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
  • Complaints
  • 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 Home Improvement, Cash Out Refi, and Refi loans. Advanz Federal Credit Union has a high proportion of conventional loans. Their top markets by origination volume include: Louisville, Bardstown, and Scottsburg among others. We have data for 4 markets. (Some data included below & more in-depth data is available with an active subscription.)

    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.

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    SimulatedRates™

    Mortgage Type     		Simulated Rate Simulation Date
    Home Equity Line of Credit (HELOC) 6.27% 11/22/24
    30 Year Conventional Purchase 6.27% 11/22/24
    30 Year Conventional Refi 6.27% 11/22/24
    30 Year Cash-out Refi 6.27% 11/22/24
    15 Year Conventional Purchase 5.68% 11/22/24
    15 Year Conventional Refi 7.92% 11/22/24
    15 Year Cash-out Refi 7.92% 11/22/24
    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

    84

    Origination Dollar Volume (All Markets)

    $7,260,000

    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
    LOUISVILLE, KY (FHA|USDA|VA) 81 $6,895,000 $85,123 $2,286 3.63%
    Bardstown, KY (FHA|USDA|VA) 1 $135,000 $135,000 $0 2.70%
    Scottsburg, IN (FHA|USDA|VA) 1 $115,000 $115,000 $826 2.50%
    Outside of Metro Areas 1 $115,000 $115,000 $0 2.50%
    Advanz Federal Credit Union's top markets include Louisville, Bardstown, and Scottsburg 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.

    COMMONWEALTH
    Similarity Rank: 575
    INDIANA MEMBERS CREDIT UNION
    Similarity Rank: 810
    Guardian Savings Bank, A Federal Savings Bank
    Similarity Rank: 1035
    Central Bank
    Similarity Rank: 1044
    First Harrison Bank
    Similarity Rank: 1083
    TRANSCEND
    Similarity Rank: 1170
    Abound Federal Credit Union
    Similarity Rank: 1568
    Forcht Bank
    Similarity Rank: 1694
    The Paducah Bank and Trust Company
    Similarity Rank: 1809
    Independence Bank of Kentucky
    Similarity Rank: 2624

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 70 $6,630,000 $94,714 $1,921 3.61%
    HELOC 14 $630,000 $45,000 n/a 3.50%

    For 2021, Advanz Federal Credit Union's most frequently originated type of loan was Conventional, with 70 originations. Their 2nd most popular type was HELOC, with 14 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Improvement 31 $1,535,000 $49,516 $0 3.80%
    Cash Out Refi 22 $2,620,000 $119,091 $0 3.26%
    Refi 20 $2,290,000 $114,500 $826 3.39%
    Other 7 $185,000 $26,429 $0 4.11%
    Home Purchase 4 $630,000 $157,500 $2,286 3.84%

    For 2021, Advanz Federal Credit Union's most frequently cited loan purpose was Home Improvement, with 31 originations. The 2nd most popular reason was Cash Out Refi, with 22 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    15 Year 27 $3,195,000 $118,333 $0 3.52%
    10 Year 20 $1,500,000 $75,000 $1,109 3.83%
    20 Year 17 $1,285,000 $75,588 $0 3.53%
    Other 15 $705,000 $47,000 $0 3.13%
    5 Year 3 $35,000 $11,667 $0 4.96%
    30 Year 2 $540,000 $270,000 $2,733 3.95%

    For 2021, Advanz Federal Credit Union's most frequently cited loan duration was 15 Year, with 27 originations. The 2nd most popular length was 10 Year, with 20 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    3-4% 42 $4,060,000 $96,667
    4-5% 16 $1,160,000 $72,500
    2.5-3% 10 $890,000 $89,000
    <2.5% 9 $975,000 $108,333
    5-6% 6 $140,000 $23,333
    6-7% 1 $35,000 $35,000

    During 2021, Advanz Federal Credit Union's average interest rate for loans was 3.95%, while their most frequently originated rate bucket for loans was 3-4%, with 42 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 49 $1,975,000 $40,306 $1,392 3.77%
    $100k-200k 28 $3,550,000 $126,786 $826 3.32%
    $200k-400k 7 $1,735,000 $247,857 $2,733 3.41%

    2021 saw Advanz Federal Credit Union place emphasis on $100,000 or less loans with 49 originations, totaling $1,975,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 26 $1,310,000 $50,385 $0 4.07%
    $100k-150k 19 $2,165,000 $113,947 $2,870 3.50%
    $75k-100k 18 $1,680,000 $93,333 $826 3.40%
    $50k or less 17 $1,435,000 $84,412 $1,994 3.23%
    $150k-250k 3 $335,000 $111,667 $0 3.48%
    $250k+ 1 $335,000 $335,000 $0 2.50%

    Advanz Federal Credit Union lent most frequently to those with incomes in the $50k-75k range, with 26 originations. The second most popular income band? $100k-150k, with 19 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 20 $2,060,000 $103,000 $0 3.66%
    <20% 18 $1,860,000 $103,333 $826 3.06%
    30-36% 16 $1,280,000 $80,000 $2,870 3.78%
    40% 5 $375,000 $75,000 $0 3.83%
    43% 4 $230,000 $57,500 $0 3.31%
    37% 4 $230,000 $57,500 $0 3.84%
    36% 3 $145,000 $48,333 $1,392 4.40%
    42% 3 $95,000 $31,667 $0 3.38%
    38% 3 $125,000 $41,667 $0 3.30%
    41% 2 $50,000 $25,000 $0 4.19%
    39% 2 $190,000 $95,000 $0 4.23%
    47% 2 $280,000 $140,000 $2,597 3.98%
    48% 1 $135,000 $135,000 $0 4.20%
    50-60% 1 $205,000 $205,000 $0 3.00%

    Advanz Federal Credit Union lent most frequently to those with DTI ratios of 20-30%, with 20 originations. The next most common DTI ratio? <20%, with 18 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 66 $5,540,000 $83,939 $1,921 3.51%
    Black 17 $1,575,000 $92,647 $0 3.93%
    Asian 1 $145,000 $145,000 $0 3.20%

    Approval Rates

    Total approvals of all applications
    90.81%

    Advanz Federal Credit Union has an average approval rate.

    Pick Rate

    Approvals leading to origination
    29.76%

    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 84 $7,260,000 $86,429

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    84 $7,260,000 $86,429

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 13 $855,000 $65,769 $1,392 3.29%
    40-60% 16 $1,470,000 $91,875 $0 3.37%
    60-80% 24 $3,530,000 $147,083 $1,711 3.40%
    80-100% 3 $555,000 $185,000 $2,870 3.70%
    Under 20% 28 $850,000 $30,357 $0 4.00%

    Complaints

    Bank Name Product Issue 2021 CPFB Complaints % of Total Issues
    Advantage Credit, Inc. Conventional home mortgage Trouble during payment process 1 100.0%