What loan types does Preferred Credit Union offer?

Preferred Credit Union offers the following mortgage loan types: Conventional. Each product has its own pricing score and performance metrics.

Where does Preferred Credit Union offer mortgages?

Preferred Credit Union offers mortgages in 1 states: MI.

How competitive are Preferred Credit Union's mortgage rates?

Preferred Credit Union has an overall pricing score of 75/100, based on analysis of their loan data including average spread and fees compared to market benchmarks.

What type of lender is Preferred Credit Union?

Preferred Credit Union is a Credit Union headquartered in Grand Rapids, MI.

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Preferred Credit Union

Credit Union•Grand Rapids, MIHQ•Direct•Reviews near you on Google

Preferred Credit Union has 27 closed loans in our dataset — fully analyzed and benchmarked against peers across the 5 Ps of Mortgage Shopping.

Ratings· each scored 1–5 against peer lenders

Pricing

Strong

4/5

vs. all lenders

Pull-through

Acceptable

2/5

closing strength

Product

Mediocre

1/5

Conventional

Place

Sound

3/5

Single State · 1 mkts

Promptness

Not enough data

—/5

No quote responses measured yet

Summary

What They Do Well

Competitive pricing compared to the market
Lower than average lender fees

Things to Think About

Pull through efficiency is below industry average

Explore another lender or local market

Report Card

Preferred Credit Union performance at a glance

Overall Performance· Pricing & closing strength

Pricing

Rate competitiveness

Strong

+17.5 bps above market avg

4/5

Pull Through

Closing strength

Acceptable

Bottom 40% of lenders

2/5

By Loan Product· Specialization by type

Conventional

26 loans · 0.14% above market

Mediocre

Bottom 20% of lenders

1/5

By Loan Purpose· Transaction purpose mix

Purchase

13 loans · 0.15% above market

Mediocre

Bottom 20% of lenders

1/5

Refinance

14 loans · 0.20% above market

Acceptable

Bottom 40% of lenders

2/5

By Location· Geographic coverage

Geographic Reach

Single State · 1 markets

Sound

Top 60% of lenders

3/5

Loan Product Performance

Performance by Loan Product

Loan Type	Overall	Product	Pricing	Pull Through	Volume	Mix	Spread	Fees
Conventional	Sound	Mediocre	Strong	Acceptable	26	96.3%	+0.145%Above	$655Fees

Conventional

Overall

Sound

Product

Mediocre

Pricing

Strong

Pull Through

Acceptable

Volume26

Mix96.3%

Spread

+0.145%Above

Fees

$655Fees

Loan Purpose Performance

Performance by Loan Purpose

Purpose	Overall	Product	Pricing	Pull Through	Volume	Mix	Spread	Fees
Purchase	Mediocre	Mediocre	—	Mediocre	13	48.1%	+0.148%Above	$806Fees
Refinance	Acceptable	Acceptable	—	Acceptable	14	51.9%	+0.204%Above	$622Fees

Purchase

Overall

Mediocre

Product

Mediocre

Pricing—

Pull Through

Mediocre

Volume13

Mix48.1%

Spread

+0.148%Above

Fees

$806Fees

Refinance

Overall

Acceptable

Product

Acceptable

Pricing—

Pull Through

Acceptable

Volume14

Mix51.9%

Spread

+0.204%Above

Fees

$622Fees

At a Glance

Lender Overview

Lending Activity

Loans Originated

Applications

Volume

$4 million

Pricing & Closing

Avg Rate Spread

+0.175%

vs. market APOR

Avg Net Fees

$718

Origination − Credits

Pullthrough Rate

48.2%

Applications → Closed

Typical Borrower

Avg Loan Amount

$171,296

Avg Borrower Income

$94,296

Avg Property Value

$308,077

Geographic Coverage

Geographic Performance

Metro Areas

markets with activity

States Served

of 50 states + DC

Avg Place Specialization

Sound

3/5

States with Loan Originations

1Full-year 2024 · HMDA

Loans originated

< 2020+None

Midwest1

Top Metro Areas by Place Specialization Score

Grand Rapids, MIMetro

Volume 19Mix 70.37% of portfolio

56/100

Sound

Top States by Place Specialization Score

MichiganState

Volume 27Mix 100.00% of portfolio

58/100

Sound

How We Rank Lenders

Our rankings use an equal-weight average of scores across the 5 Ps — Pricing, Product, Pull-Through, and Place — with lender promptness blending in as the fifth once a lender has responded to real shopper quote requests.

Our Point System (Max 50 Points)

10/ 50 pts

Pricing

How competitively a lender prices vs. the market benchmark (20%).

10/ 50 pts

Product

Performance on your specific loan type (20%).

10/ 50 pts

Pull Through

How reliably a lender closes the loans it starts (20%).

10/ 50 pts

Place

Depth of a lender's expertise in your local market (20%).

10/ 50 pts

Promptness

How quickly a lender answers real quote requests — blended in once they respond (20%).

Champion(80%+ = 40-50 points)

Superstar(60-79% = 30-39 points)

Data Integrity & Updates

Data is updated quarterly based on the latest HMDA filings and proprietary SafeRate analysis. All metrics are calculated using standardized methodologies to ensure fair comparison across lenders.

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The 5 PsRankings are calculated from observed lender differences on closed loans across Pricing, Pull-through, Product, and Place, plus Promptness when a lender has answered real shopper quote requests.

No Pay to PlayLenders cannot buy their way to the top. Rankings are 100% earned.

HMDA 2024Built using publicly available originated loan data from the federal government.

Peer BenchmarkedPerformance is normalized and benchmarked against peer institutions.