Is Together Credit Union a cheap or expensive mortgage lender? We compare the interest rates and closing costs charged by Together Credit Union with other lenders for comparable mortgages. Nationally, here is what we find:
|Interest Rate||lower than average (-0.17%)|
|Loan Related Closing Costs||similar to average (-$131)|
|National Rate and Closing Cost Rating||(4.5)|
On average, Together Credit Union’s interest rates were lower than those of other lenders (-0.17%) for a comparable set of borrowers. Its average total loan related closing cost was 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 5.0 stars.
Together Credit Union’s Rates by Area
Mortgage lenders often set different rates in different geographical markets. In particular, among the markets we track Together Credit Union was most active in:
Furthermore, Together Credit Union is our top ranked mortgage lender in terms of interest rate and closing costs in St. Louis, MO, for Jumbo mortgages.
You can click through to check out Together Credit Union’s mortgage rate competitiveness by area. Or, for our data driven ranking of all the top mortgage lenders by area, click here.
Together 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, Together Credit Union originated Conforming and Jumbo mortgages for new home purchases and 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.
|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%|
|Interest Rate Difference||-0.24%||-0.10%|
|Loan Related Closing Cost Difference||-$161||+$119|
|Cost Adjusted Rate Difference||-0.26%||-0.09%|
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, and we always recommend shopping among several 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.