Alliance Catholic Credit Union Mortgage Rates, Fees & Info

Southfield, MI

LEI: 549300G12UU2EC2JM932

Tax ID: 38-1628275

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Mortgage Data

Review & Overview

Alliance Catholic Credit Union is a smaller credit union specializing in Home Purchase and Cash Out Refi loans. Alliance Catholic Credit Union has a high proportion of conventional loans. Their top markets by origination volume include: Detroit, Ann Arbor, Flint, Jackson, and Lansing among others. We have data for 7 markets. (Some data included below & more in-depth data is available with an active subscription.)

Alliance Catholic Credit Union 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. Alliance Catholic 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.

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SimulatedRates™

Mortgage Type
Simulated Rate Simulation Date
30 Year Conventional Purchase 6.62% 10/31/24
30 Year Conventional Refi 6.06% 10/31/24
30 Year Cash-out Refi 6.45% 10/31/24
15 Year Conventional Purchase 6.43% 10/31/24
15 Year Conventional Refi 6.12% 10/31/24
15 Year Cash-out Refi 6.12% 10/31/24
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.

Alliance Catholic Credit Union Mortgage Calculator






Your Estimates

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

This is not an official calculator from Alliance Catholic 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

52

Origination Dollar Volume (All Markets)

$10,360,000

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
Detroit-Warren-Dearborn, MI (FHA|USDA|VA) 39 $7,525,000 $192,949 $3,890 4.96%
Outside of Metro Areas 5 $1,095,000 $219,000 $3,578 5.58%
ANN ARBOR, MI (FHA|USDA|VA) 4 $710,000 $177,500 $3,916 3.72%
FLINT, MI (FHA|USDA|VA) 1 $375,000 $375,000 $4,681 5.50%
JACKSON, MI (FHA|USDA|VA) 1 $315,000 $315,000 $5,044 5.75%
LANSING-EAST LANSING, MI (FHA|USDA|VA) 1 $215,000 $215,000 $3,730 4.13%
Adrian, MI (FHA|USDA|VA) 1 $125,000 $125,000 $3,087 6.13%
Alliance Catholic Credit Union's top markets include Detroit, Ann Arbor, Flint, Jackson, and Lansing among others.

Their top states include:
  • Michigan (FHA|USDA|VA)
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    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 52 $10,360,000 $199,231 $3,881 4.96%

    For 2022, Alliance Catholic Credit Union's most frequently originated type of loan was Conventional, with 52 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 36 $7,180,000 $199,444 $3,888 5.22%
    Cash Out Refi 10 $2,120,000 $212,000 $3,869 4.08%
    Refi 5 $515,000 $103,000 $2,690 4.55%
    Other 1 $545,000 $545,000 $9,710 6.50%

    For 2022, Alliance Catholic Credit Union's most frequently cited loan purpose was Home Purchase, with 36 originations. The 2nd most popular reason was Cash Out Refi, with 10 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 42 $7,830,000 $186,429 $3,738 5.06%
    15 Year 7 $1,585,000 $226,429 $3,953 3.93%
    20 Year 2 $400,000 $200,000 $3,626 5.56%
    1 Year 1 $545,000 $545,000 $9,710 6.50%

    For 2022, Alliance Catholic Credit Union's most frequently cited loan duration was 30 Year, with 42 originations. The 2nd most popular length was 15 Year, with 7 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $1k-2k 34 $5,770,000 $169,706
    $<1k 6 $430,000 $71,667
    $2k-3k 4 $1,670,000 $417,500
    $5k+ 3 $1,025,000 $341,667
    $3k-4k 2 $940,000 $470,000
    $4k-5k 1 $255,000 $255,000

    Alliance Catholic Credit Union's average total fees were $3,738, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 34 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    5-6% 23 $4,725,000 $205,435
    3-4% 12 $2,090,000 $174,167
    4-5% 9 $1,995,000 $221,667
    6-7% 4 $870,000 $217,500
    2.5-3% 2 $320,000 $160,000
    7-8% 2 $360,000 $180,000

    During 2022, Alliance Catholic Credit Union's average interest rate for loans was 5.06%, while their most frequently originated rate bucket for loans was 5-6%, with 23 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100k-200k 21 $2,915,000 $138,810 $3,029 4.83%
    $200k-400k 18 $4,610,000 $256,111 $4,536 5.21%
    $100,000 or less 9 $705,000 $78,333 $2,577 4.83%
    $400k-600k 3 $1,415,000 $471,667 $8,548 4.96%
    $600k-1MM 1 $715,000 $715,000 $6,854 4.13%

    2022 saw Alliance Catholic Credit Union place emphasis on $100k-200k loans with 21 originations, totaling $2,915,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 15 $2,435,000 $162,333 $3,423 5.31%
    $100k-150k 14 $3,310,000 $236,429 $4,328 4.92%
    $50k or less 13 $1,545,000 $118,846 $3,169 4.71%
    $150k-250k 5 $1,445,000 $289,000 $5,122 4.43%
    $75k-100k 4 $910,000 $227,500 $3,934 5.44%

    Alliance Catholic Credit Union lent most frequently to those with incomes in the $50k-75k range, with 15 originations. The second most popular income band? $100k-150k, with 14 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 12 $2,310,000 $192,500 $3,423 4.66%
    30-36% 6 $1,210,000 $201,667 $3,538 5.35%
    47% 4 $960,000 $240,000 $5,485 5.81%
    43% 4 $770,000 $192,500 $4,679 5.44%
    41% 3 $425,000 $141,667 $3,750 5.13%
    <20% 3 $455,000 $151,667 $2,889 4.13%
    37% 3 $535,000 $178,333 $2,519 4.63%
    39% 3 $425,000 $141,667 $3,283 5.08%
    40% 3 $715,000 $238,333 $3,933 5.71%
    42% 2 $370,000 $185,000 $3,649 4.75%
    46% 2 $560,000 $280,000 $4,463 4.88%
    49% 2 $450,000 $225,000 $3,524 4.44%
    36% 1 $145,000 $145,000 $2,911 3.00%
    48% 1 $135,000 $135,000 $3,141 3.50%
    >60% 1 $265,000 $265,000 $7,722 5.13%
    45% 1 $85,000 $85,000 $2,616 4.50%
    50-60% 1 $545,000 $545,000 $9,710 6.50%

    Alliance Catholic Credit Union lent most frequently to those with DTI ratios of 20-30%, with 12 originations. The next most common DTI ratio? 30-36%, with 6 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 44 $8,570,000 $194,773 $3,495 4.89%
    Not provided 5 $1,045,000 $209,000 $5,756 5.63%
    Filipino 1 $265,000 $265,000 $7,722 5.13%
    Asian Indian 1 $255,000 $255,000 $6,192 4.00%
    Other Asian 1 $225,000 $225,000 $4,913 5.25%

    Approval Rates

    Total approvals of all applications
    95.70%

    Alliance Catholic Credit Union has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.

    Pick Rate

    Approvals leading to origination
    50.00%

    Alliance Catholic Credit Union has a low pick rate. They may have issues with closing loans or may approve everyone, but with onerous loan terms.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 52 $10,360,000 $199,231

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    52 $10,360,000 $199,231

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 4 $680,000 $170,000 $2,967 3.75%
    40-60% 8 $1,280,000 $160,000 $3,607 5.03%
    60-80% 17 $3,555,000 $209,118 $4,050 4.93%
    80-100% 23 $4,845,000 $210,652 $4,017 5.16%