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 Home Purchase, Refi, and Cash Out Refi 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 North Port among others. We have data for 15 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

    387

    Origination Dollar Volume (All Markets)

    $63,345,000
    Show all (5) 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) 259 $44,405,000 $171,448 $2,273 3.30%
    NILES, MI (FHA|USDA|VA) 89 $11,935,000 $134,101 $2,424 3.24%
    ELKHART-GOSHEN, IN (FHA|USDA|VA) 15 $2,735,000 $182,333 $2,170 2.94%
    Sturgis, MI (FHA|USDA|VA) 6 $1,040,000 $173,333 $2,496 3.75%
    Outside of Metro Areas 4 $570,000 $142,500 $2,237 3.13%
    North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) 2 $430,000 $215,000 $5,677 3.69%
    COLORADO SPRINGS, CO (FHA|USDA|VA) 1 $425,000 $425,000 $2,292 3.13%
    KALAMAZOO-PORTAGE, MI (FHA|USDA|VA) 2 $400,000 $200,000 $2,398 2.81%
    INDIANAPOLIS-CARMEL-ANDERSON, IN (FHA|USDA|VA) 1 $365,000 $365,000 $2,369 2.63%
    MICHIGAN CITY-LA PORTE, IN (FHA|USDA|VA) 2 $330,000 $165,000 $2,107 3.06%
    FLINT, MI (FHA|USDA|VA) 2 $200,000 $100,000 $2,393 3.88%
    FORT WAYNE, IN (FHA|USDA|VA) 1 $145,000 $145,000 $0 3.13%
    KOKOMO, IN (FHA|USDA|VA) 1 $145,000 $145,000 $2,293 2.13%
    Mount Pleasant, MI (FHA|USDA|VA) 1 $115,000 $115,000 $1,859 2.38%
    Holland, MI (FHA|USDA|VA) 1 $105,000 $105,000 $900 3.90%
    Circle Federal Credit Union's top markets include South Bend, Niles, Elkhart, Sturgis, and North Port among others.

    Their top states include:
  • Michigan (FHA|USDA|VA)
  • Indiana (FHA|USDA|VA)
  • Florida (FHA|USDA|VA)
  • Colorado (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: 405
    OAK MORTGAGE, LLC
    Similarity Rank: 924
    INTERRA CREDIT UNION
    Similarity Rank: 990
    MutualBank
    Similarity Rank: 1300
    PROPER RATE, LLC
    Similarity Rank: 1302
    OCEANSIDE MORTGAGE COMPANY
    Similarity Rank: 1984
    Lake City Bank
    Similarity Rank: 2040
    CONSUMERS
    Similarity Rank: 2128
    INOVA FEDERAL CREDIT UNION
    Similarity Rank: 2232
    Northwest Bank
    Similarity Rank: 2375

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 327 $58,885,000 $180,076 $2,281 3.09%
    HELOC 55 $3,775,000 $68,636 n/a 4.36%
    USDA 5 $685,000 $137,000 $3,994 3.33%

    For 2020, Circle Federal Credit Union's most frequently originated type of loan was Conventional, with 327 originations. Their 2nd most popular type was HELOC, with 55 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 127 $22,555,000 $177,598 $2,426 3.18%
    Refi 100 $17,940,000 $179,400 $2,207 2.86%
    Cash Out Refi 83 $15,635,000 $188,373 $2,348 3.15%
    Other 63 $6,515,000 $103,413 $2,107 4.04%
    Home Improvement 14 $700,000 $50,000 $1,479 4.37%

    For 2020, Circle Federal Credit Union's most frequently cited loan purpose was Home Purchase, with 127 originations. The 2nd most popular reason was Refi, with 100 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 194 $35,930,000 $185,206 $2,391 3.05%
    10 Year 65 $5,035,000 $77,462 $1,734 4.24%
    15 Year 64 $9,890,000 $154,531 $2,257 2.62%
    5 Year 29 $4,495,000 $155,000 $1,727 4.01%
    20 Year 26 $5,280,000 $203,077 $2,486 2.98%
    Other 5 $1,395,000 $279,000 $2,716 4.25%
    1 Year 3 $1,025,000 $341,667 $2,810 4.29%
    30+ year 1 $295,000 $295,000 $3,222 4.00%

    For 2020, Circle Federal Credit Union's most frequently cited loan duration was 30 Year, with 194 originations. The 2nd most popular length was 10 Year, with 65 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 328 $58,000,000 $176,829
    $5k+ 4 $1,570,000 $392,500

    Circle Federal Credit Union's average total fees were $2,391, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 328 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    2.5-3% 133 $25,455,000 $191,391
    3-4% 124 $22,020,000 $177,581
    4-5% 66 $6,420,000 $97,273
    <2.5% 60 $9,180,000 $153,000
    5-6% 4 $270,000 $67,500

    During 2020, Circle Federal Credit Union's average interest rate for loans was 3.05%, while their most frequently originated rate bucket for loans was 2.5-3%, with 133 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100k-200k 154 $22,090,000 $143,442 $2,238 3.07%
    $100,000 or less 122 $7,360,000 $60,328 $1,945 3.67%
    $200k-400k 93 $25,465,000 $273,817 $2,459 3.13%
    $400k-600k 17 $7,825,000 $460,294 $3,695 3.07%
    $600k-1MM 1 $605,000 $605,000 $3,838 3.75%

    2020 saw Circle Federal Credit Union place emphasis on $100k-200k loans with 154 originations, totaling $22,090,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 102 $12,670,000 $124,216 $2,169 3.36%
    $50k or less 94 $10,040,000 $106,809 $2,172 3.19%
    $75k-100k 80 $13,390,000 $167,375 $2,135 3.32%
    $100k-150k 69 $14,275,000 $206,884 $2,386 3.25%
    $150k-250k 26 $8,080,000 $310,769 $2,982 3.19%
    $250k+ 16 $4,890,000 $305,625 $3,424 3.27%

    Circle Federal Credit Union lent most frequently to those with incomes in the $50k-75k range, with 102 originations. The second most popular income band? $50k or less, with 94 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 121 $19,555,000 $161,612 $2,235 3.25%
    30-36% 75 $11,815,000 $157,533 $2,211 3.32%
    <20% 51 $7,925,000 $155,392 $2,365 3.24%
    42% 21 $4,425,000 $210,714 $2,475 3.16%
    41% 18 $2,860,000 $158,889 $2,334 3.50%
    44% 16 $2,840,000 $177,500 $2,454 2.98%
    43% 12 $1,820,000 $151,667 $2,268 3.18%
    38% 12 $1,340,000 $111,667 $2,023 3.69%
    39% 12 $2,210,000 $184,167 $2,960 3.60%
    36% 12 $1,980,000 $165,000 $2,392 2.99%
    37% 6 $1,090,000 $181,667 $2,224 3.15%
    47% 6 $1,660,000 $276,667 $2,685 2.83%
    40% 5 $765,000 $153,000 $2,712 3.40%
    46% 4 $990,000 $247,500 $2,314 3.19%
    48% 4 $750,000 $187,500 $2,261 2.91%
    50-60% 4 $560,000 $140,000 $2,055 3.44%
    49% 3 $305,000 $101,667 $2,239 3.71%
    >60% 3 $295,000 $98,333 $2,264 4.02%
    45% 2 $160,000 $80,000 $2,422 3.63%

    Circle Federal Credit Union lent most frequently to those with DTI ratios of 20-30%, with 121 originations. The next most common DTI ratio? 30-36%, with 75 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 297 $49,455,000 $166,515 $2,302 3.27%
    Not provided 85 $13,325,000 $156,765 $2,325 3.26%
    Asian 2 $310,000 $155,000 $2,110 3.44%
    Black 3 $255,000 $85,000 $2,336 3.67%

    Approval Rates

    Total approvals of all applications
    95.06%

    Circle Federal 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
    75.97%

    Circle Federal Credit Union has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 387 $63,345,000 $163,682

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Single Family (1-4 Units):Manufactured 10 $1,010,000 $101,000
    Single Family (1-4 Units):Site-Built 377 $62,335,000 $165,345

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 24 $2,380,000 $99,167 $2,018 3.45%
    40-60% 61 $9,435,000 $154,672 $2,223 3.14%
    60-80% 144 $26,540,000 $184,306 $2,410 3.11%
    80-100% 116 $21,850,000 $188,362 $2,297 3.17%
    Over 100% 4 $1,340,000 $335,000 $3,179 3.69%
    Under 20% 31 $1,495,000 $48,226 $1,146 4.33%

    Complaints

    Bank Name Product Issue 2020 CPFB Complaints % of Total Issues
    Chrysalis Holdings LLC Other type of mortgage Applying for a mortgage or refinancing an existing mortgage 1 5.3%
    Chrysalis Holdings LLC VA mortgage Applying for a mortgage or refinancing an existing mortgage 10 52.6%
    Chrysalis Holdings LLC VA mortgage Closing on a mortgage 5 26.3%
    Chrysalis Holdings LLC VA mortgage Improper use of your report 1 5.3%
    Chrysalis Holdings LLC VA mortgage Trouble during payment process 2 10.5%