Max Credit Union Mortgage Rates, Fees & Info

Montgomery, AL

LEI: 549300B8JSCK4ZNVX087

Tax ID: 36-4618706

5 stars - Updated: 12/8/24 - out of 5 stars, based on 13 reviews

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

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Mortgage Data

Review & Overview

Max Credit Union is a smaller credit union specializing in Home Purchase loans. Max Credit Union has a high proportion of conventional loans. Their top markets by origination volume include: Montgomery, Auburn, Troy, Alexander City, and Crestview among others. We have data for 18 markets. (Some data included below & more in-depth data is available with an active subscription.)

Max 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. Max Credit Union is typically an average 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
30 Year Conventional Purchase 6.27% 12/8/24
30 Year Conventional Refi 6.27% 12/8/24
30 Year Cash-out Refi 6.27% 12/8/24
30 Year VA Purchase 6.27% 12/8/24
30 Year USDA Purchase 6.27% 12/8/24
15 Year Conventional Purchase 5.68% 12/8/24
15 Year Conventional Refi 5.68% 12/8/24
15 Year Cash-out Refi 5.68% 12/8/24
15 Year VA Refi 5.68% 12/8/24
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.

Max Credit Union Mortgage Calculator






Your Estimates

Estimated Loan Payment: Update the calculator values and click calculate payment!

This is not an official calculator from Max 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

169

Origination Dollar Volume (All Markets)

$43,005,000

Awards

MAX Credit Union 30 Year Conventional Loans bronze
Show all (1) awards

Relative Rate

Max Credit Union's average 30 year fixed mortgage rate was 6.7%.

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

This yields a difference of 0.22%.

Relative Fees (Closing Costs)

Max Credit Union's average total fees/closing costs for a 30 year fixed rate mortgage were $4,754.

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
MONTGOMERY, AL (FHA|USDA|VA) 108 $23,360,000 $216,296 $4,126 6.86%
AUBURN-OPELIKA, AL (FHA|USDA|VA) 20 $9,250,000 $462,500 $5,027 6.58%
Outside of Metro Areas 10 $2,240,000 $224,000 $4,730 6.54%
Troy, AL (FHA|USDA|VA) 9 $1,515,000 $168,333 $4,800 7.17%
Alexander City, AL (FHA|USDA|VA) 5 $1,475,000 $295,000 $4,341 6.85%
CRESTVIEW-FORT WALTON BEACH-DESTIN, FL (FHA|USDA|VA) 1 $1,205,000 $1,205,000 $0 7.75%
MEMPHIS, TN-MS-AR (FHA|USDA|VA) 1 $785,000 $785,000 $12,653 6.13%
BIRMINGHAM-HOOVER, AL (FHA|USDA|VA) 4 $670,000 $167,500 $4,062 7.28%
NASHVILLE-DAVIDSON-MURFREESBORO-FRANKLIN, TN (FHA|USDA|VA) 1 $405,000 $405,000 $7,908 6.88%
ATLANTA-SANDY SPRINGS-ALPHARETTA, GA (FHA|USDA|VA) 1 $395,000 $395,000 $5,435 6.13%
Fort Payne, AL (FHA|USDA|VA) 2 $300,000 $150,000 $4,160 6.56%
BURLINGTON, NC (FHA|USDA|VA) 1 $295,000 $295,000 $5,166 6.50%
DAPHNE-FAIRHOPE-FOLEY, AL (FHA|USDA|VA) 1 $275,000 $275,000 $4,871 7.25%
KANSAS CITY, MO-KS (FHA|USDA|VA) 1 $205,000 $205,000 $2,679 5.88%
LaGrange, GA-AL (FHA|USDA|VA) 1 $195,000 $195,000 $4,487 6.75%
MOBILE, AL (FHA|USDA|VA) 1 $185,000 $185,000 $3,778 8.50%
FLORENCE-MUSCLE SHOALS, AL (FHA|USDA|VA) 1 $185,000 $185,000 $4,908 6.50%
ANNISTON-OXFORD, AL (FHA|USDA|VA) 1 $65,000 $65,000 $3,247 6.75%
Max Credit Union's top markets include Montgomery, Auburn, Troy, Alexander City, and Crestview among others.

Their top states include:
  • Alabama (FHA|USDA|VA)
  • Florida (FHA|USDA|VA)
  • Tennessee (FHA|USDA|VA)
  • Georgia (FHA|USDA|VA)
  • North Carolina (FHA|USDA|VA)
  • Similar Lenders

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

    MAX Credit Union
    Similarity Rank: 522
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    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 168 $42,250,000 $251,488 $4,383 6.82%
    HELOC 1 $755,000 $755,000 n/a 8.50%

    For 2023, Max Credit Union's most frequently originated type of loan was Conventional, with 168 originations. Their 2nd most popular type was HELOC, with 1 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 115 $32,305,000 $280,913 $4,764 6.67%
    Cash Out Refi 42 $8,070,000 $192,143 $3,597 7.19%
    Refi 11 $2,305,000 $209,545 $3,524 6.95%
    Other 1 $325,000 $325,000 $0 8.75%

    For 2023, Max Credit Union's most frequently cited loan purpose was Home Purchase, with 115 originations. The 2nd most popular reason was Cash Out Refi, with 42 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 124 $30,820,000 $248,548 $4,754 6.70%
    15 Year 19 $2,825,000 $148,684 $3,721 6.67%
    10 Year 9 $675,000 $75,000 $1,659 8.03%
    Other 6 $4,360,000 $726,667 $2,968 7.50%
    20 Year 4 $580,000 $145,000 $3,733 6.44%
    5 Year 4 $2,260,000 $565,000 $0 7.38%
    1 Year 3 $1,485,000 $495,000 $0 7.83%

    For 2023, Max Credit Union's most frequently cited loan duration was 30 Year, with 124 originations. The 2nd most popular length was 15 Year, with 19 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $2k-3k 56 $13,010,000 $232,321
    $1k-2k 54 $7,630,000 $141,296
    $<1k 13 $1,365,000 $105,000
    $3k-4k 13 $5,075,000 $390,385
    $4k-5k 5 $2,135,000 $427,000
    $5k+ 4 $4,490,000 $1,122,500

    Max Credit Union's average total fees were $4,754, while their most frequently occuring range of origination fees (closing costs) were in the $2k-3k bucket, with 56 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    6-7% 107 $27,385,000 $255,935
    7-8% 36 $8,970,000 $249,167
    5-6% 16 $5,010,000 $313,125
    Over 8% 10 $1,640,000 $164,000

    During 2023, Max Credit Union's average interest rate for loans was 6.70%, while their most frequently originated rate bucket for loans was 6-7%, with 107 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100k-200k 63 $9,455,000 $150,079 $3,823 6.83%
    $200k-400k 55 $14,725,000 $267,727 $4,863 6.60%
    $100,000 or less 29 $1,995,000 $68,793 $2,418 7.31%
    $400k-600k 10 $4,400,000 $440,000 $6,727 6.65%
    $1MM+ 6 $8,210,000 $1,368,333 $11,523 6.90%
    $600k-1MM 6 $4,220,000 $703,333 $7,692 6.83%

    2023 saw Max Credit Union place emphasis on $100k-200k loans with 63 originations, totaling $9,455,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $75k-100k 36 $7,690,000 $213,611 $4,248 6.78%
    $100k-150k 34 $8,440,000 $248,235 $4,517 6.90%
    $50k-75k 32 $4,860,000 $151,875 $3,559 6.73%
    $150k-250k 31 $6,055,000 $195,323 $4,282 6.81%
    $50k or less 14 $1,600,000 $114,286 $3,344 6.88%
    $250k+ 13 $8,095,000 $622,692 $7,682 6.66%

    Max Credit Union lent most frequently to those with incomes in the $75k-100k range, with 36 originations. The second most popular income band? $100k-150k, with 34 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 40 $8,400,000 $210,000 $4,517 6.58%
    30-36% 33 $7,995,000 $242,273 $4,294 6.93%
    <20% 17 $3,555,000 $209,118 $4,503 6.59%
    36% 10 $2,030,000 $203,000 $4,643 6.60%
    42% 8 $2,550,000 $318,750 $5,280 7.11%
    48% 7 $1,965,000 $280,714 $4,356 6.89%
    39% 7 $885,000 $126,429 $3,425 7.14%
    44% 6 $940,000 $156,667 $3,626 7.54%
    47% 5 $1,525,000 $305,000 $4,606 6.53%
    37% 5 $1,145,000 $229,000 $4,753 6.53%
    43% 5 $925,000 $185,000 $3,280 7.12%
    41% 3 $505,000 $168,333 $3,151 7.42%
    38% 3 $715,000 $238,333 $4,658 7.04%
    40% 3 $1,065,000 $355,000 $6,271 6.46%
    45% 3 $575,000 $191,667 $3,709 6.42%
    46% 3 $365,000 $121,667 $3,389 6.71%
    49% 1 $395,000 $395,000 $6,637 7.25%

    Max Credit Union lent most frequently to those with DTI ratios of 20-30%, with 40 originations. The next most common DTI ratio? 30-36%, with 33 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 135 $30,955,000 $229,296 $4,310 6.78%
    Not applicable 8 $5,840,000 $730,000 $0 7.25%
    Black 20 $3,360,000 $168,000 $3,967 6.95%
    Asian 5 $2,705,000 $541,000 $8,681 6.98%
    Not provided 1 $145,000 $145,000 $3,743 6.88%

    Approval Rates

    Total approvals of all applications
    85.22%

    Max Credit Union has an average approval rate.

    Pick Rate

    Approvals leading to origination
    85.80%

    Max Credit Union has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 169 $43,005,000 $254,467

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    169 $43,005,000 $254,467

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 19 $4,845,000 $255,000 $3,043 7.14%
    40-60% 24 $5,360,000 $223,333 $3,911 6.80%
    60-80% 58 $15,580,000 $268,621 $4,651 6.88%
    80-100% 63 $16,985,000 $269,603 $4,981 6.60%
    Under 20% 5 $235,000 $47,000 $1,111 8.08%