Tlc Community Credit Union Mortgage Rates, Fees & Info

Adrian, MI

LEI: 549300KGMIRA554NW480

Tax ID: 38-1524325

5 stars - Updated: 12/16/24 - out of 5 stars, based on 20 reviews

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

Jump to:

  • SimulatedRates™
  • Mortgage Calculator

    • Mortgage Data

  • Originations
  • Relative Rates
  • Relative Fees
  • 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

    Tlc Community Credit Union is a smaller credit union specializing in Cash Out Refi and Home Purchase loans. Tlc Community Credit Union has a high proportion of conventional loans. Their top markets by origination volume include: Adrian, Monroe, Jackson, Hillsdale, and Toledo among others. We have data for 15 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Tlc Community 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. Tlc Community 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 relatively high 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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    SimulatedRates™

    Mortgage Type     		Simulated Rate Simulation Date
    30 Year Conventional Purchase 6.58% 12/16/24
    30 Year Conventional Refi 6.58% 12/16/24
    30 Year Cash-out Refi 6.78% 12/16/24
    15 Year Conventional Purchase 6.03% 12/16/24
    15 Year Conventional Refi 5.86% 12/16/24
    15 Year Cash-out Refi 5.86% 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.

    Tlc Community Credit Union Mortgage Calculator






    Your Estimates

    Estimated Loan Payment: Update the calculator values and click calculate payment!

    This is not an official calculator from Tlc Community Credit Union. It uses our SimulatedRate™ technology, basic math and reasonable assumptions to calculate mortgage payments derived from our simulations and your inputs.

    The default purchase price is the median sales price across the US for 2022Q4, per FRED.


    Originations

    387

    Origination Dollar Volume (All Markets)

    $36,335,000
    Show all (5) awards

    Relative Rate

    Tlc Community Credit Union's average 30 year fixed mortgage rate was 6.76%.

    The 2023 average 30 year fixed rate mortgage across all markets and lenders was 6.48%.

    This yields a difference of 0.28%.

    Relative Fees (Closing Costs)

    Tlc Community Credit Union's average total fees/closing costs for a 30 year fixed rate mortgage were $2,749.

    The average total origination fees for 30 year fixed rate mortgages across all lenders (for all loan values, including both points & up-front fees in addition to origination fees) were $9,089.

    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
    Adrian, MI (FHA|USDA|VA) 304 $27,090,000 $89,112 $1,300 7.65%
    MONROE, MI (FHA|USDA|VA) 30 $3,430,000 $114,333 $1,575 7.62%
    JACKSON, MI (FHA|USDA|VA) 10 $1,070,000 $107,000 $1,487 7.68%
    Hillsdale, MI (FHA|USDA|VA) 11 $995,000 $90,455 $727 8.20%
    Outside of Metro Areas 7 $815,000 $116,429 $2,785 7.73%
    TOLEDO, OH (FHA|USDA|VA) 8 $750,000 $93,750 $1,583 7.70%
    ANN ARBOR, MI (FHA|USDA|VA) 7 $695,000 $99,286 $1,058 7.63%
    Detroit-Warren-Dearborn, MI (FHA|USDA|VA) 3 $385,000 $128,333 $2,085 7.00%
    Coldwater, MI (FHA|USDA|VA) 1 $245,000 $245,000 $2,839 7.50%
    Cadillac, MI (FHA|USDA|VA) 1 $205,000 $205,000 $2,744 5.50%
    NILES, MI (FHA|USDA|VA) 1 $185,000 $185,000 $3,045 6.50%
    FLINT, MI (FHA|USDA|VA) 1 $165,000 $165,000 $3,559 6.25%
    Defiance, OH (FHA|USDA|VA) 1 $155,000 $155,000 $2,391 7.75%
    LANSING-EAST LANSING, MI (FHA|USDA|VA) 1 $125,000 $125,000 $2,688 5.88%
    GRAND RAPIDS-KENTWOOD, MI (FHA|USDA|VA) 1 $25,000 $25,000 $0 8.25%
    Tlc Community Credit Union's top markets include Adrian, Monroe, Jackson, Hillsdale, and Toledo among others.

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

    • Similar Lenders

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

    TLC COMMUNITY Credit Union
    Similarity Rank: 105
    MONROE COUNTY COMMUNITY CREDIT UNION
    Similarity Rank: 115
    Directions Credit Union, Inc.
    Similarity Rank: 385
    MORTGAGE CENTER L.C
    Similarity Rank: 468
    Independent Bank
    Similarity Rank: 570
    The Dart Bank
    Similarity Rank: 670
    DFCU FINANCIAL
    Similarity Rank: 714
    County National Bank
    Similarity Rank: 740
    HOWARD HANNA FINANCIAL SERVICES, INC.
    Similarity Rank: 864
    First Federal Bank of the Midwest
    Similarity Rank: 1164

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 303 $30,425,000 $100,413 $1,396 7.41%
    HELOC 84 $5,910,000 $70,357 n/a 8.51%

    For 2023, Tlc Community Credit Union's most frequently originated type of loan was Conventional, with 303 originations. Their 2nd most popular type was HELOC, with 84 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Cash Out Refi 252 $15,160,000 $60,159 $299 8.17%
    Home Purchase 131 $20,725,000 $158,206 $2,814 6.70%
    Refi 4 $450,000 $112,500 $2,163 5.97%

    For 2023, Tlc Community Credit Union's most frequently cited loan purpose was Cash Out Refi, with 252 originations. The 2nd most popular reason was Home Purchase, with 131 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 149 $22,825,000 $153,188 $2,749 6.76%
    15 Year 90 $4,770,000 $53,000 $90 8.10%
    Other 85 $5,965,000 $70,176 $0 8.50%
    10 Year 46 $1,610,000 $35,000 $3 7.93%
    5 Year 14 $470,000 $33,571 $7 8.30%
    30+ year 2 $580,000 $290,000 $4,532 6.75%
    20 Year 1 $115,000 $115,000 $2,755 6.25%

    For 2023, Tlc Community Credit Union's most frequently cited loan duration was 30 Year, with 149 originations. The 2nd most popular length was 15 Year, with 90 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 293 $28,865,000 $98,515
    $1k-2k 6 $1,040,000 $173,333
    $3k-4k 2 $230,000 $115,000
    $2k-3k 1 $185,000 $185,000
    $4k-5k 1 $105,000 $105,000

    Tlc Community Credit Union's average total fees were $2,749, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 293 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    7-8% 134 $11,440,000 $85,373
    Over 8% 126 $7,910,000 $62,778
    6-7% 94 $12,400,000 $131,915
    5-6% 33 $4,585,000 $138,939

    During 2023, Tlc Community Credit Union's average interest rate for loans was 6.76%, while their most frequently originated rate bucket for loans was 7-8%, with 134 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 242 $11,380,000 $47,025 $495 8.02%
    $100k-200k 106 $15,340,000 $144,717 $2,524 7.06%
    $200k-400k 39 $9,615,000 $246,538 $3,004 6.95%

    2023 saw Tlc Community Credit Union place emphasis on $100,000 or less loans with 242 originations, totaling $11,380,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 115 $11,745,000 $102,130 $1,747 7.45%
    $100k-150k 98 $9,370,000 $95,612 $1,320 7.76%
    $50k or less 65 $4,845,000 $74,538 $1,414 7.49%
    $75k-100k 65 $4,965,000 $76,385 $843 7.84%
    $150k-250k 35 $4,465,000 $127,571 $1,550 7.87%
    $250k+ 8 $850,000 $106,250 $0 7.84%

    Tlc Community Credit Union lent most frequently to those with incomes in the $50k-75k range, with 115 originations. The second most popular income band? $100k-150k, with 98 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 116 $9,280,000 $80,000 $1,099 7.75%
    30-36% 78 $7,390,000 $94,744 $1,401 7.63%
    <20% 27 $1,625,000 $60,185 $942 7.57%
    38% 21 $2,095,000 $99,762 $1,504 7.58%
    36% 18 $2,080,000 $115,556 $1,646 7.83%
    42% 17 $1,735,000 $102,059 $1,181 7.74%
    37% 17 $1,595,000 $93,824 $1,443 7.33%
    39% 17 $1,505,000 $88,529 $1,329 8.04%
    41% 16 $1,570,000 $98,125 $1,357 8.23%
    40% 15 $1,775,000 $118,333 $1,418 7.30%
    43% 14 $1,750,000 $125,000 $1,745 7.46%
    44% 9 $875,000 $97,222 $1,997 7.33%
    49% 7 $835,000 $119,286 $2,232 7.30%
    47% 7 $905,000 $129,286 $2,669 7.14%
    45% 3 $565,000 $188,333 $2,710 8.08%
    48% 3 $415,000 $138,333 $2,661 6.13%
    46% 2 $340,000 $170,000 $2,996 6.44%

    Tlc Community Credit Union lent most frequently to those with DTI ratios of 20-30%, with 116 originations. The next most common DTI ratio? 30-36%, with 78 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 339 $30,735,000 $90,664 $1,356 7.70%
    Not provided 45 $5,115,000 $113,667 $1,618 7.35%
    American Indian 2 $410,000 $205,000 $2,673 6.38%
    Asian 1 $75,000 $75,000 $0 7.50%

    Approval Rates

    Total approvals of all applications
    88.84%

    Tlc Community Credit Union has an average approval rate.

    Pick Rate

    Approvals leading to origination
    87.34%

    Tlc Community Credit Union has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 387 $36,335,000 $93,889

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    387 $36,335,000 $93,889

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 87 $6,145,000 $70,632 $491 8.20%
    40-60% 31 $3,785,000 $122,097 $2,056 7.32%
    60-80% 56 $8,080,000 $144,286 $2,777 6.90%
    80-100% 78 $13,660,000 $175,128 $2,787 6.82%
    Under 20% 135 $4,665,000 $34,556 $3 8.16%