Advanz Federal Credit Union Mortgage Rates, Fees & Info

Louisville, KY

LEI: 5493007ZG5EVEXW01J70

Tax ID: 61-0721062

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

Jump to:

  • SimulatedRates™
  • Mortgage Calculator

    • Mortgage Data

  • Originations
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • Similar Lenders
  • Loan Length
  • Loan to Value Info
  • Debt-to-Income
  • Applicant Income
  • Ethnicity Info
  • Approval & Pick Rates
  • Points and Fees
  • Origination Fees (Closing Costs)

    • Review & Overview

    Advanz Federal Credit Union is a smaller credit union specializing in Refi and Cash Out Refi loans. Advanz Federal Credit Union has a high proportion of conventional loans. Their top two markets are Louisville and Bardstown .

    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. Advanz Federal Credit Union is typically a low 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.

    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
    Home Equity Line of Credit (HELOC) 6.27% 11/17/24
    30 Year Conventional Purchase 6.27% 11/17/24
    30 Year Conventional Refi 6.27% 11/17/24
    30 Year Cash-out Refi 6.27% 11/17/24
    15 Year Conventional Purchase 5.68% 11/17/24
    15 Year Conventional Refi 7.92% 11/17/24
    15 Year Cash-out Refi 7.92% 11/17/24
    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

    101

    Origination Dollar Volume (All Markets)

    $8,845,000

    Awards

    Advanz Federal Credit Union 30 Year Conventional Loans gold Advanz Federal Credit Union 30 Year Conventional Loans gold
    Show all (2) awards

    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) 94 $8,010,000 $85,213 $809 5.41%
    Outside of Metro Areas 6 $590,000 $98,333 $671 5.46%
    Bardstown, KY (FHA|USDA|VA) 1 $245,000 $245,000 $765 5.13%
    Advanz Federal Credit Union's top markets include Louisville and Bardstown among others.

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

    Guardian Savings Bank, A Federal Savings Bank
    Similarity Rank: 360
    Advanz Federal Credit Union
    Similarity Rank: 360
    The Peoples Bank
    Similarity Rank: 400
    COMMONWEALTH
    Similarity Rank: 408
    TRANSCEND
    Similarity Rank: 702
    Abound Federal Credit Union
    Similarity Rank: 752
    PARK COMMUNITY CREDIT UNION, INC.
    Similarity Rank: 912
    SOVEREIGN LENDING GROUP INCORPORATED
    Similarity Rank: 1182
    First Harrison Bank
    Similarity Rank: 1287
    Third Federal Savings and Loan Association of Cleveland
    Similarity Rank: 1392

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 84 $8,150,000 $97,024 $804 5.36%
    HELOC 17 $695,000 $40,882 n/a 5.71%

    For 2019, Advanz Federal Credit Union's most frequently originated type of loan was Conventional, with 84 originations. Their 2nd most popular type was HELOC, with 17 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Refi 35 $4,155,000 $118,714 $667 5.00%
    Home Improvement 29 $1,145,000 $39,483 $605 5.78%
    Cash Out Refi 17 $1,955,000 $115,000 $632 5.45%
    Home Purchase 12 $1,340,000 $111,667 $1,759 5.45%
    Other 8 $250,000 $31,250 $575 5.77%

    For 2019, Advanz Federal Credit Union's most frequently cited loan purpose was Refi, with 35 originations. The 2nd most popular reason was Home Improvement, with 29 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    20 Year 28 $2,090,000 $74,643 $842 5.52%
    15 Year 25 $2,065,000 $82,600 $642 5.59%
    30 Year 22 $3,570,000 $162,273 $1,152 5.09%
    Other 12 $720,000 $60,000 $673 4.97%
    10 Year 11 $365,000 $33,182 $601 5.50%
    5 Year 3 $35,000 $11,667 $575 6.83%

    For 2019, Advanz Federal Credit Union's most frequently cited loan duration was 20 Year, with 28 originations. The 2nd most popular length was 15 Year, with 25 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 1 $55,000 $55,000

    Advanz Federal Credit Union's average total fees were $1,152, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 1 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    5-6% 46 $4,350,000 $94,565
    4-5% 27 $3,145,000 $116,481
    6-7% 20 $840,000 $42,000
    3-4% 5 $455,000 $91,000
    7-8% 3 $55,000 $18,333

    During 2019, Advanz Federal Credit Union's average interest rate for loans was 5.09%, while their most frequently originated rate bucket for loans was 5-6%, with 46 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 69 $3,165,000 $45,870 $696 5.60%
    $100k-200k 21 $2,755,000 $131,190 $1,023 5.11%
    $200k-400k 11 $2,925,000 $265,909 $900 4.82%

    2019 saw Advanz Federal Credit Union place emphasis on $100,000 or less loans with 69 originations, totaling $3,165,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 37 $2,775,000 $75,000 $853 5.39%
    $50k or less 23 $1,335,000 $58,043 $777 5.39%
    $100k-150k 22 $2,870,000 $130,455 $926 5.40%
    $75k-100k 12 $830,000 $69,167 $596 5.77%
    $150k-250k 5 $955,000 $191,000 $650 5.08%
    $250k+ 2 $80,000 $40,000 $0 5.13%

    Advanz Federal Credit Union lent most frequently to those with incomes in the $50k-75k range, with 37 originations. The second most popular income band? $50k or less, with 23 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    <20% 29 $2,225,000 $76,724 $861 5.17%
    20-30% 27 $2,015,000 $74,630 $793 5.55%
    30-36% 21 $2,125,000 $101,190 $803 5.51%
    38% 4 $610,000 $152,500 $901 5.03%
    45% 4 $450,000 $112,500 $620 5.38%
    43% 3 $255,000 $85,000 $575 5.46%
    41% 3 $175,000 $58,333 $691 5.42%
    44% 2 $270,000 $135,000 $765 6.06%
    36% 2 $220,000 $110,000 $575 5.56%
    37% 2 $210,000 $105,000 $685 6.06%
    46% 1 $45,000 $45,000 $575 6.50%
    39% 1 $55,000 $55,000 $0 4.13%
    40% 1 $155,000 $155,000 $2,140 4.63%
    42% 1 $35,000 $35,000 $575 6.50%

    Advanz Federal Credit Union lent most frequently to those with DTI ratios of <20%, with 29 originations. The next most common DTI ratio? 20-30%, with 27 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 75 $7,235,000 $96,467 $867 5.33%
    Black 23 $1,385,000 $60,217 $676 5.80%
    Asian 1 $85,000 $85,000 $575 4.50%
    Native Hawaiian or Islander 1 $85,000 $85,000 $575 4.63%
    Not applicable 1 $55,000 $55,000 $477 4.50%

    Approval Rates

    Total approvals of all applications
    93.06%

    Advanz Federal Credit Union has an average approval rate.

    Pick Rate

    Approvals leading to origination
    65.35%

    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 101 $8,845,000 $87,574

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Single Family (1-4 Units):Manufactured 2 $60,000 $30,000
    Single Family (1-4 Units):Site-Built 99 $8,785,000 $88,737

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 17 $715,000 $42,059 $611 5.89%
    40-60% 11 $775,000 $70,455 $993 5.07%
    60-80% 38 $5,610,000 $147,632 $844 5.09%
    80-100% 6 $900,000 $150,000 $1,180 5.04%
    Under 20% 28 $740,000 $26,429 $628 5.77%