Michigan State University Federal Credit Union Mortgage Rates, Fees & Info
East Lansing, MILEI: 54930053SM8COVIPIY54
Tax ID: 38-1373106
Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data
Jump to:
Mortgage Data
Review & Overview
Michigan State University Federal Credit Union is a smaller credit union specializing in Other and Home Purchase loans. Michigan State University Federal Credit Union has a high proportion of conventional loans. Their top markets by origination volume include: Lansing, Detroit, Grand Rapids, Traverse City, and Ann Arbor among others. We have data for 86 markets. (Some data included below & more in-depth data is available with an active subscription.)Michigan State University Federal 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. Michigan State University Federal 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 | 6.25% | 11/17/24 |
| 30 Year Conventional Refi | 6.44% | 11/17/24 |
| 30 Year Cash-out Refi | 6.58% | 11/17/24 |
| 15 Year Conventional Purchase | 5.78% | 11/17/24 |
| 15 Year Conventional Refi | 5.92% | 11/17/24 |
| 15 Year Cash-out Refi | 5.92% | 11/17/24 |
| 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. | ||
Michigan State University Federal Credit Union Mortgage Calculator
Your Estimates
Estimated Loan Payment: Update the calculator values and click calculate payment!
This is not an official calculator from Michigan State University Federal 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
4,360Origination Dollar Volume (All Markets)
$652,230,000Awards
MICHIGAN STATE UNIVERSITY FEDERAL CREDIT UNION - 2022
MICHIGAN STATE UNIVERSITY FEDERAL CREDIT UNION is a 2022 , due to their low .
For 2022, less than of lenders were eligible for this award.
Work for MICHIGAN STATE UNIVERSITY FEDERAL CREDIT UNION?
Use this award on your own site. Either save and use the images below, or pass the provided image embed code to your development team.
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 |
|---|---|---|---|---|---|
| LANSING-EAST LANSING, MI (FHA|USDA|VA) | 2,334 | $304,400,000 | $130,420 | $3,219 | 4.78% |
| Detroit-Warren-Dearborn, MI (FHA|USDA|VA) | 892 | $130,110,000 | $145,863 | $3,587 | 4.92% |
| GRAND RAPIDS-KENTWOOD, MI (FHA|USDA|VA) | 237 | $38,885,000 | $164,072 | $3,334 | 4.78% |
| Traverse City, MI (FHA|USDA|VA) | 146 | $32,910,000 | $225,411 | $3,531 | 4.51% |
| Outside of Metro Areas | 200 | $29,470,000 | $147,350 | $3,348 | 4.72% |
| ANN ARBOR, MI (FHA|USDA|VA) | 65 | $13,665,000 | $210,231 | $3,732 | 4.70% |
| BATTLE CREEK, MI (FHA|USDA|VA) | 37 | $8,715,000 | $235,541 | $3,151 | 4.61% |
| FLINT, MI (FHA|USDA|VA) | 52 | $8,000,000 | $153,846 | $3,375 | 4.72% |
| KALAMAZOO-PORTAGE, MI (FHA|USDA|VA) | 41 | $7,565,000 | $184,512 | $3,300 | 4.82% |
| JACKSON, MI (FHA|USDA|VA) | 54 | $6,650,000 | $123,148 | $3,387 | 4.93% |
| Coldwater, MI (FHA|USDA|VA) | 10 | $5,520,000 | $552,000 | $3,763 | 3.94% |
| Chicago-Naperville-Elgin, IL-IN-WI (FHA|USDA|VA) | 14 | $4,230,000 | $302,143 | $5,367 | 4.06% |
| SAGINAW, MI (FHA|USDA|VA) | 25 | $4,045,000 | $161,800 | $3,308 | 5.24% |
| DENVER-AURORA-LAKEWOOD, CO (FHA|USDA|VA) | 5 | $3,535,000 | $707,000 | $5,691 | 4.48% |
| ATLANTA-SANDY SPRINGS-ALPHARETTA, GA (FHA|USDA|VA) | 9 | $3,395,000 | $377,222 | $4,552 | 4.29% |
| Washington-Arlington-Alexandria, DC-VA-MD-WV (FHA|USDA|VA) | 3 | $3,035,000 | $1,011,667 | $5,362 | 3.96% |
| Holland, MI (FHA|USDA|VA) | 12 | $2,960,000 | $246,667 | $3,925 | 4.88% |
| MUSKEGON, MI (FHA|USDA|VA) | 24 | $2,230,000 | $92,917 | $2,754 | 4.89% |
| Cadillac, MI (FHA|USDA|VA) | 13 | $2,195,000 | $168,846 | $3,158 | 4.61% |
| MIDLAND, MI (FHA|USDA|VA) | 9 | $2,045,000 | $227,222 | $5,208 | 4.69% |
| NILES, MI (FHA|USDA|VA) | 13 | $1,705,000 | $131,154 | $3,028 | 5.13% |
| PHOENIX-MESA-CHANDLER, AZ (FHA|USDA|VA) | 6 | $1,680,000 | $280,000 | $4,167 | 4.29% |
| Seattle-Tacoma-Bellevue, WA (FHA|USDA|VA) | 3 | $1,585,000 | $528,333 | $5,865 | 3.50% |
| Big Rapids, MI (FHA|USDA|VA) | 9 | $1,475,000 | $163,889 | $2,885 | 3.93% |
| ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) | 3 | $1,475,000 | $491,667 | $9,237 | 4.33% |
| Ludington, MI (FHA|USDA|VA) | 4 | $1,450,000 | $362,500 | $4,137 | 4.72% |
| CHARLOTTE-CONCORD-GASTONIA, NC-SC (FHA|USDA|VA) | 3 | $1,405,000 | $468,333 | $4,341 | 4.67% |
| BAY CITY, MI (FHA|USDA|VA) | 10 | $1,330,000 | $133,000 | $3,334 | 5.23% |
| SOUTH BEND-MISHAWAKA, IN-MI (FHA|USDA|VA) | 5 | $1,235,000 | $247,000 | $3,409 | 4.85% |
| Adrian, MI (FHA|USDA|VA) | 11 | $1,205,000 | $109,545 | $3,873 | 4.74% |
| Alma, MI (FHA|USDA|VA) | 12 | $1,150,000 | $95,833 | $3,567 | 4.68% |
| CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) | 3 | $1,125,000 | $375,000 | $6,980 | 4.63% |
| Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) | 4 | $1,080,000 | $270,000 | $4,737 | 5.22% |
| TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) | 4 | $1,060,000 | $265,000 | $4,796 | 4.75% |
| Mount Pleasant, MI (FHA|USDA|VA) | 6 | $1,050,000 | $175,000 | $3,043 | 5.67% |
| COLUMBUS, OH (FHA|USDA|VA) | 3 | $825,000 | $275,000 | $4,950 | 4.67% |
| North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) | 2 | $770,000 | $385,000 | $5,265 | 4.44% |
| WINCHESTER, VA-WV (FHA|USDA|VA) | 2 | $710,000 | $355,000 | $4,243 | 5.63% |
| CINCINNATI, OH-KY-IN (FHA|USDA|VA) | 2 | $710,000 | $355,000 | $4,254 | 4.38% |
| PORTLAND-VANCOUVER-HILLSBORO, OR-WA (FHA|USDA|VA) | 1 | $705,000 | $705,000 | $10,799 | 2.75% |
| FORT COLLINS, CO (FHA|USDA|VA) | 1 | $685,000 | $685,000 | $3,724 | 5.00% |
| PALM BAY-MELBOURNE-TITUSVILLE, FL (FHA|USDA|VA) | 2 | $660,000 | $330,000 | $7,635 | 4.31% |
| Escanaba, MI (FHA|USDA|VA) | 4 | $650,000 | $162,500 | $3,609 | 4.91% |
| Marquette, MI (FHA|USDA|VA) | 3 | $645,000 | $215,000 | $3,738 | 3.58% |
| MONROE, MI (FHA|USDA|VA) | 8 | $640,000 | $80,000 | $3,892 | 4.84% |
| NASHVILLE-DAVIDSON-MURFREESBORO-FRANKLIN, TN (FHA|USDA|VA) | 2 | $600,000 | $300,000 | $3,173 | 6.50% |
| THE VILLAGES, FL (FHA|USDA|VA) | 2 | $570,000 | $285,000 | $6,490 | 2.75% |
| SAVANNAH, GA (FHA|USDA|VA) | 2 | $540,000 | $270,000 | $5,051 | 4.06% |
| Forest City, NC (FHA|USDA|VA) | 1 | $495,000 | $495,000 | $4,717 | 4.38% |
| RALEIGH-CARY, NC (FHA|USDA|VA) | 1 | $455,000 | $455,000 | $9,245 | 3.63% |
| PRESCOTT VALLEY-PRESCOTT, AZ (FHA|USDA|VA) | 1 | $435,000 | $435,000 | $9,412 | 2.75% |
| WINSTON-SALEM, NC (FHA|USDA|VA) | 1 | $415,000 | $415,000 | $7,250 | 2.88% |
| COLORADO SPRINGS, CO (FHA|USDA|VA) | 1 | $415,000 | $415,000 | $3,241 | 3.75% |
| EAU CLAIRE, WI (FHA|USDA|VA) | 1 | $385,000 | $385,000 | $3,789 | 4.13% |
| Iron Mountain, MI-WI (FHA|USDA|VA) | 2 | $370,000 | $185,000 | $0 | 6.50% |
| TOLEDO, OH (FHA|USDA|VA) | 2 | $330,000 | $165,000 | $3,740 | 5.75% |
| HOMOSASSA SPRINGS, FL (FHA|USDA|VA) | 1 | $315,000 | $315,000 | $4,629 | 4.63% |
| Hillsdale, MI (FHA|USDA|VA) | 4 | $310,000 | $77,500 | $3,892 | 6.09% |
| Sturgis, MI (FHA|USDA|VA) | 2 | $310,000 | $155,000 | $2,909 | 4.56% |
| LOUISVILLE, KY (FHA|USDA|VA) | 1 | $305,000 | $305,000 | $3,550 | 5.13% |
| VIRGINIA BEACH-NORFOLK-NEWPORT NEWS, VA-NC (FHA|USDA|VA) | 1 | $295,000 | $295,000 | $5,613 | 6.75% |
| Houghton, MI (FHA|USDA|VA) | 3 | $295,000 | $98,333 | $3,344 | 4.54% |
| CLEVELAND-ELYRIA, OH (FHA|USDA|VA) | 1 | $295,000 | $295,000 | $3,954 | 2.25% |
| PORT ST. LUCIE, FL (FHA|USDA|VA) | 2 | $290,000 | $145,000 | $3,553 | 3.06% |
| ALLENTOWN-BETHLEHEM-EASTON, PA-NJ (FHA|USDA|VA) | 1 | $285,000 | $285,000 | $4,379 | 3.25% |
| TUCSON, AZ (FHA|USDA|VA) | 1 | $275,000 | $275,000 | $3,191 | 4.75% |
| MADISON, WI (FHA|USDA|VA) | 1 | $265,000 | $265,000 | $5,860 | 3.63% |
| Decatur, IN (FHA|USDA|VA) | 1 | $265,000 | $265,000 | $2,977 | 6.13% |
| Warrensburg, MO (FHA|USDA|VA) | 1 | $245,000 | $245,000 | $5,454 | 3.50% |
| MOBILE, AL (FHA|USDA|VA) | 1 | $235,000 | $235,000 | $5,753 | 4.88% |
| GREENSBORO-HIGH POINT, NC (FHA|USDA|VA) | 1 | $235,000 | $235,000 | $4,691 | 2.38% |
| LAFAYETTE-WEST LAFAYETTE, IN (FHA|USDA|VA) | 1 | $225,000 | $225,000 | $2,869 | 3.75% |
| HARRISBURG-CARLISLE, PA (FHA|USDA|VA) | 1 | $225,000 | $225,000 | $6,387 | 2.38% |
| Angola, IN (FHA|USDA|VA) | 1 | $225,000 | $225,000 | $5,076 | 6.13% |
| Marinette, WI-MI (FHA|USDA|VA) | 1 | $225,000 | $225,000 | $3,041 | 5.38% |
| CHAMPAIGN-URBANA, IL (FHA|USDA|VA) | 1 | $195,000 | $195,000 | $5,342 | 3.50% |
| Sault Ste. Marie, MI (FHA|USDA|VA) | 2 | $180,000 | $90,000 | $3,108 | 3.94% |
| Frankfort, IN (FHA|USDA|VA) | 1 | $175,000 | $175,000 | $3,529 | 5.75% |
| INDIANAPOLIS-CARMEL-ANDERSON, IN (FHA|USDA|VA) | 1 | $175,000 | $175,000 | $2,892 | 4.25% |
| PITTSBURGH, PA (FHA|USDA|VA) | 1 | $165,000 | $165,000 | $6,638 | 5.50% |
| AKRON, OH (FHA|USDA|VA) | 1 | $155,000 | $155,000 | $3,011 | 3.25% |
| Alpena, MI (FHA|USDA|VA) | 1 | $115,000 | $115,000 | $2,834 | 3.38% |
| EVANSVILLE, IN-KY (FHA|USDA|VA) | 1 | $115,000 | $115,000 | $2,929 | 5.25% |
| TALLAHASSEE, FL (FHA|USDA|VA) | 1 | $115,000 | $115,000 | $2,904 | 2.50% |
| Sandusky, OH (FHA|USDA|VA) | 1 | $85,000 | $85,000 | $3,666 | 4.13% |
| LAKELAND-WINTER HAVEN, FL (FHA|USDA|VA) | 1 | $55,000 | $55,000 | $3,111 | 4.38% |
Similar Lenders
We use machine learning to identify the top lenders compared against MICHIGAN STATE UNIVERSITY FEDERAL CREDIT UNION based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.
Similarity Rank: 57
Similarity Rank: 77
Similarity Rank: 93
Similarity Rank: 108
Similarity Rank: 119
Similarity Rank: 147
Similarity Rank: 216
Similarity Rank: 230
Similarity Rank: 264
Similarity Rank: 318
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| HELOC | 2,335 | $174,825,000 | $74,872 | n/a | 5.14% |
| Conventional | 2,025 | $477,405,000 | $235,756 | $3,431 | 4.39% |
For 2022, Michigan State University Federal Credit Union's most frequently originated type of loan was HELOC, with 2,335 originations. Their 2nd most popular type was Conventional, with 2,025 originations.
Loan Reason
For 2022, Michigan State University Federal Credit Union's most frequently cited loan purpose was Other, with 2,334 originations. The 2nd most popular reason was Home Purchase, with 1,340 originations.
Loan Duration/Length
For 2022, Michigan State University Federal Credit Union's most frequently cited loan duration was Other, with 2,366 originations. The 2nd most popular length was 30 Year, with 1,317 originations.
Origination Fees/Closing Costs
Michigan State University Federal Credit Union's average total fees were $3,535, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 1,634 originations.
Interest Rates
During 2022, Michigan State University Federal Credit Union's average interest rate for loans was 4.67%, while their most frequently originated rate bucket for loans was 3-4%, with 1,422 originations.
Loan Sizing
2022 saw Michigan State University Federal Credit Union place emphasis on $100,000 or less loans with 2,094 originations, totaling $114,260,000 in origination value.
Applicant Income
Michigan State University Federal Credit Union lent most frequently to those with incomes in the $100k-150k range, with 1,135 originations. The second most popular income band? $75k-100k, with 833 originations.
Applicant Debt to Income Ratio
Michigan State University Federal Credit Union lent most frequently to those with DTI ratios of 20-30%, with 1,276 originations. The next most common DTI ratio? 30-36%, with 826 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications95.60%
Michigan State University Federal 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 origination82.00%
Michigan State University Federal Credit Union has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 4,360 | $652,230,000 | $149,594 |