Topline Federal Credit Union Mortgage Rates, Fees & Info

Maple Grove, MN

LEI: 549300Z1TH1HE4A6TS23

Tax ID: 41-0415960

5 stars

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

Review & Overview

Topline Federal Credit Union is a smaller credit union specializing in Refi, Cash Out Refi, and Home Purchase loans. Topline Federal Credit Union has a high proportion of conventional loans. Their top markets by origination volume include: Minneapolis, Brainerd, Faribault, Alexandria, and Duluth among others. We have data for 13 markets. (Some data included below & more in-depth data is available with an active subscription.)

Topline Federal 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. Topline Federal Credit Union is typically an average 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
30 Year Conventional Purchase	6.41%	3/19/23
30 Year Conventional Refi	6.33%	3/19/23
30 Year Cash-out Refi	6.59%	3/19/23
15 Year Conventional Purchase	5.70%	3/19/23
15 Year Conventional Refi	5.76%	3/19/23
15 Year Cash-out Refi	5.76%	3/19/23
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.

Originations

802

Origination Dollar Volume (All Markets)

$194,540,000

Relative Rate

Topline Federal Credit Union's average 30 year fixed mortgage rate was 3.03%.

The 2021 average 30 year fixed rate mortgage across all markets and lenders was 3.15%.

This yields a difference of -0.12%.

Relative Fees (Closing Costs)

Topline Federal Credit Union's average total fees/closing costs for a 30 year fixed rate mortgage were $3,811.

The average total origination fees for 30 year fixed rate mortgages across all lenders (for all loan values, including both points & up-front fees in addition to origination fees) were $4,750.

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
MINNEAPOLIS-ST. PAUL-BLOOMINGTON, MN-WI (FHA\|USDA\|VA)	750	$184,140,000	$245,520	$3,416	2.88%
Brainerd, MN (FHA\|USDA\|VA)	12	$3,990,000	$332,500	$4,287	2.75%
Outside of Metro Areas	16	$2,400,000	$150,000	$3,241	2.92%
Faribault-Northfield, MN (FHA\|USDA\|VA)	4	$920,000	$230,000	$2,992	3.17%
Alexandria, MN (FHA\|USDA\|VA)	3	$705,000	$235,000	$3,568	2.58%
DULUTH, MN-WI (FHA\|USDA\|VA)	4	$610,000	$152,500	$3,680	2.97%
Red Wing, MN (FHA\|USDA\|VA)	2	$340,000	$170,000	$2,712	2.38%
Willmar, MN (FHA\|USDA\|VA)	1	$315,000	$315,000	$4,249	2.63%
ST. CLOUD, MN (FHA\|USDA\|VA)	3	$315,000	$105,000	$3,441	2.88%
Marshall, MN (FHA\|USDA\|VA)	2	$280,000	$140,000	$3,253	3.44%
Hutchinson, MN (FHA\|USDA\|VA)	3	$245,000	$81,667	$1,574	3.45%
Bemidji, MN (FHA\|USDA\|VA)	1	$165,000	$165,000	$3,637	3.00%
Fergus Falls, MN (FHA\|USDA\|VA)	1	$115,000	$115,000	$3,124	3.25%

Topline Federal Credit Union's top markets include Minneapolis, Brainerd, Faribault, Alexandria, and Duluth among others.

Their top states include:

Minnesota (FHA|USDA|VA)

Similar Lenders

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

Farmers & Merchants Savings Bank
Similarity Rank: 720

Anoka Hennepin Credit Union
Similarity Rank: 826

MY Credit Union
Similarity Rank: 1200

Liberty Bank Minnesota
Similarity Rank: 1488

Bank Midwest
Similarity Rank: 1740

Cf Bank
Similarity Rank: 1953

LOANFLIGHT LENDING, LLC
Similarity Rank: 2080

Security Financial Bank
Similarity Rank: 2160

South Metro Federal Credit Union
Similarity Rank: 2443

TOPLINE FEDERAL CREDIT UNION
Similarity Rank: 2496

Product Mix

Loan Type	Originations	Total Value	Avg. Loan	Avg. Fees	Avg. Rate
Conventional	802	$194,540,000	$242,569	$3,418	2.88%

For 2021, Topline Federal Credit Union's most frequently originated type of loan was Conventional, with 802 originations.

Loan Reason

Loan Reason	Originations	Total Value	Avg. Loan	Avg. Fees	Avg. Rate
Refi	288	$66,460,000	$230,764	$2,970	2.61%
Cash Out Refi	277	$66,885,000	$241,462	$3,543	2.90%
Home Purchase	171	$52,505,000	$307,047	$4,492	2.98%
Other	42	$6,700,000	$159,524	$2,700	3.25%
Home Improvement	24	$1,990,000	$82,917	$937	4.53%

For 2021, Topline Federal Credit Union's most frequently cited loan purpose was Refi, with 288 originations. The 2nd most popular reason was Cash Out Refi, with 277 originations.

Loan Duration/Length

Loan Length	Originations	Total Value	Average Loan	Average Fees	Average Rate
30 Year	483	$129,895,000	$268,934	$3,811	3.03%
15 Year	193	$41,125,000	$213,083	$2,988	2.43%
20 Year	66	$15,720,000	$238,182	$3,247	2.70%
10 Year	46	$6,390,000	$138,913	$2,027	3.00%
5 Year	11	$315,000	$28,636	$195	4.89%
Other	3	$1,095,000	$365,000	$4,551	2.75%

For 2021, Topline Federal Credit Union's most frequently cited loan duration was 30 Year, with 483 originations. The 2nd most popular length was 15 Year, with 193 originations.

Origination Fees/Closing Costs

Origination Fee/Closing Cost	Originations	Total Value	Average Loan
$1k-2k	420	$75,530,000	$179,833
$2k-3k	212	$66,290,000	$312,689
$<1k	116	$23,890,000	$205,948
$3k-4k	32	$14,470,000	$452,188
$4k-5k	15	$9,595,000	$639,667
$5k+	7	$4,765,000	$680,714

Topline Federal Credit Union's average total fees were $3,811, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 420 originations.

Interest Rates

Loan Rate	Originations	Total Value	Average Loan
2.5-3%	318	$85,370,000	$268,459
<2.5%	249	$56,995,000	$228,896
3-4%	203	$49,715,000	$244,901
4-5%	24	$2,120,000	$88,333
5-6%	4	$230,000	$57,500
6-7%	2	$40,000	$20,000
7-8%	1	$35,000	$35,000
Over 8%	1	$35,000	$35,000

During 2021, Topline Federal Credit Union's average interest rate for loans was 3.03%, while their most frequently originated rate bucket for loans was 2.5-3%, with 318 originations.

Loan Sizing

Loan Size	Originations	Total Value	Average Loan	Average Fees	Average Rate
$200k-400k	358	$99,650,000	$278,352	$3,730	2.86%
$100k-200k	307	$48,245,000	$157,150	$2,896	2.77%
$400k-600k	61	$28,435,000	$466,148	$4,948	2.79%
$100,000 or less	57	$3,355,000	$58,860	$1,372	3.72%
$600k-1MM	18	$13,740,000	$763,333	$7,381	2.85%
$1MM+	1	$1,115,000	$1,115,000	$3,650	3.00%

2021 saw Topline Federal Credit Union place emphasis on $200k-400k loans with 358 originations, totaling $99,650,000 in origination value.

Applicant Income

Applicant Income	Originations	Total Value	Average Loan	Average Fees	Average Rate
$50k-75k	202	$38,770,000	$191,931	$3,200	2.96%
$100k-150k	184	$47,580,000	$258,587	$3,454	2.78%
$150k-250k	146	$44,260,000	$303,151	$3,745	2.83%
$75k-100k	139	$30,675,000	$220,683	$3,192	2.92%
$50k or less	83	$12,735,000	$153,434	$2,907	2.98%
$250k+	48	$20,520,000	$427,500	$4,730	2.84%

Topline Federal Credit Union lent most frequently to those with incomes in the $50k-75k range, with 202 originations. The second most popular income band? $100k-150k, with 184 originations.

Applicant Debt to Income Ratio

DTI Ratio	Originations	Total Value	Average Loan	Average Fees	Average Rate
20-30%	211	$52,215,000	$247,464	$3,372	2.79%
30-36%	148	$36,080,000	$243,784	$3,372	3.03%
<20%	131	$29,605,000	$225,992	$3,057	2.71%
36%	35	$7,865,000	$224,714	$3,239	3.02%
37%	32	$7,350,000	$229,688	$3,199	2.84%
38%	29	$7,715,000	$266,034	$3,774	3.01%
40%	28	$7,370,000	$263,214	$4,072	2.92%
42%	25	$5,965,000	$238,600	$3,914	2.89%
39%	24	$6,290,000	$262,083	$3,650	2.90%
41%	23	$5,655,000	$245,870	$3,261	2.86%
44%	22	$4,870,000	$221,364	$3,555	3.03%
43%	21	$6,135,000	$292,143	$3,743	3.08%
46%	19	$5,025,000	$264,474	$3,846	3.05%
45%	15	$3,565,000	$237,667	$3,745	2.99%
47%	15	$3,465,000	$231,000	$4,008	2.90%
49%	12	$2,540,000	$211,667	$3,446	2.74%
48%	11	$2,805,000	$255,000	$3,863	2.70%
>60%	1	$25,000	$25,000	$101	6.00%

Topline Federal Credit Union lent most frequently to those with DTI ratios of 20-30%, with 211 originations. The next most common DTI ratio? 30-36%, with 148 originations.

Ethnicity Mix

Applicant Ethnicity	Originations	Total Value	Average Loan	Average Fees	Average Rate
White	477	$112,295,000	$235,419	$3,364	2.91%
Not provided	230	$57,310,000	$249,174	$3,501	2.81%
Asian	51	$14,165,000	$277,745	$3,365	2.72%
Black	28	$6,110,000	$218,214	$3,375	3.26%
Asian Indian	11	$3,355,000	$305,000	$3,538	2.86%
American Indian	3	$945,000	$315,000	$6,461	3.42%
Other Asian	1	$215,000	$215,000	$3,948	3.13%
Vietnamese	1	$145,000	$145,000	$2,639	2.50%

Approval Rates

Total approvals of all applications
98.05%

Topline Federal 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
80.67%

Topline Federal Credit Union has a below average pick rate.

Points and Fees

Points	Originations	Total Value	Average Loan
NA	802	$194,540,000	$242,569

Occupancy Type Mix

Dwelling Type	Originations	Total Value	Average Loan
	802	$194,540,000	$242,569

LTV Distribution

Loan to Value	Originations	Total Value	Average Loan	Average Fees	Average Rate
20-40%	59	$6,985,000	$118,390	$2,406	2.70%
40-60%	179	$34,465,000	$192,542	$2,929	2.58%
60-80%	372	$101,080,000	$271,720	$3,690	2.88%
80-100%	165	$50,555,000	$306,394	$4,193	2.95%
Under 20%	25	$835,000	$33,400	$191	5.04%