Communities Of Abilene Federal Credit Union Mortgage Rates, Fees & Info
Abilene, TXLEI: 5493000H6FXB15JQW781
Tax ID: 75-0940724
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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 markets by origination volume include: Abilene, Snyder, and Sweetwater among others. We have data for 4 markets. (Some data included below & more in-depth data is available with an active subscription.)Communities Of Abilene Federal Credit Union has an above average approval rate when compared to the average across all lenders. Communities Of Abilene Federal Credit Union is typically a low fee lender. (We use the term "fees" to include things like closing costs and other costs incurred by borrowers-- whether they are paid out of pocket or rolled into the loan.) They typically have about average rates.
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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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| 15 Year Conventional Refi | 6.12% | 12/17/24 |
| 15 Year Cash-out Refi | 6.12% | 12/17/24 |
| 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
27Origination Dollar Volume (All Markets)
$2,435,000Top 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) | 20 | $1,630,000 | $81,500 | $487 | 3.77% |
| Outside of Metro Areas | 5 | $585,000 | $117,000 | $296 | 4.37% |
| Snyder, TX (FHA|USDA|VA) | 1 | $155,000 | $155,000 | $3,073 | 2.75% |
| Sweetwater, TX (FHA|USDA|VA) | 1 | $65,000 | $65,000 | $270 | 5.55% |
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 26 | $2,260,000 | $86,923 | $390 | 3.95% |
| VA | 1 | $175,000 | $175,000 | $4,431 | 2.88% |
For 2021, Communities Of Abilene Federal Credit Union's most frequently originated type of loan was Conventional, with 26 originations. Their 2nd most popular type was VA, with 1 originations.
Loan Reason
| Loan Reason | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Cash Out Refi | 24 | $1,990,000 | $82,917 | $282 | 4.01% |
| Refi | 3 | $445,000 | $148,333 | $2,600 | 3.08% |
For 2021, Communities Of Abilene Federal Credit Union's most frequently cited loan purpose was Cash Out Refi, with 24 originations. The 2nd most popular reason was Refi, with 3 originations.
Loan Duration/Length
For 2021, Communities Of Abilene Federal Credit Union's most frequently cited loan duration was 20 Year, with 11 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-2k | 1 | $155,000 | $155,000 |
| $3k-4k | 1 | $175,000 | $175,000 |
Communities Of Abilene Federal Credit Union's average total fees were $4,431, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 1 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 3-4% | 21 | $1,825,000 | $86,905 |
| 5-6% | 3 | $185,000 | $61,667 |
| 2.5-3% | 2 | $330,000 | $165,000 |
| 7-8% | 1 | $95,000 | $95,000 |
During 2021, Communities Of Abilene Federal Credit Union's average interest rate for loans was 2.88%, while their most frequently originated rate bucket for loans was 3-4%, with 21 originations.
Loan Sizing
2021 saw Communities Of Abilene Federal Credit Union place emphasis on $100,000 or less loans with 20 originations, totaling $1,140,000 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? $50k-75k, 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 10 originations. The next most common DTI ratio? 20-30%, with 7 originations.
Ethnicity Mix
| Applicant Ethnicity | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| White | 24 | $2,190,000 | $91,250 | $570 | 3.79% |
| Black | 3 | $245,000 | $81,667 | $295 | 4.88% |
Approval Rates
Total approvals of all applications93.10%
Communities Of Abilene Federal Credit Union has an average approval rate.
Pick Rate
Approvals leading to originationPoints and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 27 | $2,435,000 | $90,185 |
LTV Distribution
Complaints
| Bank Name | Product | Issue | 2021 CPFB Complaints | % of Total Issues |
|---|---|---|---|---|
| COMMUNITY MORTGAGE CORPORATION | FHA mortgage | Applying for a mortgage or refinancing an existing mortgage | 1 | 100.0% |