Adventure Credit Union Mortgage Rates, Fees & Info

Grand Rapids, MI

LEI: 254900GP2576VSW7TS47

Tax ID: 38-0855535

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

    Adventure Credit Union is a smaller credit union specializing in Home Purchase and Cash Out Refi loans. Adventure Credit Union has a high proportion of conventional loans. Their top markets by origination volume include: Grand Rapids, Lansing, Holland, Muskegon, and Detroit among others. We have data for 16 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Adventure 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. Adventure 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) 6.27% 4/28/24
    30 Year Conventional Purchase 6.88% 4/28/24
    30 Year Conventional Refi 5.68% 4/28/24
    30 Year Cash-out Refi 6.78% 4/28/24
    15 Year Conventional Purchase 5.41% 4/28/24
    15 Year Conventional Refi 5.43% 4/28/24
    15 Year Cash-out Refi 5.43% 4/28/24
    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.

    Adventure Credit Union Mortgage Calculator






    Your Estimates

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

    This is not an official calculator from Adventure 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

    422

    Origination Dollar Volume (All Markets)

    $45,190,000

    Awards

    Adventure Credit Union 30 Year Conventional Loans gold Adventure Credit Union 30 Year Conventional Loans gold Adventure Credit Union 30 Year Conventional Loans silver Adventure Credit Union 30 Year Conventional Loans silver
    Show all (4) 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
    GRAND RAPIDS-KENTWOOD, MI (FHA|USDA|VA) 302 $31,110,000 $103,013 $2,135 4.88%
    Outside of Metro Areas 37 $5,285,000 $142,838 $2,216 4.65%
    LANSING-EAST LANSING, MI (FHA|USDA|VA) 37 $2,835,000 $76,622 $2,100 4.80%
    Holland, MI (FHA|USDA|VA) 11 $1,135,000 $103,182 $1,860 5.28%
    MUSKEGON, MI (FHA|USDA|VA) 10 $1,050,000 $105,000 $2,143 5.29%
    Detroit-Warren-Dearborn, MI (FHA|USDA|VA) 5 $835,000 $167,000 $1,939 4.83%
    JACKSON, MI (FHA|USDA|VA) 2 $780,000 $390,000 $2,445 4.56%
    Ludington, MI (FHA|USDA|VA) 1 $435,000 $435,000 $2,483 5.00%
    KALAMAZOO-PORTAGE, MI (FHA|USDA|VA) 4 $300,000 $75,000 $2,061 4.78%
    Big Rapids, MI (FHA|USDA|VA) 4 $300,000 $75,000 $1,914 4.66%
    Traverse City, MI (FHA|USDA|VA) 2 $270,000 $135,000 $2,050 5.25%
    Cadillac, MI (FHA|USDA|VA) 2 $230,000 $115,000 $2,040 5.13%
    Escanaba, MI (FHA|USDA|VA) 1 $215,000 $215,000 $3,330 5.00%
    Mount Pleasant, MI (FHA|USDA|VA) 2 $210,000 $105,000 $2,136 5.00%
    FLINT, MI (FHA|USDA|VA) 1 $105,000 $105,000 $2,299 4.63%
    SAGINAW, MI (FHA|USDA|VA) 1 $95,000 $95,000 $1,857 4.88%
    Adventure Credit Union's top markets include Grand Rapids, Lansing, Holland, Muskegon, and Detroit among others.

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

    • Similar Lenders

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

    Macatawa Bank
    Similarity Rank: 195
    Isabella Bank
    Similarity Rank: 209
    Community West Credit Union
    Similarity Rank: 276
    CASE
    Similarity Rank: 300
    West Michigan Community Bank
    Similarity Rank: 328
    COMMUNITY FIRST
    Similarity Rank: 350
    PREFERRED CREDIT UNION
    Similarity Rank: 375
    LAFCU
    Similarity Rank: 380
    AAC Credit Union
    Similarity Rank: 544
    PFCU
    Similarity Rank: 790

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 291 $37,595,000 $129,192 $2,143 5.02%
    HELOC 131 $7,595,000 $57,977 n/a 4.54%

    For 2018, Adventure Credit Union's most frequently originated type of loan was Conventional, with 291 originations. Their 2nd most popular type was HELOC, with 131 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Improvement 164 $8,000,000 $48,780 $0 4.85%
    Home Purchase 134 $23,820,000 $177,761 $2,271 4.82%
    Cash Out Refi 70 $9,150,000 $130,714 $2,030 5.01%
    Refi 32 $3,540,000 $110,625 $1,734 4.74%
    Other 22 $680,000 $30,909 $0 5.10%

    For 2018, Adventure Credit Union's most frequently cited loan purpose was Home Improvement, with 164 originations. The 2nd most popular reason was Home Purchase, with 134 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    10 Year 144 $9,080,000 $63,056 $2,130 4.66%
    30 Year 142 $23,900,000 $168,310 $2,163 4.94%
    15 Year 48 $4,810,000 $100,208 $2,014 4.61%
    Other 30 $1,460,000 $48,667 $1,898 5.97%
    20 Year 24 $3,040,000 $126,667 $2,037 5.15%
    5 Year 16 $1,180,000 $73,750 $0 5.70%
    3 Year 11 $75,000 $6,818 $0 3.50%
    1 Year 7 $1,645,000 $235,000 $3,491 4.42%

    For 2018, Adventure Credit Union's most frequently cited loan duration was 10 Year, with 144 originations. The 2nd most popular length was 30 Year, with 142 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 62 $11,260,000 $181,613
    $1k-2k 4 $520,000 $130,000
    $2k-3k 1 $195,000 $195,000

    Adventure Credit Union's average total fees were $2,163, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 62 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    4-5% 244 $28,210,000 $115,615
    5-6% 107 $11,645,000 $108,832
    3-4% 58 $4,760,000 $82,069
    6-7% 11 $535,000 $48,636
    Over 8% 2 $40,000 $20,000

    During 2018, Adventure Credit Union's average interest rate for loans was 4.94%, while their most frequently originated rate bucket for loans was 4-5%, with 244 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 249 $11,535,000 $46,325 $1,878 4.90%
    $100k-200k 128 $18,560,000 $145,000 $2,147 4.85%
    $200k-400k 36 $9,590,000 $266,389 $2,410 4.82%
    $400k-600k 6 $2,830,000 $471,667 $2,810 4.94%
    $600k-1MM 2 $1,620,000 $810,000 $3,995 4.43%
    $1MM+ 1 $1,055,000 $1,055,000 $0 4.75%

    2018 saw Adventure Credit Union place emphasis on $100,000 or less loans with 249 originations, totaling $11,535,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k or less 133 $9,195,000 $69,135 $1,973 4.82%
    $50k-75k 101 $9,435,000 $93,416 $2,112 4.91%
    $75k-100k 70 $8,230,000 $117,571 $2,232 4.83%
    $100k-150k 68 $8,110,000 $119,265 $2,307 4.85%
    $150k-250k 25 $5,355,000 $214,200 $2,258 4.83%
    $250k+ 24 $4,850,000 $202,083 $2,967 5.27%

    Adventure Credit Union lent most frequently to those with incomes in the $50k or less range, with 133 originations. The second most popular income band? $50k-75k, with 101 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    <20% 141 $16,165,000 $114,645 $2,090 4.73%
    20-30% 83 $6,455,000 $77,771 $2,163 4.90%
    30-36% 62 $6,090,000 $98,226 $2,230 4.76%
    40% 11 $1,315,000 $119,545 $2,364 4.56%
    37% 11 $1,445,000 $131,364 $2,264 4.75%
    38% 10 $1,920,000 $192,000 $2,567 5.00%
    39% 7 $475,000 $67,857 $2,058 4.75%
    50-60% 7 $895,000 $127,857 $2,017 5.11%
    42% 6 $870,000 $145,000 $1,902 4.90%
    43% 6 $1,120,000 $186,667 $2,355 5.04%
    44% 6 $400,000 $66,667 $1,793 4.58%
    41% 5 $995,000 $199,000 $2,484 5.35%
    36% 5 $305,000 $61,000 $0 4.80%
    45% 2 $260,000 $130,000 $2,077 5.25%
    >60% 2 $50,000 $25,000 $0 4.63%
    48% 2 $260,000 $130,000 $2,062 5.06%
    47% 1 $65,000 $65,000 $0 4.00%
    46% 1 $25,000 $25,000 $0 5.75%

    Adventure Credit Union lent most frequently to those with DTI ratios of <20%, with 141 originations. The next most common DTI ratio? 20-30%, with 83 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 377 $39,775,000 $105,504 $2,136 4.86%
    Black 30 $2,920,000 $97,333 $2,150 5.03%
    Asian 6 $1,410,000 $235,000 $2,481 4.79%
    Not provided 5 $795,000 $159,000 $2,051 4.85%
    Native Hawaiian or Islander 1 $185,000 $185,000 $2,195 4.75%
    American Indian 2 $90,000 $45,000 $0 4.75%
    Other Pacific Islander 1 $15,000 $15,000 $0 5.50%

    Approval Rates

    Total approvals of all applications
    93.22%

    Adventure Credit Union has an average approval rate.

    Pick Rate

    Approvals leading to origination
    86.97%

    Adventure Credit Union has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 422 $45,190,000 $107,085

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Single Family (1-4 Units):Manufactured 7 $715,000 $102,143
    Single Family (1-4 Units):Site-Built 415 $44,475,000 $107,169

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 59 $3,675,000 $62,288 $1,763 4.96%
    40-60% 45 $4,145,000 $92,111 $2,226 4.65%
    60-80% 108 $16,200,000 $150,000 $2,133 4.88%
    80-100% 102 $16,890,000 $165,588 $2,163 4.91%
    Over 100% 4 $630,000 $157,500 $2,120 4.97%
    Under 20% 74 $2,010,000 $27,162 $1,979 4.84%