Americu Credit Union Mortgage Rates, Fees & Info

Rome, NY

LEI: 5493002C1SVHOFTWF108

Tax ID: 15-0542361

5 stars - Updated: 6/17/24 - out of 5 stars, based on 40 reviews

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

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Mortgage Data

Review & Overview

Americu Credit Union is a smaller credit union specializing in Home Improvement, Home Purchase, and Refi loans. Americu Credit Union has a high proportion of conventional loans. They have a a low proportion of FHA loans. (This may mean they shy away from first time homebuyers.) Their top markets by origination volume include: Syracuse, Utica, Watertown, Auburn, and Albany among others. We have data for 21 markets. (Some data included below & more in-depth data is available with an active subscription.)

Americu Credit Union 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. Americu Credit Union 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.

Mortgage professionals: We have various tools to make your lives easier. Contact us to see how we can help with your market research, analytics or advertising needs.

SimulatedRates™

Mortgage Type
Simulated Rate Simulation Date
Home Equity Line of Credit (HELOC) 6.27% 6/17/24
30 Year Conventional Purchase 6.63% 6/17/24
30 Year Conventional Refi 6.07% 6/17/24
30 Year Cash-out Refi 6.60% 6/17/24
30 Year FHA Purchase 6.90% 6/17/24
15 Year Conventional Purchase 5.82% 6/17/24
15 Year Conventional Refi 5.73% 6/17/24
15 Year Cash-out Refi 5.73% 6/17/24
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.

Americu Credit Union Mortgage Calculator






Your Estimates

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

This is not an official calculator from Americu Credit Union. 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

1,564

Origination Dollar Volume (All Markets)

$176,030,000
Show all (7) awards

Relative Rate

Americu Credit Union's average 30 year fixed mortgage rate was 5.82%.

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

This yields a difference of -0.66%.

Relative Fees (Closing Costs)

Americu Credit Union's average total fees/closing costs for a 30 year fixed rate mortgage were $5,079.

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
SYRACUSE, NY (FHA|USDA|VA) 752 $91,510,000 $121,689 $1,212 5.81%
UTICA-ROME, NY (FHA|USDA|VA) 464 $43,870,000 $94,547 $1,333 5.91%
WATERTOWN-FORT DRUM, NY (FHA|USDA|VA) 161 $20,145,000 $125,124 $2,328 6.02%
Auburn, NY (FHA|USDA|VA) 81 $6,945,000 $85,741 $1,321 5.87%
Outside of Metro Areas 34 $4,100,000 $120,588 $3,122 5.78%
ALBANY-SCHENECTADY-TROY, NY (FHA|USDA|VA) 9 $1,775,000 $197,222 $2,075 5.70%
ROCHESTER, NY (FHA|USDA|VA) 15 $1,635,000 $109,000 $2,004 6.06%
Ogdensburg-Massena, NY (FHA|USDA|VA) 9 $1,355,000 $150,556 $3,559 5.53%
Cortland, NY (FHA|USDA|VA) 12 $810,000 $67,500 $1,972 5.28%
Olean, NY (FHA|USDA|VA) 1 $785,000 $785,000 $0 6.00%
ITHACA, NY (FHA|USDA|VA) 5 $775,000 $155,000 $409 6.27%
Oneonta, NY (FHA|USDA|VA) 5 $685,000 $137,000 $1,907 6.10%
GLENS FALLS, NY (FHA|USDA|VA) 1 $305,000 $305,000 $6,246 5.50%
Corning, NY (FHA|USDA|VA) 1 $295,000 $295,000 $6,494 5.75%
New York-Newark-Jersey City, NY-NJ-PA (FHA|USDA|VA) 3 $285,000 $95,000 $762 6.75%
Gloversville, NY (FHA|USDA|VA) 3 $225,000 $75,000 $1,764 5.83%
Seneca Falls, NY (FHA|USDA|VA) 2 $160,000 $80,000 $409 5.75%
Amsterdam, NY (FHA|USDA|VA) 2 $160,000 $80,000 $409 5.69%
Malone, NY (FHA|USDA|VA) 1 $125,000 $125,000 $3,895 5.50%
BUFFALO-CHEEKTOWAGA, NY (FHA|USDA|VA) 2 $70,000 $35,000 $0 3.99%
Plattsburgh, NY (FHA|USDA|VA) 1 $15,000 $15,000 $462 5.00%
Americu Credit Union's top markets include Syracuse, Utica, Watertown, Auburn, and Albany among others.

Their top states include:
  • New York (FHA|USDA|VA)
  • Similar Lenders

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

    Watertown Savings Bank
    Similarity Rank: 12
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    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 1,142 $130,110,000 $113,932 $1,231 6.18%
    HELOC 359 $34,395,000 $95,808 n/a 4.84%
    FHA 49 $7,845,000 $160,102 $6,890 5.96%
    VA 14 $3,680,000 $262,857 $9,447 5.78%

    For 2023, Americu Credit Union's most frequently originated type of loan was Conventional, with 1,142 originations. Their 2nd most popular type was HELOC, with 359 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Improvement 555 $39,465,000 $71,108 $690 5.69%
    Other 410 $29,550,000 $72,073 $555 5.99%
    Home Purchase 299 $59,825,000 $200,084 $4,787 5.91%
    Refi 289 $45,625,000 $157,872 $698 5.95%
    Cash Out Refi 11 $1,565,000 $142,273 $4,373 6.00%

    For 2023, Americu Credit Union's most frequently cited loan purpose was Home Improvement, with 555 originations. The 2nd most popular reason was Other, with 410 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    10 Year 377 $53,245,000 $141,233 $539 6.15%
    Other 363 $34,605,000 $95,331 $604 4.85%
    30 Year 251 $47,985,000 $191,175 $5,079 5.82%
    15 Year 204 $15,070,000 $73,873 $732 6.49%
    20 Year 197 $16,765,000 $85,102 $637 7.05%
    5 Year 165 $5,855,000 $35,485 $468 5.30%
    30+ year 7 $2,505,000 $357,857 $0 6.07%

    For 2023, Americu Credit Union's most frequently cited loan duration was 10 Year, with 377 originations. The 2nd most popular length was Other, with 363 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 862 $54,930,000 $63,724
    $1k-2k 116 $19,290,000 $166,293
    $2k-3k 58 $11,380,000 $196,207
    $3k-4k 23 $4,675,000 $203,261
    $4k-5k 7 $2,025,000 $289,286
    $5k+ 3 $1,085,000 $361,667

    Americu Credit Union's average total fees were $5,079, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 862 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    5-6% 533 $68,445,000 $128,415
    6-7% 444 $53,650,000 $120,833
    7-8% 160 $18,240,000 $114,000
    3-4% 153 $13,805,000 $90,229
    Over 8% 93 $6,995,000 $75,215
    4-5% 93 $4,965,000 $53,387
    <2.5% 81 $9,205,000 $113,642
    2.5-3% 7 $725,000 $103,571

    During 2023, Americu Credit Union's average interest rate for loans was 5.82%, while their most frequently originated rate bucket for loans was 5-6%, with 533 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 994 $48,600,000 $48,893 $675 5.91%
    $100k-200k 372 $51,570,000 $138,629 $2,730 5.88%
    $200k-400k 164 $43,440,000 $264,878 $4,709 5.49%
    $400k-600k 14 $6,670,000 $476,429 $7,406 5.32%
    $600k-1MM 11 $8,235,000 $748,636 $9,773 6.45%
    $1MM+ 9 $17,515,000 $1,946,111 $0 6.65%

    2023 saw Americu Credit Union place emphasis on $100,000 or less loans with 994 originations, totaling $48,600,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 388 $38,300,000 $98,711 $1,306 5.92%
    $75k-100k 331 $29,735,000 $89,834 $1,603 5.84%
    $50k-75k 316 $23,320,000 $73,797 $1,710 5.71%
    $150k-250k 226 $29,340,000 $129,823 $1,437 5.87%
    $50k or less 167 $9,535,000 $57,096 $1,173 5.76%
    $250k+ 52 $8,890,000 $170,962 $1,193 5.39%

    Americu Credit Union lent most frequently to those with incomes in the $100k-150k range, with 388 originations. The second most popular income band? $75k-100k, with 331 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 337 $29,475,000 $87,463 $1,381 5.63%
    30-36% 261 $24,625,000 $94,349 $1,474 5.75%
    <20% 113 $8,635,000 $76,416 $965 5.40%
    44% 86 $8,140,000 $94,651 $1,077 5.99%
    43% 81 $8,125,000 $100,309 $1,580 6.27%
    42% 78 $6,360,000 $81,538 $1,518 5.71%
    40% 66 $6,180,000 $93,636 $1,486 6.19%
    39% 60 $6,090,000 $101,500 $1,899 5.96%
    38% 60 $6,410,000 $106,833 $2,537 5.90%
    41% 49 $5,455,000 $111,327 $1,732 6.05%
    37% 48 $3,860,000 $80,417 $1,316 5.91%
    36% 48 $4,360,000 $90,833 $1,318 5.99%
    45% 47 $4,055,000 $86,277 $872 6.38%
    46% 32 $2,370,000 $74,063 $1,285 6.01%
    49% 32 $4,080,000 $127,500 $1,514 5.00%
    48% 30 $3,810,000 $127,000 $949 5.73%
    47% 29 $3,215,000 $110,862 $1,216 6.29%
    50-60% 17 $2,865,000 $168,529 $6,167 5.33%
    >60% 5 $685,000 $137,000 $409 7.60%

    Americu Credit Union lent most frequently to those with DTI ratios of 20-30%, with 337 originations. The next most common DTI ratio? 30-36%, with 261 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 1,351 $127,165,000 $94,127 $1,475 5.78%
    Not applicable 82 $36,720,000 $447,805 $0 6.71%
    Not provided 61 $5,325,000 $87,295 $631 6.27%
    Black 40 $3,550,000 $88,750 $1,928 6.26%
    Asian 17 $1,795,000 $105,588 $1,380 6.29%
    American Indian 8 $830,000 $103,750 $423 5.35%
    Native Hawaiian or Islander 4 $580,000 $145,000 $4,444 5.47%
    Other Pacific Islander 1 $65,000 $65,000 $462 6.00%

    Approval Rates

    Total approvals of all applications
    71.59%

    Americu Credit Union has a below average approval rate.

    Pick Rate

    Approvals leading to origination
    86.25%

    Americu Credit Union has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    0.0 1 $145,000 $145,000
    NA 1,563 $175,885,000 $112,530

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    1,564 $176,030,000 $112,551

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 498 $33,700,000 $67,671 $570 5.99%
    40-60% 185 $20,105,000 $108,676 $769 5.92%
    60-80% 235 $52,315,000 $222,617 $2,167 5.77%
    80-100% 231 $52,605,000 $227,727 $5,064 5.84%
    Over 100% 5 $1,315,000 $263,000 $11,585 5.70%
    Under 20% 410 $15,990,000 $39,000 $500 5.74%