1st Advantage Federal Credit Union Mortgage Rates, Fees & Info
Yorktown, VALEI: 5493003KBJMVUE7RQO90
Tax ID: 54-0623618
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Mortgage Data
Review & Overview
1st Advantage Federal Credit Union is a smaller credit union specializing in Home Purchase and Refi loans. 1st Advantage Federal Credit Union has a high proportion of conventional loans. Their top markets by origination volume include: Virginia Beach, Washington, Augusta, and Richmond among others. We have data for 5 markets. (Some data included below & more in-depth data is available with an active subscription.)1st Advantage Federal Credit Union has a below average approval rate when compared to the average across all lenders. They have an above average pick rate when compared to similar lenders. 1st Advantage Federal 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.
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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| Home Equity Line of Credit (HELOC) | 4.84% | 11/17/24 |
| 30 Year Conventional Purchase | 5.81% | 11/17/24 |
| 30 Year Conventional Refi | 5.31% | 11/17/24 |
| 30 Year Cash-out Refi | 6.30% | 11/17/24 |
| 15 Year Conventional Purchase | 9.59% | 11/17/24 |
| 15 Year Conventional Refi | 6.45% | 11/17/24 |
| 15 Year Cash-out Refi | 6.45% | 11/17/24 |
| 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. | ||
1st Advantage Federal Credit Union Mortgage Calculator
Your Estimates
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This is not an official calculator from 1st Advantage Federal Credit Union. It uses our SimulatedRate™
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
24Origination Dollar Volume (All Markets)
$2,640,000Top 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 |
|---|---|---|---|---|---|
| VIRGINIA BEACH-NORFOLK-NEWPORT NEWS, VA-NC (FHA|USDA|VA) | 17 | $1,805,000 | $106,176 | $4,968 | 6.63% |
| Washington-Arlington-Alexandria, DC-VA-MD-WV (FHA|USDA|VA) | 1 | $315,000 | $315,000 | $5,227 | 3.99% |
| AUGUSTA-RICHMOND COUNTY, GA-SC (FHA|USDA|VA) | 1 | $245,000 | $245,000 | $5,053 | 4.13% |
| RICHMOND, VA (FHA|USDA|VA) | 4 | $210,000 | $52,500 | $0 | 5.94% |
| Outside of Metro Areas | 1 | $65,000 | $65,000 | $0 | 6.00% |
Similar Lenders
We use machine learning to identify the top lenders compared against 1ST ADVANTAGE FEDERAL CREDIT UNION based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.
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Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 23 | $2,585,000 | $112,391 | $5,037 | 6.34% |
| HELOC | 1 | $55,000 | $55,000 | n/a | 4.75% |
For 2018, 1st Advantage Federal Credit Union's most frequently originated type of loan was Conventional, with 23 originations. Their 2nd most popular type was HELOC, with 1 originations.
Loan Reason
For 2018, 1st Advantage Federal Credit Union's most frequently cited loan purpose was Home Purchase, with 8 originations. The 2nd most popular reason was Other, with 6 originations.
Loan Duration/Length
For 2018, 1st Advantage Federal Credit Union's most frequently cited loan duration was 15 Year, with 7 originations. The 2nd most popular length was 30 Year, with 7 originations.
Origination Fees/Closing Costs
| Origination Fee/Closing Cost | Originations | Total Value | Average Loan |
|---|---|---|---|
| $2k-3k | 2 | $640,000 | $320,000 |
| $3k-4k | 2 | $740,000 | $370,000 |
| $1k-2k | 1 | $295,000 | $295,000 |
1st Advantage Federal Credit Union's average total fees were $4,990, while their most frequently occuring range of origination fees (closing costs) were in the $2k-3k bucket, with 2 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 5-6% | 9 | $845,000 | $93,889 |
| 4-5% | 4 | $630,000 | $157,500 |
| Over 8% | 4 | $130,000 | $32,500 |
| 7-8% | 3 | $195,000 | $65,000 |
| 3-4% | 2 | $740,000 | $370,000 |
| 6-7% | 2 | $100,000 | $50,000 |
During 2018, 1st Advantage Federal Credit Union's average interest rate for loans was 5.29%, while their most frequently originated rate bucket for loans was 5-6%, with 9 originations.
Loan Sizing
2018 saw 1st Advantage Federal Credit Union place emphasis on $100,000 or less loans with 19 originations, totaling $965,000 in origination value.
Applicant Income
1st Advantage Federal Credit Union lent most frequently to those with incomes in the $100k-150k range, with 10 originations. The second most popular income band? $50k-75k, with 4 originations.
Applicant Debt to Income Ratio
1st Advantage Federal Credit Union lent most frequently to those with DTI ratios of 30-36%, with 8 originations. The next most common DTI ratio? >60%, with 4 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications43.86%
1st Advantage Federal Credit Union has a low approval rate. They may have poor market targeting or stringent lending standards.
Pick Rate
Approvals leading to origination95.83%
1st Advantage Federal 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 | 24 | $2,640,000 | $110,000 |
Occupancy Type Mix
| Dwelling Type | Originations | Total Value | Average Loan |
|---|---|---|---|
| Single Family (1-4 Units):Site-Built | 24 | $2,640,000 | $110,000 |
LTV Distribution
Complaints
| Bank Name | Product | Issue | 2018 CPFB Complaints | % of Total Issues |
|---|---|---|---|---|
| Statebridge Company | Conventional home mortgage | Closing on a mortgage | 2 | 3.2% |
| Statebridge Company | Conventional home mortgage | Struggling to pay mortgage | 9 | 14.5% |
| Statebridge Company | Conventional home mortgage | Trouble during payment process | 38 | 61.3% |
| Statebridge Company | FHA mortgage | Incorrect information on your report | 1 | 1.6% |
| Statebridge Company | FHA mortgage | Trouble during payment process | 6 | 9.7% |
| Statebridge Company | Other type of mortgage | Trouble during payment process | 4 | 6.5% |
| Statebridge Company | VA mortgage | Trouble during payment process | 2 | 3.2% |