Alliance Catholic Credit Union Mortgage Rates, Fees & Info
Southfield, MILEI: 549300G12UU2EC2JM932
Tax ID: 38-1628275
Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data
Jump to:
Mortgage Data
Review & Overview
Alliance Catholic Credit Union is a smaller credit union specializing in Refi and Home Purchase loans. Alliance Catholic Credit Union has a high proportion of conventional loans. Their top markets by origination volume include: Detroit, Monroe, Grand Rapids, Lansing, and Traverse City 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 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.
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 |
|---|---|---|
| 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
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
98Origination Dollar Volume (All Markets)
$14,620,000Top 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) | 89 | $13,505,000 | $151,742 | $2,855 | 2.86% |
| MONROE, MI (FHA|USDA|VA) | 2 | $310,000 | $155,000 | $3,465 | 3.19% |
| Outside of Metro Areas | 2 | $210,000 | $105,000 | $2,659 | 2.88% |
| GRAND RAPIDS-KENTWOOD, MI (FHA|USDA|VA) | 1 | $195,000 | $195,000 | $3,542 | 3.50% |
| LANSING-EAST LANSING, MI (FHA|USDA|VA) | 2 | $180,000 | $90,000 | $2,236 | 2.81% |
| Traverse City, MI (FHA|USDA|VA) | 1 | $135,000 | $135,000 | $2,903 | 3.13% |
| FLINT, MI (FHA|USDA|VA) | 1 | $85,000 | $85,000 | $2,707 | 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.
Similarity Rank: 212
Similarity Rank: 304
Similarity Rank: 618
Similarity Rank: 1024
Similarity Rank: 1078
Similarity Rank: 1080
Similarity Rank: 1305
Similarity Rank: 1394
Similarity Rank: 1603
Similarity Rank: 2000
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 98 | $14,620,000 | $149,184 | $2,857 | 2.88% |
For 2021, Alliance Catholic Credit Union's most frequently originated type of loan was Conventional, with 98 originations.
Loan Reason
| Loan Reason | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Refi | 76 | $10,720,000 | $141,053 | $2,696 | 2.75% |
| Home Purchase | 22 | $3,900,000 | $177,273 | $3,406 | 3.31% |
For 2021, Alliance Catholic Credit Union's most frequently cited loan purpose was Refi, with 76 originations. The 2nd most popular reason was Home Purchase, with 22 originations.
Loan Duration/Length
For 2021, Alliance Catholic Credit Union's most frequently cited loan duration was 30 Year, with 48 originations. The 2nd most popular length was 15 Year, with 43 originations.
Origination Fees/Closing Costs
| Origination Fee/Closing Cost | Originations | Total Value | Average Loan |
|---|---|---|---|
| $1k-2k | 65 | $9,965,000 | $153,308 |
| $<1k | 18 | $1,270,000 | $70,556 |
| $2k-3k | 13 | $2,965,000 | $228,077 |
| $4k-5k | 1 | $295,000 | $295,000 |
Alliance Catholic Credit Union's average total fees were $3,027, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 65 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 3-4% | 40 | $6,670,000 | $166,750 |
| <2.5% | 29 | $4,205,000 | $145,000 |
| 2.5-3% | 29 | $3,745,000 | $129,138 |
During 2021, Alliance Catholic Credit Union's average interest rate for loans was 3.26%, while their most frequently originated rate bucket for loans was 3-4%, with 40 originations.
Loan Sizing
2021 saw Alliance Catholic Credit Union place emphasis on $100k-200k loans with 44 originations, totaling $6,020,000 in origination value.
Applicant Income
Alliance Catholic Credit Union lent most frequently to those with incomes in the $50k-75k range, with 25 originations. The second most popular income band? $100k-150k, with 22 originations.
Applicant Debt to Income Ratio
Alliance Catholic Credit Union lent most frequently to those with DTI ratios of 20-30%, with 29 originations. The next most common DTI ratio? <20%, with 20 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications89.81%
Alliance Catholic Credit Union has an average approval rate.
Pick Rate
Approvals leading to origination53.06%
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 | 98 | $14,620,000 | $149,184 |
LTV Distribution
Complaints
| Bank Name | Product | Issue | 2021 CPFB Complaints | % of Total Issues |
|---|---|---|---|---|
| Alliance Data Card Services | Conventional home mortgage | Applying for a mortgage or refinancing an existing mortgage | 1 | 50.0% |
| Alliance Data Card Services | Other type of mortgage | Trouble during payment process | 1 | 50.0% |