Abound Federal Credit Union Mortgage Rates, Fees & Info
Radcliff, KYLEI: 254900LEJ4HP6RMWD374
Tax ID: 61-0549068
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Mortgage Data
Review & Overview
Abound Federal Credit Union is a smaller credit union specializing in Home Purchase and Refi loans. Abound Federal Credit Union has a high proportion of conventional loans. Their top markets by origination volume include: Elizabethtown, Louisville, Bowling Green, Danville, and Bardstown among others. We have data for 16 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.
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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| Home Equity Line of Credit (HELOC) | 5.37% | 4/21/24 |
| 30 Year Conventional Purchase | 6.64% | 4/21/24 |
| 30 Year Conventional Refi | 6.46% | 4/21/24 |
| 30 Year Cash-out Refi | 6.77% | 4/21/24 |
| 30 Year VA Purchase | 5.93% | 4/21/24 |
| 15 Year Conventional Purchase | 5.59% | 4/21/24 |
| 15 Year Conventional Refi | 5.87% | 4/21/24 |
| 15 Year Cash-out Refi | 5.87% | 4/21/24 |
| 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
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This is not an official calculator from Abound Federal Credit Union. It uses our SimulatedRate™
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
1,312Origination Dollar Volume (All Markets)
$144,070,000Awards
Abound Federal Credit Union - 2019
Abound Federal Credit Union is a 2019 , due to their low .
For 2019, less than of lenders were eligible for this award.
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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) | 580 | $66,330,000 | $114,362 | $2,150 | 4.89% |
| LOUISVILLE, KY (FHA|USDA|VA) | 161 | $22,275,000 | $138,354 | $2,313 | 5.14% |
| Outside of Metro Areas | 176 | $13,750,000 | $78,125 | $1,961 | 5.12% |
| BOWLING GREEN, KY (FHA|USDA|VA) | 113 | $13,045,000 | $115,442 | $2,220 | 5.25% |
| Danville, KY (FHA|USDA|VA) | 93 | $8,425,000 | $90,591 | $2,039 | 5.19% |
| Bardstown, KY (FHA|USDA|VA) | 85 | $8,165,000 | $96,059 | $2,088 | 5.26% |
| Campbellsville, KY (FHA|USDA|VA) | 67 | $6,565,000 | $97,985 | $2,024 | 5.03% |
| LEXINGTON-FAYETTE, KY (FHA|USDA|VA) | 11 | $2,085,000 | $189,545 | $2,333 | 4.40% |
| Glasgow, KY (FHA|USDA|VA) | 13 | $1,205,000 | $92,692 | $1,699 | 5.23% |
| INDIANAPOLIS-CARMEL-ANDERSON, IN (FHA|USDA|VA) | 2 | $690,000 | $345,000 | $2,204 | 4.38% |
| Richmond-Berea, KY (FHA|USDA|VA) | 3 | $415,000 | $138,333 | $2,086 | 4.92% |
| OWENSBORO, KY (FHA|USDA|VA) | 2 | $300,000 | $150,000 | $2,314 | 4.38% |
| Frankfort, KY (FHA|USDA|VA) | 1 | $285,000 | $285,000 | $2,506 | 4.25% |
| Somerset, KY (FHA|USDA|VA) | 3 | $275,000 | $91,667 | $3,053 | 5.78% |
| London, KY (FHA|USDA|VA) | 1 | $185,000 | $185,000 | $3,598 | 4.50% |
| CLARKSVILLE, TN-KY (FHA|USDA|VA) | 1 | $75,000 | $75,000 | $1,975 | 3.88% |
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 | 737 | $45,755,000 | $62,083 | n/a | 5.76% |
| Conventional | 572 | $97,460,000 | $170,385 | $2,099 | 4.10% |
| VA | 3 | $855,000 | $285,000 | $8,039 | 3.17% |
For 2019, Abound Federal Credit Union's most frequently originated type of loan was HELOC, with 737 originations. Their 2nd most popular type was Conventional, with 572 originations.
Loan Reason
For 2019, Abound Federal Credit Union's most frequently cited loan purpose was Home Improvement, with 356 originations. The 2nd most popular reason was Home Purchase, with 349 originations.
Loan Duration/Length
For 2019, Abound Federal Credit Union's most frequently cited loan duration was 10 Year, with 752 originations. The 2nd most popular length was 30 Year, with 408 originations.
Origination Fees/Closing Costs
| Origination Fee/Closing Cost | Originations | Total Value | Average Loan |
|---|---|---|---|
| $<1k | 549 | $89,835,000 | $163,634 |
| $2k-3k | 2 | $530,000 | $265,000 |
| $3k-4k | 1 | $325,000 | $325,000 |
Abound Federal Credit Union's average total fees were $2,153, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 549 originations.
Interest Rates
During 2019, Abound Federal Credit Union's average interest rate for loans was 4.15%, while their most frequently originated rate bucket for loans was 5-6%, with 544 originations.
Loan Sizing
2019 saw Abound Federal Credit Union place emphasis on $100,000 or less loans with 768 originations, totaling $38,180,000 in origination value.
Applicant Income
Abound Federal Credit Union lent most frequently to those with incomes in the $50k-75k range, with 375 originations. The second most popular income band? $75k-100k, with 283 originations.
Applicant Debt to Income Ratio
Abound Federal Credit Union lent most frequently to those with DTI ratios of 20-30%, with 282 originations. The next most common DTI ratio? 30-36%, with 268 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications83.76%
Abound Federal Credit Union has a below average approval rate.
Pick Rate
Approvals leading to origination77.29%
Abound Federal Credit Union has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 1,312 | $144,070,000 | $109,809 |