Circle Federal Credit Union Mortgage Rates, Fees & Info
Niles, MILEI: 254900LXHR6OP0TSZ915
Tax ID: 38-1565948
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Mortgage Data
Review & Overview
Circle Federal Credit Union is a smaller credit union specializing in Other and Home Purchase loans. Circle Federal Credit Union has a high proportion of conventional loans. They have a low ratio of USDA loans. Their top markets by origination volume include: South Bend, Niles, Elkhart, Sturgis, and Kalamazoo among others. We have data for 6 markets. (Some data included below & more in-depth data is available with an active subscription.)Circle Federal 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. Circle Federal 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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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| Home Equity Line of Credit (HELOC) | 6.83% | 12/16/24 |
| 30 Year Conventional Purchase | 6.42% | 12/16/24 |
| 30 Year Conventional Refi | 6.30% | 12/16/24 |
| 30 Year Cash-out Refi | 6.11% | 12/16/24 |
| 30 Year USDA Purchase | 7.34% | 12/16/24 |
| 15 Year Conventional Purchase | 6.15% | 12/16/24 |
| 15 Year Conventional Refi | 7.03% | 12/16/24 |
| 15 Year Cash-out Refi | 7.03% | 12/16/24 |
| 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. | ||
Circle Federal Credit Union Mortgage Calculator
Your Estimates
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This is not an official calculator from Circle Federal Credit Union. It uses our SimulatedRate™
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
133Origination Dollar Volume (All Markets)
$14,605,000Top 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 |
|---|---|---|---|---|---|
| SOUTH BEND-MISHAWAKA, IN-MI (FHA|USDA|VA) | 93 | $11,355,000 | $122,097 | $981 | 4.27% |
| NILES, MI (FHA|USDA|VA) | 32 | $2,000,000 | $62,500 | $830 | 4.38% |
| ELKHART-GOSHEN, IN (FHA|USDA|VA) | 4 | $760,000 | $190,000 | $1,028 | 4.10% |
| Outside of Metro Areas | 2 | $310,000 | $155,000 | $1,091 | 4.25% |
| Sturgis, MI (FHA|USDA|VA) | 1 | $165,000 | $165,000 | $0 | 4.25% |
| KALAMAZOO-PORTAGE, MI (FHA|USDA|VA) | 1 | $15,000 | $15,000 | $0 | 3.90% |
Similar Lenders
We use machine learning to identify the top lenders compared against Circle Federal Credit Union based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.
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Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 73 | $10,145,000 | $138,973 | $947 | 4.17% |
| HELOC | 59 | $4,295,000 | $72,797 | n/a | 4.43% |
| USDA | 1 | $165,000 | $165,000 | $0 | 4.25% |
For 2018, Circle Federal Credit Union's most frequently originated type of loan was Conventional, with 73 originations. Their 2nd most popular type was HELOC, with 59 originations.
Loan Reason
For 2018, Circle Federal Credit Union's most frequently cited loan purpose was Other, with 70 originations. The 2nd most popular reason was Home Purchase, with 36 originations.
Loan Duration/Length
For 2018, Circle Federal Credit Union's most frequently cited loan duration was 10 Year, with 70 originations. The 2nd most popular length was 5 Year, with 32 originations.
Origination Fees/Closing Costs
| Origination Fee/Closing Cost | Originations | Total Value | Average Loan |
|---|---|---|---|
| $<1k | 74 | $10,310,000 | $139,324 |
Circle Federal Credit Union's average total fees were $500, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 74 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 4-5% | 78 | $7,300,000 | $93,590 |
| 3-4% | 50 | $6,750,000 | $135,000 |
| 5-6% | 5 | $555,000 | $111,000 |
During 2018, Circle Federal Credit Union's average interest rate for loans was 4.50%, while their most frequently originated rate bucket for loans was 4-5%, with 78 originations.
Loan Sizing
2018 saw Circle Federal Credit Union place emphasis on $100,000 or less loans with 75 originations, totaling $3,225,000 in origination value.
Applicant Income
Circle Federal Credit Union lent most frequently to those with incomes in the $50k or less range, with 42 originations. The second most popular income band? $75k-100k, with 30 originations.
Applicant Debt to Income Ratio
Circle Federal Credit Union lent most frequently to those with DTI ratios of 20-30%, with 47 originations. The next most common DTI ratio? 30-36%, with 18 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications87.56%
Circle Federal Credit Union has an average approval rate.
Pick Rate
Approvals leading to origination57.14%
Circle Federal 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 | 133 | $14,605,000 | $109,812 |
Occupancy Type Mix
| Dwelling Type | Originations | Total Value | Average Loan |
|---|---|---|---|
| Single Family (1-4 Units):Manufactured | 4 | $150,000 | $37,500 |
| Single Family (1-4 Units):Site-Built | 129 | $14,455,000 | $112,054 |
LTV Distribution
Complaints
| Bank Name | Product | Issue | 2018 CPFB Complaints | % of Total Issues |
|---|---|---|---|---|
| Chrysalis Holdings LLC | Conventional home mortgage | Applying for a mortgage or refinancing an existing mortgage | 1 | 7.1% |
| Chrysalis Holdings LLC | Home equity loan or line of credit (HELOC) | Applying for a mortgage or refinancing an existing mortgage | 1 | 7.1% |
| Chrysalis Holdings LLC | Other type of mortgage | Trouble during payment process | 1 | 7.1% |
| Chrysalis Holdings LLC | VA mortgage | Applying for a mortgage or refinancing an existing mortgage | 8 | 57.1% |
| Chrysalis Holdings LLC | VA mortgage | Closing on a mortgage | 3 | 21.4% |