Allegacy Federal Credit Union Mortgage Rates, Fees & Info

Winston-Salem, NC

LEI: 549300TQWW6MLVH6KY61

Tax ID: 56-6087383

5 stars - Updated: 3/28/24 - out of 5 stars, based on 42 reviews

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

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Mortgage Data

Review & Overview

Allegacy Federal Credit Union is a smaller credit union specializing in Refi and Home Purchase loans. Allegacy Federal Credit Union has a high proportion of conventional loans. Their top markets by origination volume include: Winston, Charlotte, Greensboro, Atlanta, and Raleigh among others. We have data for 70 markets. (Some data included below & more in-depth data is available with an active subscription.)

Allegacy Federal Credit Union has an average approval rate when compared to the average across all lenders. They have a below average pick rate when compared to similar lenders. Allegacy Federal 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 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% 3/28/24
30 Year Conventional Purchase 6.62% 3/28/24
30 Year Conventional Refi 6.29% 3/28/24
30 Year Cash-out Refi 6.68% 3/28/24
30 Year USDA Purchase 6.27% 3/28/24
15 Year Conventional Purchase 4.89% 3/28/24
15 Year Conventional Refi 4.57% 3/28/24
15 Year Cash-out Refi 4.57% 3/28/24
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.

Allegacy 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 Allegacy 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

1,768

Origination Dollar Volume (All Markets)

$271,290,000

Awards

ALLEGACY FEDERAL CREDIT UNION 30 Year Conventional Loans gold ALLEGACY FEDERAL CREDIT UNION 30 Year Conventional Loans gold ALLEGACY FEDERAL CREDIT UNION 30 Year Conventional Loans gold ALLEGACY FEDERAL CREDIT UNION 30 Year Conventional Loans gold
Show all (4) awards

Relative Rate

Allegacy Federal Credit Union's average 30 year fixed mortgage rate was 3.33%.

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

This yields a difference of -3.15%.

Relative Fees (Closing Costs)

Allegacy Federal Credit Union's average total fees/closing costs for a 30 year fixed rate mortgage were $4,911.

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
WINSTON-SALEM, NC (FHA|USDA|VA) 972 $122,520,000 $126,049 $2,384 3.48%
CHARLOTTE-CONCORD-GASTONIA, NC-SC (FHA|USDA|VA) 277 $60,645,000 $218,935 $3,888 3.97%
GREENSBORO-HIGH POINT, NC (FHA|USDA|VA) 153 $21,575,000 $141,013 $2,907 3.63%
ATLANTA-SANDY SPRINGS-ALPHARETTA, GA (FHA|USDA|VA) 62 $10,600,000 $170,968 $983 4.37%
RALEIGH-CARY, NC (FHA|USDA|VA) 42 $9,140,000 $217,619 $4,461 3.67%
Mount Airy, NC (FHA|USDA|VA) 47 $5,575,000 $118,617 $2,162 3.38%
New York-Newark-Jersey City, NY-NJ-PA (FHA|USDA|VA) 27 $5,475,000 $202,778 $3,747 4.21%
DURHAM-CHAPEL HILL, NC (FHA|USDA|VA) 11 $2,965,000 $269,545 $5,140 3.95%
MYRTLE BEACH-CONWAY-NORTH MYRTLE BEACH, SC-NC (FHA|USDA|VA) 16 $2,900,000 $181,250 $4,514 4.81%
CHARLESTON-NORTH CHARLESTON, SC (FHA|USDA|VA) 6 $2,450,000 $408,333 $5,933 7.27%
HICKORY-LENOIR-MORGANTON, NC (FHA|USDA|VA) 12 $2,010,000 $167,500 $2,901 3.53%
Washington-Arlington-Alexandria, DC-VA-MD-WV (FHA|USDA|VA) 6 $1,980,000 $330,000 $6,309 4.58%
ASHEVILLE, NC (FHA|USDA|VA) 5 $1,695,000 $339,000 $6,812 5.00%
RICHMOND, VA (FHA|USDA|VA) 6 $1,530,000 $255,000 $0 3.20%
TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) 6 $1,310,000 $218,333 $5,055 3.64%
Outside of Metro Areas 12 $1,280,000 $106,667 $259 3.48%
VIRGINIA BEACH-NORFOLK-NEWPORT NEWS, VA-NC (FHA|USDA|VA) 2 $1,010,000 $505,000 $8,438 6.13%
WILMINGTON, NC (FHA|USDA|VA) 9 $965,000 $107,222 $280 3.15%
Philadelphia-Camden-Wilmington, PA-NJ-DE-MD (FHA|USDA|VA) 9 $875,000 $97,222 $385 2.65%
RIVERSIDE-SAN BERNARDINO-ONTARIO, CA (FHA|USDA|VA) 4 $850,000 $212,500 $574 5.78%
BURLINGTON, NC (FHA|USDA|VA) 4 $750,000 $187,500 $4,638 3.90%
Georgetown, SC (FHA|USDA|VA) 2 $690,000 $345,000 $9,663 4.43%
GREENVILLE-ANDERSON, SC (FHA|USDA|VA) 4 $670,000 $167,500 $3,050 4.77%
Morehead City, NC (FHA|USDA|VA) 3 $635,000 $211,667 $5,505 5.50%
Boone, NC (FHA|USDA|VA) 2 $620,000 $310,000 $10,444 8.06%
SAVANNAH, GA (FHA|USDA|VA) 2 $560,000 $280,000 $7,033 4.75%
ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) 2 $520,000 $260,000 $0 5.62%
Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) 4 $520,000 $130,000 $5,347 2.62%
Shelby, NC (FHA|USDA|VA) 2 $490,000 $245,000 $0 4.42%
PALM BAY-MELBOURNE-TITUSVILLE, FL (FHA|USDA|VA) 2 $490,000 $245,000 $0 5.62%
DELTONA-DAYTONA BEACH-ORMOND BEACH, FL (FHA|USDA|VA) 1 $475,000 $475,000 $21,231 5.75%
Pinehurst-Southern Pines, NC (FHA|USDA|VA) 3 $465,000 $155,000 $0 1.99%
ALLENTOWN-BETHLEHEM-EASTON, PA-NJ (FHA|USDA|VA) 2 $460,000 $230,000 $0 1.99%
COLUMBIA, SC (FHA|USDA|VA) 3 $425,000 $141,667 $0 3.37%
AUGUSTA-RICHMOND COUNTY, GA-SC (FHA|USDA|VA) 1 $415,000 $415,000 $0 9.00%
Forest City, NC (FHA|USDA|VA) 2 $400,000 $200,000 $5,978 4.31%
Jefferson, GA (FHA|USDA|VA) 2 $370,000 $185,000 $4,739 4.37%
Washington, NC (FHA|USDA|VA) 2 $370,000 $185,000 $0 5.25%
Los Angeles-Long Beach-Anaheim, CA (FHA|USDA|VA) 1 $355,000 $355,000 $0 9.50%
BALTIMORE-COLUMBIA-TOWSON, MD (FHA|USDA|VA) 3 $315,000 $105,000 $0 3.49%
BLACKSBURG-CHRISTIANSBURG, VA (FHA|USDA|VA) 1 $305,000 $305,000 $8,206 6.50%
PENSACOLA-FERRY PASS-BRENT, FL (FHA|USDA|VA) 1 $295,000 $295,000 $6,193 7.00%
FAYETTEVILLE, NC (FHA|USDA|VA) 3 $285,000 $95,000 $0 1.99%
JACKSONVILLE, NC (FHA|USDA|VA) 1 $275,000 $275,000 $4,370 5.25%
Martinsville, VA (FHA|USDA|VA) 3 $265,000 $88,333 $19 3.27%
CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) 1 $235,000 $235,000 $0 9.25%
Wilson, NC (FHA|USDA|VA) 3 $215,000 $71,667 $70 3.11%
HAGERSTOWN-MARTINSBURG, MD-WV (FHA|USDA|VA) 1 $195,000 $195,000 $3,855 5.75%
GOLDSBORO, NC (FHA|USDA|VA) 2 $190,000 $95,000 $0 1.99%
LAKELAND-WINTER HAVEN, FL (FHA|USDA|VA) 1 $185,000 $185,000 $0 8.25%
ALBANY-SCHENECTADY-TROY, NY (FHA|USDA|VA) 1 $175,000 $175,000 $0 9.25%
PANAMA CITY, FL (FHA|USDA|VA) 1 $105,000 $105,000 $4,152 6.13%
COLUMBUS, GA-AL (FHA|USDA|VA) 1 $105,000 $105,000 $0 1.99%
HILTON HEAD ISLAND-BLUFFTON, SC (FHA|USDA|VA) 1 $105,000 $105,000 $0 1.99%
Kill Devil Hills, NC (FHA|USDA|VA) 1 $105,000 $105,000 $0 9.00%
SCRANTON--WILKES-BARRE, PA (FHA|USDA|VA) 1 $105,000 $105,000 $0 1.99%
PORT ST. LUCIE, FL (FHA|USDA|VA) 1 $95,000 $95,000 $0 1.99%
Chicago-Naperville-Elgin, IL-IN-WI (FHA|USDA|VA) 1 $85,000 $85,000 $0 1.99%
CHATTANOOGA, TN-GA (FHA|USDA|VA) 1 $75,000 $75,000 $0 1.99%
GREENVILLE, NC (FHA|USDA|VA) 1 $75,000 $75,000 $0 1.99%
PITTSBURGH, PA (FHA|USDA|VA) 1 $75,000 $75,000 $0 1.99%
ATHENS-CLARKE COUNTY, GA (FHA|USDA|VA) 1 $65,000 $65,000 $0 1.99%
CRESTVIEW-FORT WALTON BEACH-DESTIN, FL (FHA|USDA|VA) 1 $65,000 $65,000 $0 1.99%
BUFFALO-CHEEKTOWAGA, NY (FHA|USDA|VA) 1 $55,000 $55,000 $0 1.99%
North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) 1 $55,000 $55,000 $0 1.99%
LYNCHBURG, VA (FHA|USDA|VA) 1 $45,000 $45,000 $0 1.99%
WILLIAMSPORT, PA (FHA|USDA|VA) 1 $35,000 $35,000 $184 9.75%
Elizabeth City, NC (FHA|USDA|VA) 1 $25,000 $25,000 $0 1.99%
North Wilkesboro, NC (FHA|USDA|VA) 1 $25,000 $25,000 $0 1.99%
Albemarle, NC (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.

Their top states include:
  • North Carolina (FHA|USDA|VA)
  • Georgia (FHA|USDA|VA)
  • South Carolina (FHA|USDA|VA)
  • Virginia (FHA|USDA|VA)
  • Florida (FHA|USDA|VA)
  • Similar Lenders

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

    SCIENT Federal Credit Union
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    FIRST EQUITY MORTGAGE INCORPORATED
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    Shea Mortgage Inc.
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    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    HELOC 1,235 $148,415,000 $120,174 n/a 2.71%
    Conventional 533 $122,875,000 $230,535 $2,914 5.94%

    For 2023, Allegacy Federal Credit Union's most frequently originated type of loan was HELOC, with 1,235 originations. Their 2nd most popular type was Conventional, with 533 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Improvement 496 $53,780,000 $108,427 $616 2.92%
    Refi 457 $67,025,000 $146,663 $432 3.56%
    Other 442 $41,370,000 $93,597 $200 3.00%
    Home Purchase 318 $97,650,000 $307,075 $5,015 5.78%
    Cash Out Refi 55 $11,465,000 $208,455 $4,002 4.94%

    For 2023, Allegacy Federal Credit Union's most frequently cited loan purpose was Home Improvement, with 496 originations. The 2nd most popular reason was Refi, with 457 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 1,533 $241,665,000 $157,642 $4,911 3.33%
    15 Year 172 $24,510,000 $142,500 $468 6.18%
    Other 47 $2,795,000 $59,468 $175 5.32%
    10 Year 9 $845,000 $93,889 $200 5.37%
    20 Year 7 $1,475,000 $210,714 $3,315 7.32%

    For 2023, Allegacy Federal Credit Union's most frequently cited loan duration was 30 Year, with 1,533 originations. The 2nd most popular length was 15 Year, with 172 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 244 $33,780,000 $138,443
    $1k-2k 100 $19,240,000 $192,400
    $2k-3k 73 $23,415,000 $320,753
    $3k-4k 52 $21,430,000 $412,115
    $4k-5k 20 $9,640,000 $482,000
    $5k+ 19 $10,265,000 $540,263

    Allegacy Federal Credit Union's average total fees were $4,911, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 244 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    <2.5% 1,105 $118,895,000 $107,597
    5-6% 224 $46,470,000 $207,455
    Over 8% 161 $30,735,000 $190,901
    6-7% 116 $33,280,000 $286,897
    4-5% 103 $28,585,000 $277,524
    7-8% 50 $11,940,000 $238,800
    3-4% 9 $1,385,000 $153,889

    During 2023, Allegacy Federal Credit Union's average interest rate for loans was 3.33%, while their most frequently originated rate bucket for loans was <2.5%, with 1,105 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 723 $41,935,000 $58,001 $505 3.13%
    $100k-200k 599 $75,385,000 $125,851 $1,897 3.42%
    $200k-400k 342 $97,950,000 $286,404 $4,222 4.52%
    $400k-600k 80 $39,240,000 $490,500 $5,803 6.50%
    $600k-1MM 23 $15,705,000 $682,826 $7,294 5.85%
    $1MM+ 1 $1,075,000 $1,075,000 $9,948 6.88%

    2023 saw Allegacy Federal Credit Union place emphasis on $100,000 or less loans with 723 originations, totaling $41,935,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 422 $61,240,000 $145,118 $2,594 3.47%
    $150k-250k 353 $73,315,000 $207,691 $4,265 3.81%
    $75k-100k 302 $37,270,000 $123,411 $3,083 3.50%
    $50k-75k 295 $28,175,000 $95,508 $2,137 3.50%
    $250k+ 214 $57,170,000 $267,150 $5,606 4.18%
    $50k or less 170 $10,870,000 $63,941 $1,232 3.76%

    Allegacy Federal Credit Union lent most frequently to those with incomes in the $100k-150k range, with 422 originations. The second most popular income band? $150k-250k, with 353 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 403 $64,735,000 $160,633 $2,988 3.75%
    30-36% 324 $48,460,000 $149,568 $2,652 3.45%
    <20% 169 $22,925,000 $135,651 $1,994 4.07%
    43% 135 $15,125,000 $112,037 $1,749 2.87%
    42% 128 $18,590,000 $145,234 $2,293 3.31%
    39% 94 $16,090,000 $171,170 $3,797 3.38%
    41% 92 $11,380,000 $123,696 $1,617 3.42%
    40% 78 $11,560,000 $148,205 $3,161 3.80%
    37% 74 $11,530,000 $155,811 $3,002 3.73%
    38% 70 $13,580,000 $194,000 $4,291 4.17%
    36% 59 $9,305,000 $157,712 $2,184 3.33%
    44% 44 $8,770,000 $199,318 $4,498 4.58%
    45% 32 $4,980,000 $155,625 $5,670 4.09%
    50-60% 19 $3,775,000 $198,684 $2,915 4.58%
    46% 13 $2,195,000 $168,846 $5,601 5.05%
    47% 10 $2,160,000 $216,000 $7,036 6.01%
    49% 8 $2,240,000 $280,000 $6,432 5.95%
    48% 5 $1,015,000 $203,000 $2,280 3.72%
    >60% 3 $425,000 $141,667 $3,134 8.21%

    Allegacy Federal Credit Union lent most frequently to those with DTI ratios of 20-30%, with 403 originations. The next most common DTI ratio? 30-36%, with 324 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 1,208 $176,530,000 $146,134 $3,011 3.58%
    Not provided 354 $60,410,000 $170,650 $2,490 3.90%
    Black 145 $17,925,000 $123,621 $2,205 3.58%
    Asian 46 $13,280,000 $288,696 $4,275 4.30%
    Not applicable 8 $2,450,000 $306,250 $0 7.51%
    American Indian 4 $340,000 $85,000 $184 3.87%
    Native Hawaiian or Islander 1 $215,000 $215,000 $0 1.99%
    Asian Indian 2 $140,000 $70,000 $0 5.75%

    Approval Rates

    Total approvals of all applications
    81.90%

    Allegacy Federal Credit Union has a below average approval rate.

    Pick Rate

    Approvals leading to origination
    69.68%

    Allegacy Federal Credit Union has a low pick rate. They may have issues with closing loans or may approve everyone, but with onerous loan terms.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 1,768 $271,290,000 $153,445

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    1,768 $271,290,000 $153,445

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 649 $81,935,000 $126,248 $796 3.06%
    40-60% 216 $40,680,000 $188,333 $1,742 4.02%
    60-80% 193 $53,265,000 $275,984 $3,825 5.27%
    80-100% 164 $55,710,000 $339,695 $4,903 5.55%
    Over 100% 1 $585,000 $585,000 $0 7.00%
    Under 20% 545 $39,115,000 $71,771 $286 3.18%