Elga Credit Union mortgage approval rate & lending review
Elga Credit Union decided 768 mortgage applications and funded 631 loans across the 616 counties Fat Boy Data covers, 2023–2025.
These are the decisions Elga Credit Union reported under the Home Mortgage Disclosure Act, not its advertised interest rates.
Elga Credit Union at a glance
Approval is 7.7 points above the 75.9% national rate for the same mix of loan types.
Approval rates by loan type
| Loan type | Approval | Approved | Taken up | Typical loan | Loans made |
|---|---|---|---|---|---|
| Mortgage lenders | 95% | 163 / 171 | 98% | $145K | 160 |
| Cash-out refinance | 81% | 242 / 299 | 99% | $105K | 239 |
| Refinance | 83% | 164 / 198 | 98% | $55K | 160 |
| Investment property purchase | 97% | 33 / 34 | 100% | $95K | 33 |
| Investment refinance | 80% | 20 / 25 | 100% | $75K | 20 |
Elga Credit Union lending by state
| State | Approval | Typical loan | Decided | Loans made |
|---|---|---|---|---|
| Michigan | 84% | $105K | 767 | 630 |
Fat Boy Data covers 616 counties, 79.6% of the US population, not every county in every state. States with fewer than 20 decisions are not listed.Methodology.
Where Elga Credit Union lends most
| County | Loan type | Approval | Decided | Loans made |
|---|---|---|---|---|
| Genesee County, MI | Cash-out refinance | 83% | 249 | 204 |
| Genesee County, MI | Refinance | 85% | 162 | 135 |
| Genesee County, MI | Mortgage lenders | 95% | 130 | 122 |
| Genesee County, MI | Investment property purchase | 96% | 24 | 23 |
| Genesee County, MI | Investment cash-out refinance | 75% | 20 | 15 |
| Saginaw County, MI | Cash-out refinance | 71% | 21 | 15 |
The county markets where Elga Credit Union made the most loans. Each link opens that market with every lender ranked.
Questions about Elga Credit Union
What is Elga Credit Union's mortgage approval rate?
Elga Credit Union approved 83.6% of the 768 mortgage applications it decided across the 616 counties Fat Boy Data covers, 2023–2025, 7.7 points above the 75.9% national rate for the same mix of loan types.
How often do borrowers take the loan Elga Credit Union offers?
Borrowers accepted 98% of the loans Elga Credit Union approved, against 94% for all cash-out refinance lenders nationally. A low take-up usually means the approved terms were not competitive.
What size loans does Elga Credit Union make?
The typical cash-out refinance loan Elga Credit Union made was $105K; across all loan types its typical loan ran from $55K to $145K. HMDA reports amounts in $10,000 brackets, so these are midpoints.
Where does Elga Credit Union lend?
Elga Credit Union decided applications in 2 of the states Fat Boy Data covers, most of them in Michigan and Florida.
Can I apply to Elga Credit Union directly?
Yes. Elga Credit Union is a bank or credit union with 15 branches in the FDIC and NCUA registries, and it takes mortgage applications directly.
Does this page show Elga Credit Union's interest rates?
No. HMDA filings record who applied, who was approved and how much was borrowed, not the rate offered. Use the approval rate and take-up here to judge how Elga Credit Union treats applications, then get a rate quote from the lender.