Memberfocus Community Mortgage Rates, Fees & Info

Dearborn, MI

LEI: 549300ZX2TCCVHMJN581

Tax ID: 38-0549595

5 stars - Updated: 11/11/24 - out of 5 stars, based on 23 reviews

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

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Mortgage Data

  • Originations
  • Relative Rates
  • Relative Fees
  • 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

    Memberfocus Community is a smaller mortgage company specializing in Other, Home Improvement, and Home Purchase loans. Memberfocus Community has a high proportion of conventional loans. Their top markets by origination volume include: Detroit, Flint, Ann Arbor, Lansing, and Jackson among others. We have data for 9 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Memberfocus Community has an above average approval rate when compared to the average across all lenders. They have a below average pick rate when compared to similar lenders. Memberfocus Community 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 relatively high 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.

    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

    509

    Origination Dollar Volume (All Markets)

    $42,815,000

    Awards

    MEMBERFOCUS COMMUNITY 30 Year Conventional Loans gold MEMBERFOCUS COMMUNITY 30 Year Conventional Loans silver MEMBERFOCUS COMMUNITY 30 Year Conventional Loans gold MEMBERFOCUS COMMUNITY 30 Year Conventional Loans gold
    Show all (4) awards

    Relative Rate

    Memberfocus Community's average 30 year fixed mortgage rate was 5.72%.

    The 2023 average 30 year fixed rate mortgage across all markets and lenders was 6.48%.

    This yields a difference of -0.76%.

    Relative Fees (Closing Costs)

    Memberfocus Community's average total fees/closing costs for a 30 year fixed rate mortgage were $3,177.

    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 $9,089.

    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) 451 $36,905,000 $81,829 $621 6.21%
    FLINT, MI (FHA|USDA|VA) 17 $2,105,000 $123,824 $2,538 5.84%
    Outside of Metro Areas 10 $970,000 $97,000 $1,587 6.11%
    ANN ARBOR, MI (FHA|USDA|VA) 9 $905,000 $100,556 $0 6.32%
    LANSING-EAST LANSING, MI (FHA|USDA|VA) 9 $535,000 $59,444 $927 6.25%
    JACKSON, MI (FHA|USDA|VA) 4 $460,000 $115,000 $2,747 5.28%
    MONROE, MI (FHA|USDA|VA) 4 $460,000 $115,000 $3,063 5.09%
    GRAND RAPIDS-KENTWOOD, MI (FHA|USDA|VA) 4 $270,000 $67,500 $0 6.25%
    Traverse City, MI (FHA|USDA|VA) 1 $205,000 $205,000 $0 6.50%
    Memberfocus Community's top markets include Detroit, Flint, Ann Arbor, Lansing, and Jackson among others.

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

    • Similar Lenders

    We use machine learning to identify the top lenders compared against MEMBERFOCUS COMMUNITY based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.

    Michigan Legacy Credit Union
    Similarity Rank: 15
    Polish-American Federal Credit Union
    Similarity Rank: 45
    Total Community Credit Union
    Similarity Rank: 94
    St James Mortgage Corporation
    Similarity Rank: 104
    MEMBERFOCUS COMMUNITY
    Similarity Rank: 162
    Dearborn Federal Savings Bank
    Similarity Rank: 184
    MICHIGAN SCHOOLS AND GOVERNMENT
    Similarity Rank: 414
    SECURITY CREDIT UNION
    Similarity Rank: 450
    ALLIANCE CATHOLIC CREDIT UNION
    Similarity Rank: 537
    Bank of Ann Arbor
    Similarity Rank: 738

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 266 $25,000,000 $93,985 $738 6.49%
    HELOC 243 $17,815,000 $73,313 n/a 5.85%

    For 2023, Memberfocus Community's most frequently originated type of loan was Conventional, with 266 originations. Their 2nd most popular type was HELOC, with 243 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Other 216 $14,020,000 $64,907 $0 6.37%
    Home Improvement 206 $14,250,000 $69,175 $172 6.12%
    Home Purchase 43 $9,835,000 $228,721 $3,431 5.88%
    Refi 30 $2,430,000 $81,000 $254 6.10%
    Cash Out Refi 14 $2,280,000 $162,857 $2,658 5.55%

    For 2023, Memberfocus Community's most frequently cited loan purpose was Other, with 216 originations. The 2nd most popular reason was Home Improvement, with 206 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 294 $19,540,000 $66,463 $0 5.85%
    20 Year 73 $5,745,000 $78,699 $0 7.16%
    30 Year 51 $12,415,000 $243,431 $3,177 5.72%
    10 Year 50 $2,550,000 $51,000 $73 6.60%
    15 Year 38 $2,390,000 $62,895 $67 6.97%
    5 Year 2 $50,000 $25,000 $0 5.88%
    1 Year 1 $125,000 $125,000 $0 8.25%

    For 2023, Memberfocus Community's most frequently cited loan duration was Other, with 294 originations. The 2nd most popular length was 20 Year, with 73 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 220 $20,860,000 $94,818
    $1k-2k 3 $685,000 $228,333
    $2k-3k 2 $550,000 $275,000
    $3k-4k 1 $325,000 $325,000
    $5k+ 1 $445,000 $445,000

    Memberfocus Community's average total fees were $3,177, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 220 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    6-7% 209 $15,655,000 $74,904
    5-6% 186 $15,640,000 $84,086
    7-8% 58 $4,730,000 $81,552
    4-5% 29 $4,675,000 $161,207
    Over 8% 16 $1,270,000 $79,375
    3-4% 8 $700,000 $87,500
    <2.5% 3 $145,000 $48,333

    During 2023, Memberfocus Community's average interest rate for loans was 5.72%, while their most frequently originated rate bucket for loans was 6-7%, with 209 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 380 $18,500,000 $48,684 $81 6.22%
    $100k-200k 83 $11,085,000 $133,554 $1,396 6.21%
    $200k-400k 41 $10,795,000 $263,293 $3,003 5.95%
    $400k-600k 4 $1,710,000 $427,500 $5,013 5.50%
    $600k-1MM 1 $725,000 $725,000 $3,183 4.88%

    2023 saw Memberfocus Community place emphasis on $100,000 or less loans with 380 originations, totaling $18,500,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 145 $12,925,000 $89,138 $780 6.25%
    $75k-100k 109 $8,085,000 $74,174 $634 6.05%
    $50k-75k 106 $6,970,000 $65,755 $734 6.30%
    $150k-250k 88 $9,870,000 $112,159 $687 6.21%
    $50k or less 39 $1,915,000 $49,103 $560 6.08%
    $250k+ 21 $2,905,000 $138,333 $1,823 6.07%

    Memberfocus Community lent most frequently to those with incomes in the $100k-150k range, with 145 originations. The second most popular income band? $75k-100k, with 109 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 109 $7,775,000 $71,330 $597 6.15%
    30-36% 108 $9,710,000 $89,907 $1,147 6.08%
    <20% 47 $3,745,000 $79,681 $701 6.01%
    43% 35 $3,205,000 $91,571 $169 6.25%
    44% 30 $1,750,000 $58,333 $0 6.37%
    41% 26 $2,170,000 $83,462 $1,058 5.87%
    42% 25 $1,915,000 $76,600 $790 6.36%
    39% 25 $2,825,000 $113,000 $551 6.07%
    38% 22 $2,020,000 $91,818 $697 6.45%
    45% 16 $1,810,000 $113,125 $743 6.82%
    40% 14 $1,180,000 $84,286 $1,072 6.49%
    37% 14 $890,000 $63,571 $0 6.48%
    36% 13 $1,365,000 $105,000 $1,415 6.04%
    46% 10 $870,000 $87,000 $494 6.45%
    47% 5 $435,000 $87,000 $0 6.22%
    50-60% 5 $285,000 $57,000 $0 6.05%
    >60% 3 $295,000 $98,333 $0 6.00%
    48% 1 $135,000 $135,000 $0 6.85%
    49% 1 $435,000 $435,000 $3,223 4.88%

    Memberfocus Community lent most frequently to those with DTI ratios of 20-30%, with 109 originations. The next most common DTI ratio? 30-36%, with 108 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 360 $31,070,000 $86,306 $764 6.17%
    Not provided 121 $9,835,000 $81,281 $890 6.12%
    Black 15 $895,000 $59,667 $0 6.68%
    Asian 6 $360,000 $60,000 $0 7.14%
    Other Asian 1 $255,000 $255,000 $0 6.85%
    Asian Indian 2 $210,000 $105,000 $0 5.75%
    American Indian 2 $120,000 $60,000 $0 6.38%
    Native Hawaiian or Islander 2 $70,000 $35,000 $0 6.78%

    Approval Rates

    Total approvals of all applications
    91.02%

    Memberfocus Community has an average approval rate.

    Pick Rate

    Approvals leading to origination
    76.42%

    Memberfocus Community has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 509 $42,815,000 $84,116

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    509 $42,815,000 $84,116

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 118 $10,520,000 $89,153 $196 6.34%
    40-60% 28 $4,200,000 $150,000 $1,148 6.44%
    60-80% 46 $9,580,000 $208,261 $2,626 5.82%
    80-100% 17 $4,615,000 $271,471 $3,391 5.84%
    Under 20% 300 $13,900,000 $46,333 $0 6.18%