Altana Federal Credit Union Mortgage Rates, Fees & Info

Billings, MT

LEI: 54930043A47GB1KNJQ31

Tax ID: 81-0231683

5 stars - Updated: 4/21/24

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

Review & Overview

Altana Federal Credit Union is a smaller credit union specializing in Other, Refi, and Cash Out Refi loans. Altana Federal Credit Union has a high proportion of conventional loans. Their top two markets are Billings and Missoula .

Altana 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. Altana 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.

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	7.29%	4/21/24
30 Year Conventional Refi	7.84%	4/21/24
30 Year Cash-out Refi	7.50%	4/21/24
30 Year FHA Purchase	6.27%	4/21/24
30 Year VA Purchase	6.90%	4/21/24
30 Year USDA Purchase	6.27%	4/21/24
15 Year Conventional Purchase	7.85%	4/21/24
15 Year Conventional Refi	8.62%	4/21/24
15 Year Cash-out Refi	8.62%	4/21/24
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.

Altana Federal Credit Union Mortgage Calculator

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The default purchase price is the median sales price across the US for 2022Q4, per FRED.

Originations

118

Origination Dollar Volume (All Markets)

$14,210,000

Relative Rate

Altana Federal Credit Union's average 30 year fixed mortgage rate was 6.56%.

The 2023 average 30 year fixed rate mortgage across all markets and lenders was 6.48%.

This yields a difference of 0.08%.

Relative Fees (Closing Costs)

Altana Federal Credit Union's average total fees/closing costs for a 30 year fixed rate mortgage were $5,193.

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 $9,089.

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
BILLINGS, MT (FHA\|USDA\|VA)	104	$12,960,000	$124,615	$1,435	7.21%
Outside of Metro Areas	13	$815,000	$62,692	$1,076	7.39%
MISSOULA, MT (FHA\|USDA\|VA)	1	$435,000	$435,000	$0	7.25%

Altana Federal Credit Union's top markets include Billings and Missoula among others.

Their top states include:

Montana (FHA|USDA|VA)

Wyoming (FHA|USDA|VA)

Similar Lenders

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

BILLINGS
Similarity Rank: 21

The Yellowstone Bank
Similarity Rank: 52

Stockman Bank of Montana
Similarity Rank: 408

American Bank Center
Similarity Rank: 435

Opportunity Bank of Montana
Similarity Rank: 551

First Interstate Bank
Similarity Rank: 2052

UNIVERSAL LENDING CORPORATION
Similarity Rank: 2394

Glacier Bank
Similarity Rank: 3192

Servion, Inc.
Similarity Rank: 3568

Century Mortgage Company DBA Century Lending Company
Similarity Rank: 4420

Product Mix

Loan Type	Originations	Total Value	Avg. Loan	Avg. Fees	Avg. Rate
Conventional	118	$14,210,000	$120,424	$1,394	7.23%

For 2023, Altana Federal Credit Union's most frequently originated type of loan was Conventional, with 118 originations.

Loan Reason

Loan Reason	Originations	Total Value	Avg. Loan	Avg. Fees	Avg. Rate
Other	56	$4,290,000	$76,607	$702	7.28%
Home Improvement	17	$905,000	$53,235	$755	7.29%
Refi	17	$3,335,000	$196,176	$2,528	7.07%
Cash Out Refi	15	$2,965,000	$197,667	$2,198	6.71%
Home Purchase	13	$2,715,000	$208,846	$3,741	7.77%

For 2023, Altana Federal Credit Union's most frequently cited loan purpose was Other, with 56 originations. The 2nd most popular reason was Home Improvement, with 17 originations.

Loan Duration/Length

Loan Length	Originations	Total Value	Average Loan	Average Fees	Average Rate
10 Year	49	$3,475,000	$70,918	$710	7.46%
15 Year	23	$2,765,000	$120,217	$918	7.70%
5 Year	20	$2,400,000	$120,000	$1,088	6.47%
Other	13	$1,635,000	$125,769	$1,534	7.33%
30 Year	10	$3,000,000	$300,000	$5,193	6.56%
20 Year	2	$890,000	$445,000	$7,538	6.94%
3 Year	1	$45,000	$45,000	$1,752	6.50%

For 2023, Altana Federal Credit Union's most frequently cited loan duration was 10 Year, with 49 originations. The 2nd most popular length was 15 Year, with 23 originations.

Origination Fees/Closing Costs

Origination Fee/Closing Cost	Originations	Total Value	Average Loan
$<1k	89	$7,345,000	$82,528
$1k-2k	7	$1,485,000	$212,143
$2k-3k	3	$845,000	$281,667
$3k-4k	3	$775,000	$258,333
$4k-5k	2	$800,000	$400,000
$5k+	1	$505,000	$505,000

Altana Federal Credit Union's average total fees were $5,193, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 89 originations.

Interest Rates

Loan Rate	Originations	Total Value	Average Loan
6-7%	46	$6,610,000	$143,696
7-8%	30	$3,460,000	$115,333
Over 8%	23	$1,885,000	$81,957
5-6%	19	$2,255,000	$118,684

During 2023, Altana Federal Credit Union's average interest rate for loans was 6.56%, while their most frequently originated rate bucket for loans was 6-7%, with 46 originations.

Loan Sizing

Loan Size	Originations	Total Value	Average Loan	Average Fees	Average Rate
$100,000 or less	71	$3,655,000	$51,479	$756	7.36%
$100k-200k	26	$3,480,000	$133,846	$1,119	7.15%
$200k-400k	14	$3,830,000	$273,571	$4,482	7.04%
$400k-600k	7	$3,245,000	$463,571	$5,306	6.60%

2023 saw Altana Federal Credit Union place emphasis on $100,000 or less loans with 71 originations, totaling $3,655,000 in origination value.

Applicant Income

Applicant Income	Originations	Total Value	Average Loan	Average Fees	Average Rate
$100k-150k	32	$3,820,000	$119,375	$1,552	7.37%
$150k-250k	24	$3,450,000	$143,750	$1,425	6.96%
$75k-100k	22	$1,770,000	$80,455	$1,028	6.82%
$50k-75k	19	$1,645,000	$86,579	$1,417	7.30%
$50k or less	10	$460,000	$46,000	$607	8.47%
$250k+	3	$865,000	$288,333	$4,490	7.50%

Altana Federal Credit Union lent most frequently to those with incomes in the $100k-150k range, with 32 originations. The second most popular income band? $150k-250k, with 24 originations.

Applicant Debt to Income Ratio

DTI Ratio	Originations	Total Value	Average Loan	Average Fees	Average Rate
20-30%	27	$2,035,000	$75,370	$966	7.26%
30-36%	26	$3,620,000	$139,231	$1,839	7.05%
50-60%	7	$905,000	$129,286	$1,552	7.73%
36%	6	$540,000	$90,000	$1,281	7.19%
<20%	6	$710,000	$118,333	$1,687	6.54%
>60%	5	$685,000	$137,000	$1,006	7.61%
38%	4	$330,000	$82,500	$696	7.75%
44%	4	$420,000	$105,000	$1,886	6.91%
39%	4	$380,000	$95,000	$759	7.00%
42%	4	$620,000	$155,000	$1,113	7.87%
37%	3	$425,000	$141,667	$1,619	8.04%
40%	3	$355,000	$118,333	$2,762	7.54%
47%	3	$175,000	$58,333	$765	7.58%
46%	2	$180,000	$90,000	$715	6.38%
43%	2	$290,000	$145,000	$3,652	7.63%
41%	1	$205,000	$205,000	$640	7.25%
48%	1	$75,000	$75,000	$640	9.25%
49%	1	$45,000	$45,000	$765	7.25%
45%	1	$15,000	$15,000	$740	5.75%

Altana Federal Credit Union lent most frequently to those with DTI ratios of 20-30%, with 27 originations. The next most common DTI ratio? 30-36%, with 26 originations.

Ethnicity Mix

Applicant Ethnicity	Originations	Total Value	Average Loan	Average Fees	Average Rate
White	104	$11,490,000	$110,481	$1,383	7.25%
Not applicable	7	$2,095,000	$299,286	$0	6.67%
Not provided	6	$550,000	$91,667	$1,695	7.46%
Black	1	$75,000	$75,000	$715	8.00%

Approval Rates

Total approvals of all applications
76.11%

Altana Federal Credit Union has a below average approval rate.

Pick Rate

Approvals leading to origination
83.90%

Altana Federal Credit Union has a below average pick rate.

Points and Fees

Points	Originations	Total Value	Average Loan
NA	118	$14,210,000	$120,424

Occupancy Type Mix

Dwelling Type	Originations	Total Value	Average Loan
	118	$14,210,000	$120,424

LTV Distribution

Loan to Value	Originations	Total Value	Average Loan	Average Fees	Average Rate
20-40%	28	$3,110,000	$111,071	$871	7.31%
40-60%	10	$2,260,000	$226,000	$3,272	7.55%
60-80%	19	$4,215,000	$221,842	$3,065	7.02%
80-100%	7	$1,625,000	$232,143	$4,178	7.53%
Under 20%	54	$3,000,000	$55,556	$704	7.17%