Credit Union 1 Mortgage Rates, Fees & Info

Anchorage, AK

LEI: 5493001K6UOKMZBPMI34

Tax ID: 92-0021481

5 stars - Updated: 11/21/24 - out of 5 stars, based on 16 reviews

Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data

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  • SimulatedRates™
  • Mortgage Calculator

    • Mortgage Data

  • Originations
  • Relative Rates
  • Relative Fees
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • Similar Lenders
  • 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

    Credit Union 1 is a smaller credit union specializing in Home Purchase loans. Credit Union 1 has a high proportion of conventional loans. Their top markets by origination volume include: Anchorage, Fairbanks, and Ketchikan among others. We have data for 4 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Credit Union 1 has an average approval rate when compared to the average across all lenders. They have a below average pick rate when compared to similar lenders. Credit Union 1 is typically an average 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 relatively high 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.

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

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    SimulatedRates™

    Mortgage Type     		Simulated Rate Simulation Date
    30 Year Conventional Purchase 5.77% 11/21/24
    30 Year Conventional Refi 5.68% 11/21/24
    30 Year Cash-out Refi 5.78% 11/21/24
    30 Year VA Purchase 6.17% 11/21/24
    15 Year Conventional Purchase 5.21% 11/21/24
    15 Year Conventional Refi 5.36% 11/21/24
    15 Year Cash-out Refi 5.36% 11/21/24
    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.

    Credit Union 1 Mortgage Calculator






    Your Estimates

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

    This is not an official calculator from Credit Union 1. 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

    263

    Origination Dollar Volume (All Markets)

    $54,295,000
    Show all (5) awards

    Relative Rate

    Credit Union 1's average 30 year fixed mortgage rate was 5.91%.

    The 2023 average 30 year fixed rate mortgage across all markets and lenders was 6.48%.

    This yields a difference of -0.57%.

    Relative Fees (Closing Costs)

    Credit Union 1's average total fees/closing costs for a 30 year fixed rate mortgage were $5,396.

    The average total origination fees for 30 year fixed rate mortgages across all lenders (for all loan values, including both points & up-front fees in addition to origination fees) were $9,089.

    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
    ANCHORAGE, AK (FHA|USDA|VA) 173 $38,545,000 $222,803 $3,668 6.46%
    Outside of Metro Areas 59 $9,005,000 $152,627 $2,447 6.83%
    FAIRBANKS, AK (FHA|USDA|VA) 23 $5,545,000 $241,087 $4,412 6.40%
    Ketchikan, AK (FHA|USDA|VA) 8 $1,200,000 $150,000 $2,803 6.75%
    Credit Union 1's top markets include Anchorage, Fairbanks, and Ketchikan among others.

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

    • Similar Lenders

    We use machine learning to identify the top lenders compared against CREDIT UNION 1 based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.

    GUARANTY MORTGAGE SERVICE, INC.
    Similarity Rank: 27
    CREDIT UNION 1
    Similarity Rank: 48
    First National Bank Alaska
    Similarity Rank: 100
    MATANUSKA VALLEY FEDERAL CREDIT UNION
    Similarity Rank: 112
    NuVision Federal Credit Union
    Similarity Rank: 782
    RESIDENTIAL MORTGAGE, LLC
    Similarity Rank: 2028
    NBKC BANK
    Similarity Rank: 3689
    North American Savings Bank, F.S.B.
    Similarity Rank: 5200
    Alaska USA Federal Credit Union
    Similarity Rank: 6292
    ACADEMY MORTGAGE CORPORATION
    Similarity Rank: 7582

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 262 $54,000,000 $206,107 $3,413 6.55%
    VA 1 $295,000 $295,000 $8,790 5.75%

    For 2023, Credit Union 1's most frequently originated type of loan was Conventional, with 262 originations. Their 2nd most popular type was VA, with 1 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 109 $35,035,000 $321,422 $5,722 5.90%
    Home Improvement 71 $5,485,000 $77,254 $814 7.43%
    Cash Out Refi 44 $8,970,000 $203,864 $3,558 6.34%
    Other 33 $2,695,000 $81,667 $926 7.12%
    Refi 6 $2,110,000 $351,667 $5,718 6.04%

    For 2023, Credit Union 1's most frequently cited loan purpose was Home Purchase, with 109 originations. The 2nd most popular reason was Home Improvement, with 71 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 141 $42,045,000 $298,191 $5,396 5.91%
    20 Year 106 $8,800,000 $83,019 $682 7.50%
    15 Year 15 $3,395,000 $226,333 $4,491 5.57%
    Other 1 $55,000 $55,000 $2,446 8.25%

    For 2023, Credit Union 1's most frequently cited loan duration was 30 Year, with 141 originations. The 2nd most popular length was 20 Year, with 106 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 133 $13,495,000 $101,466
    $3k-4k 37 $12,015,000 $324,730
    $2k-3k 28 $6,250,000 $223,214
    $4k-5k 26 $10,610,000 $408,077
    $1k-2k 24 $3,150,000 $131,250
    $5k+ 15 $8,775,000 $585,000

    Credit Union 1's average total fees were $5,396, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 133 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    5-6% 102 $29,570,000 $289,902
    7-8% 96 $7,010,000 $73,021
    6-7% 60 $17,210,000 $286,833
    Over 8% 4 $280,000 $70,000
    <2.5% 1 $225,000 $225,000

    During 2023, Credit Union 1's average interest rate for loans was 5.91%, while their most frequently originated rate bucket for loans was 5-6%, with 102 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 85 $4,885,000 $57,471 $627 7.36%
    $200k-400k 83 $24,915,000 $300,181 $5,197 5.91%
    $100k-200k 63 $8,385,000 $133,095 $2,023 6.63%
    $400k-600k 27 $12,545,000 $464,630 $8,637 5.80%
    $600k-1MM 5 $3,565,000 $713,000 $11,524 6.05%

    2023 saw Credit Union 1 place emphasis on $100,000 or less loans with 85 originations, totaling $4,885,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 82 $15,940,000 $194,390 $3,232 6.77%
    $150k-250k 70 $19,840,000 $283,429 $4,842 6.40%
    $50k-75k 38 $5,200,000 $136,842 $2,251 6.54%
    $75k-100k 35 $5,815,000 $166,143 $2,502 6.74%
    $50k or less 22 $2,280,000 $103,636 $2,032 6.08%
    $250k+ 14 $4,840,000 $345,714 $5,384 6.29%

    Credit Union 1 lent most frequently to those with incomes in the $100k-150k range, with 82 originations. The second most popular income band? $150k-250k, with 70 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 59 $11,835,000 $200,593 $3,228 6.45%
    30-36% 56 $11,060,000 $197,500 $3,216 6.48%
    42% 36 $8,170,000 $226,944 $3,947 6.60%
    40% 21 $3,815,000 $181,667 $3,055 6.73%
    <20% 20 $3,450,000 $172,500 $3,258 6.43%
    41% 18 $3,980,000 $221,111 $3,569 6.68%
    37% 14 $3,170,000 $226,429 $3,411 6.70%
    39% 12 $3,290,000 $274,167 $4,678 6.44%
    38% 10 $2,170,000 $217,000 $3,588 6.55%
    36% 8 $1,540,000 $192,500 $2,918 6.72%
    43% 8 $1,490,000 $186,250 $3,492 6.69%
    47% 1 $325,000 $325,000 $5,608 5.75%

    Credit Union 1 lent most frequently to those with DTI ratios of 20-30%, with 59 originations. The next most common DTI ratio? 30-36%, with 56 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 174 $35,590,000 $204,540 $3,320 6.59%
    Not provided 28 $7,570,000 $270,357 $4,500 6.17%
    American Indian 30 $5,060,000 $168,667 $2,824 6.62%
    Asian 18 $3,180,000 $176,667 $3,182 6.64%
    Black 7 $1,765,000 $252,143 $5,147 6.11%
    Filipino 4 $1,070,000 $267,500 $5,002 6.31%
    Native Hawaiian or Islander 1 $35,000 $35,000 $334 7.75%
    Samoan 1 $25,000 $25,000 $767 7.50%

    Approval Rates

    Total approvals of all applications
    89.91%

    Credit Union 1 has an average approval rate.

    Pick Rate

    Approvals leading to origination
    67.68%

    Credit Union 1 has a low pick rate. They may have issues with closing loans or may approve everyone, but with onerous loan terms.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 263 $54,295,000 $206,445

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    263 $54,295,000 $206,445

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 49 $5,545,000 $113,163 $1,222 7.11%
    40-60% 26 $5,870,000 $225,769 $4,234 6.03%
    60-80% 54 $15,310,000 $283,519 $5,209 6.00%
    80-100% 67 $23,825,000 $355,597 $6,302 5.82%
    Under 20% 67 $3,745,000 $55,896 $439 7.49%