Vibe Credit Union Mortgage Rates, Fees & Info

NOVI, MI

LEI: 549300K8NJ9C372LP855

Tax ID: 38-1093900

Latest/2023 | 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

    Vibe Credit Union is a smaller credit union specializing in Cash Out Refi, Home Purchase, and Refi loans. Vibe Credit Union has a high proportion of conventional loans. Their top markets by origination volume include: Detroit, Ann Arbor, Flint, Lansing, and Monroe among others. We have data for 8 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Vibe 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. Vibe 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.

    Mortgage seekers: Choose your metro area here to explore the lowest fee & rate lenders.

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    Originations

    313

    Origination Dollar Volume (All Markets)

    $32,385,000

    Awards

    Vibe Credit Union 30 Year Conventional Loans bronze Vibe Credit Union 30 Year Conventional Loans bronze Vibe Credit Union 30 Year Conventional Loans silver Vibe Credit Union 30 Year Conventional Loans bronze
    Show all (4) 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) 287 $29,325,000 $102,178 $1,561 4.54%
    ANN ARBOR, MI (FHA|USDA|VA) 9 $1,305,000 $145,000 $1,551 4.33%
    FLINT, MI (FHA|USDA|VA) 3 $625,000 $208,333 $3,738 4.87%
    Outside of Metro Areas 6 $550,000 $91,667 $2,344 4.89%
    LANSING-EAST LANSING, MI (FHA|USDA|VA) 3 $375,000 $125,000 $2,231 3.96%
    MONROE, MI (FHA|USDA|VA) 1 $105,000 $105,000 $1,924 4.75%
    GRAND RAPIDS-KENTWOOD, MI (FHA|USDA|VA) 3 $85,000 $28,333 $305 3.74%
    Traverse City, MI (FHA|USDA|VA) 1 $15,000 $15,000 $490 4.49%
    Vibe Credit Union's top markets include Detroit, Ann Arbor, Flint, Lansing, and Monroe among others.

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

    • Similar Lenders

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

    Polish-American Federal Credit Union
    Similarity Rank: 32
    Dort Financial Credit Union
    Similarity Rank: 95
    St James Mortgage Corporation
    Similarity Rank: 120
    FreeStar Financial Credit Union
    Similarity Rank: 345
    Extra
    Similarity Rank: 436
    Vibe Credit Union
    Similarity Rank: 448
    Northstar Bank
    Similarity Rank: 582
    COMMUNITY FINANCIAL CREDIT UNION
    Similarity Rank: 700
    ALLIANCE CATHOLIC CREDIT UNION
    Similarity Rank: 735
    Zeal Credit Union
    Similarity Rank: 819

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 313 $32,385,000 $103,466 $1,589 4.53%

    For 2018, Vibe Credit Union's most frequently originated type of loan was Conventional, with 313 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Cash Out Refi 92 $9,310,000 $101,196 $1,344 4.64%
    Home Purchase 84 $12,980,000 $154,524 $2,898 4.47%
    Home Improvement 78 $2,970,000 $38,077 $429 4.75%
    Refi 59 $7,125,000 $120,763 $1,640 4.15%

    For 2018, Vibe Credit Union's most frequently cited loan purpose was Cash Out Refi, with 92 originations. The 2nd most popular reason was Home Purchase, with 84 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 112 $18,630,000 $166,339 $2,676 4.50%
    15 Year 92 $7,630,000 $82,935 $1,243 4.80%
    10 Year 42 $2,270,000 $54,048 $545 4.64%
    Other 25 $1,015,000 $40,600 $364 4.47%
    20 Year 15 $2,055,000 $137,000 $2,697 4.63%
    3 Year 15 $405,000 $27,000 $320 3.12%
    5 Year 12 $380,000 $31,667 $497 4.12%

    For 2018, Vibe Credit Union's most frequently cited loan duration was 30 Year, with 112 originations. The 2nd most popular length was 15 Year, with 92 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 250 $21,210,000 $84,840
    $1k-2k 37 $6,645,000 $179,595
    $3k-4k 12 $2,180,000 $181,667
    $2k-3k 10 $1,400,000 $140,000
    $5k+ 3 $765,000 $255,000
    $4k-5k 1 $185,000 $185,000

    Vibe Credit Union's average total fees were $2,676, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 250 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    4-5% 157 $17,715,000 $112,834
    3-4% 89 $10,685,000 $120,056
    5-6% 23 $1,675,000 $72,826
    6-7% 17 $875,000 $51,471
    2.5-3% 14 $880,000 $62,857
    7-8% 7 $285,000 $40,714
    <2.5% 4 $200,000 $50,000
    Over 8% 2 $70,000 $35,000

    During 2018, Vibe Credit Union's average interest rate for loans was 4.50%, while their most frequently originated rate bucket for loans was 4-5%, with 157 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 181 $8,815,000 $48,702 $851 4.68%
    $100k-200k 92 $12,820,000 $139,348 $2,417 4.34%
    $200k-400k 38 $9,840,000 $258,947 $2,839 4.31%
    $400k-600k 2 $910,000 $455,000 $6,553 3.75%

    2018 saw Vibe Credit Union place emphasis on $100,000 or less loans with 181 originations, totaling $8,815,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 70 $6,960,000 $99,429 $1,696 4.51%
    $100k-150k 62 $6,460,000 $104,194 $1,315 4.50%
    $75k-100k 58 $5,890,000 $101,552 $1,808 4.51%
    $50k or less 50 $3,630,000 $72,600 $1,444 4.54%
    $150k-250k 45 $6,265,000 $139,222 $1,825 4.59%
    $250k+ 6 $1,100,000 $183,333 $1,274 3.66%

    Vibe Credit Union lent most frequently to those with incomes in the $50k-75k range, with 70 originations. The second most popular income band? $100k-150k, with 62 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 67 $7,235,000 $107,985 $1,584 4.56%
    30-36% 47 $5,235,000 $111,383 $1,573 4.58%
    <20% 21 $1,755,000 $83,571 $1,599 4.51%
    44% 11 $1,115,000 $101,364 $2,344 4.63%
    39% 10 $1,280,000 $128,000 $2,030 4.66%
    37% 9 $1,005,000 $111,667 $1,425 4.76%
    38% 9 $765,000 $85,000 $1,702 5.27%
    45% 7 $555,000 $79,286 $899 4.42%
    49% 6 $490,000 $81,667 $1,376 5.23%
    42% 5 $865,000 $173,000 $2,307 4.07%
    43% 5 $375,000 $75,000 $1,321 4.94%
    48% 5 $715,000 $143,000 $2,130 4.77%
    50-60% 5 $505,000 $101,000 $1,023 4.42%
    41% 4 $250,000 $62,500 $697 4.71%
    46% 3 $385,000 $128,333 $2,825 4.41%
    40% 3 $315,000 $105,000 $2,594 4.70%
    47% 2 $270,000 $135,000 $1,124 4.37%
    >60% 2 $100,000 $50,000 $937 5.18%
    36% 2 $310,000 $155,000 $2,391 4.25%

    Vibe Credit Union lent most frequently to those with DTI ratios of 20-30%, with 67 originations. The next most common DTI ratio? 30-36%, with 47 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 253 $26,575,000 $105,040 $1,609 4.52%
    Black 37 $3,475,000 $93,919 $1,565 4.73%
    Not provided 11 $1,315,000 $119,545 $1,944 4.46%
    Asian 9 $605,000 $67,222 $804 4.17%
    Asian Indian 2 $390,000 $195,000 $1,721 4.12%
    American Indian 1 $25,000 $25,000 $395 3.74%

    Approval Rates

    Total approvals of all applications
    92.09%

    Vibe Credit Union has an average approval rate.

    Pick Rate

    Approvals leading to origination
    86.58%

    Vibe Credit Union has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 313 $32,385,000 $103,466

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Single Family (1-4 Units):Site-Built 313 $32,385,000 $103,466

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 44 $2,800,000 $63,636 $706 4.95%
    40-60% 32 $3,930,000 $122,813 $1,945 4.46%
    60-80% 47 $8,155,000 $173,511 $2,765 4.46%
    80-100% 42 $6,820,000 $162,381 $2,893 4.57%
    Under 20% 59 $1,835,000 $31,102 $377 4.63%