North Alabama Educators Credit Union Mortgage Rates, Fees & Info

Huntsville, AL

LEI: 254900Z5MXY02EYXAM91

Tax ID: 63-6023153

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
  • 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

    North Alabama Educators Credit Union is a smaller credit union specializing in Home Improvement and Home Purchase loans. North Alabama Educators Credit Union has a high proportion of conventional loans. Their top (well, only) market is Huntsville.

    North Alabama Educators Credit Union has an above average approval rate when compared to the average across all 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.

    Mortgage seekers: Choose your metro area here to explore the lowest fee & rate lenders.

    Mortgage professionals: We have various tools to make your lives easier. Contact us to see how we can help with your market research, analytics or advertising needs.

    SimulatedRates™

    Mortgage Type     		Simulated Rate Simulation Date
    15 Year Conventional Refi 5.68% 12/3/24
    15 Year Cash-out Refi 5.68% 12/3/24
    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.

    North Alabama Educators Credit Union Mortgage Calculator






    Your Estimates

    Estimated Loan Payment: Update the calculator values and click calculate payment!

    This is not an official calculator from North Alabama Educators 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

    20

    Origination Dollar Volume (All Markets)

    $1,960,000

    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
    HUNTSVILLE, AL (FHA|USDA|VA) 20 $1,960,000 $98,000 $1,391 5.84%
    North Alabama Educators Credit Union's top markets include and Huntsville among others.

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

    • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 20 $1,960,000 $98,000 $1,391 5.84%

    For 2023, North Alabama Educators Credit Union's most frequently originated type of loan was Conventional, with 20 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Improvement 9 $405,000 $45,000 $665 6.03%
    Home Purchase 5 $985,000 $197,000 $2,871 5.60%
    Refi 5 $235,000 $47,000 $431 5.75%
    Cash Out Refi 1 $335,000 $335,000 $2,907 5.75%

    For 2023, North Alabama Educators Credit Union's most frequently cited loan purpose was Home Improvement, with 9 originations. The 2nd most popular reason was Home Purchase, with 5 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    15 Year 10 $960,000 $96,000 $1,560 6.09%
    10 Year 3 $125,000 $41,667 $400 5.85%
    20 Year 3 $715,000 $238,333 $2,627 5.83%
    5 Year 2 $50,000 $25,000 $125 4.85%
    Other 2 $110,000 $55,000 $400 5.60%

    For 2023, North Alabama Educators Credit Union's most frequently cited loan duration was 15 Year, with 10 originations. The 2nd most popular length was 10 Year, with 3 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    5-6% 12 $1,620,000 $135,000
    6-7% 6 $290,000 $48,333
    4-5% 2 $50,000 $25,000

    During 2023, North Alabama Educators Credit Union's average interest rate for loans was 0.00%, while their most frequently originated rate bucket for loans was 5-6%, with 12 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 15 $715,000 $47,667 $783 5.92%
    $200k-400k 4 $1,110,000 $277,500 $2,916 5.63%
    $100k-200k 1 $135,000 $135,000 $2,583 5.50%

    2023 saw North Alabama Educators Credit Union place emphasis on $100,000 or less loans with 15 originations, totaling $715,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 6 $1,000,000 $166,667 $2,250 5.45%
    $75k-100k 6 $330,000 $55,000 $970 5.96%
    $50k-75k 5 $245,000 $49,000 $885 6.03%
    $50k or less 2 $70,000 $35,000 $400 6.23%
    $150k-250k 1 $315,000 $315,000 $3,119 5.75%

    North Alabama Educators Credit Union lent most frequently to those with incomes in the $100k-150k range, with 6 originations. The second most popular income band? $75k-100k, with 6 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    <20% 6 $570,000 $95,000 $2,179 5.65%
    20-30% 5 $685,000 $137,000 $1,804 5.64%
    40% 2 $50,000 $25,000 $263 5.73%
    30-36% 2 $370,000 $185,000 $1,654 5.80%
    36% 1 $65,000 $65,000 $1,854 6.00%
    42% 1 $55,000 $55,000 $800 6.35%
    44% 1 $55,000 $55,000 $400 6.60%
    45% 1 $55,000 $55,000 $800 6.35%
    49% 1 $55,000 $55,000 $400 6.35%

    North Alabama Educators Credit Union lent most frequently to those with DTI ratios of <20%, with 6 originations. The next most common DTI ratio? 20-30%, with 5 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 12 $1,260,000 $105,000 $1,904 5.68%
    Black 8 $700,000 $87,500 $813 6.09%

    Approval Rates

    Total approvals of all applications
    95.24%

    North Alabama Educators Credit Union has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.

    Pick Rate

    Approvals leading to origination

    Points and Fees

    Points Originations Total Value Average Loan
    NA 20 $1,960,000 $98,000

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    20 $1,960,000 $98,000

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 3 $165,000 $55,000 $533 6.27%
    40-60% 3 $305,000 $101,667 $1,764 5.78%
    60-80% 3 $785,000 $261,667 $2,870 5.67%
    80-100% 1 $255,000 $255,000 $2,599 5.50%
    Under 20% 10 $450,000 $45,000 $792 5.82%