Three Rivers Federal Credit Union Mortgage Rates, Fees & Info

Fort Wayne, IN

LEI: 549300ZBBGOL4MIK0L71

Tax ID: 35-0885395

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Mortgage Data

Review & Overview

Three Rivers Federal Credit Union is a smaller credit union specializing in Home Purchase and Cash Out 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.) They have a low ratio of USDA loans. Their top markets by origination volume include: Fort Wayne, Kendallville, Angola, Auburn, and Bluffton among others. We have data for 39 markets. (Some data included below & more in-depth data is available with an active subscription.)

Three Rivers 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. Three Rivers 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.

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
Home Equity Line of Credit (HELOC) 8.21% 3/28/24
30 Year Conventional Purchase 6.84% 3/28/24
30 Year Conventional Refi 6.66% 3/28/24
30 Year Cash-out Refi 6.87% 3/28/24
30 Year USDA Purchase 7.07% 3/28/24
15 Year Conventional Purchase 6.29% 3/28/24
15 Year Conventional Refi 6.16% 3/28/24
15 Year Cash-out Refi 6.16% 3/28/24
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.

Three Rivers Federal Credit Union Mortgage Calculator






Your Estimates

Estimated Loan Payment: Update the calculator values and click calculate payment!

This is not an official calculator from Three Rivers Federal Credit Union. It uses our SimulatedRate™ technology, basic math and reasonable assumptions to calculate mortgage payments derived from our simulations and your inputs.

The default purchase price is the median sales price across the US for 2022Q4, per FRED.


Originations

2,143

Origination Dollar Volume (All Markets)

$322,465,000
Show all (7) awards

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
FORT WAYNE, IN (FHA|USDA|VA) 1,505 $222,815,000 $148,050 $2,153 4.55%
Outside of Metro Areas 163 $27,185,000 $166,779 $2,566 4.58%
Kendallville, IN (FHA|USDA|VA) 88 $15,010,000 $170,568 $2,386 4.33%
Angola, IN (FHA|USDA|VA) 45 $14,875,000 $330,556 $2,868 3.91%
Auburn, IN (FHA|USDA|VA) 87 $12,305,000 $141,437 $2,216 4.53%
Bluffton, IN (FHA|USDA|VA) 86 $9,610,000 $111,744 $1,716 5.10%
Decatur, IN (FHA|USDA|VA) 32 $3,750,000 $117,188 $2,054 4.54%
Wapakoneta, OH (FHA|USDA|VA) 32 $3,040,000 $95,000 $2,261 4.71%
Warsaw, IN (FHA|USDA|VA) 16 $2,780,000 $173,750 $2,406 4.36%
Huntington, IN (FHA|USDA|VA) 21 $1,995,000 $95,000 $1,781 5.09%
Coldwater, MI (FHA|USDA|VA) 6 $970,000 $161,667 $3,500 4.00%
INDIANAPOLIS-CARMEL-ANDERSON, IN (FHA|USDA|VA) 7 $855,000 $122,143 $2,240 4.63%
Van Wert, OH (FHA|USDA|VA) 6 $660,000 $110,000 $3,333 4.73%
Wabash, IN (FHA|USDA|VA) 4 $630,000 $157,500 $2,176 4.00%
Defiance, OH (FHA|USDA|VA) 4 $520,000 $130,000 $2,985 4.44%
NAPLES-MARCO ISLAND, FL (FHA|USDA|VA) 1 $485,000 $485,000 $5,802 3.63%
Celina, OH (FHA|USDA|VA) 8 $480,000 $60,000 $1,799 5.22%
Greenville, OH (FHA|USDA|VA) 2 $470,000 $235,000 $1,869 5.56%
Marion, IN (FHA|USDA|VA) 3 $365,000 $121,667 $2,630 4.21%
TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) 2 $360,000 $180,000 $3,408 4.06%
CLEVELAND-ELYRIA, OH (FHA|USDA|VA) 2 $320,000 $160,000 $3,105 4.13%
MUNCIE, IN (FHA|USDA|VA) 2 $300,000 $150,000 $1,697 4.88%
CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) 1 $285,000 $285,000 $4,190 3.63%
LIMA, OH (FHA|USDA|VA) 3 $275,000 $91,667 $2,680 4.46%
Chicago-Naperville-Elgin, IL-IN-WI (FHA|USDA|VA) 1 $255,000 $255,000 $2,448 3.63%
COLUMBUS, OH (FHA|USDA|VA) 1 $205,000 $205,000 $3,405 3.00%
ELKHART-GOSHEN, IN (FHA|USDA|VA) 1 $195,000 $195,000 $2,115 5.00%
EVANSVILLE, IN-KY (FHA|USDA|VA) 1 $185,000 $185,000 $2,772 3.88%
BLOOMINGTON, IN (FHA|USDA|VA) 3 $175,000 $58,333 $1,729 5.21%
MICHIGAN CITY-LA PORTE, IN (FHA|USDA|VA) 1 $165,000 $165,000 $2,288 3.88%
PALM BAY-MELBOURNE-TITUSVILLE, FL (FHA|USDA|VA) 1 $145,000 $145,000 $3,250 4.75%
DAYTON-KETTERING, OH (FHA|USDA|VA) 1 $145,000 $145,000 $2,933 4.38%
Hillsdale, MI (FHA|USDA|VA) 1 $145,000 $145,000 $2,818 5.13%
BATTLE CREEK, MI (FHA|USDA|VA) 1 $135,000 $135,000 $2,076 4.50%
DELTONA-DAYTONA BEACH-ORMOND BEACH, FL (FHA|USDA|VA) 1 $115,000 $115,000 $2,771 3.00%
Peru, IN (FHA|USDA|VA) 1 $85,000 $85,000 $1,910 4.63%
SAGINAW, MI (FHA|USDA|VA) 1 $75,000 $75,000 $1,709 3.25%
Sidney, OH (FHA|USDA|VA) 1 $55,000 $55,000 $2,853 3.38%
Sault Ste. Marie, MI (FHA|USDA|VA) 1 $45,000 $45,000 $2,217 4.00%
Three Rivers Federal Credit Union's top markets include Fort Wayne, Kendallville, Angola, Auburn, and Bluffton among others.

Their top states include:
  • Indiana (FHA|USDA|VA)
  • Ohio (FHA|USDA|VA)
  • Michigan (FHA|USDA|VA)
  • Florida (FHA|USDA|VA)
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    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 1,796 $302,360,000 $168,352 $2,203 4.35%
    HELOC 327 $16,945,000 $51,820 n/a 5.67%
    FHA 12 $1,860,000 $155,000 $4,030 4.47%
    VA 6 $1,140,000 $190,000 $1,849 4.40%
    USDA 2 $160,000 $80,000 $2,802 4.50%

    For 2019, Three Rivers Federal Credit Union's most frequently originated type of loan was Conventional, with 1,796 originations. Their 2nd most popular type was HELOC, with 327 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 959 $192,785,000 $201,027 $2,696 4.28%
    Cash Out Refi 715 $66,605,000 $93,154 $1,546 5.11%
    Refi 267 $48,515,000 $181,704 $2,206 3.72%
    Home Improvement 193 $14,165,000 $73,394 $1,486 4.96%
    Other 9 $395,000 $43,889 $149 5.81%

    For 2019, Three Rivers Federal Credit Union's most frequently cited loan purpose was Home Purchase, with 959 originations. The 2nd most popular reason was Cash Out Refi, with 715 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 866 $148,120,000 $171,039 $2,392 4.17%
    15 Year 584 $59,830,000 $102,449 $1,870 4.77%
    10 Year 280 $16,570,000 $59,179 $643 5.45%
    30+ year 156 $53,790,000 $344,808 $3,715 4.04%
    20 Year 106 $17,560,000 $165,660 $2,286 4.04%
    1 Year 61 $10,355,000 $169,754 $0 5.67%
    Other 50 $14,820,000 $296,400 $3,517 3.80%
    5 Year 23 $455,000 $19,783 $154 6.04%
    3 Year 17 $965,000 $56,765 $0 6.50%

    For 2019, Three Rivers Federal Credit Union's most frequently cited loan duration was 30 Year, with 866 originations. The 2nd most popular length was 15 Year, with 584 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 1,193 $163,985,000 $137,456
    $1k-2k 588 $132,180,000 $224,796
    $2k-3k 23 $6,215,000 $270,217
    $3k-4k 4 $1,610,000 $402,500
    $4k-5k 1 $315,000 $315,000

    Three Rivers Federal Credit Union's average total fees were $2,392, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 1,193 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    3-4% 841 $172,575,000 $205,202
    4-5% 559 $90,835,000 $162,496
    5-6% 453 $33,985,000 $75,022
    6-7% 208 $9,510,000 $45,721
    2.5-3% 78 $15,420,000 $197,692
    7-8% 4 $140,000 $35,000

    During 2019, Three Rivers Federal Credit Union's average interest rate for loans was 4.17%, while their most frequently originated rate bucket for loans was 3-4%, with 841 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 926 $48,550,000 $52,430 $1,444 5.14%
    $100k-200k 671 $96,785,000 $144,240 $2,378 4.22%
    $200k-400k 447 $119,615,000 $267,595 $2,808 4.01%
    $400k-600k 65 $29,945,000 $460,692 $3,306 3.89%
    $600k-1MM 32 $23,710,000 $740,938 $3,641 3.65%
    $1MM+ 2 $3,860,000 $1,930,000 $6,025 3.31%

    2019 saw Three Rivers Federal Credit Union place emphasis on $100,000 or less loans with 926 originations, totaling $48,550,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k or less 490 $41,880,000 $85,469 $2,051 4.53%
    $50k-75k 479 $53,255,000 $111,180 $2,043 4.64%
    $100k-150k 457 $80,755,000 $176,707 $2,320 4.59%
    $75k-100k 405 $59,735,000 $147,494 $2,195 4.58%
    $150k-250k 202 $48,100,000 $238,119 $2,538 4.47%
    $250k+ 71 $34,265,000 $482,606 $3,183 4.14%

    Three Rivers Federal Credit Union lent most frequently to those with incomes in the $50k or less range, with 490 originations. The second most popular income band? $50k-75k, with 479 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 625 $91,295,000 $146,072 $2,204 4.48%
    30-36% 421 $62,495,000 $148,444 $2,215 4.57%
    <20% 316 $44,700,000 $141,456 $2,244 4.37%
    38% 89 $13,725,000 $154,213 $2,147 4.75%
    36% 75 $11,995,000 $159,933 $2,122 4.57%
    40% 73 $14,345,000 $196,507 $2,458 4.49%
    39% 70 $9,510,000 $135,857 $1,973 4.78%
    37% 69 $8,645,000 $125,290 $1,885 4.85%
    43% 58 $9,770,000 $168,448 $2,682 4.65%
    41% 57 $8,935,000 $156,754 $2,120 4.68%
    42% 54 $8,580,000 $158,889 $2,228 4.72%
    44% 47 $6,575,000 $139,894 $2,152 4.57%
    45% 43 $7,555,000 $175,698 $2,229 4.60%
    50-60% 30 $5,410,000 $180,333 $1,952 4.94%
    47% 29 $5,005,000 $172,586 $2,128 4.60%
    46% 28 $3,810,000 $136,071 $2,378 4.89%
    49% 21 $3,835,000 $182,619 $2,445 4.37%
    48% 19 $3,095,000 $162,895 $2,545 4.76%
    >60% 3 $425,000 $141,667 $2,333 3.63%

    Three Rivers Federal Credit Union lent most frequently to those with DTI ratios of 20-30%, with 625 originations. The next most common DTI ratio? 30-36%, with 421 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 1,972 $297,040,000 $150,629 $2,225 4.55%
    Not provided 83 $12,375,000 $149,096 $1,889 4.82%
    Black 50 $7,550,000 $151,000 $2,447 4.58%
    Asian 20 $2,900,000 $145,000 $2,342 4.44%
    American Indian 11 $1,345,000 $122,273 $1,932 4.50%
    Asian Indian 2 $530,000 $265,000 $2,371 3.63%
    Not applicable 2 $380,000 $190,000 $2,555 4.69%
    Other Asian 2 $290,000 $145,000 $2,217 4.00%
    Chinese 1 $55,000 $55,000 $149 6.75%

    Approval Rates

    Total approvals of all applications
    90.47%

    Three Rivers Federal Credit Union has an average approval rate.

    Pick Rate

    Approvals leading to origination
    84.51%

    Three Rivers Federal Credit Union has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 2,143 $322,465,000 $150,474

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Single Family (1-4 Units):Manufactured 11 $895,000 $81,364
    Single Family (1-4 Units):Site-Built 2,132 $321,570,000 $150,830

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 233 $12,755,000 $54,742 $886 5.46%
    40-60% 203 $24,275,000 $119,581 $2,090 4.22%
    60-80% 601 $105,485,000 $175,516 $2,390 4.21%
    80-100% 798 $165,780,000 $207,744 $2,663 4.18%
    Over 100% 2 $2,490,000 $1,245,000 $5,020 3.94%
    Under 20% 290 $8,920,000 $30,759 $334 5.80%