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 markets by origination volume include: Virginia Beach, Elizabeth City, Kill Devil Hills, and Richmond among others. We have data for 5 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Abnb Federal Credit Union has an above average approval rate when compared to the average across all 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.

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    SimulatedRates™

    Mortgage Type     		Simulated Rate Simulation Date
    Home Equity Line of Credit (HELOC) 6.27% 5/4/24
    30 Year Conventional Purchase 5.76% 5/4/24
    30 Year Conventional Refi 6.36% 5/4/24
    15 Year Conventional Purchase 5.85% 5/4/24
    15 Year Conventional Refi 6.00% 5/4/24
    15 Year Cash-out Refi 6.00% 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.

    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

    470

    Origination Dollar Volume (All Markets)

    $43,840,000
    Show all (5) 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) 427 $39,525,000 $92,564 $1,615 5.29%
    Outside of Metro Areas 34 $3,790,000 $111,471 $2,324 4.90%
    Elizabeth City, NC (FHA|USDA|VA) 7 $375,000 $53,571 $2,420 5.21%
    Kill Devil Hills, NC (FHA|USDA|VA) 1 $85,000 $85,000 $0 6.24%
    RICHMOND, VA (FHA|USDA|VA) 1 $65,000 $65,000 $0 6.24%
    Abnb Federal Credit Union's top markets include Virginia Beach, Elizabeth City, Kill Devil Hills, and Richmond 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: 75
    BEACH MUNICIPAL FEDERAL CREDIT UNION
    Similarity Rank: 160
    CHARTWAY FEDERAL CREDIT UNION
    Similarity Rank: 517
    NEWPORT NEWS SHIPBUILDING EMPLOYEES
    Similarity Rank: 530
    LANGLEY
    Similarity Rank: 600
    Southern Bank and Trust Company
    Similarity Rank: 825
    Virginia Credit Union, Inc.
    Similarity Rank: 832
    1ST ADVANTAGE FEDERAL CREDIT UNION
    Similarity Rank: 861
    DRAGAS MORTGAGE COMPANY
    Similarity Rank: 888
    CAPITAL CENTER, L.L.C.
    Similarity Rank: 1456

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    HELOC 301 $16,105,000 $53,505 n/a 5.87%
    Conventional 169 $27,735,000 $164,112 $1,689 4.19%

    For 2019, Abnb Federal Credit Union's most frequently originated type of loan was HELOC, with 301 originations. Their 2nd most popular type was Conventional, with 169 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Cash Out Refi 217 $11,035,000 $50,853 $275 5.73%
    Home Improvement 129 $7,465,000 $57,868 $143 5.67%
    Refi 77 $16,725,000 $217,208 $2,173 3.97%
    Home Purchase 40 $8,380,000 $209,500 $2,560 3.89%
    Other 7 $235,000 $33,571 $101 5.29%

    For 2019, Abnb Federal Credit Union's most frequently cited loan purpose was Cash Out Refi, with 217 originations. The 2nd most popular reason was Home Improvement, with 129 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 221 $11,575,000 $52,376 $353 5.88%
    20 Year 90 $6,210,000 $69,000 $2,188 5.61%
    30 Year 84 $19,650,000 $233,929 $2,398 3.98%
    15 Year 27 $4,045,000 $149,815 $1,950 4.06%
    10 Year 24 $1,320,000 $55,000 $219 5.27%
    5 Year 24 $1,040,000 $43,333 $131 4.06%

    For 2019, Abnb Federal Credit Union's most frequently cited loan duration was Other, with 221 originations. The 2nd most popular length was 20 Year, with 90 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 169 $27,735,000 $164,112

    Abnb Federal Credit Union's average total fees were $2,398, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 169 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    5-6% 209 $11,865,000 $56,770
    6-7% 107 $4,645,000 $43,411
    3-4% 80 $15,830,000 $197,875
    4-5% 66 $11,040,000 $167,273
    2.5-3% 6 $370,000 $61,667
    7-8% 2 $90,000 $45,000

    During 2019, Abnb Federal Credit Union's average interest rate for loans was 3.98%, while their most frequently originated rate bucket for loans was 5-6%, with 209 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 337 $15,375,000 $45,623 $497 5.66%
    $100k-200k 72 $10,710,000 $148,750 $2,161 4.43%
    $200k-400k 54 $14,010,000 $259,444 $2,389 4.00%
    $400k-600k 6 $3,120,000 $520,000 $2,891 4.06%
    $600k-1MM 1 $625,000 $625,000 $3,762 4.25%

    2019 saw Abnb Federal Credit Union place emphasis on $100,000 or less loans with 337 originations, totaling $15,375,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 44 $3,780,000 $85,909 $1,786 5.41%
    $50k-75k 35 $3,195,000 $91,286 $2,308 5.09%
    $50k or less 33 $2,055,000 $62,273 $1,262 5.34%
    $75k-100k 33 $2,625,000 $79,545 $1,443 5.16%
    $150k-250k 26 $3,580,000 $137,692 $2,520 5.23%
    $250k+ 5 $845,000 $169,000 $1,731 5.09%

    Abnb Federal Credit Union lent most frequently to those with incomes in the $100k-150k range, with 44 originations. The second most popular income band? $50k-75k, with 35 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 285 $28,505,000 $100,018 $1,786 5.14%
    Black 85 $8,485,000 $99,824 $1,873 5.36%
    Not provided 68 $3,650,000 $53,676 $171 5.63%
    Asian 25 $2,595,000 $103,800 $1,484 5.32%
    American Indian 4 $360,000 $90,000 $2,208 5.43%
    Not applicable 1 $145,000 $145,000 $1,999 3.63%
    Native Hawaiian or Islander 2 $100,000 $50,000 $106 5.34%

    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

    Points and Fees

    Points Originations Total Value Average Loan
    NA 470 $43,840,000 $93,277

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Single Family (1-4 Units):Site-Built 470 $43,840,000 $93,277