Alltru Federal Credit Union Mortgage Rates, Fees & Info

Wentzville, MO

LEI: 5493003TK1BAOHHL6S92

Tax ID: 43-6079380

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

Review & Overview

Alltru Federal Credit Union is a smaller credit union specializing in Home Purchase and Cash Out Refi loans. Alltru Federal Credit Union has a high proportion of conventional loans. Their top two markets are St. Louis and Farmington .

Alltru Federal 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. Alltru Federal 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
30 Year Conventional Purchase	7.18%	4/28/24
30 Year Conventional Refi	6.69%	4/28/24
30 Year Cash-out Refi	6.97%	4/28/24
30 Year VA Purchase	6.03%	4/28/24
15 Year Conventional Purchase	6.28%	4/28/24
15 Year Conventional Refi	7.18%	4/28/24
15 Year Cash-out Refi	7.18%	4/28/24
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.

Alltru Federal Credit Union Mortgage Calculator

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This is not an official calculator from Alltru Federal 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

128

Origination Dollar Volume (All Markets)

$10,690,000

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
ST. LOUIS, MO-IL (FHA\|USDA\|VA)	122	$10,100,000	$82,787	$1,265	5.39%
Outside of Metro Areas	5	$555,000	$111,000	$1,616	5.72%
Farmington, MO (FHA\|USDA\|VA)	1	$35,000	$35,000	$0	7.00%

Alltru Federal Credit Union's top markets include St. Louis and Farmington among others.

Their top states include:

Missouri (FHA|USDA|VA)

Illinois (FHA|USDA|VA)

Similar Lenders

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

WEST COMMUNITY
Similarity Rank: 190

United Bank of Union
Similarity Rank: 275

D.W. BROWN MORTGAGE CORP.
Similarity Rank: 302

ELECTRO SAVINGS CREDIT UNION
Similarity Rank: 396

Dieterich Bank
Similarity Rank: 442

CapGrow Home Mortgage, LLC
Similarity Rank: 450

Ozarks Federal Savings and Loan Association
Similarity Rank: 490

ALLTRU Federal Credit Union
Similarity Rank: 780

JERSEY STATE BANK
Similarity Rank: 792

First Mid Bank & Trust
Similarity Rank: 1020

Product Mix

Loan Type	Originations	Total Value	Avg. Loan	Avg. Fees	Avg. Rate
Conventional	126	$10,160,000	$80,635	$1,202	5.45%
VA	2	$530,000	$265,000	$5,424	3.63%

For 2019, Alltru Federal Credit Union's most frequently originated type of loan was Conventional, with 126 originations. Their 2nd most popular type was VA, with 2 originations.

Loan Reason

Loan Reason	Originations	Total Value	Avg. Loan	Avg. Fees	Avg. Rate
Other	52	$1,960,000	$37,692	$4	6.33%
Home Improvement	27	$735,000	$27,222	$0	5.72%
Home Purchase	20	$3,870,000	$193,500	$3,186	4.39%
Cash Out Refi	17	$2,985,000	$175,588	$4,097	4.15%
Refi	12	$1,140,000	$95,000	$2,297	4.28%

For 2019, Alltru Federal Credit Union's most frequently cited loan purpose was Other, with 52 originations. The 2nd most popular reason was Home Improvement, with 27 originations.

Loan Duration/Length

Loan Length	Originations	Total Value	Average Loan	Average Fees	Average Rate
15 Year	47	$3,115,000	$66,277	$929	5.69%
Other	37	$1,205,000	$32,568	$66	6.00%
30 Year	30	$5,740,000	$191,333	$3,564	4.41%
5 Year	7	$125,000	$17,857	$0	4.63%
10 Year	5	$255,000	$51,000	$569	6.18%
20 Year	2	$250,000	$125,000	$2,668	4.19%

For 2019, Alltru Federal Credit Union's most frequently cited loan duration was 15 Year, with 47 originations. The 2nd most popular length was Other, with 37 originations.

Origination Fees/Closing Costs

Origination Fee/Closing Cost	Originations	Total Value	Average Loan
$<1k	104	$6,870,000	$66,058
$1k-2k	12	$1,590,000	$132,500
$2k-3k	6	$880,000	$146,667
$5k+	3	$935,000	$311,667
$3k-4k	1	$205,000	$205,000
$4k-5k	1	$185,000	$185,000

Alltru Federal Credit Union's average total fees were $3,564, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 104 originations.

Interest Rates

Loan Rate	Originations	Total Value	Average Loan
4-5%	51	$3,565,000	$69,902
5-6%	28	$2,250,000	$80,357
3-4%	23	$3,905,000	$169,783
6-7%	12	$380,000	$31,667
Over 8%	12	$280,000	$23,333
2.5-3%	1	$285,000	$285,000
7-8%	1	$25,000	$25,000

During 2019, Alltru Federal Credit Union's average interest rate for loans was 4.41%, while their most frequently originated rate bucket for loans was 4-5%, with 51 originations.

Loan Sizing

Loan Size	Originations	Total Value	Average Loan	Average Fees	Average Rate
$100,000 or less	89	$3,205,000	$36,011	$265	5.90%
$100k-200k	26	$3,760,000	$144,615	$2,805	4.35%
$200k-400k	11	$2,815,000	$255,909	$4,585	4.17%
$400k-600k	2	$910,000	$455,000	$7,233	4.63%

2019 saw Alltru Federal Credit Union place emphasis on $100,000 or less loans with 89 originations, totaling $3,205,000 in origination value.

Applicant Income

Applicant Income	Originations	Total Value	Average Loan	Average Fees	Average Rate
$50k-75k	36	$3,090,000	$85,833	$1,521	5.53%
$100k-150k	34	$3,310,000	$97,353	$1,773	5.13%
$75k-100k	23	$1,785,000	$77,609	$1,241	5.18%
$150k-250k	17	$1,595,000	$93,824	$296	5.38%
$50k or less	17	$815,000	$47,941	$842	6.08%

Alltru Federal Credit Union lent most frequently to those with incomes in the $50k-75k range, with 36 originations. The second most popular income band? $100k-150k, with 34 originations.

Applicant Debt to Income Ratio

DTI Ratio	Originations	Total Value	Average Loan	Average Fees	Average Rate
20-30%	37	$3,185,000	$86,081	$781	5.18%
30-36%	33	$2,495,000	$75,606	$1,382	5.77%
<20%	8	$500,000	$62,500	$636	5.51%
38%	5	$835,000	$167,000	$4,200	3.88%
42%	5	$595,000	$119,000	$2,196	4.68%
49%	5	$895,000	$179,000	$2,272	5.00%
36%	5	$215,000	$43,000	$494	5.45%
37%	5	$385,000	$77,000	$1,641	6.53%
50-60%	4	$280,000	$70,000	$526	8.00%
44%	3	$375,000	$125,000	$2,812	4.54%
40%	3	$185,000	$61,667	$1,077	4.33%
39%	3	$55,000	$18,333	$0	5.33%
45%	3	$145,000	$48,333	$1,205	6.04%
43%	3	$225,000	$75,000	$865	7.08%
46%	2	$140,000	$70,000	$2,689	4.13%
41%	2	$140,000	$70,000	$1,476	4.19%
48%	2	$40,000	$20,000	$0	4.50%

Alltru Federal Credit Union lent most frequently to those with DTI ratios of 20-30%, with 37 originations. The next most common DTI ratio? 30-36%, with 33 originations.

Ethnicity Mix

Applicant Ethnicity	Originations	Total Value	Average Loan	Average Fees	Average Rate
White	94	$8,260,000	$87,872	$1,295	5.30%
Not provided	19	$1,415,000	$74,474	$1,224	5.83%
Black	11	$655,000	$59,545	$867	6.00%
Asian	3	$325,000	$108,333	$2,611	4.00%
American Indian	1	$35,000	$35,000	$0	7.00%

Approval Rates

Total approvals of all applications
84.48%

Alltru Federal Credit Union has a below average approval rate.

Pick Rate

Approvals leading to origination
56.25%

Alltru Federal Credit Union has a low pick rate. They may have issues with closing loans or may approve everyone, but with onerous loan terms.

Points and Fees

Points	Originations	Total Value	Average Loan
NA	128	$10,690,000	$83,516

Occupancy Type Mix

Dwelling Type	Originations	Total Value	Average Loan
Single Family (1-4 Units):Site-Built	128	$10,690,000	$83,516

LTV Distribution

Loan to Value	Originations	Total Value	Average Loan	Average Fees	Average Rate
20-40%	18	$1,060,000	$58,889	$158	5.88%
40-60%	4	$320,000	$80,000	$1,834	4.31%
60-80%	21	$3,575,000	$170,238	$3,791	4.15%
80-100%	21	$3,735,000	$177,857	$2,871	4.40%
Over 100%	1	$355,000	$355,000	$10,848	3.75%
Under 20%	63	$1,645,000	$26,111	$3	6.14%

Complaints

Bank Name	Product	Issue	2019 CPFB Complaints	% of Total Issues
Aldridge Pite, LLP	Conventional home mortgage	Struggling to pay mortgage	4	80.0%
Aldridge Pite, LLP	Other type of mortgage	Struggling to pay mortgage	1	20.0%