T&i Credit Union Mortgage Rates, Fees & Info

Clawson, MI

LEI: 549300S7TI0GLKSB4C78

Tax ID: 38-1506104

Latest/2023 | 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 Cash Out Refi and Refi loans. T&i Credit Union has a high proportion of conventional loans. Their top markets by origination volume include: Detroit, Ann Arbor, and Lansing among others. We have data for 4 markets. (Some data included below & more in-depth data is available with an active subscription.)

    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

    77

    Origination Dollar Volume (All Markets)

    $12,405,000

    Awards

    T&I Credit union 30 Year Conventional Loans gold T&I 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
    Detroit-Warren-Dearborn, MI (FHA|USDA|VA) 73 $12,075,000 $165,411 $943 3.17%
    ANN ARBOR, MI (FHA|USDA|VA) 1 $125,000 $125,000 $1,000 2.99%
    LANSING-EAST LANSING, MI (FHA|USDA|VA) 1 $105,000 $105,000 $1,000 2.99%
    Outside of Metro Areas 2 $100,000 $50,000 $1,000 2.99%
    T&i Credit Union's top markets include Detroit, Ann Arbor, 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 T&I Credit union based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.

    ADVANTAGE ONE Credit Union
    Similarity Rank: 287
    SECURITY CREDIT UNION
    Similarity Rank: 387
    St James Mortgage Corporation
    Similarity Rank: 408
    Polish-American Federal Credit Union
    Similarity Rank: 434
    BIRMINGHAM-BLOOMFIELD Credit Union
    Similarity Rank: 472
    T&I Credit union
    Similarity Rank: 660
    Preston Home Loans Inc
    Similarity Rank: 736
    NEW ENGLAND FEDERAL CREDIT UNION
    Similarity Rank: 1280
    Extra
    Similarity Rank: 1386
    Isabella Bank
    Similarity Rank: 1792

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 77 $12,405,000 $161,104 $946 3.16%

    For 2020, T&i Credit Union's most frequently originated type of loan was Conventional, with 77 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Cash Out Refi 50 $8,060,000 $161,200 $941 3.21%
    Refi 27 $4,345,000 $160,926 $957 3.06%

    For 2020, T&i Credit Union's most frequently cited loan purpose was Cash Out Refi, with 50 originations. The 2nd most popular reason was Refi, with 27 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 37 $6,885,000 $186,081 $938 3.38%
    15 Year 19 $2,835,000 $149,211 $968 3.01%
    20 Year 11 $1,535,000 $139,545 $924 3.02%
    10 Year 9 $945,000 $105,000 $957 2.72%
    Other 1 $205,000 $205,000 $1,000 3.35%

    For 2020, T&i Credit Union's most frequently cited loan duration was 30 Year, with 37 originations. The 2nd most popular length was 15 Year, with 19 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    3-4% 49 $8,265,000 $168,673
    2.5-3% 22 $3,500,000 $159,091
    <2.5% 6 $640,000 $106,667

    During 2020, T&i Credit Union's average interest rate for loans was 3.38%, while their most frequently originated rate bucket for loans was 3-4%, with 49 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100k-200k 29 $4,265,000 $147,069 $963 3.14%
    $100,000 or less 24 $1,790,000 $74,583 $946 3.04%
    $200k-400k 23 $5,925,000 $257,609 $923 3.31%
    $400k-600k 1 $425,000 $425,000 $1,000 2.99%

    2020 saw T&i Credit Union place emphasis on $100k-200k loans with 29 originations, totaling $4,265,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 20 $2,780,000 $139,000 $947 3.06%
    $100k-150k 18 $3,480,000 $193,333 $937 3.15%
    $50k or less 17 $1,755,000 $103,235 $960 3.29%
    $75k-100k 12 $1,920,000 $160,000 $968 3.14%
    $150k-250k 7 $1,695,000 $242,143 $866 3.25%
    $250k+ 3 $775,000 $258,333 $1,021 2.93%

    T&i Credit Union lent most frequently to those with incomes in the $50k-75k range, with 20 originations. The second most popular income band? $100k-150k, with 18 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 21 $3,685,000 $175,476 $963 2.96%
    30-36% 16 $2,800,000 $175,000 $927 3.28%
    <20% 12 $1,640,000 $136,667 $930 3.06%
    36% 6 $1,170,000 $195,000 $1,000 3.27%
    50-60% 3 $495,000 $165,000 $1,000 3.53%
    47% 3 $295,000 $98,333 $1,000 3.23%
    38% 2 $420,000 $210,000 $775 3.65%
    40% 2 $460,000 $230,000 $1,000 3.17%
    42% 2 $150,000 $75,000 $888 3.20%
    44% 2 $280,000 $140,000 $888 3.25%
    45% 2 $380,000 $190,000 $888 3.07%
    39% 2 $130,000 $65,000 $888 3.25%
    41% 1 $175,000 $175,000 $1,000 2.99%
    48% 1 $85,000 $85,000 $1,000 3.35%
    43% 1 $85,000 $85,000 $1,000 2.99%
    37% 1 $155,000 $155,000 $1,000 3.35%

    T&i Credit Union lent most frequently to those with DTI ratios of 20-30%, with 21 originations. The next most common DTI ratio? 30-36%, with 16 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 75 $12,235,000 $163,133 $945 3.16%
    Black 2 $170,000 $85,000 $1,000 3.17%

    Approval Rates

    Total approvals of all applications
    98.72%

    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 77 $12,405,000 $161,104

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Single Family (1-4 Units):Site-Built 77 $12,405,000 $161,104

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 14 $1,200,000 $85,714 $940 3.06%
    40-60% 30 $4,510,000 $150,333 $974 3.04%
    60-80% 29 $5,795,000 $199,828 $921 3.30%
    80-100% 3 $875,000 $291,667 $925 3.42%
    Under 20% 1 $25,000 $25,000 $1,000 2.99%