Glass City Federal Credit Union Mortgage Rates, Fees & Info
Maumee, OHLEI: 549300BYZ5JSI6TQMS54
Tax ID: 34-4427757
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Mortgage Data
Review & Overview
Glass City Federal Credit Union is a smaller credit union specializing in Home Purchase and Refi loans. Glass City Federal Credit Union has a high proportion of conventional loans. Their top markets by origination volume include: Toledo, Monroe, North Port, Adrian, and Jackson among others. We have data for 8 markets. (Some data included below & more in-depth data is available with an active subscription.)Glass City 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. 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 |
|---|---|---|
| 30 Year Conventional Purchase | 6.88% | 5/5/24 |
| 30 Year Conventional Refi | 6.27% | 5/5/24 |
| 30 Year Cash-out Refi | 6.64% | 5/5/24 |
| 15 Year Conventional Purchase | 6.26% | 5/5/24 |
| 15 Year Conventional Refi | 6.45% | 5/5/24 |
| 15 Year Cash-out Refi | 6.45% | 5/5/24 |
| 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. | ||
Glass City Federal Credit Union Mortgage Calculator
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
97Origination Dollar Volume (All Markets)
$12,535,000Top 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 |
|---|---|---|---|---|---|
| TOLEDO, OH (FHA|USDA|VA) | 85 | $10,275,000 | $120,882 | $275 | 4.09% |
| MONROE, MI (FHA|USDA|VA) | 5 | $725,000 | $145,000 | $0 | 3.70% |
| North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) | 1 | $565,000 | $565,000 | $0 | 4.38% |
| Adrian, MI (FHA|USDA|VA) | 2 | $400,000 | $200,000 | $0 | 3.25% |
| JACKSON, MI (FHA|USDA|VA) | 1 | $215,000 | $215,000 | $0 | 4.75% |
| Findlay, OH (FHA|USDA|VA) | 1 | $165,000 | $165,000 | $0 | 2.00% |
| Hillsdale, MI (FHA|USDA|VA) | 1 | $115,000 | $115,000 | $0 | 3.00% |
| Outside of Metro Areas | 1 | $75,000 | $75,000 | $0 | 4.13% |
Similar Lenders
We use machine learning to identify the top lenders compared against GLASS CITY Federal Credit Union based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.
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Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 97 | $12,535,000 | $129,227 | $275 | 4.03% |
For 2019, Glass City Federal Credit Union's most frequently originated type of loan was Conventional, with 97 originations.
Loan Reason
| Loan Reason | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Home Purchase | 56 | $7,630,000 | $136,250 | $0 | 4.13% |
| Refi | 41 | $4,905,000 | $119,634 | $275 | 3.89% |
For 2019, Glass City Federal Credit Union's most frequently cited loan purpose was Home Purchase, with 56 originations. The 2nd most popular reason was Refi, with 41 originations.
Loan Duration/Length
For 2019, Glass City Federal Credit Union's most frequently cited loan duration was 30 Year, with 54 originations. The 2nd most popular length was 15 Year, with 34 originations.
Origination Fees/Closing Costs
| Origination Fee/Closing Cost | Originations | Total Value | Average Loan |
|---|---|---|---|
| $<1k | 83 | $11,165,000 | $134,518 |
Glass City Federal Credit Union's average total fees were $0, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 83 originations.
Interest Rates
During 2019, Glass City Federal Credit Union's average interest rate for loans was 4.17%, while their most frequently originated rate bucket for loans was 3-4%, with 49 originations.
Loan Sizing
2019 saw Glass City Federal Credit Union place emphasis on $100k-200k loans with 42 originations, totaling $5,980,000 in origination value.
Applicant Income
Glass City Federal Credit Union lent most frequently to those with incomes in the $50k or less range, with 28 originations. The second most popular income band? $50k-75k, with 25 originations.
Applicant Debt to Income Ratio
Glass City Federal Credit Union lent most frequently to those with DTI ratios of 20-30%, with 29 originations. The next most common DTI ratio? <20%, with 22 originations.
Ethnicity Mix
| Applicant Ethnicity | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| White | 96 | $12,300,000 | $128,125 | $275 | 4.03% |
| Black | 1 | $235,000 | $235,000 | $0 | 3.88% |
Approval Rates
Total approvals of all applications91.09%
Glass City Federal Credit Union has an average approval rate.
Pick Rate
Approvals leading to origination81.44%
Glass City Federal Credit Union has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| 1002.87 | 1 | $55,000 | $55,000 |
| 1011.26 | 1 | $165,000 | $165,000 |
| 1015.33 | 1 | $175,000 | $175,000 |
| 1032.97 | 1 | $105,000 | $105,000 |
| 1033.6 | 1 | $115,000 | $115,000 |
| 1034.41 | 1 | $95,000 | $95,000 |
| 1050.14 | 1 | $105,000 | $105,000 |
| 1065.71 | 1 | $145,000 | $145,000 |
| 1069.49 | 1 | $145,000 | $145,000 |
| 1091.14 | 1 | $115,000 | $115,000 |
| 1103.53 | 1 | $135,000 | $135,000 |
| 110.66 | 1 | $45,000 | $45,000 |
| 1125.5 | 1 | $135,000 | $135,000 |
| 1130.27 | 1 | $235,000 | $235,000 |
| 1138.45 | 1 | $185,000 | $185,000 |
| 1151.33 | 1 | $45,000 | $45,000 |
| 1154.57 | 1 | $145,000 | $145,000 |
| 1161.89 | 1 | $145,000 | $145,000 |
| 1164.44 | 1 | $235,000 | $235,000 |
| 1165.38 | 1 | $115,000 | $115,000 |
| 1196.57 | 1 | $225,000 | $225,000 |
| 1197.22 | 1 | $155,000 | $155,000 |
| 1258.01 | 1 | $185,000 | $185,000 |
| 1268.85 | 1 | $185,000 | $185,000 |
| 1281.62 | 1 | $185,000 | $185,000 |
| 1339.53 | 1 | $275,000 | $275,000 |
| 14.0 | 2 | $40,000 | $20,000 |
| 1502.66 | 1 | $235,000 | $235,000 |
| 1612.47 | 1 | $295,000 | $295,000 |
| 196.28 | 1 | $15,000 | $15,000 |
| 213.33 | 1 | $145,000 | $145,000 |
| 2205.04 | 1 | $565,000 | $565,000 |
| 26.39 | 1 | $15,000 | $15,000 |
| 281.85 | 1 | $145,000 | $145,000 |
| 302.97 | 1 | $165,000 | $165,000 |
| 401.9 | 1 | $175,000 | $175,000 |
| 405.85 | 1 | $215,000 | $215,000 |
| 435.03 | 1 | $165,000 | $165,000 |
| 522.62 | 1 | $85,000 | $85,000 |
| 567.25 | 1 | $295,000 | $295,000 |
| 587.97 | 1 | $55,000 | $55,000 |
| 599.96 | 1 | $125,000 | $125,000 |
| 648.63 | 1 | $115,000 | $115,000 |
| 649.27 | 1 | $105,000 | $105,000 |
| 666.05 | 1 | $65,000 | $65,000 |
| 718.16 | 1 | $85,000 | $85,000 |
| 719.17 | 1 | $45,000 | $45,000 |
| 720.64 | 1 | $75,000 | $75,000 |
| 729.77 | 1 | $25,000 | $25,000 |
| 732.63 | 1 | $35,000 | $35,000 |
| 735.56 | 1 | $105,000 | $105,000 |
| 737.45 | 1 | $35,000 | $35,000 |
| 746.24 | 1 | $125,000 | $125,000 |
| 749.62 | 1 | $105,000 | $105,000 |
| 752.62 | 1 | $85,000 | $85,000 |
| 774.27 | 1 | $65,000 | $65,000 |
| 782.43 | 1 | $85,000 | $85,000 |
| 782.68 | 1 | $195,000 | $195,000 |
| 787.69 | 1 | $85,000 | $85,000 |
| 788.32 | 1 | $235,000 | $235,000 |
| 789.27 | 1 | $285,000 | $285,000 |
| 790.92 | 1 | $155,000 | $155,000 |
| 799.47 | 1 | $55,000 | $55,000 |
| 802.6 | 1 | $35,000 | $35,000 |
| 810.23 | 1 | $255,000 | $255,000 |
| 810.49 | 1 | $105,000 | $105,000 |
| 811.06 | 1 | $75,000 | $75,000 |
| 817.47 | 1 | $85,000 | $85,000 |
| 829.24 | 1 | $75,000 | $75,000 |
| 830.42 | 1 | $125,000 | $125,000 |
| 832.34 | 1 | $85,000 | $85,000 |
| 832.42 | 1 | $145,000 | $145,000 |
| 840.82 | 1 | $115,000 | $115,000 |
| 840.86 | 1 | $145,000 | $145,000 |
| 848.4 | 1 | $35,000 | $35,000 |
| 850.09 | 1 | $185,000 | $185,000 |
| 850.1 | 1 | $115,000 | $115,000 |
| 881.27 | 1 | $75,000 | $75,000 |
| 889.6 | 1 | $95,000 | $95,000 |
| 890.01 | 1 | $45,000 | $45,000 |
| 892.03 | 1 | $35,000 | $35,000 |
| 902.04 | 1 | $95,000 | $95,000 |
| 904.75 | 1 | $75,000 | $75,000 |
| 907.63 | 1 | $95,000 | $95,000 |
| 914.63 | 1 | $295,000 | $295,000 |
| 915.03 | 1 | $255,000 | $255,000 |
| 918.14 | 1 | $195,000 | $195,000 |
| 928.28 | 1 | $85,000 | $85,000 |
| 940.23 | 1 | $85,000 | $85,000 |
| 970.25 | 1 | $135,000 | $135,000 |
| 970.32 | 1 | $125,000 | $125,000 |
| 979.3 | 1 | $85,000 | $85,000 |
| 984.1 | 1 | $205,000 | $205,000 |
| 986.74 | 1 | $125,000 | $125,000 |
| 999.72 | 1 | $65,000 | $65,000 |
| NA | 1 | $35,000 | $35,000 |