Advanz Federal Credit Union Mortgage Rates, Fees & Info
Louisville, KYLEI: 5493007ZG5EVEXW01J70
Tax ID: 61-0721062
Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data
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Mortgage Data
Review & Overview
Advanz Federal Credit Union is a smaller credit union specializing in 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 above average approval rate when compared to the average across all lenders. They have a below average pick rate when compared to similar lenders.
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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| Home Equity Line of Credit (HELOC) | 6.27% | 4/28/24 |
| 30 Year Conventional Purchase | 6.27% | 4/28/24 |
| 30 Year Conventional Refi | 6.27% | 4/28/24 |
| 30 Year Cash-out Refi | 6.27% | 4/28/24 |
| 15 Year Conventional Purchase | 5.68% | 4/28/24 |
| 15 Year Conventional Refi | 7.92% | 4/28/24 |
| 15 Year Cash-out Refi | 7.92% | 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. | ||
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
101Origination Dollar Volume (All Markets)
$7,105,000Top 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) | 99 | $6,935,000 | $70,051 | $0 | 5.00% |
| Outside of Metro Areas | 1 | $105,000 | $105,000 | $0 | 4.00% |
| ELIZABETHTOWN-FORT KNOX, KY (FHA|USDA|VA) | 1 | $65,000 | $65,000 | $0 | 4.88% |
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 | 83 | $6,385,000 | $76,928 | $0 | 4.89% |
| HELOC | 18 | $720,000 | $40,000 | n/a | 5.44% |
For 2018, Advanz Federal Credit Union's most frequently originated type of loan was Conventional, with 83 originations. Their 2nd most popular type was HELOC, with 18 originations.
Loan Reason
| Loan Reason | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Refi | 61 | $4,755,000 | $77,951 | $0 | 4.86% |
| Home Improvement | 31 | $1,075,000 | $34,677 | $0 | 5.33% |
| Home Purchase | 9 | $1,275,000 | $141,667 | $0 | 4.62% |
For 2018, Advanz Federal Credit Union's most frequently cited loan purpose was Refi, with 61 originations. The 2nd most popular reason was Home Improvement, with 31 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Other | 99 | $7,055,000 | $71,263 | $0 | 4.98% |
| 30+ year | 2 | $50,000 | $25,000 | $0 | 5.50% |
For 2018, Advanz Federal Credit Union's most frequently cited loan duration was Other, with 99 originations. The 2nd most popular length was 30+ year, with 2 originations.
Origination Fees/Closing Costs
| Origination Fee/Closing Cost | Originations | Total Value | Average Loan |
|---|---|---|---|
| $<1k | 82 | $6,330,000 | $77,195 |
| $1k-2k | 1 | $55,000 | $55,000 |
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 82 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 4-5% | 38 | $2,830,000 | $74,474 |
| 5-6% | 35 | $2,025,000 | $57,857 |
| 3-4% | 16 | $1,610,000 | $100,625 |
| 6-7% | 12 | $640,000 | $53,333 |
During 2018, Advanz Federal Credit Union's average interest rate for loans was 0.00%, while their most frequently originated rate bucket for loans was 4-5%, with 38 originations.
Loan Sizing
2018 saw Advanz Federal Credit Union place emphasis on $100,000 or less loans with 75 originations, totaling $3,385,000 in origination value.
Applicant Income
Advanz Federal Credit Union lent most frequently to those with incomes in the $50k or less range, with 33 originations. The second most popular income band? $50k-75k, with 23 originations.
Applicant Debt to Income Ratio
Advanz Federal Credit Union lent most frequently to those with DTI ratios of 20-30%, with 34 originations. The next most common DTI ratio? <20%, with 22 originations.
Ethnicity Mix
| Applicant Ethnicity | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| White | 72 | $5,400,000 | $75,000 | $0 | 4.84% |
| Black | 28 | $1,650,000 | $58,929 | $0 | 5.36% |
| Asian | 1 | $55,000 | $55,000 | $0 | 4.74% |
Approval Rates
Total approvals of all applications91.98%
Advanz Federal Credit Union has an average approval rate.
Pick Rate
Approvals leading to origination53.47%
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 |
|---|---|---|---|
| 0.0 | 19 | $1,755,000 | $92,368 |
| 107.0 | 1 | $15,000 | $15,000 |
| 1078.0 | 1 | $55,000 | $55,000 |
| 127.0 | 1 | $135,000 | $135,000 |
| 175.0 | 2 | $20,000 | $10,000 |
| 325.0 | 2 | $170,000 | $85,000 |
| 442.0 | 1 | $95,000 | $95,000 |
| 450.0 | 1 | $115,000 | $115,000 |
| 557.0 | 6 | $250,000 | $41,667 |
| 575.0 | 32 | $2,030,000 | $63,438 |
| 577.0 | 1 | $75,000 | $75,000 |
| 62.0 | 1 | $75,000 | $75,000 |
| 625.0 | 1 | $115,000 | $115,000 |
| 665.0 | 4 | $330,000 | $82,500 |
| 707.0 | 1 | $35,000 | $35,000 |
| 725.0 | 2 | $90,000 | $45,000 |
| 731.0 | 1 | $35,000 | $35,000 |
| 740.0 | 1 | $95,000 | $95,000 |
| 75.0 | 1 | $15,000 | $15,000 |
| 765.0 | 2 | $210,000 | $105,000 |
| 767.0 | 2 | $190,000 | $95,000 |
| 772.0 | 4 | $180,000 | $45,000 |
| 774.0 | 1 | $95,000 | $95,000 |
| 777.0 | 1 | $105,000 | $105,000 |
| 782.0 | 1 | $15,000 | $15,000 |
| 787.0 | 1 | $5,000 | $5,000 |
| 807.0 | 2 | $120,000 | $60,000 |
| 822.0 | 1 | $15,000 | $15,000 |
| 832.0 | 1 | $115,000 | $115,000 |
| 837.0 | 1 | $35,000 | $35,000 |
| 865.0 | 2 | $190,000 | $95,000 |
| 959.0 | 1 | $155,000 | $155,000 |
| NA | 2 | $170,000 | $85,000 |