Christian Financial Credit Union Mortgage Rates, Fees & Info
Sterling Heights, MILEI: 254900PE3F2ADLAJRQ97
Tax ID: 38-1418180
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Mortgage Data
Review & Overview
Christian Financial Credit Union is a smaller credit union specializing in Home Improvement and Other loans. Their top markets by origination volume include: Detroit, Monroe, Hillsdale, Flint, and Lansing among others. We have data for 5 markets. (Some data included below & more in-depth data is available with an active subscription.)Christian Financial Credit Union has a below average approval rate when compared to the average across all lenders. They have a below average pick rate when compared to similar lenders.
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) | 6.27% | 11/17/24 |
| 15 Year Conventional Purchase | 5.68% | 11/17/24 |
| 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. | ||
Christian Financial 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
296Origination Dollar Volume (All Markets)
$11,590,000Top 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) | 292 | $11,430,000 | $39,144 | $0 | 7.09% |
| MONROE, MI (FHA|USDA|VA) | 1 | $75,000 | $75,000 | $0 | 6.25% |
| Hillsdale, MI (FHA|USDA|VA) | 1 | $45,000 | $45,000 | $0 | 6.00% |
| FLINT, MI (FHA|USDA|VA) | 1 | $25,000 | $25,000 | $0 | 6.25% |
| LANSING-EAST LANSING, MI (FHA|USDA|VA) | 1 | $15,000 | $15,000 | $0 | 6.25% |
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| HELOC | 296 | $11,590,000 | $39,155 | n/a | 7.08% |
For 2023, Christian Financial Credit Union's most frequently originated type of loan was HELOC, with 296 originations.
Loan Reason
For 2023, Christian Financial Credit Union's most frequently cited loan purpose was Home Improvement, with 141 originations. The 2nd most popular reason was Other, with 117 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| 20 Year | 296 | $11,590,000 | $39,155 | $0 | 7.08% |
For 2023, Christian Financial Credit Union's most frequently cited loan duration was 20 Year, with 296 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 6-7% | 127 | $4,975,000 | $39,173 |
| 7-8% | 69 | $2,485,000 | $36,014 |
| 5-6% | 53 | $2,315,000 | $43,679 |
| Over 8% | 47 | $1,815,000 | $38,617 |
During 2023, Christian Financial Credit Union's average interest rate for loans was 0.00%, while their most frequently originated rate bucket for loans was 6-7%, with 127 originations.
Loan Sizing
| Loan Size | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| $100,000 or less | 288 | $10,750,000 | $37,326 | $0 | 7.10% |
| $100k-200k | 8 | $840,000 | $105,000 | $0 | 6.34% |
2023 saw Christian Financial Credit Union place emphasis on $100,000 or less loans with 288 originations, totaling $10,750,000 in origination value.
Applicant Income
Christian Financial Credit Union lent most frequently to those with incomes in the $75k-100k range, with 70 originations. The second most popular income band? $50k-75k, with 68 originations.
Applicant Debt to Income Ratio
Christian Financial Credit Union lent most frequently to those with DTI ratios of 30-36%, with 71 originations. The next most common DTI ratio? 20-30%, with 66 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications68.43%
Christian Financial Credit Union has a low approval rate. They may have poor market targeting or stringent lending standards.
Pick Rate
Approvals leading to origination73.31%
Christian Financial Credit Union has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 296 | $11,590,000 | $39,155 |