Apple Federal Credit Union Mortgage Rates, Fees & InfoFairfax, VA
Tax ID: 54-0629628
Latest/2022 | 2021 Data | 2020 Data | 2019 Data | 2018 Data
Review & OverviewApple Federal Credit Union is a smaller credit union specializing in Home Improvement and Home Purchase loans. Apple Federal Credit Union has a high proportion of conventional loans. Their top markets by origination volume include: Washington, Winchester, Hagerstown, Baltimore, and Richmond among others. We have data for 25 markets. (Some data included below & more in-depth data is available with an active subscription.)
Apple 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. Apple Federal Credit Union is typically an average 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.
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|Simulated Rate||Simulation Date|
|30 Year Conventional Purchase||6.45%||3/31/23|
|30 Year Conventional Refi||6.13%||3/31/23|
|30 Year Cash-out Refi||6.36%||3/31/23|
|15 Year Conventional Purchase||6.02%||3/31/23|
|15 Year Conventional Refi||5.67%||3/31/23|
|15 Year Cash-out Refi||5.67%||3/31/23|
|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.|
Origination Dollar Volume (All Markets)$273,590,000
Apple Federal Credit Union's average 30 year fixed mortgage rate was
The 2022 average 30 year fixed rate mortgage across all markets and lenders was 4.76%.
This yields a difference of 0.29%.
Relative Fees (Closing Costs)
Apple Federal Credit Union's average total fees/closing costs for a 30 year fixed rate
mortgage were $7,667.
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.
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|
|Washington-Arlington-Alexandria, DC-VA-MD-WV (FHA|USDA|VA)||1,397||$235,915,000||$168,873||$7,270||5.13%|
|WINCHESTER, VA-WV (FHA|USDA|VA)||113||$14,685,000||$129,956||$6,186||5.11%|
|Outside of Metro Areas||26||$4,270,000||$164,231||$5,488||4.35%|
|HAGERSTOWN-MARTINSBURG, MD-WV (FHA|USDA|VA)||30||$3,780,000||$126,000||$6,865||5.31%|
|BALTIMORE-COLUMBIA-TOWSON, MD (FHA|USDA|VA)||18||$2,620,000||$145,556||$6,433||5.64%|
|RICHMOND, VA (FHA|USDA|VA)||14||$2,370,000||$169,286||$4,053||5.78%|
|VIRGINIA BEACH-NORFOLK-NEWPORT NEWS, VA-NC (FHA|USDA|VA)||10||$2,060,000||$206,000||$4,562||5.34%|
|RALEIGH-CARY, NC (FHA|USDA|VA)||6||$1,970,000||$328,333||$7,859||4.16%|
|CHARLOTTESVILLE, VA (FHA|USDA|VA)||3||$1,095,000||$365,000||$6,339||5.63%|
|DURHAM-CHAPEL HILL, NC (FHA|USDA|VA)||3||$775,000||$258,333||$5,640||5.86%|
|WILMINGTON, NC (FHA|USDA|VA)||4||$740,000||$185,000||$3,175||4.96%|
|Morehead City, NC (FHA|USDA|VA)||1||$435,000||$435,000||$0||5.00%|
|CHARLOTTE-CONCORD-GASTONIA, NC-SC (FHA|USDA|VA)||3||$395,000||$131,667||$0||5.82%|
|Kill Devil Hills, NC (FHA|USDA|VA)||4||$390,000||$97,500||$8,308||4.52%|
|ROANOKE, VA (FHA|USDA|VA)||2||$270,000||$135,000||$2,865||5.06%|
|LYNCHBURG, VA (FHA|USDA|VA)||2||$270,000||$135,000||$8,734||5.43%|
|ROCKY MOUNT, NC (FHA|USDA|VA)||2||$230,000||$115,000||$5,216||3.50%|
|WINSTON-SALEM, NC (FHA|USDA|VA)||1||$225,000||$225,000||$8,859||4.75%|
|BLACKSBURG-CHRISTIANSBURG, VA (FHA|USDA|VA)||1||$205,000||$205,000||$4,324||4.63%|
|CHARLESTON, WV (FHA|USDA|VA)||1||$185,000||$185,000||$5,815||4.75%|
|STAUNTON, VA (FHA|USDA|VA)||1||$185,000||$185,000||$3,429||6.75%|
|JACKSONVILLE, NC (FHA|USDA|VA)||1||$165,000||$165,000||$5,453||4.75%|
|MYRTLE BEACH-CONWAY-NORTH MYRTLE BEACH, SC-NC (FHA|USDA|VA)||1||$155,000||$155,000||$0||3.99%|
|HARRISONBURG, VA (FHA|USDA|VA)||1||$155,000||$155,000||$0||3.99%|
|SALISBURY, MD-DE (FHA|USDA|VA)||1||$45,000||$45,000||$0||5.24%|
We use machine learning to identify the top lenders compared against Apple 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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|Loan Type||Originations||Total Value||Avg. Loan||Avg. Fees||Avg. Rate|
For 2022, Apple Federal Credit Union's most frequently originated type of loan was HELOC, with 862 originations. Their 2nd most popular type was Conventional, with 784 originations.
For 2022, Apple Federal Credit Union's most frequently cited loan purpose was Home Improvement, with 802 originations. The 2nd most popular reason was Other, with 404 originations.
For 2022, Apple Federal Credit Union's most frequently cited loan duration was 30 Year, with 1,208 originations. The 2nd most popular length was 15 Year, with 229 originations.
Origination Fees/Closing Costs
|Origination Fee/Closing Cost||Originations||Total Value||Average Loan|
Apple Federal Credit Union's average total fees were $7,667, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 404 originations.
During 2022, Apple Federal Credit Union's average interest rate for loans was 5.05%, while their most frequently originated rate bucket for loans was 4-5%, with 460 originations.
2022 saw Apple Federal Credit Union place emphasis on $100,000 or less loans with 718 originations, totaling $39,850,000 in origination value.
Apple Federal Credit Union lent most frequently to those with incomes in the $150k-250k range, with 512 originations. The second most popular income band? $100k-150k, with 504 originations.
Applicant Debt to Income Ratio
Apple Federal Credit Union lent most frequently to those with DTI ratios of 20-30%, with 378 originations. The next most common DTI ratio? 30-36%, with 311 originations.
Approval RatesTotal approvals of all applications
Apple Federal Credit Union has a below average approval rate.
Pick RateApprovals leading to origination
Apple Federal Credit Union has a below average pick rate.
Points and Fees
|Points||Originations||Total Value||Average Loan|