Avadian Mortgage Rates, Fees & Info
Hoover, ALLEI: 549300FGGERPRKXH7V65
Tax ID: 63-0207315
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Mortgage Data
Review & Overview
Avadian is a smaller mortgage company specializing in Home Improvement, Other, and Refi loans. Avadian has an average proportion of conventional loans. Their top markets by origination volume include: Birmingham, Huntsville, Dothan, Mobile, and Daphne among others. We have data for 21 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 a below 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.
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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| Home Equity Line of Credit (HELOC) | 1.16% | 9/1/24 |
| 30 Year Conventional Purchase | 5.49% | 9/1/24 |
| 30 Year Conventional Refi | 6.18% | 9/1/24 |
| 30 Year Cash-out Refi | 6.27% | 9/1/24 |
| 30 Year FHA Purchase | 6.27% | 9/1/24 |
| 30 Year VA Purchase | 6.25% | 9/1/24 |
| 30 Year VA Refi | 6.27% | 9/1/24 |
| 15 Year Conventional Refi | 5.68% | 9/1/24 |
| 15 Year Cash-out Refi | 5.68% | 9/1/24 |
| 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
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
534Origination Dollar Volume (All Markets)
$52,940,000Awards
AVADIAN - 2022
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For 2022, less than of lenders were eligible for this award.
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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) | 383 | $33,375,000 | $87,141 | $4,661 | 1.95% |
| HUNTSVILLE, AL (FHA|USDA|VA) | 54 | $10,870,000 | $201,296 | $8,047 | 2.57% |
| DOTHAN, AL (FHA|USDA|VA) | 34 | $1,820,000 | $53,529 | $2,995 | 2.10% |
| MOBILE, AL (FHA|USDA|VA) | 11 | $1,145,000 | $104,091 | $2,397 | 2.10% |
| DAPHNE-FAIRHOPE-FOLEY, AL (FHA|USDA|VA) | 5 | $1,055,000 | $211,000 | $3,907 | 3.30% |
| DECATUR, AL (FHA|USDA|VA) | 7 | $755,000 | $107,857 | $5,527 | 3.32% |
| FLORENCE-MUSCLE SHOALS, AL (FHA|USDA|VA) | 3 | $535,000 | $178,333 | $0 | 2.07% |
| AUBURN-OPELIKA, AL (FHA|USDA|VA) | 2 | $510,000 | $255,000 | $3,178 | 2.00% |
| Albertville, AL (FHA|USDA|VA) | 4 | $470,000 | $117,500 | $5,139 | 2.84% |
| Cullman, AL (FHA|USDA|VA) | 3 | $405,000 | $135,000 | $0 | 2.57% |
| Outside of Metro Areas | 6 | $320,000 | $53,333 | $0 | 0.99% |
| Enterprise, AL (FHA|USDA|VA) | 4 | $320,000 | $80,000 | $2,906 | 1.49% |
| MONTGOMERY, AL (FHA|USDA|VA) | 6 | $280,000 | $46,667 | $0 | 1.91% |
| PANAMA CITY, FL (FHA|USDA|VA) | 1 | $205,000 | $205,000 | $4,165 | 3.38% |
| NASHVILLE-DAVIDSON-MURFREESBORO-FRANKLIN, TN (FHA|USDA|VA) | 1 | $195,000 | $195,000 | $4,128 | 3.75% |
| Ozark, AL (FHA|USDA|VA) | 2 | $170,000 | $85,000 | $3,531 | 1.87% |
| GADSDEN, AL (FHA|USDA|VA) | 3 | $135,000 | $45,000 | $0 | 0.99% |
| TUSCALOOSA, AL (FHA|USDA|VA) | 2 | $130,000 | $65,000 | $0 | 0.99% |
| Scottsboro, AL (FHA|USDA|VA) | 1 | $115,000 | $115,000 | $6,859 | 2.75% |
| Jasper, AL (FHA|USDA|VA) | 1 | $75,000 | $75,000 | $0 | 0.99% |
| ANNISTON-OXFORD, AL (FHA|USDA|VA) | 1 | $55,000 | $55,000 | $0 | 0.99% |
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.
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Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| HELOC | 481 | $34,285,000 | $71,279 | n/a | 1.90% |
| Conventional | 46 | $14,290,000 | $310,652 | $4,792 | 3.38% |
| VA | 7 | $4,365,000 | $623,571 | $8,259 | 2.91% |
For 2022, Avadian's most frequently originated type of loan was HELOC, with 481 originations. Their 2nd most popular type was Conventional, with 46 originations.
Loan Reason
For 2022, Avadian's most frequently cited loan purpose was Home Improvement, with 231 originations. The 2nd most popular reason was Other, with 200 originations.
Loan Duration/Length
For 2022, Avadian's most frequently cited loan duration was 30 Year, with 527 originations. The 2nd most popular length was 15 Year, with 5 originations.
Origination Fees/Closing Costs
Avadian's average total fees were $5,644, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 26 originations.
Interest Rates
During 2022, Avadian's average interest rate for loans was 2.02%, while their most frequently originated rate bucket for loans was <2.5%, with 394 originations.
Loan Sizing
2022 saw Avadian place emphasis on $100,000 or less loans with 398 originations, totaling $20,180,000 in origination value.
Applicant Income
Avadian lent most frequently to those with incomes in the $100k-150k range, with 138 originations. The second most popular income band? $50k-75k, with 101 originations.
Applicant Debt to Income Ratio
Avadian lent most frequently to those with DTI ratios of 20-30%, with 164 originations. The next most common DTI ratio? <20%, with 163 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications84.70%
Avadian has a below average approval rate.
Pick Rate
Approvals leading to origination84.08%
Avadian has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 534 | $52,940,000 | $99,139 |