Marshall Community Credit Union Mortgage Rates, Fees & Info

Marshall, MI

LEI: 5493004R1ELTGT9LUL33

Tax ID: 38-1444840

5 stars - Updated: 11/11/24 - out of 5 stars, based on 17 reviews

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

Jump to:

  • SimulatedRates™
  • Mortgage Calculator

    • Mortgage Data

  • Originations
  • Relative Rates
  • Relative Fees
  • 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

    Marshall Community Credit Union is a smaller credit union specializing in Cash Out Refi, Home Purchase, and Refi loans. Marshall Community Credit Union has a high proportion of conventional loans. Their top markets by origination volume include: Battle Creek, Coldwater, Kalamazoo, Lansing, and Grand Rapids among others. We have data for 15 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 an above 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 relatively high 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 0.62% 11/11/24
    30 Year Conventional Refi 0.58% 11/11/24
    30 Year Cash-out Refi 0.49% 11/11/24
    15 Year Conventional Purchase 0.91% 11/11/24
    15 Year Conventional Refi 1.03% 11/11/24
    15 Year Cash-out Refi 1.03% 11/11/24
    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

    296

    Origination Dollar Volume (All Markets)

    $47,280,000

    Awards

    MARSHALL COMMUNITY CREDIT UNION 30 Year Conventional Loans gold MARSHALL COMMUNITY CREDIT UNION 30 Year Conventional Loans gold MARSHALL COMMUNITY CREDIT UNION 30 Year Conventional Loans silver
    Show all (3) awards

    Relative Rate

    Marshall Community Credit Union's average 30 year fixed mortgage rate was 6.57%.

    The 2023 average 30 year fixed rate mortgage across all markets and lenders was 6.48%.

    This yields a difference of 0.09%.

    Relative Fees (Closing Costs)

    Marshall Community Credit Union's average total fees/closing costs for a 30 year fixed rate mortgage were $2,582.

    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 $9,089.

    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) 214 $31,270,000 $146,121 $1,949 7.33%
    Coldwater, MI (FHA|USDA|VA) 24 $3,530,000 $147,083 $1,827 7.34%
    Outside of Metro Areas 12 $3,440,000 $286,667 $2,259 6.93%
    KALAMAZOO-PORTAGE, MI (FHA|USDA|VA) 14 $3,340,000 $238,571 $2,185 6.60%
    LANSING-EAST LANSING, MI (FHA|USDA|VA) 14 $1,850,000 $132,143 $1,454 7.51%
    GRAND RAPIDS-KENTWOOD, MI (FHA|USDA|VA) 2 $1,170,000 $585,000 $4,051 5.50%
    JACKSON, MI (FHA|USDA|VA) 7 $945,000 $135,000 $1,156 8.02%
    Hillsdale, MI (FHA|USDA|VA) 2 $570,000 $285,000 $176 7.50%
    Adrian, MI (FHA|USDA|VA) 1 $305,000 $305,000 $3,001 6.13%
    MONROE, MI (FHA|USDA|VA) 1 $305,000 $305,000 $3,468 6.50%
    Sault Ste. Marie, MI (FHA|USDA|VA) 1 $195,000 $195,000 $2,909 7.50%
    Mount Pleasant, MI (FHA|USDA|VA) 1 $115,000 $115,000 $2,649 5.50%
    Sturgis, MI (FHA|USDA|VA) 1 $115,000 $115,000 $2,699 5.88%
    SOUTH BEND-MISHAWAKA, IN-MI (FHA|USDA|VA) 1 $85,000 $85,000 $2,434 6.13%
    Holland, MI (FHA|USDA|VA) 1 $45,000 $45,000 $646 9.00%
    Marshall Community Credit Union's top markets include Battle Creek, Coldwater, Kalamazoo, Lansing, and Grand Rapids among others.

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

    • Similar Lenders

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

    MARSHALL COMMUNITY CREDIT UNION
    Similarity Rank: 90
    OAK MORTGAGE, LLC
    Similarity Rank: 242
    FIRST CHOICE MH LLC
    Similarity Rank: 252
    Kellogg Community Credit Union
    Similarity Rank: 294
    SUMMIT HOME MORTGAGE, LLC
    Similarity Rank: 315
    OMNI Community Credit Union
    Similarity Rank: 448
    MORTGAGE CENTER L.C
    Similarity Rank: 520
    Independent Bank
    Similarity Rank: 627
    Honor Credit Union
    Similarity Rank: 640
    CONSUMERS
    Similarity Rank: 1015

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 296 $47,280,000 $159,730 $1,938 7.28%

    For 2023, Marshall Community Credit Union's most frequently originated type of loan was Conventional, with 296 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Cash Out Refi 148 $16,460,000 $111,216 $1,455 7.74%
    Home Purchase 109 $19,805,000 $181,697 $2,885 6.99%
    Refi 39 $11,015,000 $282,436 $945 6.34%

    For 2023, Marshall Community Credit Union's most frequently cited loan purpose was Cash Out Refi, with 148 originations. The 2nd most popular reason was Home Purchase, with 109 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    5 Year 108 $15,180,000 $140,556 $2,351 7.52%
    30 Year 102 $20,670,000 $202,647 $2,582 6.57%
    15 Year 63 $4,195,000 $66,587 $661 8.48%
    Other 18 $6,410,000 $356,111 $337 5.57%
    20 Year 3 $615,000 $205,000 $2,208 7.88%
    10 Year 2 $210,000 $105,000 $1,667 7.00%

    For 2023, Marshall Community Credit Union's most frequently cited loan duration was 5 Year, with 108 originations. The 2nd most popular length was 30 Year, with 102 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $1k-2k 186 $28,620,000 $153,871
    $<1k 98 $15,510,000 $158,265
    $5k+ 2 $810,000 $405,000
    $3k-4k 1 $155,000 $155,000

    Marshall Community Credit Union's average total fees were $2,582, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 186 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    6-7% 99 $17,775,000 $179,545
    7-8% 84 $12,030,000 $143,214
    Over 8% 70 $6,240,000 $89,143
    5-6% 30 $5,230,000 $174,333
    3-4% 7 $3,215,000 $459,286
    4-5% 3 $1,565,000 $521,667
    2.5-3% 2 $580,000 $290,000
    <2.5% 1 $645,000 $645,000

    During 2023, Marshall Community Credit Union's average interest rate for loans was 6.57%, while their most frequently originated rate bucket for loans was 6-7%, with 99 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 120 $7,120,000 $59,333 $1,419 7.88%
    $100k-200k 106 $15,090,000 $142,358 $2,338 7.11%
    $200k-400k 51 $14,395,000 $282,255 $2,318 6.86%
    $400k-600k 11 $5,255,000 $477,727 $2,424 5.65%
    $600k-1MM 8 $5,420,000 $677,500 $1,999 5.39%

    2023 saw Marshall Community Credit Union place emphasis on $100,000 or less loans with 120 originations, totaling $7,120,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k or less 79 $6,485,000 $82,089 $2,012 7.35%
    $50k-75k 63 $7,865,000 $124,841 $1,893 7.38%
    $100k-150k 58 $10,670,000 $183,966 $1,931 7.46%
    $75k-100k 43 $6,145,000 $142,907 $1,786 7.45%
    $150k-250k 27 $6,535,000 $242,037 $2,015 6.74%
    $250k+ 22 $8,570,000 $389,545 $2,020 6.58%

    Marshall Community Credit Union lent most frequently to those with incomes in the $50k or less range, with 79 originations. The second most popular income band? $50k-75k, with 63 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 65 $10,695,000 $164,538 $1,845 7.05%
    30-36% 62 $8,150,000 $131,452 $1,987 7.45%
    <20% 25 $5,245,000 $209,800 $1,789 7.05%
    44% 12 $2,000,000 $166,667 $2,123 7.41%
    40% 12 $2,490,000 $207,500 $2,071 7.18%
    38% 11 $1,535,000 $139,545 $1,897 6.68%
    39% 11 $1,305,000 $118,636 $2,248 7.13%
    46% 11 $1,525,000 $138,636 $1,735 7.99%
    41% 10 $1,560,000 $156,000 $2,605 7.35%
    37% 10 $1,140,000 $114,000 $1,613 7.39%
    42% 9 $915,000 $101,667 $1,895 8.58%
    45% 9 $1,815,000 $201,667 $1,392 7.06%
    48% 8 $1,330,000 $166,250 $2,074 7.44%
    50-60% 8 $1,350,000 $168,750 $1,533 7.19%
    36% 7 $1,185,000 $169,286 $1,714 7.38%
    43% 6 $1,300,000 $216,667 $2,276 7.46%
    47% 5 $835,000 $167,000 $3,979 7.33%
    >60% 5 $1,105,000 $221,000 $1,152 6.93%
    49% 2 $220,000 $110,000 $2,093 6.88%

    Marshall Community Credit Union lent most frequently to those with DTI ratios of 20-30%, with 65 originations. The next most common DTI ratio? 30-36%, with 62 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 279 $44,125,000 $158,154 $1,907 7.27%
    Black 12 $2,030,000 $169,167 $2,108 7.57%
    Asian 4 $870,000 $217,500 $3,429 6.59%
    Not applicable 1 $255,000 $255,000 $0 8.75%

    Approval Rates

    Total approvals of all applications
    99.69%

    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
    92.57%

    Marshall Community Credit Union has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 296 $47,280,000 $159,730

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    296 $47,280,000 $159,730

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 34 $1,900,000 $55,882 $972 8.08%
    40-60% 46 $6,670,000 $145,000 $1,946 7.25%
    60-80% 99 $21,835,000 $220,556 $1,965 6.85%
    80-100% 81 $15,065,000 $185,988 $2,791 7.05%
    Over 100% 2 $330,000 $165,000 $2,826 7.25%
    Under 20% 34 $1,480,000 $43,529 $735 8.32%