Alabama One Credit Union Mortgage Rates, Fees & Info

Tuscaloosa, AL

LEI: 549300WOJH0MSG0OIM41

Tax ID: 63-0353833

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
  • Complaints
  • 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

    Alabama One Credit Union is a smaller credit union specializing in Refi, Cash Out Refi, and Home Purchase loans. Alabama One Credit Union has a high proportion of conventional loans. Their top markets by origination volume include: Tuscaloosa, Birmingham, Daphne, Mobile, and Montgomery among others. We have data for 20 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Alabama One Credit Union has an above average approval rate when compared to the average across all lenders. They have a below average pick rate when compared to similar lenders. Alabama 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 11.46% 4/21/24
    30 Year Conventional Refi 10.88% 4/21/24
    30 Year Cash-out Refi 11.26% 4/21/24
    15 Year Conventional Purchase 10.96% 4/21/24
    15 Year Conventional Refi 9.15% 4/21/24
    15 Year Cash-out Refi 9.15% 4/21/24
    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.

    Alabama 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 Alabama 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

    779

    Origination Dollar Volume (All Markets)

    $139,065,000

    Awards

    Alabama One Credit Union 30 Year Conventional Loans silver Alabama One Credit Union 30 Year Conventional Loans bronze
    Show all (2) 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
    TUSCALOOSA, AL (FHA|USDA|VA) 613 $108,045,000 $176,256 $3,077 3.15%
    BIRMINGHAM-HOOVER, AL (FHA|USDA|VA) 55 $11,675,000 $212,273 $3,882 2.90%
    Outside of Metro Areas 49 $6,355,000 $129,694 $2,893 2.94%
    DAPHNE-FAIRHOPE-FOLEY, AL (FHA|USDA|VA) 12 $3,040,000 $253,333 $4,278 3.22%
    MOBILE, AL (FHA|USDA|VA) 14 $2,030,000 $145,000 $3,237 2.95%
    MONTGOMERY, AL (FHA|USDA|VA) 7 $1,905,000 $272,143 $4,279 2.77%
    DOTHAN, AL (FHA|USDA|VA) 9 $1,305,000 $145,000 $2,933 2.68%
    HUNTSVILLE, AL (FHA|USDA|VA) 3 $1,115,000 $371,667 $4,969 3.13%
    Enterprise, AL (FHA|USDA|VA) 3 $905,000 $301,667 $4,541 2.42%
    COLUMBUS, GA-AL (FHA|USDA|VA) 2 $380,000 $190,000 $3,341 2.69%
    ANNISTON-OXFORD, AL (FHA|USDA|VA) 1 $355,000 $355,000 $5,987 2.50%
    Cullman, AL (FHA|USDA|VA) 1 $325,000 $325,000 $4,766 2.25%
    Jasper, AL (FHA|USDA|VA) 1 $255,000 $255,000 $4,106 2.63%
    Ozark, AL (FHA|USDA|VA) 1 $245,000 $245,000 $4,460 2.50%
    PENSACOLA-FERRY PASS-BRENT, FL (FHA|USDA|VA) 2 $240,000 $120,000 $2,136 4.93%
    Columbus, MS (FHA|USDA|VA) 1 $235,000 $235,000 $4,797 3.63%
    Albertville, AL (FHA|USDA|VA) 1 $205,000 $205,000 $3,195 2.50%
    AUBURN-OPELIKA, AL (FHA|USDA|VA) 2 $180,000 $90,000 $1,607 4.19%
    Alexander City, AL (FHA|USDA|VA) 1 $165,000 $165,000 $3,271 2.50%
    CRESTVIEW-FORT WALTON BEACH-DESTIN, FL (FHA|USDA|VA) 1 $105,000 $105,000 $2,499 2.38%
    Alabama One Credit Union's top markets include Tuscaloosa, Birmingham, Daphne, Mobile, and Montgomery among others.

    Their top states include:
  • Alabama (FHA|USDA|VA)
  • Florida (FHA|USDA|VA)
  • Mississippi (FHA|USDA|VA)

    • Similar Lenders

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

    Liberty Mortgage Corporation
    Similarity Rank: 630
    Jefferson Credit Union
    Similarity Rank: 702
    SmartBank
    Similarity Rank: 760
    ALABAMA CREDIT UNION
    Similarity Rank: 775
    First Financial Bank
    Similarity Rank: 918
    Independent Bank
    Similarity Rank: 1200
    Community Bank of Mississippi
    Similarity Rank: 1786
    Alabama One Credit Union
    Similarity Rank: 2300
    Progress Bank and Trust
    Similarity Rank: 2430
    AMERICA'S FIRST
    Similarity Rank: 2635

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 779 $139,065,000 $178,517 $3,172 3.11%

    For 2020, Alabama One Credit Union's most frequently originated type of loan was Conventional, with 779 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Refi 274 $52,880,000 $192,993 $3,226 2.73%
    Cash Out Refi 271 $49,635,000 $183,155 $3,142 2.91%
    Home Purchase 175 $33,125,000 $189,286 $3,859 3.07%
    Other 55 $2,825,000 $51,364 $480 6.00%
    Home Improvement 4 $600,000 $150,000 $2,460 3.53%

    For 2020, Alabama One Credit Union's most frequently cited loan purpose was Refi, with 274 originations. The 2nd most popular reason was Cash Out Refi, with 271 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 341 $73,505,000 $215,557 $3,595 3.13%
    15 Year 275 $43,895,000 $159,618 $3,007 2.89%
    20 Year 79 $14,285,000 $180,823 $3,243 3.00%
    10 Year 68 $5,850,000 $86,029 $1,859 3.77%
    5 Year 13 $485,000 $37,308 $460 4.07%
    Other 3 $1,045,000 $348,333 $4,327 4.04%

    For 2020, Alabama One Credit Union's most frequently cited loan duration was 30 Year, with 341 originations. The 2nd most popular length was 15 Year, with 275 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $1k-2k 335 $61,085,000 $182,343
    $<1k 293 $25,085,000 $85,614
    $2k-3k 115 $34,725,000 $301,957
    $3k-4k 26 $11,030,000 $424,231
    $5k+ 7 $5,445,000 $777,857
    $4k-5k 3 $1,695,000 $565,000

    Alabama One Credit Union's average total fees were $3,595, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 335 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    2.5-3% 358 $73,400,000 $205,028
    <2.5% 202 $32,830,000 $162,525
    3-4% 158 $28,690,000 $181,582
    4-5% 32 $2,450,000 $76,563
    Over 8% 10 $450,000 $45,000
    6-7% 8 $350,000 $43,750
    5-6% 8 $800,000 $100,000
    7-8% 3 $95,000 $31,667

    During 2020, Alabama One Credit Union's average interest rate for loans was 3.13%, while their most frequently originated rate bucket for loans was 2.5-3%, with 358 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100k-200k 307 $45,385,000 $147,834 $2,977 2.85%
    $200k-400k 241 $64,655,000 $268,278 $4,051 2.89%
    $100,000 or less 201 $12,665,000 $63,010 $1,862 3.78%
    $400k-600k 24 $11,020,000 $459,167 $5,597 2.93%
    $600k-1MM 4 $3,070,000 $767,500 $9,946 3.06%
    $1MM+ 2 $2,270,000 $1,135,000 $13,077 3.25%

    2020 saw Alabama One Credit Union place emphasis on $100k-200k loans with 307 originations, totaling $45,385,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 209 $29,265,000 $140,024 $2,864 3.20%
    $100k-150k 199 $42,755,000 $214,849 $3,501 2.97%
    $75k-100k 145 $24,505,000 $169,000 $3,019 3.14%
    $50k or less 126 $12,470,000 $98,968 $2,381 3.24%
    $150k-250k 85 $22,675,000 $266,765 $4,097 3.00%
    $250k+ 13 $7,005,000 $538,846 $6,592 2.89%

    Alabama One Credit Union lent most frequently to those with incomes in the $50k-75k range, with 209 originations. The second most popular income band? $100k-150k, with 199 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 244 $44,310,000 $181,598 $3,123 3.01%
    30-36% 146 $27,710,000 $189,795 $3,306 3.15%
    <20% 144 $24,690,000 $171,458 $3,219 2.86%
    37% 38 $8,020,000 $211,053 $3,502 3.14%
    36% 29 $5,145,000 $177,414 $3,159 3.26%
    43% 28 $5,100,000 $182,143 $3,331 3.23%
    39% 27 $4,915,000 $182,037 $3,402 3.40%
    40% 22 $3,900,000 $177,273 $3,060 3.55%
    41% 22 $3,190,000 $145,000 $2,681 3.36%
    38% 21 $2,885,000 $137,381 $2,719 2.93%
    42% 18 $2,910,000 $161,667 $2,815 3.67%
    44% 18 $2,020,000 $112,222 $2,509 3.68%
    45% 6 $1,000,000 $166,667 $3,045 3.71%
    >60% 4 $490,000 $122,500 $2,654 4.03%
    47% 4 $1,300,000 $325,000 $4,867 3.09%
    48% 2 $260,000 $130,000 $2,792 3.06%
    50-60% 2 $260,000 $130,000 $2,202 2.69%
    46% 1 $265,000 $265,000 $4,487 3.25%
    49% 1 $305,000 $305,000 $5,086 2.75%

    Alabama One Credit Union lent most frequently to those with DTI ratios of 20-30%, with 244 originations. The next most common DTI ratio? 30-36%, with 146 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 648 $118,640,000 $183,086 $3,230 3.09%
    Black 102 $14,480,000 $141,961 $2,690 3.30%
    Not provided 22 $4,330,000 $196,818 $3,448 2.78%
    Asian 3 $1,015,000 $338,333 $4,500 2.79%
    Chinese 1 $205,000 $205,000 $3,283 2.75%
    Not applicable 1 $165,000 $165,000 $4,138 3.00%
    Japanese 1 $155,000 $155,000 $2,784 2.38%
    American Indian 1 $75,000 $75,000 $4,412 3.00%

    Approval Rates

    Total approvals of all applications
    93.22%

    Alabama One Credit Union has an average approval rate.

    Pick Rate

    Approvals leading to origination
    79.97%

    Alabama One Credit Union has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 779 $139,065,000 $178,517

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Single Family (1-4 Units):Manufactured 16 $1,610,000 $100,625
    Single Family (1-4 Units):Site-Built 763 $137,455,000 $180,151

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 55 $3,965,000 $72,091 $1,720 3.51%
    40-60% 120 $19,280,000 $160,667 $2,953 2.75%
    60-80% 339 $64,185,000 $189,336 $3,339 2.92%
    80-100% 230 $50,460,000 $219,391 $3,708 3.03%
    Under 20% 35 $1,175,000 $33,571 $593 5.96%

    Complaints

    Bank Name Product Issue 2020 CPFB Complaints % of Total Issues
    Alabama Housing Finance Authority Conventional home mortgage Applying for a mortgage or refinancing an existing mortgage 1 9.1%
    Alabama Housing Finance Authority Conventional home mortgage Problem with a credit reporting company's investigation into an existing problem 1 9.1%
    Alabama Housing Finance Authority Conventional home mortgage Struggling to pay mortgage 1 9.1%
    Alabama Housing Finance Authority Conventional home mortgage Trouble during payment process 3 27.3%
    Alabama Housing Finance Authority FHA mortgage Struggling to pay mortgage 3 27.3%
    Alabama Housing Finance Authority FHA mortgage Trouble during payment process 2 18.2%