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

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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, Ann Arbor, Lansing, Adrian, and Hillsdale among others. We have data for 6 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.

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    Originations

    393

    Origination Dollar Volume (All Markets)

    $46,025,000

    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) 295 $32,495,000 $110,153 $0 0.00%
    Outside of Metro Areas 57 $7,545,000 $132,368 $0 0.00%
    ANN ARBOR, MI (FHA|USDA|VA) 19 $3,805,000 $200,263 $0 0.00%
    LANSING-EAST LANSING, MI (FHA|USDA|VA) 20 $1,890,000 $94,500 $0 0.00%
    Adrian, MI (FHA|USDA|VA) 1 $185,000 $185,000 $0 0.00%
    Hillsdale, MI (FHA|USDA|VA) 1 $105,000 $105,000 $0 0.00%
    Cp Financial Credit Union's top markets include Jackson, Ann Arbor, Lansing, Adrian, and Hillsdale among others.

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

    • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 393 $46,025,000 $117,112 $0 0.00%

    For 2021, Cp Financial Credit Union's most frequently originated type of loan was Conventional, with 393 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Refi 124 $15,620,000 $125,968 $0 0.00%
    Home Purchase 88 $16,310,000 $185,341 $0 0.00%
    Home Improvement 80 $3,520,000 $44,000 $0 0.00%
    Cash Out Refi 63 $8,765,000 $139,127 $0 0.00%
    Other 38 $1,810,000 $47,632 $0 0.00%

    For 2021, Cp Financial Credit Union's most frequently cited loan purpose was Refi, with 124 originations. The 2nd most popular reason was Home Purchase, with 88 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 393 $46,025,000 $117,112 $0 0.00%

    For 2021, Cp Financial Credit Union's most frequently cited loan duration was Other, with 393 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 200 $10,850,000 $54,250 $0 0.00%
    $100k-200k 131 $18,215,000 $139,046 $0 0.00%
    $200k-400k 58 $14,940,000 $257,586 $0 0.00%
    $400k-600k 4 $2,020,000 $505,000 $0 0.00%

    2021 saw Cp Financial Credit Union place emphasis on $100,000 or less loans with 200 originations, totaling $10,850,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 117 $11,865,000 $101,410 $0 0.00%
    $100k-150k 92 $12,910,000 $140,326 $0 0.00%
    $50k or less 80 $6,580,000 $82,250 $0 0.00%
    $75k-100k 61 $7,135,000 $116,967 $0 0.00%
    $150k-250k 34 $5,800,000 $170,588 $0 0.00%
    $250k+ 6 $1,480,000 $246,667 $0 0.00%

    Cp Financial Credit Union lent most frequently to those with incomes in the $50k-75k range, with 117 originations. The second most popular income band? $100k-150k, with 92 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 393 $46,025,000 $117,112 $0 0.00%

    Cp Financial Credit Union lent most frequently to those with DTI ratios of Exempt%, with 393 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 370 $43,000,000 $116,216 $0 0.00%
    Not provided 10 $1,470,000 $147,000 $0 0.00%
    Black 10 $1,280,000 $128,000 $0 0.00%
    Filipino 1 $175,000 $175,000 $0 0.00%
    American Indian 1 $65,000 $65,000 $0 0.00%
    Asian 1 $35,000 $35,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    82.95%

    Cp Financial Credit Union has a below average approval rate.

    Pick Rate

    Approvals leading to origination
    73.03%

    Cp Financial Credit Union has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 393 $46,025,000 $117,112

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    393 $46,025,000 $117,112