TruStone Financial Federal Credit Union Mortgage Interest Rate and Cost Review

Is TruStone Financial Federal Credit Union a cheap or expensive mortgage lender? We compare the interest rates and closing costs charged by TruStone Financial Federal Credit Union with other lenders for comparable mortgages. Nationally, here is what we find:

Interest Ratesimilar to average (+0.09%)
Loan Related Closing Costslower than average (-$313)
National Rate and Closing Cost Rating(3.5)
Websitehttps://trustonefinancial.org

On average, TruStone Financial Federal Credit Union’s interest rates were similar to those of other lenders (+0.09%) for a comparable set of borrowers. Its average total loan related closing cost was lower than those of other lenders, with a difference of -$313. Overall, combining interest rates and closing costs we estimate that TruStone Financial Federal Credit Union tends to be an average cost lender, and give it a National Rate and Closing Costs Rating of 3.5 out of 5.0 stars.

TruStone Financial Federal Credit Union’s Rates by Area

Mortgage lenders often set different rates in different geographical markets. In particular, among the markets we track TruStone Financial Federal Credit Union was most active in:

  1. Minneapolis, MN
  2. Chicago, IL
  3. Elk River, MN
  4. Milwaukee, WI
  5. Brainerd, MN

You can click through to check out TruStone Financial Federal Credit Union’s mortgage rate competitiveness by area. Or, for our data driven ranking of all the top mortgage lenders by area, click here.

TruStone Financial Federal Credit Union’s Rates by Mortgage Type

Mortgage lenders also tend to charge different interest rates and closing costs depending on the type of mortgage. In our data, TruStone Financial Federal Credit Union originated Conforming, FHA, Jumbo, USDA and VA mortgages for new home purchases. It also originated Conforming, FHA, Jumbo and VA mortgages for refinances. We breakdown its interest rate and total loan related closing cost difference relative to other lenders for comparable mortgages by type in the table below.

Purchase/Refinance:
New Purchase MortgagesConformingFHAJumboUSDAVA
Interest Rate Difference+0.11%-0.05%+0.03%-0.02%-0.02%
Loan Related Closing Cost Difference-$389-$516+$156-$52-$167
Cost Adjusted Rate Difference+0.06%-0.08%+0.03%-0.02%-0.03%
Star Rating(3.0)(4.0)(3.5)(3.5)(3.5)
Refinance MortgagesConformingFHAJumboVA
Interest Rate Difference+0.11%-0.07%-0.01%+0.01%
Loan Related Closing Cost Difference-$265-$60+$149-$215
Cost Adjusted Rate Difference+0.05%-0.07%-0.01%-0.01%
Star Rating(3.5)(4.0)(3.5)(3.5)

As a summary, TruStone Financial Federal Credit Union is cheap for FHA purchase mortgages. It is similar to other lenders for Jumbo, USDA and VA purchase mortgages. It is more expensive than other lenders for Conforming purchase mortgages. For refinancing mortgages, TruStone Financial Federal Credit Union is cheap for FHA mortgage refinance. It is similar to other lenders for Conforming, Jumbo and VA mortgage refinance. Nevertheless, individual circumstances can matter, and we always recommend shopping among several lenders in your area before signing.

Other information about TruStone Financial Federal Credit Union:

Registered name: TruStone Financial Federal Credit Union
Registered city and state: Plymouth, MN, 55447
Regulator: National Credit Union Administration (NCUA)

* Source of the data is Federal Financial Institutions Examination Council (FFIEC) and is for mortgages originated in the past year. Our comparable mortgages analysis controls for TruStone Financial Federal Credit Union’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 commuting zone. Cost adjusted rates were computed based on each percent of the loan amount in above average loan related closing costs being worth +0.15 of a percentage point in interest rate. Furthermore, the amounts are regularized using a Bayesian approach to control for small samples.