Three Rivers Federal Credit Union Mortgage Rates, Fees & Info

Fort Wayne, IN

LEI: 549300ZBBGOL4MIK0L71

Tax ID: 35-0885395

5 stars - out of 5 stars, based on 65 reviews

2021 Data | 2020 Data | 2019 Data | 2018 Data


Overview

Three Rivers Federal Credit Union is a small credit union specializing in Refi loans. Three Rivers Federal Credit Union has a high proportion of conventional loans. They have a a low proportion of FHA loans. (This may mean they shy away from first time homebuyers.) Their top markets include Fort Wayne, Richmond, Warsaw, Huntington, and Auburn among others. Three Rivers 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. Three Rivers Federal Credit Union is typically a low fee lendor.


Originations

4,266

Origination Dollar Volume (All Markets)

$1,911,840,000
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Relative Rate

Three Rivers Federal Credit Union's average 30 year fixed rate mortgage of loans were 3.28%.

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

This yields a difference of 0.13%.

Relative Fees

Three Rivers Federal Credit Union's average total fees for a 30 year fixed rate mortgage are $2,446.

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
FORT WAYNE, IN (FHA|USDA|VA) 2,822 $1,088,440,000 $385,698 $2,289 3.37%
Richmond, IN (FHA|USDA|VA) 195 $342,355,000 $1,755,667 $2,414 3.43%
Warsaw, IN (FHA|USDA|VA) 48 $219,340,000 $4,569,583 $2,656 3.22%
Huntington, IN (FHA|USDA|VA) 60 $73,450,000 $1,224,167 $2,416 3.44%
Auburn, IN (FHA|USDA|VA) 203 $33,955,000 $167,266 $2,514 3.35%
Bluffton, IN (FHA|USDA|VA) 170 $24,270,000 $142,765 $2,387 3.42%
Angola, IN (FHA|USDA|VA) 104 $23,340,000 $224,423 $2,630 3.29%
Kendallville, IN (FHA|USDA|VA) 145 $22,115,000 $152,517 $2,418 3.24%
Outside of Metro Areas 115 $20,165,000 $175,348 $2,836 3.37%
Decatur, IN (FHA|USDA|VA) 76 $12,230,000 $160,921 $2,512 3.19%
INDIANAPOLIS-CARMEL-ANDERSON, IN (FHA|USDA|VA) 51 $11,625,000 $227,941 $2,737 3.35%
Wapakoneta, OH (FHA|USDA|VA) 69 $6,885,000 $99,783 $3,002 3.33%
CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) 9 $4,045,000 $449,444 $5,142 2.72%
Van Wert, OH (FHA|USDA|VA) 32 $3,540,000 $110,625 $3,105 3.55%
CINCINNATI, OH-KY-IN (FHA|USDA|VA) 28 $3,110,000 $111,071 $3,132 3.25%
Celina, OH (FHA|USDA|VA) 16 $1,770,000 $110,625 $3,064 3.27%
Defiance, OH (FHA|USDA|VA) 11 $1,475,000 $134,091 $3,123 3.59%
Wabash, IN (FHA|USDA|VA) 7 $1,385,000 $197,857 $2,620 3.04%
North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) 4 $1,260,000 $315,000 $4,152 2.75%
ELKHART-GOSHEN, IN (FHA|USDA|VA) 8 $1,140,000 $142,500 $2,605 3.41%
Connersville, IN (FHA|USDA|VA) 10 $820,000 $82,000 $2,790 3.44%
NAPLES-MARCO ISLAND, FL (FHA|USDA|VA) 2 $810,000 $405,000 $4,355 2.75%
TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) 3 $805,000 $268,333 $3,962 3.00%
NILES, MI (FHA|USDA|VA) 3 $755,000 $251,667 $3,441 3.08%
Plymouth, IN (FHA|USDA|VA) 3 $745,000 $248,333 $2,457 3.75%
MICHIGAN CITY-LA PORTE, IN (FHA|USDA|VA) 4 $740,000 $185,000 $2,379 3.13%
TOLEDO, OH (FHA|USDA|VA) 5 $735,000 $147,000 $5,111 3.63%
New Castle, IN (FHA|USDA|VA) 6 $730,000 $121,667 $2,390 3.73%
Chicago-Naperville-Elgin, IL-IN-WI (FHA|USDA|VA) 3 $725,000 $241,667 $2,652 2.92%
SOUTH BEND-MISHAWAKA, IN-MI (FHA|USDA|VA) 4 $700,000 $175,000 $2,565 3.00%
Sidney, OH (FHA|USDA|VA) 5 $665,000 $133,000 $3,544 3.15%
PUNTA GORDA, FL (FHA|USDA|VA) 3 $645,000 $215,000 $3,769 3.00%
TERRE HAUTE, IN (FHA|USDA|VA) 3 $585,000 $195,000 $2,617 2.46%
MUNCIE, IN (FHA|USDA|VA) 5 $555,000 $111,000 $2,434 3.65%
Marion, IN (FHA|USDA|VA) 3 $535,000 $178,333 $2,190 4.08%
Key West, FL (FHA|USDA|VA) 1 $465,000 $465,000 $5,459 2.50%
BATTLE CREEK, MI (FHA|USDA|VA) 3 $395,000 $131,667 $2,485 3.33%
Adrian, MI (FHA|USDA|VA) 1 $385,000 $385,000 $3,264 3.50%
Sturgis, MI (FHA|USDA|VA) 2 $380,000 $190,000 $3,222 3.25%
Ludington, MI (FHA|USDA|VA) 1 $315,000 $315,000 $2,933 2.38%
HOMOSASSA SPRINGS, FL (FHA|USDA|VA) 1 $285,000 $285,000 $4,745 4.00%
LIMA, OH (FHA|USDA|VA) 1 $275,000 $275,000 $3,793 3.75%
PANAMA CITY, FL (FHA|USDA|VA) 1 $275,000 $275,000 $3,255 2.75%
COLUMBUS, OH (FHA|USDA|VA) 1 $265,000 $265,000 $2,646 3.25%
Peru, IN (FHA|USDA|VA) 2 $220,000 $110,000 $2,215 2.63%
KALAMAZOO-PORTAGE, MI (FHA|USDA|VA) 1 $215,000 $215,000 $2,497 2.38%
KOKOMO, IN (FHA|USDA|VA) 2 $210,000 $105,000 $2,528 3.44%
Urbana, OH (FHA|USDA|VA) 1 $205,000 $205,000 $4,986 3.13%
AKRON, OH (FHA|USDA|VA) 1 $185,000 $185,000 $4,126 3.00%
Traverse City, MI (FHA|USDA|VA) 1 $165,000 $165,000 $2,847 2.25%
DAYTON-KETTERING, OH (FHA|USDA|VA) 1 $155,000 $155,000 $3,570 3.13%
Wooster, OH (FHA|USDA|VA) 1 $155,000 $155,000 $2,755 2.50%
SAGINAW, MI (FHA|USDA|VA) 1 $145,000 $145,000 $2,693 3.38%
BLOOMINGTON, IN (FHA|USDA|VA) 1 $145,000 $145,000 $2,411 3.25%
Bedford, IN (FHA|USDA|VA) 1 $135,000 $135,000 $2,231 3.50%
Greenville, OH (FHA|USDA|VA) 1 $115,000 $115,000 $3,279 2.88%
Detroit-Warren-Dearborn, MI (FHA|USDA|VA) 1 $95,000 $95,000 $2,524 3.00%
Frankfort, IN (FHA|USDA|VA) 1 $85,000 $85,000 $1,993 3.00%
Bellefontaine, OH (FHA|USDA|VA) 1 $65,000 $65,000 $2,704 2.38%
ANN ARBOR, MI (FHA|USDA|VA) 1 $45,000 $45,000 $124 3.99%
EVANSVILLE, IN-KY (FHA|USDA|VA) 1 $15,000 $15,000 $0 4.50%

Three Rivers Federal Credit Union's top markets include Fort Wayne, Richmond, Warsaw, Huntington, and Auburn among others.

Product Mix

Loan Type Originations Total Value Average Loan Average Fees Average Rate
Conventional 4,259 $1,909,925,000 $448,444 $2,401 3.36%
FHA 4 $650,000 $162,500 $3,857 4.31%
VA 3 $1,265,000 $421,667 $5,638 2.58%

For the 2021 period, Three Rivers Federal Credit Union's most frequently originated loan type of loans were Conventional, with 4,259 originations. Their 2nd most popular type is FHA, with 4 originations.

Loan Reason

Loan Reason Originations Total Value Average Loan Average Fees Average Rate
Home Purchase 1,393 $324,085,000 $232,653 $2,859 3.41%
Refi 884 $1,377,090,000 $1,557,794 $2,217 2.67%
Home Improvement 838 $73,290,000 $87,458 $2,054 3.80%
Cash Out Refi 832 $103,300,000 $124,159 $2,123 3.53%
Other 319 $34,075,000 $106,818 $2,045 3.48%

For the 2021, Three Rivers Federal Credit Union's most frequently cited loan purpose of loans were Home Purchase, with 1,393 originations. The 2nd most popular reason of loans were Refi, with 884 originations.

Loan Duration/Length

Loan Length Originations Total Value Average Loan Average Fees Average Rate
15 Year 1,555 $1,433,335,000 $921,759 $2,237 3.38%
30 Year 1,386 $254,680,000 $183,752 $2,446 3.28%
10 Year 493 $42,305,000 $85,811 $1,480 3.37%
20 Year 446 $73,850,000 $165,583 $2,348 2.98%
30+ year 202 $69,170,000 $342,426 $3,917 3.59%
Other 95 $29,145,000 $306,789 $4,267 4.49%
3 Year 49 $4,375,000 $89,286 $0 3.76%
1 Year 23 $4,565,000 $198,478 $0 5.70%
5 Year 17 $415,000 $24,412 $186 4.37%

For the 2021, Three Rivers Federal Credit Union's most frequently cited loan length of loans were 15 Year, with 1,555 originations. The 2nd most popular length of loans were 30 Year, with 1,386 originations.

Origination Fees

Origination Fee Originations Total Value Average Loan
$1k-2k 3,109 $586,595,000 $188,676
$<1k 233 $14,415,000 $61,867
$2k-3k 52 $13,640,000 $262,308
$3k-4k 6 $1,620,000 $270,000
$5k+ 3 $1,655,000 $551,667

$2,446 of loans were Three Rivers Federal Credit Union's average total fees, while their most frequently occuring range of origination fees were in the $1k-2k bucket, with 3,109 originations.

Interest Rates

Loan Rate Originations Total Value Average Loan
3-4% 1,788 $376,090,000 $210,341
2.5-3% 877 $178,815,000 $203,894
<2.5% 858 $126,810,000 $147,797
4-5% 476 $1,206,060,000 $2,533,739
5-6% 253 $22,455,000 $88,755
6-7% 14 $1,610,000 $115,000

During 2021, Three Rivers Federal Credit Union's average interest rate of loans were 3.28%, while their most frequently originated rate bucket of loans were 3-4%, with 1,788 originations.

Loan Sizing

Loan Size Originations Total Value Average Loan Average Fees Average Rate
$100,000 or less 1,609 $92,915,000 $57,747 $1,867 3.70%
$100k-200k 1,558 $220,990,000 $141,842 $2,329 3.13%
$200k-400k 863 $231,735,000 $268,523 $2,769 3.18%
$400k-600k 175 $82,945,000 $473,971 $3,397 3.25%
$600k-1MM 43 $30,665,000 $713,140 $3,835 2.98%
$1MM+ 18 $1,252,590,000 $69,588,333 $7,662 3.49%

2021 saw Three Rivers Federal Credit Union place emphasis on $100,000 or less loans with 1,609 originations, totaling $92,915,000 in origination value.

Applicant Income

Applicant Income Originations Total Value Average Loan Average Fees Average Rate
$50k-75k 990 $119,830,000 $121,040 $2,319 3.35%
$50k or less 990 $93,080,000 $94,020 $2,198 3.32%
$100k-150k 917 $173,815,000 $189,547 $2,471 3.39%
$75k-100k 763 $116,415,000 $152,575 $2,384 3.39%
$150k-250k 406 $100,580,000 $247,734 $2,669 3.38%
$250k+ 172 $68,230,000 $396,686 $3,448 3.22%

Three Rivers Federal Credit Union lent most frequently to those with incomes in the $50k-75k range, with 990 originations. The second most popular income band? $50k or less, with 990 originations.

Applicant Debt to Income Ratio

DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
20-30% 1,259 $191,545,000 $152,141 $2,380 3.23%
30-36% 801 $131,085,000 $163,652 $2,462 3.38%
<20% 654 $92,690,000 $141,728 $2,346 3.17%
43% 138 $21,000,000 $152,174 $2,297 3.46%
40% 136 $22,280,000 $163,824 $2,444 3.48%
42% 129 $24,425,000 $189,341 $2,647 3.50%
37% 128 $22,980,000 $179,531 $2,507 3.48%
38% 126 $23,360,000 $185,397 $2,538 3.49%
36% 124 $18,090,000 $145,887 $2,326 3.65%
39% 119 $20,105,000 $168,950 $2,535 3.38%
44% 119 $17,365,000 $145,924 $2,353 3.49%
41% 103 $18,575,000 $180,340 $2,597 3.46%
45% 92 $14,910,000 $162,065 $2,372 3.59%
46% 73 $12,945,000 $177,329 $2,466 3.42%
48% 63 $12,125,000 $192,460 $2,484 3.47%
50-60% 59 $6,985,000 $118,390 $1,747 4.17%
47% 55 $9,055,000 $164,636 $2,258 3.74%
49% 53 $9,135,000 $172,358 $2,160 3.59%
>60% 24 $4,890,000 $203,750 $2,363 3.65%

Three Rivers Federal Credit Union lent most frequently to those with DTI ratios of 20-30%, with 1,259 originations. The next most common DTI ratio? 30-36%, with 801 originations.

Ethnicity Mix

Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
Not applicable 8 $1,237,400,000 $154,675,000 $0 4.39%
White 3,828 $597,960,000 $156,207 $2,405 3.37%
Not provided 265 $43,965,000 $165,906 $2,306 3.28%
Black 79 $15,665,000 $198,291 $2,653 3.35%
Asian 41 $7,405,000 $180,610 $2,421 3.18%
American Indian 24 $3,400,000 $141,667 $2,277 3.61%
Asian Indian 10 $3,040,000 $304,000 $2,961 3.09%
Other Asian 5 $1,285,000 $257,000 $2,694 2.70%
Filipino 3 $815,000 $271,667 $2,346 2.79%
Chinese 1 $485,000 $485,000 $4,054 3.50%
Vietnamese 1 $275,000 $275,000 $0 4.00%
Native Hawaiian 1 $145,000 $145,000 $2,210 2.63%

Approval Rates

Total approvals of all applications
93.14%

Three Rivers Federal Credit Union has an average approval rate.

Pick Rate

Approvals leading to origination
87.10%

Three Rivers Federal Credit Union has an average pick rate.

Points and Fees

Points Originations Total Value Average Loan
NA 4,266 $1,911,840,000 $448,158

Occupancy Type Mix

Dwelling Type Originations Total Value Average Loan
4,266 $1,911,840,000 $448,158

LTV Distribution

Loan to Value Originations Total Value Average Loan Average Fees Average Rate
20-40% 545 $41,665,000 $76,450 $1,694 3.81%
40-60% 631 $84,045,000 $133,193 $2,256 2.92%
60-80% 1,553 $284,825,000 $183,403 $2,463 3.09%
80-100% 1,065 $245,565,000 $230,577 $2,751 3.31%
Over 100% 1 $63,755,000 $63,755,000 $0 4.37%
Under 20% 464 $18,210,000 $39,246 $322 4.42%