Advanz Federal Credit Union Mortgage Rates, Fees & Info

Louisville, KY

LEI: 5493007ZG5EVEXW01J70

Tax ID: 61-0721062

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Mortgage Data

Review & Overview

Advanz Federal Credit Union is a smaller credit union specializing in Home Improvement and Other loans. Advanz Federal Credit Union has a high proportion of conventional loans. Their top markets by origination volume include: Louisville, Elizabethtown, Bardstown, and Campbellsville among others. We have data for 5 markets. (Some data included below & more in-depth data is available with an active subscription.)

Advanz 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. 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.

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SimulatedRates™

Mortgage Type
Simulated Rate Simulation Date
Home Equity Line of Credit (HELOC) 6.27% 4/18/24
30 Year Conventional Purchase 6.27% 4/18/24
30 Year Conventional Refi 6.27% 4/18/24
30 Year Cash-out Refi 6.27% 4/18/24
15 Year Conventional Purchase 5.68% 4/18/24
15 Year Conventional Refi 7.92% 4/18/24
15 Year Cash-out Refi 7.92% 4/18/24
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.

Advanz Federal Credit Union Mortgage Calculator






Your Estimates

Estimated Loan Payment: Update the calculator values and click calculate payment!

This is not an official calculator from Advanz 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

104

Origination Dollar Volume (All Markets)

$6,330,000

Relative Rate

Advanz Federal Credit Union's average 30 year fixed mortgage rate was 7.4%.

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

This yields a difference of 0.92%.

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
LOUISVILLE, KY (FHA|USDA|VA) 96 $5,750,000 $59,896 $895 8.14%
ELIZABETHTOWN-FORT KNOX, KY (FHA|USDA|VA) 3 $395,000 $131,667 $867 8.47%
Outside of Metro Areas 3 $115,000 $38,333 $860 7.75%
Bardstown, KY (FHA|USDA|VA) 1 $45,000 $45,000 $0 7.25%
Campbellsville, KY (FHA|USDA|VA) 1 $25,000 $25,000 $1,247 7.35%
Advanz Federal Credit Union's top markets include Louisville, Elizabethtown, Bardstown, and Campbellsville among others.

Their top states include:
  • Kentucky (FHA|USDA|VA)
  • Indiana (FHA|USDA|VA)
  • Similar Lenders

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

    The Peoples Bank
    Similarity Rank: 270
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    Similarity Rank: 325
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    PARK COMMUNITY CREDIT UNION, INC.
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    Central Bank
    Similarity Rank: 924

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 71 $4,525,000 $63,732 $900 7.86%
    HELOC 33 $1,805,000 $54,697 n/a 8.68%

    For 2023, Advanz Federal Credit Union's most frequently originated type of loan was Conventional, with 71 originations. Their 2nd most popular type was HELOC, with 33 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Improvement 50 $2,770,000 $55,400 $754 8.16%
    Other 37 $1,795,000 $48,514 $814 8.26%
    Refi 8 $810,000 $101,250 $812 7.84%
    Cash Out Refi 7 $585,000 $83,571 $787 7.91%
    Home Purchase 2 $370,000 $185,000 $2,836 6.53%

    For 2023, Advanz Federal Credit Union's most frequently cited loan purpose was Home Improvement, with 50 originations. The 2nd most popular reason was Other, with 37 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    15 Year 36 $2,400,000 $66,667 $803 8.20%
    20 Year 34 $2,110,000 $62,059 $3,521 8.63%
    10 Year 13 $595,000 $45,769 $959 7.57%
    Other 11 $385,000 $35,000 $809 7.77%
    5 Year 8 $230,000 $28,750 $741 7.20%
    30 Year 2 $610,000 $305,000 $0 7.40%

    For 2023, Advanz Federal Credit Union's most frequently cited loan duration was 15 Year, with 36 originations. The 2nd most popular length was 20 Year, with 34 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    Over 8% 58 $2,850,000 $49,138
    7-8% 32 $2,330,000 $72,813
    6-7% 14 $1,150,000 $82,143

    During 2023, Advanz Federal Credit Union's average interest rate for loans was 7.40%, while their most frequently originated rate bucket for loans was Over 8%, with 58 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 85 $3,595,000 $42,294 $832 8.22%
    $100k-200k 16 $1,820,000 $113,750 $812 7.81%
    $200k-400k 3 $915,000 $305,000 $3,521 7.18%

    2023 saw Advanz Federal Credit Union place emphasis on $100,000 or less loans with 85 originations, totaling $3,595,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 25 $1,265,000 $50,600 $838 8.32%
    $100k-150k 24 $1,980,000 $82,500 $1,469 8.13%
    $75k-100k 23 $1,105,000 $48,043 $782 8.24%
    $50k or less 17 $865,000 $50,882 $874 7.81%
    $150k-250k 15 $1,115,000 $74,333 $841 7.95%

    Advanz Federal Credit Union lent most frequently to those with incomes in the $50k-75k range, with 25 originations. The second most popular income band? $100k-150k, with 24 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 24 $1,710,000 $71,250 $1,162 7.92%
    30-36% 23 $1,385,000 $60,217 $796 8.35%
    <20% 14 $750,000 $53,571 $940 7.92%
    46% 7 $385,000 $55,000 $870 8.38%
    44% 7 $595,000 $85,000 $727 8.59%
    45% 5 $215,000 $43,000 $807 8.02%
    41% 4 $250,000 $62,500 $750 8.44%
    36% 3 $85,000 $28,333 $937 7.12%
    43% 3 $165,000 $55,000 $738 8.05%
    39% 3 $155,000 $51,667 $752 8.17%
    37% 3 $155,000 $51,667 $657 7.92%
    42% 2 $60,000 $30,000 $867 7.75%
    49% 2 $90,000 $45,000 $727 8.50%
    50-60% 1 $105,000 $105,000 $0 8.00%
    38% 1 $35,000 $35,000 $727 8.75%
    47% 1 $105,000 $105,000 $0 7.75%
    40% 1 $85,000 $85,000 $0 8.35%

    Advanz Federal Credit Union lent most frequently to those with DTI ratios of 20-30%, with 24 originations. The next most common DTI ratio? 30-36%, with 23 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 75 $4,925,000 $65,667 $949 8.09%
    Black 28 $1,390,000 $49,643 $757 8.25%
    Not applicable 1 $15,000 $15,000 $627 7.25%

    Approval Rates

    Total approvals of all applications
    87.57%

    Advanz Federal Credit Union has an average approval rate.

    Pick Rate

    Approvals leading to origination
    67.31%

    Advanz 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 104 $6,330,000 $60,865

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    104 $6,330,000 $60,865

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 34 $2,290,000 $67,353 $897 8.17%
    40-60% 5 $415,000 $83,000 $1,042 6.92%
    60-80% 7 $1,145,000 $163,571 $1,431 7.20%
    80-100% 1 $305,000 $305,000 $0 7.40%
    Under 20% 57 $2,175,000 $38,158 $762 8.33%