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
  • Complaints
  • 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 Refi, Cash Out Refi, and Home Purchase 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 15 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 an above 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.

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    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

    609

    Origination Dollar Volume (All Markets)

    $85,835,000

    Awards

    Adventure Credit Union 30 Year Conventional Loans gold Adventure Credit Union 30 Year Conventional Loans gold Adventure Credit Union 30 Year Conventional Loans gold Adventure Credit Union 30 Year Conventional Loans gold
    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) 451 $64,105,000 $142,140 $1,939 3.62%
    Outside of Metro Areas 39 $5,455,000 $139,872 $1,905 3.32%
    LANSING-EAST LANSING, MI (FHA|USDA|VA) 46 $4,980,000 $108,261 $1,750 3.93%
    Holland, MI (FHA|USDA|VA) 28 $3,820,000 $136,429 $2,060 3.64%
    MUSKEGON, MI (FHA|USDA|VA) 14 $2,500,000 $178,571 $1,975 3.27%
    Detroit-Warren-Dearborn, MI (FHA|USDA|VA) 7 $1,285,000 $183,571 $2,189 3.29%
    Big Rapids, MI (FHA|USDA|VA) 8 $1,030,000 $128,750 $2,034 3.44%
    Traverse City, MI (FHA|USDA|VA) 3 $745,000 $248,333 $2,518 3.79%
    Ludington, MI (FHA|USDA|VA) 2 $630,000 $315,000 $2,458 3.13%
    KALAMAZOO-PORTAGE, MI (FHA|USDA|VA) 4 $600,000 $150,000 $1,649 5.69%
    Adrian, MI (FHA|USDA|VA) 1 $215,000 $215,000 $2,560 5.50%
    Mount Pleasant, MI (FHA|USDA|VA) 2 $170,000 $85,000 $2,056 3.63%
    Cadillac, MI (FHA|USDA|VA) 2 $140,000 $70,000 $1,921 2.88%
    FLINT, MI (FHA|USDA|VA) 1 $135,000 $135,000 $1,969 3.25%
    Alma, MI (FHA|USDA|VA) 1 $25,000 $25,000 $0 4.65%
    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.

    Community West Credit Union
    Similarity Rank: 210
    KENT COUNTY CREDIT UNION
    Similarity Rank: 235
    Frankenmuth Credit Union
    Similarity Rank: 270
    PREFERRED CREDIT UNION
    Similarity Rank: 425
    Meijer Credit Union
    Similarity Rank: 490
    LAFCU
    Similarity Rank: 527
    RIVER VALLEY CREDIT UNION
    Similarity Rank: 536
    West Michigan Credit Union
    Similarity Rank: 574
    FINANCIAL PLUS CREDIT UNION
    Similarity Rank: 588
    MEMBERS FIRST Credit Union
    Similarity Rank: 608

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 468 $76,650,000 $163,782 $1,934 3.44%
    HELOC 141 $9,185,000 $65,142 n/a 4.25%

    For 2020, Adventure Credit Union's most frequently originated type of loan was Conventional, with 468 originations. Their 2nd most popular type was HELOC, with 141 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Refi 190 $32,520,000 $171,158 $1,851 3.13%
    Cash Out Refi 153 $24,825,000 $162,255 $2,033 3.39%
    Home Improvement 140 $7,470,000 $53,357 $0 4.39%
    Home Purchase 107 $19,755,000 $184,626 $2,254 3.63%
    Other 19 $1,265,000 $66,579 $0 4.76%

    For 2020, Adventure Credit Union's most frequently cited loan purpose was Refi, with 190 originations. The 2nd most popular reason was Cash Out Refi, with 153 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 233 $44,665,000 $191,695 $2,089 3.46%
    15 Year 151 $20,015,000 $132,550 $1,872 3.02%
    10 Year 143 $9,425,000 $65,909 $960 4.17%
    20 Year 47 $8,935,000 $190,106 $1,997 3.59%
    Other 17 $1,735,000 $102,059 $1,264 5.80%
    1 Year 8 $830,000 $103,750 $3,626 4.28%
    3 Year 5 $95,000 $19,000 $0 3.50%
    5 Year 5 $135,000 $27,000 $0 5.80%

    For 2020, Adventure Credit Union's most frequently cited loan duration was 30 Year, with 233 originations. The 2nd most popular length was 15 Year, with 151 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 449 $72,155,000 $160,702
    $1k-2k 3 $545,000 $181,667
    $2k-3k 2 $240,000 $120,000
    $3k-4k 1 $255,000 $255,000

    Adventure Credit Union's average total fees were $2,089, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 449 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    3-4% 310 $41,010,000 $132,290
    2.5-3% 175 $29,535,000 $168,771
    4-5% 81 $10,495,000 $129,568
    5-6% 20 $1,860,000 $93,000
    <2.5% 15 $2,725,000 $181,667
    Over 8% 4 $90,000 $22,500
    6-7% 3 $95,000 $31,667
    7-8% 1 $25,000 $25,000

    During 2020, Adventure Credit Union's average interest rate for loans was 3.46%, while their most frequently originated rate bucket for loans was 3-4%, with 310 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100k-200k 248 $36,170,000 $145,847 $1,950 3.36%
    $100,000 or less 224 $11,150,000 $49,777 $1,419 4.07%
    $200k-400k 123 $31,475,000 $255,894 $2,263 3.38%
    $400k-600k 12 $5,680,000 $473,333 $2,513 3.26%
    $600k-1MM 2 $1,360,000 $680,000 $0 4.38%

    2020 saw Adventure Credit Union place emphasis on $100k-200k loans with 248 originations, totaling $36,170,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 177 $21,795,000 $123,136 $1,940 3.63%
    $50k or less 135 $11,775,000 $87,222 $1,720 3.73%
    $75k-100k 128 $18,540,000 $144,844 $1,960 3.54%
    $100k-150k 104 $16,640,000 $160,000 $2,020 3.57%
    $150k-250k 44 $10,950,000 $248,864 $2,246 3.56%
    $250k+ 20 $5,380,000 $269,000 $2,292 3.84%

    Adventure Credit Union lent most frequently to those with incomes in the $50k-75k range, with 177 originations. The second most popular income band? $50k or less, with 135 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 176 $22,850,000 $129,830 $1,856 3.57%
    30-36% 107 $18,135,000 $169,486 $2,082 3.54%
    <20% 99 $11,265,000 $113,788 $1,761 3.59%
    37% 24 $3,330,000 $138,750 $1,986 3.48%
    40% 23 $3,345,000 $145,435 $2,128 3.58%
    39% 21 $3,925,000 $186,905 $2,060 3.66%
    41% 18 $2,690,000 $149,444 $1,973 3.60%
    42% 16 $1,860,000 $116,250 $2,027 3.48%
    38% 16 $1,830,000 $114,375 $1,822 3.82%
    43% 16 $2,340,000 $146,250 $2,074 3.57%
    45% 14 $2,250,000 $160,714 $2,073 3.33%
    36% 14 $1,580,000 $112,857 $2,027 4.66%
    44% 11 $1,845,000 $167,727 $1,964 3.67%
    50-60% 8 $1,090,000 $136,250 $1,986 3.69%
    46% 8 $850,000 $106,250 $1,929 3.03%
    47% 7 $1,055,000 $150,714 $1,933 3.54%
    49% 6 $900,000 $150,000 $1,174 4.06%
    48% 5 $405,000 $81,000 $1,979 3.50%
    >60% 1 $85,000 $85,000 $0 4.00%

    Adventure Credit Union lent most frequently to those with DTI ratios of 20-30%, with 176 originations. The next most common DTI ratio? 30-36%, with 107 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 595 $83,685,000 $140,647 $1,929 3.62%
    Black 10 $1,390,000 $139,000 $2,369 3.85%
    Asian 2 $380,000 $190,000 $2,225 3.50%
    Native Hawaiian or Islander 1 $235,000 $235,000 $1,802 2.88%
    1 $145,000 $145,000 $2,068 4.25%

    Approval Rates

    Total approvals of all applications
    96.54%

    Adventure 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
    92.94%

    Adventure Credit Union has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 609 $85,835,000 $140,944

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Single Family (1-4 Units):Manufactured 5 $645,000 $129,000
    Single Family (1-4 Units):Site-Built 604 $85,190,000 $141,043

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 110 $7,610,000 $69,182 $1,645 3.97%
    40-60% 113 $15,375,000 $136,062 $1,880 3.13%
    60-80% 199 $37,655,000 $189,221 $2,030 3.40%
    80-100% 103 $20,545,000 $199,466 $2,180 3.55%
    Over 100% 1 $285,000 $285,000 $0 4.50%
    Under 20% 71 $2,225,000 $31,338 $119 4.47%

    Complaints

    Bank Name Product Issue 2020 CPFB Complaints % of Total Issues
    Advantage Credit, Inc. Other type of mortgage Applying for a mortgage or refinancing an existing mortgage 1 100.0%