Champion Credit Union Mortgage Rates, Fees & Info

Canton, NC

LEI: 25490080ZZ98MNHU5R63

Tax ID: 56-0172675

Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data

Jump to:

  • SimulatedRates™
  • Mortgage Calculator

    • Mortgage Data

  • Originations
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • Similar Lenders
  • Loan Length
  • Loan to Value Info
  • Debt-to-Income
  • Applicant Income
  • Ethnicity Info
  • Approval & Pick Rates
  • Points and Fees
  • Origination Fees (Closing Costs)

    • Review & Overview

    Champion Credit Union is a smaller credit union specializing in Home Purchase loans. Champion Credit Union has a high proportion of conventional loans. They have a a low proportion of FHA loans. (This may mean they shy away from first time homebuyers.) They have a low ratio of USDA loans. Their top markets by origination volume include: Asheville, Cullowhee, Brevard, Marion, and Spartanburg among others. We have data for 9 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Champion Credit Union has an above average approval rate when compared to the average across all lenders. They have a below average pick rate when compared to similar lenders. Champion Credit Union is typically a low fee lender. (We use the term "fees" to include things like closing costs and other costs incurred by borrowers-- whether they are paid out of pocket or rolled into the loan.) They typically have about average rates.

    We show data for every lender and do not change our ratings-- even if an organization is a paid advertiser. Our consensus data does have lag, but it is highly correlated to a lender's rates & fees relative to their markets. This means that if a bank is a low fee/rate lender the past-- chances are they are still one today. Our SimulatedRates™ use advanced statistical techniques to forecast different rates based on a lender's historical data.

    Mortgage seekers: Choose your metro area here to explore the lowest fee & rate lenders.

    Mortgage professionals: We have various tools to make your lives easier. Contact us to see how we can help with your market research, analytics or advertising needs.

    SimulatedRates™

    Mortgage Type     		Simulated Rate Simulation Date
    30 Year Conventional Purchase 5.82% 4/18/24
    30 Year Conventional Refi 5.27% 4/18/24
    30 Year Cash-out Refi 5.51% 4/18/24
    30 Year FHA Purchase 6.27% 4/18/24
    15 Year Conventional Purchase 6.00% 4/18/24
    15 Year Conventional Refi 7.11% 4/18/24
    15 Year Cash-out Refi 7.11% 4/18/24
    These are simulated rates generated by our proprietary machine learning models. These are not guaranteed by the bank. They are our estimates based on a lender's past behaviors combined with current market conditions. Contact an individual lender for their actual rates. Our models use fixed rate terms for conforming loans, 700+ FICO, 10% down for FHA and 20% for conventional. These are based on consensus, historical data-- not advertised promotional rates.

    Champion Credit Union Mortgage Calculator






    Your Estimates

    Estimated Loan Payment: Update the calculator values and click calculate payment!

    This is not an official calculator from Champion Credit Union. It uses our SimulatedRate™ technology, basic math and reasonable assumptions to calculate mortgage payments derived from our simulations and your inputs.

    The default purchase price is the median sales price across the US for 2022Q4, per FRED.


    Originations

    309

    Origination Dollar Volume (All Markets)

    $51,595,000

    Awards

    Champion Credit Union 30 Year Conventional Loans gold Champion Credit Union 30 Year Conventional Loans silver
    Show all (2) awards

    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
    ASHEVILLE, NC (FHA|USDA|VA) 259 $43,915,000 $169,556 $3,829 4.60%
    Cullowhee, NC (FHA|USDA|VA) 31 $4,735,000 $152,742 $3,830 4.63%
    Outside of Metro Areas 8 $940,000 $117,500 $3,225 4.97%
    Brevard, NC (FHA|USDA|VA) 3 $645,000 $215,000 $0 4.63%
    Marion, NC (FHA|USDA|VA) 3 $635,000 $211,667 $3,800 4.50%
    SPARTANBURG, SC (FHA|USDA|VA) 1 $285,000 $285,000 $0 4.75%
    CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) 1 $185,000 $185,000 $0 4.75%
    Forest City, NC (FHA|USDA|VA) 2 $160,000 $80,000 $3,222 5.13%
    AUGUSTA-RICHMOND COUNTY, GA-SC (FHA|USDA|VA) 1 $95,000 $95,000 $0 4.50%
    Champion Credit Union's top markets include Asheville, Cullowhee, Brevard, Marion, and Spartanburg among others.

    Their top states include:
  • North Carolina (FHA|USDA|VA)
  • South Carolina (FHA|USDA|VA)
  • Florida (FHA|USDA|VA)
  • Georgia (FHA|USDA|VA)

    • Similar Lenders

    We use machine learning to identify the top lenders compared against Champion Credit Union based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.

    Champion Credit Union
    Similarity Rank: 423
    Telco Community Credit Union
    Similarity Rank: 572
    LOCAL GOVERNMENT FEDERAL CREDIT UNION
    Similarity Rank: 826
    STATE EMPLOYEES'
    Similarity Rank: 1275
    HOMESTAR FINANCIAL CORPORATION
    Similarity Rank: 1392
    First Horizon Bank
    Similarity Rank: 1408
    American Security Mortgage Corp.
    Similarity Rank: 2030
    Entegra Bank
    Similarity Rank: 2128
    HomeTrust Bank
    Similarity Rank: 2296
    First Bank
    Similarity Rank: 3102

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 301 $50,145,000 $166,595 $3,818 4.62%
    FHA 3 $615,000 $205,000 $3,428 4.54%
    VA 3 $515,000 $171,667 $3,100 4.17%
    USDA 2 $320,000 $160,000 $0 4.56%

    For 2018, Champion Credit Union's most frequently originated type of loan was Conventional, with 301 originations. Their 2nd most popular type was FHA, with 3 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 208 $36,590,000 $175,913 $3,960 4.56%
    Cash Out Refi 65 $9,665,000 $148,692 $3,620 4.89%
    Refi 36 $5,340,000 $148,333 $3,259 4.44%

    For 2018, Champion Credit Union's most frequently cited loan purpose was Home Purchase, with 208 originations. The 2nd most popular reason was Cash Out Refi, with 65 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 254 $45,460,000 $178,976 $3,870 4.43%
    15 Year 26 $2,860,000 $110,000 $3,500 5.34%
    Other 17 $2,025,000 $119,118 $3,574 5.75%
    20 Year 11 $1,205,000 $109,545 $3,813 5.39%
    10 Year 1 $45,000 $45,000 $2,316 4.75%

    For 2018, Champion Credit Union's most frequently cited loan duration was 30 Year, with 254 originations. The 2nd most popular length was 15 Year, with 26 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $1k-2k 132 $16,260,000 $123,182
    $2k-3k 101 $19,995,000 $197,970
    $<1k 46 $7,290,000 $158,478
    $3k-4k 23 $6,525,000 $283,696
    $5k+ 2 $600,000 $300,000

    Champion Credit Union's average total fees were $3,870, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 132 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    4-5% 217 $37,285,000 $171,820
    3-4% 53 $10,505,000 $198,208
    5-6% 27 $2,705,000 $100,185
    6-7% 12 $1,100,000 $91,667

    During 2018, Champion Credit Union's average interest rate for loans was 4.43%, while their most frequently originated rate bucket for loans was 4-5%, with 217 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100k-200k 176 $26,350,000 $149,716 $3,715 4.57%
    $200k-400k 85 $21,155,000 $248,882 $4,600 4.34%
    $100,000 or less 47 $3,685,000 $78,404 $3,161 5.27%
    $400k-600k 1 $405,000 $405,000 $0 4.75%

    2018 saw Champion Credit Union place emphasis on $100k-200k loans with 176 originations, totaling $26,350,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 104 $17,650,000 $169,712 $3,855 4.63%
    $50k or less 96 $12,240,000 $127,500 $3,433 4.65%
    $75k-100k 52 $9,950,000 $191,346 $4,326 4.66%
    $100k-150k 38 $7,330,000 $192,895 $3,860 4.59%
    $150k-250k 13 $2,925,000 $225,000 $3,857 4.27%
    $250k+ 6 $1,500,000 $250,000 $0 4.33%

    Champion Credit Union lent most frequently to those with incomes in the $50k-75k range, with 104 originations. The second most popular income band? $50k or less, with 96 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 83 $12,995,000 $156,566 $3,714 4.58%
    30-36% 81 $13,465,000 $166,235 $3,955 4.62%
    <20% 28 $4,700,000 $167,857 $3,188 4.73%
    39% 14 $2,570,000 $183,571 $4,096 4.64%
    37% 14 $2,390,000 $170,714 $3,976 4.72%
    42% 13 $2,085,000 $160,385 $3,278 4.32%
    40% 12 $1,920,000 $160,000 $3,831 4.82%
    41% 12 $2,610,000 $217,500 $4,493 4.57%
    36% 11 $2,295,000 $208,636 $3,856 4.56%
    43% 10 $1,670,000 $167,000 $4,847 4.82%
    38% 8 $1,270,000 $158,750 $5,507 4.72%
    45% 6 $960,000 $160,000 $4,170 4.69%
    46% 4 $640,000 $160,000 $2,783 4.41%
    48% 4 $550,000 $137,500 $3,259 4.44%
    44% 3 $335,000 $111,667 $0 4.79%
    49% 2 $530,000 $265,000 $0 4.25%
    >60% 2 $290,000 $145,000 $0 4.18%
    50-60% 1 $165,000 $165,000 $0 4.25%

    Champion Credit Union lent most frequently to those with DTI ratios of 20-30%, with 83 originations. The next most common DTI ratio? 30-36%, with 81 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 286 $47,230,000 $165,140 $3,807 4.61%
    Not provided 10 $1,750,000 $175,000 $3,630 4.38%
    Asian 6 $1,250,000 $208,333 $4,011 4.60%
    Black 4 $1,000,000 $250,000 $4,288 4.37%
    Native Hawaiian or Islander 1 $195,000 $195,000 $4,304 4.50%
    American Indian 2 $170,000 $85,000 $3,893 6.12%

    Approval Rates

    Total approvals of all applications
    96.24%

    Champion Credit Union has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.

    Pick Rate

    Approvals leading to origination
    29.13%

    Champion 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 309 $51,595,000 $166,974

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Single Family (1-4 Units):Manufactured 36 $3,470,000 $96,389
    Single Family (1-4 Units):Site-Built 273 $48,125,000 $176,282

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 6 $510,000 $85,000 $2,316 4.68%
    40-60% 29 $3,055,000 $105,345 $3,071 4.91%
    60-80% 88 $14,390,000 $163,523 $3,515 4.49%
    80-100% 163 $29,795,000 $182,791 $4,045 4.62%
    Over 100% 21 $3,545,000 $168,810 $4,122 4.71%