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 Refi, Cash Out Refi, and Home Purchase 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 15 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

    636

    Origination Dollar Volume (All Markets)

    $79,920,000
    Show all (7) 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) 303 $36,485,000 $120,413 $1,939 3.18%
    BAY CITY, MI (FHA|USDA|VA) 171 $18,725,000 $109,503 $1,956 3.18%
    Outside of Metro Areas 68 $8,070,000 $118,676 $2,197 3.01%
    Detroit-Warren-Dearborn, MI (FHA|USDA|VA) 35 $7,215,000 $206,143 $2,265 3.15%
    MIDLAND, MI (FHA|USDA|VA) 23 $3,095,000 $134,565 $2,007 2.95%
    FLINT, MI (FHA|USDA|VA) 11 $1,685,000 $153,182 $1,965 2.92%
    GRAND RAPIDS-KENTWOOD, MI (FHA|USDA|VA) 5 $1,645,000 $329,000 $2,344 3.08%
    LANSING-EAST LANSING, MI (FHA|USDA|VA) 4 $810,000 $202,500 $1,996 4.09%
    Traverse City, MI (FHA|USDA|VA) 3 $525,000 $175,000 $2,203 3.08%
    JACKSON, MI (FHA|USDA|VA) 2 $320,000 $160,000 $2,404 3.31%
    Cadillac, MI (FHA|USDA|VA) 2 $320,000 $160,000 $2,050 2.75%
    ANN ARBOR, MI (FHA|USDA|VA) 2 $310,000 $155,000 $2,184 2.88%
    MONROE, MI (FHA|USDA|VA) 2 $260,000 $130,000 $2,569 2.75%
    Alma, MI (FHA|USDA|VA) 3 $235,000 $78,333 $1,272 4.67%
    NILES, MI (FHA|USDA|VA) 2 $220,000 $110,000 $2,375 2.63%
    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.

    Great Lakes Federal Credit Union
    Similarity Rank: 28
    FinancialEdge Community Credit Union
    Similarity Rank: 54
    SUNRISE FAMILY CREDIT UNION
    Similarity Rank: 55
    HEALTH ADVANTAGE FEDERAL CREDIT UNION
    Similarity Rank: 154
    JOLT CREDIT UNION
    Similarity Rank: 171
    ADVANTAGE ONE Credit Union
    Similarity Rank: 287
    MEMBERS FIRST Credit Union
    Similarity Rank: 304
    SECURITY CREDIT UNION
    Similarity Rank: 387
    St James Mortgage Corporation
    Similarity Rank: 408
    Polish-American Federal Credit Union
    Similarity Rank: 434

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 636 $79,920,000 $125,660 $2,000 3.16%

    For 2020, Wanigas Credit Union's most frequently originated type of loan was Conventional, with 636 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Refi 305 $41,355,000 $135,590 $1,984 2.80%
    Cash Out Refi 173 $17,855,000 $103,208 $1,863 3.73%
    Home Purchase 157 $20,545,000 $130,860 $2,180 3.22%
    Home Improvement 1 $165,000 $165,000 $2,301 2.50%

    For 2020, Wanigas Credit Union's most frequently cited loan purpose was Refi, with 305 originations. The 2nd most popular reason was Cash Out Refi, with 173 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 256 $37,310,000 $145,742 $2,157 3.28%
    15 Year 253 $28,575,000 $112,945 $1,905 3.03%
    10 Year 67 $5,915,000 $88,284 $1,745 3.17%
    20 Year 60 $8,120,000 $135,333 $2,014 3.15%

    For 2020, Wanigas Credit Union's most frequently cited loan duration was 30 Year, with 256 originations. The 2nd most popular length was 15 Year, with 253 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 614 $76,160,000 $124,039
    $1k-2k 17 $2,265,000 $133,235
    $3k-4k 2 $600,000 $300,000
    $2k-3k 1 $145,000 $145,000
    $4k-5k 1 $505,000 $505,000
    $5k+ 1 $245,000 $245,000

    Wanigas Credit Union's average total fees were $2,157, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 614 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    2.5-3% 241 $31,855,000 $132,178
    3-4% 186 $26,710,000 $143,602
    <2.5% 156 $17,700,000 $113,462
    4-5% 18 $1,960,000 $108,889
    6-7% 16 $500,000 $31,250
    5-6% 11 $905,000 $82,273
    7-8% 4 $140,000 $35,000
    Over 8% 4 $150,000 $37,500

    During 2020, Wanigas Credit Union's average interest rate for loans was 3.28%, while their most frequently originated rate bucket for loans was 2.5-3%, with 241 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 277 $18,635,000 $67,274 $1,757 3.36%
    $100k-200k 277 $38,495,000 $138,971 $2,101 2.97%
    $200k-400k 73 $18,275,000 $250,342 $2,345 3.08%
    $400k-600k 8 $3,540,000 $442,500 $3,493 3.17%
    $600k-1MM 1 $975,000 $975,000 $3,881 3.13%

    2020 saw Wanigas Credit Union place emphasis on $100,000 or less loans with 277 originations, totaling $18,635,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k or less 179 $14,075,000 $78,631 $1,831 3.38%
    $50k-75k 174 $19,070,000 $109,598 $1,958 3.11%
    $100k-150k 132 $21,930,000 $166,136 $2,139 3.02%
    $75k-100k 98 $12,810,000 $130,714 $2,040 3.07%
    $150k-250k 48 $9,810,000 $204,375 $2,230 3.06%
    $250k+ 5 $2,225,000 $445,000 $2,784 2.95%

    Wanigas Credit Union lent most frequently to those with incomes in the $50k or less range, with 179 originations. The second most popular income band? $50k-75k, with 174 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 214 $28,090,000 $131,262 $1,999 3.10%
    30-36% 135 $14,835,000 $109,889 $1,946 3.23%
    <20% 89 $10,445,000 $117,360 $1,981 2.79%
    37% 23 $2,655,000 $115,435 $2,001 3.33%
    39% 22 $3,230,000 $146,818 $1,981 3.47%
    36% 21 $3,045,000 $145,000 $2,096 3.00%
    38% 17 $1,915,000 $112,647 $1,855 3.20%
    40% 16 $1,730,000 $108,125 $2,218 3.73%
    44% 16 $2,440,000 $152,500 $2,181 3.51%
    43% 16 $1,760,000 $110,000 $1,822 3.61%
    42% 15 $1,875,000 $125,000 $2,045 3.44%
    41% 13 $1,835,000 $141,154 $2,096 3.21%
    45% 13 $2,125,000 $163,462 $2,218 3.48%
    47% 11 $1,405,000 $127,727 $2,010 2.78%
    46% 6 $940,000 $156,667 $1,852 2.96%
    49% 5 $875,000 $175,000 $2,319 2.93%
    48% 3 $515,000 $171,667 $2,064 3.00%
    50-60% 1 $205,000 $205,000 $2,346 5.25%

    Wanigas Credit Union lent most frequently to those with DTI ratios of 20-30%, with 214 originations. The next most common DTI ratio? 30-36%, with 135 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 581 $73,535,000 $126,566 $1,993 3.17%
    Black 25 $2,805,000 $112,200 $2,074 3.19%
    Not provided 20 $1,860,000 $93,000 $2,041 2.74%
    Asian 6 $1,180,000 $196,667 $2,266 3.08%
    American Indian 3 $285,000 $95,000 $1,867 2.58%
    Native Hawaiian or Islander 1 $255,000 $255,000 $1,947 3.25%

    Approval Rates

    Total approvals of all applications
    88.27%

    Wanigas Credit Union has an average approval rate.

    Pick Rate

    Approvals leading to origination
    75.79%

    Wanigas Credit Union has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 636 $79,920,000 $125,660

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Single Family (1-4 Units):Manufactured 17 $1,695,000 $99,706
    Single Family (1-4 Units):Site-Built 619 $78,225,000 $126,373

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 45 $2,895,000 $64,333 $1,567 3.81%
    40-60% 107 $11,915,000 $111,355 $1,968 2.76%
    60-80% 279 $38,945,000 $139,588 $2,080 2.98%
    80-100% 191 $25,815,000 $135,157 $2,092 3.23%
    Under 20% 14 $350,000 $25,000 $761 6.57%