Altana Federal Credit Union Mortgage Rates, Fees & Info

Billings, MT

LEI: 54930043A47GB1KNJQ31

Tax ID: 81-0231683

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 Refi and Cash Out Refi loans. Altana Federal Credit Union has a high proportion of conventional loans. Their top markets by origination volume include: Billings, Helena, and Bozeman among others. We have data for 4 markets. (Some data included below & more in-depth data is available with an active subscription.)

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 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.

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SimulatedRates™ Mortgage Type	Simulated Rate	Simulation Date
30 Year Conventional Purchase	7.29%	5/4/24
30 Year Conventional Refi	7.84%	5/4/24
30 Year Cash-out Refi	7.50%	5/4/24
30 Year FHA Purchase	6.27%	5/4/24
30 Year VA Purchase	6.90%	5/4/24
30 Year USDA Purchase	6.27%	5/4/24
15 Year Conventional Purchase	7.85%	5/4/24
15 Year Conventional Refi	8.62%	5/4/24
15 Year Cash-out Refi	8.62%	5/4/24
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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This is not an official calculator from Altana 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

279

Origination Dollar Volume (All Markets)

$56,615,000

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
BILLINGS, MT (FHA\|USDA\|VA)	268	$53,620,000	$200,075	$3,544	3.44%
Outside of Metro Areas	9	$2,275,000	$252,778	$2,266	3.40%
Helena, MT (FHA\|USDA\|VA)	1	$415,000	$415,000	$4,040	2.59%
Bozeman, MT (FHA\|USDA\|VA)	1	$305,000	$305,000	$6,258	2.88%

Altana Federal Credit Union's top markets include Billings, Helena, and Bozeman among others.

Their top states include:

Montana (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.

VALLEY FINANCIAL CREDIT UNION
Similarity Rank: 144

Altana Federal Credit Union
Similarity Rank: 148

BILLINGS
Similarity Rank: 270

Stockman Bank of Montana
Similarity Rank: 1054

Opportunity Bank of Montana
Similarity Rank: 2072

VILLAGE CAPITAL MORTGAGE
Similarity Rank: 3930

MID AMERICA MORTGAGE, INC.
Similarity Rank: 4672

CLEARPATH LENDING
Similarity Rank: 4824

UNIVERSAL LENDING CORPORATION
Similarity Rank: 5092

MANN FINANCIAL INC.
Similarity Rank: 6664

Product Mix

Loan Type	Originations	Total Value	Avg. Loan	Avg. Fees	Avg. Rate
Conventional	279	$56,615,000	$202,921	$3,518	3.43%

For 2020, Altana Federal Credit Union's most frequently originated type of loan was Conventional, with 279 originations.

Loan Reason

Loan Reason	Originations	Total Value	Avg. Loan	Avg. Fees	Avg. Rate
Refi	121	$27,055,000	$223,595	$3,532	3.22%
Cash Out Refi	97	$18,315,000	$188,814	$3,293	3.21%
Home Purchase	48	$10,610,000	$221,042	$4,753	3.66%
Other	11	$575,000	$52,273	$609	5.93%
Home Improvement	2	$60,000	$30,000	$610	7.88%

For 2020, Altana Federal Credit Union's most frequently cited loan purpose was Refi, with 121 originations. The 2nd most popular reason was Cash Out Refi, with 97 originations.

Loan Duration/Length

Loan Length	Originations	Total Value	Average Loan	Average Fees	Average Rate
15 Year	106	$21,300,000	$200,943	$2,828	3.12%
30 Year	89	$21,295,000	$239,270	$5,147	3.19%
10 Year	47	$5,655,000	$120,319	$1,870	3.78%
Other	16	$4,170,000	$260,625	$4,005	4.75%
20 Year	10	$3,490,000	$349,000	$5,296	3.58%
5 Year	9	$565,000	$62,778	$662	4.78%
3 Year	2	$140,000	$70,000	$2,196	5.75%

For 2020, Altana Federal Credit Union's most frequently cited loan duration was 15 Year, with 106 originations. The 2nd most popular length was 30 Year, with 89 originations.

Origination Fees/Closing Costs

Origination Fee/Closing Cost	Originations	Total Value	Average Loan
$1k-2k	85	$17,155,000	$201,824
$<1k	78	$8,720,000	$111,795
$2k-3k	52	$10,930,000	$210,192
$3k-4k	39	$9,905,000	$253,974
$4k-5k	17	$6,125,000	$360,294
$5k+	5	$2,545,000	$509,000

Altana Federal Credit Union's average total fees were $5,147, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 85 originations.

Interest Rates

Loan Rate	Originations	Total Value	Average Loan
2.5-3%	157	$33,445,000	$213,025
3-4%	61	$14,725,000	$241,393
4-5%	23	$4,475,000	$194,565
<2.5%	9	$2,115,000	$235,000
5-6%	9	$825,000	$91,667
6-7%	9	$545,000	$60,556
Over 8%	6	$220,000	$36,667
7-8%	5	$265,000	$53,000

During 2020, Altana Federal Credit Union's average interest rate for loans was 3.19%, while their most frequently originated rate bucket for loans was 2.5-3%, with 157 originations.

Loan Sizing

Loan Size	Originations	Total Value	Average Loan	Average Fees	Average Rate
$200k-400k	114	$30,950,000	$271,491	$4,576	2.96%
$100k-200k	107	$16,335,000	$152,664	$3,098	3.20%
$100,000 or less	48	$2,820,000	$58,750	$1,069	5.12%
$400k-600k	6	$2,810,000	$468,333	$6,494	2.91%
$1MM+	2	$2,110,000	$1,055,000	$16,314	4.25%
$600k-1MM	2	$1,590,000	$795,000	$5,317	3.61%

2020 saw Altana Federal Credit Union place emphasis on $200k-400k loans with 114 originations, totaling $30,950,000 in origination value.

Applicant Income

Applicant Income	Originations	Total Value	Average Loan	Average Fees	Average Rate
$100k-150k	88	$19,480,000	$221,364	$3,715	3.34%
$75k-100k	73	$12,945,000	$177,329	$3,447	3.44%
$50k-75k	43	$6,885,000	$160,116	$3,346	3.35%
$150k-250k	35	$9,705,000	$277,286	$3,930	3.20%
$50k or less	28	$3,740,000	$133,571	$2,585	3.88%
$250k+	7	$2,535,000	$362,143	$5,459	2.84%

Altana Federal Credit Union lent most frequently to those with incomes in the $100k-150k range, with 88 originations. The second most popular income band? $75k-100k, with 73 originations.

Applicant Debt to Income Ratio

DTI Ratio	Originations	Total Value	Average Loan	Average Fees	Average Rate
20-30%	74	$14,040,000	$189,730	$3,531	3.35%
30-36%	60	$11,950,000	$199,167	$3,831	3.23%
<20%	41	$7,065,000	$172,317	$3,290	3.02%
39%	11	$1,685,000	$153,182	$2,614	3.97%
38%	10	$2,710,000	$271,000	$4,033	3.49%
36%	10	$1,850,000	$185,000	$3,405	3.33%
50-60%	9	$1,395,000	$155,000	$1,776	4.46%
37%	8	$1,770,000	$221,250	$3,209	3.07%
>60%	7	$2,245,000	$320,714	$3,791	3.05%
41%	7	$2,075,000	$296,429	$3,574	4.01%
42%	7	$1,415,000	$202,143	$3,853	3.88%
43%	7	$1,715,000	$245,000	$4,409	3.89%
44%	7	$2,045,000	$292,143	$5,104	3.72%
45%	6	$1,100,000	$183,333	$2,976	4.99%
40%	5	$975,000	$195,000	$3,949	3.97%
48%	2	$450,000	$225,000	$3,180	2.86%
47%	1	$185,000	$185,000	$3,436	4.38%

Altana Federal Credit Union lent most frequently to those with DTI ratios of 20-30%, with 74 originations. The next most common DTI ratio? 30-36%, with 60 originations.

Ethnicity Mix

Applicant Ethnicity	Originations	Total Value	Average Loan	Average Fees	Average Rate
White	276	$55,380,000	$200,652	$3,518	3.42%
Not applicable	3	$1,235,000	$411,667	$0	4.58%

Approval Rates

Total approvals of all applications
83.63%

Altana Federal Credit Union has a below average approval rate.

Pick Rate

Approvals leading to origination
76.34%

Altana Federal Credit Union has a below average pick rate.

Points and Fees

Points	Originations	Total Value	Average Loan
NA	279	$56,615,000	$202,921

Occupancy Type Mix

Dwelling Type	Originations	Total Value	Average Loan
Single Family (1-4 Units):Manufactured	9	$785,000	$87,222
Single Family (1-4 Units):Site-Built	270	$55,830,000	$206,778

LTV Distribution

Loan to Value	Originations	Total Value	Average Loan	Average Fees	Average Rate
20-40%	28	$2,990,000	$106,786	$1,941	3.53%
40-60%	63	$10,925,000	$173,413	$2,936	3.18%
60-80%	130	$31,980,000	$246,000	$4,067	3.24%
80-100%	39	$9,725,000	$249,359	$5,086	3.17%
Under 20%	19	$995,000	$52,368	$887	5.98%

Complaints

Bank Name	Product	Issue	2020 CPFB Complaints	% of Total Issues
Allied International Credit Corp., (US)	Conventional home mortgage	Trouble during payment process	1	100.0%