Max Credit Union Mortgage Rates, Fees & Info
Montgomery, ALLEI: 549300B8JSCK4ZNVX087
Tax ID: 36-4618706
2021 Data | 2020 Data | 2019 Data | 2018 Data
Jump to:
Mortgage Data
Overview
Max Credit Union is a smaller credit union specializing in Home Purchase and Refi loans. Max Credit Union has a high proportion of conventional loans. They have a low ratio of USDA loans. Their top markets include Montgomery, Auburn, Alexander City, Birmingham, and Troy among others. Max 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. Max Credit Union is typically an average fee lendor.Originations
674Origination Dollar Volume (All Markets)
$134,190,000Awards
MAX Credit Union - 2021
MAX Credit Union is a 2021 , due to their low .
For 2021, less than of lenders were eligible for this award.
Work for MAX Credit Union?
Use this award on your own site. Either save and use the images below, or pass the provided image embed code to your development team.
Relative Rate
Max Credit Union's average 30 year fixed rate mortgage of loans were
3.11%.
The 2021 average 30 year fixed rate mortgage across all markets of loans were 3.15%.
This yields a difference of -0.04%.
Relative Fees
Max Credit Union's average total fees for a 30 year fixed rate
mortgage are $3,724.
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 |
|---|---|---|---|---|---|
| MONTGOMERY, AL (FHA|USDA|VA) | 483 | $85,335,000 | $176,677 | $3,363 | 2.93% |
| AUBURN-OPELIKA, AL (FHA|USDA|VA) | 79 | $21,835,000 | $276,392 | $4,031 | 3.01% |
| Alexander City, AL (FHA|USDA|VA) | 19 | $4,565,000 | $240,263 | $3,694 | 3.11% |
| BIRMINGHAM-HOOVER, AL (FHA|USDA|VA) | 16 | $4,510,000 | $281,875 | $3,998 | 2.98% |
| Troy, AL (FHA|USDA|VA) | 20 | $4,110,000 | $205,500 | $4,087 | 3.11% |
| DAPHNE-FAIRHOPE-FOLEY, AL (FHA|USDA|VA) | 6 | $3,310,000 | $551,667 | $3,906 | 2.92% |
| Outside of Metro Areas | 13 | $2,875,000 | $221,154 | $3,969 | 2.86% |
| TUSCALOOSA, AL (FHA|USDA|VA) | 4 | $1,400,000 | $350,000 | $3,009 | 3.34% |
| MOBILE, AL (FHA|USDA|VA) | 4 | $740,000 | $185,000 | $3,576 | 3.09% |
| ATLANTA-SANDY SPRINGS-ALPHARETTA, GA (FHA|USDA|VA) | 2 | $710,000 | $355,000 | $5,087 | 2.69% |
| DOTHAN, AL (FHA|USDA|VA) | 3 | $585,000 | $195,000 | $4,004 | 3.42% |
| PENSACOLA-FERRY PASS-BRENT, FL (FHA|USDA|VA) | 2 | $480,000 | $240,000 | $4,484 | 3.31% |
| Selma, AL (FHA|USDA|VA) | 5 | $435,000 | $87,000 | $2,640 | 3.30% |
| GADSDEN, AL (FHA|USDA|VA) | 1 | $395,000 | $395,000 | $6,040 | 3.75% |
| HUNTSVILLE, AL (FHA|USDA|VA) | 2 | $370,000 | $185,000 | $3,148 | 3.63% |
| Enterprise, AL (FHA|USDA|VA) | 2 | $350,000 | $175,000 | $3,773 | 3.19% |
| LaGrange, GA-AL (FHA|USDA|VA) | 3 | $285,000 | $95,000 | $2,906 | 3.08% |
| ATHENS-CLARKE COUNTY, GA (FHA|USDA|VA) | 1 | $265,000 | $265,000 | $4,497 | 2.25% |
| CRESTVIEW-FORT WALTON BEACH-DESTIN, FL (FHA|USDA|VA) | 1 | $245,000 | $245,000 | $4,497 | 3.13% |
| PANAMA CITY, FL (FHA|USDA|VA) | 1 | $245,000 | $245,000 | $5,593 | 3.00% |
| Ozark, AL (FHA|USDA|VA) | 1 | $195,000 | $195,000 | $2,595 | 2.88% |
| Atmore, AL (FHA|USDA|VA) | 1 | $185,000 | $185,000 | $2,943 | 2.75% |
| MACON-BIBB COUNTY, GA (FHA|USDA|VA) | 1 | $185,000 | $185,000 | $3,835 | 3.00% |
| Talladega-Sylacauga, AL (FHA|USDA|VA) | 1 | $175,000 | $175,000 | $3,797 | 3.50% |
| Starkville, MS (FHA|USDA|VA) | 1 | $175,000 | $175,000 | $3,630 | 2.88% |
| COLUMBUS, GA-AL (FHA|USDA|VA) | 1 | $145,000 | $145,000 | $3,555 | 3.00% |
| BRUNSWICK, GA (FHA|USDA|VA) | 1 | $85,000 | $85,000 | $3,095 | 3.13% |
Max Credit Union's top markets include Montgomery, Auburn, Alexander City, Birmingham, and Troy among others.
Product Mix
| Loan Type | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Conventional | 651 | $128,665,000 | $197,642 | $3,488 | 2.97% |
| VA | 21 | $5,185,000 | $246,905 | $4,522 | 2.68% |
| USDA | 2 | $340,000 | $170,000 | $1,747 | 2.63% |
For the 2021 period, Max Credit Union's most frequently originated loan type of loans were Conventional, with 651 originations. Their 2nd most popular type is VA, with 21 originations.
Loan Reason
| Loan Reason | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Home Purchase | 275 | $63,675,000 | $231,545 | $3,862 | 3.06% |
| Refi | 246 | $44,120,000 | $179,350 | $3,172 | 2.77% |
| Cash Out Refi | 151 | $25,595,000 | $169,503 | $3,500 | 3.09% |
| Home Improvement | 1 | $225,000 | $225,000 | $0 | 4.25% |
| Other | 1 | $575,000 | $575,000 | $0 | 4.25% |
For the 2021, Max Credit Union's most frequently cited loan purpose of loans were Home Purchase, with 275 originations. The 2nd most popular reason of loans were Refi, with 246 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| 30 Year | 325 | $67,935,000 | $209,031 | $3,724 | 3.11% |
| 15 Year | 188 | $33,120,000 | $176,170 | $3,473 | 2.60% |
| 20 Year | 70 | $13,030,000 | $186,143 | $3,368 | 3.00% |
| 10 Year | 45 | $4,795,000 | $106,556 | $2,466 | 2.50% |
| Other | 19 | $5,795,000 | $305,000 | $3,267 | 3.28% |
| 5 Year | 17 | $7,375,000 | $433,824 | $0 | 4.10% |
| 1 Year | 10 | $2,140,000 | $214,000 | $0 | 4.40% |
For the 2021, Max Credit Union's most frequently cited loan length of loans were 30 Year, with 325 originations. The 2nd most popular length of loans were 15 Year, with 188 originations.
Origination Fees
| Origination Fee | Originations | Total Value | Average Loan |
|---|---|---|---|
| $1k-2k | 305 | $46,475,000 | $152,377 |
| $2k-3k | 147 | $38,675,000 | $263,095 |
| $<1k | 106 | $13,510,000 | $127,453 |
| $3k-4k | 27 | $10,555,000 | $390,926 |
| $5k+ | 4 | $2,560,000 | $640,000 |
$3,724 of loans were Max Credit Union's average total fees, while their most frequently occuring range of origination fees were in the $1k-2k bucket, with 305 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 2.5-3% | 260 | $52,070,000 | $200,269 |
| 3-4% | 225 | $46,555,000 | $206,911 |
| <2.5% | 166 | $30,020,000 | $180,843 |
| 4-5% | 22 | $5,480,000 | $249,091 |
During 2021, Max Credit Union's average interest rate of loans were 3.11%, while their most frequently originated rate bucket of loans were 2.5-3%, with 260 originations.
Loan Sizing
| Loan Size | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| $100k-200k | 285 | $42,185,000 | $148,018 | $3,202 | 2.94% |
| $200k-400k | 228 | $60,490,000 | $265,307 | $4,195 | 2.95% |
| $100,000 or less | 128 | $9,300,000 | $72,656 | $2,445 | 2.99% |
| $400k-600k | 23 | $11,255,000 | $489,348 | $5,238 | 3.03% |
| $600k-1MM | 6 | $4,640,000 | $773,333 | $9,003 | 3.25% |
| $1MM+ | 4 | $6,320,000 | $1,580,000 | $0 | 3.65% |
2021 saw Max Credit Union place emphasis on $100k-200k loans with 285 originations, totaling $42,185,000 in origination value.
Applicant Income
| Applicant Income | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| $100k-150k | 166 | $36,390,000 | $219,217 | $3,822 | 2.88% |
| $50k-75k | 153 | $24,595,000 | $160,752 | $3,348 | 2.97% |
| $50k or less | 120 | $15,320,000 | $127,667 | $2,949 | 2.97% |
| $75k-100k | 119 | $20,525,000 | $172,479 | $3,366 | 2.90% |
| $150k-250k | 67 | $16,335,000 | $243,806 | $3,743 | 2.92% |
| $250k+ | 29 | $14,145,000 | $487,759 | $5,204 | 2.85% |
Max Credit Union lent most frequently to those with incomes in the $100k-150k range, with 166 originations. The second most popular income band? $50k-75k, with 153 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| 20-30% | 198 | $36,130,000 | $182,475 | $3,521 | 2.86% |
| 30-36% | 143 | $29,185,000 | $204,091 | $3,652 | 2.95% |
| <20% | 92 | $14,800,000 | $160,870 | $3,242 | 2.72% |
| 40% | 26 | $5,440,000 | $209,231 | $3,563 | 2.88% |
| 38% | 23 | $4,745,000 | $206,304 | $3,574 | 2.95% |
| 37% | 20 | $3,570,000 | $178,500 | $3,330 | 2.99% |
| 36% | 19 | $3,785,000 | $199,211 | $3,503 | 2.99% |
| 43% | 17 | $3,385,000 | $199,118 | $3,587 | 2.99% |
| 45% | 17 | $3,255,000 | $191,471 | $3,372 | 2.98% |
| 39% | 15 | $2,245,000 | $149,667 | $3,123 | 2.91% |
| 42% | 12 | $2,340,000 | $195,000 | $3,649 | 3.00% |
| 44% | 12 | $2,050,000 | $170,833 | $3,142 | 3.20% |
| 41% | 11 | $2,135,000 | $194,091 | $3,493 | 2.94% |
| 46% | 11 | $2,165,000 | $196,818 | $3,616 | 3.15% |
| 49% | 9 | $1,645,000 | $182,778 | $4,004 | 3.03% |
| 47% | 7 | $1,815,000 | $259,286 | $4,034 | 3.04% |
| 48% | 6 | $1,630,000 | $271,667 | $5,417 | 2.88% |
| 50-60% | 2 | $490,000 | $245,000 | $3,227 | 3.06% |
Max Credit Union lent most frequently to those with DTI ratios of 20-30%, with 198 originations. The next most common DTI ratio? 30-36%, with 143 originations.
Ethnicity Mix
| Applicant Ethnicity | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| White | 498 | $96,350,000 | $193,474 | $3,483 | 2.91% |
| Black | 126 | $21,680,000 | $172,063 | $3,548 | 2.95% |
| Not applicable | 24 | $10,730,000 | $447,083 | $0 | 4.13% |
| Asian | 16 | $3,170,000 | $198,125 | $3,953 | 2.94% |
| American Indian | 3 | $1,095,000 | $365,000 | $5,341 | 2.58% |
| Other Asian | 3 | $645,000 | $215,000 | $3,690 | 2.88% |
| Not provided | 2 | $220,000 | $110,000 | $2,907 | 3.06% |
| Korean | 1 | $185,000 | $185,000 | $4,105 | 3.13% |
| Filipino | 1 | $115,000 | $115,000 | $3,120 | 2.75% |
Approval Rates
Total approvals of all applications81.99%
Max Credit Union has a below average approval rate.
Pick Rate
Approvals leading to origination78.66%
Max Credit Union has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| 2901.77 | 1 | $225,000 | $225,000 |
| 3011.77 | 1 | $245,000 | $245,000 |
| 3257.77 | 1 | $455,000 | $455,000 |
| 45.77 | 1 | $155,000 | $155,000 |
| NA | 670 | $133,110,000 | $198,672 |
Occupancy Type Mix
| Dwelling Type | Originations | Total Value | Average Loan |
|---|---|---|---|
| 674 | $134,190,000 | $199,095 |
LTV Distribution
| Loan to Value | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| 20-40% | 27 | $3,405,000 | $126,111 | $2,692 | 2.69% |
| 40-60% | 112 | $17,010,000 | $151,875 | $3,047 | 2.82% |
| 60-80% | 283 | $59,225,000 | $209,276 | $3,462 | 2.99% |
| 80-100% | 250 | $54,110,000 | $216,440 | $3,815 | 3.03% |
| Over 100% | 1 | $375,000 | $375,000 | $16,360 | 2.63% |
| Under 20% | 1 | $65,000 | $65,000 | $2,530 | 2.50% |
