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 Other and Home Improvement loans. Christian Financial Credit Union has an average proportion of conventional loans. Their top (well, only) market is Detroit.Christian Financial 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.
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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| Home Equity Line of Credit (HELOC) | 6.27% | 5/4/24 |
| 15 Year Conventional Purchase | 5.68% | 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. | ||
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
108Origination Dollar Volume (All Markets)
$3,920,000Top 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) | 107 | $3,885,000 | $36,308 | $0 | 4.19% |
| Outside of Metro Areas | 1 | $35,000 | $35,000 | $0 | 4.75% |
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| HELOC | 103 | $3,665,000 | $35,583 | n/a | 4.23% |
| Conventional | 5 | $255,000 | $51,000 | $0 | 3.49% |
For 2021, Christian Financial Credit Union's most frequently originated type of loan was HELOC, with 103 originations. Their 2nd most popular type was Conventional, with 5 originations.
Loan Reason
For 2021, Christian Financial Credit Union's most frequently cited loan purpose was Other, with 54 originations. The 2nd most popular reason was Home Improvement, with 47 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| 20 Year | 104 | $3,760,000 | $36,154 | $0 | 4.22% |
| 10 Year | 4 | $160,000 | $40,000 | $0 | 3.49% |
For 2021, Christian Financial Credit Union's most frequently cited loan duration was 20 Year, with 104 originations. The 2nd most popular length was 10 Year, with 4 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 3-4% | 91 | $3,305,000 | $36,319 |
| 4-5% | 9 | $315,000 | $35,000 |
| 5-6% | 6 | $220,000 | $36,667 |
| 2.5-3% | 1 | $55,000 | $55,000 |
| 6-7% | 1 | $25,000 | $25,000 |
During 2021, Christian Financial Credit Union's average interest rate for loans was 0.00%, while their most frequently originated rate bucket for loans was 3-4%, with 91 originations.
Loan Sizing
| Loan Size | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| $100,000 or less | 107 | $3,815,000 | $35,654 | $0 | 4.19% |
| $100k-200k | 1 | $105,000 | $105,000 | $0 | 4.00% |
2021 saw Christian Financial Credit Union place emphasis on $100,000 or less loans with 107 originations, totaling $3,815,000 in origination value.
Applicant Income
Christian Financial Credit Union lent most frequently to those with incomes in the $100k-150k range, with 23 originations. The second most popular income band? $75k-100k, with 23 originations.
Applicant Debt to Income Ratio
Christian Financial Credit Union lent most frequently to those with DTI ratios of 20-30%, with 37 originations. The next most common DTI ratio? 30-36%, with 20 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications71.70%
Christian Financial Credit Union has a below average approval rate.
Pick Rate
Approvals leading to origination59.26%
Christian Financial 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 | 108 | $3,920,000 | $36,296 |
LTV Distribution
Complaints
| Bank Name | Product | Issue | 2021 CPFB Complaints | % of Total Issues |
|---|---|---|---|---|
| Christensen Financial, Inc. | Conventional home mortgage | Applying for a mortgage or refinancing an existing mortgage | 1 | 100.0% |