Zeal Credit Union Mortgage Rates, Fees & Info
Livonia, MILEI: 549300DXF2FQC64H6G42
Tax ID: 38-1569911
Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data
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Mortgage Data
Review & Overview
Zeal Credit Union is a smaller credit union specializing in Refi, Home Improvement, and Other loans. They also have a high ratio of USDA loans. Zeal Credit Union has an average proportion of conventional loans. Their top markets by origination volume include: Detroit, Monroe, Ann Arbor, Cadillac, and Grand Rapids among others. We have data for 11 markets. (Some data included below & more in-depth data is available with an active subscription.)Zeal 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 | 5.79% | 12/16/24 |
| 30 Year Conventional Refi | 6.15% | 12/16/24 |
| 30 Year Cash-out Refi | 6.03% | 12/16/24 |
| 15 Year Conventional Refi | 6.00% | 12/16/24 |
| 15 Year Cash-out Refi | 6.00% | 12/16/24 |
| 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. | ||
Zeal Credit Union Mortgage Calculator
Your Estimates
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
261Origination Dollar Volume (All Markets)
$14,205,000Top 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) | 235 | $12,565,000 | $53,468 | $0 | 0.00% |
| MONROE, MI (FHA|USDA|VA) | 7 | $365,000 | $52,143 | $0 | 0.00% |
| Outside of Metro Areas | 4 | $280,000 | $70,000 | $0 | 0.00% |
| ANN ARBOR, MI (FHA|USDA|VA) | 5 | $255,000 | $51,000 | $0 | 0.00% |
| Cadillac, MI (FHA|USDA|VA) | 2 | $150,000 | $75,000 | $0 | 0.00% |
| GRAND RAPIDS-KENTWOOD, MI (FHA|USDA|VA) | 2 | $140,000 | $70,000 | $0 | 0.00% |
| Adrian, MI (FHA|USDA|VA) | 1 | $125,000 | $125,000 | $0 | 0.00% |
| Traverse City, MI (FHA|USDA|VA) | 2 | $120,000 | $60,000 | $0 | 0.00% |
| JACKSON, MI (FHA|USDA|VA) | 1 | $95,000 | $95,000 | $0 | 0.00% |
| Hillsdale, MI (FHA|USDA|VA) | 1 | $65,000 | $65,000 | $0 | 0.00% |
| FLINT, MI (FHA|USDA|VA) | 1 | $45,000 | $45,000 | $0 | 0.00% |
Similar Lenders
We use machine learning to identify the top lenders compared against Zeal Credit Union based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.
Similarity Rank: 15
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Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| USDA | 213 | $12,135,000 | $56,972 | $0 | 0.00% |
| Conventional | 48 | $2,070,000 | $43,125 | $0 | 0.00% |
For 2023, Zeal Credit Union's most frequently originated type of loan was USDA, with 213 originations. Their 2nd most popular type was Conventional, with 48 originations.
Loan Reason
For 2023, Zeal Credit Union's most frequently cited loan purpose was Refi, with 106 originations. The 2nd most popular reason was Home Improvement, with 87 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Other | 261 | $14,205,000 | $54,425 | $0 | 0.00% |
For 2023, Zeal Credit Union's most frequently cited loan duration was Other, with 261 originations.
Loan Sizing
2023 saw Zeal Credit Union place emphasis on $100,000 or less loans with 236 originations, totaling $10,800,000 in origination value.
Applicant Income
Zeal Credit Union lent most frequently to those with incomes in the $50k-75k range, with 71 originations. The second most popular income band? $100k-150k, with 58 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications86.49%
Zeal Credit Union has an average approval rate.
Pick Rate
Approvals leading to origination85.82%
Zeal Credit Union has an average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 261 | $14,205,000 | $54,425 |