Topline Federal Credit Union Mortgage Rates, Fees & Info
Maple Grove, MNLEI: 549300Z1TH1HE4A6TS23
Tax ID: 41-0415960
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Mortgage 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 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.
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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| Home Equity Line of Credit (HELOC) | 6.16% | 4/28/24 |
| 30 Year Conventional Purchase | 6.24% | 4/28/24 |
| 30 Year Conventional Refi | 6.48% | 4/28/24 |
| 30 Year Cash-out Refi | 6.66% | 4/28/24 |
| 15 Year Conventional Purchase | 5.75% | 4/28/24 |
| 15 Year Conventional Refi | 5.92% | 4/28/24 |
| 15 Year Cash-out Refi | 5.92% | 4/28/24 |
| 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. | ||
Topline Federal Credit Union Mortgage Calculator
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
802Origination Dollar Volume (All Markets)
$194,540,000Top 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% |
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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
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
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
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
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
2021 saw Topline Federal Credit Union place emphasis on $200k-400k loans with 358 originations, totaling $99,650,000 in origination value.
Applicant Income
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
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
Approval Rates
Total approvals of all applications98.05%
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 origination80.67%
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 |