Dort Financial Credit Union Mortgage Rates, Fees & Info

Grand Blanc, MI

LEI: 254900WQ6O9JA8WI5W89

Tax ID: 38-1440283

5 stars - Updated: 11/11/24 - out of 5 stars, based on 26 reviews

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

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  • SimulatedRates™
  • Mortgage Calculator

    • Mortgage Data

  • Originations
  • Relative Rates
  • Relative Fees
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • 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

    Dort Financial Credit Union is a smaller credit union specializing in Home Improvement and Home Purchase loans. Dort Financial Credit Union has a high proportion of conventional loans. They have an average proportion of FHA loans. They have a low ratio of USDA loans. Their top markets by origination volume include: Flint, Detroit, Lansing, Saginaw, and North Port among others. We have data for 19 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Dort 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. Dort Financial 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
    Home Equity Line of Credit (HELOC) 8.57% 11/11/24
    30 Year Conventional Purchase 6.15% 11/11/24
    30 Year Conventional Refi 6.09% 11/11/24
    30 Year Cash-out Refi 6.18% 11/11/24
    30 Year FHA Purchase 7.33% 11/11/24
    30 Year FHA Refi 6.27% 11/11/24
    15 Year Conventional Purchase 5.62% 11/11/24
    15 Year Conventional Refi 6.09% 11/11/24
    15 Year Cash-out Refi 6.09% 11/11/24
    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.

    Dort Financial Credit Union Mortgage Calculator






    Your Estimates

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

    This is not an official calculator from Dort Financial 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

    666

    Origination Dollar Volume (All Markets)

    $65,810,000
    Show all (9) awards

    Relative Rate

    Dort Financial Credit Union's average 30 year fixed mortgage rate was 6.49%.

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

    This yields a difference of 0.01%.

    Relative Fees (Closing Costs)

    Dort Financial Credit Union's average total fees/closing costs for a 30 year fixed rate mortgage were $3,309.

    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
    FLINT, MI (FHA|USDA|VA) 426 $35,310,000 $82,887 $1,831 7.61%
    Detroit-Warren-Dearborn, MI (FHA|USDA|VA) 130 $17,510,000 $134,692 $2,345 7.38%
    Outside of Metro Areas 37 $5,125,000 $138,514 $2,365 7.43%
    LANSING-EAST LANSING, MI (FHA|USDA|VA) 31 $3,045,000 $98,226 $2,345 7.13%
    SAGINAW, MI (FHA|USDA|VA) 18 $1,290,000 $71,667 $1,759 7.23%
    North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) 3 $665,000 $221,667 $3,410 7.33%
    GRAND RAPIDS-KENTWOOD, MI (FHA|USDA|VA) 3 $545,000 $181,667 $4,495 7.83%
    MUSKEGON, MI (FHA|USDA|VA) 1 $365,000 $365,000 $2,425 5.50%
    BATTLE CREEK, MI (FHA|USDA|VA) 2 $360,000 $180,000 $3,745 7.25%
    BAY CITY, MI (FHA|USDA|VA) 4 $330,000 $82,500 $2,729 7.41%
    Ludington, MI (FHA|USDA|VA) 2 $280,000 $140,000 $2,623 7.25%
    Traverse City, MI (FHA|USDA|VA) 2 $270,000 $135,000 $2,447 6.88%
    JACKSON, MI (FHA|USDA|VA) 1 $175,000 $175,000 $2,721 5.25%
    Big Rapids, MI (FHA|USDA|VA) 1 $155,000 $155,000 $2,704 6.38%
    PUNTA GORDA, FL (FHA|USDA|VA) 1 $105,000 $105,000 $5,038 6.88%
    Holland, MI (FHA|USDA|VA) 1 $105,000 $105,000 $0 7.75%
    Cadillac, MI (FHA|USDA|VA) 1 $105,000 $105,000 $1,878 5.50%
    ANN ARBOR, MI (FHA|USDA|VA) 1 $45,000 $45,000 $0 9.25%
    MIDLAND, MI (FHA|USDA|VA) 1 $25,000 $25,000 $0 10.25%
    Dort Financial Credit Union's top markets include Flint, Detroit, Lansing, Saginaw, and North Port among others.

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

    • Similar Lenders

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

    Michigan Legacy Credit Union
    Similarity Rank: 15
    1st State Financial, Ltd.
    Similarity Rank: 34
    Polish-American Federal Credit Union
    Similarity Rank: 45
    Wildfire Credit Union
    Similarity Rank: 52
    HEALTH ADVANTAGE FEDERAL CREDIT UNION
    Similarity Rank: 66
    Total Community Credit Union
    Similarity Rank: 94
    PFCU
    Similarity Rank: 100
    St James Mortgage Corporation
    Similarity Rank: 104
    Isabella Bank
    Similarity Rank: 120
    MEMBERFOCUS COMMUNITY
    Similarity Rank: 162

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    HELOC 324 $21,950,000 $67,747 n/a 8.12%
    Conventional 312 $39,380,000 $126,218 $1,740 6.96%
    FHA 27 $3,945,000 $146,111 $5,319 6.66%
    USDA 3 $535,000 $178,333 $3,923 6.63%

    For 2023, Dort Financial Credit Union's most frequently originated type of loan was HELOC, with 324 originations. Their 2nd most popular type was Conventional, with 312 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Improvement 279 $16,905,000 $60,591 $702 7.93%
    Home Purchase 129 $24,915,000 $193,140 $3,436 6.45%
    Other 119 $8,005,000 $67,269 $628 7.88%
    Cash Out Refi 116 $10,890,000 $93,879 $1,651 7.46%
    Refi 23 $5,095,000 $221,522 $2,156 6.76%

    For 2023, Dort Financial Credit Union's most frequently cited loan purpose was Home Improvement, with 279 originations. The 2nd most popular reason was Home Purchase, with 129 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30+ year 258 $17,240,000 $66,822 $0 8.15%
    30 Year 164 $32,130,000 $195,915 $3,309 6.49%
    10 Year 89 $3,875,000 $43,539 $602 7.86%
    Other 69 $4,805,000 $69,638 $471 8.01%
    15 Year 44 $4,070,000 $92,500 $954 7.37%
    20 Year 24 $3,200,000 $133,333 $2,044 6.22%
    5 Year 18 $490,000 $27,222 $488 6.06%

    For 2023, Dort Financial Credit Union's most frequently cited loan duration was 30+ year, with 258 originations. The 2nd most popular length was 30 Year, with 164 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 300 $37,360,000 $124,533
    $1k-2k 24 $3,150,000 $131,250
    $2k-3k 10 $1,920,000 $192,000
    $3k-4k 4 $800,000 $200,000
    $4k-5k 2 $510,000 $255,000

    Dort Financial Credit Union's average total fees were $3,309, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 300 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    7-8% 278 $21,650,000 $77,878
    6-7% 164 $22,840,000 $139,268
    Over 8% 148 $7,290,000 $49,257
    5-6% 72 $13,900,000 $193,056
    4-5% 3 $35,000 $11,667
    2.5-3% 1 $95,000 $95,000

    During 2023, Dort Financial Credit Union's average interest rate for loans was 6.49%, while their most frequently originated rate bucket for loans was 7-8%, with 278 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 455 $21,895,000 $48,121 $1,083 7.83%
    $100k-200k 130 $17,180,000 $132,154 $2,969 6.94%
    $200k-400k 65 $17,435,000 $268,231 $3,679 6.64%
    $400k-600k 11 $5,025,000 $456,818 $3,056 6.77%
    $600k-1MM 4 $2,770,000 $692,500 $3,616 5.75%
    $1MM+ 1 $1,505,000 $1,505,000 $4,464 6.50%

    2023 saw Dort Financial Credit Union place emphasis on $100,000 or less loans with 455 originations, totaling $21,895,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 153 $11,145,000 $72,843 $2,011 7.52%
    $100k-150k 152 $14,720,000 $96,842 $2,121 7.51%
    $75k-100k 141 $12,825,000 $90,957 $1,913 7.55%
    $50k or less 113 $6,395,000 $56,593 $1,931 7.55%
    $150k-250k 85 $12,055,000 $141,824 $2,004 7.54%
    $250k+ 22 $8,670,000 $394,091 $3,301 6.81%

    Dort Financial Credit Union lent most frequently to those with incomes in the $50k-75k range, with 153 originations. The second most popular income band? $100k-150k, with 152 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 158 $13,200,000 $83,544 $1,828 7.44%
    30-36% 157 $17,985,000 $114,554 $1,863 7.50%
    <20% 58 $4,890,000 $84,310 $1,869 7.36%
    42% 54 $4,870,000 $90,185 $2,580 7.78%
    41% 39 $4,135,000 $106,026 $1,505 7.42%
    40% 34 $3,030,000 $89,118 $1,584 7.52%
    43% 34 $4,090,000 $120,294 $2,856 7.70%
    37% 24 $1,390,000 $57,917 $944 7.78%
    36% 23 $2,445,000 $106,304 $2,122 7.54%
    39% 23 $2,485,000 $108,043 $2,124 7.72%
    38% 21 $1,665,000 $79,286 $2,497 7.82%
    44% 14 $1,310,000 $93,571 $1,868 7.36%
    50-60% 8 $1,600,000 $200,000 $5,995 6.73%
    45% 5 $805,000 $161,000 $4,700 6.63%
    46% 5 $955,000 $191,000 $3,141 6.88%
    >60% 5 $295,000 $59,000 $0 8.00%
    47% 3 $265,000 $88,333 $2,908 7.21%
    48% 1 $395,000 $395,000 $4,495 6.25%

    Dort Financial Credit Union lent most frequently to those with DTI ratios of 20-30%, with 158 originations. The next most common DTI ratio? 30-36%, with 157 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 548 $55,090,000 $100,529 $1,970 7.48%
    Not provided 65 $5,495,000 $84,538 $1,700 8.04%
    Black 45 $4,705,000 $104,556 $3,062 7.21%
    Asian 5 $415,000 $83,000 $1,263 6.85%
    American Indian 3 $105,000 $35,000 $449 8.08%

    Approval Rates

    Total approvals of all applications
    87.78%

    Dort Financial Credit Union has an average approval rate.

    Pick Rate

    Approvals leading to origination
    78.53%

    Dort Financial Credit Union has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 666 $65,810,000 $98,814

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    666 $65,810,000 $98,814

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 190 $13,360,000 $70,316 $932 7.91%
    40-60% 49 $6,345,000 $129,490 $2,048 7.17%
    60-80% 76 $14,550,000 $191,447 $2,670 6.87%
    80-100% 103 $21,375,000 $207,524 $3,561 6.47%
    Over 100% 1 $135,000 $135,000 $3,213 6.13%
    Under 20% 247 $10,045,000 $40,668 $602 7.91%