United Bay Community Credit Union Mortgage Rates, Fees & Info

Bay City, MI

LEI: 25490029YJHFABABT680

Tax ID: 38-1395700

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Mortgage Data

  • Originations
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • Complaints
  • Similar Lenders
  • Loan Length
  • Loan to Value Info
  • Debt-to-Income
  • Applicant Income
  • Ethnicity Info
  • Approval & Pick Rates
  • Points and Fees
  • Origination Fees (Closing Costs)

    • Review & Overview

    United Bay Community Credit Union is a smaller credit union specializing in Other, Home Purchase, and Cash Out Refi loans. United Bay Community Credit Union has a high proportion of conventional loans. Their top markets by origination volume include: Bay City, Kalamazoo, Detroit, Saginaw, and Traverse City among others. We have data for 6 markets. (Some data included below & more in-depth data is available with an active subscription.)

    United Bay Community Credit Union has an average approval rate when compared to the average across all lenders. They have a below average pick rate when compared to similar lenders. United Bay Community Credit Union is typically a low fee lender. (We use the term "fees" to include things like closing costs and other costs incurred by borrowers-- whether they are paid out of pocket or rolled into the loan.) They typically have about average rates.

    We show data for every lender and do not change our ratings-- even if an organization is a paid advertiser. Our consensus data does have lag, but it is highly correlated to a lender's rates & fees relative to their markets. This means that if a bank is a low fee/rate lender the past-- chances are they are still one today. Our SimulatedRates™ use advanced statistical techniques to forecast different rates based on a lender's historical data.

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    Originations

    99

    Origination Dollar Volume (All Markets)

    $5,485,000

    Awards

    United Bay Community Credit Union 30 Year Conventional Loans gold
    Show all (1) awards

    Top Markets

    Zoom/scroll map to see bank's per metro statistics. Subscribers can configure state/metro/county granularity, assorted fields and quantity of results. This map shows top 10 markets in the map viewport, as defined by descending origination volume.

    Market Originations Total Value Average Loan Average Fees Average Rate
    BAY CITY, MI (FHA|USDA|VA) 66 $3,720,000 $56,364 $1,154 5.51%
    Outside of Metro Areas 22 $1,170,000 $53,182 $1,280 6.01%
    KALAMAZOO-PORTAGE, MI (FHA|USDA|VA) 5 $275,000 $55,000 $1,602 5.60%
    Detroit-Warren-Dearborn, MI (FHA|USDA|VA) 1 $175,000 $175,000 $2,125 4.88%
    SAGINAW, MI (FHA|USDA|VA) 4 $110,000 $27,500 $768 6.12%
    Traverse City, MI (FHA|USDA|VA) 1 $35,000 $35,000 $1,670 4.00%
    United Bay Community Credit Union's top markets include Bay City, Kalamazoo, Detroit, Saginaw, and Traverse City among others.

    Their top states include:
  • Michigan (FHA|USDA|VA)

    • Similar Lenders

    We use machine learning to identify the top lenders compared against United Bay Community Credit Union based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.

    SUNRISE FAMILY CREDIT UNION
    Similarity Rank: 54
    FinancialEdge Community Credit Union
    Similarity Rank: 56
    Wanigas Credit Union
    Similarity Rank: 110
    Frankenmuth Credit Union
    Similarity Rank: 320
    DOW CHEMICAL EMPLOYEES'
    Similarity Rank: 460
    LAKE MICHIGAN CREDIT UNION
    Similarity Rank: 552
    Independent Bank
    Similarity Rank: 650
    CHEMECAL BANK
    Similarity Rank: 1610
    The Huntington National Bank
    Similarity Rank: 4014
    Flagstar Bank, FSB
    Similarity Rank: 12852

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 99 $5,485,000 $55,404 $1,204 5.63%

    For 2018, United Bay Community Credit Union's most frequently originated type of loan was Conventional, with 99 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Other 49 $1,805,000 $36,837 $961 6.05%
    Home Purchase 18 $1,380,000 $76,667 $1,714 5.21%
    Cash Out Refi 16 $1,380,000 $86,250 $1,752 4.84%
    Refi 9 $695,000 $77,222 $1,417 4.76%
    Home Improvement 7 $225,000 $32,143 $178 6.71%

    For 2018, United Bay Community Credit Union's most frequently cited loan purpose was Other, with 49 originations. The 2nd most popular reason was Home Purchase, with 18 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    15 Year 45 $2,815,000 $62,556 $1,333 5.66%
    10 Year 35 $1,055,000 $30,143 $687 6.00%
    30 Year 12 $930,000 $77,500 $1,995 4.85%
    20 Year 4 $440,000 $110,000 $1,884 4.91%
    Other 3 $245,000 $81,667 $1,534 5.00%

    For 2018, United Bay Community Credit Union's most frequently cited loan duration was 15 Year, with 45 originations. The 2nd most popular length was 10 Year, with 35 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 83 $4,535,000 $54,639
    $1k-2k 14 $830,000 $59,286

    United Bay Community Credit Union's average total fees were $1,995, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 83 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    4-5% 47 $3,555,000 $75,638
    6-7% 22 $860,000 $39,091
    5-6% 19 $765,000 $40,263
    Over 8% 6 $110,000 $18,333
    3-4% 3 $155,000 $51,667
    7-8% 2 $40,000 $20,000

    During 2018, United Bay Community Credit Union's average interest rate for loans was 4.85%, while their most frequently originated rate bucket for loans was 4-5%, with 47 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 88 $4,030,000 $45,795 $1,122 5.72%
    $100k-200k 11 $1,455,000 $132,273 $1,842 4.89%

    2018 saw United Bay Community Credit Union place emphasis on $100,000 or less loans with 88 originations, totaling $4,030,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k or less 43 $1,795,000 $41,744 $1,113 5.93%
    $50k-75k 32 $2,120,000 $66,250 $1,360 5.44%
    $75k-100k 14 $950,000 $67,857 $1,311 5.32%
    $100k-150k 7 $445,000 $63,571 $1,146 5.12%
    $150k-250k 3 $175,000 $58,333 $415 5.99%

    United Bay Community Credit Union lent most frequently to those with incomes in the $50k or less range, with 43 originations. The second most popular income band? $50k-75k, with 32 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 23 $1,325,000 $57,609 $1,088 5.68%
    <20% 22 $970,000 $44,091 $1,112 5.41%
    30-36% 18 $1,080,000 $60,000 $1,364 5.28%
    41% 8 $400,000 $50,000 $1,269 6.18%
    36% 4 $230,000 $57,500 $1,500 5.15%
    42% 3 $175,000 $58,333 $1,274 5.83%
    39% 3 $225,000 $75,000 $1,725 5.25%
    50-60% 3 $145,000 $48,333 $600 7.04%
    45% 2 $50,000 $25,000 $1,199 5.62%
    43% 2 $250,000 $125,000 $1,946 4.94%
    38% 2 $50,000 $25,000 $863 5.25%
    37% 2 $50,000 $25,000 $898 5.50%
    44% 2 $140,000 $70,000 $1,260 8.12%
    48% 1 $75,000 $75,000 $1,757 4.38%
    49% 1 $65,000 $65,000 $2,042 4.75%
    40% 1 $155,000 $155,000 $520 6.49%

    United Bay Community Credit Union lent most frequently to those with DTI ratios of 20-30%, with 23 originations. The next most common DTI ratio? <20%, with 22 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 95 $5,305,000 $55,842 $1,202 5.62%
    Black 1 $65,000 $65,000 $2,684 5.13%
    Not provided 2 $60,000 $30,000 $338 6.74%
    American Indian 1 $55,000 $55,000 $1,684 4.63%

    Approval Rates

    Total approvals of all applications
    83.14%

    United Bay Community Credit Union has a below average approval rate.

    Pick Rate

    Approvals leading to origination
    61.62%

    United Bay Community Credit Union has a low pick rate. They may have issues with closing loans or may approve everyone, but with onerous loan terms.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 99 $5,485,000 $55,404

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Single Family (1-4 Units):Manufactured 5 $205,000 $41,000
    Single Family (1-4 Units):Site-Built 94 $5,280,000 $56,170

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 22 $810,000 $36,818 $796 6.06%
    40-60% 18 $890,000 $49,444 $1,173 5.51%
    60-80% 28 $1,920,000 $68,571 $1,773 4.96%
    80-100% 16 $1,420,000 $88,750 $1,619 5.05%
    Over 100% 1 $85,000 $85,000 $954 4.50%
    Under 20% 13 $265,000 $20,385 $279 7.32%

    Complaints

    Bank Name Product Issue 2018 CPFB Complaints % of Total Issues
    UNITED COMMUNITY BANK Conventional home mortgage Trouble during payment process 1 25.0%
    UNITED COMMUNITY BANK Other type of mortgage Applying for a mortgage or refinancing an existing mortgage 1 25.0%
    UNITED COMMUNITY BANK Other type of mortgage Struggling to pay mortgage 1 25.0%
    UNITED COMMUNITY BANK Other type of mortgage Trouble during payment process 1 25.0%