Tlc Community Credit Union Mortgage Rates, Fees & Info
Adrian, MILEI: 549300KGMIRA554NW480
Tax ID: 38-1524325
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Mortgage Data
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 Ann Arbor 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.
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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| 30 Year Conventional Purchase | 6.58% | 4/28/24 |
| 30 Year Conventional Refi | 6.58% | 4/28/24 |
| 30 Year Cash-out Refi | 6.78% | 4/28/24 |
| 15 Year Conventional Purchase | 6.03% | 4/28/24 |
| 15 Year Conventional Refi | 5.86% | 4/28/24 |
| 15 Year Cash-out Refi | 5.86% | 4/28/24 |
| 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
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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
450Origination Dollar Volume (All Markets)
$49,440,000Awards
TLC COMMUNITY Credit Union - 2022
TLC COMMUNITY Credit Union is a 2022 , due to their low .
For 2022, less than of lenders were eligible for this award.
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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) | 371 | $38,735,000 | $104,407 | $1,907 | 5.26% |
| MONROE, MI (FHA|USDA|VA) | 21 | $3,205,000 | $152,619 | $2,147 | 5.27% |
| JACKSON, MI (FHA|USDA|VA) | 17 | $2,325,000 | $136,765 | $2,645 | 4.55% |
| Hillsdale, MI (FHA|USDA|VA) | 13 | $1,885,000 | $145,000 | $1,980 | 4.90% |
| ANN ARBOR, MI (FHA|USDA|VA) | 7 | $845,000 | $120,714 | $1,089 | 5.38% |
| Detroit-Warren-Dearborn, MI (FHA|USDA|VA) | 6 | $810,000 | $135,000 | $2,906 | 4.75% |
| Outside of Metro Areas | 4 | $400,000 | $100,000 | $1,530 | 5.22% |
| TOLEDO, OH (FHA|USDA|VA) | 4 | $340,000 | $85,000 | $1,686 | 5.25% |
| FLINT, MI (FHA|USDA|VA) | 1 | $245,000 | $245,000 | $4,821 | 6.13% |
| LANSING-EAST LANSING, MI (FHA|USDA|VA) | 1 | $245,000 | $245,000 | $2,795 | 5.63% |
| GRAND RAPIDS-KENTWOOD, MI (FHA|USDA|VA) | 1 | $165,000 | $165,000 | $3,050 | 5.50% |
| MUSKEGON, MI (FHA|USDA|VA) | 1 | $95,000 | $95,000 | $2,490 | 6.50% |
| NILES, MI (FHA|USDA|VA) | 1 | $55,000 | $55,000 | $0 | 3.25% |
| Big Rapids, MI (FHA|USDA|VA) | 1 | $55,000 | $55,000 | $0 | 7.00% |
| KALAMAZOO-PORTAGE, MI (FHA|USDA|VA) | 1 | $35,000 | $35,000 | $0 | 3.25% |
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.
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Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 339 | $42,325,000 | $124,853 | $1,961 | 5.29% |
| HELOC | 111 | $7,115,000 | $64,099 | n/a | 5.00% |
For 2022, Tlc Community Credit Union's most frequently originated type of loan was Conventional, with 339 originations. Their 2nd most popular type was HELOC, with 111 originations.
Loan Reason
For 2022, Tlc Community Credit Union's most frequently cited loan purpose was Cash Out Refi, with 264 originations. The 2nd most popular reason was Home Purchase, with 161 originations.
Loan Duration/Length
For 2022, Tlc Community Credit Union's most frequently cited loan duration was 30 Year, with 194 originations. The 2nd most popular length was Other, with 115 originations.
Origination Fees/Closing Costs
Tlc Community Credit Union's average total fees were $2,720, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 318 originations.
Interest Rates
During 2022, Tlc Community Credit Union's average interest rate for loans was 5.25%, while their most frequently originated rate bucket for loans was 5-6%, with 149 originations.
Loan Sizing
2022 saw Tlc Community Credit Union place emphasis on $100,000 or less loans with 247 originations, totaling $12,275,000 in origination value.
Applicant Income
Tlc Community Credit Union lent most frequently to those with incomes in the $50k-75k range, with 125 originations. The second most popular income band? $50k or less, with 106 originations.
Applicant Debt to Income Ratio
Tlc Community Credit Union lent most frequently to those with DTI ratios of 20-30%, with 133 originations. The next most common DTI ratio? 30-36%, with 88 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications89.52%
Tlc Community Credit Union has an average approval rate.
Pick Rate
Approvals leading to origination71.56%
Tlc Community Credit Union has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 450 | $49,440,000 | $109,867 |