Circle Federal Credit Union Mortgage Rates, Fees & Info

Niles, MI

LEI: 254900LXHR6OP0TSZ915

Tax ID: 38-1565948

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

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  • SimulatedRates™
  • Mortgage Calculator

    • 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

    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, Chicago, Colorado Springs, and Elkhart among others. We have data for 9 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Circle Federal 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. 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.

    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
    Home Equity Line of Credit (HELOC) 6.83% 5/4/24
    30 Year Conventional Purchase 6.42% 5/4/24
    30 Year Conventional Refi 6.30% 5/4/24
    30 Year Cash-out Refi 6.11% 5/4/24
    30 Year USDA Purchase 7.34% 5/4/24
    15 Year Conventional Purchase 6.15% 5/4/24
    15 Year Conventional Refi 7.03% 5/4/24
    15 Year Cash-out Refi 7.03% 5/4/24
    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

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

    This is not an official calculator from Circle Federal 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

    255

    Origination Dollar Volume (All Markets)

    $27,715,000

    Awards

    Circle Federal Credit Union 30 Year Conventional Loans silver
    Show all (1) 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
    SOUTH BEND-MISHAWAKA, IN-MI (FHA|USDA|VA) 175 $20,145,000 $115,114 $1,736 4.27%
    NILES, MI (FHA|USDA|VA) 64 $5,010,000 $78,281 $1,572 4.30%
    Chicago-Naperville-Elgin, IL-IN-WI (FHA|USDA|VA) 5 $1,175,000 $235,000 $1,733 4.15%
    COLORADO SPRINGS, CO (FHA|USDA|VA) 1 $425,000 $425,000 $2,633 4.13%
    ELKHART-GOSHEN, IN (FHA|USDA|VA) 4 $350,000 $87,500 $3,623 4.33%
    Outside of Metro Areas 3 $305,000 $101,667 $2,335 4.33%
    North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) 1 $145,000 $145,000 $2,366 4.00%
    INDIANAPOLIS-CARMEL-ANDERSON, IN (FHA|USDA|VA) 1 $95,000 $95,000 $0 4.50%
    Sturgis, MI (FHA|USDA|VA) 1 $65,000 $65,000 $1,340 4.75%
    Circle Federal Credit Union's top markets include South Bend, Niles, Chicago, Colorado Springs, and Elkhart among others.

    Their top states include:
  • Michigan (FHA|USDA|VA)
  • Indiana (FHA|USDA|VA)
  • Illinois (FHA|USDA|VA)
  • Colorado (FHA|USDA|VA)
  • Florida (FHA|USDA|VA)

    • 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.

    Circle Federal Credit Union
    Similarity Rank: 243
    INTERRA CREDIT UNION
    Similarity Rank: 252
    CONSUMERS
    Similarity Rank: 744
    INOVA FEDERAL CREDIT UNION
    Similarity Rank: 833
    MutualBank
    Similarity Rank: 901
    Lake City Bank
    Similarity Rank: 990
    TEACHERS CREDIT UNION
    Similarity Rank: 1173
    Independent Bank
    Similarity Rank: 2240
    First Federal Savings Bank
    Similarity Rank: 2244
    1st Source Bank
    Similarity Rank: 2346

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 146 $20,140,000 $137,945 $1,700 4.19%
    HELOC 106 $7,190,000 $67,830 n/a 4.39%
    USDA 3 $385,000 $128,333 $3,509 4.67%

    For 2019, Circle Federal Credit Union's most frequently originated type of loan was Conventional, with 146 originations. Their 2nd most popular type was HELOC, with 106 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Other 118 $7,570,000 $64,153 $784 4.40%
    Home Purchase 85 $13,005,000 $153,000 $2,106 4.18%
    Cash Out Refi 26 $2,980,000 $114,615 $1,397 4.22%
    Refi 19 $3,515,000 $185,000 $1,700 3.97%
    Home Improvement 7 $645,000 $92,143 $817 4.54%

    For 2019, Circle Federal Credit Union's most frequently cited loan purpose was Other, with 118 originations. The 2nd most popular reason was Home Purchase, with 85 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    10 Year 108 $7,520,000 $69,630 $1,364 4.49%
    30 Year 57 $9,625,000 $168,860 $2,381 4.26%
    5 Year 50 $6,200,000 $124,000 $1,217 3.98%
    15 Year 26 $2,470,000 $95,000 $1,274 4.18%
    Other 9 $1,255,000 $139,444 $1,669 3.89%
    20 Year 4 $520,000 $130,000 $1,633 4.25%
    1 Year 1 $125,000 $125,000 $1,092 4.00%

    For 2019, Circle Federal Credit Union's most frequently cited loan duration was 10 Year, with 108 originations. The 2nd most popular length was 30 Year, with 57 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 141 $18,765,000 $133,085
    $1k-2k 4 $680,000 $170,000
    $2k-3k 2 $580,000 $290,000
    $3k-4k 2 $500,000 $250,000

    Circle Federal Credit Union's average total fees were $2,381, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 141 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    4-5% 160 $13,580,000 $84,875
    3-4% 93 $13,965,000 $150,161
    5-6% 2 $170,000 $85,000

    During 2019, Circle Federal Credit Union's average interest rate for loans was 4.26%, while their most frequently originated rate bucket for loans was 4-5%, with 160 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 144 $6,790,000 $47,153 $1,388 4.38%
    $100k-200k 74 $9,900,000 $133,784 $1,713 4.20%
    $200k-400k 31 $8,325,000 $268,548 $2,514 4.04%
    $400k-600k 6 $2,700,000 $450,000 $1,913 3.98%

    2019 saw Circle Federal Credit Union place emphasis on $100,000 or less loans with 144 originations, totaling $6,790,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k or less 74 $4,840,000 $65,405 $1,593 4.33%
    $50k-75k 56 $5,450,000 $97,321 $1,718 4.29%
    $75k-100k 48 $5,170,000 $107,708 $1,536 4.23%
    $100k-150k 37 $5,785,000 $156,351 $1,930 4.25%
    $150k-250k 29 $4,705,000 $162,241 $2,421 4.21%
    $250k+ 8 $1,520,000 $190,000 $1,745 4.22%

    Circle Federal Credit Union lent most frequently to those with incomes in the $50k or less range, with 74 originations. The second most popular income band? $50k-75k, with 56 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 81 $8,775,000 $108,333 $1,689 4.25%
    30-36% 42 $4,320,000 $102,857 $1,774 4.24%
    <20% 29 $2,255,000 $77,759 $1,484 4.25%
    41% 12 $1,590,000 $132,500 $2,033 4.31%
    36% 11 $1,525,000 $138,636 $1,299 4.28%
    >60% 10 $690,000 $69,000 $875 4.42%
    39% 10 $1,110,000 $111,000 $1,604 4.41%
    40% 10 $1,510,000 $151,000 $2,282 4.45%
    37% 9 $1,055,000 $117,222 $1,620 4.43%
    38% 8 $1,000,000 $125,000 $2,053 4.39%
    42% 6 $740,000 $123,333 $1,902 4.27%
    47% 4 $490,000 $122,500 $1,476 4.04%
    50-60% 4 $220,000 $55,000 $0 4.05%
    46% 3 $415,000 $138,333 $2,462 4.04%
    43% 3 $655,000 $218,333 $1,755 4.08%
    44% 3 $275,000 $91,667 $2,586 4.21%
    45% 3 $365,000 $121,667 $1,183 4.25%
    48% 2 $320,000 $160,000 $3,705 4.06%
    49% 2 $160,000 $80,000 $0 4.50%

    Circle Federal Credit Union lent most frequently to those with DTI ratios of 20-30%, with 81 originations. The next most common DTI ratio? 30-36%, with 42 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 210 $23,440,000 $111,619 $1,718 4.28%
    Not provided 40 $3,840,000 $96,000 $1,980 4.25%
    Black 4 $390,000 $97,500 $776 4.34%
    American Indian 1 $45,000 $45,000 $2,468 4.00%

    Approval Rates

    Total approvals of all applications
    90.99%

    Circle Federal Credit Union has an average approval rate.

    Pick Rate

    Approvals leading to origination
    73.73%

    Circle Federal Credit Union has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 255 $27,715,000 $108,686

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Single Family (1-4 Units):Manufactured 7 $585,000 $83,571
    Single Family (1-4 Units):Site-Built 248 $27,130,000 $109,395

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 48 $3,260,000 $67,917 $1,094 4.39%
    40-60% 35 $3,705,000 $105,857 $1,352 4.34%
    60-80% 47 $8,425,000 $179,255 $1,832 4.11%
    80-100% 66 $9,950,000 $150,758 $2,215 4.19%
    Over 100% 2 $170,000 $85,000 $0 4.13%
    Under 20% 49 $1,815,000 $37,041 $334 4.43%

    Complaints

    Bank Name Product Issue 2019 CPFB Complaints % of Total Issues
    Chrysalis Holdings LLC Conventional home mortgage Applying for a mortgage or refinancing an existing mortgage 1 11.1%
    Chrysalis Holdings LLC Other type of mortgage Credit monitoring or identity theft protection services 1 11.1%
    Chrysalis Holdings LLC VA mortgage Applying for a mortgage or refinancing an existing mortgage 6 66.7%
    Chrysalis Holdings LLC VA mortgage Closing on a mortgage 1 11.1%