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 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.

    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.

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    SimulatedRates™

    Mortgage Type     		Simulated Rate Simulation Date
    30 Year Conventional Purchase 6.45% 11/21/24
    30 Year Conventional Refi 6.13% 11/21/24
    30 Year Cash-out Refi 6.36% 11/21/24
    15 Year Conventional Purchase 6.02% 11/21/24
    15 Year Conventional Refi 5.67% 11/21/24
    15 Year Cash-out Refi 5.67% 11/21/24
    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.

    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

    1,646

    Origination Dollar Volume (All Markets)

    $273,590,000

    Awards

    Apple Federal Credit Union 30 Year Conventional Loans gold Apple Federal Credit Union 30 Year Conventional Loans gold Apple Federal Credit Union 30 Year Conventional Loans silver
    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
    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%
    Apple Federal Credit Union's top markets include Washington, Winchester, Hagerstown, Baltimore, and Richmond among others.

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

    Cedar Point Federal Credit Union
    Similarity Rank: 370
    IDB Global Federal Credit Union
    Similarity Rank: 1133
    Burke & Herbert Bank & Trust Company
    Similarity Rank: 1260
    MISSION MORTGAGE LLC
    Similarity Rank: 1390
    Mid-Atlantic Federal Credit Union
    Similarity Rank: 1548
    Member Options, LLC
    Similarity Rank: 1687
    NATIONAL COOPERATIVE BANK, N.A.
    Similarity Rank: 2040
    Third Federal Savings and Loan Association of Cleveland
    Similarity Rank: 2106
    ANDREWS FEDERAL CREDIT UNION
    Similarity Rank: 2279
    NATIONAL INSTITUTES OF HEALTH FEDERAL CREDIT UNION
    Similarity Rank: 2466

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    HELOC 862 $94,670,000 $109,826 n/a 5.35%
    Conventional 784 $178,920,000 $228,214 $6,983 4.88%

    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.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Improvement 802 $76,300,000 $95,137 $0 5.47%
    Other 404 $43,750,000 $108,292 $0 5.60%
    Home Purchase 208 $74,100,000 $356,250 $6,779 4.81%
    Cash Out Refi 141 $53,165,000 $377,057 $8,452 3.61%
    Refi 91 $26,275,000 $288,736 $5,326 3.08%

    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.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 1,208 $225,920,000 $187,020 $7,667 5.05%
    15 Year 229 $27,335,000 $119,367 $4,488 5.52%
    10 Year 133 $9,575,000 $71,992 $3,498 5.50%
    5 Year 44 $2,270,000 $51,591 $0 5.02%
    20 Year 29 $7,465,000 $257,414 $6,001 3.74%
    Other 3 $1,025,000 $341,667 $0 4.83%

    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
    $<1k 404 $43,560,000 $107,822
    $5k+ 156 $68,480,000 $438,974
    $2k-3k 60 $18,260,000 $304,333
    $1k-2k 55 $12,415,000 $225,727
    $3k-4k 55 $17,895,000 $325,364
    $4k-5k 47 $16,735,000 $356,064

    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.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    4-5% 460 $71,770,000 $156,022
    5-6% 391 $58,755,000 $150,269
    3-4% 285 $54,985,000 $192,930
    6-7% 271 $36,675,000 $135,332
    2.5-3% 105 $34,155,000 $325,286
    7-8% 78 $7,590,000 $97,308
    Over 8% 28 $2,130,000 $76,071
    <2.5% 28 $7,530,000 $268,929

    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.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 718 $39,850,000 $55,501 $3,355 5.45%
    $100k-200k 427 $57,305,000 $134,204 $4,104 5.32%
    $200k-400k 351 $95,665,000 $272,550 $6,459 4.57%
    $400k-600k 117 $54,905,000 $469,274 $9,445 4.36%
    $600k-1MM 29 $20,915,000 $721,207 $12,227 4.27%
    $1MM+ 4 $4,950,000 $1,237,500 $0 3.84%

    2022 saw Apple Federal Credit Union place emphasis on $100,000 or less loans with 718 originations, totaling $39,850,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $150k-250k 512 $86,440,000 $168,828 $7,508 5.29%
    $100k-150k 504 $79,410,000 $157,560 $7,203 5.11%
    $75k-100k 245 $36,465,000 $148,837 $6,729 5.05%
    $50k-75k 165 $21,855,000 $132,455 $5,073 4.83%
    $250k+ 160 $41,490,000 $259,313 $11,948 5.33%
    $50k or less 55 $6,315,000 $114,818 $5,094 4.47%

    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

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 378 $64,820,000 $171,481 $6,821 4.86%
    30-36% 311 $50,395,000 $162,042 $7,071 5.09%
    44% 187 $23,865,000 $127,620 $6,655 5.50%
    43% 105 $13,635,000 $129,857 $7,547 5.33%
    <20% 102 $20,600,000 $201,961 $6,023 4.49%
    40% 83 $13,155,000 $158,494 $6,801 5.34%
    41% 77 $13,155,000 $170,844 $6,875 5.48%
    42% 76 $12,460,000 $163,947 $9,140 5.59%
    39% 75 $13,825,000 $184,333 $8,943 4.98%
    37% 59 $10,645,000 $180,424 $7,557 5.35%
    36% 54 $9,250,000 $171,296 $8,111 5.20%
    38% 53 $8,165,000 $154,057 $5,664 5.31%
    45% 23 $5,935,000 $258,043 $6,767 5.10%
    50-60% 13 $2,305,000 $177,308 $6,707 4.96%
    46% 12 $2,120,000 $176,667 $5,189 4.97%
    47% 11 $2,735,000 $248,636 $6,918 4.80%
    48% 9 $2,365,000 $262,778 $8,242 4.87%
    49% 5 $1,595,000 $319,000 $6,147 4.79%
    >60% 5 $1,005,000 $201,000 $0 5.79%

    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.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 979 $158,755,000 $162,160 $7,086 5.10%
    Not provided 306 $49,850,000 $162,908 $6,588 5.16%
    Black 185 $29,145,000 $157,541 $6,773 5.29%
    Asian 103 $22,805,000 $221,408 $6,921 4.90%
    Asian Indian 27 $5,015,000 $185,741 $6,268 5.37%
    American Indian 13 $2,115,000 $162,692 $8,007 5.05%
    Other Asian 11 $1,535,000 $139,545 $11,554 5.59%
    Vietnamese 6 $1,170,000 $195,000 $7,459 4.63%
    Other Pacific Islander 5 $1,085,000 $217,000 $9,425 5.55%
    Not applicable 3 $1,025,000 $341,667 $0 4.83%
    Filipino 3 $385,000 $128,333 $0 5.52%
    Japanese 1 $305,000 $305,000 $0 4.88%
    Native Hawaiian or Islander 2 $270,000 $135,000 $0 4.92%
    Chinese 2 $130,000 $65,000 $0 5.02%

    Approval Rates

    Total approvals of all applications
    72.63%

    Apple Federal Credit Union has a below average approval rate.

    Pick Rate

    Approvals leading to origination
    75.21%

    Apple Federal Credit Union has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 1,646 $273,590,000 $166,215

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    1,646 $273,590,000 $166,215

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 306 $50,580,000 $165,294 $3,845 5.45%
    40-60% 92 $24,980,000 $271,522 $5,233 3.90%
    60-80% 176 $63,910,000 $363,125 $7,917 3.86%
    80-100% 165 $65,445,000 $396,636 $7,637 4.63%
    Under 20% 907 $68,675,000 $75,717 $3,210 5.48%