Class Act Federal Credit Union Mortgage Rates, Fees & Info
Louisville, KYLEI: 549300VNVP1PTYHESA41
Tax ID: 61-0549795
Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data
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Mortgage Data
Review & Overview
Class Act Federal Credit Union is a smaller credit union specializing in Cash Out Refi and Home Improvement loans. Class Act Federal Credit Union has a high proportion of conventional loans. Their top markets by origination volume include: Louisville, Elizabethtown, Frankfort, and Bardstown among others. We have data for 5 markets. (Some data included below & more in-depth data is available with an active subscription.)Class Act Federal Credit Union has an above average approval rate when compared to the average across all lenders.
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Originations
113Origination Dollar Volume (All Markets)
$5,685,000Top 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 |
|---|---|---|---|---|---|
| LOUISVILLE, KY (FHA|USDA|VA) | 104 | $5,070,000 | $48,750 | $0 | 0.00% |
| ELIZABETHTOWN-FORT KNOX, KY (FHA|USDA|VA) | 4 | $310,000 | $77,500 | $0 | 0.00% |
| Frankfort, KY (FHA|USDA|VA) | 2 | $190,000 | $95,000 | $0 | 0.00% |
| Bardstown, KY (FHA|USDA|VA) | 2 | $80,000 | $40,000 | $0 | 0.00% |
| Outside of Metro Areas | 1 | $35,000 | $35,000 | $0 | 0.00% |
Similar Lenders
We use machine learning to identify the top lenders compared against CLASS ACT FEDERAL CREDIT UNION based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.
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Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 113 | $5,685,000 | $50,310 | $0 | 0.00% |
For 2023, Class Act Federal Credit Union's most frequently originated type of loan was Conventional, with 113 originations.
Loan Reason
For 2023, Class Act Federal Credit Union's most frequently cited loan purpose was Cash Out Refi, with 50 originations. The 2nd most popular reason was Home Improvement, with 36 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Other | 113 | $5,685,000 | $50,310 | $0 | 0.00% |
For 2023, Class Act Federal Credit Union's most frequently cited loan duration was Other, with 113 originations.
Loan Sizing
| Loan Size | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| $100,000 or less | 102 | $4,260,000 | $41,765 | $0 | 0.00% |
| $100k-200k | 11 | $1,425,000 | $129,545 | $0 | 0.00% |
2023 saw Class Act Federal Credit Union place emphasis on $100,000 or less loans with 102 originations, totaling $4,260,000 in origination value.
Applicant Income
Class Act Federal Credit Union lent most frequently to those with incomes in the $50k-75k range, with 30 originations. The second most popular income band? $75k-100k, with 29 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Exempt% | 113 | $5,685,000 | $50,310 | $0 | 0.00% |
Class Act Federal Credit Union lent most frequently to those with DTI ratios of Exempt%, with 113 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications99.12%
Class Act 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 originationPoints and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| Exempt | 113 | $5,685,000 | $50,310 |