Dort Financial Credit Union Mortgage Rates, Fees & Info

Grand Blanc, MI

LEI: 254900WQ6O9JA8WI5W89

Tax ID: 38-1440283

5 stars - out of 5 stars, based on 31 reviews

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

Jump to:

  • 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, Cash Out Refi, and Home Purchase loans. Dort Financial Credit Union has a high proportion of conventional loans. They have a a low proportion of FHA loans. (This may mean they shy away from first time homebuyers.) Their top markets by origination volume include: Flint, Detroit, Lansing, Ann Arbor, and Saginaw among others. We have data for 23 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 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.

    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% 4/1/23
    30 Year Conventional Purchase 6.15% 4/1/23
    30 Year Conventional Refi 6.09% 4/1/23
    30 Year Cash-out Refi 6.18% 4/1/23
    30 Year FHA Purchase 7.33% 4/1/23
    30 Year FHA Refi 6.27% 4/1/23
    15 Year Conventional Purchase 5.62% 4/1/23
    15 Year Conventional Refi 6.09% 4/1/23
    15 Year Cash-out Refi 6.09% 4/1/23
    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

    971

    Origination Dollar Volume (All Markets)

    $91,345,000
    Show all (8) awards

    Relative Rate

    Dort Financial Credit Union's average 30 year fixed mortgage rate was 4.32%.

    The 2022 average 30 year fixed rate mortgage across all markets and lenders was 4.76%.

    This yields a difference of -0.44%.

    Relative Fees (Closing Costs)

    Dort Financial Credit Union's average total fees/closing costs for a 30 year fixed rate mortgage were $2,786.

    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 $4,750.

    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) 647 $54,155,000 $83,702 $1,882 4.90%
    Detroit-Warren-Dearborn, MI (FHA|USDA|VA) 191 $22,095,000 $115,681 $1,965 4.77%
    Outside of Metro Areas 47 $5,165,000 $109,894 $2,135 4.45%
    LANSING-EAST LANSING, MI (FHA|USDA|VA) 31 $2,635,000 $85,000 $1,815 4.85%
    ANN ARBOR, MI (FHA|USDA|VA) 10 $1,950,000 $195,000 $3,348 4.65%
    SAGINAW, MI (FHA|USDA|VA) 14 $1,130,000 $80,714 $1,787 4.66%
    North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) 6 $740,000 $123,333 $2,071 4.19%
    GRAND RAPIDS-KENTWOOD, MI (FHA|USDA|VA) 5 $695,000 $139,000 $1,851 4.45%
    Holland, MI (FHA|USDA|VA) 1 $545,000 $545,000 $3,065 3.38%
    TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) 2 $420,000 $210,000 $3,343 3.00%
    Traverse City, MI (FHA|USDA|VA) 3 $415,000 $138,333 $2,124 4.42%
    SEBRING-AVON PARK, FL (FHA|USDA|VA) 1 $205,000 $205,000 $3,782 4.75%
    Ludington, MI (FHA|USDA|VA) 1 $185,000 $185,000 $2,553 3.63%
    BAY CITY, MI (FHA|USDA|VA) 2 $170,000 $85,000 $3,148 4.63%
    Cadillac, MI (FHA|USDA|VA) 2 $170,000 $85,000 $2,302 3.81%
    MONROE, MI (FHA|USDA|VA) 1 $165,000 $165,000 $1,942 4.75%
    KALAMAZOO-PORTAGE, MI (FHA|USDA|VA) 1 $115,000 $115,000 $353 4.25%
    JACKSON, MI (FHA|USDA|VA) 1 $105,000 $105,000 $0 4.50%
    Alma, MI (FHA|USDA|VA) 1 $85,000 $85,000 $1,575 5.25%
    Marinette, WI-MI (FHA|USDA|VA) 1 $75,000 $75,000 $2,396 3.38%
    NILES, MI (FHA|USDA|VA) 1 $55,000 $55,000 $0 4.00%
    Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) 1 $35,000 $35,000 $935 3.75%
    MIDLAND, MI (FHA|USDA|VA) 1 $35,000 $35,000 $0 6.25%
    Dort Financial Credit Union's top markets include Flint, Detroit, Lansing, Ann Arbor, and Saginaw 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.

    Isabella Bank
    Similarity Rank: 80
    St James Mortgage Corporation
    Similarity Rank: 114
    Lake Huron Credit Union
    Similarity Rank: 136
    1st State Financial, Ltd.
    Similarity Rank: 147
    JOLT CREDIT UNION
    Similarity Rank: 154
    Polish-American Federal Credit Union
    Similarity Rank: 159
    HEALTH ADVANTAGE FEDERAL CREDIT UNION
    Similarity Rank: 174
    UNITED FINANCIAL Credit Union
    Similarity Rank: 300
    Wanigas Credit Union
    Similarity Rank: 330
    TEAM ONE CREDIT UNION
    Similarity Rank: 510

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    HELOC 482 $32,980,000 $68,423 n/a 5.08%
    Conventional 474 $56,930,000 $120,105 $1,877 4.57%
    FHA 15 $1,435,000 $95,667 $4,230 4.56%

    For 2022, Dort Financial Credit Union's most frequently originated type of loan was HELOC, with 482 originations. Their 2nd most popular type was Conventional, with 474 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Improvement 434 $26,760,000 $61,659 $891 4.98%
    Cash Out Refi 223 $22,105,000 $99,126 $1,701 4.88%
    Home Purchase 149 $23,285,000 $156,275 $3,021 4.68%
    Other 103 $9,065,000 $88,010 $762 4.93%
    Refi 62 $10,130,000 $163,387 $2,338 3.72%

    For 2022, Dort Financial Credit Union's most frequently cited loan purpose was Home Improvement, with 434 originations. The 2nd most popular reason was Cash Out Refi, with 223 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30+ year 318 $22,350,000 $70,283 $0 4.91%
    30 Year 244 $39,120,000 $160,328 $2,786 4.32%
    Other 157 $9,885,000 $62,962 $1,737 5.41%
    10 Year 97 $4,095,000 $42,216 $665 5.48%
    15 Year 91 $8,965,000 $98,516 $1,315 4.47%
    20 Year 42 $6,290,000 $149,762 $2,267 4.62%
    5 Year 22 $640,000 $29,091 $471 3.86%

    For 2022, Dort Financial Credit Union's most frequently cited loan duration was 30+ year, with 318 originations. The 2nd most popular length was 30 Year, with 244 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 405 $44,935,000 $110,951
    $1k-2k 55 $7,825,000 $142,273
    $2k-3k 17 $2,405,000 $141,471
    $3k-4k 9 $2,275,000 $252,778
    $5k+ 2 $640,000 $320,000
    $4k-5k 1 $285,000 $285,000

    Dort Financial Credit Union's average total fees were $2,786, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 405 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    3-4% 312 $34,740,000 $111,346
    4-5% 283 $26,055,000 $92,067
    5-6% 165 $13,595,000 $82,394
    6-7% 105 $7,255,000 $69,095
    2.5-3% 49 $6,655,000 $135,816
    7-8% 32 $1,880,000 $58,750
    Over 8% 22 $960,000 $43,636
    <2.5% 3 $205,000 $68,333

    During 2022, Dort Financial Credit Union's average interest rate for loans was 4.32%, while their most frequently originated rate bucket for loans was 3-4%, with 312 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 628 $29,760,000 $47,389 $1,234 5.05%
    $100k-200k 237 $31,405,000 $132,511 $2,492 4.49%
    $200k-400k 97 $25,665,000 $264,588 $2,958 4.27%
    $400k-600k 9 $4,515,000 $501,667 $4,166 3.81%

    2022 saw Dort Financial Credit Union place emphasis on $100,000 or less loans with 628 originations, totaling $29,760,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 249 $20,325,000 $81,627 $1,992 4.85%
    $50k or less 205 $12,685,000 $61,878 $1,661 4.83%
    $100k-150k 197 $19,725,000 $100,127 $1,904 4.79%
    $75k-100k 170 $17,770,000 $104,529 $2,061 5.05%
    $150k-250k 118 $14,670,000 $124,322 $2,377 4.67%
    $250k+ 32 $6,170,000 $192,813 $3,159 4.16%

    Dort Financial Credit Union lent most frequently to those with incomes in the $50k-75k range, with 249 originations. The second most popular income band? $50k or less, with 205 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 226 $22,930,000 $101,460 $1,969 4.49%
    30-36% 209 $20,985,000 $100,407 $1,943 4.79%
    <20% 137 $11,375,000 $83,029 $1,865 4.52%
    42% 67 $4,875,000 $72,761 $1,721 5.53%
    41% 43 $4,825,000 $112,209 $2,248 4.72%
    39% 36 $3,590,000 $99,722 $2,215 5.10%
    37% 35 $3,215,000 $91,857 $2,027 4.89%
    38% 35 $2,995,000 $85,571 $2,085 5.11%
    40% 34 $2,570,000 $75,588 $1,310 5.21%
    36% 31 $3,145,000 $101,452 $1,572 5.02%
    43% 29 $2,895,000 $99,828 $2,181 5.19%
    50-60% 20 $1,370,000 $68,500 $2,538 5.13%
    44% 17 $1,375,000 $80,882 $2,641 5.05%
    45% 9 $725,000 $80,556 $2,698 5.19%
    46% 8 $1,730,000 $216,250 $2,582 4.70%
    48% 8 $610,000 $76,250 $2,839 4.86%
    >60% 8 $390,000 $48,750 $461 6.81%
    47% 7 $335,000 $47,857 $1,911 5.11%
    49% 7 $745,000 $106,429 $1,913 4.55%

    Dort Financial Credit Union lent most frequently to those with DTI ratios of 20-30%, with 226 originations. The next most common DTI ratio? 30-36%, with 209 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 844 $81,710,000 $96,813 $1,940 4.83%
    Black 58 $4,310,000 $74,310 $2,217 5.07%
    Not provided 56 $3,910,000 $69,821 $1,329 4.43%
    Asian 6 $1,100,000 $183,333 $2,502 4.60%
    American Indian 6 $290,000 $48,333 $546 4.92%
    Native Hawaiian or Islander 1 $25,000 $25,000 $492 3.75%

    Approval Rates

    Total approvals of all applications
    87.42%

    Dort Financial Credit Union has an average approval rate.

    Pick Rate

    Approvals leading to origination
    88.36%

    Dort Financial Credit Union has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 971 $91,345,000 $94,073

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    971 $91,345,000 $94,073

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 244 $18,350,000 $75,205 $1,107 5.05%
    40-60% 127 $14,725,000 $115,945 $1,894 4.60%
    60-80% 168 $27,110,000 $161,369 $2,629 4.34%
    80-100% 104 $18,130,000 $174,327 $2,923 4.57%
    Under 20% 303 $11,305,000 $37,310 $553 5.10%