Credit Union One Mortgage Rates, Fees & Info

Ferndale, MI

LEI: 5493008NQVB5ZOWYNU83

Tax ID: 38-0536242

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Mortgage Data

Review & Overview

Credit Union One is a small credit union specializing in Refi loans. Credit Union One has a high proportion of conventional loans. Their top markets by origination volume include: Detroit, Traverse City, Grand Rapids, Ann Arbor, and Flint among others. We have data for 34 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.

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
Home Equity Line of Credit (HELOC) 6.08% 3/28/24
30 Year Conventional Purchase 6.81% 3/28/24
30 Year Conventional Refi 6.45% 3/28/24
30 Year Cash-out Refi 6.65% 3/28/24
30 Year FHA Purchase 6.27% 3/28/24
30 Year USDA Purchase 6.81% 3/28/24
15 Year Conventional Purchase 6.13% 3/28/24
15 Year Conventional Refi 6.01% 3/28/24
15 Year Cash-out Refi 6.01% 3/28/24
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






Your Estimates

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

This is not an official calculator from Credit Union One. 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

2,112

Origination Dollar Volume (All Markets)

$1,025,080,000

Awards

CREDIT UNION ONE 30 Year Conventional Loans silver
Show all (1) 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) 1,474 $957,200,000 $649,389 $1,652 2.95%
Traverse City, MI (FHA|USDA|VA) 212 $24,630,000 $116,179 $1,967 2.90%
GRAND RAPIDS-KENTWOOD, MI (FHA|USDA|VA) 144 $12,960,000 $90,000 $1,398 2.98%
Outside of Metro Areas 73 $7,545,000 $103,356 $2,152 3.02%
ANN ARBOR, MI (FHA|USDA|VA) 36 $5,550,000 $154,167 $2,009 2.42%
FLINT, MI (FHA|USDA|VA) 42 $2,890,000 $68,810 $456 3.05%
Mount Pleasant, MI (FHA|USDA|VA) 4 $2,330,000 $582,500 $3,146 3.41%
MONROE, MI (FHA|USDA|VA) 15 $1,855,000 $123,667 $1,967 3.51%
LANSING-EAST LANSING, MI (FHA|USDA|VA) 18 $1,640,000 $91,111 $2,345 2.81%
Cadillac, MI (FHA|USDA|VA) 11 $1,225,000 $111,364 $2,170 3.05%
MUSKEGON, MI (FHA|USDA|VA) 13 $1,015,000 $78,077 $2,060 3.05%
MIDLAND, MI (FHA|USDA|VA) 10 $840,000 $84,000 $0 2.34%
BAY CITY, MI (FHA|USDA|VA) 9 $825,000 $91,667 $0 2.92%
Ludington, MI (FHA|USDA|VA) 5 $685,000 $137,000 $1,388 3.07%
Holland, MI (FHA|USDA|VA) 8 $620,000 $77,500 $2,429 2.76%
PORT ST. LUCIE, FL (FHA|USDA|VA) 2 $540,000 $270,000 $5,113 2.63%
JACKSON, MI (FHA|USDA|VA) 3 $475,000 $158,333 $1,524 3.37%
Big Rapids, MI (FHA|USDA|VA) 5 $315,000 $63,000 $1,133 3.32%
SAGINAW, MI (FHA|USDA|VA) 6 $230,000 $38,333 $1,383 3.43%
KALAMAZOO-PORTAGE, MI (FHA|USDA|VA) 1 $185,000 $185,000 $3,828 3.13%
Adrian, MI (FHA|USDA|VA) 5 $185,000 $37,000 $0 2.44%
Marquette, MI (FHA|USDA|VA) 3 $185,000 $61,667 $2,708 3.08%
DURHAM-CHAPEL HILL, NC (FHA|USDA|VA) 1 $155,000 $155,000 $3,338 3.13%
Hillsdale, MI (FHA|USDA|VA) 2 $150,000 $75,000 $0 2.50%
FLORENCE, SC (FHA|USDA|VA) 1 $135,000 $135,000 $3,429 2.88%
KINGSPORT-BRISTOL, TN-VA (FHA|USDA|VA) 1 $115,000 $115,000 $2,791 2.88%
Chicago-Naperville-Elgin, IL-IN-WI (FHA|USDA|VA) 1 $115,000 $115,000 $3,148 3.50%
NILES, MI (FHA|USDA|VA) 1 $115,000 $115,000 $2,968 3.25%
Sault Ste. Marie, MI (FHA|USDA|VA) 1 $105,000 $105,000 $0 1.99%
NASHVILLE-DAVIDSON-MURFREESBORO-FRANKLIN, TN (FHA|USDA|VA) 1 $85,000 $85,000 $3,621 3.38%
DELTONA-DAYTONA BEACH-ORMOND BEACH, FL (FHA|USDA|VA) 1 $65,000 $65,000 $2,789 3.25%
BATTLE CREEK, MI (FHA|USDA|VA) 1 $45,000 $45,000 $0 4.25%
SOUTH BEND-MISHAWAKA, IN-MI (FHA|USDA|VA) 1 $35,000 $35,000 $0 1.99%
CLEVELAND-ELYRIA, OH (FHA|USDA|VA) 1 $35,000 $35,000 $0 5.25%
Credit Union One's top markets include Detroit, Traverse City, Grand Rapids, Ann Arbor, and Flint among others.

Their top states include:
  • Michigan (FHA|USDA|VA)
  • Florida (FHA|USDA|VA)
  • Tennessee (FHA|USDA|VA)
  • North Carolina (FHA|USDA|VA)
  • South Carolina (FHA|USDA|VA)
  • Similar Lenders

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

    St James Mortgage Corporation
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    PREFERRED CREDIT UNION
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    West Michigan Credit Union
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    Isabella Bank
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    Macatawa Bank
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    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 1,099 $945,105,000 $859,968 $1,709 3.44%
    HELOC 1,013 $79,975,000 $78,949 n/a 2.41%

    For 2021, Credit Union One's most frequently originated type of loan was Conventional, with 1,099 originations. Their 2nd most popular type was HELOC, with 1,013 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Improvement 686 $41,050,000 $59,840 $34 2.82%
    Refi 515 $883,585,000 $1,715,699 $2,559 3.02%
    Cash Out Refi 365 $35,735,000 $97,904 $131 2.95%
    Other 326 $24,350,000 $74,693 $48 2.99%
    Home Purchase 220 $40,360,000 $183,455 $3,140 3.10%

    For 2021, Credit Union One's most frequently cited loan purpose was Home Improvement, with 686 originations. The 2nd most popular reason was Refi, with 515 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 1,079 $83,565,000 $77,447 $67 2.48%
    15 Year 334 $38,110,000 $114,102 $1,683 3.35%
    30 Year 293 $53,225,000 $181,655 $3,338 3.29%
    20 Year 150 $22,670,000 $151,133 $1,570 3.45%
    10 Year 147 $823,625,000 $5,602,891 $571 3.82%
    5 Year 109 $3,885,000 $35,642 $37 3.55%

    For 2021, Credit Union One's most frequently cited loan duration was Other, with 1,079 originations. The 2nd most popular length was 15 Year, with 334 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $1k-2k 509 $80,495,000 $158,143
    $<1k 507 $35,485,000 $69,990
    $2k-3k 42 $8,480,000 $201,905
    $3k-4k 13 $3,185,000 $245,000
    $4k-5k 5 $1,025,000 $205,000
    $5k+ 3 $965,000 $321,667

    Credit Union One's average total fees were $3,338, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 509 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    <2.5% 906 $76,610,000 $84,558
    3-4% 641 $81,465,000 $127,090
    2.5-3% 292 $39,860,000 $136,507
    4-5% 208 $824,000,000 $3,961,538
    5-6% 65 $3,145,000 $48,385

    During 2021, Credit Union One's average interest rate for loans was 3.29%, while their most frequently originated rate bucket for loans was <2.5%, with 906 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 1,288 $64,980,000 $50,450 $732 2.97%
    $100k-200k 563 $76,965,000 $136,705 $2,467 2.91%
    $200k-400k 239 $59,255,000 $247,929 $3,034 2.86%
    $400k-600k 15 $6,735,000 $449,000 $4,091 3.14%
    $1MM+ 4 $815,020,000 $203,755,000 $6,775 3.75%
    $600k-1MM 3 $2,125,000 $708,333 $4,717 3.00%

    2021 saw Credit Union One place emphasis on $100,000 or less loans with 1,288 originations, totaling $64,980,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 497 $51,035,000 $102,686 $1,568 2.90%
    $50k-75k 474 $41,420,000 $87,384 $1,702 2.98%
    $75k-100k 375 $37,205,000 $99,213 $1,744 2.99%
    $50k or less 356 $26,470,000 $74,354 $1,707 3.00%
    $150k-250k 321 $40,525,000 $126,246 $1,849 2.91%
    $250k+ 86 $14,490,000 $168,488 $1,988 2.70%

    Credit Union One lent most frequently to those with incomes in the $100k-150k range, with 497 originations. The second most popular income band? $50k-75k, with 474 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 607 $58,655,000 $96,631 $1,702 2.90%
    30-36% 412 $39,270,000 $95,316 $1,585 3.07%
    <20% 261 $24,835,000 $95,153 $1,437 2.85%
    42% 77 $7,505,000 $97,468 $2,081 2.96%
    40% 77 $7,525,000 $97,727 $2,093 3.00%
    36% 73 $7,085,000 $97,055 $1,690 3.07%
    41% 72 $7,940,000 $110,278 $1,782 3.15%
    38% 69 $6,955,000 $100,797 $1,595 2.93%
    50-60% 65 $7,405,000 $113,923 $1,316 2.80%
    43% 63 $6,945,000 $110,238 $1,939 2.99%
    39% 62 $6,240,000 $100,645 $1,635 3.08%
    37% 55 $5,925,000 $107,727 $1,800 2.98%
    44% 47 $3,965,000 $84,362 $1,732 2.93%
    45% 36 $3,750,000 $104,167 $2,434 2.82%
    46% 31 $4,005,000 $129,194 $1,841 3.07%
    >60% 29 $4,655,000 $160,517 $2,463 2.28%
    49% 28 $3,750,000 $133,929 $2,219 2.75%
    47% 24 $2,600,000 $108,333 $2,341 2.82%
    48% 21 $2,135,000 $101,667 $2,086 2.79%

    Credit Union One lent most frequently to those with DTI ratios of 20-30%, with 607 originations. The next most common DTI ratio? 30-36%, with 412 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    Not applicable 2 $533,930,000 $266,965,000 $0 3.75%
    White 1,674 $445,580,000 $266,177 $1,658 2.93%
    Not provided 202 $20,420,000 $101,089 $1,822 2.96%
    Black 162 $16,730,000 $103,272 $1,967 3.06%
    Asian 56 $7,140,000 $127,500 $1,966 2.94%
    American Indian 12 $730,000 $60,833 $902 3.09%
    Native Hawaiian or Islander 2 $330,000 $165,000 $2,932 2.69%
    Other Asian 1 $155,000 $155,000 $4,723 2.63%
    Korean 1 $65,000 $65,000 $0 3.00%

    Approval Rates

    Total approvals of all applications
    84.94%

    Credit Union One has a below average approval rate.

    Pick Rate

    Approvals leading to origination
    73.39%

    Credit Union One has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 2,112 $1,025,080,000 $485,360

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    2,112 $1,025,080,000 $485,360

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 518 $43,910,000 $84,768 $814 2.83%
    40-60% 333 $42,655,000 $128,093 $1,915 2.87%
    60-80% 354 $61,310,000 $173,192 $2,616 3.02%
    80-100% 172 $32,180,000 $187,093 $2,943 3.29%
    Under 20% 732 $31,090,000 $42,473 $78 2.94%

    Complaints

    Bank Name Product Issue 2021 CPFB Complaints % of Total Issues
    Credit One LLC Conventional home mortgage Applying for a mortgage or refinancing an existing mortgage 1 100.0%