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:

  • 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

    Vibe Credit Union is a smaller credit union specializing in Refi, Home Purchase, and Cash Out Refi 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 Traverse City among others. We have data for 23 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.

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    SimulatedRates™

    Mortgage Type     		Simulated Rate Simulation Date
    30 Year Conventional Purchase 6.48% 4/21/24
    30 Year Conventional Refi 6.41% 4/21/24
    30 Year Cash-out Refi 6.62% 4/21/24
    15 Year Conventional Purchase 5.36% 4/21/24
    15 Year Conventional Refi 6.05% 4/21/24
    15 Year Cash-out Refi 6.05% 4/21/24
    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

    728

    Origination Dollar Volume (All Markets)

    $86,410,000

    Awards

    VIBE CREDIT UNION 30 Year Conventional Loans bronze VIBE CREDIT UNION 30 Year Conventional Loans bronze VIBE CREDIT UNION 30 Year Conventional Loans silver VIBE CREDIT UNION 30 Year Conventional Loans bronze
    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
    Detroit-Warren-Dearborn, MI (FHA|USDA|VA) 653 $77,195,000 $118,216 $1,244 4.39%
    FLINT, MI (FHA|USDA|VA) 16 $2,100,000 $131,250 $1,720 4.05%
    ANN ARBOR, MI (FHA|USDA|VA) 11 $1,575,000 $143,182 $1,890 3.79%
    Outside of Metro Areas 16 $1,440,000 $90,000 $1,585 3.92%
    GRAND RAPIDS-KENTWOOD, MI (FHA|USDA|VA) 5 $965,000 $193,000 $1,111 4.14%
    Traverse City, MI (FHA|USDA|VA) 4 $450,000 $112,500 $1,010 4.52%
    Adrian, MI (FHA|USDA|VA) 4 $440,000 $110,000 $1,257 5.75%
    KALAMAZOO-PORTAGE, MI (FHA|USDA|VA) 1 $285,000 $285,000 $2,332 3.88%
    ATLANTA-SANDY SPRINGS-ALPHARETTA, GA (FHA|USDA|VA) 1 $235,000 $235,000 $3,683 3.25%
    JACKSON, MI (FHA|USDA|VA) 2 $190,000 $95,000 $2,052 4.00%
    TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) 1 $185,000 $185,000 $4,737 3.75%
    MONROE, MI (FHA|USDA|VA) 2 $180,000 $90,000 $1,089 4.62%
    North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) 1 $145,000 $145,000 $4,385 3.88%
    NAPLES-MARCO ISLAND, FL (FHA|USDA|VA) 1 $135,000 $135,000 $3,416 4.75%
    MINNEAPOLIS-ST. PAUL-BLOOMINGTON, MN-WI (FHA|USDA|VA) 1 $135,000 $135,000 $2,702 3.38%
    Ludington, MI (FHA|USDA|VA) 1 $125,000 $125,000 $2,156 4.13%
    LANSING-EAST LANSING, MI (FHA|USDA|VA) 2 $110,000 $55,000 $435 4.04%
    Holland, MI (FHA|USDA|VA) 1 $105,000 $105,000 $1,776 4.38%
    MEMPHIS, TN-MS-AR (FHA|USDA|VA) 1 $105,000 $105,000 $3,487 3.75%
    DELTONA-DAYTONA BEACH-ORMOND BEACH, FL (FHA|USDA|VA) 1 $95,000 $95,000 $3,854 4.75%
    LAFAYETTE-WEST LAFAYETTE, IN (FHA|USDA|VA) 1 $95,000 $95,000 $3,833 4.38%
    Alpena, MI (FHA|USDA|VA) 1 $65,000 $65,000 $1,804 3.63%
    MIDLAND, MI (FHA|USDA|VA) 1 $55,000 $55,000 $510 4.49%
    Vibe Credit Union's top markets include Detroit, Flint, Ann Arbor, Grand Rapids, and Traverse City among others.

    Their top states include:
  • Michigan (FHA|USDA|VA)
  • Florida (FHA|USDA|VA)
  • Georgia (FHA|USDA|VA)
  • Minnesota (FHA|USDA|VA)
  • Colorado (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.

    BIRMINGHAM-BLOOMFIELD Credit Union
    Similarity Rank: 159
    Polish-American Federal Credit Union
    Similarity Rank: 297
    ADVANTAGE ONE Credit Union
    Similarity Rank: 320
    Dort Financial Credit Union
    Similarity Rank: 444
    NEW ENGLAND FEDERAL CREDIT UNION
    Similarity Rank: 448
    Extra
    Similarity Rank: 572
    FreeStar Financial Credit Union
    Similarity Rank: 612
    UNIVERSITY OF MICHIGAN CREDIT UNION
    Similarity Rank: 935
    Zeal Credit Union
    Similarity Rank: 936
    COMMUNITY FINANCIAL CREDIT UNION
    Similarity Rank: 1100

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 727 $86,315,000 $118,728 $1,297 4.36%
    FHA 1 $95,000 $95,000 $3,833 4.38%

    For 2019, Vibe Credit Union's most frequently originated type of loan was Conventional, with 727 originations. Their 2nd most popular type was FHA, with 1 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Refi 226 $28,340,000 $125,398 $1,000 4.10%
    Home Improvement 194 $9,320,000 $48,041 $481 4.94%
    Home Purchase 155 $26,835,000 $173,129 $2,811 4.02%
    Cash Out Refi 152 $21,860,000 $143,816 $1,244 4.35%
    Other 1 $55,000 $55,000 $510 3.49%

    For 2019, Vibe Credit Union's most frequently cited loan purpose was Refi, with 226 originations. The 2nd most popular reason was Home Improvement, with 194 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 202 $38,420,000 $190,198 $2,762 3.97%
    20 Year 178 $20,470,000 $115,000 $720 4.89%
    15 Year 157 $16,205,000 $103,217 $940 4.61%
    10 Year 126 $8,430,000 $66,905 $604 4.21%
    5 Year 60 $2,680,000 $44,667 $473 3.74%
    Other 5 $205,000 $41,000 $488 4.00%

    For 2019, Vibe Credit Union's most frequently cited loan duration was 30 Year, with 202 originations. The 2nd most popular length was 20 Year, with 178 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 617 $65,285,000 $105,810
    $1k-2k 66 $11,530,000 $174,697
    $2k-3k 32 $7,060,000 $220,625
    $3k-4k 4 $700,000 $175,000
    $4k-5k 4 $920,000 $230,000
    $5k+ 3 $855,000 $285,000

    Vibe Credit Union's average total fees were $2,762, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 617 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    3-4% 346 $49,900,000 $144,220
    4-5% 244 $27,290,000 $111,844
    5-6% 92 $6,830,000 $74,239
    6-7% 40 $1,790,000 $44,750
    2.5-3% 4 $520,000 $130,000
    7-8% 2 $80,000 $40,000

    During 2019, Vibe Credit Union's average interest rate for loans was 3.97%, while their most frequently originated rate bucket for loans was 3-4%, with 346 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 358 $17,250,000 $48,184 $667 4.66%
    $100k-200k 250 $35,250,000 $141,000 $1,556 4.12%
    $200k-400k 109 $28,575,000 $262,156 $2,553 3.96%
    $400k-600k 9 $4,095,000 $455,000 $3,059 3.78%
    $600k-1MM 2 $1,240,000 $620,000 $3,070 3.88%

    2019 saw Vibe Credit Union place emphasis on $100,000 or less loans with 358 originations, totaling $17,250,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 196 $18,230,000 $93,010 $1,139 4.44%
    $100k-150k 144 $19,800,000 $137,500 $1,189 4.38%
    $50k or less 128 $10,540,000 $82,344 $1,202 4.26%
    $75k-100k 121 $14,595,000 $120,620 $1,476 4.40%
    $150k-250k 89 $15,405,000 $173,090 $1,623 4.32%
    $250k+ 20 $4,090,000 $204,500 $1,660 4.09%

    Vibe Credit Union lent most frequently to those with incomes in the $50k-75k range, with 196 originations. The second most popular income band? $100k-150k, with 144 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    <20% 195 $15,305,000 $78,487 $663 4.58%
    20-30% 172 $22,810,000 $132,616 $1,556 4.08%
    30-36% 116 $16,620,000 $143,276 $1,694 4.29%
    36% 20 $3,320,000 $166,000 $1,855 4.12%
    41% 18 $2,090,000 $116,111 $915 4.23%
    38% 17 $2,425,000 $142,647 $1,250 4.70%
    40% 17 $2,175,000 $127,941 $1,462 4.45%
    37% 16 $2,030,000 $126,875 $2,169 4.51%
    39% 16 $2,310,000 $144,375 $1,789 4.11%
    46% 15 $1,765,000 $117,667 $1,134 4.99%
    47% 14 $1,970,000 $140,714 $1,928 4.27%
    42% 13 $1,135,000 $87,308 $1,108 4.72%
    44% 13 $2,275,000 $175,000 $1,440 4.18%
    50-60% 13 $1,325,000 $101,923 $1,151 4.75%
    48% 12 $1,150,000 $95,833 $1,090 4.79%
    43% 11 $1,565,000 $142,273 $1,554 4.54%
    45% 10 $1,150,000 $115,000 $1,176 4.40%
    49% 3 $235,000 $78,333 $1,416 4.54%
    >60% 2 $530,000 $265,000 $2,808 4.18%

    Vibe Credit Union lent most frequently to those with DTI ratios of <20%, with 195 originations. The next most common DTI ratio? 20-30%, with 172 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 632 $77,060,000 $121,930 $1,316 4.33%
    Black 70 $5,980,000 $85,429 $1,283 4.58%
    Not provided 17 $1,825,000 $107,353 $716 4.84%
    Asian Indian 2 $440,000 $220,000 $397 3.64%
    American Indian 4 $420,000 $105,000 $1,687 4.50%
    Asian 1 $305,000 $305,000 $1,933 3.75%
    Other Asian 1 $225,000 $225,000 $1,840 3.50%
    Native Hawaiian or Islander 1 $155,000 $155,000 $2,202 3.75%

    Approval Rates

    Total approvals of all applications
    91.42%

    Vibe Credit Union has an average approval rate.

    Pick Rate

    Approvals leading to origination
    81.73%

    Vibe Credit Union has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 728 $86,410,000 $118,695

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Single Family (1-4 Units):Manufactured 2 $160,000 $80,000
    Single Family (1-4 Units):Site-Built 726 $86,250,000 $118,802

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 118 $8,000,000 $67,797 $625 4.55%
    40-60% 84 $10,840,000 $129,048 $1,195 4.01%
    60-80% 188 $33,370,000 $177,500 $1,815 4.03%
    80-100% 140 $24,270,000 $173,357 $2,158 4.25%
    Under 20% 163 $5,705,000 $35,000 $466 4.93%