Dfcu Financial Mortgage Rates, Fees & Info
Dearborn, MILEI: 549300W6K140RN8NQB93
Tax ID: 38-1350130
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Mortgage Data
Review & Overview
Dfcu Financial is a smaller credit union specializing in Home Improvement and Home Purchase loans. Dfcu Financial has a high proportion of conventional loans. Their top markets by origination volume include: Detroit, Tampa, Ann Arbor, Monroe, and Grand Rapids among others. We have data for 40 markets. (Some data included below & more in-depth data is available with an active subscription.)Dfcu Financial 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. Dfcu Financial 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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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| Home Equity Line of Credit (HELOC) | 6.72% | 4/5/25 |
| 30 Year Conventional Purchase | 7.02% | 4/5/25 |
| 30 Year Conventional Refi | 7.10% | 4/5/25 |
| 30 Year Cash-out Refi | 7.03% | 4/5/25 |
| 15 Year Conventional Purchase | 6.22% | 4/5/25 |
| 15 Year Conventional Refi | 7.64% | 4/5/25 |
| 15 Year Cash-out Refi | 7.64% | 4/5/25 |
| These are simulated rates generated by our proprietary machine learning models. These are not guaranteed by the bank. They are our estimates based on a lender's past behaviors combined with current market conditions. Contact an individual lender for their actual rates. Our models use fixed rate terms for conforming loans, 700+ FICO, 10% down for FHA and 20% for conventional. These are based on consensus, historical data-- not advertised promotional rates. | ||
Dfcu Financial Mortgage Calculator
Your Estimates
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This is not an official calculator from Dfcu Financial. It uses our SimulatedRate™
technology, basic math and reasonable assumptions to calculate mortgage payments derived from our simulations and your inputs.
The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
2,759Origination Dollar Volume (All Markets)
$449,565,000Awards
DFCU FINANCIAL - 2024
DFCU FINANCIAL is a 2024 , due to their low .
For 2024, less than of lenders were eligible for this award.
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Relative Rate
Dfcu Financial's average 30 year fixed mortgage rate was
7.06%.
The 2024 average 30 year fixed rate mortgage across all markets and lenders was 6.55%.
This yields a difference of 0.51%.
Relative Fees (Closing Costs)
Dfcu Financial's average total fees/closing costs for a 30 year fixed rate
mortgage were $5,245.
The average total origination fees for 30 year fixed rate mortgages across all lenders (for all loan values, including
both points & up-front fees in addition to origination fees) were $8,356.
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) | 1,985 | $269,105,000 | $135,569 | $2,839 | 7.25% |
| TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) | 161 | $69,845,000 | $433,820 | $10,056 | 7.14% |
| ANN ARBOR, MI (FHA|USDA|VA) | 190 | $31,600,000 | $166,316 | $3,007 | 7.12% |
| MONROE, MI (FHA|USDA|VA) | 66 | $13,150,000 | $199,242 | $4,524 | 7.25% |
| Outside of Metro Areas | 62 | $10,360,000 | $167,097 | $4,406 | 7.05% |
| GRAND RAPIDS-KENTWOOD, MI (FHA|USDA|VA) | 112 | $9,830,000 | $87,768 | $2,235 | 7.16% |
| North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) | 16 | $8,230,000 | $514,375 | $7,901 | 7.32% |
| LANSING-EAST LANSING, MI (FHA|USDA|VA) | 54 | $6,120,000 | $113,333 | $3,433 | 6.71% |
| Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) | 5 | $3,545,000 | $709,000 | $16,172 | 6.97% |
| NAPLES-MARCO ISLAND, FL (FHA|USDA|VA) | 6 | $3,290,000 | $548,333 | $8,692 | 7.12% |
| ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) | 5 | $3,115,000 | $623,000 | $8,728 | 6.40% |
| FLINT, MI (FHA|USDA|VA) | 12 | $2,090,000 | $174,167 | $5,008 | 6.90% |
| Adrian, MI (FHA|USDA|VA) | 15 | $1,815,000 | $121,000 | $2,103 | 7.29% |
| CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) | 9 | $1,765,000 | $196,111 | $266 | 7.38% |
| JACKSONVILLE, FL (FHA|USDA|VA) | 2 | $1,730,000 | $865,000 | $10,676 | 6.69% |
| JACKSON, MI (FHA|USDA|VA) | 10 | $1,690,000 | $169,000 | $2,654 | 7.15% |
| Traverse City, MI (FHA|USDA|VA) | 7 | $1,565,000 | $223,571 | $7,545 | 6.96% |
| PENSACOLA-FERRY PASS-BRENT, FL (FHA|USDA|VA) | 2 | $1,520,000 | $760,000 | $7,932 | 6.81% |
| LAKELAND-WINTER HAVEN, FL (FHA|USDA|VA) | 3 | $1,045,000 | $348,333 | $6,457 | 6.62% |
| DELTONA-DAYTONA BEACH-ORMOND BEACH, FL (FHA|USDA|VA) | 1 | $1,005,000 | $1,005,000 | $0 | 9.00% |
| PUNTA GORDA, FL (FHA|USDA|VA) | 3 | $915,000 | $305,000 | $9,185 | 6.75% |
| Hillsdale, MI (FHA|USDA|VA) | 4 | $800,000 | $200,000 | $3,715 | 6.37% |
| OCALA, FL (FHA|USDA|VA) | 2 | $670,000 | $335,000 | $5,154 | 6.81% |
| SOUTH BEND-MISHAWAKA, IN-MI (FHA|USDA|VA) | 3 | $605,000 | $201,667 | $4,048 | 6.08% |
| PORT ST. LUCIE, FL (FHA|USDA|VA) | 1 | $585,000 | $585,000 | $8,147 | 6.63% |
| MUSKEGON, MI (FHA|USDA|VA) | 4 | $560,000 | $140,000 | $8,606 | 6.84% |
| KALAMAZOO-PORTAGE, MI (FHA|USDA|VA) | 2 | $540,000 | $270,000 | $5,122 | 6.81% |
| Holland, MI (FHA|USDA|VA) | 4 | $500,000 | $125,000 | $0 | 8.06% |
| Big Rapids, MI (FHA|USDA|VA) | 2 | $390,000 | $195,000 | $8,288 | 7.88% |
| CRESTVIEW-FORT WALTON BEACH-DESTIN, FL (FHA|USDA|VA) | 1 | $315,000 | $315,000 | $5,476 | 6.38% |
| Key West, FL (FHA|USDA|VA) | 1 | $305,000 | $305,000 | $0 | 5.99% |
| HOMOSASSA SPRINGS, FL (FHA|USDA|VA) | 1 | $245,000 | $245,000 | $4,207 | 6.38% |
| Alpena, MI (FHA|USDA|VA) | 1 | $205,000 | $205,000 | $2,924 | 6.88% |
| Cadillac, MI (FHA|USDA|VA) | 1 | $105,000 | $105,000 | $3,242 | 6.63% |
| NILES, MI (FHA|USDA|VA) | 1 | $105,000 | $105,000 | $0 | 5.99% |
| Houghton, MI (FHA|USDA|VA) | 1 | $105,000 | $105,000 | $3,465 | 6.50% |
| SAGINAW, MI (FHA|USDA|VA) | 1 | $95,000 | $95,000 | $3,355 | 6.50% |
| Mount Pleasant, MI (FHA|USDA|VA) | 1 | $45,000 | $45,000 | $0 | 11.50% |
| BATTLE CREEK, MI (FHA|USDA|VA) | 1 | $35,000 | $35,000 | $0 | 9.25% |
| Sault Ste. Marie, MI (FHA|USDA|VA) | 1 | $25,000 | $25,000 | $0 | 5.99% |
Similar Lenders
We use machine learning to identify the top lenders compared against DFCU FINANCIAL based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.
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Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| HELOC | 1,612 | $193,050,000 | $119,758 | n/a | 7.42% |
| Conventional | 1,147 | $256,515,000 | $223,640 | $3,460 | 6.91% |
For 2024, Dfcu Financial's most frequently originated type of loan was HELOC, with 1,612 originations. Their 2nd most popular type was Conventional, with 1,147 originations.
Loan Reason
For 2024, Dfcu Financial's most frequently cited loan purpose was Home Improvement, with 971 originations. The 2nd most popular reason was Other, with 693 originations.
Loan Duration/Length
For 2024, Dfcu Financial's most frequently cited loan duration was 30 Year, with 2,063 originations. The 2nd most popular length was 5 Year, with 293 originations.
Origination Fees/Closing Costs
Dfcu Financial's average total fees were $5,245, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 488 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 5-6% | 943 | $119,875,000 | $127,121 |
| 6-7% | 752 | $203,510,000 | $270,625 |
| Over 8% | 690 | $80,080,000 | $116,058 |
| 7-8% | 374 | $46,100,000 | $123,262 |
During 2024, Dfcu Financial's average interest rate for loans was 7.06%, while their most frequently originated rate bucket for loans was 5-6%, with 943 originations.
Loan Sizing
2024 saw Dfcu Financial place emphasis on $100,000 or less loans with 1,359 originations, totaling $70,155,000 in origination value.
Applicant Income
Dfcu Financial lent most frequently to those with incomes in the $100k-150k range, with 710 originations. The second most popular income band? $50k-75k, with 518 originations.
Applicant Debt to Income Ratio
Dfcu Financial lent most frequently to those with DTI ratios of 20-30%, with 573 originations. The next most common DTI ratio? 30-36%, with 464 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications85.77%
Dfcu Financial has an average approval rate.
Pick Rate
Approvals leading to origination68.83%
Dfcu Financial has a low pick rate. They may have issues with closing loans or may approve everyone, but with onerous loan terms.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 2,759 | $449,565,000 | $162,945 |