Cp Financial Credit Union Mortgage Rates, Fees & Info
Jackson, MILEI: 549300VFL91481SLWI91
Tax ID: 38-1453620
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Mortgage Data
Review & Overview
Cp Financial Credit Union is a smaller credit union specializing in Home Purchase and Refi loans. Cp Financial Credit Union has a high proportion of conventional loans. They have a low ratio of USDA loans. Their top markets by origination volume include: Jackson, Ann Arbor, Lansing, Adrian, and Battle Creek among others. We have data for 13 markets. (Some data included below & more in-depth data is available with an active subscription.)Cp Financial Credit Union has an average approval rate when compared to the average across all lenders. They have a below average pick rate when compared to similar lenders.
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Originations
304Origination Dollar Volume (All Markets)
$28,830,000Top 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 |
|---|---|---|---|---|---|
| JACKSON, MI (FHA|USDA|VA) | 250 | $22,820,000 | $91,280 | $0 | 0.00% |
| ANN ARBOR, MI (FHA|USDA|VA) | 3 | $1,255,000 | $418,333 | $0 | 0.00% |
| Outside of Metro Areas | 23 | $1,185,000 | $51,522 | $0 | 0.00% |
| LANSING-EAST LANSING, MI (FHA|USDA|VA) | 15 | $1,165,000 | $77,667 | $0 | 0.00% |
| Adrian, MI (FHA|USDA|VA) | 3 | $755,000 | $251,667 | $0 | 0.00% |
| BATTLE CREEK, MI (FHA|USDA|VA) | 2 | $340,000 | $170,000 | $0 | 0.00% |
| Hillsdale, MI (FHA|USDA|VA) | 2 | $300,000 | $150,000 | $0 | 0.00% |
| Detroit-Warren-Dearborn, MI (FHA|USDA|VA) | 1 | $235,000 | $235,000 | $0 | 0.00% |
| KALAMAZOO-PORTAGE, MI (FHA|USDA|VA) | 1 | $225,000 | $225,000 | $0 | 0.00% |
| Holland, MI (FHA|USDA|VA) | 1 | $175,000 | $175,000 | $0 | 0.00% |
| Coldwater, MI (FHA|USDA|VA) | 1 | $165,000 | $165,000 | $0 | 0.00% |
| MONROE, MI (FHA|USDA|VA) | 1 | $125,000 | $125,000 | $0 | 0.00% |
| Ludington, MI (FHA|USDA|VA) | 1 | $85,000 | $85,000 | $0 | 0.00% |
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 303 | $28,685,000 | $94,670 | $0 | 0.00% |
| USDA | 1 | $145,000 | $145,000 | $0 | 0.00% |
For 2018, Cp Financial Credit Union's most frequently originated type of loan was Conventional, with 303 originations. Their 2nd most popular type was USDA, with 1 originations.
Loan Reason
For 2018, Cp Financial Credit Union's most frequently cited loan purpose was Home Purchase, with 92 originations. The 2nd most popular reason was Other, with 92 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Other | 304 | $28,830,000 | $94,836 | $0 | 0.00% |
For 2018, Cp Financial Credit Union's most frequently cited loan duration was Other, with 304 originations.
Loan Sizing
2018 saw Cp Financial Credit Union place emphasis on $100,000 or less loans with 193 originations, totaling $8,835,000 in origination value.
Applicant Income
Cp Financial Credit Union lent most frequently to those with incomes in the $50k-75k range, with 77 originations. The second most popular income band? $50k or less, with 70 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Exempt% | 304 | $28,830,000 | $94,836 | $0 | 0.00% |
Cp Financial Credit Union lent most frequently to those with DTI ratios of Exempt%, with 304 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications74.47%
Cp Financial Credit Union has a below average approval rate.
Pick Rate
Approvals leading to origination80.59%
Cp Financial Credit Union has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| Exempt | 304 | $28,830,000 | $94,836 |