Kalsee Credit Union Mortgage Rates, Fees & Info

Kalamazoo, MI

LEI: 549300MG52SOKOHXJM80

Tax ID: 38-1543701

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

Jump to:

  • SimulatedRates™
  • Mortgage Calculator

    • 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

    Kalsee Credit Union is a smaller credit union specializing in Refi, Home Purchase, and Cash Out Refi loans. Kalsee Credit Union has a high proportion of conventional loans. They have a low ratio of USDA loans. Their top markets by origination volume include: Kalamazoo, Battle Creek, Sturgis, Detroit, 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 a below 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.

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    SimulatedRates™

    Mortgage Type     		Simulated Rate Simulation Date
    30 Year Conventional Purchase 6.93% 12/16/24
    30 Year Conventional Refi 6.58% 12/16/24
    30 Year Cash-out Refi 6.88% 12/16/24
    15 Year Conventional Purchase 5.89% 12/16/24
    15 Year Conventional Refi 5.68% 12/16/24
    15 Year Cash-out Refi 5.68% 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.

    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

    253

    Origination Dollar Volume (All Markets)

    $30,385,000

    Awards

    KALSEE CREDIT UNION 30 Year Conventional Loans gold KALSEE CREDIT UNION 30 Year Conventional Loans gold KALSEE CREDIT UNION 30 Year Conventional Loans bronze
    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
    KALAMAZOO-PORTAGE, MI (FHA|USDA|VA) 178 $22,240,000 $124,944 $2,735 3.25%
    Outside of Metro Areas 39 $4,175,000 $107,051 $2,714 3.01%
    BATTLE CREEK, MI (FHA|USDA|VA) 16 $1,400,000 $87,500 $2,657 3.84%
    Sturgis, MI (FHA|USDA|VA) 6 $850,000 $141,667 $2,912 2.90%
    Detroit-Warren-Dearborn, MI (FHA|USDA|VA) 3 $655,000 $218,333 $2,790 2.79%
    GRAND RAPIDS-KENTWOOD, MI (FHA|USDA|VA) 3 $565,000 $188,333 $2,842 2.50%
    Holland, MI (FHA|USDA|VA) 6 $390,000 $65,000 $2,685 2.72%
    SOUTH BEND-MISHAWAKA, IN-MI (FHA|USDA|VA) 1 $75,000 $75,000 $2,617 4.00%
    LANSING-EAST LANSING, MI (FHA|USDA|VA) 1 $35,000 $35,000 $0 5.00%
    Kalsee Credit Union's top markets include Kalamazoo, Battle Creek, Sturgis, Detroit, 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.

    BlueOx Credit Union
    Similarity Rank: 40
    KALSEE CREDIT UNION
    Similarity Rank: 162
    Pacor Mortgage Corp
    Similarity Rank: 588
    Kellogg Community Credit Union
    Similarity Rank: 714
    OMNI Community Credit Union
    Similarity Rank: 768
    Mercantile Bank of Michigan
    Similarity Rank: 988
    The Dart Bank
    Similarity Rank: 1035
    MICHIGAN STATE UNIVERSITY FEDERAL CREDIT UNION
    Similarity Rank: 1178
    ARBOR FINANCIAL CREDIT UNION
    Similarity Rank: 1404
    OAK MORTGAGE, LLC
    Similarity Rank: 1484

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 200 $27,200,000 $136,000 $2,724 3.29%
    HELOC 52 $3,030,000 $58,269 n/a 3.01%
    USDA 1 $155,000 $155,000 $4,719 2.75%

    For 2020, Kalsee Credit Union's most frequently originated type of loan was Conventional, with 200 originations. Their 2nd most popular type was HELOC, with 52 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Refi 70 $9,640,000 $137,714 $2,553 2.72%
    Home Purchase 53 $9,295,000 $175,377 $3,021 3.27%
    Cash Out Refi 46 $6,240,000 $135,652 $2,724 3.04%
    Home Improvement 43 $2,135,000 $49,651 $2,674 3.82%
    Other 39 $2,845,000 $72,949 $2,619 3.57%
    NA 2 $230,000 $115,000 $0 4.63%

    For 2020, Kalsee Credit Union's most frequently cited loan purpose was Refi, with 70 originations. The 2nd most popular reason was Home Purchase, with 53 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 88 $14,380,000 $163,409 $2,827 3.08%
    15 Year 81 $10,105,000 $124,753 $2,630 3.19%
    Other 49 $2,955,000 $60,306 $0 3.07%
    10 Year 19 $1,025,000 $53,947 $2,562 4.53%
    20 Year 13 $1,835,000 $141,154 $2,689 2.69%
    5 Year 3 $85,000 $28,333 $0 5.50%

    For 2020, Kalsee Credit Union's most frequently cited loan duration was 30 Year, with 88 originations. The 2nd most popular length was 15 Year, with 81 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 166 $25,640,000 $154,458
    $1k-2k 1 $215,000 $215,000

    Kalsee Credit Union's average total fees were $2,827, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 166 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    <2.5% 92 $11,790,000 $128,152
    2.5-3% 62 $9,660,000 $155,806
    3-4% 52 $6,610,000 $127,115
    4-5% 20 $1,000,000 $50,000
    5-6% 16 $870,000 $54,375
    6-7% 6 $290,000 $48,333
    7-8% 5 $165,000 $33,000

    During 2020, Kalsee Credit Union's average interest rate for loans was 3.08%, while their most frequently originated rate bucket for loans was <2.5%, with 92 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 112 $5,780,000 $51,607 $2,528 3.70%
    $100k-200k 107 $15,055,000 $140,701 $2,713 2.88%
    $200k-400k 31 $8,285,000 $267,258 $3,017 2.79%
    $400k-600k 3 $1,265,000 $421,667 $3,335 2.50%

    2020 saw Kalsee Credit Union place emphasis on $100,000 or less loans with 112 originations, totaling $5,780,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 73 $7,635,000 $104,589 $2,670 3.27%
    $50k or less 64 $5,740,000 $89,688 $2,741 3.50%
    $75k-100k 44 $5,760,000 $130,909 $2,683 3.25%
    $100k-150k 42 $5,970,000 $142,143 $2,848 2.73%
    $150k-250k 23 $3,885,000 $168,913 $2,885 3.13%
    $250k+ 3 $895,000 $298,333 $2,939 2.79%

    Kalsee Credit Union lent most frequently to those with incomes in the $50k-75k range, with 73 originations. The second most popular income band? $50k or less, with 64 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 73 $8,405,000 $115,137 $2,677 3.13%
    <20% 57 $5,365,000 $94,123 $2,667 3.31%
    30-36% 45 $6,485,000 $144,111 $2,792 2.94%
    40% 9 $1,285,000 $142,778 $2,688 3.07%
    >60% 8 $1,610,000 $201,250 $2,804 3.45%
    37% 7 $905,000 $129,286 $2,712 4.30%
    41% 7 $815,000 $116,429 $3,095 3.04%
    36% 7 $945,000 $135,000 $2,698 2.61%
    43% 5 $705,000 $141,000 $3,109 3.07%
    38% 5 $425,000 $85,000 $2,747 4.73%
    39% 5 $325,000 $65,000 $2,741 3.45%
    42% 5 $425,000 $85,000 $2,625 3.20%
    47% 5 $675,000 $135,000 $2,814 3.63%
    50-60% 3 $365,000 $121,667 $2,920 5.00%
    45% 3 $485,000 $161,667 $2,941 2.96%
    46% 2 $230,000 $115,000 $2,697 3.13%
    44% 2 $210,000 $105,000 $2,581 3.00%
    49% 2 $390,000 $195,000 $2,768 2.44%

    Kalsee Credit Union lent most frequently to those with DTI ratios of 20-30%, with 73 originations. The next most common DTI ratio? <20%, with 57 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 221 $25,925,000 $117,308 $2,742 3.32%
    Not provided 18 $2,510,000 $139,444 $2,730 2.78%
    Asian 4 $730,000 $182,500 $2,644 2.22%
    Asian Indian 2 $570,000 $285,000 $2,578 2.50%
    Black 7 $475,000 $67,857 $2,691 2.44%
    Filipino 1 $175,000 $175,000 $2,842 2.50%

    Approval Rates

    Total approvals of all applications
    93.43%

    Kalsee Credit Union has an average approval rate.

    Pick Rate

    Approvals leading to origination
    78.26%

    Kalsee Credit Union has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 253 $30,385,000 $120,099

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Single Family (1-4 Units):Manufactured 3 $295,000 $98,333
    Single Family (1-4 Units):Site-Built 250 $30,090,000 $120,360

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 35 $1,835,000 $52,429 $2,468 4.08%
    40-60% 48 $5,980,000 $124,583 $2,572 2.88%
    60-80% 75 $10,875,000 $145,000 $2,689 2.92%
    80-100% 60 $10,280,000 $171,333 $2,945 3.06%
    Under 20% 31 $825,000 $26,613 $0 3.89%