United Bay Community Credit Union Mortgage Rates, Fees & Info

Bay City, MI

LEI: 25490029YJHFABABT680

Tax ID: 38-1395700

Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data

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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 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, Holland, Saginaw, and Grand Rapids among others. We have data for 8 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

    144

    Origination Dollar Volume (All Markets)

    $11,700,000

    Awards

    United Bay Community Credit Union 30 Year Conventional Loans gold United Bay Community Credit Union 30 Year Conventional Loans gold United Bay Community Credit Union 30 Year Conventional Loans gold United Bay Community Credit Union 30 Year Conventional Loans gold
    Show all (4) 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) 98 $6,580,000 $67,143 $1,483 4.86%
    Outside of Metro Areas 28 $2,690,000 $96,071 $1,437 5.40%
    KALAMAZOO-PORTAGE, MI (FHA|USDA|VA) 6 $700,000 $116,667 $2,094 4.67%
    Holland, MI (FHA|USDA|VA) 2 $510,000 $255,000 $2,465 4.25%
    SAGINAW, MI (FHA|USDA|VA) 5 $425,000 $85,000 $1,517 6.30%
    GRAND RAPIDS-KENTWOOD, MI (FHA|USDA|VA) 2 $390,000 $195,000 $2,272 4.44%
    MIDLAND, MI (FHA|USDA|VA) 2 $320,000 $160,000 $3,299 4.88%
    BATTLE CREEK, MI (FHA|USDA|VA) 1 $85,000 $85,000 $2,124 4.00%
    United Bay Community Credit Union's top markets include Bay City, Kalamazoo, Holland, Saginaw, and Grand Rapids among others.

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

    United Bay Community Credit Union
    Similarity Rank: 32
    Wanigas Credit Union
    Similarity Rank: 98
    Frankenmuth Credit Union
    Similarity Rank: 238
    DOW CHEMICAL EMPLOYEES'
    Similarity Rank: 342
    Independent Bank
    Similarity Rank: 640
    LAKE MICHIGAN CREDIT UNION
    Similarity Rank: 1800
    CHEMECAL BANK
    Similarity Rank: 2700
    Mortgage Research Center, LLC
    Similarity Rank: 2760
    TCF National Bank
    Similarity Rank: 3760
    Fifth Third Bank
    Similarity Rank: 5586

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 139 $11,525,000 $82,914 $1,560 4.94%
    HELOC 5 $175,000 $35,000 n/a 6.30%

    For 2019, United Bay Community Credit Union's most frequently originated type of loan was Conventional, with 139 originations. Their 2nd most popular type was HELOC, with 5 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 41 $4,885,000 $119,146 $2,120 4.37%
    Other 35 $1,655,000 $47,286 $854 6.32%
    Cash Out Refi 35 $3,005,000 $85,857 $1,843 4.06%
    Home Improvement 18 $600,000 $33,333 $712 6.59%
    Refi 15 $1,555,000 $103,667 $1,801 3.79%

    For 2019, United Bay Community Credit Union's most frequently cited loan purpose was Home Purchase, with 41 originations. The 2nd most popular reason was Other, with 35 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 53 $6,375,000 $120,283 $2,092 4.25%
    15 Year 45 $2,905,000 $64,556 $1,217 5.41%
    10 Year 30 $1,140,000 $38,000 $989 5.73%
    20 Year 16 $1,280,000 $80,000 $1,919 4.86%

    For 2019, United Bay Community Credit Union's most frequently cited loan duration was 30 Year, with 53 originations. The 2nd most popular length was 15 Year, with 45 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 127 $10,325,000 $81,299
    $1k-2k 7 $555,000 $79,286
    $2k-3k 3 $375,000 $125,000
    $3k-4k 1 $235,000 $235,000

    United Bay Community Credit Union's average total fees were $2,092, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 127 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    3-4% 60 $5,950,000 $99,167
    4-5% 36 $3,510,000 $97,500
    6-7% 18 $790,000 $43,889
    5-6% 14 $1,020,000 $72,857
    Over 8% 10 $260,000 $26,000
    7-8% 6 $170,000 $28,333

    During 2019, United Bay Community Credit Union's average interest rate for loans was 4.25%, while their most frequently originated rate bucket for loans was 3-4%, with 60 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 99 $4,905,000 $49,545 $1,266 5.32%
    $100k-200k 39 $5,355,000 $137,308 $2,079 4.26%
    $200k-400k 6 $1,440,000 $240,000 $2,736 4.31%

    2019 saw United Bay Community Credit Union place emphasis on $100,000 or less loans with 99 originations, totaling $4,905,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k or less 47 $2,905,000 $61,809 $1,395 5.00%
    $50k-75k 45 $3,085,000 $68,556 $1,482 5.32%
    $75k-100k 25 $2,475,000 $99,000 $1,710 4.55%
    $100k-150k 19 $2,295,000 $120,789 $1,950 4.70%
    $150k-250k 4 $550,000 $137,500 $2,142 4.47%
    $250k+ 4 $390,000 $97,500 $1,235 5.75%

    United Bay Community Credit Union lent most frequently to those with incomes in the $50k or less range, with 47 originations. The second most popular income band? $50k-75k, with 45 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 33 $2,955,000 $89,545 $1,724 4.63%
    <20% 30 $2,270,000 $75,667 $1,485 4.91%
    30-36% 28 $1,990,000 $71,071 $1,567 5.12%
    48% 6 $580,000 $96,667 $1,393 5.12%
    38% 6 $400,000 $66,667 $1,125 5.33%
    43% 6 $600,000 $100,000 $1,333 5.68%
    45% 5 $365,000 $73,000 $872 5.82%
    40% 5 $485,000 $97,000 $1,958 4.73%
    36% 5 $465,000 $93,000 $2,241 5.05%
    37% 5 $415,000 $83,000 $1,872 4.82%
    41% 4 $140,000 $35,000 $1,002 5.41%
    42% 4 $360,000 $90,000 $1,097 6.22%
    47% 3 $335,000 $111,667 $2,155 4.29%
    39% 3 $175,000 $58,333 $1,883 4.25%
    44% 1 $165,000 $165,000 $1,647 4.00%

    United Bay Community Credit Union lent most frequently to those with DTI ratios of 20-30%, with 33 originations. The next most common DTI ratio? <20%, with 30 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 141 $11,515,000 $81,667 $1,571 4.95%
    Black 3 $185,000 $61,667 $790 6.54%

    Approval Rates

    Total approvals of all applications
    80.78%

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

    Pick Rate

    Approvals leading to origination
    72.92%

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

    Points and Fees

    Points Originations Total Value Average Loan
    NA 144 $11,700,000 $81,250

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Single Family (1-4 Units):Manufactured 6 $430,000 $71,667
    Single Family (1-4 Units):Site-Built 138 $11,270,000 $81,667

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 28 $1,230,000 $43,929 $815 6.25%
    40-60% 20 $1,780,000 $89,000 $1,921 4.10%
    60-80% 40 $4,050,000 $101,250 $1,965 4.18%
    80-100% 39 $4,265,000 $109,359 $1,919 4.56%
    Over 100% 1 $35,000 $35,000 $812 3.88%
    Under 20% 16 $340,000 $21,250 $329 7.00%

    Complaints

    Bank Name Product Issue 2019 CPFB Complaints % of Total Issues
    UNITED COMMUNITY BANK Conventional home mortgage Struggling to pay mortgage 1 100.0%