Abound Federal Credit Union Mortgage Rates, Fees & Info

Radcliff, KY

LEI: 254900LEJ4HP6RMWD374

Tax ID: 61-0549068

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

    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. They have a a low proportion of FHA loans. (This may mean they shy away from first time homebuyers.) Their top markets by origination volume include: Elizabethtown, Louisville, Bowling Green, Danville, and Bardstown among others. We have data for 15 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% 12/16/24
    30 Year Conventional Purchase 6.64% 12/16/24
    30 Year Conventional Refi 6.46% 12/16/24
    30 Year Cash-out Refi 6.77% 12/16/24
    30 Year VA Purchase 5.93% 12/16/24
    15 Year Conventional Purchase 5.59% 12/16/24
    15 Year Conventional Refi 5.87% 12/16/24
    15 Year Cash-out Refi 5.87% 12/16/24
    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

    1,170

    Origination Dollar Volume (All Markets)

    $129,970,000
    Show all (13) 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
    ELIZABETHTOWN-FORT KNOX, KY (FHA|USDA|VA) 489 $59,815,000 $122,321 $1,983 4.76%
    LOUISVILLE, KY (FHA|USDA|VA) 172 $19,680,000 $114,419 $2,136 5.01%
    Outside of Metro Areas 162 $14,410,000 $88,951 $1,987 4.86%
    BOWLING GREEN, KY (FHA|USDA|VA) 77 $10,425,000 $135,390 $2,185 4.89%
    Danville, KY (FHA|USDA|VA) 102 $9,660,000 $94,706 $1,981 4.78%
    Bardstown, KY (FHA|USDA|VA) 87 $8,235,000 $94,655 $2,089 5.05%
    Campbellsville, KY (FHA|USDA|VA) 54 $4,580,000 $84,815 $2,004 4.77%
    LEXINGTON-FAYETTE, KY (FHA|USDA|VA) 12 $1,490,000 $124,167 $2,141 4.82%
    Glasgow, KY (FHA|USDA|VA) 6 $670,000 $111,667 $2,180 5.05%
    OWENSBORO, KY (FHA|USDA|VA) 3 $395,000 $131,667 $2,205 5.07%
    CLARKSVILLE, TN-KY (FHA|USDA|VA) 1 $245,000 $245,000 $2,493 4.13%
    CINCINNATI, OH-KY-IN (FHA|USDA|VA) 2 $140,000 $70,000 $2,102 4.69%
    Somerset, KY (FHA|USDA|VA) 1 $115,000 $115,000 $1,992 3.63%
    Richmond-Berea, KY (FHA|USDA|VA) 1 $55,000 $55,000 $0 4.75%
    Frankfort, KY (FHA|USDA|VA) 1 $55,000 $55,000 $0 4.25%
    Abound Federal Credit Union's top markets include Elizabethtown, Louisville, Bowling Green, Danville, and Bardstown 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.

    Bank of Edmonson County
    Similarity Rank: 104
    The Peoples Bank
    Similarity Rank: 120
    The Cecilian Bank
    Similarity Rank: 135
    Guardian Savings Bank, A Federal Savings Bank
    Similarity Rank: 162
    Morgantown Bank & Trust Company, Incorporated
    Similarity Rank: 168
    Edmonton State Bank
    Similarity Rank: 168
    COMMONWEALTH
    Similarity Rank: 345
    CLASS ACT FEDERAL CREDIT UNION
    Similarity Rank: 357
    First Harrison Bank
    Similarity Rank: 357
    Peoples Bank
    Similarity Rank: 455

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    HELOC 639 $39,935,000 $62,496 n/a 5.13%
    Conventional 529 $89,765,000 $169,688 $2,031 4.49%
    FHA 2 $270,000 $135,000 $0 4.75%

    For 2018, Abound Federal Credit Union's most frequently originated type of loan was HELOC, with 639 originations. Their 2nd most popular type was Conventional, with 529 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Improvement 347 $18,845,000 $54,308 $0 5.10%
    Home Purchase 326 $51,690,000 $158,558 $2,143 4.55%
    Other 194 $13,640,000 $70,309 $0 5.19%
    Cash Out Refi 167 $20,255,000 $121,287 $1,828 4.76%
    Refi 136 $25,540,000 $187,794 $1,921 4.50%

    For 2018, Abound Federal Credit Union's most frequently cited loan purpose was Home Improvement, with 347 originations. The 2nd most popular reason was Home Purchase, with 326 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    10 Year 652 $43,710,000 $67,040 $1,706 5.12%
    30 Year 350 $59,450,000 $169,857 $2,092 4.58%
    15 Year 97 $10,425,000 $107,474 $1,805 4.26%
    20 Year 39 $5,125,000 $131,410 $1,815 4.47%
    Other 22 $5,470,000 $248,636 $2,387 4.02%
    5 Year 10 $5,790,000 $579,000 $1,838 4.55%

    For 2018, Abound Federal Credit Union's most frequently cited loan duration was 10 Year, with 652 originations. The 2nd most popular length was 30 Year, with 350 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 485 $78,565,000 $161,990

    Abound Federal Credit Union's average total fees were $2,092, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 485 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    4-5% 847 $102,285,000 $120,762
    5-6% 162 $12,240,000 $75,556
    6-7% 82 $3,450,000 $42,073
    3-4% 67 $10,975,000 $163,806
    7-8% 11 $655,000 $59,545
    2.5-3% 1 $365,000 $365,000

    During 2018, Abound Federal Credit Union's average interest rate for loans was 4.58%, while their most frequently originated rate bucket for loans was 4-5%, with 847 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 701 $35,675,000 $50,892 $1,746 5.02%
    $100k-200k 306 $42,840,000 $140,000 $2,010 4.61%
    $200k-400k 148 $39,300,000 $265,541 $2,325 4.52%
    $400k-600k 9 $4,155,000 $461,667 $2,573 4.29%
    $1MM+ 3 $5,935,000 $1,978,333 $0 4.58%
    $600k-1MM 3 $2,065,000 $688,333 $3,164 4.67%

    2018 saw Abound Federal Credit Union place emphasis on $100,000 or less loans with 701 originations, totaling $35,675,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 292 $28,290,000 $96,884 $1,976 4.82%
    $50k or less 281 $21,055,000 $74,929 $1,853 4.80%
    $75k-100k 245 $24,995,000 $102,020 $2,095 4.88%
    $100k-150k 224 $29,030,000 $129,598 $2,183 4.88%
    $150k-250k 99 $14,465,000 $146,111 $2,315 4.85%
    $250k+ 16 $3,590,000 $224,375 $2,746 4.90%

    Abound Federal Credit Union lent most frequently to those with incomes in the $50k-75k range, with 292 originations. The second most popular income band? $50k or less, with 281 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 286 $31,120,000 $108,811 $2,017 4.68%
    30-36% 196 $22,500,000 $114,796 $2,098 4.79%
    <20% 142 $12,800,000 $90,141 $1,928 4.70%
    50-60% 114 $10,720,000 $94,035 $2,038 4.98%
    42% 47 $5,685,000 $120,957 $2,177 5.06%
    41% 42 $4,840,000 $115,238 $2,025 4.78%
    39% 41 $4,355,000 $106,220 $2,117 5.01%
    36% 37 $3,815,000 $103,108 $1,981 4.80%
    43% 34 $3,320,000 $97,647 $2,120 5.19%
    44% 32 $3,470,000 $108,438 $1,965 5.00%
    40% 31 $3,765,000 $121,452 $1,979 5.00%
    38% 28 $3,460,000 $123,571 $2,156 4.82%
    45% 27 $2,585,000 $95,741 $1,865 5.17%
    37% 25 $2,045,000 $81,800 $1,968 5.02%
    47% 19 $1,585,000 $83,421 $1,976 5.28%
    48% 19 $1,985,000 $104,474 $1,978 5.10%
    46% 16 $1,370,000 $85,625 $1,824 4.90%
    49% 13 $655,000 $50,385 $3,073 4.91%
    >60% 8 $1,350,000 $168,750 $0 5.06%

    Abound Federal Credit Union lent most frequently to those with DTI ratios of 20-30%, with 286 originations. The next most common DTI ratio? 30-36%, with 196 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 1,079 $114,275,000 $105,908 $2,032 4.84%
    Not applicable 13 $8,545,000 $657,308 $0 4.64%
    Black 49 $3,725,000 $76,020 $2,060 5.14%
    Asian 14 $1,610,000 $115,000 $1,897 4.59%
    Not provided 5 $675,000 $135,000 $2,079 4.53%
    American Indian 3 $505,000 $168,333 $1,893 4.46%
    Native Hawaiian or Islander 2 $310,000 $155,000 $0 5.38%
    Filipino 3 $195,000 $65,000 $0 4.42%
    Japanese 1 $75,000 $75,000 $0 4.50%
    Other Asian 1 $55,000 $55,000 $0 5.45%

    Approval Rates

    Total approvals of all applications
    83.79%

    Abound Federal Credit Union has a below average approval rate.

    Pick Rate

    Approvals leading to origination
    73.68%

    Abound Federal Credit Union has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 1,170 $129,970,000 $111,085

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Site-Built 10 $8,130,000 $813,000
    Single Family (1-4 Units):Manufactured 13 $835,000 $64,231
    Single Family (1-4 Units):Site-Built 1,147 $121,005,000 $105,497

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 283 $16,205,000 $57,261 $1,638 5.11%
    40-60% 131 $13,005,000 $99,275 $1,730 4.76%
    60-80% 195 $33,495,000 $171,769 $1,954 4.54%
    80-100% 336 $59,630,000 $177,470 $2,143 4.58%
    Under 20% 225 $7,635,000 $33,933 $1,699 5.20%