Blueox Credit Union Mortgage Rates, Fees & Info

Battle Creek, MI

LEI: 5493001I9VOT1BTB5V75

Tax ID: 38-1480245

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

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Mortgage Data

  • Originations
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • Complaints
  • 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

    Blueox Credit Union is a smaller credit union specializing in Home Purchase and Cash Out Refi loans. Blueox Credit Union has a high proportion of conventional loans. Their top markets by origination volume include: Battle Creek, Kalamazoo, Coldwater, Jackson, and Ann Arbor among others. We have data for 8 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Blueox 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. Blueox 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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    Originations

    73

    Origination Dollar Volume (All Markets)

    $8,385,000

    Awards

    BlueOx Credit Union 30 Year Conventional Loans bronze
    Show all (1) 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
    BATTLE CREEK, MI (FHA|USDA|VA) 50 $5,510,000 $110,200 $2,317 4.85%
    KALAMAZOO-PORTAGE, MI (FHA|USDA|VA) 5 $975,000 $195,000 $2,194 4.98%
    Coldwater, MI (FHA|USDA|VA) 7 $645,000 $92,143 $1,849 4.57%
    Outside of Metro Areas 4 $570,000 $142,500 $2,216 4.88%
    JACKSON, MI (FHA|USDA|VA) 4 $340,000 $85,000 $2,296 5.03%
    ANN ARBOR, MI (FHA|USDA|VA) 1 $205,000 $205,000 $2,414 4.25%
    Hillsdale, MI (FHA|USDA|VA) 1 $85,000 $85,000 $2,224 4.25%
    Detroit-Warren-Dearborn, MI (FHA|USDA|VA) 1 $55,000 $55,000 $2,045 4.38%
    Blueox Credit Union's top markets include Battle Creek, Kalamazoo, Coldwater, Jackson, and Ann Arbor among others.

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

    • Similar Lenders

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

    OMNI Community Credit Union
    Similarity Rank: 105
    Kellogg Community Credit Union
    Similarity Rank: 140
    BlueOx Credit Union
    Similarity Rank: 192
    TLC COMMUNITY Credit Union
    Similarity Rank: 253
    MICHIGAN STATE UNIVERSITY FEDERAL CREDIT UNION
    Similarity Rank: 308
    HOME MORTGAGE ASSURED CORPORATION
    Similarity Rank: 350
    SUMMIT HOME MORTGAGE, LLC
    Similarity Rank: 387
    County National Bank
    Similarity Rank: 493
    CONSUMERS
    Similarity Rank: 575
    Honor Credit Union
    Similarity Rank: 760

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 73 $8,385,000 $114,863 $2,254 4.82%

    For 2018, Blueox Credit Union's most frequently originated type of loan was Conventional, with 73 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 35 $4,755,000 $135,857 $2,580 4.92%
    Cash Out Refi 29 $2,715,000 $93,621 $1,920 4.75%
    Refi 5 $555,000 $111,000 $2,081 4.65%
    Home Improvement 3 $255,000 $85,000 $2,023 4.71%
    Other 1 $105,000 $105,000 $2,075 4.25%

    For 2018, Blueox Credit Union's most frequently cited loan purpose was Home Purchase, with 35 originations. The 2nd most popular reason was Cash Out Refi, with 29 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 27 $4,315,000 $159,815 $2,628 4.96%
    15 Year 17 $1,495,000 $87,941 $1,989 4.63%
    20 Year 17 $1,655,000 $97,353 $2,138 4.89%
    10 Year 8 $500,000 $62,500 $1,787 4.67%
    Other 4 $420,000 $105,000 $2,270 4.63%

    For 2018, Blueox Credit Union's most frequently cited loan duration was 30 Year, with 27 originations. The 2nd most popular length was 15 Year, with 17 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $1k-2k 52 $6,040,000 $116,154
    $<1k 21 $2,345,000 $111,667

    Blueox Credit Union's average total fees were $2,628, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 52 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    4-5% 49 $5,485,000 $111,939
    5-6% 22 $2,720,000 $123,636
    3-4% 2 $180,000 $90,000

    During 2018, Blueox Credit Union's average interest rate for loans was 4.96%, while their most frequently originated rate bucket for loans was 4-5%, with 49 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 40 $2,680,000 $67,000 $2,097 4.82%
    $100k-200k 28 $4,020,000 $143,571 $2,323 4.81%
    $200k-400k 4 $1,020,000 $255,000 $3,420 4.88%
    $600k-1MM 1 $665,000 $665,000 $1,917 4.63%

    2018 saw Blueox Credit Union place emphasis on $100,000 or less loans with 40 originations, totaling $2,680,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 26 $2,330,000 $89,615 $2,097 4.75%
    $50k or less 17 $1,255,000 $73,824 $2,092 4.86%
    $75k-100k 14 $1,800,000 $128,571 $2,261 4.79%
    $100k-150k 13 $2,025,000 $155,769 $2,760 4.91%
    $150k-250k 3 $975,000 $325,000 $2,294 4.92%

    Blueox Credit Union lent most frequently to those with incomes in the $50k-75k range, with 26 originations. The second most popular income band? $50k or less, with 17 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 28 $3,090,000 $110,357 $2,364 4.88%
    <20% 12 $1,120,000 $93,333 $2,353 4.84%
    30-36% 9 $925,000 $102,778 $2,218 4.72%
    39% 4 $310,000 $77,500 $1,504 4.41%
    41% 3 $295,000 $98,333 $2,102 4.71%
    42% 3 $355,000 $118,333 $2,310 4.71%
    40% 2 $750,000 $375,000 $2,009 4.81%
    36% 2 $250,000 $125,000 $2,114 5.06%
    37% 2 $240,000 $120,000 $2,094 4.94%
    38% 2 $130,000 $65,000 $2,224 4.81%
    45% 2 $250,000 $125,000 $2,258 5.19%
    46% 2 $340,000 $170,000 $2,382 4.63%
    47% 1 $175,000 $175,000 $2,559 5.00%
    50-60% 1 $155,000 $155,000 $2,155 4.75%

    Blueox Credit Union lent most frequently to those with DTI ratios of 20-30%, with 28 originations. The next most common DTI ratio? <20%, with 12 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 60 $7,350,000 $122,500 $2,299 4.81%
    Asian 5 $445,000 $89,000 $2,158 4.85%
    Not provided 3 $265,000 $88,333 $2,126 5.13%
    Black 4 $210,000 $52,500 $1,873 4.69%
    Other Asian 1 $115,000 $115,000 $1,916 4.88%

    Approval Rates

    Total approvals of all applications
    97.62%

    Blueox Credit Union has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.

    Pick Rate

    Approvals leading to origination
    87.67%

    Blueox Credit Union has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 73 $8,385,000 $114,863

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Single Family (1-4 Units):Manufactured 3 $315,000 $105,000
    Single Family (1-4 Units):Site-Built 70 $8,070,000 $115,286

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 3 $225,000 $75,000 $2,091 4.71%
    40-60% 14 $1,120,000 $80,000 $1,943 4.72%
    60-80% 29 $3,345,000 $115,345 $2,115 4.89%
    80-100% 27 $3,695,000 $136,852 $2,581 4.80%

    Complaints

    Bank Name Product Issue 2018 CPFB Complaints % of Total Issues
    Blue Sky Capital Realty, Inc. Conventional home mortgage Struggling to pay mortgage 1 100.0%