Americu Credit Union Mortgage Rates, Fees & Info
Rome, NYLEI: 5493002C1SVHOFTWF108
Tax ID: 15-0542361
2021 Data | 2020 Data | 2019 Data | 2018 Data
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Mortgage 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
2,241Origination Dollar Volume (All Markets)
$310,645,000Awards
AMERICU Credit Union - 2021
AMERICU Credit Union is a 2021 , due to their low .
For 2021, less than of lenders were eligible for this award.
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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 applications78.70%
Americu Credit Union has a below average approval rate.
Pick Rate
Approvals leading to origination89.58%
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% |
