A+ Federal Credit Union Mortgage Rates, Fees & Info

Austin, TX

LEI: 549300AZ4UOXI3Q53W34

Tax ID: 74-1178648

5 stars - out of 5 stars, based on 35 reviews

2021 Data | 2020 Data | 2019 Data | 2018 Data


Overview

A+ Federal Credit Union is a smaller credit union specializing in Cash Out Refi and Refi loans. A+ Federal Credit Union has a high proportion of conventional loans. Their top markets include Austin, Houston, San Antonio, Killeen, and Beaumont among others. A+ Federal Credit Union has an average approval rate for mortages when compared nationally. They have a below average pick rate when compared to the same sample of other lendors. A+ Federal Credit Union is typically a low fee lendor.


Originations

1,246

Origination Dollar Volume (All Markets)

$260,380,000

Awards

A+ Federal Credit Union 30 Year Conventional Loans gold A+ Federal Credit Union 30 Year Conventional Loans gold A+ Federal Credit Union 30 Year Conventional Loans bronze
Show all (3) awards

Relative Rate

A+ Federal Credit Union's average 30 year fixed rate mortgage of loans were 3.03%.

The 2021 average 30 year fixed rate mortgage across all markets of loans were 3.15%.

This yields a difference of -0.12%.

Relative Fees

A+ Federal Credit Union's average total fees for a 30 year fixed rate mortgage are $1,797.

The average total origination fees for 30 year fixed rate mortgages (for all loan values, including both points & up-front fees in addition to origination fees) are $4,750.

Top Markets

Market Originations Total Value Average Loan Average Fees Average Rate
AUSTIN-ROUND ROCK-GEORGETOWN, TX (FHA|USDA|VA) 995 $198,985,000 $199,985 $841 2.93%
HOUSTON-THE WOODLANDS-SUGAR LAND, TX (FHA|USDA|VA) 47 $18,135,000 $385,851 $1,218 3.42%
Outside of Metro Areas 49 $9,385,000 $191,531 $954 3.29%
SAN ANTONIO-NEW BRAUNFELS, TX (FHA|USDA|VA) 39 $8,685,000 $222,692 $1,326 3.20%
KILLEEN-TEMPLE, TX (FHA|USDA|VA) 52 $7,320,000 $140,769 $361 3.34%
BEAUMONT-PORT ARTHUR, TX (FHA|USDA|VA) 3 $4,685,000 $1,561,667 $0 4.75%
Dallas-Fort Worth-Arlington, TX (FHA|USDA|VA) 21 $4,345,000 $206,905 $719 2.99%
Brownwood, TX (FHA|USDA|VA) 3 $2,295,000 $765,000 $3,415 4.04%
MCALLEN-EDINBURG-MISSION, TX (FHA|USDA|VA) 4 $1,050,000 $262,500 $0 3.59%
CORPUS CHRISTI, TX (FHA|USDA|VA) 5 $845,000 $169,000 $1,097 3.70%
Rockport, TX (FHA|USDA|VA) 2 $550,000 $275,000 $6,772 3.19%
WICHITA FALLS, TX (FHA|USDA|VA) 2 $540,000 $270,000 $0 4.31%
COLLEGE STATION-BRYAN, TX (FHA|USDA|VA) 3 $535,000 $178,333 $1,723 3.21%
MIDLAND, TX (FHA|USDA|VA) 2 $390,000 $195,000 $6,494 4.50%
Athens, TX (FHA|USDA|VA) 2 $350,000 $175,000 $3,907 5.00%
WACO, TX (FHA|USDA|VA) 2 $310,000 $155,000 $0 2.63%
TYLER, TX (FHA|USDA|VA) 1 $255,000 $255,000 $0 3.00%
Alice, TX (FHA|USDA|VA) 2 $240,000 $120,000 $0 4.31%
El Campo, TX (FHA|USDA|VA) 1 $205,000 $205,000 $7,603 5.50%
VICTORIA, TX (FHA|USDA|VA) 1 $155,000 $155,000 $0 2.38%
Jacksonville, TX (FHA|USDA|VA) 1 $155,000 $155,000 $0 2.88%
ODESSA, TX (FHA|USDA|VA) 1 $155,000 $155,000 $0 2.50%
Nacogdoches, TX (FHA|USDA|VA) 1 $155,000 $155,000 $0 3.50%
Lufkin, TX (FHA|USDA|VA) 1 $145,000 $145,000 $4,325 5.00%
LONGVIEW, TX (FHA|USDA|VA) 1 $145,000 $145,000 $6,456 5.00%
Uvalde, TX (FHA|USDA|VA) 1 $115,000 $115,000 $0 3.25%
Kingsville, TX (FHA|USDA|VA) 1 $85,000 $85,000 $0 4.38%
Paris, TX (FHA|USDA|VA) 1 $75,000 $75,000 $0 2.88%
GRAND RAPIDS-KENTWOOD, MI (FHA|USDA|VA) 1 $45,000 $45,000 $0 5.75%
BROWNSVILLE-HARLINGEN, TX (FHA|USDA|VA) 1 $45,000 $45,000 $0 3.75%

A+ Federal Credit Union's top markets include Austin, Houston, San Antonio, Killeen, and Beaumont among others.

Product Mix

Loan Type Originations Total Value Average Loan Average Fees Average Rate
Conventional 1,246 $260,380,000 $208,973 $885 3.02%

For the 2021 period, A+ Federal Credit Union's most frequently originated loan type of loans were Conventional, with 1,246 originations.

Loan Reason

Loan Reason Originations Total Value Average Loan Average Fees Average Rate
Cash Out Refi 553 $143,755,000 $259,955 $926 3.00%
Refi 360 $69,220,000 $192,278 $424 2.86%
Other 131 $11,445,000 $87,366 $44 3.16%
Home Improvement 107 $8,305,000 $77,617 $0 3.12%
Home Purchase 95 $27,655,000 $291,105 $5,367 3.47%

For the 2021, A+ Federal Credit Union's most frequently cited loan purpose of loans were Cash Out Refi, with 553 originations. The 2nd most popular reason of loans were Refi, with 360 originations.

Loan Duration/Length

Loan Length Originations Total Value Average Loan Average Fees Average Rate
15 Year 455 $92,125,000 $202,473 $305 2.96%
30 Year 404 $115,060,000 $284,802 $1,797 3.03%
20 Year 142 $22,850,000 $160,915 $410 3.20%
10 Year 114 $10,790,000 $94,649 $66 2.86%
Other 83 $16,825,000 $202,711 $1,352 3.27%
5 Year 48 $2,730,000 $56,875 $0 3.01%

For the 2021, A+ Federal Credit Union's most frequently cited loan length of loans were 15 Year, with 455 originations. The 2nd most popular length of loans were 30 Year, with 404 originations.

Origination Fees

Origination Fee Originations Total Value Average Loan
$<1k 1,129 $211,825,000 $187,622
$3k-4k 22 $6,460,000 $293,636
$2k-3k 14 $3,220,000 $230,000
$1k-2k 8 $1,770,000 $221,250
$5k+ 3 $1,575,000 $525,000

$1,797 of loans were A+ Federal Credit Union's average total fees, while their most frequently occuring range of origination fees were in the $<1k bucket, with 1,129 originations.

Interest Rates

Loan Rate Originations Total Value Average Loan
2.5-3% 661 $137,615,000 $208,192
3-4% 340 $66,110,000 $194,441
<2.5% 180 $32,720,000 $181,778
4-5% 56 $22,760,000 $406,429
5-6% 8 $1,100,000 $137,500
6-7% 1 $75,000 $75,000

During 2021, A+ Federal Credit Union's average interest rate of loans were 3.03%, while their most frequently originated rate bucket of loans were 2.5-3%, with 661 originations.

Loan Sizing

Loan Size Originations Total Value Average Loan Average Fees Average Rate
$100k-200k 452 $67,540,000 $149,425 $226 3.00%
$200k-400k 398 $106,500,000 $267,588 $1,558 2.97%
$100,000 or less 310 $18,740,000 $60,452 $62 3.06%
$400k-600k 44 $20,650,000 $469,318 $4,208 3.15%
$600k-1MM 27 $19,505,000 $722,407 $4,844 3.10%
$1MM+ 15 $27,445,000 $1,829,667 $7,383 3.71%

2021 saw A+ Federal Credit Union place emphasis on $100k-200k loans with 452 originations, totaling $67,540,000 in origination value.

Applicant Income

Applicant Income Originations Total Value Average Loan Average Fees Average Rate
$100k-150k 356 $69,810,000 $196,096 $1,020 2.99%
$50k-75k 261 $37,465,000 $143,544 $302 2.98%
$75k-100k 203 $34,765,000 $171,256 $787 2.94%
$150k-250k 195 $48,565,000 $249,051 $1,437 2.98%
$50k or less 100 $10,300,000 $103,000 $315 3.05%
$250k+ 53 $21,595,000 $407,453 $2,495 3.02%

A+ Federal Credit Union lent most frequently to those with incomes in the $100k-150k range, with 356 originations. The second most popular income band? $50k-75k, with 261 originations.

Applicant Debt to Income Ratio

DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
20-30% 273 $48,945,000 $179,286 $930 2.91%
30-36% 234 $45,200,000 $193,162 $984 2.98%
50-60% 119 $18,645,000 $156,681 $360 2.95%
<20% 114 $19,030,000 $166,930 $560 2.87%
>60% 49 $7,355,000 $150,102 $52 3.09%
37% 41 $7,275,000 $177,439 $450 2.93%
42% 40 $8,630,000 $215,750 $1,053 2.93%
41% 38 $9,090,000 $239,211 $1,610 2.98%
40% 36 $8,620,000 $239,444 $1,146 3.00%
36% 34 $7,190,000 $211,471 $1,391 3.07%
45% 29 $6,575,000 $226,724 $1,274 2.94%
39% 28 $6,220,000 $222,143 $1,203 2.87%
38% 25 $6,445,000 $257,800 $1,387 2.97%
44% 25 $5,805,000 $232,200 $1,242 3.25%
47% 22 $3,400,000 $154,545 $234 3.03%
43% 22 $6,440,000 $292,727 $2,051 3.09%
48% 19 $5,045,000 $265,526 $1,317 2.88%
46% 18 $2,880,000 $160,000 $1,086 3.03%
49% 11 $2,155,000 $195,909 $920 2.88%

A+ Federal Credit Union lent most frequently to those with DTI ratios of 20-30%, with 273 originations. The next most common DTI ratio? 30-36%, with 234 originations.

Ethnicity Mix

Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
White 860 $156,640,000 $182,140 $808 2.98%
Not provided 219 $50,685,000 $231,438 $1,280 2.97%
Not applicable 50 $29,680,000 $593,600 $0 4.11%
Black 74 $13,060,000 $176,486 $728 2.97%
American Indian 22 $3,740,000 $170,000 $1,086 3.01%
Asian 16 $3,620,000 $226,250 $660 2.97%
Chinese 2 $2,620,000 $1,310,000 $0 3.75%
Asian Indian 1 $235,000 $235,000 $0 3.25%
Native Hawaiian 1 $65,000 $65,000 $0 3.13%
Filipino 1 $35,000 $35,000 $0 2.88%

Approval Rates

Total approvals of all applications
87.47%

A+ Federal Credit Union has an average approval rate.

Pick Rate

Approvals leading to origination
34.80%

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
1609.45 1 $45,000 $45,000
2364.73 1 $75,000 $75,000
799.0 2 $170,000 $85,000
NA 1,242 $260,090,000 $209,412

Occupancy Type Mix

Dwelling Type Originations Total Value Average Loan
1,246 $260,380,000 $208,973

LTV Distribution

Loan to Value Originations Total Value Average Loan Average Fees Average Rate
20-40% 287 $42,025,000 $146,429 $145 2.85%
40-60% 329 $75,645,000 $229,924 $630 2.92%
60-80% 329 $106,585,000 $323,967 $1,777 3.18%
80-100% 72 $21,850,000 $303,472 $4,257 3.41%
Under 20% 229 $14,275,000 $62,336 $43 3.05%