Vibe Credit Union Mortgage Rates, Fees & Info

Novi, MI

LEI: 5493001XRDEGNB7US825

Tax ID: 38-1497358

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

Jump to:

Mortgage Data

Review & Overview

Vibe Credit Union is a smaller credit union specializing in Home Improvement, Refi, and Home Purchase loans. Vibe 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.) Their top markets by origination volume include: Detroit, Flint, Ann Arbor, Grand Rapids, and Homosassa Springs among others. We have data for 15 markets. (Some data included below & more in-depth data is available with an active subscription.)

Vibe 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. Vibe 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.

SimulatedRates™

Mortgage Type
Simulated Rate Simulation Date
30 Year Conventional Purchase 6.48% 3/28/24
30 Year Conventional Refi 6.41% 3/28/24
30 Year Cash-out Refi 6.62% 3/28/24
15 Year Conventional Purchase 5.36% 3/28/24
15 Year Conventional Refi 6.05% 3/28/24
15 Year Cash-out Refi 6.05% 3/28/24
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.

Vibe Credit Union Mortgage Calculator






Your Estimates

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

This is not an official calculator from Vibe 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

486

Origination Dollar Volume (All Markets)

$40,510,000

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
Detroit-Warren-Dearborn, MI (FHA|USDA|VA) 430 $35,010,000 $81,419 $907 4.54%
FLINT, MI (FHA|USDA|VA) 26 $2,820,000 $108,462 $1,585 4.62%
Outside of Metro Areas 14 $1,040,000 $74,286 $1,450 4.37%
ANN ARBOR, MI (FHA|USDA|VA) 1 $235,000 $235,000 $3,268 4.75%
GRAND RAPIDS-KENTWOOD, MI (FHA|USDA|VA) 3 $225,000 $75,000 $324 4.09%
HOMOSASSA SPRINGS, FL (FHA|USDA|VA) 2 $220,000 $110,000 $3,337 4.69%
NASHVILLE-DAVIDSON-MURFREESBORO-FRANKLIN, TN (FHA|USDA|VA) 1 $215,000 $215,000 $7,458 4.75%
Iron Mountain, MI-WI (FHA|USDA|VA) 1 $215,000 $215,000 $2,810 4.75%
KALAMAZOO-PORTAGE, MI (FHA|USDA|VA) 2 $120,000 $60,000 $474 5.00%
TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) 1 $95,000 $95,000 $3,084 4.75%
JACKSON, MI (FHA|USDA|VA) 1 $85,000 $85,000 $474 5.49%
Sault Ste. Marie, MI (FHA|USDA|VA) 1 $85,000 $85,000 $2,858 5.00%
Chicago-Naperville-Elgin, IL-IN-WI (FHA|USDA|VA) 1 $75,000 $75,000 $2,315 4.13%
LANSING-EAST LANSING, MI (FHA|USDA|VA) 1 $55,000 $55,000 $584 5.49%
Cadillac, MI (FHA|USDA|VA) 1 $15,000 $15,000 $474 3.29%
Vibe Credit Union's top markets include Detroit, Flint, Ann Arbor, Grand Rapids, and Homosassa Springs among others.

Their top states include:
  • Michigan (FHA|USDA|VA)
  • Florida (FHA|USDA|VA)
  • Wisconsin (FHA|USDA|VA)
  • Tennessee (FHA|USDA|VA)
  • Illinois (FHA|USDA|VA)
  • Similar Lenders

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

    St James Mortgage Corporation
    Similarity Rank: 120
    Dort Financial Credit Union
    Similarity Rank: 180
    FINANCIAL PLUS CREDIT UNION
    Similarity Rank: 280
    FreeStar Financial Credit Union
    Similarity Rank: 345
    Extra
    Similarity Rank: 436
    Vibe Credit Union
    Similarity Rank: 448
    TEAM ONE CREDIT UNION
    Similarity Rank: 480
    Northstar Bank
    Similarity Rank: 582
    ELGA CREDIT UNION
    Similarity Rank: 675

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 427 $37,265,000 $87,272 $988 4.49%
    HELOC 56 $2,920,000 $52,143 n/a 4.92%
    FHA 3 $325,000 $108,333 $3,329 4.50%

    For 2018, Vibe Credit Union's most frequently originated type of loan was Conventional, with 427 originations. Their 2nd most popular type was HELOC, with 56 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Improvement 262 $14,380,000 $54,885 $473 4.61%
    Refi 121 $12,175,000 $100,620 $640 4.29%
    Home Purchase 62 $9,160,000 $147,742 $3,112 4.64%
    Cash Out Refi 33 $4,365,000 $132,273 $1,707 4.57%
    Other 8 $430,000 $53,750 $491 5.15%

    For 2018, Vibe Credit Union's most frequently cited loan purpose was Home Improvement, with 262 originations. The 2nd most popular reason was Refi, with 121 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    15 Year 141 $10,415,000 $73,865 $648 4.83%
    20 Year 140 $12,380,000 $88,429 $717 4.68%
    10 Year 77 $4,665,000 $60,584 $490 4.27%
    30 Year 69 $10,655,000 $154,420 $3,075 4.74%
    Other 59 $2,395,000 $40,593 $454 3.67%

    For 2018, Vibe Credit Union's most frequently cited loan duration was 15 Year, with 141 originations. The 2nd most popular length was 20 Year, with 140 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 375 $27,255,000 $72,680
    $1k-2k 46 $8,410,000 $182,826
    $2k-3k 7 $1,285,000 $183,571
    $5k+ 2 $640,000 $320,000

    Vibe Credit Union's average total fees were $3,075, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 375 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    4-5% 301 $28,125,000 $93,439
    3-4% 95 $6,795,000 $71,526
    5-6% 80 $4,990,000 $62,375
    2.5-3% 10 $600,000 $60,000

    During 2018, Vibe Credit Union's average interest rate for loans was 4.74%, while their most frequently originated rate bucket for loans was 4-5%, with 301 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 335 $16,505,000 $49,269 $658 4.57%
    $100k-200k 127 $18,185,000 $143,189 $1,273 4.42%
    $200k-400k 23 $5,395,000 $234,565 $3,449 4.69%
    $400k-600k 1 $425,000 $425,000 $8,502 4.63%

    2018 saw Vibe Credit Union place emphasis on $100,000 or less loans with 335 originations, totaling $16,505,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 160 $13,350,000 $83,438 $1,073 4.56%
    $50k or less 108 $7,160,000 $66,296 $861 4.32%
    $75k-100k 93 $7,525,000 $80,914 $996 4.59%
    $100k-150k 88 $8,000,000 $90,909 $1,024 4.69%
    $150k-250k 32 $3,620,000 $113,125 $860 4.65%
    $250k+ 5 $855,000 $171,000 $3,033 4.52%

    Vibe Credit Union lent most frequently to those with incomes in the $50k-75k range, with 160 originations. The second most popular income band? $50k or less, with 108 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 107 $9,295,000 $86,869 $1,011 4.45%
    30-36% 103 $9,125,000 $88,592 $1,168 4.61%
    <20% 62 $4,050,000 $65,323 $506 4.24%
    39% 21 $1,805,000 $85,952 $722 4.87%
    40% 21 $1,815,000 $86,429 $731 4.62%
    38% 21 $2,005,000 $95,476 $1,008 4.66%
    41% 20 $1,090,000 $54,500 $958 4.69%
    37% 20 $1,720,000 $86,000 $926 4.67%
    47% 13 $1,095,000 $84,231 $1,006 4.42%
    42% 12 $930,000 $77,500 $1,188 4.89%
    50-60% 11 $1,125,000 $102,273 $1,267 4.50%
    44% 11 $1,105,000 $100,455 $1,478 4.49%
    43% 11 $565,000 $51,364 $810 4.74%
    45% 10 $730,000 $73,000 $931 4.27%
    46% 10 $950,000 $95,000 $1,602 4.58%
    48% 9 $825,000 $91,667 $1,173 4.77%
    36% 8 $660,000 $82,500 $887 4.85%
    >60% 7 $405,000 $57,857 $649 4.32%
    49% 6 $620,000 $103,333 $1,817 4.62%

    Vibe Credit Union lent most frequently to those with DTI ratios of 20-30%, with 107 originations. The next most common DTI ratio? 30-36%, with 103 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 341 $30,995,000 $90,894 $1,165 4.54%
    Not provided 120 $7,280,000 $60,667 $471 4.53%
    Black 19 $1,745,000 $91,842 $1,370 4.77%
    Not applicable 4 $350,000 $87,500 $509 4.44%
    American Indian 2 $140,000 $70,000 $486 3.84%

    Approval Rates

    Total approvals of all applications
    92.38%

    Vibe Credit Union has an average approval rate.

    Pick Rate

    Approvals leading to origination
    75.31%

    Vibe Credit Union has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 486 $40,510,000 $83,354

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Single Family (1-4 Units):Site-Built 486 $40,510,000 $83,354

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 122 $7,540,000 $61,803 $537 4.55%
    40-60% 50 $4,910,000 $98,200 $906 4.34%
    60-80% 76 $10,090,000 $132,763 $1,104 4.33%
    80-100% 86 $12,320,000 $143,256 $2,236 4.65%
    Over 100% 1 $125,000 $125,000 $474 4.39%
    Under 20% 147 $4,895,000 $33,299 $462 4.64%