Vibe Credit Union Mortgage Interest Rate and Cost Review

Is Vibe Credit Union a cheap or expensive mortgage lender? We compare the interest rates and closing costs charged by Vibe Credit Union with other lenders for comparable mortgages. Nationally, here is what we find:

Interest Ratesimilar to average (+0.03%)
Loan Related Closing Costslower than average (-$522)
National Rate and Closing Cost Rating(4.0)

On average, Vibe Credit Union’s interest rates were similar to those of other lenders (+0.03%) for a comparable set of borrowers. Its average total loan related closing cost was lower than those of other lenders, with a difference of -$522. Overall, combining interest rates and closing costs we estimate that Vibe Credit Union tends to be an average cost lender, and give it a National Rate and Closing Costs Rating of 4.0 out of 5.0 stars.

Vibe Credit Union’s Rates by Area

Mortgage lenders often set different rates in different geographical markets. In particular, among the markets we track Vibe Credit Union was most active in:

  1. Sterling Heights, MI
  2. Lansing, MI
  3. Ann Arbor, MI
  4. Grand Rapids, MI
  5. Mayville, MI

You can click through to check out Vibe Credit Union’s mortgage rate competitiveness by area. Or, for our data driven ranking of all the top mortgage lenders by area, click here.

Vibe Credit Union’s Rates by Mortgage Type

Mortgage lenders also tend to charge different interest rates and closing costs depending on the type of mortgage. In our data, Vibe Credit Union originated Conforming and FHA mortgages for new home purchases. It also originated Conforming mortgages for refinances. We breakdown its interest rate and total loan related closing cost difference relative to other lenders for comparable mortgages by type in the table below.

New Purchase MortgagesConformingFHA
Interest Rate Difference-0.15%-0.00%
Loan Related Closing Cost Difference+$39-$10
Cost Adjusted Rate Difference-0.16%-0.00%
Star Rating(4.5)(3.5)
Refinance MortgagesConforming
Interest Rate Difference+0.11%
Loan Related Closing Cost Difference-$767
Cost Adjusted Rate Difference-0.03%
Star Rating(3.5)

As a summary, Vibe Credit Union is cheap for Conforming purchase mortgages. It is similar to other lenders for FHA purchase mortgages. For refinancing mortgages, Vibe Credit Union is similar to other lenders for Conforming mortgage refinance. Nevertheless, individual circumstances can matter, and we always recommend shopping among several lenders in your area before signing.

Other information about Vibe Credit Union:

Registered name: Vibe Credit Union
Registered city and state: NOVI, MI, 48377
Regulator: National Credit Union Administration (NCUA)

* Source of the data is Federal Financial Institutions Examination Council (FFIEC) and is for mortgages originated in the past year. Our comparable mortgages analysis controls for Vibe Credit Union’s distribution of loan term (e.g. 30 year vs 15 year), loan-to-value (LTV), debt-to-income (DTI), loan amount, loan program (e.g. Conforming/FHA), loan purpose (e.g. purchase/refinance), and commuting zone. Cost adjusted rates were computed based on each percent of the loan amount in above average loan related closing costs being worth +0.15 of a percentage point in interest rate. Furthermore, the amounts are regularized using a Bayesian approach to control for small samples.