Cp Financial Credit Union Mortgage Rates, Fees & Info

Jackson, MI

LEI: 549300VFL91481SLWI91

Tax ID: 38-1453620

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

Jump to:

Mortgage Data

  • Originations
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • 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

    Cp Financial Credit Union is a smaller credit union specializing in Refi and Home Purchase loans. Cp Financial Credit Union has a high proportion of conventional loans. Their top markets by origination volume include: Jackson, Lansing, Ann Arbor, and Adrian among others. We have data for 5 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.

    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.

    Mortgage professionals: We have various tools to make your lives easier. Contact us to see how we can help with your market research, analytics or advertising needs.


    Originations

    397

    Origination Dollar Volume (All Markets)

    $44,565,000

    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
    JACKSON, MI (FHA|USDA|VA) 318 $33,770,000 $106,195 $0 0.00%
    Outside of Metro Areas 57 $7,435,000 $130,439 $0 0.00%
    LANSING-EAST LANSING, MI (FHA|USDA|VA) 17 $2,405,000 $141,471 $0 0.00%
    ANN ARBOR, MI (FHA|USDA|VA) 4 $750,000 $187,500 $0 0.00%
    Adrian, MI (FHA|USDA|VA) 1 $205,000 $205,000 $0 0.00%
    Cp Financial Credit Union's top markets include Jackson, Lansing, Ann Arbor, and Adrian among others.

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

    • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 349 $42,725,000 $122,421 $0 0.00%
    HELOC 48 $1,840,000 $38,333 n/a 0.00%

    For 2020, Cp Financial Credit Union's most frequently originated type of loan was Conventional, with 349 originations. Their 2nd most popular type was HELOC, with 48 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Refi 201 $27,085,000 $134,751 $0 0.00%
    Home Purchase 85 $11,965,000 $140,765 $0 0.00%
    Home Improvement 69 $3,435,000 $49,783 $0 0.00%
    Other 42 $2,080,000 $49,524 $0 0.00%

    For 2020, Cp Financial Credit Union's most frequently cited loan purpose was Refi, with 201 originations. The 2nd most popular reason was Home Purchase, with 85 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 397 $44,565,000 $112,254 $0 0.00%

    For 2020, Cp Financial Credit Union's most frequently cited loan duration was Other, with 397 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 199 $10,725,000 $53,894 $0 0.00%
    $100k-200k 147 $20,825,000 $141,667 $0 0.00%
    $200k-400k 49 $12,135,000 $247,653 $0 0.00%
    $400k-600k 2 $880,000 $440,000 $0 0.00%

    2020 saw Cp Financial Credit Union place emphasis on $100,000 or less loans with 199 originations, totaling $10,725,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 109 $10,845,000 $99,495 $0 0.00%
    $100k-150k 90 $11,050,000 $122,778 $0 0.00%
    $75k-100k 72 $8,630,000 $119,861 $0 0.00%
    $50k or less 70 $5,510,000 $78,714 $0 0.00%
    $150k-250k 46 $6,530,000 $141,957 $0 0.00%
    $250k+ 7 $1,705,000 $243,571 $0 0.00%

    Cp Financial Credit Union lent most frequently to those with incomes in the $50k-75k range, with 109 originations. The second most popular income band? $100k-150k, with 90 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 397 $44,565,000 $112,254 $0 0.00%

    Cp Financial Credit Union lent most frequently to those with DTI ratios of Exempt%, with 397 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 381 $42,705,000 $112,087 $0 0.00%
    Black 10 $1,240,000 $124,000 $0 0.00%
    American Indian 2 $310,000 $155,000 $0 0.00%
    Not provided 2 $140,000 $70,000 $0 0.00%
    Native Hawaiian or Islander 1 $115,000 $115,000 $0 0.00%
    Asian 1 $55,000 $55,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    78.16%

    Cp Financial Credit Union has a below average approval rate.

    Pick Rate

    Approvals leading to origination
    71.54%

    Cp Financial Credit Union has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 397 $44,565,000 $112,254

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Single Family (1-4 Units):Site-Built 397 $44,565,000 $112,254