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 Cash Out Refi, Home Purchase, and 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 21 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% 12/16/24
    30 Year Conventional Purchase 6.15% 12/16/24
    30 Year Conventional Refi 6.09% 12/16/24
    30 Year Cash-out Refi 6.18% 12/16/24
    30 Year FHA Purchase 7.33% 12/16/24
    30 Year FHA Refi 6.27% 12/16/24
    15 Year Conventional Purchase 5.62% 12/16/24
    15 Year Conventional Refi 6.09% 12/16/24
    15 Year Cash-out Refi 6.09% 12/16/24
    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

    756

    Origination Dollar Volume (All Markets)

    $101,920,000
    Show all (8) 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) 514 $62,760,000 $122,101 $2,292 3.26%
    Detroit-Warren-Dearborn, MI (FHA|USDA|VA) 127 $23,445,000 $184,606 $2,399 3.21%
    Outside of Metro Areas 48 $5,650,000 $117,708 $2,192 3.05%
    LANSING-EAST LANSING, MI (FHA|USDA|VA) 22 $2,810,000 $127,727 $2,226 3.09%
    SAGINAW, MI (FHA|USDA|VA) 19 $2,725,000 $143,421 $2,683 3.15%
    GRAND RAPIDS-KENTWOOD, MI (FHA|USDA|VA) 3 $1,155,000 $385,000 $3,128 2.83%
    ANN ARBOR, MI (FHA|USDA|VA) 5 $955,000 $191,000 $1,569 3.38%
    PUNTA GORDA, FL (FHA|USDA|VA) 1 $445,000 $445,000 $5,022 2.63%
    Ludington, MI (FHA|USDA|VA) 2 $260,000 $130,000 $1,238 3.63%
    JACKSON, MI (FHA|USDA|VA) 2 $230,000 $115,000 $1,468 3.06%
    Traverse City, MI (FHA|USDA|VA) 2 $230,000 $115,000 $3,659 3.19%
    MONROE, MI (FHA|USDA|VA) 1 $205,000 $205,000 $2,127 2.88%
    MIDLAND, MI (FHA|USDA|VA) 1 $185,000 $185,000 $3,257 2.88%
    HOMOSASSA SPRINGS, FL (FHA|USDA|VA) 1 $165,000 $165,000 $3,629 2.88%
    NAPLES-MARCO ISLAND, FL (FHA|USDA|VA) 1 $145,000 $145,000 $2,349 2.88%
    Adrian, MI (FHA|USDA|VA) 2 $130,000 $65,000 $1,293 4.44%
    Big Rapids, MI (FHA|USDA|VA) 1 $115,000 $115,000 $2,167 3.00%
    BAY CITY, MI (FHA|USDA|VA) 1 $105,000 $105,000 $2,963 2.88%
    Alma, MI (FHA|USDA|VA) 1 $85,000 $85,000 $2,927 2.75%
    OCALA, FL (FHA|USDA|VA) 1 $65,000 $65,000 $2,432 3.13%
    Cadillac, MI (FHA|USDA|VA) 1 $55,000 $55,000 $497 3.75%
    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.

    Isabella Bank
    Similarity Rank: 84
    1st State Financial, Ltd.
    Similarity Rank: 154
    JOLT CREDIT UNION
    Similarity Rank: 168
    Lake Huron Credit Union
    Similarity Rank: 204
    Polish-American Federal Credit Union
    Similarity Rank: 212
    UNITED FINANCIAL Credit Union
    Similarity Rank: 270
    St James Mortgage Corporation
    Similarity Rank: 304
    Wanigas Credit Union
    Similarity Rank: 390
    HEALTH ADVANTAGE FEDERAL CREDIT UNION
    Similarity Rank: 435
    TEAM ONE CREDIT UNION
    Similarity Rank: 578

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 720 $97,270,000 $135,097 $2,199 3.21%
    FHA 32 $4,120,000 $128,750 $4,766 3.55%
    USDA 3 $425,000 $141,667 $3,208 3.00%
    VA 1 $105,000 $105,000 $2,432 2.88%

    For 2021, Dort Financial Credit Union's most frequently originated type of loan was Conventional, with 720 originations. Their 2nd most popular type was FHA, with 32 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Cash Out Refi 221 $31,315,000 $141,697 $2,363 3.23%
    Home Purchase 204 $32,120,000 $157,451 $3,017 3.05%
    Refi 200 $27,050,000 $135,250 $2,107 2.89%
    Home Improvement 114 $10,620,000 $93,158 $1,522 3.76%
    Other 17 $815,000 $47,941 $880 5.83%

    For 2021, Dort Financial Credit Union's most frequently cited loan purpose was Cash Out Refi, with 221 originations. The 2nd most popular reason was Home Purchase, with 204 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 400 $64,880,000 $162,200 $2,807 3.09%
    15 Year 193 $23,695,000 $122,772 $2,108 2.85%
    10 Year 75 $4,615,000 $61,533 $952 4.54%
    20 Year 58 $7,510,000 $129,483 $2,178 3.20%
    5 Year 27 $695,000 $25,741 $519 4.26%
    Other 3 $525,000 $175,000 $2,058 3.79%

    For 2021, Dort Financial Credit Union's most frequently cited loan duration was 30 Year, with 400 originations. The 2nd most popular length was 15 Year, with 193 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 578 $73,920,000 $127,889
    $1k-2k 120 $17,200,000 $143,333
    $2k-3k 35 $5,405,000 $154,429
    $3k-4k 13 $2,295,000 $176,538
    $4k-5k 6 $1,520,000 $253,333
    $5k+ 4 $1,580,000 $395,000

    Dort Financial Credit Union's average total fees were $2,807, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 578 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    2.5-3% 386 $57,800,000 $149,741
    3-4% 280 $36,050,000 $128,750
    4-5% 44 $3,490,000 $79,318
    <2.5% 21 $3,615,000 $172,143
    6-7% 9 $375,000 $41,667
    Over 8% 8 $290,000 $36,250
    5-6% 6 $220,000 $36,667
    7-8% 2 $80,000 $40,000

    During 2021, Dort Financial Credit Union's average interest rate for loans was 3.09%, while their most frequently originated rate bucket for loans was 2.5-3%, with 386 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100k-200k 321 $44,325,000 $138,084 $2,582 3.01%
    $100,000 or less 300 $18,090,000 $60,300 $1,645 3.57%
    $200k-400k 117 $30,215,000 $258,248 $3,071 2.97%
    $400k-600k 15 $7,035,000 $469,000 $3,055 3.01%
    $600k-1MM 3 $2,255,000 $751,667 $6,683 2.96%

    2021 saw Dort Financial Credit Union place emphasis on $100k-200k loans with 321 originations, totaling $44,325,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 218 $25,340,000 $116,239 $2,249 3.18%
    $50k or less 217 $19,515,000 $89,931 $2,177 3.39%
    $100k-150k 129 $22,465,000 $174,147 $2,375 3.25%
    $75k-100k 128 $18,900,000 $147,656 $2,506 3.10%
    $150k-250k 52 $11,590,000 $222,885 $2,318 2.95%
    $250k+ 12 $4,110,000 $342,500 $3,108 3.33%

    Dort Financial Credit Union lent most frequently to those with incomes in the $50k-75k range, with 218 originations. The second most popular income band? $50k or less, with 217 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 199 $27,505,000 $138,216 $2,293 3.12%
    30-36% 154 $21,490,000 $139,545 $2,467 3.27%
    <20% 88 $7,840,000 $89,091 $1,888 2.99%
    40% 46 $8,230,000 $178,913 $2,396 3.42%
    42% 42 $5,710,000 $135,952 $1,954 3.57%
    37% 36 $5,100,000 $141,667 $2,292 3.30%
    36% 32 $4,540,000 $141,875 $2,447 3.11%
    38% 31 $3,565,000 $115,000 $1,873 3.43%
    39% 29 $4,245,000 $146,379 $2,529 3.05%
    41% 28 $4,350,000 $155,357 $2,042 3.22%
    44% 17 $2,335,000 $137,353 $3,185 3.20%
    43% 14 $1,350,000 $96,429 $2,386 3.88%
    46% 12 $2,160,000 $180,000 $3,529 2.83%
    48% 9 $1,025,000 $113,889 $2,558 4.03%
    47% 6 $1,040,000 $173,333 $2,614 3.25%
    45% 6 $670,000 $111,667 $2,779 2.98%
    50-60% 4 $380,000 $95,000 $2,165 3.75%
    49% 3 $385,000 $128,333 $3,255 3.13%

    Dort Financial Credit Union lent most frequently to those with DTI ratios of 20-30%, with 199 originations. The next most common DTI ratio? 30-36%, with 154 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 654 $88,080,000 $134,679 $2,270 3.20%
    Black 70 $9,190,000 $131,286 $2,616 3.49%
    Not provided 22 $3,150,000 $143,182 $2,497 3.26%
    Asian 6 $960,000 $160,000 $2,974 3.10%
    American Indian 2 $200,000 $100,000 $1,311 3.38%
    Native Hawaiian or Islander 1 $185,000 $185,000 $2,105 2.75%
    Other Asian 1 $155,000 $155,000 $2,155 2.63%

    Approval Rates

    Total approvals of all applications
    91.98%

    Dort Financial Credit Union has an average approval rate.

    Pick Rate

    Approvals leading to origination
    82.94%

    Dort Financial Credit Union has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 756 $101,920,000 $134,815

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    756 $101,920,000 $134,815

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 73 $5,365,000 $73,493 $1,420 3.76%
    40-60% 147 $17,745,000 $120,714 $2,056 3.14%
    60-80% 267 $43,195,000 $161,779 $2,612 3.02%
    80-100% 190 $30,310,000 $159,526 $2,937 3.08%
    Over 100% 1 $125,000 $125,000 $1,573 4.13%
    Under 20% 49 $1,525,000 $31,122 $605 4.60%