Alliance Catholic Credit Union Mortgage Rates, Fees & Info
Southfield, MILEI: 549300G12UU2EC2JM932
Tax ID: 38-1628275
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Mortgage Data
Review & Overview
Alliance Catholic Credit Union is a smaller credit union specializing in Refi loans. Alliance Catholic Credit Union has a high proportion of conventional loans. Their top markets by origination volume include: Detroit, Ann Arbor, Flint, Adrian, and Jacksonville among others. We have data for 9 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.
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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| 30 Year Conventional Purchase | 6.62% | 4/28/24 |
| 30 Year Conventional Refi | 6.06% | 4/28/24 |
| 30 Year Cash-out Refi | 6.45% | 4/28/24 |
| 15 Year Conventional Purchase | 6.43% | 4/28/24 |
| 15 Year Conventional Refi | 6.12% | 4/28/24 |
| 15 Year Cash-out Refi | 6.12% | 4/28/24 |
| 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
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
184Origination Dollar Volume (All Markets)
$28,810,000Top 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) | 166 | $25,810,000 | $155,482 | $2,754 | 3.11% |
| Outside of Metro Areas | 10 | $1,520,000 | $152,000 | $2,595 | 3.09% |
| ANN ARBOR, MI (FHA|USDA|VA) | 1 | $345,000 | $345,000 | $8,198 | 3.00% |
| FLINT, MI (FHA|USDA|VA) | 2 | $310,000 | $155,000 | $3,077 | 2.75% |
| Adrian, MI (FHA|USDA|VA) | 1 | $225,000 | $225,000 | $3,188 | 3.13% |
| JACKSONVILLE, FL (FHA|USDA|VA) | 1 | $195,000 | $195,000 | $3,200 | 3.25% |
| PUNTA GORDA, FL (FHA|USDA|VA) | 1 | $185,000 | $185,000 | $3,227 | 3.00% |
| JACKSON, MI (FHA|USDA|VA) | 1 | $135,000 | $135,000 | $2,892 | 2.88% |
| MONROE, MI (FHA|USDA|VA) | 1 | $85,000 | $85,000 | $2,170 | 3.00% |
Similar Lenders
We use machine learning to identify the top lenders compared against ALLIANCE CATHOLIC CREDIT UNION 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 |
|---|---|---|---|---|---|
| Conventional | 182 | $28,470,000 | $156,429 | $2,742 | 3.10% |
| VA | 2 | $340,000 | $170,000 | $6,553 | 3.25% |
For 2020, Alliance Catholic Credit Union's most frequently originated type of loan was Conventional, with 182 originations. Their 2nd most popular type was VA, with 2 originations.
Loan Reason
For 2020, Alliance Catholic Credit Union's most frequently cited loan purpose was Refi, with 156 originations. The 2nd most popular reason was Home Purchase, with 25 originations.
Loan Duration/Length
For 2020, Alliance Catholic Credit Union's most frequently cited loan duration was 30 Year, with 104 originations. The 2nd most popular length was 15 Year, with 52 originations.
Origination Fees/Closing Costs
Alliance Catholic Credit Union's average total fees were $3,020, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 114 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 2.5-3% | 81 | $12,335,000 | $152,284 |
| 3-4% | 72 | $12,790,000 | $177,639 |
| <2.5% | 22 | $2,690,000 | $122,273 |
| 4-5% | 7 | $735,000 | $105,000 |
| 5-6% | 2 | $260,000 | $130,000 |
During 2020, Alliance Catholic Credit Union's average interest rate for loans was 3.34%, while their most frequently originated rate bucket for loans was 2.5-3%, with 81 originations.
Loan Sizing
2020 saw Alliance Catholic Credit Union place emphasis on $100k-200k loans with 99 originations, totaling $13,905,000 in origination value.
Applicant Income
Alliance Catholic Credit Union lent most frequently to those with incomes in the $50k-75k range, with 45 originations. The second most popular income band? $100k-150k, with 43 originations.
Applicant Debt to Income Ratio
Alliance Catholic Credit Union lent most frequently to those with DTI ratios of 20-30%, with 66 originations. The next most common DTI ratio? <20%, with 34 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications90.42%
Alliance Catholic Credit Union has an average approval rate.
Pick Rate
Approvals leading to origination63.04%
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 | 184 | $28,810,000 | $156,576 |
Occupancy Type Mix
| Dwelling Type | Originations | Total Value | Average Loan |
|---|---|---|---|
| Single Family (1-4 Units):Site-Built | 184 | $28,810,000 | $156,576 |
LTV Distribution
Complaints
| Bank Name | Product | Issue | 2020 CPFB Complaints | % of Total Issues |
|---|---|---|---|---|
| Alliance Data Card Services | Other type of mortgage | Closing on a mortgage | 2 | 66.7% |
| Alliance Data Card Services | Other type of mortgage | Problem with a credit reporting company's investigation into an existing problem | 1 | 33.3% |