Apple Federal Credit Union Mortgage Rates, Fees & Info

Fairfax, VA

LEI: 254900NZCGMT6517BA94

Tax ID: 54-0629628

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

    Apple Federal Credit Union is a smaller credit union specializing in Refi and Cash Out Refi loans. Apple Federal Credit Union has a high proportion of conventional loans. Their top markets by origination volume include: Washington, Winchester, Baltimore, Virginia Beach, and Hagerstown among others. We have data for 22 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 a high 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 6.45% 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

    1,392

    Origination Dollar Volume (All Markets)

    $363,150,000

    Awards

    Apple Federal Credit Union 30 Year Conventional Loans bronze
    Show all (1) 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
    Washington-Arlington-Alexandria, DC-VA-MD-WV (FHA|USDA|VA) 1,212 $324,610,000 $267,830 $6,500 3.58%
    WINCHESTER, VA-WV (FHA|USDA|VA) 89 $16,755,000 $188,258 $1,186 3.55%
    BALTIMORE-COLUMBIA-TOWSON, MD (FHA|USDA|VA) 11 $3,485,000 $316,818 $14,590 2.97%
    Outside of Metro Areas 15 $3,135,000 $209,000 $10,353 3.29%
    VIRGINIA BEACH-NORFOLK-NEWPORT NEWS, VA-NC (FHA|USDA|VA) 10 $2,630,000 $263,000 $6,228 2.96%
    HAGERSTOWN-MARTINSBURG, MD-WV (FHA|USDA|VA) 15 $2,405,000 $160,333 $5,287 3.35%
    CHARLOTTESVILLE, VA (FHA|USDA|VA) 6 $2,220,000 $370,000 $0 2.63%
    RICHMOND, VA (FHA|USDA|VA) 9 $2,035,000 $226,111 $0 3.51%
    RALEIGH-CARY, NC (FHA|USDA|VA) 4 $1,530,000 $382,500 $0 3.13%
    CHARLOTTE-CONCORD-GASTONIA, NC-SC (FHA|USDA|VA) 4 $1,150,000 $287,500 $1,075 3.95%
    ASHEVILLE, NC (FHA|USDA|VA) 1 $455,000 $455,000 $15,579 2.88%
    HARRISONBURG, VA (FHA|USDA|VA) 3 $415,000 $138,333 $5,609 2.67%
    ROANOKE, VA (FHA|USDA|VA) 3 $405,000 $135,000 $0 3.32%
    MYRTLE BEACH-CONWAY-NORTH MYRTLE BEACH, SC-NC (FHA|USDA|VA) 1 $385,000 $385,000 $0 3.00%
    WILMINGTON, NC (FHA|USDA|VA) 1 $325,000 $325,000 $0 3.38%
    LYNCHBURG, VA (FHA|USDA|VA) 2 $290,000 $145,000 $0 3.25%
    Henderson, NC (FHA|USDA|VA) 1 $275,000 $275,000 $0 3.00%
    FAYETTEVILLE, NC (FHA|USDA|VA) 1 $185,000 $185,000 $0 2.38%
    Bluefield, WV-VA (FHA|USDA|VA) 1 $155,000 $155,000 $0 2.25%
    JACKSONVILLE, NC (FHA|USDA|VA) 1 $145,000 $145,000 $7,501 2.63%
    STAUNTON, VA (FHA|USDA|VA) 1 $105,000 $105,000 $0 2.38%
    GREENVILLE, NC (FHA|USDA|VA) 1 $55,000 $55,000 $0 4.99%
    Apple Federal Credit Union's top markets include Washington, Winchester, Baltimore, Virginia Beach, and Hagerstown among others.

    Their top states include:
  • Virginia (FHA|USDA|VA)
  • Maryland (FHA|USDA|VA)
  • North Carolina (FHA|USDA|VA)
  • West Virginia (FHA|USDA|VA)
  • District of Columbia (FHA|USDA|VA)

    • 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.

    Poli Mortgage Group, Inc.
    Similarity Rank: 1100
    Beeline Loans, Inc.
    Similarity Rank: 1505
    Kwik Mortgage Corporation
    Similarity Rank: 1602
    IDB Global Federal Credit Union
    Similarity Rank: 1782
    VILLAGE BANK MORTGAGE CORPORATION
    Similarity Rank: 1920
    LOANFLIGHT LENDING, LLC
    Similarity Rank: 2052
    Credence Funding Corporation
    Similarity Rank: 2400
    ACNB Bank
    Similarity Rank: 2450
    UNIVERSITY OF VIRGINIA COMMUNITY CREDIT UNION,INC.
    Similarity Rank: 2842
    U S WIDE FINANCIAL LLC
    Similarity Rank: 2964

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 1,148 $341,350,000 $297,343 $6,618 3.32%
    HELOC 244 $21,800,000 $89,344 n/a 4.66%

    For 2020, Apple Federal Credit Union's most frequently originated type of loan was Conventional, with 1,148 originations. Their 2nd most popular type was HELOC, with 244 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Refi 539 $181,135,000 $336,058 $7,855 2.91%
    Home Improvement 253 $18,385,000 $72,668 $1,257 4.95%
    Cash Out Refi 251 $79,955,000 $318,546 $12,146 2.95%
    Home Purchase 192 $70,340,000 $366,354 $11,545 3.14%
    Other 157 $13,335,000 $84,936 $1,298 5.00%

    For 2020, Apple Federal Credit Union's most frequently cited loan purpose was Refi, with 539 originations. The 2nd most popular reason was Home Improvement, with 253 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 836 $240,630,000 $287,835 $11,741 3.54%
    15 Year 316 $74,530,000 $235,854 $4,362 3.52%
    10 Year 121 $18,285,000 $151,116 $2,607 3.84%
    20 Year 86 $27,690,000 $321,977 $7,979 3.05%
    5 Year 33 $2,015,000 $61,061 $1,228 4.64%

    For 2020, Apple Federal Credit Union's most frequently cited loan duration was 30 Year, with 836 originations. The 2nd most popular length was 15 Year, with 316 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 352 $62,090,000 $176,392
    $5k+ 275 $122,055,000 $443,836
    $2k-3k 142 $41,950,000 $295,423
    $3k-4k 139 $44,755,000 $321,978
    $1k-2k 128 $32,440,000 $253,438
    $4k-5k 108 $35,930,000 $332,685

    Apple Federal Credit Union's average total fees were $11,741, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 352 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    3-4% 476 $141,050,000 $296,324
    2.5-3% 408 $141,340,000 $346,422
    4-5% 188 $15,140,000 $80,532
    <2.5% 175 $55,595,000 $317,686
    5-6% 98 $6,000,000 $61,224
    6-7% 47 $4,025,000 $85,638

    During 2020, Apple Federal Credit Union's average interest rate for loans was 3.54%, while their most frequently originated rate bucket for loans was 3-4%, with 476 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 551 $165,055,000 $299,555 $9,763 3.05%
    $100,000 or less 314 $16,320,000 $51,975 $1,263 4.89%
    $100k-200k 273 $39,545,000 $144,853 $4,778 3.62%
    $400k-600k 189 $90,995,000 $481,455 $14,786 2.92%
    $600k-1MM 61 $45,615,000 $747,787 $0 2.96%
    $1MM+ 4 $5,620,000 $1,405,000 $0 2.63%

    2020 saw Apple Federal Credit Union place emphasis on $200k-400k loans with 551 originations, totaling $165,055,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $150k-250k 420 $117,170,000 $278,976 $6,134 3.69%
    $100k-150k 375 $89,445,000 $238,520 $6,215 3.61%
    $75k-100k 233 $48,755,000 $209,249 $5,955 3.49%
    $50k-75k 165 $32,665,000 $197,970 $8,553 3.32%
    $250k+ 136 $61,710,000 $453,750 $9,957 3.47%
    $50k or less 43 $5,625,000 $130,814 $1,179 3.56%

    Apple Federal Credit Union lent most frequently to those with incomes in the $150k-250k range, with 420 originations. The second most popular income band? $100k-150k, with 375 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 399 $113,455,000 $284,348 $6,336 3.39%
    30-36% 295 $69,155,000 $234,424 $6,707 3.65%
    <20% 207 $58,565,000 $282,923 $9,888 3.14%
    42% 53 $13,875,000 $261,792 $1,312 3.61%
    41% 47 $13,205,000 $280,957 $15,931 3.89%
    36% 46 $9,860,000 $214,348 $8,388 3.65%
    37% 45 $13,775,000 $306,111 $1,196 3.51%
    39% 44 $10,750,000 $244,318 $8,050 3.84%
    38% 42 $11,420,000 $271,905 $4,893 3.73%
    40% 41 $9,865,000 $240,610 $0 3.62%
    44% 38 $10,050,000 $264,474 $6,462 3.75%
    43% 35 $8,635,000 $246,714 $3,329 4.04%
    50-60% 24 $2,490,000 $103,750 $0 4.76%
    46% 20 $4,180,000 $209,000 $0 3.87%
    45% 17 $4,265,000 $250,882 $1,350 4.06%
    47% 13 $3,555,000 $273,462 $0 3.92%
    48% 12 $3,050,000 $254,167 $0 3.52%
    49% 7 $1,675,000 $239,286 $0 3.28%
    >60% 6 $1,020,000 $170,000 $0 5.02%

    Apple Federal Credit Union lent most frequently to those with DTI ratios of 20-30%, with 399 originations. The next most common DTI ratio? 30-36%, with 295 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 900 $224,540,000 $249,489 $6,078 3.60%
    Not provided 220 $59,540,000 $270,636 $6,129 3.47%
    Asian 97 $32,865,000 $338,814 $8,747 3.45%
    Black 117 $28,435,000 $243,034 $6,740 3.58%
    Asian Indian 19 $7,475,000 $393,421 $14,590 3.07%
    American Indian 13 $3,195,000 $245,769 $9,550 3.36%
    Other Asian 12 $3,060,000 $255,000 $0 3.27%
    Chinese 1 $995,000 $995,000 $0 2.63%
    Vietnamese 3 $895,000 $298,333 $0 3.54%
    Native Hawaiian or Islander 3 $685,000 $228,333 $5,319 4.06%
    Filipino 3 $605,000 $201,667 $0 3.99%
    Korean 3 $555,000 $185,000 $4,604 3.50%
    Not applicable 1 $305,000 $305,000 $0 4.00%

    Approval Rates

    Total approvals of all applications
    81.06%

    Apple Federal Credit Union has a below average approval rate.

    Pick Rate

    Approvals leading to origination
    59.77%

    Apple Federal Credit Union has a low pick rate. They may have issues with closing loans or may approve everyone, but with onerous loan terms.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 1,392 $363,150,000 $260,884

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Site-Built 1 $295,000 $295,000
    Single Family (1-4 Units):Site-Built 1,391 $362,855,000 $260,859

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 165 $27,905,000 $169,121 $1,265 3.88%
    40-60% 210 $66,840,000 $318,286 $8,917 2.97%
    60-80% 410 $146,880,000 $358,244 $8,467 2.94%
    80-100% 273 $101,005,000 $369,982 $12,381 3.07%
    Under 20% 334 $20,520,000 $61,437 $1,301 4.92%