Aod Federal Credit Union Mortgage Rates, Fees & Info

Bynum, AL

LEI: 254900N59TICVY7K7T48

Tax ID: 63-0306292

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

    Aod Federal Credit Union is a smaller credit union specializing in Cash Out Refi and Home Purchase loans. Aod Federal Credit Union has a high proportion of conventional loans. Their top markets by origination volume include: Anniston, Talladega, Birmingham, Huntsville, and Gadsden among others. We have data for 10 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Aod Federal Credit Union has an average approval rate when compared to the average across all lenders. They have an average pick rate when compared to similar lenders. Aod 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
    30 Year Conventional Purchase 6.48% 5/4/24
    30 Year Conventional Refi 5.96% 5/4/24
    30 Year Cash-out Refi 6.02% 5/4/24
    15 Year Conventional Purchase 7.73% 5/4/24
    15 Year Conventional Refi 6.73% 5/4/24
    15 Year Cash-out Refi 6.73% 5/4/24
    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.

    Aod 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 Aod 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

    116

    Origination Dollar Volume (All Markets)

    $17,630,000

    Awards

    AOD Federal Credit Union 30 Year Conventional Loans silver AOD Federal Credit Union 30 Year Conventional Loans gold AOD Federal Credit Union 30 Year Conventional Loans gold
    Show all (3) 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
    ANNISTON-OXFORD, AL (FHA|USDA|VA) 76 $9,540,000 $125,526 $3,203 4.09%
    Talladega-Sylacauga, AL (FHA|USDA|VA) 13 $2,675,000 $205,769 $4,337 3.74%
    BIRMINGHAM-HOOVER, AL (FHA|USDA|VA) 9 $1,775,000 $197,222 $4,235 4.59%
    Outside of Metro Areas 8 $1,460,000 $182,500 $3,547 3.06%
    HUNTSVILLE, AL (FHA|USDA|VA) 2 $770,000 $385,000 $6,627 3.02%
    GADSDEN, AL (FHA|USDA|VA) 4 $600,000 $150,000 $3,552 4.43%
    Alexander City, AL (FHA|USDA|VA) 1 $305,000 $305,000 $5,444 2.99%
    ATLANTA-SANDY SPRINGS-ALPHARETTA, GA (FHA|USDA|VA) 1 $235,000 $235,000 $5,033 6.00%
    Fort Payne, AL (FHA|USDA|VA) 1 $175,000 $175,000 $3,957 2.99%
    TUSCALOOSA, AL (FHA|USDA|VA) 1 $95,000 $95,000 $2,651 2.99%
    Aod Federal Credit Union's top markets include Anniston, Talladega, Birmingham, Huntsville, and Gadsden among others.

    Their top states include:
  • Alabama (FHA|USDA|VA)
  • Georgia (FHA|USDA|VA)

    • Similar Lenders

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

    Heritage South Credit Union
    Similarity Rank: 25
    AOD Federal Credit Union
    Similarity Rank: 50
    ALABAMA TEACHERS
    Similarity Rank: 90
    SouthPoint Bank
    Similarity Rank: 1160
    Renasant Bank
    Similarity Rank: 1834
    HUNT MORTGAGE CORPORATION
    Similarity Rank: 1920
    FIRST COMMUNITY MORTGAGE, INC.
    Similarity Rank: 2552
    Truist
    Similarity Rank: 3005
    SOUTHWEST FUNDING, LP
    Similarity Rank: 5796
    NEW DAY FINANCIAL, LLC
    Similarity Rank: 6579

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 116 $17,630,000 $151,983 $3,529 4.00%

    For 2022, Aod Federal Credit Union's most frequently originated type of loan was Conventional, with 116 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Cash Out Refi 62 $9,940,000 $160,323 $3,605 3.96%
    Home Purchase 33 $5,065,000 $153,485 $3,660 4.54%
    Refi 19 $2,425,000 $127,632 $3,144 3.27%
    Home Improvement 2 $200,000 $100,000 $2,770 3.12%

    For 2022, Aod Federal Credit Union's most frequently cited loan purpose was Cash Out Refi, with 62 originations. The 2nd most popular reason was Home Purchase, with 33 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 76 $14,050,000 $184,868 $3,921 3.92%
    15 Year 22 $1,920,000 $87,273 $2,696 3.82%
    10 Year 11 $775,000 $70,455 $2,543 5.11%
    20 Year 6 $840,000 $140,000 $3,356 3.45%
    5 Year 1 $45,000 $45,000 $2,250 5.00%

    For 2022, Aod Federal Credit Union's most frequently cited loan duration was 30 Year, with 76 originations. The 2nd most popular length was 15 Year, with 22 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $1k-2k 48 $6,310,000 $131,458
    $<1k 33 $1,785,000 $54,091
    $2k-3k 25 $5,695,000 $227,800
    $3k-4k 7 $2,235,000 $319,286
    $5k+ 2 $1,230,000 $615,000
    $4k-5k 1 $375,000 $375,000

    Aod Federal Credit Union's average total fees were $3,921, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 48 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    2.5-3% 48 $8,250,000 $171,875
    4-5% 22 $3,190,000 $145,000
    3-4% 19 $3,545,000 $186,579
    5-6% 12 $1,490,000 $124,167
    6-7% 6 $450,000 $75,000
    Over 8% 4 $190,000 $47,500
    <2.5% 4 $480,000 $120,000
    7-8% 1 $35,000 $35,000

    During 2022, Aod Federal Credit Union's average interest rate for loans was 3.92%, while their most frequently originated rate bucket for loans was 2.5-3%, with 48 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100k-200k 44 $6,470,000 $147,045 $3,492 3.59%
    $100,000 or less 42 $2,570,000 $61,190 $2,415 4.76%
    $200k-400k 28 $7,360,000 $262,857 $4,807 3.52%
    $400k-600k 1 $595,000 $595,000 $9,232 3.04%
    $600k-1MM 1 $635,000 $635,000 $9,290 4.25%

    2022 saw Aod Federal Credit Union place emphasis on $100k-200k loans with 44 originations, totaling $6,470,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 41 $5,405,000 $131,829 $3,297 4.03%
    $50k or less 30 $2,600,000 $86,667 $2,678 4.38%
    $100k-150k 16 $3,560,000 $222,500 $4,322 3.62%
    $75k-100k 13 $1,675,000 $128,846 $3,421 3.92%
    $150k-250k 8 $2,300,000 $287,500 $5,079 3.47%
    $250k+ 5 $1,495,000 $299,000 $5,752 4.16%

    Aod Federal Credit Union lent most frequently to those with incomes in the $50k-75k range, with 41 originations. The second most popular income band? $50k or less, with 30 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 34 $5,590,000 $164,412 $3,763 3.72%
    30-36% 22 $3,270,000 $148,636 $3,485 4.20%
    <20% 17 $3,175,000 $186,765 $3,920 3.45%
    39% 7 $775,000 $110,714 $2,761 4.78%
    43% 6 $820,000 $136,667 $3,438 3.62%
    36% 5 $355,000 $71,000 $2,625 5.46%
    37% 5 $805,000 $161,000 $3,525 3.44%
    38% 5 $935,000 $187,000 $3,997 3.54%
    46% 3 $325,000 $108,333 $2,869 4.25%
    40% 2 $190,000 $95,000 $2,913 4.25%
    49% 2 $350,000 $175,000 $3,474 4.50%
    >60% 1 $215,000 $215,000 $4,047 2.99%
    41% 1 $255,000 $255,000 $5,084 5.75%
    42% 1 $195,000 $195,000 $3,862 2.99%
    44% 1 $135,000 $135,000 $3,092 5.25%
    45% 1 $25,000 $25,000 $2,115 6.50%
    47% 1 $45,000 $45,000 $2,431 8.25%
    48% 1 $95,000 $95,000 $3,156 2.74%
    50-60% 1 $75,000 $75,000 $2,675 4.25%

    Aod Federal Credit Union lent most frequently to those with DTI ratios of 20-30%, with 34 originations. The next most common DTI ratio? 30-36%, with 22 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 101 $15,975,000 $158,168 $3,624 3.90%
    Black 13 $1,225,000 $94,231 $2,702 4.88%
    Not provided 2 $430,000 $215,000 $4,178 3.12%

    Approval Rates

    Total approvals of all applications
    87.25%

    Aod Federal Credit Union has an average approval rate.

    Pick Rate

    Approvals leading to origination
    91.38%

    Aod Federal Credit Union has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 116 $17,630,000 $151,983

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    116 $17,630,000 $151,983

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 11 $655,000 $59,545 $2,339 4.18%
    40-60% 23 $3,015,000 $131,087 $3,375 3.88%
    60-80% 48 $9,330,000 $194,375 $3,975 3.49%
    80-100% 28 $4,400,000 $157,143 $3,646 4.32%
    Under 20% 6 $230,000 $38,333 $2,271 6.71%