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
  • 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 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 above 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

    265

    Origination Dollar Volume (All Markets)

    $73,775,000
    Show all (5) awards

    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) 186 $53,680,000 $288,602 $5,091 4.18%
    Outside of Metro Areas 54 $14,240,000 $263,704 $4,843 4.08%
    FAIRBANKS, AK (FHA|USDA|VA) 18 $3,920,000 $217,778 $4,023 3.77%
    Ketchikan, AK (FHA|USDA|VA) 7 $1,935,000 $276,429 $5,293 4.39%
    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.

    MATANUSKA VALLEY FEDERAL CREDIT UNION
    Similarity Rank: 36
    CREDIT UNION 1
    Similarity Rank: 84
    First National Bank Alaska
    Similarity Rank: 230
    RESIDENTIAL MORTGAGE, LLC
    Similarity Rank: 1596
    NuVision Federal Credit Union
    Similarity Rank: 1800
    Alaska USA Mortgage Company LLC
    Similarity Rank: 2075
    LAKEVIEW LOAN SERVICING, LLC
    Similarity Rank: 3156
    PENTAGON FEDERAL CREDIT UNION
    Similarity Rank: 5360
    BETTER MORTGAGE CORPORATION
    Similarity Rank: 6165
    PENNYMAC LOAN SERVICES, LLC
    Similarity Rank: 6279

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 260 $72,030,000 $277,038 $4,922 4.14%
    VA 5 $1,745,000 $349,000 $7,603 4.25%

    For 2022, Credit Union 1's most frequently originated type of loan was Conventional, with 260 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 128 $31,030,000 $242,422 $4,505 4.15%
    Home Purchase 117 $38,415,000 $328,333 $5,608 4.22%
    Refi 19 $4,305,000 $226,579 $4,396 3.41%
    Home Improvement 1 $25,000 $25,000 $1,485 8.25%

    For 2022, Credit Union 1's most frequently cited loan purpose was Cash Out Refi, with 128 originations. The 2nd most popular reason was Home Purchase, with 117 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 205 $63,735,000 $310,902 $5,545 3.95%
    15 Year 30 $5,530,000 $184,333 $3,738 3.28%
    20 Year 26 $4,190,000 $161,154 $2,327 5.98%
    Other 4 $320,000 $80,000 $2,126 8.38%

    For 2022, Credit Union 1's most frequently cited loan duration was 30 Year, with 205 originations. The 2nd most popular length was 15 Year, with 30 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $2k-3k 69 $15,685,000 $227,319
    $3k-4k 64 $21,460,000 $335,313
    $<1k 45 $6,695,000 $148,778
    $1k-2k 33 $4,475,000 $135,606
    $4k-5k 32 $13,180,000 $411,875
    $5k+ 22 $12,280,000 $558,182

    Credit Union 1's average total fees were $5,545, while their most frequently occuring range of origination fees (closing costs) were in the $2k-3k bucket, with 69 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    3-4% 137 $40,095,000 $292,664
    4-5% 47 $15,965,000 $339,681
    5-6% 35 $10,715,000 $306,143
    2.5-3% 23 $4,615,000 $200,652
    6-7% 15 $1,585,000 $105,667
    Over 8% 4 $320,000 $80,000
    7-8% 3 $325,000 $108,333
    <2.5% 1 $155,000 $155,000

    During 2022, Credit Union 1's average interest rate for loans was 3.95%, while their most frequently originated rate bucket for loans was 3-4%, with 137 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 144 $42,280,000 $293,611 $5,281 3.93%
    $100k-200k 55 $8,625,000 $156,818 $2,999 4.05%
    $400k-600k 39 $18,655,000 $478,333 $8,246 4.13%
    $100,000 or less 23 $1,465,000 $63,696 $1,207 5.69%
    $600k-1MM 4 $2,750,000 $687,500 $10,755 4.22%

    2022 saw Credit Union 1 place emphasis on $200k-400k loans with 144 originations, totaling $42,280,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 83 $24,295,000 $292,711 $5,312 4.25%
    $75k-100k 71 $18,465,000 $260,070 $4,549 4.18%
    $50k-75k 50 $10,520,000 $210,400 $3,762 3.78%
    $150k-250k 37 $13,635,000 $368,514 $6,603 4.21%
    $250k+ 11 $4,935,000 $448,636 $7,907 4.36%
    $50k or less 10 $1,130,000 $113,000 $2,076 4.51%

    Credit Union 1 lent most frequently to those with incomes in the $100k-150k range, with 83 originations. The second most popular income band? $75k-100k, with 71 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 69 $17,835,000 $258,478 $4,802 4.08%
    30-36% 46 $13,900,000 $302,174 $5,368 3.89%
    42% 31 $8,245,000 $265,968 $4,549 4.63%
    <20% 26 $6,560,000 $252,308 $4,704 4.39%
    40% 24 $6,200,000 $258,333 $4,659 4.28%
    41% 20 $5,880,000 $294,000 $5,478 3.92%
    39% 13 $4,115,000 $316,538 $5,620 3.79%
    37% 13 $3,715,000 $285,769 $4,785 3.95%
    36% 12 $4,230,000 $352,500 $5,991 4.02%
    38% 7 $1,365,000 $195,000 $2,498 4.71%
    43% 3 $1,265,000 $421,667 $7,233 4.46%
    44% 1 $465,000 $465,000 $8,565 3.38%

    Credit Union 1 lent most frequently to those with DTI ratios of 20-30%, with 69 originations. The next most common DTI ratio? 30-36%, with 46 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 200 $55,490,000 $277,450 $4,983 4.23%
    Not provided 23 $7,295,000 $317,174 $5,519 3.79%
    American Indian 23 $5,615,000 $244,130 $4,525 3.98%
    Asian 13 $3,685,000 $283,462 $4,873 3.63%
    Black 4 $1,130,000 $282,500 $4,680 4.19%
    Filipino 1 $375,000 $375,000 $6,706 4.50%
    Korean 1 $185,000 $185,000 $1,535 3.38%

    Approval Rates

    Total approvals of all applications
    90.87%

    Credit Union 1 has an average approval rate.

    Pick Rate

    Approvals leading to origination
    61.13%

    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 265 $73,775,000 $278,396

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    265 $73,775,000 $278,396

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 15 $1,545,000 $103,000 $2,175 4.38%
    40-60% 23 $4,415,000 $191,957 $3,521 3.71%
    60-80% 94 $26,370,000 $280,532 $5,184 4.15%
    80-100% 120 $40,250,000 $335,417 $5,763 3.94%
    Over 100% 1 $385,000 $385,000 $15,023 3.88%
    Under 20% 12 $810,000 $67,500 $868 6.63%