Abnb Federal Credit Union Mortgage Rates, Fees & Info

Chesapeake, VA

LEI: 549300OOBQV34V3WL383

Tax ID: 54-0699296

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
  • Similar Lenders
  • 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

    Abnb Federal Credit Union is a smaller credit union specializing in Cash Out Refi and Refi loans. Abnb Federal Credit Union has a high proportion of conventional loans. Their top (well, only) market is Virginia Beach.

    Abnb Federal 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. Abnb Federal 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
    Home Equity Line of Credit (HELOC) 6.27% 12/16/24
    30 Year Conventional Purchase 5.76% 12/16/24
    30 Year Conventional Refi 6.36% 12/16/24
    15 Year Conventional Purchase 5.85% 12/16/24
    15 Year Conventional Refi 6.00% 12/16/24
    15 Year Cash-out Refi 6.00% 12/16/24
    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.

    Abnb Federal Credit Union Mortgage Calculator






    Your Estimates

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

    This is not an official calculator from Abnb Federal 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

    322

    Origination Dollar Volume (All Markets)

    $28,090,000

    Awards

    ABNB Federal Credit Union 30 Year Conventional Loans gold ABNB Federal Credit Union 30 Year Conventional Loans silver ABNB Federal Credit Union 30 Year Conventional Loans silver ABNB Federal Credit Union 30 Year Conventional Loans bronze
    Show all (4) awards

    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
    VIRGINIA BEACH-NORFOLK-NEWPORT NEWS, VA-NC (FHA|USDA|VA) 293 $25,265,000 $86,229 $1,435 4.77%
    Outside of Metro Areas 29 $2,825,000 $97,414 $2,720 4.85%
    Abnb Federal Credit Union's top markets include and Virginia Beach among others.

    Their top states include:
  • Virginia (FHA|USDA|VA)
  • North Carolina (FHA|USDA|VA)

    • Similar Lenders

    We use machine learning to identify the top lenders compared against ABNB Federal Credit Union based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.

    ABNB Federal Credit Union
    Similarity Rank: 40
    BEACH MUNICIPAL FEDERAL CREDIT UNION
    Similarity Rank: 123
    NEWPORT NEWS SHIPBUILDING EMPLOYEES
    Similarity Rank: 147
    DRAGAS MORTGAGE COMPANY
    Similarity Rank: 666
    Virginia Credit Union, Inc.
    Similarity Rank: 750
    Virginia Commonwealth Bank
    Similarity Rank: 760
    JOHNSON MORTGAGE COMPANY, L.L.C.
    Similarity Rank: 1015
    CAPITAL CENTER, L.L.C.
    Similarity Rank: 1352
    SimonTowne Mortgage, LLc
    Similarity Rank: 1362
    LANGLEY
    Similarity Rank: 1700

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 174 $19,740,000 $113,448 $1,516 4.58%
    HELOC 148 $8,350,000 $56,419 n/a 5.02%

    For 2018, Abnb Federal Credit Union's most frequently originated type of loan was Conventional, with 174 originations. Their 2nd most popular type was HELOC, with 148 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Cash Out Refi 119 $6,455,000 $54,244 $361 4.82%
    Home Improvement 103 $5,225,000 $50,728 $196 4.92%
    Refi 70 $11,460,000 $163,714 $1,790 4.53%
    Home Purchase 20 $4,420,000 $221,000 $2,526 4.43%
    Other 10 $530,000 $53,000 $1,064 5.31%

    For 2018, Abnb Federal Credit Union's most frequently cited loan purpose was Cash Out Refi, with 119 originations. The 2nd most popular reason was Home Improvement, with 103 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    20 Year 154 $10,180,000 $66,104 $2,216 4.97%
    10 Year 56 $3,350,000 $59,821 $379 5.26%
    5 Year 47 $2,095,000 $44,574 $144 3.72%
    30 Year 38 $10,030,000 $263,947 $2,447 4.49%
    15 Year 20 $2,150,000 $107,500 $1,594 4.95%
    Other 5 $225,000 $45,000 $101 5.86%
    3 Year 2 $60,000 $30,000 $801 2.89%

    For 2018, Abnb Federal Credit Union's most frequently cited loan duration was 20 Year, with 154 originations. The 2nd most popular length was 10 Year, with 56 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 97 $15,775,000 $162,629

    Abnb Federal Credit Union's average total fees were $2,447, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 97 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    4-5% 167 $16,625,000 $99,551
    5-6% 82 $4,560,000 $55,610
    3-4% 26 $4,660,000 $179,231
    2.5-3% 24 $1,240,000 $51,667
    6-7% 22 $970,000 $44,091
    7-8% 1 $35,000 $35,000

    During 2018, Abnb Federal Credit Union's average interest rate for loans was 4.49%, while their most frequently originated rate bucket for loans was 4-5%, with 167 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 248 $11,600,000 $46,774 $472 4.88%
    $100k-200k 45 $5,905,000 $131,222 $1,986 4.50%
    $200k-400k 23 $6,205,000 $269,783 $2,583 4.39%
    $400k-600k 3 $1,495,000 $498,333 $2,604 4.50%
    $600k-1MM 2 $1,360,000 $680,000 $2,851 4.44%
    $1MM+ 1 $1,525,000 $1,525,000 $5,065 4.00%

    2018 saw Abnb Federal Credit Union place emphasis on $100,000 or less loans with 248 originations, totaling $11,600,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 52 $3,360,000 $64,615 $1,519 4.92%
    $50k or less 49 $3,385,000 $69,082 $1,832 4.75%
    $100k-150k 45 $3,535,000 $78,556 $1,604 4.86%
    $75k-100k 42 $3,960,000 $94,286 $2,184 4.56%
    $150k-250k 21 $2,155,000 $102,619 $1,358 4.87%
    $250k+ 8 $2,760,000 $345,000 $3,561 4.55%

    Abnb Federal Credit Union lent most frequently to those with incomes in the $50k-75k range, with 52 originations. The second most popular income band? $50k or less, with 49 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    <20% 16 $990,000 $61,875 $2,046 4.85%
    20-30% 3 $195,000 $65,000 $0 4.05%
    30-36% 1 $105,000 $105,000 $1,906 3.63%
    40% 1 $105,000 $105,000 $2,679 3.75%
    43% 1 $185,000 $185,000 $2,459 4.50%

    Abnb Federal Credit Union lent most frequently to those with DTI ratios of <20%, with 16 originations. The next most common DTI ratio? 20-30%, with 3 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 231 $21,505,000 $93,095 $1,611 4.76%
    Black 40 $3,110,000 $77,750 $1,631 4.80%
    Asian 18 $1,770,000 $98,333 $1,617 4.76%
    Not provided 31 $1,615,000 $52,097 $299 4.95%
    Native Hawaiian or Islander 1 $55,000 $55,000 $101 4.29%
    American Indian 1 $35,000 $35,000 $0 2.89%

    Approval Rates

    Total approvals of all applications
    100.00%

    Abnb Federal 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
    99.69%

    Abnb Federal Credit Union has an exceptionally high pick rate. They most likely have borrower friendly terms or other characteristics like being fast to close or are easy to work with.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 322 $28,090,000 $87,236

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Single Family (1-4 Units):Site-Built 322 $28,090,000 $87,236

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 7 $595,000 $85,000 $2,293 4.25%
    40-60% 1 $205,000 $205,000 $0 4.50%
    60-80% 3 $415,000 $138,333 $2,253 4.21%
    Under 20% 11 $365,000 $33,182 $0 4.97%