Acipco Federal Credit Union Mortgage Rates, Fees & Info
Birmingham, ALLEI: 254900OYJ23M4J7IJI76
Tax ID: 63-0500013
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Mortgage Data
Review & Overview
Acipco Federal Credit Union is a smaller credit union specializing in Refi and Home Purchase loans. Acipco Federal Credit Union has a high proportion of conventional loans. Their top markets by origination volume include: Birmingham, Atlanta, Nashville, Panama City, and Cullman among others. We have data for 14 markets. (Some data included below & more in-depth data is available with an active subscription.)Acipco 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. Acipco 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.
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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| 30 Year Conventional Purchase | 5.42% | 11/21/24 |
| 30 Year Conventional Refi | 5.51% | 11/21/24 |
| 30 Year Cash-out Refi | 5.93% | 11/21/24 |
| 15 Year Conventional Purchase | 5.65% | 11/21/24 |
| 15 Year Conventional Refi | 6.16% | 11/21/24 |
| 15 Year Cash-out Refi | 6.16% | 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. | ||
Acipco Federal Credit Union Mortgage Calculator
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
92Origination Dollar Volume (All Markets)
$19,570,000Top 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 |
|---|---|---|---|---|---|
| BIRMINGHAM-HOOVER, AL (FHA|USDA|VA) | 71 | $14,505,000 | $204,296 | $0 | 3.88% |
| ATLANTA-SANDY SPRINGS-ALPHARETTA, GA (FHA|USDA|VA) | 3 | $1,155,000 | $385,000 | $0 | 3.47% |
| NASHVILLE-DAVIDSON-MURFREESBORO-FRANKLIN, TN (FHA|USDA|VA) | 1 | $715,000 | $715,000 | $0 | 3.95% |
| PANAMA CITY, FL (FHA|USDA|VA) | 2 | $630,000 | $315,000 | $0 | 3.95% |
| Outside of Metro Areas | 4 | $560,000 | $140,000 | $0 | 3.95% |
| Cullman, AL (FHA|USDA|VA) | 3 | $535,000 | $178,333 | $0 | 3.95% |
| Tupelo, MS (FHA|USDA|VA) | 1 | $475,000 | $475,000 | $0 | 3.95% |
| GADSDEN, AL (FHA|USDA|VA) | 1 | $265,000 | $265,000 | $0 | 3.95% |
| CRESTVIEW-FORT WALTON BEACH-DESTIN, FL (FHA|USDA|VA) | 1 | $215,000 | $215,000 | $0 | 3.95% |
| AUBURN-OPELIKA, AL (FHA|USDA|VA) | 1 | $175,000 | $175,000 | $0 | 3.95% |
| Vicksburg, MS (FHA|USDA|VA) | 1 | $135,000 | $135,000 | $0 | 3.95% |
| Albertville, AL (FHA|USDA|VA) | 1 | $85,000 | $85,000 | $0 | 3.95% |
| MONTGOMERY, AL (FHA|USDA|VA) | 1 | $75,000 | $75,000 | $0 | 3.95% |
| Jasper, AL (FHA|USDA|VA) | 1 | $45,000 | $45,000 | $0 | 3.95% |
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 92 | $19,570,000 | $212,717 | $0 | 3.88% |
For 2021, Acipco Federal Credit Union's most frequently originated type of loan was Conventional, with 92 originations.
Loan Reason
For 2021, Acipco Federal Credit Union's most frequently cited loan purpose was Refi, with 45 originations. The 2nd most popular reason was Home Purchase, with 39 originations.
Loan Duration/Length
For 2021, Acipco Federal Credit Union's most frequently cited loan duration was 30 Year, with 79 originations. The 2nd most popular length was 15 Year, with 6 originations.
Origination Fees/Closing Costs
| Origination Fee/Closing Cost | Originations | Total Value | Average Loan |
|---|---|---|---|
| $<1k | 39 | $7,845,000 | $201,154 |
Acipco Federal Credit Union's average total fees were $0, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 39 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 3-4% | 86 | $18,220,000 | $211,860 |
| <2.5% | 3 | $635,000 | $211,667 |
| 2.5-3% | 2 | $540,000 | $270,000 |
During 2021, Acipco Federal Credit Union's average interest rate for loans was 3.86%, while their most frequently originated rate bucket for loans was 3-4%, with 86 originations.
Loan Sizing
2021 saw Acipco Federal Credit Union place emphasis on $100k-200k loans with 35 originations, totaling $5,635,000 in origination value.
Applicant Income
Acipco Federal Credit Union lent most frequently to those with incomes in the $50k-75k range, with 28 originations. The second most popular income band? $100k-150k, with 16 originations.
Applicant Debt to Income Ratio
Acipco Federal Credit Union lent most frequently to those with DTI ratios of 20-30%, with 24 originations. The next most common DTI ratio? <20%, with 20 originations.
Ethnicity Mix
| Applicant Ethnicity | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| White | 68 | $15,180,000 | $223,235 | $0 | 3.89% |
| Black | 24 | $4,390,000 | $182,917 | $0 | 3.84% |
Approval Rates
Total approvals of all applications86.34%
Acipco Federal Credit Union has an average approval rate.
Pick Rate
Approvals leading to origination51.09%
Acipco 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 |
|---|---|---|---|
| 0.0 | 4 | $550,000 | $137,500 |
| NA | 88 | $19,020,000 | $216,136 |
LTV Distribution
Complaints
| Bank Name | Product | Issue | 2021 CPFB Complaints | % of Total Issues |
|---|---|---|---|---|
| ACOPIA CAPITAL GROUP | Conventional home mortgage | Applying for a mortgage or refinancing an existing mortgage | 1 | 25.0% |
| ACOPIA CAPITAL GROUP | Conventional home mortgage | Trouble during payment process | 1 | 25.0% |
| ACOPIA CAPITAL GROUP | FHA mortgage | Closing on a mortgage | 1 | 25.0% |
| ACOPIA CAPITAL GROUP | Other type of mortgage | Struggling to pay mortgage | 1 | 25.0% |