Piedmont Advantage Credit Union Mortgage Rates, Fees & Info
Winston-Salem, NCLEI: 5493002BRQ8SVQPCV108
Tax ID: 56-6048494
Latest/2024 | 2023 Data | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data
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Mortgage Data
Review & Overview
Piedmont Advantage Credit Union is a smaller credit union specializing in Other loans. Piedmont Advantage Credit Union has a high proportion of conventional loans. Their top markets by origination volume include: Charlotte, Winston, Greensboro, Hickory, and Atlanta among others. We have data for 10 markets. (Some data included below & more in-depth data is available with an active subscription.)Piedmont Advantage Credit Union has a below average approval rate when compared to the average across all lenders. They have an average pick rate when compared to similar lenders.
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Originations
64Origination Dollar Volume (All Markets)
$5,360,000Top 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 |
|---|---|---|---|---|---|
| CHARLOTTE-CONCORD-GASTONIA, NC-SC (FHA|USDA|VA) | 29 | $2,805,000 | $96,724 | $644 | 8.13% |
| WINSTON-SALEM, NC (FHA|USDA|VA) | 20 | $1,270,000 | $63,500 | $291 | 8.46% |
| GREENSBORO-HIGH POINT, NC (FHA|USDA|VA) | 6 | $380,000 | $63,333 | $387 | 8.08% |
| HICKORY-LENOIR-MORGANTON, NC (FHA|USDA|VA) | 2 | $280,000 | $140,000 | $313 | 7.88% |
| ATLANTA-SANDY SPRINGS-ALPHARETTA, GA (FHA|USDA|VA) | 2 | $170,000 | $85,000 | $288 | 8.25% |
| ASHEVILLE, NC (FHA|USDA|VA) | 1 | $155,000 | $155,000 | $283 | 7.75% |
| Morehead City, NC (FHA|USDA|VA) | 1 | $135,000 | $135,000 | $288 | 7.75% |
| RALEIGH-CARY, NC (FHA|USDA|VA) | 1 | $55,000 | $55,000 | $0 | 9.25% |
| Sanford, NC (FHA|USDA|VA) | 1 | $55,000 | $55,000 | $0 | 9.00% |
| Martinsville, VA (FHA|USDA|VA) | 1 | $55,000 | $55,000 | $0 | 9.25% |
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 37 | $2,725,000 | $73,649 | $435 | 7.76% |
| HELOC | 27 | $2,635,000 | $97,593 | n/a | 8.95% |
For 2024, Piedmont Advantage Credit Union's most frequently originated type of loan was Conventional, with 37 originations. Their 2nd most popular type was HELOC, with 27 originations.
Loan Reason
For 2024, Piedmont Advantage Credit Union's most frequently cited loan purpose was Other, with 37 originations. The 2nd most popular reason was Home Improvement, with 15 originations.
Loan Duration/Length
For 2024, Piedmont Advantage Credit Union's most frequently cited loan duration was Other, with 31 originations. The 2nd most popular length was 20 Year, with 25 originations.
Origination Fees/Closing Costs
| Origination Fee/Closing Cost | Originations | Total Value | Average Loan |
|---|---|---|---|
| $<1k | 37 | $2,725,000 | $73,649 |
Piedmont Advantage Credit Union's average total fees were $0, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 37 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| Over 8% | 37 | $3,055,000 | $82,568 |
| 7-8% | 24 | $1,830,000 | $76,250 |
| 5-6% | 2 | $410,000 | $205,000 |
| 6-7% | 1 | $65,000 | $65,000 |
During 2024, Piedmont Advantage Credit Union's average interest rate for loans was 0.00%, while their most frequently originated rate bucket for loans was Over 8%, with 37 originations.
Loan Sizing
2024 saw Piedmont Advantage Credit Union place emphasis on $100,000 or less loans with 45 originations, totaling $2,335,000 in origination value.
Applicant Income
Piedmont Advantage Credit Union lent most frequently to those with incomes in the $100k-150k range, with 21 originations. The second most popular income band? $150k-250k, with 13 originations.
Applicant Debt to Income Ratio
Piedmont Advantage Credit Union lent most frequently to those with DTI ratios of 20-30%, with 15 originations. The next most common DTI ratio? 30-36%, with 9 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications55.74%
Piedmont Advantage Credit Union has a low approval rate. They may have poor market targeting or stringent lending standards.
Pick Rate
Approvals leading to origination93.75%
Piedmont Advantage Credit Union has an average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 64 | $5,360,000 | $83,750 |