Abound Federal Credit Union Mortgage Rates, Fees & Info

Radcliff, KY

LEI: 254900LEJ4HP6RMWD374

Tax ID: 61-0549068

5 stars - Updated: 2/26/24 - out of 5 stars, based on 36 reviews

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

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Mortgage Data

Review & Overview

Abound Federal Credit Union is a smaller credit union specializing in Home Improvement, Cash Out Refi, and 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 17 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 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) 5.37% 2/26/24
30 Year Conventional Purchase 6.64% 2/26/24
30 Year Conventional Refi 6.46% 2/26/24
30 Year Cash-out Refi 6.77% 2/26/24
30 Year VA Purchase 5.93% 2/26/24
15 Year Conventional Purchase 5.59% 2/26/24
15 Year Conventional Refi 5.87% 2/26/24
15 Year Cash-out Refi 5.87% 2/26/24
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

1,271

Origination Dollar Volume (All Markets)

$153,765,000
Show all (8) awards

Relative Rate

Abound Federal Credit Union's average 30 year fixed mortgage rate was 4.69%.

The 2022 average 30 year fixed rate mortgage across all markets and lenders was 4.76%.

This yields a difference of -0.07%.

Relative Fees (Closing Costs)

Abound Federal Credit Union's average total fees/closing costs for a 30 year fixed rate mortgage were $2,273.

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 $4,750.

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) 540 $62,470,000 $115,685 $2,110 4.42%
LOUISVILLE, KY (FHA|USDA|VA) 174 $30,410,000 $174,770 $2,277 4.60%
BOWLING GREEN, KY (FHA|USDA|VA) 118 $15,460,000 $131,017 $2,335 4.70%
Outside of Metro Areas 142 $15,260,000 $107,465 $2,076 4.58%
Bardstown, KY (FHA|USDA|VA) 86 $8,850,000 $102,907 $2,047 4.58%
Danville, KY (FHA|USDA|VA) 70 $7,310,000 $104,429 $2,056 4.45%
Campbellsville, KY (FHA|USDA|VA) 64 $5,870,000 $91,719 $2,066 4.85%
Glasgow, KY (FHA|USDA|VA) 49 $3,685,000 $75,204 $1,986 4.83%
LEXINGTON-FAYETTE, KY (FHA|USDA|VA) 12 $1,690,000 $140,833 $2,379 5.10%
Somerset, KY (FHA|USDA|VA) 5 $1,055,000 $211,000 $2,588 5.19%
CINCINNATI, OH-KY-IN (FHA|USDA|VA) 3 $435,000 $145,000 $1,823 4.38%
Frankfort, KY (FHA|USDA|VA) 3 $345,000 $115,000 $2,926 4.42%
London, KY (FHA|USDA|VA) 1 $345,000 $345,000 $2,721 4.88%
Middlesborough, KY (FHA|USDA|VA) 1 $195,000 $195,000 $2,360 3.38%
OWENSBORO, KY (FHA|USDA|VA) 1 $155,000 $155,000 $0 5.00%
Bedford, IN (FHA|USDA|VA) 1 $125,000 $125,000 $1,965 5.88%
CLARKSVILLE, TN-KY (FHA|USDA|VA) 1 $105,000 $105,000 $1,454 2.88%
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)
  • 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.

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    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    HELOC 876 $73,300,000 $83,676 n/a 4.62%
    Conventional 393 $80,095,000 $203,804 $2,126 4.38%
    VA 2 $370,000 $185,000 $3,420 5.44%

    For 2022, Abound Federal Credit Union's most frequently originated type of loan was HELOC, with 876 originations. Their 2nd most popular type was Conventional, with 393 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Improvement 447 $36,915,000 $82,584 $2,555 4.47%
    Cash Out Refi 284 $31,820,000 $112,042 $1,904 4.47%
    Home Purchase 208 $46,980,000 $225,865 $2,402 4.82%
    Other 199 $17,415,000 $87,513 $0 4.89%
    Refi 133 $20,635,000 $155,150 $1,873 4.04%

    For 2022, Abound Federal Credit Union's most frequently cited loan purpose was Home Improvement, with 447 originations. The 2nd most popular reason was Cash Out Refi, with 284 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    10 Year 876 $73,300,000 $83,676 $0 4.62%
    30 Year 230 $51,650,000 $224,565 $2,273 4.69%
    15 Year 101 $12,815,000 $126,881 $1,867 3.73%
    5 Year 28 $5,920,000 $211,429 $1,116 4.32%
    20 Year 27 $3,755,000 $139,074 $1,898 4.33%
    Other 9 $6,325,000 $702,778 $3,139 4.16%

    For 2022, Abound Federal Credit Union's most frequently cited loan duration was 10 Year, with 876 originations. The 2nd most popular length was 30 Year, with 230 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 361 $69,295,000 $191,953
    $1k-2k 2 $370,000 $185,000

    Abound Federal Credit Union's average total fees were $2,273, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 361 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    3-4% 423 $55,775,000 $131,856
    4-5% 293 $37,145,000 $126,775
    5-6% 249 $28,825,000 $115,763
    6-7% 133 $14,215,000 $106,880
    2.5-3% 126 $12,650,000 $100,397
    Over 8% 20 $1,280,000 $64,000
    <2.5% 15 $2,815,000 $187,667
    7-8% 12 $1,060,000 $88,333

    During 2022, Abound Federal Credit Union's average interest rate for loans was 4.69%, while their most frequently originated rate bucket for loans was 3-4%, with 423 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 729 $40,655,000 $55,768 $1,767 4.60%
    $100k-200k 354 $49,250,000 $139,124 $2,025 4.55%
    $200k-400k 149 $39,485,000 $265,000 $2,401 4.46%
    $400k-600k 27 $12,575,000 $465,741 $2,802 3.90%
    $600k-1MM 10 $7,070,000 $707,000 $3,400 4.34%
    $1MM+ 2 $4,730,000 $2,365,000 $2,429 4.00%

    2022 saw Abound Federal Credit Union place emphasis on $100,000 or less loans with 729 originations, totaling $40,655,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 296 $36,070,000 $121,858 $2,255 4.51%
    $50k-75k 281 $27,415,000 $97,562 $2,027 4.57%
    $75k-100k 272 $28,350,000 $104,228 $2,170 4.58%
    $50k or less 196 $16,300,000 $83,163 $1,946 4.54%
    $150k-250k 162 $24,220,000 $149,506 $2,452 4.65%
    $250k+ 34 $10,060,000 $295,882 $2,836 4.31%

    Abound Federal Credit Union lent most frequently to those with incomes in the $100k-150k range, with 296 originations. The second most popular income band? $50k-75k, with 281 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 290 $30,670,000 $105,759 $2,015 4.39%
    30-36% 233 $27,545,000 $118,219 $2,227 4.74%
    <20% 110 $11,080,000 $100,727 $1,883 4.28%
    50-60% 90 $9,460,000 $105,111 $2,217 4.21%
    43% 55 $6,505,000 $118,273 $2,024 5.18%
    39% 48 $6,290,000 $131,042 $2,411 4.62%
    38% 44 $4,630,000 $105,227 $2,220 4.47%
    45% 43 $5,845,000 $135,930 $2,499 4.68%
    36% 42 $5,320,000 $126,667 $2,064 4.46%
    40% 41 $5,185,000 $126,463 $2,236 4.81%
    37% 41 $5,105,000 $124,512 $2,207 4.57%
    44% 37 $4,275,000 $115,541 $2,358 4.85%
    42% 35 $4,635,000 $132,429 $2,382 4.50%
    41% 33 $4,135,000 $125,303 $2,106 4.64%
    46% 27 $3,965,000 $146,852 $2,311 4.74%
    47% 24 $3,010,000 $125,417 $1,906 4.75%
    48% 21 $2,325,000 $110,714 $2,406 4.55%
    >60% 17 $1,865,000 $109,706 $2,662 4.18%
    49% 14 $1,810,000 $129,286 $2,132 4.51%

    Abound Federal Credit Union lent most frequently to those with DTI ratios of 20-30%, with 290 originations. The next most common DTI ratio? 30-36%, with 233 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 1,155 $132,005,000 $114,290 $2,126 4.55%
    Not applicable 25 $10,065,000 $402,600 $0 4.46%
    Black 67 $6,865,000 $102,463 $2,164 4.69%
    Not provided 17 $4,035,000 $237,353 $2,233 4.10%
    Asian 5 $545,000 $109,000 $2,097 4.73%
    Vietnamese 1 $175,000 $175,000 $0 6.00%
    Native Hawaiian or Islander 1 $75,000 $75,000 $0 5.00%

    Approval Rates

    Total approvals of all applications
    83.39%

    Abound Federal Credit Union has a below average approval rate.

    Pick Rate

    Approvals leading to origination
    77.34%

    Abound Federal Credit Union has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    0.0 705 $59,925,000 $85,000
    NA 566 $93,840,000 $165,795

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    1,271 $153,765,000 $120,980

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 440 $35,920,000 $81,636 $1,720 4.62%
    40-60% 176 $26,160,000 $148,636 $1,916 4.43%
    60-80% 185 $38,235,000 $206,676 $2,021 4.34%
    80-100% 165 $40,165,000 $243,424 $2,436 4.68%
    Under 20% 305 $13,285,000 $43,557 $1,113 4.57%