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

Jump to:

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 Cash Out Refi and Home Purchase loans. Blueox Credit Union has a high proportion of conventional loans. Their top markets by origination volume include: Battle Creek, Jackson, Coldwater, Kalamazoo, and Detroit among others. We have data for 14 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.

    Mortgage professionals: We have various tools to make your lives easier. Contact us to see how we can help with your market research, analytics or advertising needs.


    Originations

    184

    Origination Dollar Volume (All Markets)

    $27,290,000

    Awards

    BlueOx Credit Union 30 Year Conventional Loans gold BlueOx Credit Union 30 Year Conventional Loans gold BlueOx Credit Union 30 Year Conventional Loans gold BlueOx Credit Union 30 Year Conventional Loans silver
    Show all (4) 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) 90 $11,890,000 $132,111 $2,173 3.08%
    JACKSON, MI (FHA|USDA|VA) 27 $4,625,000 $171,296 $2,250 3.13%
    Coldwater, MI (FHA|USDA|VA) 22 $2,490,000 $113,182 $2,109 3.17%
    KALAMAZOO-PORTAGE, MI (FHA|USDA|VA) 12 $2,390,000 $199,167 $2,276 3.18%
    Detroit-Warren-Dearborn, MI (FHA|USDA|VA) 13 $2,325,000 $178,846 $2,251 3.08%
    Outside of Metro Areas 7 $975,000 $139,286 $2,166 3.16%
    Traverse City, MI (FHA|USDA|VA) 2 $670,000 $335,000 $2,668 2.94%
    GRAND RAPIDS-KENTWOOD, MI (FHA|USDA|VA) 2 $520,000 $260,000 $2,574 3.13%
    Hillsdale, MI (FHA|USDA|VA) 4 $500,000 $125,000 $2,137 3.09%
    ANN ARBOR, MI (FHA|USDA|VA) 1 $275,000 $275,000 $2,274 3.25%
    Big Rapids, MI (FHA|USDA|VA) 1 $255,000 $255,000 $2,303 2.75%
    Adrian, MI (FHA|USDA|VA) 1 $175,000 $175,000 $2,333 3.25%
    LANSING-EAST LANSING, MI (FHA|USDA|VA) 1 $145,000 $145,000 $2,251 3.50%
    Alma, MI (FHA|USDA|VA) 1 $55,000 $55,000 $1,583 3.50%
    Blueox Credit Union's top markets include Battle Creek, Jackson, Coldwater, Kalamazoo, and Detroit 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.

    KALSEE CREDIT UNION
    Similarity Rank: 120
    Kellogg Community Credit Union
    Similarity Rank: 476
    OAK MORTGAGE, LLC
    Similarity Rank: 540
    OMNI Community Credit Union
    Similarity Rank: 672
    SUMMIT HOME MORTGAGE, LLC
    Similarity Rank: 741
    BlueOx Credit Union
    Similarity Rank: 756
    Comerica Bank
    Similarity Rank: 762
    CONSUMERS
    Similarity Rank: 1008
    ARBOR FINANCIAL CREDIT UNION
    Similarity Rank: 1014
    STAUNTON FINANCIAL, INC.
    Similarity Rank: 1015

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 184 $27,290,000 $148,315 $2,197 3.11%

    For 2021, Blueox Credit Union's most frequently originated type of loan was Conventional, with 184 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Cash Out Refi 73 $10,485,000 $143,630 $2,184 3.02%
    Home Purchase 59 $10,185,000 $172,627 $2,300 3.33%
    Refi 27 $3,385,000 $125,370 $2,096 2.97%
    Other 17 $2,455,000 $144,412 $2,160 2.96%
    Home Improvement 8 $780,000 $97,500 $1,973 3.17%

    For 2021, Blueox Credit Union's most frequently cited loan purpose was Cash Out Refi, with 73 originations. The 2nd most popular reason was Home Purchase, with 59 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 107 $18,395,000 $171,916 $2,282 3.28%
    15 Year 39 $4,265,000 $109,359 $2,076 2.74%
    20 Year 20 $3,050,000 $152,500 $2,170 3.22%
    10 Year 14 $1,110,000 $79,286 $2,110 2.64%
    Other 4 $470,000 $117,500 $1,541 3.39%

    For 2021, Blueox Credit Union's most frequently cited loan duration was 30 Year, with 107 originations. The 2nd most popular length was 15 Year, with 39 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $1k-2k 181 $27,035,000 $149,365
    $<1k 3 $255,000 $85,000

    Blueox Credit Union's average total fees were $2,282, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 181 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    3-4% 108 $17,480,000 $161,852
    2.5-3% 70 $9,410,000 $134,429
    <2.5% 5 $365,000 $73,000
    5-6% 1 $35,000 $35,000

    During 2021, Blueox Credit Union's average interest rate for loans was 3.28%, while their most frequently originated rate bucket for loans was 3-4%, with 108 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100k-200k 85 $12,245,000 $144,059 $2,179 3.16%
    $100,000 or less 60 $4,290,000 $71,500 $2,010 3.01%
    $200k-400k 36 $9,480,000 $263,333 $2,486 3.17%
    $400k-600k 3 $1,275,000 $425,000 $2,965 3.08%

    2021 saw Blueox Credit Union place emphasis on $100k-200k loans with 85 originations, totaling $12,245,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k or less 58 $5,880,000 $101,379 $2,109 3.11%
    $50k-75k 53 $7,025,000 $132,547 $2,184 3.16%
    $100k-150k 35 $6,935,000 $198,143 $2,247 3.08%
    $75k-100k 31 $5,595,000 $180,484 $2,232 3.05%
    $150k-250k 4 $1,170,000 $292,500 $2,743 3.28%
    $250k+ 2 $530,000 $265,000 $2,613 3.00%

    Blueox Credit Union lent most frequently to those with incomes in the $50k or less range, with 58 originations. The second most popular income band? $50k-75k, with 53 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 45 $6,185,000 $137,444 $2,150 3.04%
    30-36% 32 $4,110,000 $128,438 $2,199 3.08%
    <20% 27 $3,095,000 $114,630 $2,048 3.17%
    44% 9 $1,675,000 $186,111 $2,230 3.23%
    36% 9 $1,385,000 $153,889 $2,130 3.12%
    41% 8 $1,460,000 $182,500 $2,364 3.25%
    38% 7 $895,000 $127,857 $2,200 3.12%
    47% 6 $1,420,000 $236,667 $2,358 3.17%
    42% 5 $645,000 $129,000 $2,106 3.15%
    40% 5 $595,000 $119,000 $2,202 3.10%
    43% 5 $755,000 $151,000 $2,359 2.98%
    48% 5 $1,185,000 $237,000 $2,478 3.25%
    49% 4 $460,000 $115,000 $1,986 3.09%
    50-60% 4 $840,000 $210,000 $2,335 3.13%
    37% 3 $755,000 $251,667 $2,329 2.83%
    46% 3 $585,000 $195,000 $2,557 3.33%
    >60% 2 $460,000 $230,000 $2,427 3.38%
    45% 2 $220,000 $110,000 $2,164 2.81%
    39% 2 $450,000 $225,000 $2,397 3.38%

    Blueox Credit Union lent most frequently to those with DTI ratios of 20-30%, with 45 originations. The next most common DTI ratio? 30-36%, with 32 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 114 $17,140,000 $150,351 $2,203 3.10%
    Not provided 26 $4,210,000 $161,923 $2,276 3.21%
    Other Asian 25 $3,625,000 $145,000 $2,185 3.05%
    Black 10 $1,430,000 $143,000 $1,995 3.13%
    Asian 3 $325,000 $108,333 $2,156 3.44%
    American Indian 3 $245,000 $81,667 $2,047 3.13%
    Asian Indian 1 $175,000 $175,000 $2,538 2.63%
    Native Hawaiian or Islander 1 $75,000 $75,000 $2,315 2.63%
    Other Pacific Islander 1 $65,000 $65,000 $1,876 2.75%

    Approval Rates

    Total approvals of all applications
    94.19%

    Blueox Credit Union has an average approval rate.

    Pick Rate

    Approvals leading to origination
    69.57%

    Blueox Credit Union has a low pick rate. They may have issues with closing loans or may approve everyone, but with onerous loan terms.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 184 $27,290,000 $148,315

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    184 $27,290,000 $148,315

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 8 $520,000 $65,000 $1,947 2.75%
    40-60% 33 $3,215,000 $97,424 $2,045 2.94%
    60-80% 71 $10,775,000 $151,761 $2,234 3.07%
    80-100% 71 $12,635,000 $177,958 $2,262 3.28%

    Complaints

    Bank Name Product Issue 2021 CPFB Complaints % of Total Issues
    Blue Sky Capital Realty, Inc. Conventional home mortgage Struggling to pay mortgage 1 100.0%