Avadian Mortgage Rates, Fees & Info

Hoover, AL

LEI: 549300FGGERPRKXH7V65

Tax ID: 63-0207315

5 stars - Updated: 4/18/24 - out of 5 stars, based on 33 reviews

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

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Mortgage Data

Review & Overview

Avadian is a smaller mortgage company specializing in Home Purchase loans. Avadian has a high proportion of conventional loans. They have a a low proportion of FHA loans. (This may mean they shy away from first time homebuyers.) They have a low ratio of USDA loans. Their top markets by origination volume include: Birmingham, Huntsville, Dothan, Daphne, and Mobile among others. We have data for 30 markets. (Some data included below & more in-depth data is available with an active subscription.)

Avadian has an average approval rate when compared to the average across all lenders. They have an average pick rate when compared to similar lenders. Avadian 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 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
Home Equity Line of Credit (HELOC) 1.16% 4/18/24
30 Year Conventional Purchase 5.49% 4/18/24
30 Year Conventional Refi 6.18% 4/18/24
30 Year Cash-out Refi 6.27% 4/18/24
30 Year FHA Purchase 6.27% 4/18/24
30 Year VA Purchase 6.25% 4/18/24
30 Year VA Refi 6.27% 4/18/24
15 Year Conventional Refi 5.68% 4/18/24
15 Year Cash-out Refi 5.68% 4/18/24
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.

Avadian Mortgage Calculator






Your Estimates

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

This is not an official calculator from Avadian. 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

1,059

Origination Dollar Volume (All Markets)

$163,195,000
Show all (5) awards

Relative Rate

Avadian's average 30 year fixed mortgage rate was 4.6%.

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

This yields a difference of -1.88%.

Relative Fees (Closing Costs)

Avadian's average total fees/closing costs for a 30 year fixed rate mortgage were $6,469.

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
BIRMINGHAM-HOOVER, AL (FHA|USDA|VA) 707 $92,915,000 $131,421 $4,919 4.36%
HUNTSVILLE, AL (FHA|USDA|VA) 149 $43,535,000 $292,181 $8,179 5.77%
DOTHAN, AL (FHA|USDA|VA) 71 $6,265,000 $88,239 $3,709 5.60%
Outside of Metro Areas 18 $2,830,000 $157,222 $8,407 4.81%
DAPHNE-FAIRHOPE-FOLEY, AL (FHA|USDA|VA) 11 $2,625,000 $238,636 $4,329 6.31%
MOBILE, AL (FHA|USDA|VA) 21 $2,435,000 $115,952 $5,521 4.83%
Talladega-Sylacauga, AL (FHA|USDA|VA) 4 $1,550,000 $387,500 $6,892 6.84%
DECATUR, AL (FHA|USDA|VA) 11 $1,255,000 $114,091 $3,318 5.34%
Ozark, AL (FHA|USDA|VA) 9 $1,185,000 $131,667 $3,228 4.69%
MONTGOMERY, AL (FHA|USDA|VA) 11 $1,085,000 $98,636 $2,750 3.12%
TUSCALOOSA, AL (FHA|USDA|VA) 10 $1,000,000 $100,000 $9,377 4.50%
Scottsboro, AL (FHA|USDA|VA) 2 $920,000 $460,000 $2,022 5.00%
AUBURN-OPELIKA, AL (FHA|USDA|VA) 4 $900,000 $225,000 $3,620 4.81%
Troy, AL (FHA|USDA|VA) 2 $610,000 $305,000 $6,856 7.13%
TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) 1 $585,000 $585,000 $2,227 7.25%
PENSACOLA-FERRY PASS-BRENT, FL (FHA|USDA|VA) 2 $570,000 $285,000 $5,409 6.56%
Alexander City, AL (FHA|USDA|VA) 1 $495,000 $495,000 $9,163 7.00%
Enterprise, AL (FHA|USDA|VA) 2 $430,000 $215,000 $0 3.87%
Jasper, AL (FHA|USDA|VA) 5 $405,000 $81,000 $3,279 5.04%
ANNISTON-OXFORD, AL (FHA|USDA|VA) 4 $400,000 $100,000 $6,478 3.77%
AUGUSTA-RICHMOND COUNTY, GA-SC (FHA|USDA|VA) 1 $375,000 $375,000 $14,478 6.38%
Cullman, AL (FHA|USDA|VA) 3 $245,000 $81,667 $0 3.49%
Albertville, AL (FHA|USDA|VA) 3 $165,000 $55,000 $0 5.74%
NEW ORLEANS-METAIRIE, LA (FHA|USDA|VA) 1 $105,000 $105,000 $3,490 6.25%
MEMPHIS, TN-MS-AR (FHA|USDA|VA) 1 $95,000 $95,000 $4,162 7.75%
LaGrange, GA-AL (FHA|USDA|VA) 1 $75,000 $75,000 $0 1.99%
Fort Payne, AL (FHA|USDA|VA) 1 $65,000 $65,000 $2,817 5.25%
FLORENCE-MUSCLE SHOALS, AL (FHA|USDA|VA) 1 $35,000 $35,000 $0 5.99%
GADSDEN, AL (FHA|USDA|VA) 1 $25,000 $25,000 $0 0.99%
Eufaula, AL-GA (FHA|USDA|VA) 1 $15,000 $15,000 $0 2.99%
Avadian's top markets include Birmingham, Huntsville, Dothan, Daphne, and Mobile among others.

Their top states include:
  • Alabama (FHA|USDA|VA)
  • Florida (FHA|USDA|VA)
  • Tennessee (FHA|USDA|VA)
  • Georgia (FHA|USDA|VA)
  • Louisiana (FHA|USDA|VA)
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    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    HELOC 729 $55,185,000 $75,700 n/a 4.00%
    Conventional 302 $98,070,000 $324,735 $5,528 6.28%
    VA 14 $6,860,000 $490,000 $10,663 6.20%
    FHA 12 $2,810,000 $234,167 $8,480 6.55%
    USDA 2 $270,000 $135,000 $4,847 6.44%

    For 2023, Avadian's most frequently originated type of loan was HELOC, with 729 originations. Their 2nd most popular type was Conventional, with 302 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Other 357 $24,985,000 $69,986 $0 3.74%
    Home Improvement 308 $23,090,000 $74,968 $0 3.98%
    Home Purchase 236 $76,220,000 $322,966 $6,286 5.93%
    Refi 96 $27,580,000 $287,292 $7,836 6.22%
    Cash Out Refi 61 $11,075,000 $181,557 $2,952 6.99%
    NA 1 $245,000 $245,000 $7,594 0.00%

    For 2023, Avadian's most frequently cited loan purpose was Other, with 357 originations. The 2nd most popular reason was Home Improvement, with 308 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 1,009 $154,195,000 $152,820 $6,469 4.60%
    Other 21 $4,065,000 $193,571 $858 6.51%
    15 Year 10 $2,630,000 $263,000 $5,145 6.22%
    10 Year 10 $630,000 $63,000 $943 8.88%
    5 Year 4 $190,000 $47,500 $743 6.25%
    1 Year 2 $1,010,000 $505,000 $9,385 7.25%
    20 Year 2 $290,000 $145,000 $5,809 7.25%
    30+ year 1 $185,000 $185,000 $6,775 5.75%

    For 2023, Avadian's most frequently cited loan duration was 30 Year, with 1,009 originations. The 2nd most popular length was Other, with 21 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 112 $37,680,000 $336,429
    $5k+ 65 $36,035,000 $554,385
    $2k-3k 36 $6,060,000 $168,333
    $1k-2k 30 $5,330,000 $177,667
    $3k-4k 24 $6,080,000 $253,333
    $4k-5k 23 $8,435,000 $366,739

    Avadian's average total fees were $6,469, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 112 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    <2.5% 370 $26,330,000 $71,162
    5-6% 270 $53,470,000 $198,037
    6-7% 139 $44,125,000 $317,446
    Over 8% 135 $11,345,000 $84,037
    2.5-3% 68 $5,500,000 $80,882
    7-8% 54 $11,310,000 $209,444
    4-5% 16 $7,590,000 $474,375
    3-4% 6 $3,280,000 $546,667

    During 2023, Avadian's average interest rate for loans was 4.60%, while their most frequently originated rate bucket for loans was <2.5%, with 370 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 609 $31,515,000 $51,749 $1,214 4.16%
    $100k-200k 194 $27,510,000 $141,804 $3,839 4.98%
    $200k-400k 151 $42,435,000 $281,026 $5,333 5.71%
    $400k-600k 66 $32,280,000 $489,091 $8,398 5.93%
    $600k-1MM 37 $27,005,000 $729,865 $11,070 6.06%
    $1MM+ 2 $2,450,000 $1,225,000 $10,830 6.25%

    2023 saw Avadian place emphasis on $100,000 or less loans with 609 originations, totaling $31,515,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 281 $36,995,000 $131,655 $4,957 4.72%
    $150k-250k 247 $58,595,000 $237,227 $7,530 4.81%
    $75k-100k 185 $21,765,000 $117,649 $4,960 4.68%
    $50k-75k 179 $14,435,000 $80,642 $3,685 4.55%
    $50k or less 107 $8,015,000 $74,907 $2,977 4.80%
    $250k+ 59 $23,145,000 $392,288 $10,043 4.73%

    Avadian lent most frequently to those with incomes in the $100k-150k range, with 281 originations. The second most popular income band? $150k-250k, with 247 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 269 $36,665,000 $136,301 $5,992 4.45%
    <20% 254 $27,720,000 $109,134 $4,232 4.47%
    30-36% 220 $33,140,000 $150,636 $5,337 4.68%
    37% 37 $7,145,000 $193,108 $7,127 5.33%
    38% 36 $6,070,000 $168,611 $6,994 3.79%
    39% 32 $6,820,000 $213,125 $8,226 5.02%
    41% 31 $6,305,000 $203,387 $6,123 5.04%
    40% 27 $5,325,000 $197,222 $4,590 5.47%
    44% 26 $6,360,000 $244,615 $6,364 5.63%
    36% 26 $3,050,000 $117,308 $3,639 4.41%
    42% 22 $5,120,000 $232,727 $6,540 5.96%
    43% 18 $3,280,000 $182,222 $4,351 4.75%
    45% 15 $4,625,000 $308,333 $7,733 5.38%
    47% 13 $2,015,000 $155,000 $4,733 5.37%
    46% 11 $3,035,000 $275,909 $4,564 5.32%
    >60% 6 $1,040,000 $173,333 $3,583 5.71%
    48% 6 $2,850,000 $475,000 $12,386 6.56%
    49% 5 $1,825,000 $365,000 $8,252 6.65%
    50-60% 2 $500,000 $250,000 $10,504 6.38%

    Avadian lent most frequently to those with DTI ratios of 20-30%, with 269 originations. The next most common DTI ratio? <20%, with 254 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 810 $117,550,000 $145,123 $5,678 4.67%
    Black 162 $23,010,000 $142,037 $6,726 4.48%
    Asian 34 $11,450,000 $336,765 $4,278 5.58%
    Not provided 47 $9,185,000 $195,426 $6,481 5.59%
    American Indian 4 $1,360,000 $340,000 $19,446 5.06%
    Asian Indian 2 $640,000 $320,000 $2,421 6.13%

    Approval Rates

    Total approvals of all applications
    87.21%

    Avadian has an average approval rate.

    Pick Rate

    Approvals leading to origination
    91.03%

    Avadian has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 1,059 $163,195,000 $154,103

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    1,059 $163,195,000 $154,103

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 300 $26,190,000 $87,300 $2,453 4.28%
    40-60% 84 $14,020,000 $166,905 $5,528 5.55%
    60-80% 122 $39,080,000 $320,328 $6,160 6.10%
    80-100% 168 $62,130,000 $369,821 $6,569 5.97%
    Over 100% 2 $910,000 $455,000 $17,033 6.00%
    Under 20% 382 $20,620,000 $53,979 $351 3.86%