Auburn University Credit Union Mortgage Rates, Fees & Info
Auburn, ALLEI: 549300GMZQGVLZ5KCW51
Tax ID: 63-0422553
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Mortgage Data
Review & Overview
Auburn University Credit Union is a smaller credit union specializing in Cash Out Refi and Home Purchase loans. Auburn University Credit Union has a high proportion of conventional loans. Their top markets by origination volume include: Auburn, Montgomery, Alexander City, Birmingham, and Enterprise among others. We have data for 7 markets. (Some data included below & more in-depth data is available with an active subscription.)Auburn University Credit Union has an average approval rate when compared to the average across all lenders. They have an average pick rate when compared to similar lenders.
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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| 30 Year Cash-out Refi | 6.40% | 4/21/24 |
| 15 Year Conventional Purchase | 6.19% | 4/21/24 |
| 15 Year Conventional Refi | 5.65% | 4/21/24 |
| 15 Year Cash-out Refi | 5.65% | 4/21/24 |
| 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. | ||
Auburn University 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
65Origination Dollar Volume (All Markets)
$7,495,000Top 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 |
|---|---|---|---|---|---|
| AUBURN-OPELIKA, AL (FHA|USDA|VA) | 50 | $6,140,000 | $122,800 | $0 | 6.39% |
| MONTGOMERY, AL (FHA|USDA|VA) | 6 | $440,000 | $73,333 | $0 | 7.25% |
| Outside of Metro Areas | 3 | $385,000 | $128,333 | $0 | 6.42% |
| Alexander City, AL (FHA|USDA|VA) | 2 | $190,000 | $95,000 | $0 | 6.75% |
| BIRMINGHAM-HOOVER, AL (FHA|USDA|VA) | 2 | $160,000 | $80,000 | $0 | 6.63% |
| Enterprise, AL (FHA|USDA|VA) | 1 | $115,000 | $115,000 | $0 | 6.25% |
| DOTHAN, AL (FHA|USDA|VA) | 1 | $65,000 | $65,000 | $0 | 5.50% |
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 33 | $4,815,000 | $145,909 | $0 | 6.78% |
| HELOC | 32 | $2,680,000 | $83,750 | n/a | 6.16% |
For 2023, Auburn University Credit Union's most frequently originated type of loan was Conventional, with 33 originations. Their 2nd most popular type was HELOC, with 32 originations.
Loan Reason
For 2023, Auburn University Credit Union's most frequently cited loan purpose was Cash Out Refi, with 43 originations. The 2nd most popular reason was Home Purchase, with 11 originations.
Loan Duration/Length
For 2023, Auburn University Credit Union's most frequently cited loan duration was 10 Year, with 29 originations. The 2nd most popular length was 20 Year, with 16 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 6-7% | 31 | $3,185,000 | $102,742 |
| 4-5% | 13 | $895,000 | $68,846 |
| 5-6% | 8 | $1,550,000 | $193,750 |
| Over 8% | 7 | $975,000 | $139,286 |
| 7-8% | 6 | $890,000 | $148,333 |
During 2023, Auburn University Credit Union's average interest rate for loans was 0.00%, while their most frequently originated rate bucket for loans was 6-7%, with 31 originations.
Loan Sizing
2023 saw Auburn University Credit Union place emphasis on $100,000 or less loans with 38 originations, totaling $2,250,000 in origination value.
Applicant Income
Auburn University Credit Union lent most frequently to those with incomes in the $150k-250k range, with 13 originations. The second most popular income band? $100k-150k, with 12 originations.
Applicant Debt to Income Ratio
Auburn University Credit Union lent most frequently to those with DTI ratios of 20-30%, with 13 originations. The next most common DTI ratio? 30-36%, with 12 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications83.52%
Auburn University Credit Union has a below average approval rate.
Pick Rate
Approvals leading to origination90.77%
Auburn University Credit Union has an average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 65 | $7,495,000 | $115,308 |