000 $320,000 $1,611 3.56%
    Vietnamese 1 $215,000 $215,000 $1,702 4.00%
    Korean 1 $125,000 $125,000 $1,693 4.25%
    Guamanian 1 $55,000 $55,000 $0 5.50%

    Approval Rates

    Total approvals of all applications
    98.20%

    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
    80.26%

    Greenstate Credit Union has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    0.0 693 $36,545,000 $52,734
    NA 12,188 $1,952,510,000 $160,199

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Site-Built 27 $93,825,000 $3,475,000
    Single Family (1-4 Units):Site-Built 12,854 $1,895,230,000 $147,443

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 1,413 $126,755,000 $89,706 $753 4.65%
    40-60% 825 $152,685,000 $185,073 $1,445 4.00%
    60-80% 2,689 $648,365,000 $241,118 $1,601 3.89%
    80-100% 4,436 $936,330,000 $211,075 $1,971 4.18%
    Over 100% 76 $18,000,000 $236,842 $6,977 3.85%
    Under 20% 3,442 $106,920,000 $31,063 $198 5.00%

    Complaints

    Bank Name Product Issue 2019 CPFB Complaints % of Total Issues
    GreenSky, LLC Other type of mortgage Applying for a mortgage or refinancing an existing mortgage 1 100.0%