Team One Credit Union Mortgage Rates, Fees & Info

SAGINAW, MI

LEI: 549300BYPXU2L51NW896

Tax ID: 38-6066199

Latest/2024 | 2023 Data | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data

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Mortgage Data

  • Originations
  • 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

    Team One Credit Union is a smaller credit union specializing in Home Purchase loans. Team One Credit Union has a high proportion of conventional loans. They have a low ratio of USDA loans. Their top markets by origination volume include: Saginaw, Detroit, Flint, Traverse City, and Bay City among others. We have data for 13 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Team One 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. Team One 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.

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    Originations

    259

    Origination Dollar Volume (All Markets)

    $26,945,000

    Awards

    TEAM ONE CREDIT UNION 30 Year Conventional Loans bronze
    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
    Outside of Metro Areas 128 $10,960,000 $85,625 $844 6.98%
    SAGINAW, MI (FHA|USDA|VA) 35 $3,925,000 $112,143 $887 6.82%
    Detroit-Warren-Dearborn, MI (FHA|USDA|VA) 23 $3,125,000 $135,870 $1,370 7.16%
    FLINT, MI (FHA|USDA|VA) 22 $2,170,000 $98,636 $1,326 7.41%
    Traverse City, MI (FHA|USDA|VA) 12 $1,930,000 $160,833 $1,095 6.98%
    BAY CITY, MI (FHA|USDA|VA) 15 $1,605,000 $107,000 $687 7.08%
    LANSING-EAST LANSING, MI (FHA|USDA|VA) 13 $1,195,000 $91,923 $671 6.82%
    GRAND RAPIDS-KENTWOOD, MI (FHA|USDA|VA) 5 $755,000 $151,000 $1,835 7.55%
    Cadillac, MI (FHA|USDA|VA) 2 $550,000 $275,000 $4,319 7.31%
    Holland, MI (FHA|USDA|VA) 1 $305,000 $305,000 $3,921 6.75%
    MIDLAND, MI (FHA|USDA|VA) 1 $225,000 $225,000 $0 7.75%
    Houghton, MI (FHA|USDA|VA) 1 $115,000 $115,000 $0 6.25%
    Alma, MI (FHA|USDA|VA) 1 $85,000 $85,000 $0 6.49%
    Team One Credit Union's top markets include Saginaw, Detroit, Flint, Traverse City, and Bay City among others.

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

    • Similar Lenders

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

    Michigan Legacy Credit Union
    Similarity Rank: 15
    Polish-American Federal Credit Union
    Similarity Rank: 45
    FinancialEdge Community Credit Union
    Similarity Rank: 64
    HEALTH ADVANTAGE FEDERAL CREDIT UNION
    Similarity Rank: 66
    SUNRISE FAMILY CREDIT UNION
    Similarity Rank: 68
    Total Community Credit Union
    Similarity Rank: 94
    St James Mortgage Corporation
    Similarity Rank: 104
    Wildfire Credit Union
    Similarity Rank: 104
    Isabella Bank
    Similarity Rank: 120
    1st State Financial, Ltd.
    Similarity Rank: 136

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 257 $26,595,000 $103,482 $950 7.02%
    USDA 2 $350,000 $175,000 $4,728 7.06%

    For 2023, Team One Credit Union's most frequently originated type of loan was Conventional, with 257 originations. Their 2nd most popular type was USDA, with 2 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 114 $19,280,000 $169,123 $1,488 6.73%
    Home Improvement 75 $3,515,000 $46,867 $566 7.43%
    Other 46 $2,170,000 $47,174 $559 7.24%
    Cash Out Refi 19 $1,695,000 $89,211 $582 6.71%
    Refi 5 $285,000 $57,000 $968 6.70%

    For 2023, Team One Credit Union's most frequently cited loan purpose was Home Purchase, with 114 originations. The 2nd most popular reason was Home Improvement, with 75 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 121 $19,635,000 $162,273 $1,454 6.71%
    15 Year 80 $4,910,000 $61,375 $553 7.55%
    10 Year 44 $1,860,000 $42,273 $591 7.02%
    5 Year 13 $435,000 $33,462 $581 6.61%
    20 Year 1 $105,000 $105,000 $0 6.50%

    For 2023, Team One Credit Union's most frequently cited loan duration was 30 Year, with 121 originations. The 2nd most popular length was 15 Year, with 80 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 243 $22,955,000 $94,465
    $1k-2k 9 $2,845,000 $316,111
    $3k-4k 5 $795,000 $159,000
    $2k-3k 2 $350,000 $175,000

    Team One Credit Union's average total fees were $1,454, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 243 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    6-7% 111 $14,055,000 $126,622
    7-8% 76 $8,450,000 $111,184
    5-6% 40 $2,820,000 $70,500
    Over 8% 31 $1,595,000 $51,452
    4-5% 1 $25,000 $25,000

    During 2023, Team One Credit Union's average interest rate for loans was 6.71%, while their most frequently originated rate bucket for loans was 6-7%, with 111 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 164 $8,460,000 $51,585 $675 7.12%
    $100k-200k 60 $8,400,000 $140,000 $1,358 6.76%
    $200k-400k 31 $8,225,000 $265,323 $1,824 6.96%
    $400k-600k 4 $1,860,000 $465,000 $1,220 7.47%

    2023 saw Team One Credit Union place emphasis on $100,000 or less loans with 164 originations, totaling $8,460,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $75k-100k 69 $7,335,000 $106,304 $1,067 6.96%
    $50k or less 64 $3,650,000 $57,031 $684 7.14%
    $50k-75k 55 $4,805,000 $87,364 $919 7.08%
    $100k-150k 47 $7,125,000 $151,596 $1,246 6.90%
    $150k-250k 19 $2,855,000 $150,263 $1,245 7.03%
    $250k+ 5 $1,175,000 $235,000 $708 6.72%

    Team One Credit Union lent most frequently to those with incomes in the $75k-100k range, with 69 originations. The second most popular income band? $50k or less, with 64 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 75 $6,635,000 $88,467 $742 6.85%
    30-36% 63 $7,815,000 $124,048 $1,064 7.01%
    <20% 29 $2,235,000 $77,069 $995 7.03%
    36% 17 $1,565,000 $92,059 $1,430 6.98%
    37% 13 $1,135,000 $87,308 $1,473 7.59%
    41% 10 $1,350,000 $135,000 $1,491 7.58%
    39% 8 $900,000 $112,500 $249 6.73%
    38% 8 $620,000 $77,500 $732 7.40%
    40% 7 $1,055,000 $150,714 $732 7.19%
    42% 7 $725,000 $103,571 $464 6.62%
    44% 6 $1,250,000 $208,333 $1,387 6.85%
    43% 5 $275,000 $55,000 $1,819 7.29%
    45% 3 $545,000 $181,667 $175 7.50%
    46% 3 $285,000 $95,000 $2,394 6.62%
    49% 2 $390,000 $195,000 $462 7.50%
    >60% 2 $130,000 $65,000 $513 6.62%
    48% 1 $35,000 $35,000 $502 7.99%

    Team One Credit Union lent most frequently to those with DTI ratios of 20-30%, with 75 originations. The next most common DTI ratio? 30-36%, with 63 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 204 $20,780,000 $101,863 $963 7.03%
    Not provided 43 $5,405,000 $125,698 $1,032 6.94%
    Black 12 $760,000 $63,333 $1,073 7.11%

    Approval Rates

    Total approvals of all applications
    90.61%

    Team One Credit Union has an average approval rate.

    Pick Rate

    Approvals leading to origination
    87.26%

    Team One Credit Union has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 259 $26,945,000 $104,035

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    259 $26,945,000 $104,035

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 63 $3,365,000 $53,413 $660 7.23%
    40-60% 21 $1,895,000 $90,238 $716 6.62%
    60-80% 44 $6,450,000 $146,591 $1,336 7.10%
    80-100% 75 $13,135,000 $175,133 $1,486 6.68%
    Under 20% 55 $1,995,000 $36,273 $487 7.34%