Advantage Federal Credit Union Mortgage Rates, Fees & Info
Rochester, NYLEI: 254900YY8IQK41QDLZ95
Tax ID: 16-0613220
Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data
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Mortgage Data
Review & Overview
Advantage Federal Credit Union is a smaller credit union specializing in Cash Out Refi, Refi, and Home Purchase loans. Advantage Federal Credit Union has a high proportion of conventional loans. Their top markets by origination volume include: Rochester, Buffalo, 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 average pick rate when compared to similar lenders.
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Originations
252Origination Dollar Volume (All Markets)
$21,110,000Top 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 |
|---|---|---|---|---|---|
| ROCHESTER, NY (FHA|USDA|VA) | 247 | $20,615,000 | $83,462 | $0 | 0.00% |
| BUFFALO-CHEEKTOWAGA, NY (FHA|USDA|VA) | 1 | $255,000 | $255,000 | $0 | 0.00% |
| Batavia, NY (FHA|USDA|VA) | 3 | $205,000 | $68,333 | $0 | 0.00% |
| Outside of Metro Areas | 1 | $35,000 | $35,000 | $0 | 0.00% |
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 252 | $21,110,000 | $83,770 | $0 | 0.00% |
For 2020, Advantage Federal Credit Union's most frequently originated type of loan was Conventional, with 252 originations.
Loan Reason
For 2020, Advantage Federal Credit Union's most frequently cited loan purpose was Cash Out Refi, with 65 originations. The 2nd most popular reason was Home Improvement, with 64 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Other | 252 | $21,110,000 | $83,770 | $0 | 0.00% |
For 2020, Advantage Federal Credit Union's most frequently cited loan duration was Other, with 252 originations.
Loan Sizing
2020 saw Advantage Federal Credit Union place emphasis on $100,000 or less loans with 169 originations, totaling $7,075,000 in origination value.
Applicant Income
Advantage Federal Credit Union lent most frequently to those with incomes in the $100k-150k range, with 74 originations. The second most popular income band? $75k-100k, with 57 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Exempt% | 252 | $21,110,000 | $83,770 | $0 | 0.00% |
Advantage Federal Credit Union lent most frequently to those with DTI ratios of Exempt%, with 252 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications62.96%
Advantage Federal Credit Union has a low approval rate. They may have poor market targeting or stringent lending standards.
Pick Rate
Approvals leading to origination92.46%
Advantage Federal Credit Union has an average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| Exempt | 252 | $21,110,000 | $83,770 |
Occupancy Type Mix
| Dwelling Type | Originations | Total Value | Average Loan |
|---|---|---|---|
| Single Family (1-4 Units):Site-Built | 252 | $21,110,000 | $83,770 |
Complaints
| Bank Name | Product | Issue | 2020 CPFB Complaints | % of Total Issues |
|---|---|---|---|---|
| Advantage Credit, Inc. | Other type of mortgage | Applying for a mortgage or refinancing an existing mortgage | 1 | 100.0% |