Marshall Community Credit Union Mortgage Rates, Fees & Info

Marshall, MI

LEI: 5493004R1ELTGT9LUL33

Tax ID: 38-1444840

5 stars - Updated: 2/25/24 - out of 5 stars, based on 19 reviews

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

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Mortgage Data

Review & Overview

Marshall Community Credit Union is a smaller credit union specializing in Refi, Cash Out Refi, and Home Purchase loans. Marshall Community Credit Union has a high proportion of conventional loans. Their top markets by origination volume include: Battle Creek, Coldwater, Lansing, Kalamazoo, and Jackson among others. We have data for 12 markets. (Some data included below & more in-depth data is available with an active subscription.)

Marshall Community 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. Marshall Community 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 0.62% 2/25/24
30 Year Conventional Refi 0.58% 2/25/24
30 Year Cash-out Refi 0.49% 2/25/24
15 Year Conventional Purchase 0.91% 2/25/24
15 Year Conventional Refi 1.03% 2/25/24
15 Year Cash-out Refi 1.03% 2/25/24
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.

Marshall Community Credit Union Mortgage Calculator






Your Estimates

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

This is not an official calculator from Marshall Community 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

353

Origination Dollar Volume (All Markets)

$48,025,000

Relative Rate

Marshall Community Credit Union's average 30 year fixed mortgage rate was 4.68%.

The 2022 average 30 year fixed rate mortgage across all markets and lenders was 4.76%.

This yields a difference of -0.08%.

Relative Fees (Closing Costs)

Marshall Community Credit Union's average total fees/closing costs for a 30 year fixed rate mortgage were $2,155.

The average total origination fees for 30 year fixed rate mortgages across all lenders (for all loan values, including both points & up-front fees in addition to origination fees) were $4,750.

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) 260 $34,930,000 $134,346 $1,741 4.66%
Coldwater, MI (FHA|USDA|VA) 28 $3,660,000 $130,714 $1,920 4.82%
Outside of Metro Areas 19 $3,105,000 $163,421 $2,048 4.96%
LANSING-EAST LANSING, MI (FHA|USDA|VA) 21 $2,715,000 $129,286 $1,584 5.41%
KALAMAZOO-PORTAGE, MI (FHA|USDA|VA) 9 $985,000 $109,444 $1,407 4.67%
JACKSON, MI (FHA|USDA|VA) 6 $880,000 $146,667 $1,564 4.33%
Traverse City, MI (FHA|USDA|VA) 4 $760,000 $190,000 $2,228 5.09%
GRAND RAPIDS-KENTWOOD, MI (FHA|USDA|VA) 1 $345,000 $345,000 $0 3.75%
Hillsdale, MI (FHA|USDA|VA) 1 $325,000 $325,000 $3,181 5.50%
Detroit-Warren-Dearborn, MI (FHA|USDA|VA) 2 $130,000 $65,000 $2,746 5.00%
BAY CITY, MI (FHA|USDA|VA) 1 $105,000 $105,000 $1,923 5.50%
NILES, MI (FHA|USDA|VA) 1 $85,000 $85,000 $466 4.75%
Marshall Community Credit Union's top markets include Battle Creek, Coldwater, Lansing, Kalamazoo, and Jackson among others.

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

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 353 $48,025,000 $136,048 $1,768 4.74%

    For 2022, Marshall Community Credit Union's most frequently originated type of loan was Conventional, with 353 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Refi 139 $20,205,000 $145,360 $1,374 4.02%
    Cash Out Refi 115 $12,015,000 $104,478 $1,437 5.39%
    Home Purchase 99 $15,805,000 $159,646 $2,604 4.98%

    For 2022, Marshall Community Credit Union's most frequently cited loan purpose was Refi, with 139 originations. The 2nd most popular reason was Cash Out Refi, with 115 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 136 $23,370,000 $171,838 $2,155 4.68%
    5 Year 97 $12,745,000 $131,392 $2,211 4.81%
    15 Year 82 $6,060,000 $73,902 $812 4.95%
    20 Year 19 $2,285,000 $120,263 $2,065 4.70%
    Other 10 $2,730,000 $273,000 $690 3.61%
    10 Year 9 $835,000 $92,778 $1,545 4.07%

    For 2022, Marshall Community Credit Union's most frequently cited loan duration was 30 Year, with 136 originations. The 2nd most popular length was 5 Year, with 97 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $1k-2k 252 $35,060,000 $139,127
    $<1k 85 $10,915,000 $128,412

    Marshall Community Credit Union's average total fees were $2,155, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 252 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    4-5% 112 $14,440,000 $128,929
    5-6% 85 $11,105,000 $130,647
    3-4% 76 $11,610,000 $152,763
    2.5-3% 31 $5,975,000 $192,742
    6-7% 29 $3,075,000 $106,034
    7-8% 15 $1,165,000 $77,667
    <2.5% 5 $655,000 $131,000

    During 2022, Marshall Community Credit Union's average interest rate for loans was 4.68%, while their most frequently originated rate bucket for loans was 4-5%, with 112 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 153 $9,305,000 $60,817 $1,384 4.87%
    $100k-200k 141 $19,535,000 $138,546 $2,103 4.76%
    $200k-400k 47 $13,255,000 $282,021 $2,150 4.49%
    $400k-600k 9 $4,095,000 $455,000 $1,525 3.96%
    $600k-1MM 3 $1,835,000 $611,667 $1,012 3.42%

    2022 saw Marshall Community Credit Union place emphasis on $100,000 or less loans with 153 originations, totaling $9,305,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 101 $12,795,000 $126,683 $1,866 4.74%
    $50k or less 86 $8,010,000 $93,140 $2,011 4.63%
    $75k-100k 67 $8,565,000 $127,836 $1,600 4.89%
    $100k-150k 50 $7,730,000 $154,600 $1,499 4.90%
    $150k-250k 31 $5,825,000 $187,903 $1,606 4.43%
    $250k+ 12 $4,210,000 $350,833 $2,856 4.67%

    Marshall Community Credit Union lent most frequently to those with incomes in the $50k-75k range, with 101 originations. The second most popular income band? $50k or less, with 86 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 99 $14,225,000 $143,687 $1,988 4.64%
    30-36% 69 $8,965,000 $129,928 $1,596 4.85%
    <20% 45 $6,595,000 $146,556 $2,142 4.42%
    50-60% 17 $1,895,000 $111,471 $1,599 4.58%
    >60% 13 $2,305,000 $177,308 $1,697 4.40%
    39% 12 $1,850,000 $154,167 $1,761 5.21%
    36% 12 $1,130,000 $94,167 $1,672 5.09%
    40% 12 $1,550,000 $129,167 $1,689 4.88%
    45% 11 $1,445,000 $131,364 $1,546 5.19%
    41% 11 $1,515,000 $137,727 $1,677 4.88%
    37% 10 $1,220,000 $122,000 $2,068 4.84%
    42% 8 $1,060,000 $132,500 $2,121 5.14%
    48% 6 $1,360,000 $226,667 $1,170 4.42%
    43% 5 $345,000 $69,000 $1,697 5.23%
    46% 5 $325,000 $65,000 $1,267 5.05%
    38% 4 $680,000 $170,000 $1,183 3.91%
    44% 4 $620,000 $155,000 $1,575 4.38%
    47% 3 $275,000 $91,667 $439 4.33%
    49% 1 $95,000 $95,000 $0 3.00%

    Marshall Community Credit Union lent most frequently to those with DTI ratios of 20-30%, with 99 originations. The next most common DTI ratio? 30-36%, with 69 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 344 $46,890,000 $136,308 $1,762 4.72%
    Asian 3 $575,000 $191,667 $1,600 5.21%
    Black 3 $195,000 $65,000 $2,150 5.46%
    Native Hawaiian or Islander 1 $155,000 $155,000 $2,316 6.38%
    Not provided 1 $105,000 $105,000 $0 4.75%
    Not applicable 1 $105,000 $105,000 $0 5.50%

    Approval Rates

    Total approvals of all applications
    98.76%

    Marshall Community 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
    87.54%

    Marshall Community Credit Union has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    101.0 1 $155,000 $155,000
    1019.95 1 $105,000 $105,000
    1086.0 3 $355,000 $118,333
    11.0 3 $355,000 $118,333
    1122.6 5 $395,000 $79,000
    1126.9 14 $1,410,000 $100,714
    1132.2 5 $645,000 $129,000
    1136.5 1 $75,000 $75,000
    1140.95 2 $290,000 $145,000
    1147.55 4 $390,000 $97,500
    1147.6 2 $150,000 $75,000
    1151.9 8 $1,080,000 $135,000
    1153.6 1 $185,000 $185,000
    1157.2 7 $835,000 $119,286
    1157.6 3 $395,000 $131,667
    1157.65 2 $470,000 $235,000
    1159.2 1 $135,000 $135,000
    1161.5 4 $630,000 $157,500
    1163.5 1 $25,000 $25,000
    1164.25 3 $495,000 $165,000
    1172.55 10 $1,400,000 $140,000
    1173.1 1 $35,000 $35,000
    1176.9 1 $85,000 $85,000
    1182.2 1 $145,000 $145,000
    1182.6 1 $225,000 $225,000
    1182.65 5 $875,000 $175,000
    1186.0 1 $85,000 $85,000
    1187.4 1 $195,000 $195,000
    1187.6 1 $345,000 $345,000
    1189.25 3 $745,000 $248,333
    1191.5 1 $365,000 $365,000
    1198.1 1 $145,000 $145,000
    1211.0 3 $295,000 $98,333
    1282.2 1 $155,000 $155,000
    1301.9 3 $465,000 $155,000
    1310.2 1 $105,000 $105,000
    1311.5 1 $125,000 $125,000
    1322.55 1 $145,000 $145,000
    1325.16 1 $95,000 $95,000
    1325.55 1 $145,000 $145,000
    1327.03 1 $155,000 $155,000
    1403.41 1 $95,000 $95,000
    141.95 1 $385,000 $385,000
    154.25 1 $365,000 $365,000
    1557.24 1 $75,000 $75,000
    19.95 1 $105,000 $105,000
    271.3 1 $85,000 $85,000
    457.6 1 $105,000 $105,000
    461.2 1 $165,000 $165,000
    486.0 1 $625,000 $625,000
    49.25 1 $305,000 $305,000
    51.9 1 $435,000 $435,000
    676.9 3 $135,000 $45,000
    697.6 1 $35,000 $35,000
    701.9 1 $35,000 $35,000
    751.9 2 $180,000 $90,000
    772.6 1 $115,000 $115,000
    78.25 1 $125,000 $125,000
    789.25 1 $65,000 $65,000
    NA 221 $29,685,000 $134,321

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    353 $48,025,000 $136,048

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 56 $4,060,000 $72,500 $1,140 4.83%
    40-60% 51 $5,405,000 $105,980 $1,801 4.34%
    60-80% 140 $23,960,000 $171,143 $2,128 4.62%
    80-100% 71 $13,055,000 $183,873 $2,352 4.80%
    Under 20% 35 $1,545,000 $44,143 $578 5.49%