Kellogg Community Credit Union Mortgage Rates, Fees & Info

Battle Creek, MI

LEI: 254900CDUILFTCPB7H89

Tax ID: 38-6060726

5 stars - out of 5 stars, based on 29 reviews

2021 Data | 2020 Data | 2019 Data | 2018 Data


Overview

Kellogg Community Credit Union is a smaller credit union specializing in Home Purchase, Refi, and Cash Out Refi loans. Kellogg Community Credit Union has a high proportion of conventional loans. They have a low ratio of USDA loans. Their top markets include Battle Creek, Kalamazoo, Sturgis, Grand Rapids, and Lansing among others. Kellogg Community Credit Union has an above average approval rate for mortages when compared nationally. They have an average pick rate when compared to the same sample of other lendors. Kellogg Community Credit Union is typically a low fee lendor.


Originations

814

Origination Dollar Volume (All Markets)

$112,240,000
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Relative Rate

Kellogg Community Credit Union's average 30 year fixed rate mortgage of loans were 3.37%.

The 2021 average 30 year fixed rate mortgage across all markets of loans were 3.15%.

This yields a difference of 0.22%.

Relative Fees

Kellogg Community Credit Union's average total fees for a 30 year fixed rate mortgage are $2,361.

The average total origination fees for 30 year fixed rate mortgages (for all loan values, including both points & up-front fees in addition to origination fees) are $4,750.

Top Markets

Market Originations Total Value Average Loan Average Fees Average Rate
BATTLE CREEK, MI (FHA|USDA|VA) 466 $56,850,000 $121,996 $1,858 3.78%
KALAMAZOO-PORTAGE, MI (FHA|USDA|VA) 160 $27,230,000 $170,188 $2,119 3.55%
Outside of Metro Areas 56 $10,260,000 $183,214 $2,583 3.55%
Sturgis, MI (FHA|USDA|VA) 48 $4,930,000 $102,708 $1,738 3.91%
GRAND RAPIDS-KENTWOOD, MI (FHA|USDA|VA) 24 $3,280,000 $136,667 $1,693 4.02%
LANSING-EAST LANSING, MI (FHA|USDA|VA) 17 $2,015,000 $118,529 $1,921 3.45%
Coldwater, MI (FHA|USDA|VA) 13 $1,905,000 $146,538 $1,905 3.73%
Holland, MI (FHA|USDA|VA) 9 $1,315,000 $146,111 $2,098 3.49%
MUSKEGON, MI (FHA|USDA|VA) 2 $1,110,000 $555,000 $3,051 2.94%
Traverse City, MI (FHA|USDA|VA) 3 $915,000 $305,000 $2,708 3.38%
SOUTH BEND-MISHAWAKA, IN-MI (FHA|USDA|VA) 4 $730,000 $182,500 $1,341 3.00%
JACKSON, MI (FHA|USDA|VA) 3 $485,000 $161,667 $2,457 3.50%
Detroit-Warren-Dearborn, MI (FHA|USDA|VA) 4 $420,000 $105,000 $2,026 3.13%
Hillsdale, MI (FHA|USDA|VA) 2 $260,000 $130,000 $2,346 3.38%
Mount Pleasant, MI (FHA|USDA|VA) 1 $225,000 $225,000 $2,582 3.50%
Cadillac, MI (FHA|USDA|VA) 1 $165,000 $165,000 $1,885 2.38%
Ludington, MI (FHA|USDA|VA) 1 $145,000 $145,000 $2,242 3.13%

Kellogg Community Credit Union's top markets include Battle Creek, Kalamazoo, Sturgis, Grand Rapids, and Lansing among others.

Product Mix

Loan Type Originations Total Value Average Loan Average Fees Average Rate
Conventional 813 $112,055,000 $137,829 $1,956 3.71%
USDA 1 $185,000 $185,000 $4,107 3.00%

For the 2021 period, Kellogg Community Credit Union's most frequently originated loan type of loans were Conventional, with 813 originations. Their 2nd most popular type is USDA, with 1 originations.

Loan Reason

Loan Reason Originations Total Value Average Loan Average Fees Average Rate
Home Purchase 256 $46,310,000 $180,898 $2,504 3.45%
Refi 228 $27,190,000 $119,254 $1,636 3.69%
Cash Out Refi 205 $32,535,000 $158,707 $2,294 3.31%
Home Improvement 113 $4,735,000 $41,903 $270 5.07%
Other 12 $1,470,000 $122,500 $2,086 3.32%

For the 2021, Kellogg Community Credit Union's most frequently cited loan purpose of loans were Home Purchase, with 256 originations. The 2nd most popular reason of loans were Refi, with 228 originations.

Loan Duration/Length

Loan Length Originations Total Value Average Loan Average Fees Average Rate
30 Year 345 $62,675,000 $181,667 $2,361 3.37%
15 Year 185 $20,765,000 $112,243 $1,714 4.01%
10 Year 93 $7,175,000 $77,151 $1,176 4.25%
20 Year 90 $13,490,000 $149,889 $2,260 3.32%
5 Year 52 $3,990,000 $76,731 $1,324 4.76%
Other 43 $2,775,000 $64,535 $535 3.50%
30+ year 5 $1,355,000 $271,000 $4,333 3.48%
3 Year 1 $15,000 $15,000 $0 3.75%

For the 2021, Kellogg Community Credit Union's most frequently cited loan length of loans were 30 Year, with 345 originations. The 2nd most popular length of loans were 15 Year, with 185 originations.

Origination Fees

Origination Fee Originations Total Value Average Loan
$1k-2k 346 $52,580,000 $151,965
$<1k 320 $50,860,000 $158,938
$3k-4k 7 $1,395,000 $199,286
$2k-3k 3 $375,000 $125,000
$5k+ 2 $800,000 $400,000

$2,361 of loans were Kellogg Community Credit Union's average total fees, while their most frequently occuring range of origination fees were in the $1k-2k bucket, with 346 originations.

Interest Rates

Loan Rate Originations Total Value Average Loan
3-4% 409 $62,285,000 $152,286
2.5-3% 191 $28,375,000 $148,560
4-5% 90 $9,310,000 $103,444
<2.5% 59 $8,655,000 $146,695
Over 8% 33 $1,475,000 $44,697
5-6% 25 $1,925,000 $77,000
6-7% 4 $170,000 $42,500
7-8% 3 $45,000 $15,000

During 2021, Kellogg Community Credit Union's average interest rate of loans were 3.37%, while their most frequently originated rate bucket of loans were 3-4%, with 409 originations.

Loan Sizing

Loan Size Originations Total Value Average Loan Average Fees Average Rate
$100,000 or less 334 $17,690,000 $52,964 $1,238 4.28%
$100k-200k 322 $45,980,000 $142,795 $2,188 3.32%
$200k-400k 135 $36,345,000 $269,222 $2,692 3.31%
$400k-600k 19 $8,905,000 $468,684 $3,462 3.21%
$600k-1MM 3 $2,295,000 $765,000 $3,687 3.33%
$1MM+ 1 $1,025,000 $1,025,000 $3,957 3.13%

2021 saw Kellogg Community Credit Union place emphasis on $100,000 or less loans with 334 originations, totaling $17,690,000 in origination value.

Applicant Income

Applicant Income Originations Total Value Average Loan Average Fees Average Rate
$50k or less 223 $19,475,000 $87,332 $1,701 3.92%
$50k-75k 201 $22,755,000 $113,209 $1,888 3.86%
$75k-100k 144 $21,000,000 $145,833 $2,080 3.53%
$100k-150k 143 $24,145,000 $168,846 $2,019 3.52%
$150k-250k 77 $17,175,000 $223,052 $2,375 3.33%
$250k+ 17 $6,395,000 $376,176 $2,731 3.61%

Kellogg Community Credit Union lent most frequently to those with incomes in the $50k or less range, with 223 originations. The second most popular income band? $50k-75k, with 201 originations.

Applicant Debt to Income Ratio

DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
20-30% 220 $28,010,000 $127,318 $1,765 3.74%
30-36% 162 $20,600,000 $127,160 $1,844 3.77%
<20% 127 $15,445,000 $121,614 $1,881 3.54%
38% 28 $4,120,000 $147,143 $2,126 3.57%
39% 28 $4,590,000 $163,929 $2,660 3.56%
37% 27 $4,015,000 $148,704 $2,079 3.80%
36% 24 $4,920,000 $205,000 $2,316 3.52%
47% 23 $3,155,000 $137,174 $2,135 3.26%
41% 23 $3,565,000 $155,000 $2,304 3.47%
42% 21 $4,365,000 $207,857 $2,183 3.79%
44% 19 $2,635,000 $138,684 $2,119 4.21%
50-60% 19 $2,425,000 $127,632 $2,028 4.54%
40% 18 $2,960,000 $164,444 $2,019 3.98%
43% 17 $2,895,000 $170,294 $2,438 3.43%
45% 14 $2,220,000 $158,571 $2,137 3.40%
48% 12 $2,320,000 $193,333 $2,714 3.76%
49% 8 $740,000 $92,500 $1,824 3.81%
46% 7 $1,155,000 $165,000 $1,811 3.34%
>60% 7 $1,005,000 $143,571 $2,257 4.39%

Kellogg Community Credit Union lent most frequently to those with DTI ratios of 20-30%, with 220 originations. The next most common DTI ratio? 30-36%, with 162 originations.

Ethnicity Mix

Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
White 737 $100,585,000 $136,479 $1,952 3.70%
Not provided 39 $7,075,000 $181,410 $2,225 3.61%
Black 25 $2,695,000 $107,800 $1,542 4.18%
Not applicable 4 $620,000 $155,000 $0 4.94%
Asian Indian 1 $585,000 $585,000 $11,481 2.00%
Asian 6 $400,000 $66,667 $1,004 3.41%
Native Hawaiian 1 $175,000 $175,000 $1,928 2.50%
American Indian 1 $105,000 $105,000 $1,890 3.88%

Approval Rates

Total approvals of all applications
98.86%

Kellogg Community Credit Union has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.

Pick Rate

Approvals leading to origination
90.28%

Kellogg Community Credit Union has an average pick rate.

Points and Fees

Points Originations Total Value Average Loan
NA 814 $112,240,000 $137,887

Occupancy Type Mix

Dwelling Type Originations Total Value Average Loan
814 $112,240,000 $137,887

LTV Distribution

Loan to Value Originations Total Value Average Loan Average Fees Average Rate
20-40% 91 $6,035,000 $66,319 $1,104 4.11%
40-60% 147 $19,055,000 $129,626 $1,957 3.50%
60-80% 273 $41,265,000 $151,154 $2,178 3.57%
80-100% 228 $43,680,000 $191,579 $2,434 3.53%
Over 100% 1 $285,000 $285,000 $2,987 4.13%
Under 20% 74 $1,920,000 $25,946 $194 4.67%