Total Community Credit Union Mortgage Rates, Fees & Info

Taylor, MI

LEI: 254900GXV94B2NZXS107

Tax ID: 38-1644983

5 stars - Updated: 5/20/24 - out of 5 stars, based on 5 reviews

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

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Mortgage Data

Review & Overview

Total Community Credit Union is a smaller credit union specializing in Other and Cash Out Refi loans. Total Community Credit Union has a high proportion of conventional loans. Their top two markets are Detroit and Monroe .

Total Community Credit Union has an average approval rate when compared to the average across all lenders. They have an average pick rate when compared to similar lenders. Total 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 relatively high 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.

Mortgage seekers: Choose your metro area here to explore the lowest fee & rate lenders.

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SimulatedRates™

Mortgage Type
Simulated Rate Simulation Date
30 Year Conventional Purchase 6.82% 5/20/24
30 Year Conventional Refi 6.37% 5/20/24
30 Year Cash-out Refi 6.62% 5/20/24
15 Year Conventional Purchase 6.25% 5/20/24
These are simulated rates generated by our proprietary machine learning models. These are not guaranteed by the bank. They are our estimates based on a lender's past behaviors combined with current market conditions. Contact an individual lender for their actual rates. Our models use fixed rate terms for conforming loans, 700+ FICO, 10% down for FHA and 20% for conventional. These are based on consensus, historical data-- not advertised promotional rates.

Total Community Credit Union Mortgage Calculator






Your Estimates

Estimated Loan Payment: Update the calculator values and click calculate payment!

This is not an official calculator from Total Community Credit Union. It uses our SimulatedRate™ technology, basic math and reasonable assumptions to calculate mortgage payments derived from our simulations and your inputs.

The default purchase price is the median sales price across the US for 2022Q4, per FRED.


Originations

26

Origination Dollar Volume (All Markets)

$1,670,000

Awards

Total Community Credit Union 30 Year Conventional Loans gold Total Community Credit Union 30 Year Conventional Loans gold
Show all (2) awards

Relative Rate

Total Community Credit Union's average 30 year fixed mortgage rate was 6.58%.

The 2023 average 30 year fixed rate mortgage across all markets and lenders was 6.48%.

This yields a difference of 0.1%.

Relative Fees (Closing Costs)

Total Community Credit Union's average total fees/closing costs for a 30 year fixed rate mortgage were $2,646.

The average total origination fees for 30 year fixed rate mortgages across all lenders (for all loan values, including both points & up-front fees in addition to origination fees) were $9,089.

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
Detroit-Warren-Dearborn, MI (FHA|USDA|VA) 23 $1,505,000 $65,435 $1,266 7.63%
MONROE, MI (FHA|USDA|VA) 3 $165,000 $55,000 $0 8.16%
Total Community Credit Union's top markets include Detroit and Monroe among others.

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

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

    Michigan Legacy Credit Union
    Similarity Rank: 15
    Total Community Credit Union
    Similarity Rank: 94
    St James Mortgage Corporation
    Similarity Rank: 104
    MEMBERFOCUS COMMUNITY
    Similarity Rank: 162
    Dearborn Federal Savings Bank
    Similarity Rank: 184
    MICHIGAN SCHOOLS AND GOVERNMENT
    Similarity Rank: 414
    SECURITY CREDIT UNION
    Similarity Rank: 450
    ALLIANCE CATHOLIC CREDIT UNION
    Similarity Rank: 537
    Bank of Ann Arbor
    Similarity Rank: 738

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 26 $1,670,000 $64,231 $1,120 7.69%

    For 2023, Total Community Credit Union's most frequently originated type of loan was Conventional, with 26 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Other 9 $345,000 $38,333 $0 8.41%
    Cash Out Refi 8 $770,000 $96,250 $2,611 6.55%
    Home Improvement 6 $260,000 $43,333 $0 8.66%
    Refi 2 $160,000 $80,000 $2,492 6.75%
    Home Purchase 1 $135,000 $135,000 $3,235 6.50%

    For 2023, Total Community Credit Union's most frequently cited loan purpose was Other, with 9 originations. The 2nd most popular reason was Cash Out Refi, with 8 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    10 Year 15 $605,000 $40,333 $0 8.51%
    30 Year 11 $1,065,000 $96,818 $2,646 6.58%

    For 2023, Total Community Credit Union's most frequently cited loan duration was 10 Year, with 15 originations. The 2nd most popular length was 30 Year, with 11 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 26 $1,670,000 $64,231

    Total Community Credit Union's average total fees were $2,646, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 26 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    Over 8% 13 $515,000 $39,615
    6-7% 9 $885,000 $98,333
    7-8% 3 $185,000 $61,667
    5-6% 1 $85,000 $85,000

    During 2023, Total Community Credit Union's average interest rate for loans was 6.58%, while their most frequently originated rate bucket for loans was Over 8%, with 13 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 21 $1,065,000 $50,714 $730 7.98%
    $100k-200k 5 $605,000 $121,000 $2,758 6.48%

    2023 saw Total Community Credit Union place emphasis on $100,000 or less loans with 21 originations, totaling $1,065,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 7 $605,000 $86,429 $1,943 7.09%
    $50k or less 7 $455,000 $65,000 $1,826 7.30%
    $100k-150k 6 $300,000 $50,000 $0 8.33%
    $75k-100k 4 $230,000 $57,500 $682 7.96%
    $150k-250k 2 $80,000 $40,000 $0 8.74%

    Total Community Credit Union lent most frequently to those with incomes in the $50k-75k range, with 7 originations. The second most popular income band? $50k or less, with 7 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    30-36% 6 $420,000 $70,000 $1,409 7.62%
    20-30% 4 $310,000 $77,500 $1,339 7.65%
    39% 3 $195,000 $65,000 $1,721 7.13%
    42% 2 $120,000 $60,000 $1,280 7.37%
    44% 2 $130,000 $65,000 $1,241 7.50%
    46% 2 $80,000 $40,000 $0 8.62%
    <20% 1 $55,000 $55,000 $0 7.25%
    49% 1 $35,000 $35,000 $0 8.74%
    36% 1 $55,000 $55,000 $0 8.49%
    37% 1 $105,000 $105,000 $2,483 6.50%
    38% 1 $25,000 $25,000 $0 8.49%
    40% 1 $95,000 $95,000 $2,613 7.38%
    43% 1 $45,000 $45,000 $0 8.49%

    Total Community Credit Union lent most frequently to those with DTI ratios of 30-36%, with 6 originations. The next most common DTI ratio? 20-30%, with 4 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 24 $1,610,000 $67,083 $1,213 7.60%
    Not provided 2 $60,000 $30,000 $0 8.74%

    Approval Rates

    Total approvals of all applications
    86.05%

    Total Community Credit Union has an average approval rate.

    Pick Rate

    Approvals leading to origination
    92.31%

    Total Community Credit Union has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 26 $1,670,000 $64,231

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    26 $1,670,000 $64,231

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 9 $445,000 $49,444 $560 7.93%
    40-60% 5 $445,000 $89,000 $2,582 6.58%
    60-80% 4 $500,000 $125,000 $2,790 6.53%
    Under 20% 8 $280,000 $35,000 $0 8.71%