Max Credit Union Mortgage Rates, Fees & Info

Montgomery, AL

LEI: 549300B8JSCK4ZNVX087

Tax ID: 36-4618706

5 stars - Updated: 11/30/23 - out of 5 stars, based on 18 reviews

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

Jump to:

  • SimulatedRates™
  • Mortgage Calculator

    • Mortgage Data

  • Originations
  • Relative Rates
  • Relative Fees
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • 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

    Max Credit Union is a smaller credit union specializing in Home Purchase loans. Max Credit Union has a high proportion of conventional loans. They have a low ratio of USDA loans. Their top markets by origination volume include: Montgomery, Auburn, Birmingham, Troy, and Daphne among others. We have data for 23 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 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.

    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% 11/30/23
    30 Year Conventional Refi 6.27% 11/30/23
    30 Year Cash-out Refi 6.27% 11/30/23
    30 Year VA Purchase 6.27% 11/30/23
    30 Year USDA Purchase 6.27% 11/30/23
    15 Year Conventional Purchase 5.68% 11/30/23
    15 Year Conventional Refi 5.68% 11/30/23
    15 Year Cash-out Refi 5.68% 11/30/23
    15 Year VA Refi 5.68% 11/30/23
    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

    333

    Origination Dollar Volume (All Markets)

    $77,125,000

    Awards

    MAX Credit Union VA Loans gold
    Show all (1) awards

    Relative Rate

    Max Credit Union's average 30 year fixed mortgage rate was 4.82%.

    The 2022 average 30 year fixed rate mortgage across all markets and lenders was 4.76%.

    This yields a difference of 0.06%.

    Relative Fees (Closing Costs)

    Max Credit Union's average total fees/closing costs for a 30 year fixed rate mortgage were $4,291.

    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 $4,750.

    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) 237 $46,225,000 $195,042 $3,928 4.65%
    AUBURN-OPELIKA, AL (FHA|USDA|VA) 24 $9,680,000 $403,333 $4,258 4.48%
    BIRMINGHAM-HOOVER, AL (FHA|USDA|VA) 13 $6,175,000 $475,000 $4,767 4.56%
    Troy, AL (FHA|USDA|VA) 16 $2,830,000 $176,875 $4,005 5.02%
    DAPHNE-FAIRHOPE-FOLEY, AL (FHA|USDA|VA) 6 $2,460,000 $410,000 $5,417 4.71%
    Alexander City, AL (FHA|USDA|VA) 9 $2,385,000 $265,000 $4,521 4.86%
    Albertville, AL (FHA|USDA|VA) 1 $1,205,000 $1,205,000 $10,224 3.75%
    MOBILE, AL (FHA|USDA|VA) 4 $920,000 $230,000 $4,052 4.19%
    Outside of Metro Areas 6 $820,000 $136,667 $3,406 4.44%
    HUNTSVILLE, AL (FHA|USDA|VA) 3 $815,000 $271,667 $3,755 4.42%
    Seneca, SC (FHA|USDA|VA) 1 $745,000 $745,000 $0 4.50%
    PALM BAY-MELBOURNE-TITUSVILLE, FL (FHA|USDA|VA) 1 $595,000 $595,000 $4,943 2.50%
    PANAMA CITY, FL (FHA|USDA|VA) 1 $435,000 $435,000 $7,888 6.38%
    Somerset, KY (FHA|USDA|VA) 1 $395,000 $395,000 $0 3.63%
    Ozark, AL (FHA|USDA|VA) 1 $365,000 $365,000 $0 5.50%
    MEMPHIS, TN-MS-AR (FHA|USDA|VA) 1 $195,000 $195,000 $0 2.63%
    AMES, IA (FHA|USDA|VA) 1 $185,000 $185,000 $4,565 3.50%
    PENSACOLA-FERRY PASS-BRENT, FL (FHA|USDA|VA) 1 $155,000 $155,000 $4,068 3.25%
    LaGrange, GA-AL (FHA|USDA|VA) 2 $140,000 $70,000 $2,941 5.00%
    CHATTANOOGA, TN-GA (FHA|USDA|VA) 1 $135,000 $135,000 $0 6.00%
    Eufaula, AL-GA (FHA|USDA|VA) 1 $125,000 $125,000 $0 4.99%
    Scottsboro, AL (FHA|USDA|VA) 1 $75,000 $75,000 $3,082 4.00%
    Talladega-Sylacauga, AL (FHA|USDA|VA) 1 $65,000 $65,000 $0 6.88%
    Max Credit Union's top markets include Montgomery, Auburn, Birmingham, Troy, and Daphne among others.

    Their top states include:
  • Alabama (FHA|USDA|VA)
  • Florida (FHA|USDA|VA)
  • South Carolina (FHA|USDA|VA)
  • Kentucky (FHA|USDA|VA)
  • Mississippi (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.

    CB&S Bank, Inc.
    Similarity Rank: 504
    Hamilton Mortgage Corporation
    Similarity Rank: 696
    HOPE FEDERAL CREDIT UNION
    Similarity Rank: 1872
    SouthPoint Bank
    Similarity Rank: 1960
    Stifel Bank and Trust
    Similarity Rank: 2060
    PENTAGON FEDERAL CREDIT UNION
    Similarity Rank: 2680
    MAX Credit Union
    Similarity Rank: 2760
    CLEARPATH LENDING
    Similarity Rank: 3320
    DHI MORTGAGE COMPANY, LTD.
    Similarity Rank: 3672
    PLANET HOME LENDING, LLC
    Similarity Rank: 4768

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 316 $72,870,000 $230,601 $3,930 4.68%
    VA 16 $3,890,000 $243,125 $7,936 3.77%
    USDA 1 $365,000 $365,000 $7,836 4.75%

    For 2022, Max Credit Union's most frequently originated type of loan was Conventional, with 316 originations. Their 2nd most popular type was VA, with 16 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 206 $46,990,000 $228,107 $4,344 4.83%
    Cash Out Refi 75 $14,875,000 $198,333 $3,331 4.48%
    Refi 49 $13,795,000 $281,531 $3,760 4.08%
    Home Improvement 3 $1,465,000 $488,333 $0 4.25%

    For 2022, Max Credit Union's most frequently cited loan purpose was Home Purchase, with 206 originations. The 2nd most popular reason was Cash Out Refi, with 75 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 211 $46,465,000 $220,213 $4,291 4.82%
    15 Year 64 $11,050,000 $172,656 $3,617 4.26%
    20 Year 16 $2,340,000 $146,250 $3,477 4.57%
    10 Year 16 $1,990,000 $124,375 $3,162 3.88%
    5 Year 12 $7,380,000 $615,000 $0 4.58%
    Other 8 $5,650,000 $706,250 $3,368 4.80%
    1 Year 6 $2,250,000 $375,000 $0 4.42%

    For 2022, Max Credit Union's most frequently cited loan duration was 30 Year, with 211 originations. The 2nd most popular length was 15 Year, with 64 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $1k-2k 136 $20,290,000 $149,191
    $2k-3k 65 $18,285,000 $281,308
    $<1k 31 $3,925,000 $126,613
    $3k-4k 20 $7,290,000 $364,500
    $5k+ 3 $2,305,000 $768,333
    $4k-5k 2 $850,000 $425,000

    Max Credit Union's average total fees were $4,291, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 136 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    4-5% 100 $27,390,000 $273,900
    5-6% 84 $16,250,000 $193,452
    3-4% 78 $17,460,000 $223,846
    6-7% 34 $7,110,000 $209,118
    2.5-3% 19 $5,105,000 $268,684
    <2.5% 14 $3,140,000 $224,286
    7-8% 4 $670,000 $167,500

    During 2022, Max Credit Union's average interest rate for loans was 4.82%, while their most frequently originated rate bucket for loans was 4-5%, with 100 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100k-200k 137 $19,955,000 $145,657 $3,380 4.62%
    $200k-400k 107 $30,335,000 $283,505 $5,264 4.63%
    $100,000 or less 59 $4,235,000 $71,780 $2,595 4.77%
    $400k-600k 19 $9,145,000 $481,316 $5,701 4.62%
    $1MM+ 8 $11,390,000 $1,423,750 $10,224 4.24%
    $600k-1MM 3 $2,065,000 $688,333 $7,801 4.25%

    2022 saw Max Credit Union place emphasis on $100k-200k loans with 137 originations, totaling $19,955,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 71 $11,715,000 $165,000 $3,570 4.55%
    $75k-100k 70 $13,940,000 $199,143 $4,299 4.77%
    $100k-150k 63 $14,605,000 $231,825 $4,715 4.62%
    $50k or less 60 $7,770,000 $129,500 $3,150 4.65%
    $150k-250k 29 $8,105,000 $279,483 $4,875 4.70%
    $250k+ 22 $9,840,000 $447,273 $5,123 4.55%

    Max Credit Union lent most frequently to those with incomes in the $50k-75k range, with 71 originations. The second most popular income band? $75k-100k, with 70 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 83 $15,065,000 $181,506 $3,954 4.51%
    30-36% 59 $12,705,000 $215,339 $4,158 4.67%
    <20% 39 $6,165,000 $158,077 $3,497 4.39%
    42% 14 $3,530,000 $252,143 $4,471 5.12%
    38% 14 $2,740,000 $195,714 $4,241 4.84%
    39% 13 $2,855,000 $219,615 $3,776 4.69%
    43% 13 $3,195,000 $245,769 $4,669 4.72%
    41% 11 $2,805,000 $255,000 $4,596 4.70%
    37% 9 $1,995,000 $221,667 $4,342 5.08%
    36% 9 $1,465,000 $162,778 $3,318 4.61%
    44% 9 $1,615,000 $179,444 $3,798 4.26%
    40% 8 $1,880,000 $235,000 $3,890 4.08%
    46% 7 $1,215,000 $173,571 $4,197 5.34%
    48% 5 $635,000 $127,000 $2,742 4.93%
    49% 5 $2,525,000 $505,000 $5,351 5.75%
    47% 4 $740,000 $185,000 $2,861 4.91%
    50-60% 4 $860,000 $215,000 $7,484 4.69%
    45% 3 $1,095,000 $365,000 $5,001 3.67%

    Max Credit Union lent most frequently to those with DTI ratios of 20-30%, with 83 originations. The next most common DTI ratio? 30-36%, with 59 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 255 $54,845,000 $215,078 $4,013 4.65%
    Not applicable 17 $11,035,000 $649,118 $0 4.56%
    Black 55 $10,345,000 $188,091 $4,271 4.71%
    Asian 2 $430,000 $215,000 $4,484 3.38%
    American Indian 2 $250,000 $125,000 $2,919 2.94%
    Native Hawaiian or Islander 1 $165,000 $165,000 $3,859 4.00%
    Other Asian 1 $55,000 $55,000 $0 4.50%

    Approval Rates

    Total approvals of all applications
    89.41%

    Max Credit Union has an average approval rate.

    Pick Rate

    Approvals leading to origination
    76.88%

    Max Credit Union has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    0.0 1 $235,000 $235,000
    NA 332 $76,890,000 $231,596

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    333 $77,125,000 $231,607

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 19 $3,395,000 $178,684 $3,115 4.36%
    40-60% 47 $7,765,000 $165,213 $3,318 4.56%
    60-80% 113 $28,475,000 $251,991 $3,783 4.51%
    80-100% 149 $34,835,000 $233,792 $4,371 4.80%
    Over 100% 3 $815,000 $271,667 $11,635 4.25%
    Under 20% 2 $1,840,000 $920,000 $4,553 4.45%