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, Alexander City, Lagrange, Montgomery, and Daphne among others. We have data for 8 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 an above average pick rate when compared to similar lenders. They typically have about average rates.
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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| 30 Year Cash-out Refi | 6.40% | 5/4/24 |
| 15 Year Conventional Purchase | 6.19% | 5/4/24 |
| 15 Year Conventional Refi | 5.65% | 5/4/24 |
| 15 Year Cash-out Refi | 5.65% | 5/4/24 |
| 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
84Origination Dollar Volume (All Markets)
$14,690,000Top 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) | 66 | $13,040,000 | $197,576 | $0 | 3.67% |
| Outside of Metro Areas | 6 | $560,000 | $93,333 | $0 | 3.22% |
| Alexander City, AL (FHA|USDA|VA) | 3 | $395,000 | $131,667 | $0 | 3.42% |
| LaGrange, GA-AL (FHA|USDA|VA) | 4 | $340,000 | $85,000 | $0 | 4.05% |
| MONTGOMERY, AL (FHA|USDA|VA) | 2 | $190,000 | $95,000 | $0 | 3.10% |
| DAPHNE-FAIRHOPE-FOLEY, AL (FHA|USDA|VA) | 1 | $105,000 | $105,000 | $0 | 3.25% |
| BIRMINGHAM-HOOVER, AL (FHA|USDA|VA) | 1 | $45,000 | $45,000 | $0 | 3.20% |
| TUSCALOOSA, AL (FHA|USDA|VA) | 1 | $15,000 | $15,000 | $0 | 3.45% |
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 62 | $11,850,000 | $191,129 | $0 | 3.56% |
| HELOC | 22 | $2,840,000 | $129,091 | n/a | 3.80% |
For 2021, Auburn University Credit Union's most frequently originated type of loan was Conventional, with 62 originations. Their 2nd most popular type was HELOC, with 22 originations.
Loan Reason
For 2021, Auburn University Credit Union's most frequently cited loan purpose was Cash Out Refi, with 51 originations. The 2nd most popular reason was Home Purchase, with 23 originations.
Loan Duration/Length
For 2021, Auburn University Credit Union's most frequently cited loan duration was 20 Year, with 24 originations. The 2nd most popular length was 10 Year, with 24 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 3-4% | 69 | $12,685,000 | $183,841 |
| 5-6% | 7 | $1,145,000 | $163,571 |
| 2.5-3% | 6 | $620,000 | $103,333 |
| 4-5% | 2 | $240,000 | $120,000 |
During 2021, Auburn University Credit Union's average interest rate for loans was 3.67%, while their most frequently originated rate bucket for loans was 3-4%, with 69 originations.
Loan Sizing
2021 saw Auburn University Credit Union place emphasis on $100k-200k loans with 33 originations, totaling $4,575,000 in origination value.
Applicant Income
Auburn University Credit Union lent most frequently to those with incomes in the $100k-150k range, with 15 originations. The second most popular income band? $50k or less, with 14 originations.
Applicant Debt to Income Ratio
Auburn University Credit Union lent most frequently to those with DTI ratios of 30-36%, with 16 originations. The next most common DTI ratio? <20%, with 15 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications95.19%
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 origination90.48%
Auburn University Credit Union has an average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 84 | $14,690,000 | $174,881 |