Alliance Credit Union Mortgage Rates, Fees & Info

Fenton, MO

LEI: 549300TN0HZ349E7ZH34

Tax ID: 43-0658202

5 stars - Updated: 10/29/24 - out of 5 stars, based on 14 reviews

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

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Mortgage Data

Review & Overview

Alliance Credit Union is a smaller credit union specializing in Cash Out Refi and Home Purchase loans. Alliance Credit Union has a high proportion of conventional loans. Their top markets by origination volume include: St. Louis, Cape Girardeau, and Branson among others. We have data for 4 markets. (Some data included below & more in-depth data is available with an active subscription.)

Alliance 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. Alliance Credit Union is typically an average 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 relatively high 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) 6.53% 10/29/24
30 Year Conventional Purchase 6.99% 10/29/24
30 Year Conventional Refi 6.83% 10/29/24
30 Year Cash-out Refi 6.92% 10/29/24
15 Year Conventional Purchase 5.90% 10/29/24
15 Year Conventional Refi 6.09% 10/29/24
15 Year Cash-out Refi 6.09% 10/29/24
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.

Alliance Credit Union Mortgage Calculator






Your Estimates

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

This is not an official calculator from Alliance 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

189

Origination Dollar Volume (All Markets)

$46,145,000

Awards

ALLIANCE CREDIT UNION 30 Year Conventional Loans silver
Show all (1) awards

Relative Rate

Alliance Credit Union's average 30 year fixed mortgage rate was 6.38%.

The 2023 average 30 year fixed rate mortgage across all markets and lenders was 6.48%.

This yields a difference of -0.1%.

Relative Fees (Closing Costs)

Alliance Credit Union's average total fees/closing costs for a 30 year fixed rate mortgage were $5,190.

The average total origination fees for 30 year fixed rate mortgages across all lenders (for all loan values, including both points & up-front fees in addition to origination fees) were $9,089.

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
ST. LOUIS, MO-IL (FHA|USDA|VA) 185 $45,295,000 $244,838 $3,094 7.28%
Outside of Metro Areas 2 $450,000 $225,000 $3,990 6.63%
CAPE GIRARDEAU, MO-IL (FHA|USDA|VA) 1 $205,000 $205,000 $4,992 6.75%
Branson, MO (FHA|USDA|VA) 1 $195,000 $195,000 $0 7.88%
Alliance Credit Union's top markets include St. Louis, Cape Girardeau, and Branson among others.

Their top states include:
  • Missouri (FHA|USDA|VA)
  • Illinois (FHA|USDA|VA)
  • Similar Lenders

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

    1ST MIDAMERICA
    Similarity Rank: 286
    CNB Bank And Trust, N.A.
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    FIRST COMMUNITY
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    ALLIANCE CREDIT UNION
    Similarity Rank: 520
    ALLTRU Federal Credit Union
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    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 189 $46,145,000 $244,153 $3,114 7.28%

    For 2023, Alliance Credit Union's most frequently originated type of loan was Conventional, with 189 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Cash Out Refi 85 $12,755,000 $150,059 $1,567 7.73%
    Home Purchase 82 $31,240,000 $380,976 $5,409 6.44%
    Refi 22 $2,150,000 $97,727 $1,024 8.62%

    For 2023, Alliance Credit Union's most frequently cited loan purpose was Cash Out Refi, with 85 originations. The 2nd most popular reason was Home Purchase, with 82 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 100 $39,560,000 $395,600 $5,190 6.38%
    20 Year 54 $3,640,000 $67,407 $493 8.28%
    15 Year 16 $1,620,000 $101,250 $1,043 8.30%
    5 Year 11 $995,000 $90,455 $408 7.83%
    10 Year 8 $330,000 $41,250 $621 8.83%

    For 2023, Alliance Credit Union's most frequently cited loan duration was 30 Year, with 100 originations. The 2nd most popular length was 20 Year, with 54 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 94 $36,480,000 $388,085

    Alliance Credit Union's average total fees were $5,190, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 94 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    Over 8% 57 $4,365,000 $76,579
    6-7% 51 $18,435,000 $361,471
    7-8% 40 $5,550,000 $138,750
    5-6% 38 $15,550,000 $409,211
    4-5% 3 $2,245,000 $748,333

    During 2023, Alliance Credit Union's average interest rate for loans was 6.38%, while their most frequently originated rate bucket for loans was Over 8%, with 57 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 71 $3,775,000 $53,169 $603 8.29%
    $100k-200k 46 $6,650,000 $144,565 $2,619 7.23%
    $200k-400k 39 $11,025,000 $282,692 $3,994 6.40%
    $400k-600k 20 $9,920,000 $496,000 $7,152 6.30%
    $600k-1MM 7 $4,845,000 $692,143 $10,117 6.04%
    $1MM+ 6 $9,930,000 $1,655,000 $9,031 5.96%

    2023 saw Alliance Credit Union place emphasis on $100,000 or less loans with 71 originations, totaling $3,775,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $150k-250k 45 $11,035,000 $245,222 $3,579 7.31%
    $100k-150k 44 $10,050,000 $228,409 $3,304 7.26%
    $75k-100k 32 $4,210,000 $131,563 $1,864 7.42%
    $50k-75k 27 $3,025,000 $112,037 $1,673 7.46%
    $250k+ 25 $16,145,000 $645,800 $6,489 6.92%
    $50k or less 16 $1,680,000 $105,000 $2,160 7.19%

    Alliance Credit Union lent most frequently to those with incomes in the $150k-250k range, with 45 originations. The second most popular income band? $100k-150k, with 44 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 45 $10,515,000 $233,667 $3,377 7.05%
    30-36% 32 $10,120,000 $316,250 $4,039 7.16%
    <20% 19 $4,665,000 $245,526 $3,370 6.80%
    50-60% 14 $4,820,000 $344,286 $3,818 7.08%
    36% 9 $2,285,000 $253,889 $834 7.72%
    49% 8 $1,260,000 $157,500 $2,294 7.19%
    Exempt% 7 $995,000 $142,143 $817 7.95%
    40% 7 $735,000 $105,000 $1,940 7.57%
    44% 7 $2,885,000 $412,143 $3,120 6.91%
    38% 6 $480,000 $80,000 $820 8.48%
    43% 6 $2,040,000 $340,000 $5,504 7.08%
    42% 6 $450,000 $75,000 $778 8.21%
    45% 5 $1,835,000 $367,000 $3,864 7.00%
    41% 4 $600,000 $150,000 $2,649 9.03%
    >60% 4 $960,000 $240,000 $2,586 6.63%
    39% 3 $565,000 $188,333 $3,290 7.83%
    47% 3 $255,000 $85,000 $2,082 7.21%
    37% 2 $460,000 $230,000 $2,649 7.50%
    48% 1 $75,000 $75,000 $529 9.25%
    46% 1 $145,000 $145,000 $3,323 6.75%

    Alliance Credit Union lent most frequently to those with DTI ratios of 20-30%, with 45 originations. The next most common DTI ratio? 30-36%, with 32 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 135 $27,785,000 $205,815 $2,619 7.34%
    Asian 29 $15,385,000 $530,517 $6,589 6.43%
    Black 15 $1,295,000 $86,333 $863 8.12%
    Not applicable 6 $800,000 $133,333 $817 7.96%
    Not provided 3 $445,000 $148,333 $2,751 7.46%
    Asian Indian 1 $435,000 $435,000 $8,930 5.88%

    Approval Rates

    Total approvals of all applications
    96.85%

    Alliance 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
    86.77%

    Alliance Credit Union has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 189 $46,145,000 $244,153

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    189 $46,145,000 $244,153

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 40 $4,840,000 $121,000 $877 8.31%
    40-60% 17 $3,565,000 $209,706 $3,330 6.55%
    60-80% 46 $14,250,000 $309,783 $4,794 6.61%
    80-100% 47 $21,605,000 $459,681 $5,718 6.41%
    Under 20% 39 $1,885,000 $48,333 $476 8.37%