Wanigas Credit Union Mortgage Rates, Fees & Info

Saginaw, MI

LEI: 254900ZEFON2JE2HO751

Tax ID: 38-1515480

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

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  • 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

    Wanigas Credit Union is a smaller credit union specializing in Home Purchase, Cash Out Refi, and Refi loans. Wanigas Credit Union has a high proportion of conventional loans. Their top markets by origination volume include: Saginaw, Bay City, Detroit, Midland, and Flint among others. We have data for 14 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Wanigas 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. Wanigas 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
    30 Year Conventional Purchase 6.80% 5/4/24
    30 Year Conventional Refi 7.20% 5/4/24
    30 Year Cash-out Refi 6.78% 5/4/24
    15 Year Conventional Purchase 6.12% 5/4/24
    15 Year Conventional Refi 6.24% 5/4/24
    15 Year Cash-out Refi 6.24% 5/4/24
    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.

    Wanigas Credit Union Mortgage Calculator






    Your Estimates

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

    This is not an official calculator from Wanigas 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

    325

    Origination Dollar Volume (All Markets)

    $31,505,000
    Show all (6) 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
    SAGINAW, MI (FHA|USDA|VA) 132 $11,160,000 $84,545 $1,691 4.80%
    BAY CITY, MI (FHA|USDA|VA) 97 $8,385,000 $86,443 $1,697 4.82%
    Outside of Metro Areas 39 $4,535,000 $116,282 $2,100 4.44%
    Detroit-Warren-Dearborn, MI (FHA|USDA|VA) 20 $3,000,000 $150,000 $1,818 5.06%
    MIDLAND, MI (FHA|USDA|VA) 19 $2,295,000 $120,789 $1,972 4.76%
    FLINT, MI (FHA|USDA|VA) 8 $1,140,000 $142,500 $1,917 4.83%
    Alma, MI (FHA|USDA|VA) 3 $185,000 $61,667 $1,813 4.63%
    Escanaba, MI (FHA|USDA|VA) 1 $185,000 $185,000 $2,278 3.75%
    Cadillac, MI (FHA|USDA|VA) 1 $145,000 $145,000 $2,162 4.75%
    LANSING-EAST LANSING, MI (FHA|USDA|VA) 1 $135,000 $135,000 $2,198 3.75%
    Alpena, MI (FHA|USDA|VA) 1 $115,000 $115,000 $1,720 4.25%
    Mount Pleasant, MI (FHA|USDA|VA) 1 $85,000 $85,000 $2,352 4.25%
    Traverse City, MI (FHA|USDA|VA) 1 $75,000 $75,000 $1,951 3.38%
    GRAND RAPIDS-KENTWOOD, MI (FHA|USDA|VA) 1 $65,000 $65,000 $1,872 4.50%
    Wanigas Credit Union's top markets include Saginaw, Bay City, Detroit, Midland, and Flint among others.

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

    • Similar Lenders

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

    United Bay Community Credit Union
    Similarity Rank: 32
    HEALTH ADVANTAGE FEDERAL CREDIT UNION
    Similarity Rank: 96
    Lake Huron Credit Union
    Similarity Rank: 120
    BIRMINGHAM-BLOOMFIELD Credit Union
    Similarity Rank: 159
    Dort Financial Credit Union
    Similarity Rank: 222
    MEMBERS FIRST Credit Union
    Similarity Rank: 256
    Polish-American Federal Credit Union
    Similarity Rank: 297
    ADVANTAGE ONE Credit Union
    Similarity Rank: 320
    Isabella Bank
    Similarity Rank: 324
    Wanigas Credit Union
    Similarity Rank: 350

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 325 $31,505,000 $96,938 $1,781 4.76%

    For 2019, Wanigas Credit Union's most frequently originated type of loan was Conventional, with 325 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 139 $17,195,000 $123,705 $2,172 4.13%
    Cash Out Refi 121 $7,605,000 $62,851 $1,359 5.69%
    Refi 59 $6,495,000 $110,085 $1,822 4.09%
    Home Improvement 6 $210,000 $35,000 $849 7.14%

    For 2019, Wanigas Credit Union's most frequently cited loan purpose was Home Purchase, with 139 originations. The 2nd most popular reason was Cash Out Refi, with 121 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 164 $20,340,000 $124,024 $2,146 4.28%
    15 Year 108 $7,260,000 $67,222 $1,379 5.37%
    10 Year 33 $1,865,000 $56,515 $1,163 5.57%
    20 Year 17 $1,655,000 $97,353 $2,020 3.88%
    Other 3 $385,000 $128,333 $1,791 5.00%

    For 2019, Wanigas Credit Union's most frequently cited loan duration was 30 Year, with 164 originations. The 2nd most popular length was 15 Year, with 108 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 309 $29,095,000 $94,159
    $1k-2k 10 $1,390,000 $139,000
    $2k-3k 6 $1,020,000 $170,000

    Wanigas Credit Union's average total fees were $2,146, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 309 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    3-4% 137 $16,285,000 $118,869
    4-5% 96 $10,930,000 $113,854
    6-7% 37 $1,355,000 $36,622
    7-8% 22 $690,000 $31,364
    5-6% 21 $1,615,000 $76,905
    Over 8% 10 $340,000 $34,000
    2.5-3% 1 $255,000 $255,000
    <2.5% 1 $35,000 $35,000

    During 2019, Wanigas Credit Union's average interest rate for loans was 4.28%, while their most frequently originated rate bucket for loans was 3-4%, with 137 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 198 $10,760,000 $54,343 $1,458 5.24%
    $100k-200k 99 $13,725,000 $138,636 $2,185 4.02%
    $200k-400k 28 $7,020,000 $250,714 $2,638 3.97%

    2019 saw Wanigas Credit Union place emphasis on $100,000 or less loans with 198 originations, totaling $10,760,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k or less 106 $6,930,000 $65,377 $1,720 4.70%
    $50k-75k 97 $8,625,000 $88,918 $1,685 4.98%
    $75k-100k 57 $6,385,000 $112,018 $1,882 4.73%
    $100k-150k 43 $5,365,000 $124,767 $1,802 4.68%
    $150k-250k 20 $3,720,000 $186,000 $2,193 4.35%
    $250k+ 2 $480,000 $240,000 $2,291 3.88%

    Wanigas Credit Union lent most frequently to those with incomes in the $50k or less range, with 106 originations. The second most popular income band? $50k-75k, with 97 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 98 $8,890,000 $90,714 $1,732 4.63%
    30-36% 64 $6,810,000 $106,406 $1,886 4.52%
    <20% 40 $4,180,000 $104,500 $1,962 4.06%
    36% 17 $1,465,000 $86,176 $1,616 5.03%
    40% 13 $875,000 $67,308 $1,323 6.01%
    42% 12 $840,000 $70,000 $1,392 6.26%
    39% 11 $875,000 $79,545 $1,439 5.53%
    45% 11 $945,000 $85,909 $1,583 5.40%
    37% 10 $1,050,000 $105,000 $1,770 5.15%
    44% 10 $1,360,000 $136,000 $2,068 4.06%
    47% 8 $1,160,000 $145,000 $2,398 4.31%
    38% 8 $840,000 $105,000 $1,938 5.03%
    43% 7 $695,000 $99,286 $2,110 4.71%
    41% 6 $830,000 $138,333 $1,840 4.69%
    49% 5 $465,000 $93,000 $2,273 3.70%
    48% 2 $150,000 $75,000 $1,346 7.06%
    50-60% 2 $60,000 $30,000 $789 7.00%
    46% 1 $15,000 $15,000 $780 8.37%

    Wanigas Credit Union lent most frequently to those with DTI ratios of 20-30%, with 98 originations. The next most common DTI ratio? 30-36%, with 64 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 301 $29,535,000 $98,123 $1,782 4.74%
    Black 12 $960,000 $80,000 $1,746 4.54%
    Asian 3 $465,000 $155,000 $1,740 5.71%
    American Indian 5 $265,000 $53,000 $1,602 5.32%
    Not provided 3 $235,000 $78,333 $2,123 5.50%
    Native Hawaiian or Islander 1 $45,000 $45,000 $2,049 4.25%

    Approval Rates

    Total approvals of all applications
    84.68%

    Wanigas Credit Union has a below average approval rate.

    Pick Rate

    Approvals leading to origination
    74.77%

    Wanigas Credit Union has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 325 $31,505,000 $96,938

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Single Family (1-4 Units):Manufactured 9 $1,155,000 $128,333
    Single Family (1-4 Units):Site-Built 316 $30,350,000 $96,044

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 33 $1,395,000 $42,273 $1,101 5.91%
    40-60% 29 $2,805,000 $96,724 $1,787 4.41%
    60-80% 97 $10,355,000 $106,753 $1,999 4.28%
    80-100% 131 $16,145,000 $123,244 $2,084 4.26%
    Under 20% 35 $805,000 $23,000 $680 7.18%