Americu Credit Union Mortgage Rates, Fees & Info

Rome, NY

LEI: 5493002C1SVHOFTWF108

Tax ID: 15-0542361

5 stars - out of 5 stars, based on 49 reviews

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

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Mortgage Data

  • SimulatedRates™
  • Originations
  • Relative Rates
  • Relative Fees
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • Complaints
  • Mortgage Calculator
  • 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

    Americu Credit Union is a smaller credit union specializing in 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 Ogdensburg among others. We have data for 23 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 an above average pick rate when compared to similar lenders. Americu Credit Union is typically a low 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.

    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% 4/1/23
    30 Year Conventional Purchase 6.63% 4/1/23
    30 Year Conventional Refi 6.07% 4/1/23
    30 Year Cash-out Refi 6.60% 4/1/23
    30 Year FHA Purchase 6.90% 4/1/23
    15 Year Conventional Purchase 5.82% 4/1/23
    15 Year Conventional Refi 5.73% 4/1/23
    15 Year Cash-out Refi 5.73% 4/1/23
    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

    2,366

    Origination Dollar Volume (All Markets)

    $313,010,000

    Awards

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

    Relative Rate

    Americu Credit Union's average 30 year fixed mortgage rate was 4.7%.

    The 2022 average 30 year fixed rate mortgage across all markets and lenders was 4.76%.

    This yields a difference of -0.06%.

    Relative Fees (Closing Costs)

    Americu Credit Union's average total fees/closing costs for a 30 year fixed rate mortgage were $4,225.

    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 $4,750.

    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) 1,040 $130,340,000 $125,327 $2,186 4.07%
    UTICA-ROME, NY (FHA|USDA|VA) 766 $96,280,000 $125,692 $2,438 4.14%
    WATERTOWN-FORT DRUM, NY (FHA|USDA|VA) 249 $47,025,000 $188,855 $3,216 4.37%
    Auburn, NY (FHA|USDA|VA) 139 $12,775,000 $91,906 $1,909 3.99%
    Outside of Metro Areas 60 $7,620,000 $127,000 $3,108 4.33%
    Ogdensburg-Massena, NY (FHA|USDA|VA) 24 $3,840,000 $160,000 $3,145 4.56%
    BINGHAMTON, NY (FHA|USDA|VA) 8 $2,740,000 $342,500 $4,673 4.57%
    ROCHESTER, NY (FHA|USDA|VA) 12 $2,510,000 $209,167 $3,091 4.41%
    Cortland, NY (FHA|USDA|VA) 24 $2,060,000 $85,833 $2,831 3.86%
    ITHACA, NY (FHA|USDA|VA) 8 $1,270,000 $158,750 $3,619 4.64%
    Jamestown-Dunkirk-Fredonia, NY (FHA|USDA|VA) 1 $945,000 $945,000 $0 4.15%
    Amsterdam, NY (FHA|USDA|VA) 5 $935,000 $187,000 $6,274 3.70%
    Oneonta, NY (FHA|USDA|VA) 5 $915,000 $183,000 $4,361 4.38%
    ALBANY-SCHENECTADY-TROY, NY (FHA|USDA|VA) 6 $870,000 $145,000 $1,959 5.56%
    Seneca Falls, NY (FHA|USDA|VA) 3 $625,000 $208,333 $1,783 4.83%
    BUFFALO-CHEEKTOWAGA, NY (FHA|USDA|VA) 5 $615,000 $123,000 $5,254 3.95%
    Malone, NY (FHA|USDA|VA) 3 $515,000 $171,667 $2,262 3.83%
    GLENS FALLS, NY (FHA|USDA|VA) 2 $350,000 $175,000 $5,800 6.31%
    Gloversville, NY (FHA|USDA|VA) 2 $270,000 $135,000 $1,927 4.75%
    ELMIRA, NY (FHA|USDA|VA) 1 $185,000 $185,000 $9,022 3.13%
    New York-Newark-Jersey City, NY-NJ-PA (FHA|USDA|VA) 1 $155,000 $155,000 $0 1.99%
    Corning, NY (FHA|USDA|VA) 1 $125,000 $125,000 $3,013 5.25%
    Olean, NY (FHA|USDA|VA) 1 $45,000 $45,000 $462 4.00%
    Americu Credit Union's top markets include Syracuse, Utica, Watertown, Auburn, and Ogdensburg 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: 8
    SECNY Federal Credit Union
    Similarity Rank: 38
    CFCU Community Credit Union
    Similarity Rank: 60
    Gouverneur Savings and Loan Association
    Similarity Rank: 63
    Elmira Savings Bank
    Similarity Rank: 77
    Geddes Federal Savings and Loan Association
    Similarity Rank: 216
    THE SUMMIT Federal Credit Union
    Similarity Rank: 266
    VISIONS
    Similarity Rank: 308
    Adirondack Bank
    Similarity Rank: 336
    FIRST SOURCE
    Similarity Rank: 350

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 1,823 $267,705,000 $146,849 $2,433 4.48%
    HELOC 527 $43,245,000 $82,059 n/a 2.94%
    FHA 16 $2,060,000 $128,750 $6,395 5.53%

    For 2022, Americu Credit Union's most frequently originated type of loan was Conventional, with 1,823 originations. Their 2nd most popular type was HELOC, with 527 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 820 $149,880,000 $182,780 $3,931 4.66%
    Home Improvement 694 $59,880,000 $86,282 $1,516 3.66%
    Other 402 $28,480,000 $70,846 $556 4.12%
    Refi 321 $37,645,000 $117,274 $1,229 3.89%
    Cash Out Refi 129 $37,125,000 $287,791 $3,719 4.10%

    For 2022, Americu Credit Union's most frequently cited loan purpose was Home Purchase, with 820 originations. The 2nd most popular reason was Home Improvement, with 694 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 795 $147,145,000 $185,088 $4,225 4.70%
    Other 544 $44,480,000 $81,765 $1,222 2.96%
    10 Year 416 $65,430,000 $157,284 $598 4.22%
    15 Year 308 $32,270,000 $104,773 $1,366 4.34%
    20 Year 190 $18,990,000 $99,947 $1,138 4.99%
    5 Year 112 $4,660,000 $41,607 $506 3.66%
    3 Year 1 $35,000 $35,000 $462 3.25%

    For 2022, Americu Credit Union's most frequently cited loan duration was 30 Year, with 795 originations. The 2nd most popular length was Other, with 544 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 1,139 $110,525,000 $97,037
    $1k-2k 347 $57,335,000 $165,231
    $2k-3k 131 $26,655,000 $203,473
    $3k-4k 58 $13,820,000 $238,276
    $4k-5k 25 $6,185,000 $247,400
    $5k+ 21 $7,195,000 $342,619

    Americu Credit Union's average total fees were $4,225, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 1,139 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    3-4% 697 $83,335,000 $119,562
    4-5% 638 $110,970,000 $173,934
    5-6% 458 $66,910,000 $146,092
    <2.5% 357 $32,085,000 $89,874
    2.5-3% 102 $9,960,000 $97,647
    6-7% 89 $8,335,000 $93,652
    7-8% 20 $1,140,000 $57,000
    Over 8% 5 $275,000 $55,000

    During 2022, Americu Credit Union's average interest rate for loans was 4.70%, while their most frequently originated rate bucket for loans was 3-4%, with 697 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 1,187 $64,805,000 $54,596 $1,019 3.96%
    $100k-200k 790 $111,530,000 $141,177 $3,055 4.27%
    $200k-400k 326 $85,610,000 $262,607 $4,749 4.45%
    $400k-600k 41 $18,785,000 $458,171 $6,494 4.27%
    $600k-1MM 12 $8,490,000 $707,500 $9,840 4.78%
    $1MM+ 10 $23,790,000 $2,379,000 $4,681 4.34%

    2022 saw Americu Credit Union place emphasis on $100,000 or less loans with 1,187 originations, totaling $64,805,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 552 $56,320,000 $102,029 $2,414 4.08%
    $100k-150k 545 $73,885,000 $135,569 $2,631 4.12%
    $75k-100k 481 $54,705,000 $113,732 $2,420 4.07%
    $50k or less 308 $26,860,000 $87,208 $2,541 4.34%
    $150k-250k 297 $41,595,000 $140,051 $2,438 3.93%
    $250k+ 53 $10,895,000 $205,566 $2,360 3.94%

    Americu Credit Union lent most frequently to those with incomes in the $50k-75k range, with 552 originations. The second most popular income band? $100k-150k, with 545 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 538 $60,330,000 $112,138 $2,527 3.93%
    30-36% 462 $55,530,000 $120,195 $2,529 4.10%
    <20% 174 $16,560,000 $95,172 $1,840 3.53%
    42% 116 $14,190,000 $122,328 $2,408 4.36%
    40% 111 $12,665,000 $114,099 $2,496 4.34%
    38% 111 $14,815,000 $133,468 $2,621 4.28%
    39% 101 $11,105,000 $109,950 $2,137 4.19%
    41% 94 $12,890,000 $137,128 $2,494 4.35%
    43% 94 $11,560,000 $122,979 $2,684 4.20%
    37% 93 $11,405,000 $122,634 $2,619 4.27%
    36% 73 $10,335,000 $141,575 $2,635 4.38%
    44% 69 $9,375,000 $135,870 $2,736 4.36%
    45% 46 $5,570,000 $121,087 $2,242 4.28%
    46% 41 $3,725,000 $90,854 $1,967 4.51%
    48% 34 $4,470,000 $131,471 $2,905 4.28%
    49% 33 $4,535,000 $137,424 $3,085 3.59%
    47% 27 $2,425,000 $89,815 $1,735 3.83%
    50-60% 26 $3,630,000 $139,615 $3,729 4.66%
    >60% 10 $970,000 $97,000 $462 4.17%

    Americu Credit Union lent most frequently to those with DTI ratios of 20-30%, with 538 originations. The next most common DTI ratio? 30-36%, with 462 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 2,094 $246,990,000 $117,951 $2,466 4.10%
    Not applicable 112 $47,070,000 $420,268 $0 4.86%
    Black 59 $6,995,000 $118,559 $3,031 4.14%
    Asian 40 $6,490,000 $162,250 $3,445 4.52%
    Not provided 50 $4,280,000 $85,600 $1,061 4.02%
    American Indian 8 $900,000 $112,500 $1,268 3.51%
    Native Hawaiian or Islander 3 $285,000 $95,000 $1,984 4.43%

    Approval Rates

    Total approvals of all applications
    81.15%

    Americu Credit Union has a below average approval rate.

    Pick Rate

    Approvals leading to origination
    96.03%

    Americu Credit Union has an exceptionally high pick rate. They most likely have borrower friendly terms or other characteristics like being fast to close or are easy to work with.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 2,366 $313,010,000 $132,295

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    2,366 $313,010,000 $132,295

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 565 $38,665,000 $68,434 $648 3.94%
    40-60% 273 $31,745,000 $116,282 $1,564 3.85%
    60-80% 389 $83,815,000 $215,463 $2,974 4.19%
    80-100% 731 $142,795,000 $195,342 $4,137 4.66%
    Under 20% 408 $15,990,000 $39,191 $520 3.65%

    Complaints

    Bank Name Product Issue 2022 CPFB Complaints % of Total Issues
    AMERISAVE MORTGAGE CORPORATION Conventional home mortgage Trouble during payment process 1 33.3%
    AMERISAVE MORTGAGE CORPORATION Conventional home mortgage Applying for a mortgage or refinancing an existing mortgage 2 66.7%