Abound Federal Credit Union Mortgage Rates, Fees & Info

Radcliff, KY

LEI: 254900LEJ4HP6RMWD374

Tax ID: 61-0549068

5 stars - Updated: 11/17/24 - out of 5 stars, based on 32 reviews

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

Jump to:

  • SimulatedRates™
  • Mortgage Calculator

    • Mortgage Data

  • Originations
  • Relative Rates
  • Relative Fees
  • 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

    Abound Federal Credit Union is a smaller credit union specializing in Home Purchase loans. Abound Federal Credit Union has a high proportion of conventional loans. Their top markets by origination volume include: Elizabethtown, Louisville, Bowling Green, Bardstown, and Danville among others. We have data for 21 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Abound Federal Credit Union has an average approval rate when compared to the average across all lenders. They have a below average pick rate when compared to similar lenders. Abound Federal 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 relatively high 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) 5.37% 11/17/24
    30 Year Conventional Purchase 6.64% 11/17/24
    30 Year Conventional Refi 6.46% 11/17/24
    30 Year Cash-out Refi 6.77% 11/17/24
    30 Year VA Purchase 5.93% 11/17/24
    15 Year Conventional Purchase 5.59% 11/17/24
    15 Year Conventional Refi 5.87% 11/17/24
    15 Year Cash-out Refi 5.87% 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.

    Abound Federal Credit Union Mortgage Calculator






    Your Estimates

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

    This is not an official calculator from Abound Federal 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

    1,041

    Origination Dollar Volume (All Markets)

    $140,465,000
    Show all (13) awards

    Relative Rate

    Abound Federal Credit Union's average 30 year fixed mortgage rate was 5.99%.

    The 2023 average 30 year fixed rate mortgage across all markets and lenders was 6.48%.

    This yields a difference of -0.49%.

    Relative Fees (Closing Costs)

    Abound Federal Credit Union's average total fees/closing costs for a 30 year fixed rate mortgage were $2,668.

    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 $9,089.

    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
    ELIZABETHTOWN-FORT KNOX, KY (FHA|USDA|VA) 433 $55,735,000 $128,718 $2,610 7.63%
    LOUISVILLE, KY (FHA|USDA|VA) 126 $25,570,000 $202,937 $2,736 7.62%
    Outside of Metro Areas 138 $15,840,000 $114,783 $2,457 7.62%
    BOWLING GREEN, KY (FHA|USDA|VA) 116 $14,550,000 $125,431 $2,711 7.93%
    Bardstown, KY (FHA|USDA|VA) 62 $7,330,000 $118,226 $2,708 7.71%
    Danville, KY (FHA|USDA|VA) 64 $7,190,000 $112,344 $2,557 7.50%
    Campbellsville, KY (FHA|USDA|VA) 48 $4,920,000 $102,500 $2,342 7.51%
    LEXINGTON-FAYETTE, KY (FHA|USDA|VA) 14 $4,060,000 $290,000 $3,164 7.74%
    Glasgow, KY (FHA|USDA|VA) 23 $2,645,000 $115,000 $2,454 7.88%
    OWENSBORO, KY (FHA|USDA|VA) 4 $880,000 $220,000 $3,083 7.41%
    NASHVILLE-DAVIDSON-MURFREESBORO-FRANKLIN, TN (FHA|USDA|VA) 1 $365,000 $365,000 $0 6.65%
    Somerset, KY (FHA|USDA|VA) 2 $320,000 $160,000 $2,762 7.60%
    Richmond-Berea, KY (FHA|USDA|VA) 2 $240,000 $120,000 $2,328 6.13%
    Frankfort, KY (FHA|USDA|VA) 1 $135,000 $135,000 $0 6.00%
    CINCINNATI, OH-KY-IN (FHA|USDA|VA) 1 $135,000 $135,000 $0 6.00%
    Plymouth, IN (FHA|USDA|VA) 1 $135,000 $135,000 $2,155 7.63%
    DAPHNE-FAIRHOPE-FOLEY, AL (FHA|USDA|VA) 1 $115,000 $115,000 $0 6.79%
    Mount Sterling, KY (FHA|USDA|VA) 1 $95,000 $95,000 $2,203 6.00%
    Madisonville, KY (FHA|USDA|VA) 1 $75,000 $75,000 $0 10.45%
    London, KY (FHA|USDA|VA) 1 $65,000 $65,000 $0 9.20%
    INDIANAPOLIS-CARMEL-ANDERSON, IN (FHA|USDA|VA) 1 $65,000 $65,000 $0 9.20%
    Abound Federal Credit Union's top markets include Elizabethtown, Louisville, Bowling Green, Bardstown, and Danville among others.

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

    • Similar Lenders

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

    Whitaker Bank
    Similarity Rank: 34
    SERVICE ONE
    Similarity Rank: 54
    The Cecilian Bank
    Similarity Rank: 78
    First Federal Savings Bank
    Similarity Rank: 150
    Morgantown Bank & Trust Company, Incorporated
    Similarity Rank: 161
    Community Trust Bank, Inc.
    Similarity Rank: 162
    Republic State Mortgage Co.
    Similarity Rank: 171
    The Peoples Bank
    Similarity Rank: 270
    Edmonton State Bank
    Similarity Rank: 308
    Peoples Bank
    Similarity Rank: 325

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    HELOC 720 $62,570,000 $86,903 n/a 8.41%
    Conventional 318 $77,080,000 $242,390 $2,584 5.98%
    VA 3 $815,000 $271,667 $4,354 6.13%

    For 2023, Abound Federal Credit Union's most frequently originated type of loan was HELOC, with 720 originations. Their 2nd most popular type was Conventional, with 318 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Improvement 322 $25,880,000 $80,373 $2,393 8.28%
    Home Purchase 225 $57,625,000 $256,111 $2,822 6.38%
    Cash Out Refi 204 $26,440,000 $129,608 $2,281 7.65%
    Other 189 $15,535,000 $82,196 $1,884 8.61%
    Refi 101 $14,985,000 $148,366 $2,178 6.73%

    For 2023, Abound Federal Credit Union's most frequently cited loan purpose was Home Improvement, with 322 originations. The 2nd most popular reason was Home Purchase, with 225 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    10 Year 719 $62,825,000 $87,378 $0 8.40%
    30 Year 232 $56,750,000 $244,612 $2,668 5.99%
    15 Year 57 $7,415,000 $130,088 $2,285 5.75%
    5 Year 20 $10,100,000 $505,000 $0 6.09%
    Other 5 $875,000 $175,000 $2,913 6.95%
    20 Year 4 $480,000 $120,000 $2,164 6.38%
    30+ year 3 $2,005,000 $668,333 $3,813 7.46%
    1 Year 1 $15,000 $15,000 $0 8.75%

    For 2023, Abound Federal Credit Union's most frequently cited loan duration was 10 Year, with 719 originations. The 2nd most popular length was 30 Year, with 232 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 281 $63,505,000 $225,996
    $1k-2k 9 $2,145,000 $238,333
    $2k-3k 4 $750,000 $187,500
    $3k-4k 2 $470,000 $235,000
    $4k-5k 1 $155,000 $155,000
    $5k+ 1 $155,000 $155,000

    Abound Federal Credit Union's average total fees were $2,668, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 281 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    Over 8% 416 $35,230,000 $84,688
    7-8% 339 $36,215,000 $106,829
    5-6% 121 $30,725,000 $253,926
    6-7% 107 $25,505,000 $238,364
    4-5% 49 $11,085,000 $226,224
    3-4% 6 $1,070,000 $178,333
    2.5-3% 3 $635,000 $211,667

    During 2023, Abound Federal Credit Union's average interest rate for loans was 5.99%, while their most frequently originated rate bucket for loans was Over 8%, with 416 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 559 $31,435,000 $56,234 $1,945 8.27%
    $100k-200k 272 $37,690,000 $138,566 $2,462 7.34%
    $200k-400k 174 $47,720,000 $274,253 $2,782 6.46%
    $400k-600k 24 $11,520,000 $480,000 $3,458 6.44%
    $600k-1MM 8 $5,450,000 $681,250 $3,458 6.16%
    $1MM+ 4 $6,650,000 $1,662,500 $0 5.95%

    2023 saw Abound Federal Credit Union place emphasis on $100,000 or less loans with 559 originations, totaling $31,435,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 260 $35,360,000 $136,000 $2,676 7.72%
    $75k-100k 210 $24,350,000 $115,952 $2,611 7.70%
    $50k-75k 202 $20,350,000 $100,743 $2,403 7.62%
    $150k-250k 184 $28,990,000 $157,554 $3,044 7.91%
    $50k or less 112 $8,160,000 $72,857 $2,172 7.46%
    $250k+ 44 $11,510,000 $261,591 $3,030 7.57%

    Abound Federal Credit Union lent most frequently to those with incomes in the $100k-150k range, with 260 originations. The second most popular income band? $75k-100k, with 210 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 226 $29,040,000 $128,496 $2,480 7.44%
    30-36% 213 $28,785,000 $135,141 $2,664 7.65%
    50-60% 108 $12,380,000 $114,630 $2,923 8.18%
    <20% 99 $8,625,000 $87,121 $2,564 7.42%
    38% 37 $3,845,000 $103,919 $2,630 8.34%
    40% 37 $5,805,000 $156,892 $2,669 7.58%
    36% 37 $4,175,000 $112,838 $2,648 7.69%
    39% 36 $6,870,000 $190,833 $2,682 7.36%
    37% 33 $4,165,000 $126,212 $2,451 8.02%
    42% 32 $5,070,000 $158,438 $2,576 7.62%
    43% 27 $4,145,000 $153,519 $2,519 7.46%
    44% 27 $3,375,000 $125,000 $3,093 8.05%
    46% 23 $2,685,000 $116,739 $2,390 7.99%
    41% 20 $2,810,000 $140,500 $2,613 7.72%
    47% 19 $2,395,000 $126,053 $5,767 8.21%
    49% 15 $2,255,000 $150,333 $3,075 7.55%
    48% 12 $1,140,000 $95,000 $2,203 8.00%
    45% 11 $1,465,000 $133,182 $2,386 7.10%
    >60% 6 $760,000 $126,667 $0 8.38%

    Abound Federal Credit Union lent most frequently to those with DTI ratios of 20-30%, with 226 originations. The next most common DTI ratio? 30-36%, with 213 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 951 $120,745,000 $126,966 $2,598 7.69%
    Not applicable 23 $10,675,000 $464,130 $0 6.25%
    Black 46 $5,340,000 $116,087 $2,774 8.14%
    Asian 13 $2,125,000 $163,462 $2,878 7.29%
    Not provided 6 $1,340,000 $223,333 $2,533 5.56%
    Native Hawaiian or Islander 2 $240,000 $120,000 $1,654 6.00%

    Approval Rates

    Total approvals of all applications
    84.73%

    Abound Federal Credit Union has a below average approval rate.

    Pick Rate

    Approvals leading to origination
    85.40%

    Abound Federal Credit Union has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    0.0 719 $62,555,000 $87,003
    NA 322 $77,910,000 $241,957

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    1,041 $140,465,000 $134,933

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 345 $29,985,000 $86,913 $2,120 8.21%
    40-60% 118 $17,710,000 $150,085 $2,190 7.54%
    60-80% 143 $33,215,000 $232,273 $2,586 6.41%
    80-100% 161 $44,835,000 $278,478 $2,797 6.38%
    Under 20% 274 $14,720,000 $53,723 $2,072 8.42%