Americu Credit Union Mortgage Rates, Fees & Info

Rome, NY

LEI: 5493002C1SVHOFTWF108

Tax ID: 15-0542361

5 stars - out of 5 stars, based on 47 reviews

2021 Data | 2020 Data | 2019 Data | 2018 Data


Overview

Americu Credit Union is a smaller credit union specializing in Home Purchase loans. Americu Credit Union has a high proportion of conventional loans. Their top markets include Syracuse, Utica, Watertown, Auburn, and Ogdensburg among others. Americu Credit Union has an average approval rate for mortages when compared nationally. They have a below average pick rate when compared to the same sample of other lendors. Americu Credit Union is typically an average fee lendor.


Originations

2,241

Origination Dollar Volume (All Markets)

$310,645,000

Awards

AMERICU Credit Union 30 Year Conventional Loans bronze
Show all (1) awards

Relative Rate

Americu Credit Union's average 30 year fixed rate mortgage of loans were 3.51%.

The 2021 average 30 year fixed rate mortgage across all markets of loans were 3.15%.

This yields a difference of 0.36%.

Relative Fees

Americu Credit Union's average total fees for a 30 year fixed rate mortgage are $3,643.

The average total origination fees for 30 year fixed rate mortgages (for all loan values, including both points & up-front fees in addition to origination fees) are $4,750.

Top Markets

Market Originations Total Value Average Loan Average Fees Average Rate
SYRACUSE, NY (FHA|USDA|VA) 860 $115,470,000 $134,267 $2,930 3.42%
UTICA-ROME, NY (FHA|USDA|VA) 800 $106,680,000 $133,350 $2,924 3.31%
WATERTOWN-FORT DRUM, NY (FHA|USDA|VA) 269 $43,535,000 $161,840 $3,133 3.30%
Auburn, NY (FHA|USDA|VA) 113 $12,895,000 $114,115 $2,554 3.49%
Outside of Metro Areas 82 $11,290,000 $137,683 $3,029 3.23%
Ogdensburg-Massena, NY (FHA|USDA|VA) 18 $3,460,000 $192,222 $3,284 3.05%
Cortland, NY (FHA|USDA|VA) 23 $3,275,000 $142,391 $3,796 3.44%
ROCHESTER, NY (FHA|USDA|VA) 17 $3,175,000 $186,765 $3,702 3.81%
Oneonta, NY (FHA|USDA|VA) 13 $2,395,000 $184,231 $4,159 3.56%
ALBANY-SCHENECTADY-TROY, NY (FHA|USDA|VA) 8 $1,790,000 $223,750 $4,238 3.29%
Amsterdam, NY (FHA|USDA|VA) 6 $1,070,000 $178,333 $3,512 2.80%
BUFFALO-CHEEKTOWAGA, NY (FHA|USDA|VA) 6 $1,060,000 $176,667 $3,079 3.50%
Malone, NY (FHA|USDA|VA) 5 $915,000 $183,000 $3,901 3.43%
ITHACA, NY (FHA|USDA|VA) 6 $820,000 $136,667 $3,540 3.42%
Gloversville, NY (FHA|USDA|VA) 4 $800,000 $200,000 $6,954 3.46%
New York-Newark-Jersey City, NY-NJ-PA (FHA|USDA|VA) 1 $405,000 $405,000 $0 0.00%
BINGHAMTON, NY (FHA|USDA|VA) 2 $390,000 $195,000 $3,839 3.75%
TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) 1 $365,000 $365,000 $5,584 3.25%
Corning, NY (FHA|USDA|VA) 2 $230,000 $115,000 $3,387 3.75%
ELMIRA, NY (FHA|USDA|VA) 2 $230,000 $115,000 $2,442 3.13%
Olean, NY (FHA|USDA|VA) 1 $205,000 $205,000 $3,664 3.25%
GLENS FALLS, NY (FHA|USDA|VA) 1 $185,000 $185,000 $1,410 2.00%
Seneca Falls, NY (FHA|USDA|VA) 1 $5,000 $5,000 $0 0.00%

Americu Credit Union's top markets include Syracuse, Utica, Watertown, Auburn, and Ogdensburg among others.

Product Mix

Loan Type Originations Total Value Average Loan Average Fees Average Rate
Conventional 2,241 $310,645,000 $138,619 $2,988 3.36%

For the 2021 period, Americu Credit Union's most frequently originated loan type of loans were Conventional, with 2,241 originations.

Loan Reason

Loan Reason Originations Total Value Average Loan Average Fees Average Rate
Home Purchase 902 $150,970,000 $167,373 $3,688 3.47%
Refi 384 $48,740,000 $126,927 $1,784 2.97%
Cash Out Refi 379 $50,075,000 $132,124 $1,778 3.44%
Home Improvement 322 $41,510,000 $128,913 $5,001 3.28%
Other 254 $19,350,000 $76,181 $0 3.67%

For the 2021, Americu Credit Union's most frequently cited loan purpose of loans were Home Purchase, with 902 originations. The 2nd most popular reason of loans were Refi, with 384 originations.

Loan Duration/Length

Loan Length Originations Total Value Average Loan Average Fees Average Rate
30 Year 1,017 $179,625,000 $176,622 $3,643 3.51%
Other 492 $39,870,000 $81,037 $1,922 3.20%
15 Year 404 $54,900,000 $135,891 $2,086 2.75%
10 Year 177 $18,855,000 $106,525 $1,047 3.85%
20 Year 115 $15,985,000 $139,000 $2,471 3.57%
5 Year 35 $1,385,000 $39,571 $529 3.59%
3 Year 1 $25,000 $25,000 $450 3.74%

For the 2021, Americu Credit Union's most frequently cited loan length of loans were 30 Year, with 1,017 originations. The 2nd most popular length of loans were Other, with 492 originations.

Origination Fees

Origination Fee Originations Total Value Average Loan
$<1k 824 $104,810,000 $127,197
$1k-2k 603 $101,365,000 $168,101
$2k-3k 149 $33,265,000 $223,255
$3k-4k 69 $17,355,000 $251,522
$5k+ 14 $4,690,000 $335,000

$3,643 of loans were Americu Credit Union's average total fees, while their most frequently occuring range of origination fees were in the $<1k bucket, with 824 originations.

Interest Rates

Loan Rate Originations Total Value Average Loan
3-4% 1,023 $167,405,000 $163,641
<2.5% 296 $44,710,000 $151,047
2.5-3% 242 $43,740,000 $180,744
4-5% 108 $13,810,000 $127,870
5-6% 27 $1,795,000 $66,481
6-7% 9 $425,000 $47,222
7-8% 2 $90,000 $45,000

During 2021, Americu Credit Union's average interest rate of loans were 3.51%, while their most frequently originated rate bucket of loans were 3-4%, with 1,023 originations.

Loan Sizing

Loan Size Originations Total Value Average Loan Average Fees Average Rate
$100k-200k 911 $129,575,000 $142,234 $2,993 3.29%
$100,000 or less 881 $51,415,000 $58,360 $1,842 3.61%
$200k-400k 406 $107,930,000 $265,837 $4,149 3.21%
$400k-600k 36 $16,370,000 $454,722 $5,194 3.13%
$600k-1MM 5 $3,065,000 $613,000 $4,796 3.40%
$1MM+ 2 $2,290,000 $1,145,000 $0 4.30%

2021 saw Americu Credit Union place emphasis on $100k-200k loans with 911 originations, totaling $129,575,000 in origination value.

Applicant Income

Applicant Income Originations Total Value Average Loan Average Fees Average Rate
$50k-75k 567 $64,755,000 $114,206 $2,894 3.40%
$100k-150k 486 $79,020,000 $162,593 $3,239 3.27%
$75k-100k 478 $64,900,000 $135,774 $2,949 3.29%
$50k or less 385 $36,335,000 $94,377 $2,734 3.56%
$150k-250k 247 $46,775,000 $189,372 $3,132 3.04%
$250k+ 42 $10,030,000 $238,810 $4,010 3.06%

Americu Credit Union lent most frequently to those with incomes in the $50k-75k range, with 567 originations. The second most popular income band? $100k-150k, with 486 originations.

Applicant Debt to Income Ratio

DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
20-30% 629 $84,675,000 $134,618 $2,996 3.18%
30-36% 476 $69,220,000 $145,420 $3,135 3.36%
<20% 294 $33,790,000 $114,932 $2,479 3.11%
42% 91 $12,025,000 $132,143 $2,687 3.51%
41% 89 $12,795,000 $143,764 $2,808 3.55%
36% 89 $11,585,000 $130,169 $3,242 3.52%
37% 84 $12,130,000 $144,405 $2,949 3.45%
39% 79 $10,825,000 $137,025 $3,148 3.62%
38% 73 $11,415,000 $156,370 $3,104 3.43%
40% 67 $9,845,000 $146,940 $2,883 3.47%
43% 62 $9,440,000 $152,258 $3,410 3.39%
45% 43 $5,785,000 $134,535 $3,285 3.47%
44% 42 $7,290,000 $173,571 $3,362 3.37%
50-60% 33 $4,495,000 $136,212 $2,714 3.96%
46% 30 $3,780,000 $126,000 $2,752 3.37%
49% 15 $1,415,000 $94,333 $2,378 3.34%
47% 12 $1,810,000 $150,833 $3,228 3.32%
48% 11 $1,055,000 $95,909 $2,700 3.75%
>60% 5 $1,185,000 $237,000 $2,452 3.87%

Americu Credit Union lent most frequently to those with DTI ratios of 20-30%, with 629 originations. The next most common DTI ratio? 30-36%, with 476 originations.

Ethnicity Mix

Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
White 2,106 $291,130,000 $138,238 $2,978 3.33%
Not applicable 28 $6,930,000 $247,500 $0 4.38%
Asian 36 $5,550,000 $154,167 $3,599 3.52%
Black 36 $3,800,000 $105,556 $2,968 3.69%
Not provided 24 $2,200,000 $91,667 $3,919 3.90%
American Indian 8 $740,000 $92,500 $2,488 3.35%
Other Asian 2 $240,000 $120,000 $2,415 4.06%
Native Hawaiian 1 $55,000 $55,000 $0 0.00%

Approval Rates

Total approvals of all applications
78.70%

Americu Credit Union has a below average approval rate.

Pick Rate

Approvals leading to origination
89.58%

Americu Credit Union has an average pick rate.

Points and Fees

Points Originations Total Value Average Loan
NA 2,241 $310,645,000 $138,619

Occupancy Type Mix

Dwelling Type Originations Total Value Average Loan
2,241 $310,645,000 $138,619

LTV Distribution

Loan to Value Originations Total Value Average Loan Average Fees Average Rate
20-40% 354 $23,400,000 $66,102 $1,201 3.69%
40-60% 258 $28,210,000 $109,341 $1,703 2.98%
60-80% 468 $78,500,000 $167,735 $2,861 3.05%
80-100% 931 $166,325,000 $178,652 $3,565 3.48%
Over 100% 26 $6,880,000 $264,615 $5,614 3.38%
Under 20% 204 $7,330,000 $35,931 $725 4.24%

Complaints

Bank Name Product Issue 2021 CPFB Complaints % of Total Issues
AMERICA FIRST FEDERAL CREDIT UNION Other type of mortgage Struggling to pay mortgage 1 33.3%
AMERICA FIRST FEDERAL CREDIT UNION Home equity loan or line of credit (HELOC) Incorrect information on your report 1 33.3%
AMERICA FIRST FEDERAL CREDIT UNION Home equity loan or line of credit (HELOC) Struggling to pay mortgage 1 33.3%