Communities Of Abilene Federal Credit Union Mortgage Rates, Fees & Info
Abilene, TXLEI: 5493000H6FXB15JQW781
Tax ID: 75-0940724
Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data
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Mortgage Data
Review & Overview
Communities Of Abilene Federal Credit Union is a smaller credit union specializing in Cash Out Refi loans. Communities Of Abilene Federal Credit Union has a high proportion of conventional loans. Their top two markets are Abilene and Dallas .Communities Of Abilene Federal Credit Union has an above average approval rate when compared to the average across all lenders. They have an above average pick rate when compared to similar lenders.
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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| 15 Year Conventional Refi | 6.12% | 11/11/24 |
| 15 Year Cash-out Refi | 6.12% | 11/11/24 |
| 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. | ||
Communities Of Abilene Federal Credit Union Mortgage Calculator
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Originations
36Origination Dollar Volume (All Markets)
$2,530,000Top 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 |
|---|---|---|---|---|---|
| ABILENE, TX (FHA|USDA|VA) | 31 | $2,145,000 | $69,194 | $618 | 6.53% |
| Outside of Metro Areas | 3 | $235,000 | $78,333 | $678 | 7.33% |
| Dallas-Fort Worth-Arlington, TX (FHA|USDA|VA) | 2 | $150,000 | $75,000 | $195 | 4.10% |
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 36 | $2,530,000 | $70,278 | $600 | 6.46% |
For 2023, Communities Of Abilene Federal Credit Union's most frequently originated type of loan was Conventional, with 36 originations.
Loan Reason
| Loan Reason | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Cash Out Refi | 36 | $2,530,000 | $70,278 | $600 | 6.46% |
For 2023, Communities Of Abilene Federal Credit Union's most frequently cited loan purpose was Cash Out Refi, with 36 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| 20 Year | 27 | $2,145,000 | $79,444 | $650 | 6.48% |
| 10 Year | 9 | $385,000 | $42,778 | $450 | 6.40% |
For 2023, Communities Of Abilene Federal Credit Union's most frequently cited loan duration was 20 Year, with 27 originations. The 2nd most popular length was 10 Year, with 9 originations.
Origination Fees/Closing Costs
| Origination Fee/Closing Cost | Originations | Total Value | Average Loan |
|---|---|---|---|
| $<1k | 29 | $1,785,000 | $61,552 |
| $1k-2k | 2 | $500,000 | $250,000 |
Communities Of Abilene Federal Credit Union's average total fees were $0, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 29 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 6-7% | 27 | $2,155,000 | $79,815 |
| 4-5% | 5 | $245,000 | $49,000 |
| 7-8% | 3 | $105,000 | $35,000 |
| Over 8% | 1 | $25,000 | $25,000 |
During 2023, Communities Of Abilene Federal Credit Union's average interest rate for loans was 0.00%, while their most frequently originated rate bucket for loans was 6-7%, with 27 originations.
Loan Sizing
2023 saw Communities Of Abilene Federal Credit Union place emphasis on $100,000 or less loans with 29 originations, totaling $1,355,000 in origination value.
Applicant Income
Communities Of Abilene Federal Credit Union lent most frequently to those with incomes in the $50k or less range, with 9 originations. The second most popular income band? $75k-100k, with 8 originations.
Applicant Debt to Income Ratio
Communities Of Abilene Federal Credit Union lent most frequently to those with DTI ratios of <20%, with 12 originations. The next most common DTI ratio? 30-36%, with 8 originations.
Ethnicity Mix
| Applicant Ethnicity | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| White | 32 | $2,070,000 | $64,688 | $568 | 6.44% |
| Black | 4 | $460,000 | $115,000 | $855 | 6.63% |
Approval Rates
Total approvals of all applications94.87%
Communities Of Abilene Federal Credit Union has an average approval rate.
Pick Rate
Approvals leading to origination97.22%
Communities Of Abilene 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 |
|---|---|---|---|
| NA | 36 | $2,530,000 | $70,278 |