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
  • Complaints
  • 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 and Refi loans. Advantage Federal Credit Union has a high proportion of conventional loans. Their top two markets are Rochester and Batavia .

    Advantage Federal Credit Union has an 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

    287

    Origination Dollar Volume (All Markets)

    $29,435,000

    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) 286 $29,290,000 $102,413 $0 0.00%
    Batavia, NY (FHA|USDA|VA) 1 $145,000 $145,000 $0 0.00%
    Advantage Federal Credit Union's top markets include Rochester 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 287 $29,435,000 $102,561 $0 0.00%

    For 2021, Advantage Federal Credit Union's most frequently originated type of loan was Conventional, with 287 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Cash Out Refi 102 $11,370,000 $111,471 $0 0.00%
    Refi 76 $9,420,000 $123,947 $0 0.00%
    Home Improvement 45 $2,065,000 $45,889 $0 0.00%
    Home Purchase 37 $5,255,000 $142,027 $0 0.00%
    Other 27 $1,325,000 $49,074 $0 0.00%

    For 2021, Advantage Federal Credit Union's most frequently cited loan purpose was Cash Out Refi, with 102 originations. The 2nd most popular reason was Refi, with 76 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 287 $29,435,000 $102,561 $0 0.00%

    For 2021, Advantage Federal Credit Union's most frequently cited loan duration was Other, with 287 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 151 $7,715,000 $51,093 $0 0.00%
    $100k-200k 113 $16,005,000 $141,637 $0 0.00%
    $200k-400k 23 $5,715,000 $248,478 $0 0.00%

    2021 saw Advantage Federal Credit Union place emphasis on $100,000 or less loans with 151 originations, totaling $7,715,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 82 $7,080,000 $86,341 $0 0.00%
    $100k-150k 60 $7,070,000 $117,833 $0 0.00%
    $75k-100k 58 $5,530,000 $95,345 $0 0.00%
    $150k-250k 45 $5,605,000 $124,556 $0 0.00%
    $50k or less 31 $2,275,000 $73,387 $0 0.00%
    $250k+ 11 $1,875,000 $170,455 $0 0.00%

    Advantage Federal Credit Union lent most frequently to those with incomes in the $50k-75k range, with 82 originations. The second most popular income band? $100k-150k, with 60 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 287 $29,435,000 $102,561 $0 0.00%

    Advantage Federal Credit Union lent most frequently to those with DTI ratios of Exempt%, with 287 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 210 $21,160,000 $100,762 $0 0.00%
    Not provided 36 $3,890,000 $108,056 $0 0.00%
    Black 28 $3,000,000 $107,143 $0 0.00%
    Asian 9 $1,085,000 $120,556 $0 0.00%
    American Indian 2 $190,000 $95,000 $0 0.00%
    Chinese 1 $85,000 $85,000 $0 0.00%
    Native Hawaiian or Islander 1 $25,000 $25,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    70.09%

    Advantage Federal Credit Union has a below average approval rate.

    Pick Rate

    Approvals leading to origination
    92.68%

    Advantage Federal Credit Union has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 287 $29,435,000 $102,561

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    287 $29,435,000 $102,561

    Complaints

    Bank Name Product Issue 2021 CPFB Complaints % of Total Issues
    Advantage Credit, Inc. Conventional home mortgage Trouble during payment process 1 100.0%