T&i Credit Union Mortgage Rates, Fees & Info

Clawson, MI

LEI: 549300S7TI0GLKSB4C78

Tax ID: 38-1506104

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

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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

    T&i Credit Union is a smaller credit union specializing in Refi and Cash Out Refi loans. T&i Credit Union has a high proportion of conventional loans.

    T&i Credit Union has an above average approval rate when compared to the average across all lenders. T&i 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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    Originations

    79

    Origination Dollar Volume (All Markets)

    $13,555,000

    Awards

    T&I Credit union 30 Year Conventional Loans gold T&I Credit union 30 Year Conventional Loans gold T&I Credit union 30 Year Conventional Loans gold T&I Credit union 30 Year Conventional Loans gold
    Show all (4) awards

    Top Markets

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    Market Originations Total Value Average Loan Average Fees Average Rate
    Outside of Metro Areas 79 $13,555,000 $171,582 $576 3.81%
    T&i Credit Union's top markets include

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

    • Similar Lenders

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

    BIRMINGHAM-BLOOMFIELD Credit Union
    Similarity Rank: 159
    Dort Financial Credit Union
    Similarity Rank: 222
    Polish-American Federal Credit Union
    Similarity Rank: 297
    ADVANTAGE ONE Credit Union
    Similarity Rank: 320
    NEW ENGLAND FEDERAL CREDIT UNION
    Similarity Rank: 448
    Extra
    Similarity Rank: 572
    FreeStar Financial Credit Union
    Similarity Rank: 612
    UNIVERSITY OF MICHIGAN CREDIT UNION
    Similarity Rank: 935
    Zeal Credit Union
    Similarity Rank: 936
    COMMUNITY FINANCIAL CREDIT UNION
    Similarity Rank: 1100

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 79 $13,555,000 $171,582 $576 3.81%

    For 2019, T&i Credit Union's most frequently originated type of loan was Conventional, with 79 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Refi 45 $7,595,000 $168,778 $417 3.67%
    Cash Out Refi 34 $5,960,000 $175,294 $778 3.99%

    For 2019, T&i Credit Union's most frequently cited loan purpose was Refi, with 45 originations. The 2nd most popular reason was Cash Out Refi, with 34 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 49 $9,275,000 $189,286 $575 3.94%
    15 Year 12 $1,490,000 $124,167 $449 3.60%
    20 Year 9 $1,815,000 $201,667 $702 3.72%
    Other 5 $595,000 $119,000 $310 3.89%
    10 Year 3 $335,000 $111,667 $999 2.55%
    5 Year 1 $45,000 $45,000 $1,065 4.00%

    For 2019, T&i Credit Union's most frequently cited loan duration was 30 Year, with 49 originations. The 2nd most popular length was 15 Year, with 12 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    3-4% 47 $7,495,000 $159,468
    4-5% 25 $5,105,000 $204,200
    2.5-3% 5 $775,000 $155,000
    <2.5% 2 $180,000 $90,000

    During 2019, T&i Credit Union's average interest rate for loans was 3.94%, while their most frequently originated rate bucket for loans was 3-4%, with 47 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100k-200k 38 $5,500,000 $144,737 $522 3.77%
    $200k-400k 21 $5,905,000 $281,190 $570 3.92%
    $100,000 or less 18 $1,300,000 $72,222 $670 3.62%
    $400k-600k 2 $850,000 $425,000 $775 5.00%

    2019 saw T&i Credit Union place emphasis on $100k-200k loans with 38 originations, totaling $5,500,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 21 $4,585,000 $218,333 $550 3.85%
    $50k or less 17 $1,935,000 $113,824 $678 3.81%
    $75k-100k 17 $2,515,000 $147,941 $584 3.76%
    $50k-75k 16 $2,300,000 $143,750 $392 3.83%
    $150k-250k 8 $2,220,000 $277,500 $770 3.73%

    T&i Credit Union lent most frequently to those with incomes in the $100k-150k range, with 21 originations. The second most popular income band? $50k or less, with 17 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 33 $4,955,000 $150,152 $626 3.72%
    <20% 9 $915,000 $101,667 $505 3.48%
    38% 6 $1,530,000 $255,000 $646 4.13%
    30-36% 5 $845,000 $169,000 $465 4.02%
    41% 4 $860,000 $215,000 $943 3.37%
    40% 4 $820,000 $205,000 $194 4.00%
    39% 3 $675,000 $225,000 $258 4.11%
    42% 3 $1,015,000 $338,333 $517 4.78%
    36% 2 $570,000 $285,000 $775 4.13%
    44% 2 $290,000 $145,000 $388 3.99%
    37% 2 $180,000 $90,000 $0 3.43%
    >60% 2 $380,000 $190,000 $775 4.04%
    46% 1 $135,000 $135,000 $1,065 3.65%
    47% 1 $115,000 $115,000 $775 3.65%
    49% 1 $145,000 $145,000 $999 3.56%
    43% 1 $125,000 $125,000 $775 3.65%

    T&i Credit Union lent most frequently to those with DTI ratios of 20-30%, with 33 originations. The next most common DTI ratio? <20%, with 9 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 71 $12,215,000 $172,042 $576 3.81%
    Asian 5 $1,095,000 $219,000 $599 3.60%
    Black 3 $245,000 $81,667 $533 4.17%

    Approval Rates

    Total approvals of all applications
    96.34%

    T&i 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

    Points and Fees

    Points Originations Total Value Average Loan
    NA 79 $13,555,000 $171,582

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Single Family (1-4 Units):Site-Built 79 $13,555,000 $171,582

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 10 $850,000 $85,000 $821 3.46%
    40-60% 22 $3,520,000 $160,000 $686 3.47%
    60-80% 36 $6,260,000 $173,889 $479 3.91%
    80-100% 11 $2,925,000 $265,909 $465 4.44%