Avadian Mortgage Rates, Fees & Info

Hoover, AL

LEI: 549300FGGERPRKXH7V65

Tax ID: 63-0207315

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

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  • SimulatedRates™
  • Mortgage Calculator

    • Mortgage Data

  • Originations
  • 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

    Avadian is a smaller mortgage company specializing in Home Purchase, Refi, and Cash Out Refi 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, Mobile, and Daphne among others. We have data for 29 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Avadian has an above average approval rate when compared to the average across all lenders. They have a below average pick rate when compared to similar lenders. Avadian 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
    Home Equity Line of Credit (HELOC) 1.16% 12/16/24
    30 Year Conventional Purchase 5.49% 12/16/24
    30 Year Conventional Refi 6.18% 12/16/24
    30 Year Cash-out Refi 6.27% 12/16/24
    30 Year FHA Purchase 6.27% 12/16/24
    30 Year VA Purchase 6.25% 12/16/24
    30 Year VA Refi 6.27% 12/16/24
    15 Year Conventional Refi 5.68% 12/16/24
    15 Year Cash-out Refi 5.68% 12/16/24
    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

    986

    Origination Dollar Volume (All Markets)

    $249,860,000
    Show all (9) awards

    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) 486 $117,740,000 $242,263 $2,990 2.85%
    HUNTSVILLE, AL (FHA|USDA|VA) 271 $86,795,000 $320,277 $4,503 2.92%
    DOTHAN, AL (FHA|USDA|VA) 97 $14,485,000 $149,330 $3,084 2.79%
    MOBILE, AL (FHA|USDA|VA) 22 $3,010,000 $136,818 $2,550 3.04%
    DAPHNE-FAIRHOPE-FOLEY, AL (FHA|USDA|VA) 10 $2,950,000 $295,000 $3,427 2.84%
    Outside of Metro Areas 9 $2,945,000 $327,222 $4,162 2.89%
    Scottsboro, AL (FHA|USDA|VA) 8 $2,680,000 $335,000 $5,523 3.09%
    MONTGOMERY, AL (FHA|USDA|VA) 12 $2,470,000 $205,833 $3,356 2.69%
    Alexander City, AL (FHA|USDA|VA) 7 $2,145,000 $306,429 $3,604 2.89%
    CRESTVIEW-FORT WALTON BEACH-DESTIN, FL (FHA|USDA|VA) 7 $1,995,000 $285,000 $3,867 2.77%
    DECATUR, AL (FHA|USDA|VA) 5 $1,715,000 $343,000 $4,617 3.03%
    TUSCALOOSA, AL (FHA|USDA|VA) 7 $1,465,000 $209,286 $2,979 3.04%
    AUBURN-OPELIKA, AL (FHA|USDA|VA) 6 $1,430,000 $238,333 $3,941 3.25%
    Jasper, AL (FHA|USDA|VA) 8 $1,180,000 $147,500 $4,109 2.94%
    Albertville, AL (FHA|USDA|VA) 4 $1,150,000 $287,500 $6,390 3.13%
    Talladega-Sylacauga, AL (FHA|USDA|VA) 5 $905,000 $181,000 $2,441 3.10%
    ATLANTA-SANDY SPRINGS-ALPHARETTA, GA (FHA|USDA|VA) 3 $645,000 $215,000 $2,508 2.75%
    PENSACOLA-FERRY PASS-BRENT, FL (FHA|USDA|VA) 2 $580,000 $290,000 $2,688 2.81%
    Cullman, AL (FHA|USDA|VA) 2 $540,000 $270,000 $2,959 2.88%
    Ozark, AL (FHA|USDA|VA) 3 $535,000 $178,333 $3,188 3.04%
    ANCHORAGE, AK (FHA|USDA|VA) 1 $465,000 $465,000 $3,274 2.25%
    Enterprise, AL (FHA|USDA|VA) 2 $380,000 $190,000 $2,624 2.75%
    NASHVILLE-DAVIDSON-MURFREESBORO-FRANKLIN, TN (FHA|USDA|VA) 2 $330,000 $165,000 $2,876 2.88%
    GADSDEN, AL (FHA|USDA|VA) 2 $290,000 $145,000 $2,661 2.94%
    PANAMA CITY, FL (FHA|USDA|VA) 1 $275,000 $275,000 $5,124 3.75%
    GULFPORT-BILOXI, MS (FHA|USDA|VA) 1 $235,000 $235,000 $2,660 2.63%
    SAVANNAH, GA (FHA|USDA|VA) 1 $195,000 $195,000 $3,066 3.25%
    Atmore, AL (FHA|USDA|VA) 1 $195,000 $195,000 $2,769 2.25%
    ANNISTON-OXFORD, AL (FHA|USDA|VA) 1 $135,000 $135,000 $2,937 2.75%
    Avadian's top markets include Birmingham, Huntsville, Dothan, Mobile, and Daphne among others.

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

    • Similar Lenders

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

    Five Star Credit Union
    Similarity Rank: 589
    SmartBank
    Similarity Rank: 592
    BankPlus
    Similarity Rank: 630
    Pen Air Federal Credit Union
    Similarity Rank: 632
    Liberty Mortgage Corporation
    Similarity Rank: 675
    Jefferson Credit Union
    Similarity Rank: 900
    KEESLER
    Similarity Rank: 1394
    Independent Bank
    Similarity Rank: 1504
    ALABAMA TEACHERS
    Similarity Rank: 1638
    Eco Credit Union
    Similarity Rank: 1900

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 893 $220,715,000 $247,161 $3,203 2.89%
    VA 62 $23,830,000 $384,355 $6,668 2.68%
    FHA 19 $3,445,000 $181,316 $5,772 2.81%
    USDA 12 $1,870,000 $155,833 $4,377 2.68%

    For 2021, Avadian's most frequently originated type of loan was Conventional, with 893 originations. Their 2nd most popular type was VA, with 62 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 379 $112,835,000 $297,718 $4,100 2.94%
    Refi 327 $75,855,000 $231,972 $3,254 2.67%
    Cash Out Refi 276 $59,840,000 $216,812 $2,876 3.02%
    Other 3 $1,075,000 $358,333 $7,825 3.21%
    Home Improvement 1 $255,000 $255,000 $3,334 2.38%

    For 2021, Avadian's most frequently cited loan purpose was Home Purchase, with 379 originations. The 2nd most popular reason was Refi, with 327 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 739 $201,845,000 $273,133 $3,736 2.96%
    15 Year 191 $37,255,000 $195,052 $2,824 2.39%
    20 Year 32 $7,550,000 $235,938 $2,867 2.76%
    10 Year 8 $970,000 $121,250 $1,275 3.91%
    Other 8 $1,130,000 $141,250 $2,243 4.48%
    5 Year 7 $705,000 $100,714 $1,255 4.46%
    30+ year 1 $405,000 $405,000 $8,472 4.00%

    For 2021, Avadian's most frequently cited loan duration was 30 Year, with 739 originations. The 2nd most popular length was 15 Year, with 191 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 683 $164,965,000 $241,530
    $1k-2k 91 $15,865,000 $174,341
    $2k-3k 62 $15,940,000 $257,097
    $3k-4k 37 $11,765,000 $317,973
    $5k+ 37 $21,245,000 $574,189
    $4k-5k 29 $11,365,000 $391,897

    Avadian's average total fees were $3,736, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 683 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    2.5-3% 440 $113,800,000 $258,636
    <2.5% 272 $63,840,000 $234,706
    3-4% 252 $69,810,000 $277,024
    4-5% 14 $2,020,000 $144,286
    5-6% 7 $365,000 $52,143
    6-7% 1 $25,000 $25,000

    During 2021, Avadian's average interest rate for loans was 2.96%, while their most frequently originated rate bucket for loans was 2.5-3%, with 440 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 379 $107,765,000 $284,340 $3,564 2.85%
    $100k-200k 353 $52,245,000 $148,003 $2,719 2.84%
    $400k-600k 129 $61,645,000 $477,868 $5,126 2.81%
    $100,000 or less 96 $7,140,000 $74,375 $2,260 3.10%
    $600k-1MM 27 $18,975,000 $702,778 $8,694 3.17%
    $1MM+ 2 $2,090,000 $1,045,000 $7,389 3.25%

    2021 saw Avadian place emphasis on $200k-400k loans with 379 originations, totaling $107,765,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k or less 224 $40,040,000 $178,750 $3,103 2.83%
    $100k-150k 212 $59,520,000 $280,755 $3,652 2.85%
    $75k-100k 178 $40,880,000 $229,663 $3,366 2.84%
    $150k-250k 155 $55,635,000 $358,935 $4,347 2.89%
    $50k-75k 154 $27,420,000 $178,052 $2,725 2.90%
    $250k+ 60 $25,490,000 $424,833 $4,413 3.12%

    Avadian lent most frequently to those with incomes in the $50k or less range, with 224 originations. The second most popular income band? $100k-150k, with 212 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 300 $75,120,000 $250,400 $3,323 2.88%
    <20% 144 $33,210,000 $230,625 $2,925 2.75%
    30-36% 144 $37,050,000 $257,292 $3,719 3.00%
    41% 30 $7,390,000 $246,333 $2,994 2.91%
    37% 29 $8,895,000 $306,724 $4,172 2.90%
    39% 28 $7,830,000 $279,643 $4,625 2.69%
    40% 26 $7,570,000 $291,154 $3,702 3.02%
    38% 24 $6,570,000 $273,750 $3,811 2.99%
    36% 24 $6,310,000 $262,917 $3,096 2.77%
    42% 21 $5,985,000 $285,000 $4,130 3.09%
    43% 21 $4,715,000 $224,524 $3,507 2.89%
    46% 21 $5,445,000 $259,286 $4,230 2.83%
    44% 20 $4,250,000 $212,500 $3,055 2.85%
    49% 18 $4,960,000 $275,556 $3,802 2.70%
    48% 10 $1,750,000 $175,000 $2,613 2.75%
    45% 8 $1,920,000 $240,000 $3,658 2.75%
    47% 8 $1,740,000 $217,500 $3,253 3.25%
    50-60% 6 $2,300,000 $383,333 $8,141 2.90%
    >60% 3 $355,000 $118,333 $1,909 3.54%

    Avadian lent most frequently to those with DTI ratios of 20-30%, with 300 originations. The next most common DTI ratio? <20%, with 144 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 769 $191,095,000 $248,498 $3,423 2.88%
    Black 129 $32,845,000 $254,612 $3,915 2.92%
    Asian 70 $20,740,000 $296,286 $2,898 2.72%
    Not provided 7 $2,945,000 $420,714 $7,595 3.00%
    American Indian 9 $1,935,000 $215,000 $4,313 2.96%
    Native Hawaiian or Islander 2 $300,000 $150,000 $2,167 3.00%

    Approval Rates

    Total approvals of all applications
    93.99%

    Avadian has an average approval rate.

    Pick Rate

    Approvals leading to origination
    86.11%

    Avadian has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 986 $249,860,000 $253,408

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    986 $249,860,000 $253,408

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 45 $6,515,000 $144,778 $2,258 2.99%
    40-60% 135 $25,035,000 $185,444 $2,793 2.67%
    60-80% 423 $107,595,000 $254,362 $3,261 2.86%
    80-100% 373 $108,275,000 $290,282 $4,003 2.93%
    Over 100% 4 $2,020,000 $505,000 $19,833 2.38%
    Under 20% 6 $420,000 $70,000 $1,022 4.60%