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 Home Purchase and Cash Out Refi loans. Class Act Federal Credit Union has a high proportion of conventional loans. Their top markets by origination volume include: Louisville, Frankfort, Paducah, Columbus, and Lexington among others. We have data for 10 markets. (Some data included below & more in-depth data is available with an active subscription.)Class Act 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.
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Originations
130Origination Dollar Volume (All Markets)
$19,450,000Top 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) | 116 | $16,720,000 | $144,138 | $0 | 0.00% |
| Frankfort, KY (FHA|USDA|VA) | 3 | $775,000 | $258,333 | $0 | 0.00% |
| Paducah, KY-IL (FHA|USDA|VA) | 1 | $435,000 | $435,000 | $0 | 0.00% |
| COLUMBUS, OH (FHA|USDA|VA) | 1 | $435,000 | $435,000 | $0 | 0.00% |
| LEXINGTON-FAYETTE, KY (FHA|USDA|VA) | 2 | $270,000 | $135,000 | $0 | 0.00% |
| Outside of Metro Areas | 3 | $255,000 | $85,000 | $0 | 0.00% |
| ELIZABETHTOWN-FORT KNOX, KY (FHA|USDA|VA) | 1 | $195,000 | $195,000 | $0 | 0.00% |
| CINCINNATI, OH-KY-IN (FHA|USDA|VA) | 1 | $175,000 | $175,000 | $0 | 0.00% |
| Bardstown, KY (FHA|USDA|VA) | 1 | $115,000 | $115,000 | $0 | 0.00% |
| BOWLING GREEN, KY (FHA|USDA|VA) | 1 | $75,000 | $75,000 | $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.
Similarity Rank: 360
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Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 128 | $18,900,000 | $147,656 | $0 | 0.00% |
| VA | 2 | $550,000 | $275,000 | $0 | 0.00% |
For 2019, Class Act Federal Credit Union's most frequently originated type of loan was Conventional, with 128 originations. Their 2nd most popular type was VA, with 2 originations.
Loan Reason
For 2019, Class Act Federal Credit Union's most frequently cited loan purpose was Home Purchase, with 59 originations. The 2nd most popular reason was Cash Out Refi, with 46 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Other | 130 | $19,450,000 | $149,615 | $0 | 0.00% |
For 2019, Class Act Federal Credit Union's most frequently cited loan duration was Other, with 130 originations.
Loan Sizing
2019 saw Class Act Federal Credit Union place emphasis on $100k-200k loans with 53 originations, totaling $7,635,000 in origination value.
Applicant Income
Class Act Federal Credit Union lent most frequently to those with incomes in the $50k-75k range, with 34 originations. The second most popular income band? $50k or less, with 32 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Exempt% | 130 | $19,450,000 | $149,615 | $0 | 0.00% |
Class Act Federal Credit Union lent most frequently to those with DTI ratios of Exempt%, with 130 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications81.20%
Class Act Federal Credit Union has a below average approval rate.
Pick Rate
Approvals leading to origination58.46%
Class Act 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 |
|---|---|---|---|
| Exempt | 130 | $19,450,000 | $149,615 |