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 and Other 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 Chicago among others. We have data for 18 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% 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

    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

    341

    Origination Dollar Volume (All Markets)

    $55,685,000

    Awards

    Circle Federal Credit Union 30 Year Conventional Loans gold Circle Federal Credit Union 30 Year Conventional Loans silver Circle Federal Credit Union 30 Year Conventional Loans silver
    Show all (3) 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) 215 $37,905,000 $176,302 $2,569 4.76%
    NILES, MI (FHA|USDA|VA) 76 $9,760,000 $128,421 $2,625 4.87%
    ELKHART-GOSHEN, IN (FHA|USDA|VA) 18 $2,550,000 $141,667 $2,097 4.57%
    Sturgis, MI (FHA|USDA|VA) 6 $1,130,000 $188,333 $4,241 4.93%
    Chicago-Naperville-Elgin, IL-IN-WI (FHA|USDA|VA) 4 $740,000 $185,000 $3,484 4.72%
    Outside of Metro Areas 9 $735,000 $81,667 $2,651 5.17%
    CRESTVIEW-FORT WALTON BEACH-DESTIN, FL (FHA|USDA|VA) 1 $585,000 $585,000 $5,916 4.25%
    Mount Pleasant, MI (FHA|USDA|VA) 1 $575,000 $575,000 $0 4.00%
    North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) 1 $385,000 $385,000 $6,278 5.00%
    CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) 1 $355,000 $355,000 $3,095 4.13%
    PUNTA GORDA, FL (FHA|USDA|VA) 2 $310,000 $155,000 $2,959 3.37%
    Madison, IN (FHA|USDA|VA) 1 $165,000 $165,000 $1,749 5.75%
    Plymouth, IN (FHA|USDA|VA) 1 $145,000 $145,000 $0 4.00%
    Cadillac, MI (FHA|USDA|VA) 1 $115,000 $115,000 $3,263 6.63%
    Holland, MI (FHA|USDA|VA) 1 $105,000 $105,000 $0 2.19%
    FLINT, MI (FHA|USDA|VA) 1 $65,000 $65,000 $0 4.50%
    INDIANAPOLIS-CARMEL-ANDERSON, IN (FHA|USDA|VA) 1 $35,000 $35,000 $0 4.75%
    Warsaw, IN (FHA|USDA|VA) 1 $25,000 $25,000 $0 7.25%
    Circle Federal Credit Union's top markets include South Bend, Niles, Elkhart, Sturgis, and Chicago among others.

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

    Lake City Bank
    Similarity Rank: 228
    First State Bank of Middlebury
    Similarity Rank: 468
    INTERRA CREDIT UNION
    Similarity Rank: 660
    OAK MORTGAGE, LLC
    Similarity Rank: 960
    CONSUMERS
    Similarity Rank: 960
    Circle Federal Credit Union
    Similarity Rank: 1044
    Honor Credit Union
    Similarity Rank: 1220
    First Federal Savings Bank
    Similarity Rank: 1260
    LAKE MICHIGAN CREDIT UNION
    Similarity Rank: 1752
    Independent Bank
    Similarity Rank: 1792

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 205 $43,575,000 $212,561 $2,641 4.81%
    HELOC 135 $11,985,000 $88,778 n/a 4.74%
    USDA 1 $125,000 $125,000 $4,086 5.00%

    For 2022, Circle Federal Credit Union's most frequently originated type of loan was Conventional, with 205 originations. Their 2nd most popular type was HELOC, with 135 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 146 $34,210,000 $234,315 $2,931 5.01%
    Other 120 $12,030,000 $100,250 $1,956 4.81%
    Cash Out Refi 33 $5,105,000 $154,697 $2,214 4.20%
    Home Improvement 23 $1,215,000 $52,826 $514 4.30%
    Refi 19 $3,125,000 $164,474 $2,093 4.39%

    For 2022, Circle Federal Credit Union's most frequently cited loan purpose was Home Purchase, with 146 originations. The 2nd most popular reason was Other, with 120 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 128 $30,050,000 $234,766 $2,797 5.11%
    10 Year 115 $9,645,000 $83,870 $1,522 5.10%
    5 Year 42 $4,880,000 $116,190 $1,865 3.70%
    15 Year 34 $4,620,000 $135,882 $2,347 3.86%
    1 Year 8 $3,600,000 $450,000 $3,707 4.76%
    20 Year 8 $1,080,000 $135,000 $2,777 5.38%
    Other 4 $940,000 $235,000 $2,041 3.38%
    3 Year 2 $870,000 $435,000 $4,181 4.50%

    For 2022, Circle Federal Credit Union's most frequently cited loan duration was 30 Year, with 128 originations. The 2nd most popular length was 10 Year, with 115 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 190 $40,010,000 $210,579
    $1k-2k 7 $2,035,000 $290,714
    $2k-3k 6 $1,100,000 $183,333
    $5k+ 2 $460,000 $230,000
    $3k-4k 1 $95,000 $95,000

    Circle Federal Credit Union's average total fees were $2,797, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 190 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    3-4% 93 $18,035,000 $193,925
    4-5% 85 $13,735,000 $161,588
    5-6% 79 $11,985,000 $151,709
    6-7% 42 $6,330,000 $150,714
    <2.5% 16 $1,780,000 $111,250
    7-8% 13 $1,335,000 $102,692
    2.5-3% 10 $2,250,000 $225,000
    Over 8% 3 $235,000 $78,333

    During 2022, Circle Federal Credit Union's average interest rate for loans was 5.11%, while their most frequently originated rate bucket for loans was 3-4%, with 93 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 148 $7,670,000 $51,824 $2,048 4.88%
    $100k-200k 98 $13,830,000 $141,122 $2,511 4.83%
    $200k-400k 69 $18,425,000 $267,029 $2,975 4.70%
    $400k-600k 17 $8,545,000 $502,647 $3,827 4.39%
    $600k-1MM 8 $5,810,000 $726,250 $3,205 3.94%
    $1MM+ 1 $1,405,000 $1,405,000 $5,271 4.25%

    2022 saw Circle Federal Credit Union place emphasis on $100,000 or less loans with 148 originations, totaling $7,670,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 87 $10,585,000 $121,667 $2,461 4.81%
    $50k or less 71 $6,095,000 $85,845 $2,220 4.85%
    $100k-150k 64 $11,250,000 $175,781 $2,737 5.04%
    $150k-250k 53 $14,875,000 $280,660 $2,757 4.25%
    $75k-100k 46 $6,790,000 $147,609 $3,048 5.10%
    $250k+ 20 $6,090,000 $304,500 $3,825 4.29%

    Circle Federal Credit Union lent most frequently to those with incomes in the $50k-75k range, with 87 originations. The second most popular income band? $50k or less, with 71 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 96 $14,050,000 $146,354 $2,486 4.67%
    30-36% 70 $11,620,000 $166,000 $2,798 4.67%
    <20% 42 $4,570,000 $108,810 $2,405 4.32%
    39% 18 $4,130,000 $229,444 $3,088 5.04%
    36% 17 $2,855,000 $167,941 $2,523 5.11%
    40% 16 $2,360,000 $147,500 $2,358 4.86%
    42% 12 $1,510,000 $125,833 $2,509 5.12%
    37% 12 $2,340,000 $195,000 $2,663 5.01%
    38% 9 $895,000 $99,444 $2,387 5.02%
    44% 9 $2,905,000 $322,778 $3,672 5.43%
    45% 8 $1,030,000 $128,750 $2,595 4.31%
    43% 8 $1,420,000 $177,500 $2,452 5.80%
    >60% 4 $360,000 $90,000 $905 3.51%
    46% 4 $510,000 $127,500 $2,417 6.09%
    50-60% 4 $2,100,000 $525,000 $3,696 4.31%
    41% 4 $740,000 $185,000 $3,184 6.06%
    47% 3 $1,075,000 $358,333 $2,631 5.75%
    48% 3 $675,000 $225,000 $2,919 5.29%
    49% 2 $540,000 $270,000 $2,939 4.69%

    Circle Federal Credit Union lent most frequently to those with DTI ratios of 20-30%, with 96 originations. The next most common DTI ratio? 30-36%, with 70 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    Not provided 189 $31,465,000 $166,481 $2,703 4.96%
    White 150 $24,180,000 $161,200 $2,569 4.55%
    Black 2 $40,000 $20,000 $0 5.44%

    Approval Rates

    Total approvals of all applications
    96.86%

    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
    69.21%

    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 341 $55,685,000 $163,299

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    341 $55,685,000 $163,299

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 70 $6,150,000 $87,857 $1,692 4.64%
    40-60% 34 $4,980,000 $146,471 $2,321 4.74%
    60-80% 95 $21,395,000 $225,211 $2,654 4.62%
    80-100% 70 $16,320,000 $233,143 $2,983 5.18%
    Over 100% 7 $3,325,000 $475,000 $3,959 4.53%
    Under 20% 64 $2,940,000 $45,938 $809 4.78%

    Complaints

    Bank Name Product Issue 2022 CPFB Complaints % of Total Issues
    Chrysalis Holdings LLC VA mortgage Trouble during payment process 1 100.0%