Tlc Community Credit Union Mortgage Rates, Fees & Info

Adrian, MI

LEI: 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.

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% 12/8/24
30 Year Conventional Refi 6.58% 12/8/24
30 Year Cash-out Refi 6.78% 12/8/24
15 Year Conventional Purchase 6.03% 12/8/24
15 Year Conventional Refi 5.86% 12/8/24
15 Year Cash-out Refi 5.86% 12/8/24
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

450

Origination Dollar Volume (All Markets)

$49,440,000

Awards

TLC COMMUNITY Credit Union 30 Year Conventional Loans gold TLC COMMUNITY Credit Union 30 Year Conventional Loans gold TLC COMMUNITY Credit Union 30 Year Conventional Loans silver
Show all (3) 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
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%
Tlc Community Credit Union's top markets include Adrian, Monroe, Jackson, Hillsdale, and Ann Arbor 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.

    The State Bank
    Similarity Rank: 460
    TLC COMMUNITY Credit Union
    Similarity Rank: 600
    DFCU FINANCIAL
    Similarity Rank: 950
    BLG HOLDINGS, INC.
    Similarity Rank: 1012
    Directions Credit Union, Inc.
    Similarity Rank: 1225
    County National Bank
    Similarity Rank: 1456
    MORTGAGE CENTER L.C
    Similarity Rank: 1600
    Independent Bank
    Similarity Rank: 2184

    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

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Cash Out Refi 264 $19,220,000 $72,803 $1,044 5.26%
    Home Purchase 161 $27,675,000 $171,894 $2,815 5.37%
    Refi 25 $2,545,000 $101,800 $2,101 3.81%

    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

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 194 $31,940,000 $164,639 $2,720 5.25%
    Other 115 $7,475,000 $65,000 $1,759 5.00%
    15 Year 69 $5,765,000 $83,551 $1,192 5.13%
    10 Year 52 $2,140,000 $41,154 $329 5.73%
    20 Year 10 $1,630,000 $163,000 $2,508 4.48%
    5 Year 9 $245,000 $27,222 $44 5.68%
    30+ year 1 $245,000 $245,000 $4,821 6.13%

    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

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 318 $39,600,000 $124,528
    $1k-2k 16 $2,090,000 $130,625
    $2k-3k 2 $160,000 $80,000
    $3k-4k 1 $145,000 $145,000
    $5k+ 1 $295,000 $295,000

    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

    Loan Rate Originations Total Value Average Loan
    5-6% 149 $15,455,000 $103,725
    3-4% 95 $11,445,000 $120,474
    6-7% 86 $9,650,000 $112,209
    4-5% 69 $7,965,000 $115,435
    7-8% 27 $2,705,000 $100,185
    2.5-3% 14 $1,670,000 $119,286
    Over 8% 6 $210,000 $35,000
    <2.5% 4 $340,000 $85,000

    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

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 247 $12,275,000 $49,696 $1,093 5.37%
    $100k-200k 134 $19,090,000 $142,463 $2,575 4.98%
    $200k-400k 66 $16,460,000 $249,394 $2,900 5.13%
    $400k-600k 2 $970,000 $485,000 $3,258 5.44%
    $600k-1MM 1 $645,000 $645,000 $0 7.00%

    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

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 125 $12,915,000 $103,320 $1,811 5.45%
    $50k or less 106 $8,040,000 $75,849 $1,934 5.23%
    $100k-150k 92 $11,820,000 $128,478 $2,270 4.91%
    $75k-100k 83 $10,015,000 $120,663 $2,035 5.25%
    $150k-250k 35 $4,865,000 $139,000 $1,712 5.28%
    $250k+ 5 $1,575,000 $315,000 $2,631 5.25%

    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

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 133 $13,445,000 $101,090 $1,871 5.04%
    30-36% 88 $10,210,000 $116,023 $2,205 5.10%
    <20% 47 $4,305,000 $91,596 $1,933 5.16%
    42% 23 $2,185,000 $95,000 $1,441 5.43%
    40% 22 $2,620,000 $119,091 $1,607 5.60%
    41% 20 $2,450,000 $122,500 $1,717 5.17%
    44% 16 $2,170,000 $135,625 $2,413 5.41%
    36% 15 $1,445,000 $96,333 $1,815 5.49%
    43% 15 $2,295,000 $153,000 $2,202 5.69%
    39% 14 $1,080,000 $77,143 $1,598 5.86%
    38% 13 $1,725,000 $132,692 $2,453 4.80%
    37% 12 $800,000 $66,667 $765 5.72%
    46% 9 $1,215,000 $135,000 $2,234 5.10%
    45% 7 $695,000 $99,286 $1,708 5.59%
    48% 7 $1,505,000 $215,000 $2,879 5.45%
    47% 5 $845,000 $169,000 $2,739 5.60%
    49% 4 $450,000 $112,500 $2,398 4.44%

    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

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 387 $41,585,000 $107,455 $1,979 5.21%
    Not provided 56 $6,970,000 $124,464 $1,809 5.31%
    Asian 2 $300,000 $150,000 $2,795 4.44%
    American Indian 1 $255,000 $255,000 $2,991 5.88%
    Black 3 $195,000 $65,000 $2,446 4.96%
    Other Asian 1 $135,000 $135,000 $0 6.00%

    Approval Rates

    Total approvals of all applications
    89.52%

    Tlc Community Credit Union has an average approval rate.

    Pick Rate

    Approvals leading to origination
    71.56%

    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

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    450 $49,440,000 $109,867

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 98 $6,700,000 $68,367 $1,161 5.12%
    40-60% 56 $6,110,000 $109,107 $2,019 4.72%
    60-80% 78 $12,770,000 $163,718 $2,580 4.86%
    80-100% 114 $20,510,000 $179,912 $2,793 5.40%
    Under 20% 104 $3,350,000 $32,212 $51 5.66%