Topline Federal Credit Union Mortgage Rates, Fees & Info
Maple Grove, MNLEI: 549300Z1TH1HE4A6TS23
Tax ID: 41-0415960
2021 Data | 2020 Data | 2019 Data | 2018 Data
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Mortgage 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
802Origination Dollar Volume (All Markets)
$194,540,000Relative 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 applications93.93%
Topline Federal Credit Union has an average approval rate.
Pick Rate
Approvals leading to origination86.04%
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% |
