Allegacy Federal Credit Union Mortgage Rates, Fees & Info

Winston-Salem, NC

LEI: 549300TQWW6MLVH6KY61

Tax ID: 56-6087383

5 stars - out of 5 stars, based on 54 reviews

2021 Data | 2020 Data | 2019 Data | 2018 Data


Overview

Allegacy Federal Credit Union is a smaller credit union specializing in Refi loans. Allegacy Federal Credit Union has a high proportion of conventional loans. Their top markets include Winston, Charlotte, Greensboro, Atlanta, and Raleigh among others. Allegacy Federal Credit Union has an average approval rate for mortages when compared nationally. They have a below average pick rate when compared to the same sample of other lendors. Allegacy Federal Credit Union is typically an average fee lendor.


Originations

2,953

Origination Dollar Volume (All Markets)

$377,235,000

Relative Rate

Allegacy Federal Credit Union's average 30 year fixed rate mortgage of loans were 2.31%.

The 2021 average 30 year fixed rate mortgage across all markets of loans were 3.15%.

This yields a difference of -0.84%.

Relative Fees

Allegacy Federal Credit Union's average total fees for a 30 year fixed rate mortgage are $4,264.

The average total origination fees for 30 year fixed rate mortgages (for all loan values, including both points & up-front fees in addition to origination fees) are $4,750.

Top Markets

Market Originations Total Value Average Loan Average Fees Average Rate
WINSTON-SALEM, NC (FHA|USDA|VA) 1,640 $191,060,000 $116,500 $1,280 2.47%
CHARLOTTE-CONCORD-GASTONIA, NC-SC (FHA|USDA|VA) 369 $58,335,000 $158,089 $2,522 2.40%
GREENSBORO-HIGH POINT, NC (FHA|USDA|VA) 285 $39,335,000 $138,018 $1,691 2.50%
ATLANTA-SANDY SPRINGS-ALPHARETTA, GA (FHA|USDA|VA) 105 $12,715,000 $121,095 $1,232 2.38%
RALEIGH-CARY, NC (FHA|USDA|VA) 88 $11,250,000 $127,841 $1,633 2.26%
Mount Airy, NC (FHA|USDA|VA) 95 $10,095,000 $106,263 $1,065 2.43%
New York-Newark-Jersey City, NY-NJ-PA (FHA|USDA|VA) 39 $6,905,000 $177,051 $3,333 2.38%
Washington-Arlington-Alexandria, DC-VA-MD-WV (FHA|USDA|VA) 27 $5,225,000 $193,519 $4,087 2.54%
DURHAM-CHAPEL HILL, NC (FHA|USDA|VA) 17 $4,785,000 $281,471 $2,961 2.57%
HICKORY-LENOIR-MORGANTON, NC (FHA|USDA|VA) 21 $3,405,000 $162,143 $1,658 2.39%
Outside of Metro Areas 25 $2,875,000 $115,000 $701 2.64%
Los Angeles-Long Beach-Anaheim, CA (FHA|USDA|VA) 12 $2,280,000 $190,000 $2,266 2.79%
MYRTLE BEACH-CONWAY-NORTH MYRTLE BEACH, SC-NC (FHA|USDA|VA) 14 $2,120,000 $151,429 $2,724 2.65%
Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) 11 $1,915,000 $174,091 $1,720 2.23%
CHARLESTON-NORTH CHARLESTON, SC (FHA|USDA|VA) 12 $1,590,000 $132,500 $0 1.99%
North Wilkesboro, NC (FHA|USDA|VA) 9 $1,215,000 $135,000 $1,836 2.64%
SAN JOSE-SUNNYVALE-SANTA CLARA, CA (FHA|USDA|VA) 3 $895,000 $298,333 $86 2.89%
Greenwood, SC (FHA|USDA|VA) 1 $885,000 $885,000 $0 4.00%
ASHEVILLE, NC (FHA|USDA|VA) 6 $870,000 $145,000 $186 2.47%
FAYETTEVILLE, NC (FHA|USDA|VA) 6 $840,000 $140,000 $4,895 2.24%
COLUMBIA, SC (FHA|USDA|VA) 10 $820,000 $82,000 $0 2.22%
Forest City, NC (FHA|USDA|VA) 6 $810,000 $135,000 $89 2.11%
WILMINGTON, NC (FHA|USDA|VA) 7 $805,000 $115,000 $0 1.99%
TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) 7 $775,000 $110,714 $0 2.28%
RICHMOND, VA (FHA|USDA|VA) 6 $720,000 $120,000 $0 1.99%
Georgetown, SC (FHA|USDA|VA) 2 $700,000 $350,000 $7,001 2.50%
BURLINGTON, NC (FHA|USDA|VA) 6 $640,000 $106,667 $3,623 2.26%
RIVERSIDE-SAN BERNARDINO-ONTARIO, CA (FHA|USDA|VA) 5 $635,000 $127,000 $183 2.13%
CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) 3 $625,000 $208,333 $0 3.41%
Chicago-Naperville-Elgin, IL-IN-WI (FHA|USDA|VA) 4 $620,000 $155,000 $0 2.56%
Philadelphia-Camden-Wilmington, PA-NJ-DE-MD (FHA|USDA|VA) 4 $590,000 $147,500 $0 1.99%
Boone, NC (FHA|USDA|VA) 4 $520,000 $130,000 $72 2.45%
North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) 3 $445,000 $148,333 $4,122 2.37%
SAVANNAH, GA (FHA|USDA|VA) 6 $400,000 $66,667 $0 1.99%
PITTSBURGH, PA (FHA|USDA|VA) 5 $395,000 $79,000 $0 1.99%
ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) 4 $390,000 $97,500 $0 1.99%
BLACKSBURG-CHRISTIANSBURG, VA (FHA|USDA|VA) 1 $345,000 $345,000 $672 2.69%
SAN DIEGO-CHULA VISTA-CARLSBAD, CA (FHA|USDA|VA) 2 $340,000 $170,000 $0 4.13%
VIRGINIA BEACH-NORFOLK-NEWPORT NEWS, VA-NC (FHA|USDA|VA) 5 $315,000 $63,000 $239 2.29%
CHARLESTON, WV (FHA|USDA|VA) 1 $295,000 $295,000 $0 1.99%
SANTA MARIA-SANTA BARBARA, CA (FHA|USDA|VA) 1 $285,000 $285,000 $0 1.99%
UTICA-ROME, NY (FHA|USDA|VA) 2 $280,000 $140,000 $72 2.34%
JACKSONVILLE, FL (FHA|USDA|VA) 5 $265,000 $53,000 $0 1.99%
BALTIMORE-COLUMBIA-TOWSON, MD (FHA|USDA|VA) 3 $255,000 $85,000 $0 2.74%
POUGHKEEPSIE-NEWBURGH-MIDDLETOWN, NY (FHA|USDA|VA) 1 $255,000 $255,000 $0 4.00%
HARRISBURG-CARLISLE, PA (FHA|USDA|VA) 1 $255,000 $255,000 $183 2.69%
NEW BERN, NC (FHA|USDA|VA) 1 $245,000 $245,000 $186 2.69%
Martinsville, VA (FHA|USDA|VA) 3 $235,000 $78,333 $3,828 2.41%
Pinehurst-Southern Pines, NC (FHA|USDA|VA) 3 $235,000 $78,333 $3,382 2.24%
ROCHESTER, NY (FHA|USDA|VA) 1 $235,000 $235,000 $169 2.69%
San Francisco-Oakland-Berkeley, CA (FHA|USDA|VA) 2 $210,000 $105,000 $0 1.99%
PENSACOLA-FERRY PASS-BRENT, FL (FHA|USDA|VA) 1 $205,000 $205,000 $4,426 2.88%
CHARLOTTESVILLE, VA (FHA|USDA|VA) 2 $200,000 $100,000 $0 1.99%
Morehead City, NC (FHA|USDA|VA) 2 $190,000 $95,000 $4,210 2.43%
COLUMBUS, GA-AL (FHA|USDA|VA) 1 $175,000 $175,000 $0 1.99%
SACRAMENTO-ROSEVILLE-FOLSOM, CA (FHA|USDA|VA) 1 $175,000 $175,000 $0 4.25%
GAINESVILLE, GA (FHA|USDA|VA) 2 $160,000 $80,000 $0 1.99%
Jefferson, GA (FHA|USDA|VA) 2 $160,000 $80,000 $0 1.99%
Wilson, NC (FHA|USDA|VA) 2 $160,000 $80,000 $172 2.29%
AUGUSTA-RICHMOND COUNTY, GA-SC (FHA|USDA|VA) 1 $155,000 $155,000 $0 1.99%
YORK-HANOVER, PA (FHA|USDA|VA) 1 $155,000 $155,000 $4,552 3.25%
OCALA, FL (FHA|USDA|VA) 1 $155,000 $155,000 $186 2.69%
ROANOKE, VA (FHA|USDA|VA) 2 $150,000 $75,000 $2,744 2.50%
HILTON HEAD ISLAND-BLUFFTON, SC (FHA|USDA|VA) 2 $150,000 $75,000 $0 1.99%
GREENVILLE-ANDERSON, SC (FHA|USDA|VA) 2 $140,000 $70,000 $0 1.99%
Shelby, NC (FHA|USDA|VA) 1 $135,000 $135,000 $0 3.80%
SCRANTON--WILKES-BARRE, PA (FHA|USDA|VA) 1 $135,000 $135,000 $183 2.69%
PORT ST. LUCIE, FL (FHA|USDA|VA) 1 $125,000 $125,000 $0 1.99%
GETTYSBURG, PA (FHA|USDA|VA) 1 $125,000 $125,000 $0 1.99%
Albemarle, NC (FHA|USDA|VA) 2 $120,000 $60,000 $0 1.99%
ALLENTOWN-BETHLEHEM-EASTON, PA-NJ (FHA|USDA|VA) 1 $115,000 $115,000 $0 1.99%
Elizabeth City, NC (FHA|USDA|VA) 1 $115,000 $115,000 $0 1.99%
Tifton, GA (FHA|USDA|VA) 1 $105,000 $105,000 $608 2.69%
ATHENS-CLARKE COUNTY, GA (FHA|USDA|VA) 1 $105,000 $105,000 $0 1.99%
LYNCHBURG, VA (FHA|USDA|VA) 1 $105,000 $105,000 $0 1.99%
NEW HAVEN-MILFORD, CT (FHA|USDA|VA) 1 $105,000 $105,000 $169 2.69%
OCEAN CITY, NJ (FHA|USDA|VA) 1 $105,000 $105,000 $0 4.00%
BUFFALO-CHEEKTOWAGA, NY (FHA|USDA|VA) 1 $95,000 $95,000 $117 2.69%
ROCKY MOUNT, NC (FHA|USDA|VA) 1 $95,000 $95,000 $0 1.99%
MACON-BIBB COUNTY, GA (FHA|USDA|VA) 1 $85,000 $85,000 $0 1.99%
ERIE, PA (FHA|USDA|VA) 1 $75,000 $75,000 $0 1.99%
CINCINNATI, OH-KY-IN (FHA|USDA|VA) 1 $65,000 $65,000 $173 2.79%
GAINESVILLE, FL (FHA|USDA|VA) 1 $65,000 $65,000 $0 1.99%
Lumberton, NC (FHA|USDA|VA) 1 $55,000 $55,000 $0 1.99%
LAKELAND-WINTER HAVEN, FL (FHA|USDA|VA) 1 $45,000 $45,000 $0 1.99%
BECKLEY, WV (FHA|USDA|VA) 1 $45,000 $45,000 $2,388 2.25%
STAUNTON, VA (FHA|USDA|VA) 1 $45,000 $45,000 $0 1.99%
THE VILLAGES, FL (FHA|USDA|VA) 1 $45,000 $45,000 $0 1.99%
GOLDSBORO, NC (FHA|USDA|VA) 1 $45,000 $45,000 $0 1.99%
PALM BAY-MELBOURNE-TITUSVILLE, FL (FHA|USDA|VA) 1 $45,000 $45,000 $0 1.99%
CHAMBERSBURG-WAYNESBORO, PA (FHA|USDA|VA) 1 $35,000 $35,000 $0 1.99%
BRUNSWICK, GA (FHA|USDA|VA) 1 $35,000 $35,000 $0 1.99%
SUMTER, SC (FHA|USDA|VA) 1 $25,000 $25,000 $0 1.99%
READING, PA (FHA|USDA|VA) 1 $25,000 $25,000 $0 1.99%
DALTON, GA (FHA|USDA|VA) 1 $25,000 $25,000 $0 1.99%
DELTONA-DAYTONA BEACH-ORMOND BEACH, FL (FHA|USDA|VA) 1 $25,000 $25,000 $0 1.99%

Allegacy Federal Credit Union's top markets include Winston, Charlotte, Greensboro, Atlanta, and Raleigh among others.

Product Mix

Loan Type Originations Total Value Average Loan Average Fees Average Rate
Conventional 2,953 $377,235,000 $127,746 $1,425 2.44%

For the 2021 period, Allegacy Federal Credit Union's most frequently originated loan type of loans were Conventional, with 2,953 originations.

Loan Reason

Loan Reason Originations Total Value Average Loan Average Fees Average Rate
Refi 1,311 $190,375,000 $145,214 $627 2.56%
Home Improvement 723 $64,265,000 $88,887 $1,821 2.17%
Other 562 $48,540,000 $86,370 $283 2.19%
Home Purchase 256 $52,280,000 $204,219 $4,122 2.87%
Cash Out Refi 101 $21,775,000 $215,594 $4,454 3.21%

For the 2021, Allegacy Federal Credit Union's most frequently cited loan purpose of loans were Refi, with 1,311 originations. The 2nd most popular reason of loans were Home Improvement, with 723 originations.

Loan Duration/Length

Loan Length Originations Total Value Average Loan Average Fees Average Rate
30 Year 2,100 $237,630,000 $113,157 $4,264 2.31%
15 Year 615 $103,465,000 $168,236 $510 2.78%
Other 146 $23,960,000 $164,110 $206 2.80%
10 Year 82 $10,520,000 $128,293 $273 2.69%
20 Year 10 $1,660,000 $166,000 $3,513 3.16%

For the 2021, Allegacy Federal Credit Union's most frequently cited loan length of loans were 30 Year, with 2,100 originations. The 2nd most popular length of loans were 15 Year, with 615 originations.

Origination Fees

Origination Fee Originations Total Value Average Loan
$<1k 787 $123,575,000 $157,020
$1k-2k 153 $18,465,000 $120,686
$2k-3k 109 $22,735,000 $208,578
$3k-4k 51 $17,445,000 $342,059
$5k+ 15 $8,625,000 $575,000

$4,264 of loans were Allegacy Federal Credit Union's average total fees, while their most frequently occuring range of origination fees were in the $<1k bucket, with 787 originations.

Interest Rates

Loan Rate Originations Total Value Average Loan
<2.5% 1,708 $159,950,000 $93,648
2.5-3% 884 $145,560,000 $164,661
3-4% 236 $52,350,000 $221,822
4-5% 114 $18,400,000 $161,404
Over 8% 6 $230,000 $38,333
7-8% 3 $155,000 $51,667
6-7% 1 $165,000 $165,000
5-6% 1 $425,000 $425,000

During 2021, Allegacy Federal Credit Union's average interest rate of loans were 2.31%, while their most frequently originated rate bucket of loans were <2.5%, with 1,708 originations.

Loan Sizing

Loan Size Originations Total Value Average Loan Average Fees Average Rate
$100,000 or less 1,403 $81,875,000 $58,357 $623 2.26%
$100k-200k 1,050 $139,540,000 $132,895 $1,322 2.54%
$200k-400k 440 $118,990,000 $270,432 $2,045 2.69%
$400k-600k 38 $18,330,000 $482,368 $3,744 3.09%
$600k-1MM 18 $12,630,000 $701,667 $3,563 3.12%
$1MM+ 4 $5,870,000 $1,467,500 $9,963 3.39%

2021 saw Allegacy Federal Credit Union place emphasis on $100,000 or less loans with 1,403 originations, totaling $81,875,000 in origination value.

Applicant Income

Applicant Income Originations Total Value Average Loan Average Fees Average Rate
$100k-150k 783 $90,555,000 $115,651 $1,334 2.40%
$150k-250k 619 $95,745,000 $154,677 $1,674 2.35%
$50k-75k 484 $45,990,000 $95,021 $1,403 2.54%
$75k-100k 479 $49,895,000 $104,165 $1,229 2.39%
$250k+ 290 $62,830,000 $216,655 $1,255 2.46%
$50k or less 283 $23,015,000 $81,325 $1,624 2.60%

Allegacy Federal Credit Union lent most frequently to those with incomes in the $100k-150k range, with 783 originations. The second most popular income band? $150k-250k, with 619 originations.

Applicant Debt to Income Ratio

DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
20-30% 826 $106,070,000 $128,414 $1,485 2.48%
30-36% 587 $71,985,000 $122,632 $1,669 2.40%
<20% 407 $55,175,000 $135,565 $1,373 2.58%
43% 160 $16,570,000 $103,563 $773 2.28%
42% 156 $17,470,000 $111,987 $803 2.34%
41% 150 $18,620,000 $124,133 $704 2.33%
40% 117 $12,805,000 $109,444 $1,018 2.23%
37% 110 $12,490,000 $113,545 $1,372 2.45%
39% 106 $12,670,000 $119,528 $1,717 2.37%
38% 98 $13,570,000 $138,469 $1,673 2.46%
36% 97 $13,015,000 $134,175 $1,611 2.43%
44% 38 $4,560,000 $120,000 $1,431 2.43%
45% 31 $4,625,000 $149,194 $2,157 2.51%
46% 19 $2,395,000 $126,053 $1,458 2.43%
48% 12 $2,020,000 $168,333 $3,328 2.77%
47% 11 $1,385,000 $125,909 $1,198 2.41%
49% 8 $1,150,000 $143,750 $171 2.42%
50-60% 6 $1,580,000 $263,333 $2,710 2.51%

Allegacy Federal Credit Union lent most frequently to those with DTI ratios of 20-30%, with 826 originations. The next most common DTI ratio? 30-36%, with 587 originations.

Ethnicity Mix

Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
White 2,100 $262,010,000 $124,767 $1,460 2.44%
Not provided 617 $79,505,000 $128,857 $913 2.40%
Black 169 $18,195,000 $107,663 $1,824 2.50%
Not applicable 16 $9,220,000 $576,250 $169 3.87%
Asian 40 $6,780,000 $169,500 $1,873 2.51%
American Indian 7 $1,235,000 $176,429 $3,435 2.56%
Asian Indian 2 $200,000 $100,000 $0 1.99%
Samoan 1 $75,000 $75,000 $0 1.99%
Chinese 1 $15,000 $15,000 $0 1.99%

Approval Rates

Total approvals of all applications
87.79%

Allegacy Federal Credit Union has an average approval rate.

Pick Rate

Approvals leading to origination
76.00%

Allegacy Federal Credit Union has a below average pick rate.

Points and Fees

Points Originations Total Value Average Loan
NA 2,953 $377,235,000 $127,746

Occupancy Type Mix

Dwelling Type Originations Total Value Average Loan
2,953 $377,235,000 $127,746

LTV Distribution

Loan to Value Originations Total Value Average Loan Average Fees Average Rate
20-40% 970 $108,620,000 $111,979 $498 2.28%
40-60% 465 $70,565,000 $151,753 $935 2.57%
60-80% 478 $100,490,000 $210,230 $1,536 2.82%
80-100% 182 $41,580,000 $228,462 $3,259 3.00%
Under 20% 858 $55,980,000 $65,245 $261 2.23%