Advantage Federal Credit Union Mortgage Rates, Fees & Info

Rochester, NY

LEI: 254900YY8IQK41QDLZ95

Tax ID: 16-0613220

Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data

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Mortgage Data

  • Originations
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • 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

    Advantage Federal Credit Union is a smaller credit union specializing in Cash Out Refi loans. Advantage Federal Credit Union has a high proportion of conventional loans. Their top markets by origination volume include: Rochester, Auburn, Watertown, and Batavia among others. We have data for 4 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Advantage Federal Credit Union has a below average approval rate when compared to the average across all lenders. They have an above average pick rate when compared to similar lenders.

    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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    Originations

    187

    Origination Dollar Volume (All Markets)

    $9,605,000

    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
    ROCHESTER, NY (FHA|USDA|VA) 182 $9,380,000 $51,538 $0 0.00%
    Auburn, NY (FHA|USDA|VA) 1 $105,000 $105,000 $0 0.00%
    WATERTOWN-FORT DRUM, NY (FHA|USDA|VA) 1 $65,000 $65,000 $0 0.00%
    Batavia, NY (FHA|USDA|VA) 3 $55,000 $18,333 $0 0.00%
    Advantage Federal Credit Union's top markets include Rochester, Auburn, Watertown, and Batavia among others.

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

    • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 187 $9,605,000 $51,364 $0 0.00%

    For 2018, Advantage Federal Credit Union's most frequently originated type of loan was Conventional, with 187 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Improvement 60 $1,880,000 $31,333 $0 0.00%
    Cash Out Refi 48 $3,450,000 $71,875 $0 0.00%
    Other 47 $1,645,000 $35,000 $0 0.00%
    Home Purchase 16 $1,900,000 $118,750 $0 0.00%
    Refi 16 $730,000 $45,625 $0 0.00%

    For 2018, Advantage Federal Credit Union's most frequently cited loan purpose was Home Improvement, with 60 originations. The 2nd most popular reason was Cash Out Refi, with 48 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 187 $9,605,000 $51,364 $0 0.00%

    For 2018, Advantage Federal Credit Union's most frequently cited loan duration was Other, with 187 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 166 $6,790,000 $40,904 $0 0.00%
    $100k-200k 20 $2,560,000 $128,000 $0 0.00%
    $200k-400k 1 $255,000 $255,000 $0 0.00%

    2018 saw Advantage Federal Credit Union place emphasis on $100,000 or less loans with 166 originations, totaling $6,790,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 58 $3,140,000 $54,138 $0 0.00%
    $50k-75k 51 $2,655,000 $52,059 $0 0.00%
    $75k-100k 35 $1,505,000 $43,000 $0 0.00%
    $50k or less 25 $925,000 $37,000 $0 0.00%
    $150k-250k 16 $1,250,000 $78,125 $0 0.00%
    $250k+ 2 $130,000 $65,000 $0 0.00%

    Advantage Federal Credit Union lent most frequently to those with incomes in the $100k-150k range, with 58 originations. The second most popular income band? $50k-75k, with 51 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 187 $9,605,000 $51,364 $0 0.00%

    Advantage Federal Credit Union lent most frequently to those with DTI ratios of Exempt%, with 187 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 158 $7,980,000 $50,506 $0 0.00%
    Black 19 $1,105,000 $58,158 $0 0.00%
    American Indian 3 $175,000 $58,333 $0 0.00%
    Native Hawaiian or Islander 1 $165,000 $165,000 $0 0.00%
    Not provided 5 $135,000 $27,000 $0 0.00%
    Asian 1 $45,000 $45,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    62.10%

    Advantage Federal Credit Union has a low approval rate. They may have poor market targeting or stringent lending standards.

    Pick Rate

    Approvals leading to origination
    97.33%

    Advantage Federal Credit Union has an exceptionally high pick rate. They most likely have borrower friendly terms or other characteristics like being fast to close or are easy to work with.

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 187 $9,605,000 $51,364

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Single Family (1-4 Units):Site-Built 187 $9,605,000 $51,364