Topline Federal Credit Union Mortgage Rates, Fees & Info

Maple Grove, MN

LEI: 549300Z1TH1HE4A6TS23

Tax ID: 41-0415960

5 stars - out of 5 stars, based on 28 reviews

2021 Data | 2020 Data | 2019 Data | 2018 Data


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 include Minneapolis, Brainerd, Faribault, Alexandria, and Duluth among others. Topline Federal Credit Union has an above average approval rate for mortages when compared nationally. They have a below average pick rate when compared to the same sample of other lendors. Topline Federal Credit Union is typically an average fee lendor.


Originations

802

Origination Dollar Volume (All Markets)

$194,540,000

Relative Rate

Topline Federal Credit Union's average 30 year fixed rate mortgage of loans were 3.03%.

The 2021 average 30 year fixed rate mortgage across all markets of loans were 3.15%.

This yields a difference of -0.12%.

Relative Fees

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

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

Top Markets

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.

Product Mix

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

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

Loan Reason

Loan Reason Originations Total Value Average Loan Average Fees Average 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 the 2021, Topline Federal Credit Union's most frequently cited loan purpose of loans were Refi, with 288 originations. The 2nd most popular reason of loans were 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 the 2021, Topline Federal Credit Union's most frequently cited loan length of loans were 30 Year, with 483 originations. The 2nd most popular length of loans were 15 Year, with 193 originations.

Origination Fees

Origination Fee 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 47 $24,065,000 $512,021
$5k+ 7 $4,765,000 $680,714

$3,811 of loans were Topline Federal Credit Union's average total fees, while their most frequently occuring range of origination fees 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 of loans were 3.03%, while their most frequently originated rate bucket of loans were 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
93.93%

Topline Federal Credit Union has an average approval rate.

Pick Rate

Approvals leading to origination
86.04%

Topline Federal Credit Union has an 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%