Is Together Credit Union a cheap or expensive mortgage lender? To help you shop for a mortgage, we compare the interest rates and closing costs charged by Together Credit Union to those of other lenders for a comparable set of borrowers. Here is our review of Together Credit Union nationally:
|Review Item||Together Credit Union|
|Interest Rate||lower than other lenders (-0.17%)|
|Loan Related Closing Costs||similar to other lenders (-$131)|
|National Rate and Closing Cost Star Rating||(4.5)|
On average, Together Credit Union’s interest rates were lower than those of other lenders (-0.17%). On the other hand, its loan related closing costs were similar to those of other lenders, with a difference of -$131. Overall, combining interest rates and closing costs we estimate that Together Credit Union tends to be a cheap lender, and give it a National Rate and Closing Costs Rating of 4.5 out of 5 stars. This is an excellent rating and places it among the top 15% of lenders nationwide.
We maintain our independence by not accepting any money from the mortgage lenders we review. To visit Together Credit Union, check out its website at: https://togethercu.org.
Together Credit Union’s Rate Review by City
Mortgage lenders often set different rates in different geographical markets. For our list of the top mortgage lenders by city, click here. In particular, among the cities we track Together Credit Union was most active in:
In addition, Together Credit Union is our top ranked/best mortgage lender in terms of interest rate and closing costs in:
- St. Louis, MO, for Jumbo mortgages
Together Credit Union’s Rate Review by Mortgage Type
Mortgage lenders also tend to charge different interest rates and closing costs depending on the type of mortgage. In our data, Together Credit Union originated Conforming and Jumbo mortgages for new home purchases and refinances. Its average interest rate and total loan related closing cost difference relative to other lenders by mortgages type is as follows.
|New Purchase Mortgages||Conforming||Jumbo|
|Interest Rate Difference||-0.13%||-0.10%|
|Loan Related Closing Cost Difference||-$136||+$30|
|Cost Adjusted Rate Difference||-0.14%||-0.10%|
|National Star Rating|
|Interest Rate Difference||-0.24%||-0.10%|
|Loan Related Closing Cost Difference||-$161||+$119|
|Cost Adjusted Rate Difference||-0.26%||-0.09%|
|Average Star Rating|
As a summary, Together Credit Union is cheap for Conforming and Jumbo purchase mortgages. For refinancing, Together Credit Union is cheap for Conforming and Jumbo mortgage refinance. Nevertheless, individual circumstances can matter a lot for mortgage rates, and we always recommend shopping among several of our top mortgage lenders in your area before signing.
Other information about Together Credit Union:
Registered city and state: 423 LYNCH STREET, MO, 63118
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 Together 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.