Alatrust Credit Union Mortgage Rates, Fees & Info
Hoover, ALLEI: 2549009IIR21WKPEE762
Tax ID: 63-0021787
Latest/2024 | 2023 Data | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data
Jump to:
Mortgage Data
Review & Overview
Alatrust Credit Union is a smaller credit union specializing in Refi and Home Purchase loans. Alatrust 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: Birmingham, Anniston, Jasper, Talladega, and Daphne among others. We have data for 9 markets. (Some data included below & more in-depth data is available with an active subscription.)Alatrust 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. Alatrust 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 |
|---|---|---|
| Home Equity Line of Credit (HELOC) | 6.72% | 4/5/25 |
| 30 Year Conventional Purchase | 7.06% | 4/5/25 |
| 30 Year Conventional Refi | 6.72% | 4/5/25 |
| 30 Year Cash-out Refi | 6.72% | 4/5/25 |
| 30 Year USDA Purchase | 6.72% | 4/5/25 |
| 15 Year Conventional Refi | 6.97% | 4/5/25 |
| 15 Year Cash-out Refi | 6.97% | 4/5/25 |
| 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. | ||
Alatrust Credit Union Mortgage Calculator
Your Estimates
Estimated Loan Payment: Update the calculator values and click calculate payment!
This is not an official calculator from Alatrust 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
85Origination Dollar Volume (All Markets)
$10,285,000Relative Rate
Alatrust Credit Union's average 30 year fixed mortgage rate was
6.98%.
The 2024 average 30 year fixed rate mortgage across all markets and lenders was 6.55%.
This yields a difference of 0.43%.
Relative Fees (Closing Costs)
Alatrust Credit Union's average total fees/closing costs for a 30 year fixed rate
mortgage were $4,418.
The average total origination fees for 30 year fixed rate mortgages across all lenders (for all loan values, including
both points & up-front fees in addition to origination fees) were $8,356.
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 |
|---|---|---|---|---|---|
| BIRMINGHAM-HOOVER, AL (FHA|USDA|VA) | 31 | $5,025,000 | $162,097 | $1,925 | 7.35% |
| ANNISTON-OXFORD, AL (FHA|USDA|VA) | 30 | $2,100,000 | $70,000 | $2,483 | 6.68% |
| Jasper, AL (FHA|USDA|VA) | 8 | $1,200,000 | $150,000 | $3,902 | 7.67% |
| Talladega-Sylacauga, AL (FHA|USDA|VA) | 5 | $715,000 | $143,000 | $5,080 | 6.90% |
| Outside of Metro Areas | 5 | $565,000 | $113,000 | $2,746 | 7.33% |
| DAPHNE-FAIRHOPE-FOLEY, AL (FHA|USDA|VA) | 1 | $275,000 | $275,000 | $3,507 | 5.75% |
| GADSDEN, AL (FHA|USDA|VA) | 3 | $165,000 | $55,000 | $0 | 4.99% |
| DECATUR, AL (FHA|USDA|VA) | 1 | $135,000 | $135,000 | $0 | 7.50% |
| Albertville, AL (FHA|USDA|VA) | 1 | $105,000 | $105,000 | $1,553 | 7.75% |
Product Mix
For 2024, Alatrust Credit Union's most frequently originated type of loan was HELOC, with 51 originations. Their 2nd most popular type was Conventional, with 31 originations.
Loan Reason
For 2024, Alatrust Credit Union's most frequently cited loan purpose was Refi, with 25 originations. The 2nd most popular reason was Other, with 22 originations.
Loan Duration/Length
For 2024, Alatrust Credit Union's most frequently cited loan duration was 30 Year, with 51 originations. The 2nd most popular length was Other, with 19 originations.
Origination Fees/Closing Costs
| Origination Fee/Closing Cost | Originations | Total Value | Average Loan |
|---|---|---|---|
| $1k-2k | 20 | $2,450,000 | $122,500 |
| $<1k | 2 | $180,000 | $90,000 |
| $2k-3k | 1 | $135,000 | $135,000 |
| $4k-5k | 1 | $425,000 | $425,000 |
Alatrust Credit Union's average total fees were $4,418, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 20 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 4-5% | 21 | $1,715,000 | $81,667 |
| Over 8% | 21 | $1,455,000 | $69,286 |
| 6-7% | 11 | $1,175,000 | $106,818 |
| 7-8% | 8 | $620,000 | $77,500 |
| 5-6% | 5 | $1,475,000 | $295,000 |
During 2024, Alatrust Credit Union's average interest rate for loans was 6.98%, while their most frequently originated rate bucket for loans was 4-5%, with 21 originations.
Loan Sizing
2024 saw Alatrust Credit Union place emphasis on $100,000 or less loans with 58 originations, totaling $3,240,000 in origination value.
Applicant Income
Alatrust Credit Union lent most frequently to those with incomes in the $100k-150k range, with 24 originations. The second most popular income band? $150k-250k, with 18 originations.
Applicant Debt to Income Ratio
Alatrust Credit Union lent most frequently to those with DTI ratios of 20-30%, with 15 originations. The next most common DTI ratio? 30-36%, with 14 originations.
Ethnicity Mix
| Applicant Ethnicity | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| White | 71 | $8,645,000 | $121,761 | $3,074 | 6.97% |
| Black | 14 | $1,640,000 | $117,143 | $2,066 | 6.97% |
Approval Rates
Total approvals of all applications63.32%
Alatrust Credit Union has a low approval rate. They may have poor market targeting or stringent lending standards.
Pick Rate
Approvals leading to origination51.76%
Alatrust 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 |
|---|---|---|---|
| 0.0 | 32 | $2,570,000 | $80,313 |
| 3939.53 | 1 | $85,000 | $85,000 |
| 783.0 | 1 | $105,000 | $105,000 |
| 786.0 | 1 | $155,000 | $155,000 |
| 9319.91 | 1 | $135,000 | $135,000 |
| NA | 49 | $7,235,000 | $147,653 |