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
  • 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

    Abound Federal Credit Union is a smaller credit union specializing in Refi, 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 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.

    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% 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






    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

    1,726

    Origination Dollar Volume (All Markets)

    $237,100,000
    Show all (7) 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) 792 $111,660,000 $140,985 $1,993 3.31%
    LOUISVILLE, KY (FHA|USDA|VA) 238 $36,830,000 $154,748 $2,131 3.56%
    Outside of Metro Areas 228 $27,170,000 $119,167 $1,966 3.44%
    BOWLING GREEN, KY (FHA|USDA|VA) 118 $18,270,000 $154,831 $2,258 3.60%
    Bardstown, KY (FHA|USDA|VA) 145 $17,775,000 $122,586 $1,940 3.47%
    Danville, KY (FHA|USDA|VA) 82 $9,280,000 $113,171 $1,988 3.28%
    Campbellsville, KY (FHA|USDA|VA) 59 $6,375,000 $108,051 $2,251 3.44%
    LEXINGTON-FAYETTE, KY (FHA|USDA|VA) 17 $3,245,000 $190,882 $2,267 3.23%
    Glasgow, KY (FHA|USDA|VA) 22 $2,890,000 $131,364 $1,933 3.14%
    Frankfort, KY (FHA|USDA|VA) 9 $1,265,000 $140,556 $1,971 3.17%
    OWENSBORO, KY (FHA|USDA|VA) 6 $950,000 $158,333 $2,180 4.00%
    Somerset, KY (FHA|USDA|VA) 4 $510,000 $127,500 $2,091 3.09%
    CINCINNATI, OH-KY-IN (FHA|USDA|VA) 2 $350,000 $175,000 $1,785 2.81%
    Paducah, KY-IL (FHA|USDA|VA) 2 $270,000 $135,000 $1,787 2.94%
    HUNTINGTON-ASHLAND, WV-KY-OH (FHA|USDA|VA) 1 $165,000 $165,000 $0 5.00%
    Madison, IN (FHA|USDA|VA) 1 $95,000 $95,000 $1,769 2.38%
    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.

    MORTGAGE SUPPLIERS, INC.
    Similarity Rank: 51
    SERVICE ONE
    Similarity Rank: 154
    Morgantown Bank & Trust Company, Incorporated
    Similarity Rank: 186
    Edmonton State Bank
    Similarity Rank: 204
    The Cecilian Bank
    Similarity Rank: 270
    COMMONWEALTH
    Similarity Rank: 625
    First Harrison Bank
    Similarity Rank: 980
    TRANSCEND
    Similarity Rank: 1395
    Centra Credit Union
    Similarity Rank: 1739
    Central Bank
    Similarity Rank: 1932

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 1,101 $189,875,000 $172,457 $2,015 3.10%
    HELOC 621 $46,385,000 $74,694 n/a 3.92%
    VA 4 $840,000 $210,000 $5,066 2.78%

    For 2020, Abound Federal Credit Union's most frequently originated type of loan was Conventional, with 1,101 originations. Their 2nd most popular type was HELOC, with 621 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Refi 530 $87,820,000 $165,698 $1,932 3.05%
    Cash Out Refi 475 $63,905,000 $134,537 $1,941 3.32%
    Home Purchase 369 $65,745,000 $178,171 $2,256 3.42%
    Home Improvement 239 $13,015,000 $54,456 $0 3.89%
    Other 113 $6,615,000 $58,540 $0 4.24%

    For 2020, Abound Federal Credit Union's most frequently cited loan purpose was Refi, with 530 originations. The 2nd most popular reason was Cash Out Refi, with 475 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    10 Year 640 $49,770,000 $77,766 $1,646 3.92%
    30 Year 564 $107,510,000 $190,621 $2,142 3.36%
    15 Year 392 $56,010,000 $142,883 $1,863 2.66%
    20 Year 101 $15,795,000 $156,386 $1,840 3.12%
    Other 24 $6,730,000 $280,417 $3,031 3.64%
    5 Year 5 $1,285,000 $257,000 $1,407 3.12%

    For 2020, Abound Federal Credit Union's most frequently cited loan duration was 10 Year, with 640 originations. The 2nd most popular length was 30 Year, with 564 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 1,081 $185,315,000 $171,429
    $1k-2k 3 $505,000 $168,333
    $3k-4k 1 $335,000 $335,000

    Abound Federal Credit Union's average total fees were $2,142, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 1,081 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    3-4% 761 $120,135,000 $157,865
    2.5-3% 544 $74,840,000 $137,574
    <2.5% 168 $23,020,000 $137,024
    4-5% 168 $14,550,000 $86,607
    5-6% 62 $3,470,000 $55,968
    6-7% 23 $1,085,000 $47,174

    During 2020, Abound Federal Credit Union's average interest rate for loans was 3.36%, while their most frequently originated rate bucket for loans was 3-4%, with 761 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 728 $40,850,000 $56,113 $1,762 3.64%
    $100k-200k 635 $89,525,000 $140,984 $1,962 3.22%
    $200k-400k 328 $87,260,000 $266,037 $2,265 3.19%
    $400k-600k 28 $13,470,000 $481,071 $2,961 3.42%
    $600k-1MM 5 $3,565,000 $713,000 $3,086 3.68%
    $1MM+ 2 $2,430,000 $1,215,000 $3,009 3.38%

    2020 saw Abound Federal Credit Union place emphasis on $100,000 or less loans with 728 originations, totaling $40,850,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 407 $68,155,000 $167,457 $2,136 3.38%
    $50k-75k 403 $46,195,000 $114,628 $1,976 3.40%
    $75k-100k 336 $42,900,000 $127,679 $1,999 3.37%
    $50k or less 328 $30,370,000 $92,591 $1,886 3.36%
    $150k-250k 173 $33,385,000 $192,977 $2,240 3.47%
    $250k+ 31 $8,765,000 $282,742 $2,611 3.51%

    Abound Federal Credit Union lent most frequently to those with incomes in the $100k-150k range, with 407 originations. The second most popular income band? $50k-75k, with 403 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 462 $66,230,000 $143,355 $1,986 3.29%
    30-36% 360 $48,990,000 $136,083 $2,013 3.35%
    <20% 219 $25,595,000 $116,872 $1,924 3.21%
    50-60% 87 $8,835,000 $101,552 $2,329 3.89%
    37% 60 $9,430,000 $157,167 $2,118 3.42%
    39% 59 $9,165,000 $155,339 $2,313 3.36%
    38% 55 $8,465,000 $153,909 $2,095 3.42%
    40% 55 $7,825,000 $142,273 $2,117 3.35%
    36% 47 $7,485,000 $159,255 $2,002 3.58%
    43% 47 $5,855,000 $124,574 $2,226 3.76%
    41% 44 $5,740,000 $130,455 $1,993 3.37%
    42% 42 $6,490,000 $154,524 $2,163 3.51%
    44% 40 $7,230,000 $180,750 $1,952 3.37%
    45% 31 $4,245,000 $136,935 $2,074 3.65%
    46% 29 $3,135,000 $108,103 $2,072 3.67%
    48% 25 $3,005,000 $120,200 $2,014 3.51%
    47% 24 $2,970,000 $123,750 $1,923 3.60%
    49% 13 $1,935,000 $148,846 $2,242 3.43%
    >60% 13 $1,445,000 $111,154 $2,329 3.61%

    Abound Federal Credit Union lent most frequently to those with DTI ratios of 20-30%, with 462 originations. The next most common DTI ratio? 30-36%, with 360 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 1,612 $220,220,000 $136,613 $2,025 3.39%
    Black 62 $8,970,000 $144,677 $2,140 3.63%
    Not applicable 10 $2,650,000 $265,000 $0 4.20%
    Asian 15 $2,495,000 $166,333 $2,016 3.21%
    Not provided 16 $1,780,000 $111,250 $1,832 2.97%
    Native Hawaiian or Islander 1 $315,000 $315,000 $2,774 3.75%
    Korean 3 $175,000 $58,333 $0 3.17%
    American Indian 2 $140,000 $70,000 $0 4.25%
    Other Pacific Islander 2 $120,000 $60,000 $1,960 3.44%
    Samoan 1 $85,000 $85,000 $0 3.50%
    Filipino 1 $85,000 $85,000 $1,767 2.38%
    Vietnamese 1 $65,000 $65,000 $0 3.50%

    Approval Rates

    Total approvals of all applications
    85.61%

    Abound Federal Credit Union has an average approval rate.

    Pick Rate

    Approvals leading to origination
    70.92%

    Abound Federal Credit Union has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 1,726 $237,100,000 $137,370

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Site-Built 4 $2,280,000 $570,000
    Single Family (1-4 Units):Manufactured 29 $2,675,000 $92,241
    Single Family (1-4 Units):Site-Built 1,693 $232,145,000 $137,120

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 297 $20,565,000 $69,242 $1,747 3.65%
    40-60% 274 $32,800,000 $119,708 $1,847 3.09%
    60-80% 454 $77,690,000 $171,123 $1,925 3.10%
    80-100% 464 $95,960,000 $206,810 $2,221 3.38%
    Over 100% 2 $560,000 $280,000 $6,240 3.75%
    Under 20% 235 $9,525,000 $40,532 $1,626 4.03%

    Complaints

    Bank Name Product Issue 2020 CPFB Complaints % of Total Issues
    Avantus, LLC FHA mortgage Incorrect information on your report 1 100.0%