Kalsee Credit Union Mortgage Rates, Fees & Info

Kalamazoo, MI

LEI: 549300MG52SOKOHXJM80

Tax ID: 38-1543701

5 stars - Updated: 4/5/25 - out of 5 stars, based on 12 reviews

Latest/2024 | 2023 Data | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data

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Mortgage Data

Review & Overview

Kalsee Credit Union is a smaller credit union specializing in Home Improvement, Other, and Home Purchase loans. Kalsee Credit Union has a high proportion of conventional loans. Their top markets by origination volume include: Kalamazoo, Battle Creek, Sturgis, Holland, and Grand Rapids among others. We have data for 9 markets. (Some data included below & more in-depth data is available with an active subscription.)

Kalsee Credit Union has an above average approval rate when compared to the average across all lenders. They have an above average pick rate when compared to similar lenders. Kalsee 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.

Mortgage professionals: We have various tools to make your lives easier. Contact us to see how we can help with your market research, analytics or advertising needs.

SimulatedRates™

Mortgage Type
Simulated Rate Simulation Date
30 Year Conventional Purchase 7.26% 4/5/25
30 Year Conventional Refi 6.59% 4/5/25
30 Year Cash-out Refi 7.12% 4/5/25
15 Year Conventional Refi 6.00% 4/5/25
15 Year Cash-out Refi 6.00% 4/5/25
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.

Kalsee Credit Union Mortgage Calculator






Your Estimates

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

This is not an official calculator from Kalsee 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

156

Origination Dollar Volume (All Markets)

$11,600,000

Awards

KALSEE CREDIT UNION 30 Year Conventional Loans silver
Show all (1) awards

Relative Rate

Kalsee Credit Union's average 30 year fixed mortgage rate was 6.84%.

The 2024 average 30 year fixed rate mortgage across all markets and lenders was 6.55%.

This yields a difference of 0.29%.

Relative Fees (Closing Costs)

Kalsee Credit Union's average total fees/closing costs for a 30 year fixed rate mortgage were $3,353.

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 $8,356.

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
KALAMAZOO-PORTAGE, MI (FHA|USDA|VA) 95 $7,155,000 $75,316 $3,448 7.05%
Outside of Metro Areas 18 $1,460,000 $81,111 $3,206 6.94%
BATTLE CREEK, MI (FHA|USDA|VA) 20 $1,270,000 $63,500 $3,080 7.06%
Sturgis, MI (FHA|USDA|VA) 7 $605,000 $86,429 $3,240 5.96%
Holland, MI (FHA|USDA|VA) 9 $435,000 $48,333 $0 7.38%
GRAND RAPIDS-KENTWOOD, MI (FHA|USDA|VA) 2 $270,000 $135,000 $3,585 8.06%
LANSING-EAST LANSING, MI (FHA|USDA|VA) 2 $200,000 $100,000 $3,341 7.81%
MUSKEGON, MI (FHA|USDA|VA) 1 $115,000 $115,000 $0 8.99%
JACKSON, MI (FHA|USDA|VA) 2 $90,000 $45,000 $3,168 7.25%
Kalsee Credit Union's top markets include Kalamazoo, Battle Creek, Sturgis, Holland, and Grand Rapids among others.

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

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

    MARSHALL COMMUNITY CREDIT UNION
    Similarity Rank: 78
    FIRST CHOICE MH LLC
    Similarity Rank: 189
    KALSEE CREDIT UNION
    Similarity Rank: 189
    OMNI Community Credit Union
    Similarity Rank: 352
    Kellogg Community Credit Union
    Similarity Rank: 504
    ARBOR FINANCIAL CREDIT UNION
    Similarity Rank: 525
    Honor Credit Union
    Similarity Rank: 624
    SUMMIT HOME MORTGAGE, LLC
    Similarity Rank: 715
    OAK MORTGAGE, LLC
    Similarity Rank: 855
    Mercantile Bank of Michigan
    Similarity Rank: 1081

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    HELOC 86 $5,300,000 $61,628 n/a 6.55%
    Conventional 70 $6,300,000 $90,000 $3,353 7.65%

    For 2024, Kalsee Credit Union's most frequently originated type of loan was HELOC, with 86 originations. Their 2nd most popular type was Conventional, with 70 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Improvement 64 $3,660,000 $57,188 $0 7.04%
    Other 46 $2,870,000 $62,391 $0 7.56%
    Home Purchase 20 $3,230,000 $161,500 $3,508 6.92%
    Refi 15 $915,000 $61,000 $2,877 6.05%
    Cash Out Refi 11 $925,000 $84,091 $2,995 6.54%

    For 2024, Kalsee Credit Union's most frequently cited loan purpose was Home Improvement, with 64 originations. The 2nd most popular reason was Other, with 46 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 82 $5,010,000 $61,098 $0 6.46%
    30 Year 28 $4,070,000 $145,357 $3,353 6.84%
    15 Year 27 $1,815,000 $67,222 $0 8.44%
    10 Year 12 $540,000 $45,000 $0 8.07%
    5 Year 7 $165,000 $23,571 $0 7.45%

    For 2024, Kalsee Credit Union's most frequently cited loan duration was Other, with 82 originations. The 2nd most popular length was 30 Year, with 28 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 27 $3,955,000 $146,481
    $5k+ 1 $115,000 $115,000

    Kalsee Credit Union's average total fees were $3,353, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 27 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    Over 8% 59 $3,785,000 $64,153
    4-5% 45 $2,785,000 $61,889
    7-8% 26 $2,120,000 $81,538
    6-7% 23 $2,695,000 $117,174
    5-6% 2 $140,000 $70,000

    During 2024, Kalsee Credit Union's average interest rate for loans was 6.84%, while their most frequently originated rate bucket for loans was Over 8%, with 59 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 113 $5,375,000 $47,566 $2,921 6.99%
    $100k-200k 37 $4,795,000 $129,595 $3,508 7.21%
    $200k-400k 6 $1,430,000 $238,333 $3,462 6.96%

    2024 saw Kalsee Credit Union place emphasis on $100,000 or less loans with 113 originations, totaling $5,375,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 39 $2,565,000 $65,769 $3,203 7.13%
    $100k-150k 35 $2,965,000 $84,714 $3,889 7.16%
    $50k or less 32 $1,860,000 $58,125 $3,021 6.70%
    $75k-100k 29 $2,175,000 $75,000 $3,290 7.19%
    $150k-250k 15 $1,375,000 $91,667 $3,586 7.02%
    $250k+ 5 $565,000 $113,000 $0 7.09%

    Kalsee Credit Union lent most frequently to those with incomes in the $50k-75k range, with 39 originations. The second most popular income band? $100k-150k, with 35 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    30-36% 40 $2,630,000 $65,750 $3,175 6.96%
    20-30% 35 $2,595,000 $74,143 $3,114 6.82%
    <20% 18 $890,000 $49,444 $7,474 6.91%
    43% 8 $720,000 $90,000 $3,290 6.87%
    39% 8 $570,000 $71,250 $3,218 6.59%
    40% 8 $590,000 $73,750 $0 7.24%
    36% 7 $495,000 $70,714 $3,501 7.87%
    42% 7 $685,000 $97,857 $3,244 7.07%
    38% 6 $540,000 $90,000 $3,263 7.20%
    41% 5 $275,000 $55,000 $0 8.54%
    44% 3 $145,000 $48,333 $0 8.33%
    37% 3 $185,000 $61,667 $0 7.24%
    48% 2 $360,000 $180,000 $3,132 6.75%
    50-60% 1 $195,000 $195,000 $3,245 7.75%
    46% 1 $105,000 $105,000 $0 4.99%
    45% 1 $125,000 $125,000 $3,043 7.50%
    47% 1 $245,000 $245,000 $3,585 7.63%

    Kalsee Credit Union lent most frequently to those with DTI ratios of 30-36%, with 40 originations. The next most common DTI ratio? 20-30%, with 35 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 133 $9,425,000 $70,865 $3,308 7.05%
    Not provided 14 $1,720,000 $122,857 $3,417 6.79%
    Black 9 $455,000 $50,556 $3,174 7.29%

    Approval Rates

    Total approvals of all applications
    90.81%

    Kalsee Credit Union has an average approval rate.

    Pick Rate

    Approvals leading to origination
    92.31%

    Kalsee Credit Union has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 156 $11,600,000 $74,359

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    156 $11,600,000 $74,359

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 55 $3,895,000 $70,818 $2,916 7.04%
    40-60% 18 $2,070,000 $115,000 $3,090 7.23%
    60-80% 12 $1,510,000 $125,833 $3,187 6.71%
    80-100% 12 $2,030,000 $169,167 $3,660 7.17%
    Under 20% 58 $2,020,000 $34,828 $0 7.05%