Apple Federal Credit Union Mortgage Rates, Fees & Info
Fairfax, VALEI: 254900NZCGMT6517BA94
Tax ID: 54-0629628
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Mortgage Data
Review & Overview
Apple 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, Richmond, Hagerstown, and Virginia Beach among others. We have data for 26 markets. (Some data included below & more in-depth data is available with an active subscription.)Apple Federal Credit Union has a below 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 relatively high 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 |
|---|---|---|
| 30 Year Conventional Purchase | 6.45% | 11/17/24 |
| 30 Year Conventional Refi | 6.13% | 11/17/24 |
| 30 Year Cash-out Refi | 6.36% | 11/17/24 |
| 15 Year Conventional Purchase | 6.02% | 11/17/24 |
| 15 Year Conventional Refi | 5.67% | 11/17/24 |
| 15 Year Cash-out Refi | 5.67% | 11/17/24 |
| 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. | ||
Apple 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 Apple 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
1,089Origination Dollar Volume (All Markets)
$174,195,000Relative Rate
Apple Federal Credit Union's average 30 year fixed mortgage rate was
8.08%.
The 2023 average 30 year fixed rate mortgage across all markets and lenders was 6.48%.
This yields a difference of 1.6%.
Relative Fees (Closing Costs)
Apple Federal Credit Union's average total fees/closing costs for a 30 year fixed rate
mortgage were $6,479.
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 $9,089.
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 |
|---|---|---|---|---|---|
| Washington-Arlington-Alexandria, DC-VA-MD-WV (FHA|USDA|VA) | 873 | $143,675,000 | $164,576 | $6,357 | 8.11% |
| WINCHESTER, VA-WV (FHA|USDA|VA) | 91 | $9,685,000 | $106,429 | $5,200 | 8.05% |
| Outside of Metro Areas | 33 | $4,285,000 | $129,848 | $4,657 | 7.84% |
| RICHMOND, VA (FHA|USDA|VA) | 17 | $2,925,000 | $172,059 | $7,093 | 7.65% |
| HAGERSTOWN-MARTINSBURG, MD-WV (FHA|USDA|VA) | 22 | $2,490,000 | $113,182 | $9,247 | 8.17% |
| VIRGINIA BEACH-NORFOLK-NEWPORT NEWS, VA-NC (FHA|USDA|VA) | 6 | $2,060,000 | $343,333 | $4,961 | 5.96% |
| CHARLOTTESVILLE, VA (FHA|USDA|VA) | 6 | $1,640,000 | $273,333 | $6,657 | 7.06% |
| BALTIMORE-COLUMBIA-TOWSON, MD (FHA|USDA|VA) | 9 | $1,455,000 | $161,667 | $5,432 | 8.15% |
| RALEIGH-CARY, NC (FHA|USDA|VA) | 6 | $1,390,000 | $231,667 | $0 | 7.43% |
| CHARLOTTE-CONCORD-GASTONIA, NC-SC (FHA|USDA|VA) | 4 | $780,000 | $195,000 | $7,101 | 7.87% |
| MYRTLE BEACH-CONWAY-NORTH MYRTLE BEACH, SC-NC (FHA|USDA|VA) | 5 | $605,000 | $121,000 | $3,238 | 7.90% |
| Kill Devil Hills, NC (FHA|USDA|VA) | 1 | $475,000 | $475,000 | $0 | 5.75% |
| ROANOKE, VA (FHA|USDA|VA) | 1 | $465,000 | $465,000 | $0 | 7.63% |
| GOLDSBORO, NC (FHA|USDA|VA) | 2 | $410,000 | $205,000 | $7,583 | 6.81% |
| WINSTON-SALEM, NC (FHA|USDA|VA) | 2 | $350,000 | $175,000 | $0 | 7.12% |
| Morehead City, NC (FHA|USDA|VA) | 1 | $265,000 | $265,000 | $8,747 | 6.88% |
| SALISBURY, MD-DE (FHA|USDA|VA) | 1 | $255,000 | $255,000 | $0 | 9.24% |
| BLACKSBURG-CHRISTIANSBURG, VA (FHA|USDA|VA) | 1 | $205,000 | $205,000 | $3,451 | 6.13% |
| STAUNTON, VA (FHA|USDA|VA) | 1 | $205,000 | $205,000 | $3,682 | 6.13% |
| Martinsville, VA (FHA|USDA|VA) | 1 | $175,000 | $175,000 | $0 | 8.49% |
| CHARLESTON, WV (FHA|USDA|VA) | 1 | $115,000 | $115,000 | $5,675 | 6.13% |
| Fairmont, WV (FHA|USDA|VA) | 1 | $105,000 | $105,000 | $0 | 6.13% |
| WILMINGTON, NC (FHA|USDA|VA) | 1 | $75,000 | $75,000 | $0 | 9.24% |
| Forest City, NC (FHA|USDA|VA) | 1 | $55,000 | $55,000 | $0 | 9.00% |
| DURHAM-CHAPEL HILL, NC (FHA|USDA|VA) | 1 | $35,000 | $35,000 | $0 | 8.49% |
| Easton, MD (FHA|USDA|VA) | 1 | $15,000 | $15,000 | $0 | 8.99% |
Similar Lenders
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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Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| HELOC | 571 | $58,785,000 | $102,951 | n/a | 8.68% |
| Conventional | 518 | $115,410,000 | $222,799 | $6,170 | 7.37% |
For 2023, Apple Federal Credit Union's most frequently originated type of loan was HELOC, with 571 originations. Their 2nd most popular type was Conventional, with 518 originations.
Loan Reason
For 2023, Apple Federal Credit Union's most frequently cited loan purpose was Home Improvement, with 575 originations. The 2nd most popular reason was Other, with 294 originations.
Loan Duration/Length
For 2023, Apple Federal Credit Union's most frequently cited loan duration was 30 Year, with 774 originations. The 2nd most popular length was 15 Year, with 135 originations.
Origination Fees/Closing Costs
Apple Federal Credit Union's average total fees were $6,479, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 320 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| Over 8% | 637 | $62,705,000 | $98,438 |
| 7-8% | 213 | $24,505,000 | $115,047 |
| 6-7% | 162 | $52,550,000 | $324,383 |
| 5-6% | 77 | $34,435,000 | $447,208 |
During 2023, Apple Federal Credit Union's average interest rate for loans was 8.08%, while their most frequently originated rate bucket for loans was Over 8%, with 637 originations.
Loan Sizing
2023 saw Apple Federal Credit Union place emphasis on $100,000 or less loans with 544 originations, totaling $29,710,000 in origination value.
Applicant Income
Apple Federal Credit Union lent most frequently to those with incomes in the $150k-250k range, with 347 originations. The second most popular income band? $100k-150k, with 342 originations.
Applicant Debt to Income Ratio
Apple Federal Credit Union lent most frequently to those with DTI ratios of 30-36%, with 217 originations. The next most common DTI ratio? 20-30%, with 205 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications69.51%
Apple Federal Credit Union has a low approval rate. They may have poor market targeting or stringent lending standards.
Pick Rate
Approvals leading to origination73.74%
Apple Federal Credit Union has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 1,089 | $174,195,000 | $159,959 |