Wildfire Credit Union Mortgage Rates, Fees & Info

Saginaw, MI

LEI: 254900TKL128GKFR9C87

Tax ID: 38-0996065

5 stars - Updated: 10/13/24 - out of 5 stars, based on 17 reviews

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

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Mortgage Data

Review & Overview

Wildfire Credit Union is a smaller credit union specializing in Home Purchase loans. Wildfire Credit Union has a high proportion of conventional loans. Their top markets by origination volume include: Bay City, Saginaw, Midland, Detroit, and Traverse City among others. We have data for 13 markets. (Some data included below & more in-depth data is available with an active subscription.)

Wildfire 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. Wildfire 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 relatively high 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.

Mortgage professionals: We have various tools to make your lives easier. Contact us to see how we can help with your market research, analytics or advertising needs.

SimulatedRates™

Mortgage Type
Simulated Rate Simulation Date
30 Year Conventional Purchase 6.72% 10/13/24
30 Year Conventional Refi 6.31% 10/13/24
30 Year Cash-out Refi 6.45% 10/13/24
15 Year Conventional Purchase 5.84% 10/13/24
15 Year Conventional Refi 5.81% 10/13/24
15 Year Cash-out Refi 5.81% 10/13/24
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.

Wildfire Credit Union Mortgage Calculator






Your Estimates

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

This is not an official calculator from Wildfire 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

299

Origination Dollar Volume (All Markets)

$41,935,000
Show all (9) awards

Relative Rate

Wildfire Credit Union's average 30 year fixed mortgage rate was 6.39%.

The 2023 average 30 year fixed rate mortgage across all markets and lenders was 6.48%.

This yields a difference of -0.09%.

Relative Fees (Closing Costs)

Wildfire Credit Union's average total fees/closing costs for a 30 year fixed rate mortgage were $2,453.

The average total origination fees for 30 year fixed rate mortgages across all lenders (for all loan values, including both points & up-front fees in addition to origination fees) were $9,089.

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
BAY CITY, MI (FHA|USDA|VA) 68 $8,870,000 $130,441 $2,074 6.62%
SAGINAW, MI (FHA|USDA|VA) 89 $8,825,000 $99,157 $1,732 6.91%
MIDLAND, MI (FHA|USDA|VA) 59 $7,595,000 $128,729 $1,855 6.73%
Outside of Metro Areas 42 $6,090,000 $145,000 $2,232 6.50%
Detroit-Warren-Dearborn, MI (FHA|USDA|VA) 14 $3,780,000 $270,000 $2,400 6.76%
Traverse City, MI (FHA|USDA|VA) 5 $3,565,000 $713,000 $868 7.20%
FLINT, MI (FHA|USDA|VA) 11 $1,185,000 $107,727 $1,990 6.65%
Mount Pleasant, MI (FHA|USDA|VA) 5 $915,000 $183,000 $2,114 6.55%
LANSING-EAST LANSING, MI (FHA|USDA|VA) 2 $460,000 $230,000 $2,638 5.75%
GRAND RAPIDS-KENTWOOD, MI (FHA|USDA|VA) 1 $285,000 $285,000 $2,859 6.75%
Cadillac, MI (FHA|USDA|VA) 1 $205,000 $205,000 $2,355 6.13%
Big Rapids, MI (FHA|USDA|VA) 1 $85,000 $85,000 $2,383 6.13%
ANN ARBOR, MI (FHA|USDA|VA) 1 $75,000 $75,000 $1,481 7.25%
Wildfire Credit Union's top markets include Bay City, Saginaw, Midland, Detroit, and Traverse City among others.

Their top states include:
  • Michigan (FHA|USDA|VA)
  • Similar Lenders

    We use machine learning to identify the top lenders compared against Wildfire Credit Union based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.

    SUNRISE FAMILY CREDIT UNION
    Similarity Rank: 68
    Wildfire Credit Union
    Similarity Rank: 130
    Isabella Bank
    Similarity Rank: 220
    FINANCIAL PLUS CREDIT UNION
    Similarity Rank: 221
    1st State Financial, Ltd.
    Similarity Rank: 221
    Mercantile Bank of Michigan
    Similarity Rank: 550
    The State Bank
    Similarity Rank: 759
    Frankenmuth Credit Union
    Similarity Rank: 901

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 299 $41,935,000 $140,251 $1,956 6.72%

    For 2023, Wildfire Credit Union's most frequently originated type of loan was Conventional, with 299 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 137 $28,785,000 $210,109 $2,521 6.51%
    Cash Out Refi 90 $7,490,000 $83,222 $1,437 6.93%
    Home Improvement 46 $3,410,000 $74,130 $1,527 6.75%
    Refi 23 $1,645,000 $71,522 $1,456 6.95%
    Other 3 $605,000 $201,667 $0 8.01%

    For 2023, Wildfire Credit Union's most frequently cited loan purpose was Home Purchase, with 137 originations. The 2nd most popular reason was Cash Out Refi, with 90 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 149 $26,235,000 $176,074 $2,453 6.39%
    5 Year 105 $11,095,000 $105,667 $941 7.43%
    10 Year 19 $1,485,000 $78,158 $2,120 6.32%
    15 Year 15 $1,675,000 $111,667 $2,167 5.87%
    20 Year 9 $1,085,000 $120,556 $2,185 6.25%
    3 Year 1 $85,000 $85,000 $2,181 6.75%
    Other 1 $275,000 $275,000 $2,602 5.75%

    For 2023, Wildfire Credit Union's most frequently cited loan duration was 30 Year, with 149 originations. The 2nd most popular length was 5 Year, with 105 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 276 $35,470,000 $128,514

    Wildfire Credit Union's average total fees were $2,453, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 276 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    6-7% 133 $20,415,000 $153,496
    7-8% 90 $10,950,000 $121,667
    5-6% 53 $8,625,000 $162,736
    Over 8% 18 $1,620,000 $90,000
    4-5% 5 $325,000 $65,000

    During 2023, Wildfire Credit Union's average interest rate for loans was 6.39%, while their most frequently originated rate bucket for loans was 6-7%, with 133 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 153 $8,455,000 $55,261 $1,431 7.00%
    $100k-200k 86 $11,930,000 $138,721 $2,265 6.42%
    $200k-400k 47 $11,975,000 $254,787 $2,707 6.33%
    $400k-600k 10 $4,860,000 $486,000 $3,127 6.66%
    $600k-1MM 2 $1,330,000 $665,000 $3,154 7.10%
    $1MM+ 1 $3,385,000 $3,385,000 $0 7.75%

    2023 saw Wildfire Credit Union place emphasis on $100,000 or less loans with 153 originations, totaling $8,455,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 83 $8,165,000 $98,373 $1,838 6.64%
    $50k or less 64 $4,830,000 $75,469 $1,776 6.57%
    $100k-150k 48 $8,270,000 $172,292 $2,074 6.75%
    $75k-100k 48 $6,380,000 $132,917 $2,127 6.47%
    $150k-250k 34 $7,200,000 $211,765 $2,159 6.75%
    $250k+ 2 $620,000 $310,000 $3,440 7.68%

    Wildfire Credit Union lent most frequently to those with incomes in the $50k-75k range, with 83 originations. The second most popular income band? $50k or less, with 64 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 71 $8,505,000 $119,789 $1,989 6.52%
    30-36% 47 $6,205,000 $132,021 $2,060 6.48%
    42% 22 $2,560,000 $116,364 $1,713 6.69%
    41% 17 $2,725,000 $160,294 $2,206 6.62%
    40% 16 $2,760,000 $172,500 $2,025 6.79%
    45% 16 $1,780,000 $111,250 $1,784 6.82%
    <20% 12 $1,410,000 $117,500 $2,124 6.39%
    37% 12 $1,780,000 $148,333 $1,951 6.57%
    38% 12 $1,720,000 $143,333 $1,954 6.69%
    43% 11 $675,000 $61,364 $1,307 6.85%
    36% 8 $960,000 $120,000 $1,976 6.69%
    46% 8 $880,000 $110,000 $1,916 6.68%
    44% 7 $615,000 $87,857 $1,429 6.84%
    48% 6 $960,000 $160,000 $2,161 6.88%
    39% 5 $925,000 $185,000 $2,234 6.43%
    47% 4 $460,000 $115,000 $2,109 6.59%
    49% 2 $550,000 $275,000 $2,619 6.31%

    Wildfire Credit Union lent most frequently to those with DTI ratios of 20-30%, with 71 originations. The next most common DTI ratio? 30-36%, with 47 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 254 $32,420,000 $127,638 $1,991 6.63%
    Not applicable 16 $6,030,000 $376,875 $0 8.08%
    Not provided 15 $1,465,000 $97,667 $1,464 6.81%
    American Indian 3 $815,000 $271,667 $2,623 6.63%
    Black 9 $725,000 $80,556 $1,660 6.61%
    Asian 2 $480,000 $240,000 $1,695 7.00%

    Approval Rates

    Total approvals of all applications
    85.57%

    Wildfire Credit Union has an average approval rate.

    Pick Rate

    Approvals leading to origination
    82.94%

    Wildfire Credit Union has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 299 $41,935,000 $140,251

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    299 $41,935,000 $140,251

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 54 $3,680,000 $68,148 $1,394 7.03%
    40-60% 39 $3,715,000 $95,256 $1,890 6.58%
    60-80% 74 $15,170,000 $205,000 $2,360 6.55%
    80-100% 90 $17,330,000 $192,556 $2,530 6.45%
    Over 100% 1 $45,000 $45,000 $0 10.46%
    Under 20% 41 $1,995,000 $48,659 $814 7.25%