3Rivers Federal Credit Union Mortgage Interest Rate and Cost Review

Is 3Rivers Federal 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 3Rivers Federal Credit Union to those of other lenders for a comparable set of borrowers. Here is our review of 3Rivers Federal Credit Union nationally:

Review Item3Rivers Federal Credit Union
Interest Ratesimilar to other lenders (+0.08%)
Loan Related Closing Costssimilar to other lenders (-$113)
National Rate and Closing Cost Star Rating(3)

On average, 3Rivers Federal Credit Union’s interest rates were similar to those of other lenders (+0.08%). Its loan related closing costs were also similar to those of other lenders, with a difference of -$113. Overall, combining interest rates and closing costs we estimate that 3Rivers Federal Credit Union tends to be an average cost lender, and give it a National Rate and Closing Costs Rating of 3 out of 5 stars. We maintain our independence by not accepting any money from the mortgage lenders we review. To visit 3Rivers Federal Credit Union, its website is located at: https://www.3riversfcu.org.

3Rivers Federal 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 in your area, click here. In particular, among the cities we track 3Rivers Federal Credit Union was most active in:

  1. Fort Wayne, IN
  2. Lima, OH
  3. Muncie, IN
  4. Winona Lake, IN
  5. Defiance, OH

3Rivers Federal 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, 3Rivers Federal Credit Union originated Conforming, FHA, Jumbo, USDA and VA mortgages for new home purchases. It also originated Conforming, FHA and Jumbo mortgages for refinances. Its average interest rate and total loan related closing cost difference relative to other lenders for comparable borrowers by mortgages type is as follows.

Purchase/Refinance:
New Purchase MortgagesConformingFHAJumboUSDAVA
Interest Rate Difference+0.02%-0.01%-0.01%+0.01%+0.00%
Loan Related Closing Cost Difference-$2+$2-$12-$10-$11
Cost Adjusted Rate Difference+0.02%-0.01%-0.01%+0.00%+0.00%
National Star Rating(3.5)(3.5)(3.5)(3.5)(3.5)
Refinance MortgagesConformingFHAJumbo
Interest Rate Difference+0.14%+0.01%+0.01%
Loan Related Closing Cost Difference-$207-$34+$44
Cost Adjusted Rate Difference+0.09%+0.00%+0.01%
Average Star Rating(3)(3.5)(3.5)

As a summary, 3Rivers Federal Credit Union is similar to other lenders for Conforming, FHA, Jumbo, USDA and VA purchase mortgages. For refinancing mortgages, 3Rivers Federal Credit Union is similar to other lenders for FHA and Jumbo mortgage refinance. It is more expensive than other lenders for Conforming 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 3Rivers Federal Credit Union:

Registered name: Three Rivers Federal Credit Union
Registered city and state: FORT WAYNE, IN, 46825
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 3Rivers 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.