Dort Financial Credit Union Mortgage Rates, Fees & Info

Grand Blanc, MI

LEI: 254900WQ6O9JA8WI5W89

Tax ID: 38-1440283

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

Jump to:

  • SimulatedRates™
  • Mortgage Calculator

    • Mortgage Data

  • Originations
  • 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 Purchase, Refi, and Cash Out Refi 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.) They have a low ratio of USDA loans. Their top markets by origination volume include: Flint, Detroit, Lansing, Saginaw, and Grand Rapids among others. We have data for 6 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Dort Financial Credit Union has an above 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.

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    SimulatedRates™

    Mortgage Type     		Simulated Rate Simulation Date
    Home Equity Line of Credit (HELOC) 8.57% 4/21/24
    30 Year Conventional Purchase 6.15% 4/21/24
    30 Year Conventional Refi 6.09% 4/21/24
    30 Year Cash-out Refi 6.18% 4/21/24
    30 Year FHA Purchase 7.33% 4/21/24
    30 Year FHA Refi 6.27% 4/21/24
    15 Year Conventional Purchase 5.62% 4/21/24
    15 Year Conventional Refi 6.09% 4/21/24
    15 Year Cash-out Refi 6.09% 4/21/24
    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

    848

    Origination Dollar Volume (All Markets)

    $101,360,000
    Show all (10) awards

    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) 589 $61,895,000 $105,085 $1,935 4.13%
    Outside of Metro Areas 121 $19,195,000 $158,636 $2,124 3.87%
    Detroit-Warren-Dearborn, MI (FHA|USDA|VA) 120 $18,660,000 $155,500 $2,144 3.89%
    LANSING-EAST LANSING, MI (FHA|USDA|VA) 14 $1,300,000 $92,857 $2,021 4.08%
    SAGINAW, MI (FHA|USDA|VA) 3 $245,000 $81,667 $1,531 4.42%
    GRAND RAPIDS-KENTWOOD, MI (FHA|USDA|VA) 1 $65,000 $65,000 $884 3.00%
    Dort Financial Credit Union's top markets include Flint, Detroit, Lansing, Saginaw, and Grand Rapids 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.

    HEALTH ADVANTAGE FEDERAL CREDIT UNION
    Similarity Rank: 96
    Lake Huron Credit Union
    Similarity Rank: 120
    Wanigas Credit Union
    Similarity Rank: 126
    Isabella Bank
    Similarity Rank: 144
    BIRMINGHAM-BLOOMFIELD Credit Union
    Similarity Rank: 159
    LAFCU
    Similarity Rank: 289
    Polish-American Federal Credit Union
    Similarity Rank: 297
    ADVANTAGE ONE Credit Union
    Similarity Rank: 320
    PFCU
    Similarity Rank: 420
    Dort Financial Credit Union
    Similarity Rank: 444

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 798 $95,960,000 $120,251 $1,869 4.03%
    FHA 41 $4,295,000 $104,756 $3,983 4.67%
    USDA 7 $805,000 $115,000 $2,824 4.20%
    VA 2 $300,000 $150,000 $6,472 3.63%

    For 2019, Dort Financial Credit Union's most frequently originated type of loan was Conventional, with 798 originations. Their 2nd most popular type was FHA, with 41 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 319 $41,735,000 $130,831 $2,564 4.08%
    Refi 189 $27,645,000 $146,270 $1,962 3.71%
    Cash Out Refi 183 $23,825,000 $130,191 $2,056 3.84%
    Home Improvement 106 $6,460,000 $60,943 $985 4.63%
    Other 51 $1,695,000 $33,235 $359 4.82%

    For 2019, Dort Financial Credit Union's most frequently cited loan purpose was Home Purchase, with 319 originations. The 2nd most popular reason was Refi, with 189 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 438 $64,420,000 $147,078 $2,536 3.92%
    15 Year 146 $16,520,000 $113,151 $1,873 3.67%
    10 Year 138 $6,790,000 $49,203 $619 4.88%
    20 Year 97 $12,585,000 $129,742 $2,037 4.07%
    5 Year 26 $580,000 $22,308 $346 4.07%
    Other 3 $465,000 $155,000 $3,906 4.00%

    For 2019, Dort Financial Credit Union's most frequently cited loan duration was 30 Year, with 438 originations. The 2nd most popular length was 15 Year, with 146 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 650 $72,380,000 $111,354
    $1k-2k 131 $17,055,000 $130,191
    $2k-3k 48 $7,980,000 $166,250
    $3k-4k 11 $2,235,000 $203,182
    $5k+ 6 $1,270,000 $211,667
    $4k-5k 2 $440,000 $220,000

    Dort Financial Credit Union's average total fees were $2,536, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 650 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    3-4% 468 $65,990,000 $141,004
    4-5% 249 $24,085,000 $96,727
    2.5-3% 55 $7,825,000 $142,273
    5-6% 41 $2,465,000 $60,122
    6-7% 21 $685,000 $32,619
    Over 8% 8 $170,000 $21,250
    7-8% 6 $140,000 $23,333

    During 2019, Dort Financial Credit Union's average interest rate for loans was 3.92%, while their most frequently originated rate bucket for loans was 3-4%, with 468 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 391 $20,735,000 $53,031 $1,314 4.45%
    $100k-200k 335 $47,015,000 $140,343 $2,475 3.73%
    $200k-400k 115 $29,845,000 $259,522 $2,794 3.67%
    $400k-600k 5 $2,365,000 $473,000 $3,464 3.75%
    $600k-1MM 2 $1,400,000 $700,000 $3,101 4.25%

    2019 saw Dort Financial Credit Union place emphasis on $100,000 or less loans with 391 originations, totaling $20,735,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 272 $30,590,000 $112,463 $1,960 4.08%
    $50k or less 241 $18,255,000 $75,747 $1,842 4.19%
    $75k-100k 138 $17,950,000 $130,072 $2,097 4.04%
    $100k-150k 136 $19,780,000 $145,441 $2,033 3.99%
    $150k-250k 54 $12,560,000 $232,593 $2,211 3.68%
    $250k+ 7 $2,225,000 $317,857 $3,633 3.27%

    Dort Financial Credit Union lent most frequently to those with incomes in the $50k-75k range, with 272 originations. The second most popular income band? $50k or less, with 241 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 222 $24,270,000 $109,324 $1,915 4.09%
    30-36% 181 $22,175,000 $122,514 $1,971 3.94%
    <20% 90 $9,940,000 $110,444 $1,670 3.78%
    42% 44 $5,990,000 $136,136 $2,028 4.18%
    40% 42 $4,640,000 $110,476 $2,086 4.22%
    39% 41 $5,295,000 $129,146 $1,853 4.27%
    41% 38 $4,910,000 $129,211 $1,941 4.24%
    38% 36 $5,050,000 $140,278 $2,112 4.01%
    37% 33 $4,075,000 $123,485 $2,243 4.16%
    36% 32 $3,800,000 $118,750 $2,106 4.04%
    43% 25 $2,645,000 $105,800 $2,362 4.27%
    44% 21 $2,695,000 $128,333 $2,515 4.05%
    48% 8 $1,400,000 $175,000 $3,055 4.08%
    50-60% 8 $830,000 $103,750 $1,979 4.38%
    45% 7 $785,000 $112,143 $2,222 3.88%
    49% 7 $1,535,000 $219,286 $2,786 3.98%
    46% 6 $590,000 $98,333 $2,143 4.88%
    47% 5 $585,000 $117,000 $1,889 4.25%
    >60% 2 $150,000 $75,000 $1,043 3.75%

    Dort Financial Credit Union lent most frequently to those with DTI ratios of 20-30%, with 222 originations. The next most common DTI ratio? 30-36%, with 181 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 726 $91,650,000 $126,240 $2,065 3.99%
    Black 61 $6,845,000 $112,213 $2,491 4.30%
    Not provided 54 $2,110,000 $39,074 $453 4.68%
    Asian 3 $395,000 $131,667 $2,900 3.75%
    Asian Indian 1 $185,000 $185,000 $1,942 3.50%
    American Indian 2 $120,000 $60,000 $807 4.19%
    Other Pacific Islander 1 $55,000 $55,000 $254 3.50%

    Approval Rates

    Total approvals of all applications
    91.00%

    Dort Financial Credit Union has an average approval rate.

    Pick Rate

    Approvals leading to origination
    84.79%

    Dort Financial Credit Union has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 848 $101,360,000 $119,528

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Single Family (1-4 Units):Manufactured 6 $520,000 $86,667
    Single Family (1-4 Units):Site-Built 842 $100,840,000 $119,762

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 89 $5,095,000 $57,247 $848 4.35%
    40-60% 108 $12,220,000 $113,148 $1,751 3.83%
    60-80% 285 $41,575,000 $145,877 $2,289 3.73%
    80-100% 274 $39,590,000 $144,489 $2,641 4.04%
    Over 100% 4 $370,000 $92,500 $1,491 4.97%
    Under 20% 80 $1,880,000 $23,500 $352 5.15%