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 Cash Out Refi, Refi, and Home Purchase loans. Kalsee Credit Union has a high proportion of conventional loans. Their top markets by origination volume include: Kalamazoo, Battle Creek, Holland, Sturgis, and Lansing among others. We have data for 10 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.

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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

    272

    Origination Dollar Volume (All Markets)

    $32,840,000

    Awards

    KALSEE CREDIT UNION 30 Year Conventional Loans bronze KALSEE CREDIT UNION 30 Year Conventional Loans gold
    Show all (2) 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) 186 $22,370,000 $120,269 $2,855 3.17%
    Outside of Metro Areas 27 $3,085,000 $114,259 $2,868 2.81%
    BATTLE CREEK, MI (FHA|USDA|VA) 28 $2,490,000 $88,929 $2,691 3.04%
    Holland, MI (FHA|USDA|VA) 12 $1,520,000 $126,667 $2,760 3.52%
    Sturgis, MI (FHA|USDA|VA) 9 $1,315,000 $146,111 $2,986 2.90%
    LANSING-EAST LANSING, MI (FHA|USDA|VA) 4 $860,000 $215,000 $3,101 2.94%
    Coldwater, MI (FHA|USDA|VA) 3 $515,000 $171,667 $3,051 2.37%
    GRAND RAPIDS-KENTWOOD, MI (FHA|USDA|VA) 1 $305,000 $305,000 $3,469 3.50%
    NILES, MI (FHA|USDA|VA) 1 $205,000 $205,000 $2,982 2.50%
    JACKSON, MI (FHA|USDA|VA) 1 $175,000 $175,000 $3,245 3.50%
    Kalsee Credit Union's top markets include Kalamazoo, Battle Creek, Holland, Sturgis, and Lansing 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: 238
    KALSEE CREDIT UNION
    Similarity Rank: 430
    Pacor Mortgage Corp
    Similarity Rank: 792
    Southern Michigan Bank & Trust
    Similarity Rank: 1026
    OAK MORTGAGE, LLC
    Similarity Rank: 1100
    Kellogg Community Credit Union
    Similarity Rank: 1258
    SUMMIT HOME MORTGAGE, LLC
    Similarity Rank: 1612
    OMNI Community Credit Union
    Similarity Rank: 1824
    The Dart Bank
    Similarity Rank: 1827
    CONSUMERS
    Similarity Rank: 2016

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 224 $30,180,000 $134,732 $2,858 3.24%
    HELOC 48 $2,660,000 $55,417 n/a 2.51%

    For 2021, Kalsee Credit Union's most frequently originated type of loan was Conventional, with 224 originations. Their 2nd most popular type was HELOC, with 48 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Cash Out Refi 78 $10,510,000 $134,744 $2,913 3.17%
    Refi 69 $8,785,000 $127,319 $2,686 2.76%
    Home Purchase 59 $9,195,000 $155,847 $2,983 3.24%
    Home Improvement 41 $1,985,000 $48,415 $0 3.38%
    Other 25 $2,365,000 $94,600 $2,732 3.14%

    For 2021, Kalsee Credit Union's most frequently cited loan purpose was Cash Out Refi, with 78 originations. The 2nd most popular reason was Refi, with 69 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 118 $18,760,000 $158,983 $2,885 3.16%
    15 Year 64 $7,610,000 $118,906 $2,892 3.35%
    Other 52 $2,940,000 $56,538 $2,699 2.49%
    20 Year 19 $2,435,000 $128,158 $2,733 2.88%
    10 Year 18 $1,080,000 $60,000 $2,493 3.86%
    5 Year 1 $15,000 $15,000 $0 5.00%

    For 2021, Kalsee Credit Union's most frequently cited loan duration was 30 Year, with 118 originations. The 2nd most popular length was 15 Year, with 64 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 184 $27,650,000 $150,272
    $5k+ 1 $255,000 $255,000

    Kalsee Credit Union's average total fees were $2,885, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 184 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    <2.5% 84 $8,480,000 $100,952
    3-4% 83 $11,955,000 $144,036
    2.5-3% 68 $10,120,000 $148,824
    4-5% 17 $1,115,000 $65,588
    5-6% 14 $880,000 $62,857
    6-7% 5 $215,000 $43,000

    During 2021, Kalsee Credit Union's average interest rate for loans was 3.16%, while their most frequently originated rate bucket for loans was <2.5%, with 84 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100k-200k 117 $16,325,000 $139,530 $2,807 2.96%
    $100,000 or less 116 $6,430,000 $55,431 $2,674 3.30%
    $200k-400k 36 $8,730,000 $242,500 $3,213 3.03%
    $400k-600k 3 $1,355,000 $451,667 $3,336 2.79%

    2021 saw Kalsee Credit Union place emphasis on $100k-200k loans with 117 originations, totaling $16,325,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 81 $9,405,000 $116,111 $2,824 3.07%
    $50k or less 72 $6,640,000 $92,222 $2,759 3.13%
    $75k-100k 50 $6,380,000 $127,600 $2,851 3.21%
    $100k-150k 43 $5,405,000 $125,698 $2,888 3.12%
    $150k-250k 15 $2,815,000 $187,667 $3,462 2.95%
    $250k+ 3 $1,155,000 $385,000 $3,363 2.88%

    Kalsee Credit Union lent most frequently to those with incomes in the $50k-75k range, with 81 originations. The second most popular income band? $50k or less, with 72 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 65 $8,105,000 $124,692 $2,824 3.17%
    30-36% 58 $7,970,000 $137,414 $2,910 3.07%
    <20% 50 $4,910,000 $98,200 $2,861 3.01%
    39% 9 $965,000 $107,222 $3,018 3.59%
    40% 9 $1,045,000 $116,111 $2,952 3.21%
    36% 9 $1,245,000 $138,333 $2,802 3.28%
    37% 9 $785,000 $87,222 $2,644 3.19%
    41% 8 $980,000 $122,500 $2,806 3.00%
    >60% 7 $1,105,000 $157,857 $2,958 3.16%
    38% 7 $585,000 $83,571 $2,596 3.12%
    44% 6 $570,000 $95,000 $2,854 3.47%
    43% 6 $390,000 $65,000 $3,003 2.14%
    50-60% 6 $760,000 $126,667 $2,887 3.81%
    49% 5 $815,000 $163,000 $2,802 3.05%
    42% 4 $700,000 $175,000 $2,919 3.28%
    47% 3 $455,000 $151,667 $2,773 2.71%
    45% 2 $260,000 $130,000 $2,726 2.81%
    48% 1 $155,000 $155,000 $2,973 2.25%

    Kalsee Credit Union lent most frequently to those with DTI ratios of 20-30%, with 65 originations. The next most common DTI ratio? 30-36%, with 58 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 228 $26,660,000 $116,930 $2,836 3.14%
    Not provided 30 $4,620,000 $154,000 $2,963 2.84%
    Black 9 $935,000 $103,889 $2,985 3.29%
    Other Asian 1 $265,000 $265,000 $3,140 2.38%
    Asian 3 $255,000 $85,000 $2,414 3.92%
    American Indian 1 $105,000 $105,000 $2,958 3.00%

    Approval Rates

    Total approvals of all applications
    95.36%

    Kalsee Credit Union has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.

    Pick Rate

    Approvals leading to origination
    94.12%

    Kalsee Credit Union has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 272 $32,840,000 $120,735

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    272 $32,840,000 $120,735

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 35 $2,015,000 $57,571 $2,614 3.25%
    40-60% 52 $6,400,000 $123,077 $2,731 2.89%
    60-80% 91 $12,895,000 $141,703 $2,788 3.05%
    80-100% 61 $9,945,000 $163,033 $3,075 3.10%
    Over 100% 1 $35,000 $35,000 $0 6.25%
    Under 20% 26 $1,000,000 $38,462 $2,982 3.52%