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 Refi and Home Purchase loans. Glass City Federal Credit Union has a high proportion of conventional loans. Their top markets by origination volume include: Toledo, Monroe, Adrian, Key West, and Jackson among others. We have data for 6 markets. (Some data included below & more in-depth data is available with an active subscription.)Glass City Federal Credit Union 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.
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
103Origination Dollar Volume (All Markets)
$14,135,000Top 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) | 89 | $11,365,000 | $127,697 | $0 | 0.00% |
| MONROE, MI (FHA|USDA|VA) | 8 | $1,390,000 | $173,750 | $0 | 0.00% |
| Adrian, MI (FHA|USDA|VA) | 3 | $625,000 | $208,333 | $0 | 0.00% |
| Key West, FL (FHA|USDA|VA) | 1 | $565,000 | $565,000 | $0 | 0.00% |
| JACKSON, MI (FHA|USDA|VA) | 1 | $105,000 | $105,000 | $0 | 0.00% |
| COLUMBUS, OH (FHA|USDA|VA) | 1 | $85,000 | $85,000 | $0 | 0.00% |
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 | 103 | $14,135,000 | $137,233 | $0 | 0.00% |
For 2021, Glass City Federal Credit Union's most frequently originated type of loan was Conventional, with 103 originations.
Loan Reason
| Loan Reason | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Refi | 74 | $9,090,000 | $122,838 | $0 | 0.00% |
| Home Purchase | 28 | $5,020,000 | $179,286 | $0 | 0.00% |
| Home Improvement | 1 | $25,000 | $25,000 | $0 | 0.00% |
For 2021, Glass City Federal Credit Union's most frequently cited loan purpose was Refi, with 74 originations. The 2nd most popular reason was Home Purchase, with 28 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Other | 103 | $14,135,000 | $137,233 | $0 | 0.00% |
For 2021, Glass City Federal Credit Union's most frequently cited loan duration was Other, with 103 originations.
Loan Sizing
2021 saw Glass City Federal Credit Union place emphasis on $100k-200k loans with 52 originations, totaling $7,620,000 in origination value.
Applicant Income
Glass City Federal Credit Union lent most frequently to those with incomes in the $100k-150k range, with 28 originations. The second most popular income band? $50k or less, with 26 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Exempt% | 103 | $14,135,000 | $137,233 | $0 | 0.00% |
Glass City Federal Credit Union lent most frequently to those with DTI ratios of Exempt%, with 103 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications87.05%
Glass City Federal Credit Union has an average approval rate.
Pick Rate
Approvals leading to origination71.84%
Glass City Federal Credit Union has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| Exempt | 103 | $14,135,000 | $137,233 |