A+ Federal Credit Union Mortgage Rates, Fees & Info

Austin, TX

LEI: 549300AZ4UOXI3Q53W34

Tax ID: 74-1178648

5 stars - Updated: 6/23/24 - out of 5 stars, based on 23 reviews

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

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Mortgage Data

Review & Overview

A+ Federal Credit Union is a smaller credit union specializing in Other, Home Improvement, and Cash Out Refi loans. A+ Federal Credit Union has a high proportion of conventional loans. Their top markets by origination volume include: Austin, Killeen, Houston, Dallas, and San Antonio among others. We have data for 19 markets. (Some data included below & more in-depth data is available with an active subscription.)

A+ 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. A+ 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 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.

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% 6/23/24
30 Year Conventional Purchase 6.05% 6/23/24
30 Year Conventional Refi 5.93% 6/23/24
30 Year Cash-out Refi 5.91% 6/23/24
15 Year Conventional Purchase 5.62% 6/23/24
15 Year Conventional Refi 5.69% 6/23/24
15 Year Cash-out Refi 5.69% 6/23/24
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.

A+ 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 A+ 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

528

Origination Dollar Volume (All Markets)

$65,730,000

Awards

A+ Federal Credit Union 30 Year Conventional Loans gold
Show all (1) awards

Relative Rate

A+ Federal Credit Union's average 30 year fixed mortgage rate was 7.26%.

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

This yields a difference of 0.78%.

Relative Fees (Closing Costs)

A+ Federal Credit Union's average total fees/closing costs for a 30 year fixed rate mortgage were $3,417.

The average total origination fees for 30 year fixed rate mortgages across all lenders (for all loan values, including both points & up-front fees in addition to origination fees) were $9,089.

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
AUSTIN-ROUND ROCK-GEORGETOWN, TX (FHA|USDA|VA) 411 $49,605,000 $120,693 $1,144 7.61%
KILLEEN-TEMPLE, TX (FHA|USDA|VA) 37 $6,005,000 $162,297 $783 7.42%
HOUSTON-THE WOODLANDS-SUGAR LAND, TX (FHA|USDA|VA) 22 $3,710,000 $168,636 $1,126 6.99%
Outside of Metro Areas 16 $1,100,000 $68,750 $281 7.70%
Dallas-Fort Worth-Arlington, TX (FHA|USDA|VA) 8 $1,070,000 $133,750 $1,272 6.86%
SAN ANTONIO-NEW BRAUNFELS, TX (FHA|USDA|VA) 10 $1,050,000 $105,000 $1,380 7.35%
CORPUS CHRISTI, TX (FHA|USDA|VA) 4 $680,000 $170,000 $4,180 7.03%
Rockport, TX (FHA|USDA|VA) 3 $575,000 $191,667 $2,171 6.54%
BEAUMONT-PORT ARTHUR, TX (FHA|USDA|VA) 2 $510,000 $255,000 $0 8.38%
WACO, TX (FHA|USDA|VA) 4 $370,000 $92,500 $1,150 7.13%
LUBBOCK, TX (FHA|USDA|VA) 2 $320,000 $160,000 $1,036 7.06%
SHERMAN-DENISON, TX (FHA|USDA|VA) 1 $195,000 $195,000 $2,848 5.88%
Athens, TX (FHA|USDA|VA) 1 $145,000 $145,000 $0 10.00%
Brownwood, TX (FHA|USDA|VA) 2 $130,000 $65,000 $795 8.00%
Brenham, TX (FHA|USDA|VA) 1 $85,000 $85,000 $795 8.38%
Big Spring, TX (FHA|USDA|VA) 1 $55,000 $55,000 $795 6.63%
Mount Pleasant, TX (FHA|USDA|VA) 1 $45,000 $45,000 $0 7.50%
LAREDO, TX (FHA|USDA|VA) 1 $45,000 $45,000 $0 9.00%
VICTORIA, TX (FHA|USDA|VA) 1 $35,000 $35,000 $495 6.75%
A+ Federal Credit Union's top markets include Austin, Killeen, Houston, Dallas, and San Antonio among others.

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

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

    HOMEAMERICAN MORTGAGE CORPORATION
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    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 414 $52,930,000 $127,850 $1,133 7.19%
    HELOC 114 $12,800,000 $112,281 n/a 8.85%

    For 2023, A+ Federal Credit Union's most frequently originated type of loan was Conventional, with 414 originations. Their 2nd most popular type was HELOC, with 114 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Other 214 $17,170,000 $80,234 $371 7.84%
    Home Improvement 179 $14,955,000 $83,547 $403 7.81%
    Cash Out Refi 63 $13,895,000 $220,556 $2,020 6.83%
    Home Purchase 47 $13,075,000 $278,191 $5,283 6.61%
    Refi 25 $6,635,000 $265,400 $379 6.75%

    For 2023, A+ Federal Credit Union's most frequently cited loan purpose was Other, with 214 originations. The 2nd most popular reason was Home Improvement, with 179 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    20 Year 180 $18,450,000 $102,500 $384 8.20%
    15 Year 132 $14,430,000 $109,318 $570 7.31%
    30 Year 105 $24,045,000 $229,000 $3,417 7.26%
    10 Year 75 $6,765,000 $90,200 $397 7.13%
    5 Year 36 $2,040,000 $56,667 $428 6.87%

    For 2023, A+ Federal Credit Union's most frequently cited loan duration was 20 Year, with 180 originations. The 2nd most popular length was 15 Year, with 132 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 355 $34,285,000 $96,577
    $1k-2k 27 $7,135,000 $264,259
    $5k+ 6 $2,410,000 $401,667
    $2k-3k 4 $1,390,000 $347,500
    $3k-4k 4 $870,000 $217,500
    $4k-5k 1 $235,000 $235,000

    A+ Federal Credit Union's average total fees were $3,417, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 355 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    7-8% 186 $19,910,000 $107,043
    Over 8% 161 $15,725,000 $97,671
    6-7% 158 $23,670,000 $149,810
    5-6% 20 $3,310,000 $165,500
    <2.5% 3 $3,115,000 $1,038,333

    During 2023, A+ Federal Credit Union's average interest rate for loans was 7.26%, while their most frequently originated rate bucket for loans was 7-8%, with 186 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 314 $17,450,000 $55,573 $402 7.71%
    $100k-200k 110 $15,510,000 $141,000 $1,031 7.47%
    $200k-400k 90 $23,730,000 $263,667 $3,320 7.31%
    $400k-600k 10 $4,820,000 $482,000 $7,251 6.25%
    $600k-1MM 3 $1,875,000 $625,000 $5,807 6.83%
    $1MM+ 1 $2,345,000 $2,345,000 $0 0.00%

    2023 saw A+ Federal Credit Union place emphasis on $100,000 or less loans with 314 originations, totaling $17,450,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 159 $18,695,000 $117,579 $1,255 7.70%
    $75k-100k 109 $10,635,000 $97,569 $877 7.66%
    $150k-250k 99 $14,725,000 $148,737 $1,742 7.68%
    $50k-75k 91 $6,705,000 $73,681 $482 7.45%
    $50k or less 23 $1,935,000 $84,130 $589 6.90%
    $250k+ 21 $4,325,000 $205,952 $2,199 7.91%

    A+ Federal Credit Union lent most frequently to those with incomes in the $100k-150k range, with 159 originations. The second most popular income band? $75k-100k, with 109 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    50-60% 89 $7,565,000 $85,000 $401 7.67%
    >60% 73 $6,735,000 $92,260 $307 7.51%
    20-30% 69 $8,585,000 $124,420 $1,316 7.66%
    30-36% 67 $7,745,000 $115,597 $1,298 7.41%
    <20% 26 $3,810,000 $146,538 $1,108 7.96%
    43% 17 $2,335,000 $137,353 $2,056 7.66%
    38% 17 $2,415,000 $142,059 $1,937 7.18%
    39% 16 $1,860,000 $116,250 $1,726 8.01%
    40% 16 $1,380,000 $86,250 $1,272 7.74%
    45% 15 $2,225,000 $148,333 $2,079 7.67%
    42% 14 $2,240,000 $160,000 $1,822 7.49%
    41% 13 $1,025,000 $78,846 $821 8.04%
    47% 13 $2,115,000 $162,692 $1,668 7.41%
    48% 13 $1,195,000 $91,923 $731 7.36%
    46% 12 $2,450,000 $204,167 $1,926 7.47%
    44% 11 $1,625,000 $147,727 $1,457 7.44%
    37% 11 $1,365,000 $124,091 $3,357 7.11%
    36% 9 $905,000 $100,556 $1,418 7.76%
    49% 9 $995,000 $110,556 $2,435 7.89%

    A+ Federal Credit Union lent most frequently to those with DTI ratios of 50-60%, with 89 originations. The next most common DTI ratio? >60%, with 73 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 387 $41,865,000 $108,178 $1,022 7.58%
    Not provided 65 $9,255,000 $142,385 $1,835 7.51%
    Not applicable 16 $6,560,000 $410,000 $0 5.97%
    Black 36 $4,830,000 $134,167 $847 7.90%
    Asian 11 $2,265,000 $205,909 $2,937 7.76%
    American Indian 12 $890,000 $74,167 $789 7.49%
    Native Hawaiian or Islander 1 $65,000 $65,000 $795 7.50%

    Approval Rates

    Total approvals of all applications
    76.58%

    A+ Federal Credit Union has a below average approval rate.

    Pick Rate

    Approvals leading to origination
    26.33%

    A+ 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 528 $65,730,000 $124,489

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    528 $65,730,000 $124,489

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 138 $16,950,000 $122,826 $560 7.76%
    40-60% 37 $7,605,000 $205,541 $1,761 7.02%
    60-80% 66 $20,420,000 $309,394 $3,811 6.90%
    80-100% 15 $4,475,000 $298,333 $4,958 6.20%
    Under 20% 272 $16,280,000 $59,853 $441 7.74%