Total Community Credit Union Mortgage Rates, Fees & Info
Taylor, MILEI: 254900GXV94B2NZXS107
Tax ID: 38-1644983
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Mortgage Data
Review & Overview
Total Community Credit Union is a smaller credit union specializing in Home Improvement and Refi loans. They have a a high proportion of FHA 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 above average approval rate when compared to the average across all lenders. They have a below average pick rate when compared to similar lenders.
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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| 30 Year Conventional Purchase | 6.82% | 10/13/24 |
| 30 Year Conventional Refi | 6.37% | 10/13/24 |
| 30 Year Cash-out Refi | 6.62% | 10/13/24 |
| 15 Year Conventional Purchase | 6.25% | 10/13/24 |
| 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
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
11Origination Dollar Volume (All Markets)
$375,000Top 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) | 10 | $350,000 | $35,000 | $0 | 7.47% |
| MONROE, MI (FHA|USDA|VA) | 1 | $25,000 | $25,000 | $0 | 7.25% |
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.
Similarity Rank: 32
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Similarity Rank: 700
Similarity Rank: 735
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Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| FHA | 6 | $140,000 | $23,333 | $0 | 8.54% |
| Conventional | 5 | $235,000 | $47,000 | $0 | 6.14% |
For 2018, Total Community Credit Union's most frequently originated type of loan was FHA, with 6 originations. Their 2nd most popular type was Conventional, with 5 originations.
Loan Reason
| Loan Reason | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Home Improvement | 9 | $225,000 | $25,000 | $0 | 7.77% |
| Refi | 2 | $150,000 | $75,000 | $0 | 6.03% |
For 2018, Total Community Credit Union's most frequently cited loan purpose was Home Improvement, with 9 originations. The 2nd most popular reason was Refi, with 2 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| 10 Year | 7 | $175,000 | $25,000 | $0 | 6.82% |
| 15 Year | 3 | $185,000 | $61,667 | $0 | 6.73% |
| Other | 1 | $15,000 | $15,000 | $0 | 13.99% |
For 2018, Total Community Credit Union's most frequently cited loan duration was 10 Year, with 7 originations. The 2nd most popular length was 15 Year, with 3 originations.
Origination Fees/Closing Costs
| Origination Fee/Closing Cost | Originations | Total Value | Average Loan |
|---|---|---|---|
| $<1k | 11 | $375,000 | $34,091 |
Total Community Credit Union's average total fees were $0, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 11 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 7-8% | 5 | $125,000 | $25,000 |
| 5-6% | 3 | $125,000 | $41,667 |
| Over 8% | 2 | $50,000 | $25,000 |
| 6-7% | 1 | $75,000 | $75,000 |
During 2018, Total Community Credit Union's average interest rate for loans was 0.00%, while their most frequently originated rate bucket for loans was 7-8%, with 5 originations.
Loan Sizing
| Loan Size | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| $100,000 or less | 11 | $375,000 | $34,091 | $0 | 7.45% |
2018 saw Total Community Credit Union place emphasis on $100,000 or less loans with 11 originations, totaling $375,000 in origination value.
Applicant Income
Total Community Credit Union lent most frequently to those with incomes in the $100k-150k range, with 3 originations. The second most popular income band? $50k-75k, with 3 originations.
Applicant Debt to Income Ratio
Total Community Credit Union lent most frequently to those with DTI ratios of 30-36%, with 4 originations. The next most common DTI ratio? <20%, with 3 originations.
Ethnicity Mix
| Applicant Ethnicity | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| White | 9 | $325,000 | $36,111 | $0 | 7.44% |
| Black | 1 | $25,000 | $25,000 | $0 | 7.25% |
| Not provided | 1 | $25,000 | $25,000 | $0 | 7.75% |
Approval Rates
Total approvals of all applications100.00%
Total 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 origination63.64%
Total 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 |
|---|---|---|---|
| 0.0 | 1 | $15,000 | $15,000 |
| 132.5 | 4 | $110,000 | $27,500 |
| 140.5 | 1 | $25,000 | $25,000 |
| 162.5 | 1 | $25,000 | $25,000 |
| 218.0 | 1 | $75,000 | $75,000 |
| 218.5 | 1 | $75,000 | $75,000 |
| 7.5 | 2 | $50,000 | $25,000 |