The Atlantic Federal Credit Union Mortgage Rates, Fees & Info

Kenilworth, NJ

LEI: 254900P44XJB3CPZ4V05

Tax ID: 22-1489896

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
  • Complaints
  • 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

    The Atlantic Federal Credit Union is a smaller credit union specializing in Cash Out Refi, Refi, and Home Purchase loans. The Atlantic Federal Credit Union has a high proportion of conventional loans. Their top markets by origination volume include: New York, Philadelphia, and Ocean City among others. We have data for 4 markets. (Some data included below & more in-depth data is available with an active subscription.)

    The Atlantic 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. The Atlantic 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.

    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 6.48% 11/21/24
    30 Year Conventional Refi 6.27% 11/21/24
    30 Year Cash-out Refi 6.13% 11/21/24
    15 Year Conventional Purchase 5.68% 11/21/24
    15 Year Conventional Refi 6.13% 11/21/24
    15 Year Cash-out Refi 6.13% 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.

    The Atlantic 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 The Atlantic 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

    34

    Origination Dollar Volume (All Markets)

    $6,940,000

    Awards

    The Atlantic Federal Credit Union 30 Year Conventional Loans gold The Atlantic Federal Credit Union 30 Year Conventional Loans bronze
    Show all (2) 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
    New York-Newark-Jersey City, NY-NJ-PA (FHA|USDA|VA) 28 $5,670,000 $202,500 $2,097 3.78%
    Philadelphia-Camden-Wilmington, PA-NJ-DE-MD (FHA|USDA|VA) 4 $610,000 $152,500 $2,057 3.69%
    OCEAN CITY, NJ (FHA|USDA|VA) 1 $405,000 $405,000 $3,506 3.50%
    Outside of Metro Areas 1 $255,000 $255,000 $3,063 2.75%
    The Atlantic Federal Credit Union's top markets include New York, Philadelphia, and Ocean City among others.

    Their top states include:
  • New Jersey (FHA|USDA|VA)
  • (FHA|USDA|VA)

    • Similar Lenders

    We use machine learning to identify the top lenders compared against The Atlantic Federal Credit Union based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.

    The First National Bank of Long Island
    Similarity Rank: 134
    North Jersey Federal Credit Union
    Similarity Rank: 247
    N C P D Federal Credit Union
    Similarity Rank: 482
    MOUNTAIN MORTGAGE CORP.
    Similarity Rank: 538
    ATLANTIS MORTGAGE CO., INC.
    Similarity Rank: 668
    TEG Federal Credit Union
    Similarity Rank: 715
    Hanover Community Bank
    Similarity Rank: 727
    Roselle Bank
    Similarity Rank: 796
    Poli Mortgage Group, Inc.
    Similarity Rank: 1012
    Schuyler Savings Bank
    Similarity Rank: 1083

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 34 $6,940,000 $204,118 $2,162 3.73%

    For 2020, The Atlantic Federal Credit Union's most frequently originated type of loan was Conventional, with 34 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Cash Out Refi 13 $3,155,000 $242,692 $2,278 3.45%
    Refi 9 $1,595,000 $177,222 $1,850 3.32%
    Home Purchase 8 $1,980,000 $247,500 $3,381 3.66%
    Home Improvement 2 $100,000 $50,000 $25 5.24%
    Other 2 $110,000 $55,000 $80 6.12%

    For 2020, The Atlantic Federal Credit Union's most frequently cited loan purpose was Cash Out Refi, with 13 originations. The 2nd most popular reason was Refi, with 9 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 18 $4,070,000 $226,111 $2,595 3.68%
    15 Year 8 $1,780,000 $222,500 $2,029 3.31%
    20 Year 4 $730,000 $182,500 $2,126 4.09%
    Other 2 $100,000 $50,000 $25 5.24%
    10 Year 1 $185,000 $185,000 $2,005 2.88%
    5 Year 1 $75,000 $75,000 $25 4.24%

    For 2020, The Atlantic Federal Credit Union's most frequently cited loan duration was 30 Year, with 18 originations. The 2nd most popular length was 15 Year, with 8 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 34 $6,940,000 $204,118

    The Atlantic Federal Credit Union's average total fees were $2,595, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 34 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    3-4% 17 $3,975,000 $233,824
    2.5-3% 9 $2,125,000 $236,111
    4-5% 4 $630,000 $157,500
    5-6% 3 $175,000 $58,333
    6-7% 1 $35,000 $35,000

    During 2020, The Atlantic Federal Credit Union's average interest rate for loans was 3.68%, while their most frequently originated rate bucket for loans was 3-4%, with 17 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 14 $3,680,000 $262,857 $2,759 3.38%
    $100k-200k 12 $2,020,000 $168,333 $2,158 3.47%
    $100,000 or less 6 $380,000 $63,333 $359 5.16%
    $400k-600k 2 $860,000 $430,000 $3,421 3.44%

    2020 saw The Atlantic Federal Credit Union place emphasis on $200k-400k loans with 14 originations, totaling $3,680,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $150k-250k 10 $2,260,000 $226,000 $1,975 3.55%
    $75k-100k 9 $1,955,000 $217,222 $2,920 3.68%
    $100k-150k 5 $975,000 $195,000 $1,752 3.67%
    $250k+ 5 $1,145,000 $229,000 $2,365 3.45%
    $50k-75k 3 $395,000 $131,667 $1,591 4.25%
    $50k or less 2 $210,000 $105,000 $1,068 4.87%

    The Atlantic Federal Credit Union lent most frequently to those with incomes in the $150k-250k range, with 10 originations. The second most popular income band? $75k-100k, with 9 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 11 $2,175,000 $197,727 $2,022 3.48%
    43% 4 $960,000 $240,000 $3,325 3.41%
    <20% 3 $595,000 $198,333 $2,091 3.33%
    37% 3 $445,000 $148,333 $1,636 4.12%
    39% 3 $715,000 $238,333 $1,823 4.12%
    42% 2 $90,000 $45,000 $80 5.74%
    47% 2 $580,000 $290,000 $2,754 3.50%
    30-36% 2 $560,000 $280,000 $2,322 3.00%
    36% 1 $255,000 $255,000 $3,929 3.75%
    41% 1 $195,000 $195,000 $2,231 4.63%
    40% 1 $135,000 $135,000 $2,641 3.75%
    38% 1 $235,000 $235,000 $2,217 3.50%

    The Atlantic Federal Credit Union lent most frequently to those with DTI ratios of 20-30%, with 11 originations. The next most common DTI ratio? 43%, with 4 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    Not provided 14 $2,660,000 $190,000 $2,163 3.69%
    White 13 $2,645,000 $203,462 $1,815 3.84%
    Black 7 $1,635,000 $233,571 $2,807 3.59%

    Approval Rates

    Total approvals of all applications
    88.33%

    The Atlantic Federal Credit Union has an average approval rate.

    Pick Rate

    Approvals leading to origination
    20.59%

    The Atlantic 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 34 $6,940,000 $204,118

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Single Family (1-4 Units):Site-Built 34 $6,940,000 $204,118

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 2 $260,000 $130,000 $1,015 4.43%
    40-60% 7 $1,585,000 $226,429 $2,281 3.11%
    60-80% 12 $2,770,000 $230,833 $2,292 3.48%
    80-100% 9 $2,115,000 $235,000 $3,090 3.71%
    Under 20% 4 $210,000 $52,500 $52 5.24%

    Complaints

    Bank Name Product Issue 2020 CPFB Complaints % of Total Issues
    TOTAL MORTGAGE SERVICES LLC Conventional home mortgage Closing on a mortgage 2 40.0%
    TOTAL MORTGAGE SERVICES LLC Conventional home mortgage Trouble during payment process 1 20.0%
    TOTAL MORTGAGE SERVICES LLC FHA mortgage Applying for a mortgage or refinancing an existing mortgage 1 20.0%
    TOTAL MORTGAGE SERVICES LLC Other type of mortgage Applying for a mortgage or refinancing an existing mortgage 1 20.0%