Advanz Federal Credit Union Mortgage Rates, Fees & Info
Louisville, KYLEI: 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, Other, and Cash Out Refi loans. Advanz Federal Credit Union has a high proportion of conventional loans. Their top two markets are Louisville and Elizabethtown .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 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.
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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| Home Equity Line of Credit (HELOC) | 6.72% | 4/5/25 |
| 30 Year Conventional Purchase | 6.28% | 4/5/25 |
| 15 Year Conventional Purchase | 6.00% | 4/5/25 |
| 15 Year Conventional Refi | 6.00% | 4/5/25 |
| 15 Year Cash-out Refi | 6.00% | 4/5/25 |
| 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
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
53Origination Dollar Volume (All Markets)
$3,265,000Relative Rate
Advanz Federal Credit Union's average 30 year fixed mortgage rate was
6.5%.
The 2024 average 30 year fixed rate mortgage across all markets and lenders was 6.55%.
This yields a difference of -0.05%.
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) | 50 | $2,810,000 | $56,200 | $0 | 7.67% |
| Outside of Metro Areas | 2 | $430,000 | $215,000 | $0 | 7.75% |
| ELIZABETHTOWN-FORT KNOX, KY (FHA|USDA|VA) | 1 | $25,000 | $25,000 | $0 | 6.10% |
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.
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Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 42 | $2,650,000 | $63,095 | $0 | 7.33% |
| HELOC | 11 | $615,000 | $55,909 | n/a | 8.84% |
For 2024, Advanz Federal Credit Union's most frequently originated type of loan was Conventional, with 42 originations. Their 2nd most popular type was HELOC, with 11 originations.
Loan Reason
For 2024, Advanz Federal Credit Union's most frequently cited loan purpose was Home Improvement, with 21 originations. The 2nd most popular reason was Other, with 12 originations.
Loan Duration/Length
For 2024, Advanz Federal Credit Union's most frequently cited loan duration was 15 Year, with 13 originations. The 2nd most popular length was Other, with 13 originations.
Origination Fees/Closing Costs
| Origination Fee/Closing Cost | Originations | Total Value | Average Loan |
|---|---|---|---|
| $<1k | 29 | $1,745,000 | $60,172 |
| $1k-2k | 4 | $170,000 | $42,500 |
Advanz Federal Credit Union's average total fees were $0, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 29 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| Over 8% | 22 | $1,050,000 | $47,727 |
| 6-7% | 18 | $1,400,000 | $77,778 |
| 7-8% | 9 | $615,000 | $68,333 |
| 5-6% | 4 | $200,000 | $50,000 |
During 2024, Advanz Federal Credit Union's average interest rate for loans was 6.50%, while their most frequently originated rate bucket for loans was Over 8%, with 22 originations.
Loan Sizing
2024 saw Advanz Federal Credit Union place emphasis on $100,000 or less loans with 45 originations, totaling $1,965,000 in origination value.
Applicant Income
Advanz Federal Credit Union lent most frequently to those with incomes in the $50k-75k range, with 16 originations. The second most popular income band? $50k or less, with 11 originations.
Applicant Debt to Income Ratio
Advanz Federal Credit Union lent most frequently to those with DTI ratios of 30-36%, with 11 originations. The next most common DTI ratio? 20-30%, with 9 originations.
Ethnicity Mix
| Applicant Ethnicity | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| White | 35 | $2,325,000 | $66,429 | $0 | 7.52% |
| Black | 15 | $785,000 | $52,333 | $0 | 8.01% |
| Not applicable | 3 | $155,000 | $51,667 | $0 | 7.23% |
Approval Rates
Total approvals of all applications89.77%
Advanz Federal Credit Union has an average approval rate.
Pick Rate
Approvals leading to origination71.70%
Advanz Federal Credit Union has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 53 | $3,265,000 | $61,604 |