Alatrust Credit Union Mortgage Rates, Fees & Info

Hoover, AL

LEI: 2549009IIR21WKPEE762

Tax ID: 63-0021787

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
  • Complaints
  • 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

    Alatrust Credit Union is a smaller credit union specializing in Cash Out Refi, Refi, and Home Purchase loans. Alatrust Credit Union has a high proportion of conventional loans. Their top markets by origination volume include: Birmingham, Montgomery, Talladega, Anniston, and Jasper among others. We have data for 8 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.

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    SimulatedRates™

    Mortgage Type     		Simulated Rate Simulation Date
    Home Equity Line of Credit (HELOC) 6.27% 11/17/24
    30 Year Conventional Purchase 6.53% 11/17/24
    30 Year Conventional Refi 6.56% 11/17/24
    30 Year Cash-out Refi 6.05% 11/17/24
    30 Year VA Purchase 7.56% 11/17/24
    30 Year USDA Purchase 6.27% 11/17/24
    15 Year Conventional Purchase 5.25% 11/17/24
    15 Year Conventional Refi 5.65% 11/17/24
    15 Year Cash-out Refi 5.65% 11/17/24
    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.

    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

    28

    Origination Dollar Volume (All Markets)

    $1,930,000

    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
    BIRMINGHAM-HOOVER, AL (FHA|USDA|VA) 9 $465,000 $51,667 $1,935 4.82%
    MONTGOMERY, AL (FHA|USDA|VA) 1 $395,000 $395,000 $7,685 4.40%
    Talladega-Sylacauga, AL (FHA|USDA|VA) 4 $350,000 $87,500 $1,988 4.64%
    ANNISTON-OXFORD, AL (FHA|USDA|VA) 7 $305,000 $43,571 $2,560 4.61%
    Outside of Metro Areas 1 $175,000 $175,000 $1,971 4.75%
    Jasper, AL (FHA|USDA|VA) 4 $170,000 $42,500 $1,834 4.16%
    Cullman, AL (FHA|USDA|VA) 1 $35,000 $35,000 $0 4.75%
    AUBURN-OPELIKA, AL (FHA|USDA|VA) 1 $35,000 $35,000 $0 4.25%
    Alatrust Credit Union's top markets include Birmingham, Montgomery, Talladega, Anniston, and Jasper among others.

    Their top states include:
  • Alabama (FHA|USDA|VA)

    • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    HELOC 16 $720,000 $45,000 n/a 4.57%
    Conventional 12 $1,210,000 $100,833 $2,528 4.65%

    For 2018, Alatrust Credit Union's most frequently originated type of loan was HELOC, with 16 originations. Their 2nd most popular type was Conventional, with 12 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Cash Out Refi 9 $545,000 $60,556 $2,372 4.52%
    Home Improvement 6 $220,000 $36,667 $1,820 4.75%
    Refi 6 $400,000 $66,667 $1,147 4.94%
    Other 5 $295,000 $59,000 $0 4.38%
    Home Purchase 2 $470,000 $235,000 $4,731 4.15%

    For 2018, Alatrust Credit Union's most frequently cited loan purpose was Cash Out Refi, with 9 originations. The 2nd most popular reason was Home Improvement, with 6 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    20 Year 12 $530,000 $44,167 $0 4.63%
    30 Year 7 $475,000 $67,857 $1,883 4.35%
    10 Year 5 $195,000 $39,000 $2,134 4.75%
    15 Year 3 $335,000 $111,667 $1,903 4.97%
    Other 1 $395,000 $395,000 $7,685 4.40%

    For 2018, Alatrust Credit Union's most frequently cited loan duration was 20 Year, with 12 originations. The 2nd most popular length was 30 Year, with 7 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 8 $530,000 $66,250
    $1k-2k 2 $160,000 $80,000
    $4k-5k 1 $395,000 $395,000

    Alatrust Credit Union's average total fees were $1,883, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 8 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    4-5% 18 $1,310,000 $72,778
    5-6% 5 $205,000 $41,000
    3-4% 4 $290,000 $72,500
    6-7% 1 $125,000 $125,000

    During 2018, Alatrust Credit Union's average interest rate for loans was 4.35%, while their most frequently originated rate bucket for loans was 4-5%, with 18 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 24 $1,110,000 $46,250 $2,182 4.57%
    $100k-200k 3 $425,000 $141,667 $1,334 4.97%
    $200k-400k 1 $395,000 $395,000 $7,685 4.40%

    2018 saw Alatrust Credit Union place emphasis on $100,000 or less loans with 24 originations, totaling $1,110,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 10 $660,000 $66,000 $2,019 4.86%
    $100k-150k 7 $455,000 $65,000 $2,179 4.54%
    $50k or less 5 $175,000 $35,000 $1,827 4.18%
    $75k-100k 5 $605,000 $121,000 $7,685 4.61%
    $150k-250k 1 $35,000 $35,000 $0 4.75%

    Alatrust Credit Union lent most frequently to those with incomes in the $50k-75k range, with 10 originations. The second most popular income band? $100k-150k, with 7 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 7 $295,000 $42,143 $1,834 4.36%
    40% 3 $625,000 $208,333 $4,828 4.47%
    39% 3 $195,000 $65,000 $3,177 4.83%
    30-36% 3 $165,000 $55,000 $1,598 5.58%
    <20% 2 $70,000 $35,000 $0 4.25%
    36% 2 $110,000 $55,000 $2,081 4.08%
    41% 2 $100,000 $50,000 $2,305 5.25%
    44% 2 $160,000 $80,000 $696 4.33%
    42% 1 $75,000 $75,000 $0 5.25%
    43% 1 $65,000 $65,000 $0 4.25%
    37% 1 $45,000 $45,000 $2,560 4.25%
    >60% 1 $25,000 $25,000 $1,820 4.25%

    Alatrust Credit Union lent most frequently to those with DTI ratios of 20-30%, with 7 originations. The next most common DTI ratio? 40%, with 3 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 23 $1,615,000 $70,217 $2,668 4.50%
    Black 5 $315,000 $63,000 $2,154 5.08%

    Approval Rates

    Total approvals of all applications
    59.46%

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

    Pick Rate

    Approvals leading to origination
    82.14%

    Alatrust Credit Union has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    0.0 14 $580,000 $41,429
    NA 14 $1,350,000 $96,429

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Single Family (1-4 Units):Site-Built 28 $1,930,000 $68,929

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 5 $205,000 $41,000 $0 4.75%
    40-60% 4 $230,000 $57,500 $2,386 4.38%
    60-80% 7 $565,000 $80,714 $1,857 4.39%
    80-100% 3 $605,000 $201,667 $5,431 5.22%
    Under 20% 9 $325,000 $36,111 $1,709 4.60%

    Complaints

    Bank Name Product Issue 2018 CPFB Complaints % of Total Issues
    Aldridge Pite, LLP Conventional home mortgage Struggling to pay mortgage 4 66.7%
    Aldridge Pite, LLP Conventional home mortgage Trouble during payment process 1 16.7%
    Aldridge Pite, LLP Other type of mortgage Struggling to pay mortgage 1 16.7%