American 1 Credit Union Mortgage Rates, Fees & Info

Jackson, MI

LEI: 2549003PJRW71IW7BH70

Tax ID: 38-2323689

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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, Adrian, Ann Arbor, Hillsdale, and Battle Creek among others. We have data for 8 markets. (Some data included below & more in-depth data is available with an active subscription.)

American 1 Credit Union has a below 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

26

Origination Dollar Volume (All Markets)

$1,140,000

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
JACKSON, MI (FHA|USDA|VA) 11 $395,000 $35,909 $0 6.11%
Adrian, MI (FHA|USDA|VA) 3 $275,000 $91,667 $0 5.25%
ANN ARBOR, MI (FHA|USDA|VA) 3 $175,000 $58,333 $0 5.25%
Hillsdale, MI (FHA|USDA|VA) 3 $105,000 $35,000 $0 5.17%
BATTLE CREEK, MI (FHA|USDA|VA) 2 $70,000 $35,000 $0 8.38%
MONROE, MI (FHA|USDA|VA) 2 $70,000 $35,000 $0 5.00%
Detroit-Warren-Dearborn, MI (FHA|USDA|VA) 1 $35,000 $35,000 $0 5.75%
LANSING-EAST LANSING, MI (FHA|USDA|VA) 1 $15,000 $15,000 $0 7.50%
American 1 Credit Union's top markets include Jackson, Adrian, Ann Arbor, Hillsdale, and Battle Creek among others.

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

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 26 $1,140,000 $43,846 $0 5.93%

    For 2019, American 1 Credit Union's most frequently originated type of loan was Conventional, with 26 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Improvement 26 $1,140,000 $43,846 $0 5.93%

    For 2019, American 1 Credit Union's most frequently cited loan purpose was Home Improvement, with 26 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    15 Year 20 $960,000 $48,000 $0 5.21%
    10 Year 6 $180,000 $30,000 $0 8.33%

    For 2019, American 1 Credit Union's most frequently cited loan duration was 15 Year, with 20 originations. The 2nd most popular length was 10 Year, with 6 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    4-5% 14 $750,000 $53,571
    5-6% 6 $210,000 $35,000
    7-8% 4 $90,000 $22,500
    Over 8% 2 $90,000 $45,000

    During 2019, American 1 Credit Union's average interest rate for loans was 0.00%, while their most frequently originated rate bucket for loans was 4-5%, with 14 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 24 $850,000 $35,417 $0 6.01%
    $100k-200k 2 $290,000 $145,000 $0 5.00%

    2019 saw American 1 Credit Union place emphasis on $100,000 or less loans with 24 originations, totaling $850,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 8 $270,000 $33,750 $0 5.50%
    $100k-150k 6 $370,000 $61,667 $0 5.79%
    $75k-100k 6 $240,000 $40,000 $0 6.96%
    $50k or less 4 $80,000 $20,000 $0 5.94%
    $150k-250k 1 $75,000 $75,000 $0 5.00%
    $250k+ 1 $105,000 $105,000 $0 5.00%

    American 1 Credit Union lent most frequently to those with incomes in the $50k-75k range, with 8 originations. The second most popular income band? $100k-150k, with 6 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    30-36% 5 $175,000 $35,000 $0 5.15%
    20-30% 4 $200,000 $50,000 $0 5.19%
    36% 3 $105,000 $35,000 $0 6.67%
    50-60% 2 $90,000 $45,000 $0 5.00%
    37% 2 $30,000 $15,000 $0 7.50%
    48% 2 $130,000 $65,000 $0 5.38%
    49% 2 $80,000 $40,000 $0 5.38%
    42% 1 $25,000 $25,000 $0 5.75%
    43% 1 $15,000 $15,000 $0 5.00%
    45% 1 $45,000 $45,000 $0 11.00%
    39% 1 $45,000 $45,000 $0 9.00%
    40% 1 $15,000 $15,000 $0 5.50%
    41% 1 $185,000 $185,000 $0 5.00%

    American 1 Credit Union lent most frequently to those with DTI ratios of 30-36%, with 5 originations. The next most common DTI ratio? 20-30%, with 4 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 25 $1,105,000 $44,200 $0 5.94%
    Black 1 $35,000 $35,000 $0 5.75%

    Approval Rates

    Total approvals of all applications
    66.25%

    American 1 Credit Union has a low approval rate. They may have poor market targeting or stringent lending standards.

    Pick Rate

    Approvals leading to origination
    0.00%

    American 1 Credit Union has a low pick rate. They may have issues with closing loans or may approve everyone, but with onerous loan terms.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 26 $1,140,000 $43,846

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Single Family (1-4 Units):Site-Built 26 $1,140,000 $43,846

    Complaints

    Bank Name Product Issue 2019 CPFB Complaints % of Total Issues
    AMERICA FIRST FEDERAL CREDIT UNION Home equity loan or line of credit (HELOC) Trouble during payment process 1 100.0%