American 1 Credit Union Mortgage Rates, Fees & Info
Jackson, MILEI: 2549003PJRW71IW7BH70
Tax ID: 38-2323689
Latest/2024 | 2023 Data | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data
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Mortgage Data
Review & Overview
American 1 Credit Union is a smaller credit union specializing in Home Improvement loans. American 1 Credit Union has a high proportion of conventional loans. Their top markets by origination volume include: Jackson, Hillsdale, Detroit, Battle Creek, and Ann Arbor among others. We have data for 10 markets. (Some data included below & more in-depth data is available with an active subscription.)American 1 Credit Union 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.
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Originations
142Origination Dollar Volume (All Markets)
$6,830,000Top 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 |
|---|---|---|---|---|---|
| JACKSON, MI (FHA|USDA|VA) | 84 | $3,790,000 | $45,119 | $0 | 8.24% |
| Hillsdale, MI (FHA|USDA|VA) | 18 | $950,000 | $52,778 | $0 | 8.67% |
| Detroit-Warren-Dearborn, MI (FHA|USDA|VA) | 9 | $455,000 | $50,556 | $0 | 7.36% |
| BATTLE CREEK, MI (FHA|USDA|VA) | 9 | $425,000 | $47,222 | $0 | 8.83% |
| ANN ARBOR, MI (FHA|USDA|VA) | 5 | $375,000 | $75,000 | $0 | 7.90% |
| Adrian, MI (FHA|USDA|VA) | 8 | $270,000 | $33,750 | $0 | 8.66% |
| Coldwater, MI (FHA|USDA|VA) | 3 | $235,000 | $78,333 | $0 | 8.67% |
| MONROE, MI (FHA|USDA|VA) | 4 | $200,000 | $50,000 | $0 | 8.00% |
| LANSING-EAST LANSING, MI (FHA|USDA|VA) | 1 | $75,000 | $75,000 | $0 | 7.75% |
| FLINT, MI (FHA|USDA|VA) | 1 | $55,000 | $55,000 | $0 | 8.50% |
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 83 | $3,805,000 | $45,843 | $0 | 8.36% |
| HELOC | 59 | $3,025,000 | $51,271 | n/a | 8.19% |
For 2024, American 1 Credit Union's most frequently originated type of loan was Conventional, with 83 originations. Their 2nd most popular type was HELOC, with 59 originations.
Loan Reason
| Loan Reason | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Home Improvement | 142 | $6,830,000 | $48,099 | $0 | 8.29% |
For 2024, American 1 Credit Union's most frequently cited loan purpose was Home Improvement, with 142 originations.
Loan Duration/Length
For 2024, American 1 Credit Union's most frequently cited loan duration was Other, with 59 originations. The 2nd most popular length was 20 Year, with 42 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 7-8% | 71 | $3,285,000 | $46,268 |
| Over 8% | 68 | $3,430,000 | $50,441 |
| <2.5% | 3 | $115,000 | $38,333 |
During 2024, American 1 Credit Union's average interest rate for loans was 0.00%, while their most frequently originated rate bucket for loans was 7-8%, with 71 originations.
Loan Sizing
2024 saw American 1 Credit Union place emphasis on $100,000 or less loans with 134 originations, totaling $5,840,000 in origination value.
Applicant Income
| Applicant Income | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| $250k+ | 142 | $6,830,000 | $48,099 | $0 | 8.29% |
American 1 Credit Union lent most frequently to those with incomes in the $250k+ range, with 142 originations.
Applicant Debt to Income Ratio
American 1 Credit Union lent most frequently to those with DTI ratios of 20-30%, with 24 originations. The next most common DTI ratio? 30-36%, with 24 originations.
Ethnicity Mix
| Applicant Ethnicity | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| White | 89 | $4,095,000 | $46,011 | $0 | 8.44% |
| Not provided | 50 | $2,570,000 | $51,400 | $0 | 8.05% |
| Black | 3 | $165,000 | $55,000 | $0 | 7.92% |
Approval Rates
Total approvals of all applications74.44%
American 1 Credit Union has a below average approval rate.
Pick Rate
Approvals leading to origination71.83%
American 1 Credit Union has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 142 | $6,830,000 | $48,099 |