Credit Union One Mortgage Rates, Fees & Info
Ferndale, MILEI: 5493008NQVB5ZOWYNU83
Tax ID: 38-0536242
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Mortgage Data
Review & Overview
Credit Union One is a smaller credit union specializing in Refi and Cash Out Refi loans. Credit Union One has a high proportion of conventional loans. Their top markets by origination volume include: Detroit, Traverse City, Ann Arbor, Grand Rapids, and Midland among others. We have data for 39 markets. (Some data included below & more in-depth data is available with an active subscription.)Credit Union One has an average approval rate when compared to the average across all lenders. They have a below average pick rate when compared to similar lenders. Credit Union One 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.
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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| Home Equity Line of Credit (HELOC) | 6.08% | 11/21/24 |
| 30 Year Conventional Purchase | 6.81% | 11/21/24 |
| 30 Year Conventional Refi | 6.45% | 11/21/24 |
| 30 Year Cash-out Refi | 6.65% | 11/21/24 |
| 30 Year FHA Purchase | 6.27% | 11/21/24 |
| 30 Year USDA Purchase | 6.81% | 11/21/24 |
| 15 Year Conventional Purchase | 6.13% | 11/21/24 |
| 15 Year Conventional Refi | 6.01% | 11/21/24 |
| 15 Year Cash-out Refi | 6.01% | 11/21/24 |
| 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. | ||
Credit Union One Mortgage Calculator
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
1,972Origination Dollar Volume (All Markets)
$316,050,000Top 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) | 1,263 | $204,235,000 | $161,706 | $2,867 | 3.25% |
| Traverse City, MI (FHA|USDA|VA) | 149 | $22,615,000 | $151,779 | $2,465 | 3.33% |
| ANN ARBOR, MI (FHA|USDA|VA) | 92 | $21,240,000 | $230,870 | $3,208 | 3.07% |
| GRAND RAPIDS-KENTWOOD, MI (FHA|USDA|VA) | 134 | $16,720,000 | $124,776 | $2,228 | 3.25% |
| Outside of Metro Areas | 88 | $14,600,000 | $165,909 | $2,894 | 3.25% |
| MIDLAND, MI (FHA|USDA|VA) | 33 | $5,305,000 | $160,758 | $3,096 | 2.99% |
| FLINT, MI (FHA|USDA|VA) | 27 | $3,795,000 | $140,556 | $2,696 | 3.43% |
| SAGINAW, MI (FHA|USDA|VA) | 25 | $3,735,000 | $149,400 | $2,854 | 3.17% |
| LANSING-EAST LANSING, MI (FHA|USDA|VA) | 26 | $3,450,000 | $132,692 | $2,722 | 3.23% |
| JACKSON, MI (FHA|USDA|VA) | 20 | $3,260,000 | $163,000 | $3,149 | 3.01% |
| BAY CITY, MI (FHA|USDA|VA) | 20 | $2,630,000 | $131,500 | $2,231 | 3.21% |
| TOLEDO, OH (FHA|USDA|VA) | 12 | $2,190,000 | $182,500 | $3,391 | 3.24% |
| Cadillac, MI (FHA|USDA|VA) | 10 | $1,410,000 | $141,000 | $3,627 | 3.46% |
| MONROE, MI (FHA|USDA|VA) | 10 | $1,390,000 | $139,000 | $2,840 | 3.06% |
| MUSKEGON, MI (FHA|USDA|VA) | 7 | $1,335,000 | $190,714 | $3,006 | 2.95% |
| Adrian, MI (FHA|USDA|VA) | 10 | $1,300,000 | $130,000 | $2,988 | 2.98% |
| COLUMBUS, OH (FHA|USDA|VA) | 2 | $790,000 | $395,000 | $3,983 | 2.69% |
| Marquette, MI (FHA|USDA|VA) | 7 | $775,000 | $110,714 | $1,821 | 3.63% |
| Ludington, MI (FHA|USDA|VA) | 4 | $770,000 | $192,500 | $1,702 | 3.63% |
| Mount Pleasant, MI (FHA|USDA|VA) | 5 | $685,000 | $137,000 | $2,852 | 2.88% |
| BATTLE CREEK, MI (FHA|USDA|VA) | 2 | $450,000 | $225,000 | $3,390 | 3.00% |
| CLEVELAND-ELYRIA, OH (FHA|USDA|VA) | 4 | $440,000 | $110,000 | $3,598 | 3.59% |
| Hillsdale, MI (FHA|USDA|VA) | 2 | $320,000 | $160,000 | $4,628 | 2.50% |
| ALBUQUERQUE, NM (FHA|USDA|VA) | 1 | $305,000 | $305,000 | $4,008 | 2.63% |
| FORT COLLINS, CO (FHA|USDA|VA) | 1 | $295,000 | $295,000 | $6,390 | 2.25% |
| SOUTH BEND-MISHAWAKA, IN-MI (FHA|USDA|VA) | 1 | $255,000 | $255,000 | $3,324 | 2.63% |
| Escanaba, MI (FHA|USDA|VA) | 2 | $230,000 | $115,000 | $2,975 | 3.06% |
| Big Rapids, MI (FHA|USDA|VA) | 2 | $200,000 | $100,000 | $4,414 | 3.06% |
| North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) | 1 | $195,000 | $195,000 | $3,191 | 2.75% |
| Alma, MI (FHA|USDA|VA) | 1 | $195,000 | $195,000 | $3,219 | 2.75% |
| Iron Mountain, MI-WI (FHA|USDA|VA) | 2 | $160,000 | $80,000 | $2,469 | 3.75% |
| NILES, MI (FHA|USDA|VA) | 1 | $155,000 | $155,000 | $3,175 | 2.63% |
| INDIANAPOLIS-CARMEL-ANDERSON, IN (FHA|USDA|VA) | 1 | $125,000 | $125,000 | $1,720 | 3.50% |
| PUNTA GORDA, FL (FHA|USDA|VA) | 1 | $115,000 | $115,000 | $4,839 | 3.38% |
| Sault Ste. Marie, MI (FHA|USDA|VA) | 1 | $105,000 | $105,000 | $4,648 | 3.00% |
| North Vernon, IN (FHA|USDA|VA) | 1 | $95,000 | $95,000 | $3,061 | 3.00% |
| Holland, MI (FHA|USDA|VA) | 2 | $80,000 | $40,000 | $1,373 | 3.81% |
| KNOXVILLE, TN (FHA|USDA|VA) | 1 | $65,000 | $65,000 | $3,374 | 4.50% |
| KALAMAZOO-PORTAGE, MI (FHA|USDA|VA) | 1 | $35,000 | $35,000 | $0 | 2.63% |
Similar Lenders
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Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 1,670 | $293,310,000 | $175,635 | $2,817 | 3.21% |
| HELOC | 301 | $22,565,000 | $74,967 | n/a | 3.41% |
| VA | 1 | $175,000 | $175,000 | $4,266 | 3.00% |
For 2020, Credit Union One's most frequently originated type of loan was Conventional, with 1,670 originations. Their 2nd most popular type was HELOC, with 301 originations.
Loan Reason
For 2020, Credit Union One's most frequently cited loan purpose was Refi, with 891 originations. The 2nd most popular reason was Cash Out Refi, with 496 originations.
Loan Duration/Length
For 2020, Credit Union One's most frequently cited loan duration was 15 Year, with 577 originations. The 2nd most popular length was 30 Year, with 561 originations.
Origination Fees/Closing Costs
Credit Union One's average total fees were $3,745, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 666 originations.
Interest Rates
During 2020, Credit Union One's average interest rate for loans was 3.21%, while their most frequently originated rate bucket for loans was 3-4%, with 969 originations.
Loan Sizing
2020 saw Credit Union One place emphasis on $100k-200k loans with 762 originations, totaling $112,240,000 in origination value.
Applicant Income
Credit Union One lent most frequently to those with incomes in the $100k-150k range, with 511 originations. The second most popular income band? $75k-100k, with 394 originations.
Applicant Debt to Income Ratio
Credit Union One lent most frequently to those with DTI ratios of 20-30%, with 668 originations. The next most common DTI ratio? 30-36%, with 367 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications87.24%
Credit Union One has an average approval rate.
Pick Rate
Approvals leading to origination62.63%
Credit Union One has a low pick rate. They may have issues with closing loans or may approve everyone, but with onerous loan terms.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| 0.0 | 1 | $205,000 | $205,000 |
| NA | 1,971 | $315,845,000 | $160,246 |
Occupancy Type Mix
LTV Distribution
Complaints
| Bank Name | Product | Issue | 2020 CPFB Complaints | % of Total Issues |
|---|---|---|---|---|
| Credit Plus Inc | Conventional home mortgage | Improper use of your report | 1 | 50.0% |
| Credit Plus Inc | FHA mortgage | Applying for a mortgage or refinancing an existing mortgage | 1 | 50.0% |