Magnifi Financial Credit Union closing costs and rates (2024)
In 2024, Magnifi Financial Credit Union originated 320 purchase mortgages at a median interest rate of 6.62% and median total closing costs of $3,576. That is $3,165 below the national median of $6,741. Magnifi Financial Credit Union is most active in Minnesota with 312 originations there.
Purchase Originations
320
Median Total Costs
$3,576
−47.0% vs national ($6,741)
Median Rate
6.625%
+0.1% vs national (6.620%)
Median Origination
$1,000
Median Lender Credits
$1,000
Breakdown by loan type
| Loan type | Volume | Median Rate | Median Total Costs | Median Origination |
|---|---|---|---|---|
| conventional | 320 | 6.625% | $3,576 | $1,000 |
Active states
| State | Volume | Median Rate | Median Total Costs | State Rank |
|---|---|---|---|---|
| Minnesota | 312 | 6.625% | $3,598 | #46 |
| North Dakota | 7 | 6.500% | $3,115 | — |
| Wisconsin | 1 | 6.250% | $2,789 | — |
Top counties by origination volume
| Rank | Lender | Median Total Costs ↑ | Median Rate ↕ | Median Origination ↕ | Volume ↕ | vs. Median |
|---|---|---|---|---|---|---|
| 1 | $3,103 | 6.062% | — | 6 | −$473 | |
| 2 | $3,115 | 6.500% | — | 7 | −$461 | |
| 3 | $3,363 | 6.562% | — | 10 | −$213 | |
| 4 | $3,363 | 7.375% | — | 5 | −$213 | |
| 5 | $3,453 | 6.625% | — | 28 | −$123 | |
| 6 | $3,480 | 6.938% | — | 6 | −$96 | |
| 7 | $3,500 | 7.000% | — | 12 | −$76 | |
| 8 | $3,555 | 6.250% | — | 8 | −$21 | |
| 9 | $3,564 | 6.812% | — | 12 | −$12 | |
| 10 | $3,565 | 7.125% | — | 5 | −$11 | |
| 11 | $3,589 | 6.625% | — | 146 | +$13 | |
| 12 | $3,804 | 6.625% | — | 8 | +$228 | |
| 13 | $3,845 | 6.312% | — | 14 | +$269 | |
| 14 | $3,942 | 6.875% | — | 7 | +$366 | |
| 15 | $4,106 | 6.375% | — | 2 | +$530 | |
| 16 | $4,252 | 6.375% | — | 5 | +$676 | |
| 17 | $4,446 | 6.562% | — | 4 | +$870 | |
| 18 | $4,551 | 6.500% | — | 2 | +$975 | |
| 19 | $4,688 | 7.125% | — | 3 | +$1,112 | |
| 20 | $4,899 | 6.500% | — | 3 | +$1,323 |
Includes lenders with 1+ purchase originations in top counties. Source: HMDA 2024. Sorted by median total loan costs.
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Data source: HMDA Modified Loan Application Register 2024, published by the Consumer Financial Protection Bureau (CFPB).
Statistics reflect originated first-lien purchase mortgages on owner-occupied principal residences. Medians exclude loans with exempt or unreported fee disclosures. Learn more at ffiec.cfpb.gov.