Credit Union 1 Mortgage Rates, Fees & Info

Anchorage, AK

LEI: 5493001K6UOKMZBPMI34

Tax ID: 92-0021481

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

Review & Overview

Credit Union 1 is a smaller credit union specializing in Cash Out Refi, Refi, and 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 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.

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%	5/4/24
30 Year Conventional Refi	5.68%	5/4/24
30 Year Cash-out Refi	5.78%	5/4/24
30 Year VA Purchase	6.17%	5/4/24
15 Year Conventional Purchase	5.21%	5/4/24
15 Year Conventional Refi	5.36%	5/4/24
15 Year Cash-out Refi	5.36%	5/4/24
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

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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

379

Origination Dollar Volume (All Markets)

$91,845,000

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
ANCHORAGE, AK (FHA\|USDA\|VA)	248	$60,840,000	$245,323	$4,490	3.36%
Outside of Metro Areas	89	$21,925,000	$246,348	$4,693	3.26%
FAIRBANKS, AK (FHA\|USDA\|VA)	31	$6,485,000	$209,194	$4,113	3.35%
Ketchikan, AK (FHA\|USDA\|VA)	11	$2,595,000	$235,909	$4,521	3.28%

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.

Titan Mortgage Capital, Inc.
Similarity Rank: 6

MATANUSKA VALLEY FEDERAL CREDIT UNION
Similarity Rank: 72

First National Bank Alaska
Similarity Rank: 275

CREDIT UNION 1
Similarity Rank: 328

GUARANTY MORTGAGE SERVICE, INC.
Similarity Rank: 392

Chickasaw Community Bank
Similarity Rank: 1788

Alaska USA Mortgage Company LLC
Similarity Rank: 1860

MID AMERICA MORTGAGE, INC.
Similarity Rank: 2920

RESIDENTIAL MORTGAGE, LLC
Similarity Rank: 4455

NuVision Federal Credit Union
Similarity Rank: 4859

Product Mix

Loan Type	Originations	Total Value	Avg. Loan	Avg. Fees	Avg. Rate
Conventional	374	$90,250,000	$241,310	$4,492	3.34%
VA	5	$1,595,000	$319,000	$5,680	3.13%

For 2020, Credit Union 1's most frequently originated type of loan was Conventional, with 374 originations. Their 2nd most popular type was VA, with 5 originations.

Loan Reason

Loan Reason	Originations	Total Value	Avg. Loan	Avg. Fees	Avg. Rate
Cash Out Refi	187	$45,295,000	$242,219	$4,804	3.29%
Refi	106	$25,000,000	$235,849	$4,400	3.14%
Home Purchase	86	$21,550,000	$250,581	$3,996	3.66%

For 2020, Credit Union 1's most frequently cited loan purpose was Cash Out Refi, with 187 originations. The 2nd most popular reason was Refi, with 106 originations.

Loan Duration/Length

Loan Length	Originations	Total Value	Average Loan	Average Fees	Average Rate
30 Year	245	$66,455,000	$271,245	$4,875	3.40%
15 Year	117	$23,405,000	$200,043	$4,006	2.90%
20 Year	10	$1,270,000	$127,000	$2,787	4.56%
Other	5	$345,000	$69,000	$1,942	8.25%
10 Year	2	$370,000	$185,000	$3,846	2.63%

For 2020, Credit Union 1's most frequently cited loan duration was 30 Year, with 245 originations. The 2nd most popular length was 15 Year, with 117 originations.

Origination Fees/Closing Costs

Origination Fee/Closing Cost	Originations	Total Value	Average Loan
$2k-3k	151	$34,085,000	$225,728
$1k-2k	76	$10,190,000	$134,079
$3k-4k	73	$23,165,000	$317,329
$<1k	41	$6,795,000	$165,732
$4k-5k	22	$9,130,000	$415,000
$5k+	16	$8,480,000	$530,000

Credit Union 1's average total fees were $4,875, while their most frequently occuring range of origination fees (closing costs) were in the $2k-3k bucket, with 151 originations.

Interest Rates

Loan Rate	Originations	Total Value	Average Loan
3-4%	248	$65,710,000	$264,960
2.5-3%	117	$24,035,000	$205,427
Over 8%	5	$345,000	$69,000
6-7%	3	$215,000	$71,667
<2.5%	3	$655,000	$218,333
4-5%	2	$780,000	$390,000
5-6%	1	$105,000	$105,000

During 2020, Credit Union 1's average interest rate for loans was 3.40%, while their most frequently originated rate bucket for loans was 3-4%, with 248 originations.

Loan Sizing

Loan Size	Originations	Total Value	Average Loan	Average Fees	Average Rate
$200k-400k	216	$59,090,000	$273,565	$4,971	3.27%
$100k-200k	108	$17,060,000	$157,963	$3,319	3.22%
$100,000 or less	27	$1,975,000	$73,148	$1,851	4.24%
$400k-600k	27	$13,015,000	$482,037	$7,960	3.39%
$600k-1MM	1	$705,000	$705,000	$11,269	3.38%

2020 saw Credit Union 1 place emphasis on $200k-400k loans with 216 originations, totaling $59,090,000 in origination value.

Applicant Income

Applicant Income	Originations	Total Value	Average Loan	Average Fees	Average Rate
$100k-150k	103	$25,485,000	$247,427	$4,686	3.34%
$75k-100k	96	$21,930,000	$228,438	$4,209	3.28%
$50k-75k	78	$16,150,000	$207,051	$3,933	3.33%
$150k-250k	57	$17,705,000	$310,614	$5,666	3.45%
$50k or less	22	$3,160,000	$143,636	$2,974	3.55%
$250k+	12	$4,840,000	$403,333	$6,666	3.19%

Credit Union 1 lent most frequently to those with incomes in the $100k-150k range, with 103 originations. The second most popular income band? $75k-100k, with 96 originations.

Applicant Debt to Income Ratio

DTI Ratio	Originations	Total Value	Average Loan	Average Fees	Average Rate
20-30%	106	$25,830,000	$243,679	$4,558	3.25%
30-36%	82	$20,200,000	$246,341	$4,524	3.40%
<20%	43	$8,225,000	$191,279	$3,676	3.30%
42%	28	$7,210,000	$257,500	$4,840	3.39%
38%	22	$6,060,000	$275,455	$4,884	3.20%
40%	21	$4,745,000	$225,952	$4,047	3.64%
36%	19	$5,605,000	$295,000	$5,610	3.22%
39%	18	$4,600,000	$255,556	$4,871	3.35%
41%	17	$3,725,000	$219,118	$4,167	3.50%
37%	16	$3,820,000	$238,750	$4,422	3.30%
45%	3	$755,000	$251,667	$4,847	3.29%
44%	2	$720,000	$360,000	$6,612	3.13%
>60%	1	$115,000	$115,000	$2,400	3.13%
43%	1	$235,000	$235,000	$2,247	3.38%

Credit Union 1 lent most frequently to those with DTI ratios of 20-30%, with 106 originations. The next most common DTI ratio? 30-36%, with 82 originations.

Ethnicity Mix

Applicant Ethnicity	Originations	Total Value	Average Loan	Average Fees	Average Rate
White	246	$60,870,000	$247,439	$4,579	3.34%
Not provided	39	$8,685,000	$222,692	$4,189	3.37%
American Indian	35	$8,145,000	$232,714	$4,341	3.24%
Asian	31	$7,065,000	$227,903	$4,237	3.29%
Filipino	8	$2,360,000	$295,000	$5,448	3.19%
Black	12	$2,300,000	$191,667	$3,949	3.64%
Korean	2	$730,000	$365,000	$6,645	3.38%
Asian Indian	2	$700,000	$350,000	$5,965	3.13%
Native Hawaiian or Islander	2	$620,000	$310,000	$5,515	3.38%
Samoan	1	$265,000	$265,000	$5,194	3.38%
Other Asian	1	$105,000	$105,000	$2,928	2.88%

Approval Rates

Total approvals of all applications
88.06%

Credit Union 1 has an average approval rate.

Pick Rate

Approvals leading to origination
31.13%

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	379	$91,845,000	$242,335

Occupancy Type Mix

Dwelling Type	Originations	Total Value	Average Loan
Single Family (1-4 Units):Site-Built	379	$91,845,000	$242,335

LTV Distribution

Loan to Value	Originations	Total Value	Average Loan	Average Fees	Average Rate
20-40%	29	$3,455,000	$119,138	$2,748	3.16%
40-60%	44	$8,730,000	$198,409	$3,877	3.13%
60-80%	149	$37,225,000	$249,832	$4,768	3.41%
80-100%	151	$41,845,000	$277,119	$4,857	3.32%
Over 100%	1	$265,000	$265,000	$7,165	3.63%
Under 20%	5	$325,000	$65,000	$1,446	4.33%

Complaints

Bank Name	Product	Issue	2020 CPFB Complaints	% of Total Issues
Credit Plus Inc	Conventional home mortgage	Improper use of your report	1	50.0%
Credit Plus Inc	FHA mortgage	Applying for a mortgage or refinancing an existing mortgage	1	50.0%