Advantage One Credit Union Mortgage Rates, Fees & Info

Brownstown Charter Township, MI

LEI: 549300WJVATE8FMFMR49

Tax ID: 38-1475121

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

Jump to:

  • SimulatedRates™
  • Mortgage Calculator

    • Mortgage Data

  • Originations
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • Similar Lenders
  • Loan Length
  • Loan to Value Info
  • Debt-to-Income
  • Applicant Income
  • Ethnicity Info
  • Approval & Pick Rates
  • Points and Fees
  • Origination Fees (Closing Costs)

    • Review & Overview

    Advantage One Credit Union is a smaller credit union specializing in Other loans. Advantage One Credit Union has a high proportion of conventional loans. Their top markets by origination volume include: Detroit, Monroe, Flint, and Traverse City among others. We have data for 5 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Advantage One 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. Advantage One Credit Union is typically a low 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
    30 Year Conventional Purchase 6.60% 5/19/24
    30 Year Conventional Refi 7.14% 5/19/24
    30 Year Cash-out Refi 6.70% 5/19/24
    15 Year Conventional Purchase 6.15% 5/19/24
    15 Year Conventional Refi 6.08% 5/19/24
    15 Year Cash-out Refi 6.08% 5/19/24
    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.

    Advantage One Credit Union Mortgage Calculator






    Your Estimates

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

    This is not an official calculator from Advantage One 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

    217

    Origination Dollar Volume (All Markets)

    $11,685,000

    Awards

    ADVANTAGE ONE Credit Union 30 Year Conventional Loans gold ADVANTAGE ONE Credit Union 30 Year Conventional Loans silver ADVANTAGE ONE Credit Union 30 Year Conventional Loans bronze
    Show all (3) awards

    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
    Detroit-Warren-Dearborn, MI (FHA|USDA|VA) 201 $10,725,000 $53,358 $826 6.66%
    MONROE, MI (FHA|USDA|VA) 9 $465,000 $51,667 $822 7.31%
    FLINT, MI (FHA|USDA|VA) 5 $285,000 $57,000 $2,245 5.68%
    Traverse City, MI (FHA|USDA|VA) 1 $165,000 $165,000 $2,572 4.25%
    Outside of Metro Areas 1 $45,000 $45,000 $2,223 4.25%
    Advantage One Credit Union's top markets include Detroit, Monroe, Flint, and Traverse City among others.

    Their top states include:
  • Michigan (FHA|USDA|VA)

    • Similar Lenders

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

    BIRMINGHAM-BLOOMFIELD Credit Union
    Similarity Rank: 159
    Dort Financial Credit Union
    Similarity Rank: 222
    Polish-American Federal Credit Union
    Similarity Rank: 297
    ADVANTAGE ONE Credit Union
    Similarity Rank: 320
    NEW ENGLAND FEDERAL CREDIT UNION
    Similarity Rank: 448
    Extra
    Similarity Rank: 572
    FreeStar Financial Credit Union
    Similarity Rank: 612
    UNIVERSITY OF MICHIGAN CREDIT UNION
    Similarity Rank: 935
    Zeal Credit Union
    Similarity Rank: 936
    COMMUNITY FINANCIAL CREDIT UNION
    Similarity Rank: 1100

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 166 $9,100,000 $54,819 $865 6.59%
    HELOC 51 $2,585,000 $50,686 n/a 6.84%

    For 2019, Advantage One Credit Union's most frequently originated type of loan was Conventional, with 166 originations. Their 2nd most popular type was HELOC, with 51 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Other 169 $6,735,000 $39,852 $258 7.37%
    Home Purchase 18 $1,980,000 $110,000 $2,494 3.94%
    Cash Out Refi 14 $1,670,000 $119,286 $2,435 4.07%
    Refi 10 $1,000,000 $100,000 $2,191 3.68%
    Home Improvement 6 $300,000 $50,000 $938 5.39%

    For 2019, Advantage One Credit Union's most frequently cited loan purpose was Other, with 169 originations. The 2nd most popular reason was Home Purchase, with 18 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    15 Year 65 $3,365,000 $51,769 $627 7.64%
    Other 56 $2,810,000 $50,179 $325 6.73%
    10 Year 39 $1,115,000 $28,590 $221 7.66%
    30 Year 31 $3,625,000 $116,935 $2,433 4.02%
    5 Year 23 $505,000 $21,957 $215 5.75%
    20 Year 3 $265,000 $88,333 $2,293 4.25%

    For 2019, Advantage One Credit Union's most frequently cited loan duration was 15 Year, with 65 originations. The 2nd most popular length was Other, with 56 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 44 $4,700,000 $106,818
    $1k-2k 1 $195,000 $195,000

    Advantage One Credit Union's average total fees were $2,433, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 44 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    5-6% 47 $1,825,000 $38,830
    Over 8% 43 $1,695,000 $39,419
    4-5% 40 $2,700,000 $67,500
    7-8% 29 $1,245,000 $42,931
    3-4% 28 $3,060,000 $109,286
    6-7% 28 $1,130,000 $40,357
    <2.5% 2 $30,000 $15,000

    During 2019, Advantage One Credit Union's average interest rate for loans was 4.02%, while their most frequently originated rate bucket for loans was 5-6%, with 47 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 185 $7,325,000 $39,595 $568 6.98%
    $100k-200k 30 $3,940,000 $131,333 $2,251 4.66%
    $200k-400k 2 $420,000 $210,000 $2,527 5.44%

    2019 saw Advantage One Credit Union place emphasis on $100,000 or less loans with 185 originations, totaling $7,325,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k or less 71 $3,025,000 $42,606 $863 6.65%
    $50k-75k 58 $3,670,000 $63,276 $1,125 6.25%
    $100k-150k 42 $2,590,000 $61,667 $588 6.85%
    $75k-100k 33 $1,715,000 $51,970 $864 6.91%
    $150k-250k 8 $360,000 $45,000 $216 6.96%
    $250k+ 1 $155,000 $155,000 $0 5.25%

    Advantage One Credit Union lent most frequently to those with incomes in the $50k or less range, with 71 originations. The second most popular income band? $50k-75k, with 58 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 61 $3,065,000 $50,246 $774 6.64%
    30-36% 36 $1,890,000 $52,500 $627 7.55%
    <20% 34 $1,510,000 $44,412 $639 6.33%
    >60% 11 $385,000 $35,000 $432 6.26%
    50-60% 8 $270,000 $33,750 $261 5.99%
    37% 8 $550,000 $68,750 $1,647 5.72%
    45% 7 $715,000 $102,143 $2,694 5.37%
    38% 6 $200,000 $33,333 $225 8.41%
    39% 5 $375,000 $75,000 $1,712 7.20%
    47% 5 $595,000 $119,000 $1,863 4.95%
    40% 5 $315,000 $63,000 $1,622 5.60%
    41% 5 $255,000 $51,000 $804 7.27%
    36% 4 $190,000 $47,500 $510 7.37%
    42% 4 $190,000 $47,500 $1,057 7.18%
    44% 4 $320,000 $80,000 $1,609 5.78%
    46% 3 $215,000 $71,667 $1,674 5.50%
    43% 3 $205,000 $68,333 $1,741 5.50%
    48% 2 $220,000 $110,000 $2,318 5.13%
    49% 1 $35,000 $35,000 $225 5.74%

    Advantage One Credit Union lent most frequently to those with DTI ratios of 20-30%, with 61 originations. The next most common DTI ratio? 30-36%, with 36 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 211 $11,285,000 $53,483 $854 6.60%
    Not provided 2 $240,000 $120,000 $2,534 4.38%
    Filipino 1 $75,000 $75,000 $510 10.49%
    Black 2 $60,000 $30,000 $233 9.37%
    Asian 1 $25,000 $25,000 $0 10.75%

    Approval Rates

    Total approvals of all applications
    85.66%

    Advantage One Credit Union has an average approval rate.

    Pick Rate

    Approvals leading to origination
    88.94%

    Advantage One Credit Union has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 217 $11,685,000 $53,848

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Single Family (1-4 Units):Manufactured 1 $55,000 $55,000
    Single Family (1-4 Units):Site-Built 216 $11,630,000 $53,843

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 78 $3,510,000 $45,000 $317 7.29%
    40-60% 22 $1,770,000 $80,455 $1,173 6.82%
    60-80% 31 $3,065,000 $98,871 $2,124 5.60%
    80-100% 17 $1,855,000 $109,118 $2,315 4.39%
    Under 20% 69 $1,485,000 $21,522 $221 6.89%