We compare mortgage interest rate and loan related closing costs at CU Mortgage Direct LLC with other lenders for mortgages with similar borrower characteristics:
Interest Rate: similar to average (+0.02%)
Loan Related Closing Costs: similar to average (-$221)
Assessment: this lender tends to be a average cost lender.
This scoreboard is based on data reported to FFIEC. In the data, CU Mortgage Direct LLC originated 315 mortgages, a national market share of 0.0%. It was primarily active in SD (2.1% market share) and IA (0.0% market share).
On average, CU Mortgage Direct LLC’s interest rates were similar to those of comparable mortgages at other lenders (+0.02%).1The comparable mortgages control for CU Mortgage Direct LLC’s distribution of loan term (e.g. 30 year vs 15 year), loan-to-value (LTV), debt-to-income (DTI), loan amount, loan program (e.g. Conforming/FHA), loan purpose (e.g. purchase/refinance), and county. Interest rate and loan related closing costs are estimated based on fixed rate mortgages only, whereas market shares include all purchase or refinance mortgages. Its average total loan related closing cost was $3092, which was similar to those of comparable mortgages at $3314, with a difference of -$221. Overall, we estimate that CU Mortgage Direct LLC tends to be an average cost lender, with a cost-adjusted-rate difference of -0.01% compared to comparable mortgages at other lenders.2Cost adjusted rates were computed based on each percent of the loan amount in loan related closing costs being worth 1/6 of a percentage point in interest rate. Nevertheless, we recommend comparing your rate and fees with at least a few other lenders before signing with CU Mortgage Direct LLC.
CU Mortgage Direct LLC originated Conforming mortgages for new home purchases. It also originated Conforming mortgages for refinances. We breakdown its interest rate and total loan related closing cost on by each of the mortgage types it originated below:
Home Purchase Mortgages from CU Mortgage Direct LLC compared to other lenders
|Interest Rate Difference||+0.00%|
|Loan related Closing Cost Difference||-$365|
|Cost Adjusted Rate Difference||-0.04%|
Based on the table above, CU Mortgage Direct LLC is similar to other lenders for Conforming purchase mortgages.
Mortgage Refinancing from CU Mortgage Direct LLC compared to other lenders
|Interest Rate Difference||+0.05%|
|Loan Related Closing Cost Difference||+$142|
|Cost Adjusted Rate Difference||+0.06%|
Based on the table above, CU Mortgage Direct LLC is more expensive than other lenders for Conforming mortgage refinance.
Other information about CU Mortgage Direct LLC:
Regulator: National Credit Union Administration (NCUA)
Registered city and state: SIOUX FALLS, SD, 57108