Auburn University Credit Union Mortgage Rates, Fees & Info

Auburn, AL

LEI: 549300GMZQGVLZ5KCW51

Tax ID: 63-0422553

Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data

Jump to:

  • SimulatedRates™
  • Mortgage Calculator

    • Mortgage Data

  • Originations
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • Loan Length
  • Loan to Value Info
  • Debt-to-Income
  • Applicant Income
  • Ethnicity Info
  • Approval & Pick Rates
  • Points and Fees
  • Origination Fees (Closing Costs)

    • 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, Daphne, and Birmingham 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 above average approval rate when compared to the average across all lenders. They have a below average pick rate when compared to similar lenders.

    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 Cash-out Refi 6.40% 11/22/24
    15 Year Conventional Purchase 6.19% 11/22/24
    15 Year Conventional Refi 5.65% 11/22/24
    15 Year Cash-out Refi 5.65% 11/22/24
    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






    Your Estimates

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

    This is not an official calculator from Auburn University 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

    85

    Origination Dollar Volume (All Markets)

    $14,255,000

    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
    AUBURN-OPELIKA, AL (FHA|USDA|VA) 65 $11,585,000 $178,231 $1,983 3.84%
    MONTGOMERY, AL (FHA|USDA|VA) 6 $880,000 $146,667 $1,968 3.19%
    Alexander City, AL (FHA|USDA|VA) 5 $825,000 $165,000 $1,678 3.36%
    DAPHNE-FAIRHOPE-FOLEY, AL (FHA|USDA|VA) 2 $500,000 $250,000 $2,215 4.38%
    Outside of Metro Areas 4 $170,000 $42,500 $1,276 4.05%
    BIRMINGHAM-HOOVER, AL (FHA|USDA|VA) 1 $155,000 $155,000 $2,520 2.95%
    LaGrange, GA-AL (FHA|USDA|VA) 2 $140,000 $70,000 $1,469 4.06%
    Auburn University Credit Union's top markets include Auburn, Montgomery, Alexander City, Daphne, and Birmingham among others.

    Their top states include:
  • Alabama (FHA|USDA|VA)

    • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 58 $10,720,000 $184,828 $1,907 3.66%
    HELOC 27 $3,535,000 $130,926 n/a 4.04%

    For 2020, Auburn University Credit Union's most frequently originated type of loan was Conventional, with 58 originations. Their 2nd most popular type was HELOC, with 27 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Cash Out Refi 45 $7,615,000 $169,222 $1,616 3.64%
    Home Purchase 22 $3,700,000 $168,182 $2,295 4.12%
    Refi 12 $2,060,000 $171,667 $2,406 3.95%
    Other 5 $495,000 $99,000 $0 3.25%
    Home Improvement 1 $385,000 $385,000 $2,078 3.25%

    For 2020, Auburn University Credit Union's most frequently cited loan purpose was Cash Out Refi, with 45 originations. The 2nd most popular reason was Home Purchase, with 22 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    10 Year 34 $3,580,000 $105,294 $1,698 3.50%
    15 Year 20 $3,260,000 $163,000 $1,692 3.87%
    20 Year 20 $5,720,000 $286,000 $2,322 3.64%
    5 Year 8 $1,550,000 $193,750 $1,638 5.18%
    3 Year 2 $120,000 $60,000 $1,185 2.95%
    Other 1 $25,000 $25,000 $1,469 4.87%

    For 2020, Auburn University Credit Union's most frequently cited loan duration was 10 Year, with 34 originations. The 2nd most popular length was 15 Year, with 20 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    3-4% 54 $9,780,000 $181,111
    2.5-3% 11 $1,375,000 $125,000
    4-5% 11 $1,535,000 $139,545
    5-6% 7 $1,455,000 $207,857
    6-7% 2 $110,000 $55,000

    During 2020, Auburn University Credit Union's average interest rate for loans was 0.00%, while their most frequently originated rate bucket for loans was 3-4%, with 54 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 35 $1,865,000 $53,286 $1,370 3.97%
    $100k-200k 26 $3,850,000 $148,077 $1,487 3.52%
    $200k-400k 16 $4,060,000 $253,750 $2,314 3.78%
    $400k-600k 5 $2,235,000 $447,000 $2,554 3.65%
    $600k-1MM 3 $2,245,000 $748,333 $9,874 4.08%

    2020 saw Auburn University Credit Union place emphasis on $100,000 or less loans with 35 originations, totaling $1,865,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 19 $3,105,000 $163,421 $1,857 3.49%
    $150k-250k 19 $3,095,000 $162,895 $1,503 3.66%
    $250k+ 18 $5,070,000 $281,667 $3,768 3.98%
    $75k-100k 8 $530,000 $66,250 $1,110 3.86%
    $50k-75k 6 $780,000 $130,000 $1,696 3.55%
    $50k or less 4 $170,000 $42,500 $1,835 3.85%

    Auburn University Credit Union lent most frequently to those with incomes in the $100k-150k range, with 19 originations. The second most popular income band? $150k-250k, with 19 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 27 $4,285,000 $158,704 $1,692 3.83%
    <20% 25 $4,485,000 $179,400 $2,263 3.67%
    30-36% 8 $1,720,000 $215,000 $1,763 3.49%
    40% 4 $380,000 $95,000 $1,812 3.54%
    43% 3 $435,000 $145,000 $2,761 3.30%
    39% 2 $270,000 $135,000 $1,223 3.10%
    36% 2 $150,000 $75,000 $1,343 4.06%
    38% 1 $145,000 $145,000 $914 3.50%
    44% 1 $85,000 $85,000 $0 6.75%
    50-60% 1 $795,000 $795,000 $0 3.50%

    Auburn University Credit Union lent most frequently to those with DTI ratios of 20-30%, with 27 originations. The next most common DTI ratio? <20%, with 25 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 52 $8,110,000 $155,962 $1,857 3.83%
    Black 14 $2,330,000 $166,429 $1,907 3.36%
    Asian 4 $1,740,000 $435,000 $2,030 3.74%
    Not applicable 11 $1,505,000 $136,818 $1,452 4.20%
    Asian Indian 2 $420,000 $210,000 $2,253 2.95%
    Guamanian 1 $125,000 $125,000 $2,929 3.20%
    American Indian 1 $25,000 $25,000 $0 4.75%

    Approval Rates

    Total approvals of all applications
    96.19%

    Auburn University 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
    85.88%

    Auburn University Credit Union has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 85 $14,255,000 $167,706

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Single Family (1-4 Units):Manufactured 6 $320,000 $53,333
    Single Family (1-4 Units):Site-Built 79 $13,935,000 $176,392

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 11 $1,615,000 $146,818 $1,470 3.72%
    40-60% 9 $665,000 $73,889 $1,560 3.60%
    60-80% 35 $8,575,000 $245,000 $2,156 3.72%
    80-100% 7 $1,825,000 $260,714 $2,475 3.64%
    Under 20% 20 $1,390,000 $69,500 $742 3.96%