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

Jump to:

  • SimulatedRates™
  • Mortgage Calculator

    • Mortgage Data

  • Originations
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • Complaints
  • 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 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% 12/3/24
    30 Year Conventional Refi 5.68% 12/3/24
    30 Year Cash-out Refi 5.78% 12/3/24
    30 Year VA Purchase 6.17% 12/3/24
    15 Year Conventional Purchase 5.21% 12/3/24
    15 Year Conventional Refi 5.36% 12/3/24
    15 Year Cash-out Refi 5.36% 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.

    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

    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%