Align Credit Union Mortgage Rates, Fees & Info

Lowell, MA

LEI: 549300XYJEJCSZHWWM52

Tax ID: 04-1680140

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Mortgage Data

Review & Overview

Align Credit Union is a smaller credit union specializing in Cash Out Refi and Home Purchase loans. Align Credit Union has a high proportion of conventional loans. Their top markets by origination volume include: Boston, Providence, Worcester, Keene, and Manchester among others. We have data for 10 markets. (Some data included below & more in-depth data is available with an active subscription.)

Align 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. Align 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 6.13% 10/31/24
30 Year Conventional Refi 6.39% 10/31/24
30 Year Cash-out Refi 6.47% 10/31/24
15 Year Conventional Purchase 4.47% 10/31/24
15 Year Conventional Refi 5.52% 10/31/24
15 Year Cash-out Refi 5.52% 10/31/24
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.

Align Credit Union Mortgage Calculator






Your Estimates

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

This is not an official calculator from Align 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

414

Origination Dollar Volume (All Markets)

$93,280,000

Awards

ALIGN CREDIT UNION 30 Year Conventional Loans gold ALIGN CREDIT UNION 30 Year Conventional Loans silver ALIGN CREDIT UNION 30 Year Conventional Loans gold ALIGN CREDIT UNION 30 Year Conventional Loans gold
Show all (4) 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
Boston-Cambridge-Newton, MA-NH (FHA|USDA|VA) 355 $80,205,000 $225,930 $1,172 2.90%
PROVIDENCE-WARWICK, RI-MA (FHA|USDA|VA) 7 $3,325,000 $475,000 $0 3.87%
WORCESTER, MA-CT (FHA|USDA|VA) 20 $2,260,000 $113,000 $971 3.71%
Keene, NH (FHA|USDA|VA) 1 $1,885,000 $1,885,000 $0 3.88%
MANCHESTER-NASHUA, NH (FHA|USDA|VA) 15 $1,805,000 $120,333 $1,327 2.76%
BARNSTABLE TOWN, MA (FHA|USDA|VA) 6 $1,570,000 $261,667 $2,406 2.96%
PORTLAND-SOUTH PORTLAND, ME (FHA|USDA|VA) 5 $1,035,000 $207,000 $2,002 4.10%
SPRINGFIELD, MA (FHA|USDA|VA) 1 $585,000 $585,000 $0 4.00%
Outside of Metro Areas 2 $410,000 $205,000 $2,850 2.25%
Concord, NH (FHA|USDA|VA) 2 $200,000 $100,000 $0 2.49%
Align Credit Union's top markets include Boston, Providence, Worcester, Keene, and Manchester among others.

Their top states include:
  • Massachusetts (FHA|USDA|VA)
  • New Hampshire (FHA|USDA|VA)
  • Maine (FHA|USDA|VA)
  • Rhode Island (FHA|USDA|VA)
  • Similar Lenders

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

    QUINCY CREDIT UNION
    Similarity Rank: 50
    Direct Federal Credit Union
    Similarity Rank: 115
    Middlesex Savings Bank
    Similarity Rank: 195
    Piscataqua Savings Bank
    Similarity Rank: 200
    ALIGN CREDIT UNION
    Similarity Rank: 200
    North Easton Savings Bank
    Similarity Rank: 348
    ROCKLAND
    Similarity Rank: 360
    Milford Federal Bank
    Similarity Rank: 364

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    HELOC 229 $26,665,000 $116,441 n/a 2.07%
    Conventional 185 $66,615,000 $360,081 $1,225 4.07%

    For 2022, Align Credit Union's most frequently originated type of loan was HELOC, with 229 originations. Their 2nd most popular type was Conventional, with 185 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Cash Out Refi 137 $40,065,000 $292,445 $1,868 2.96%
    Home Improvement 124 $11,370,000 $91,694 $0 2.82%
    Other 102 $9,690,000 $95,000 $0 2.63%
    Home Purchase 38 $29,440,000 $774,737 $3,044 4.38%
    Refi 13 $2,715,000 $208,846 $2,355 2.95%

    For 2022, Align Credit Union's most frequently cited loan purpose was Cash Out Refi, with 137 originations. The 2nd most popular reason was Home Improvement, with 124 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    20 Year 262 $30,510,000 $116,450 $544 2.44%
    15 Year 55 $33,505,000 $609,182 $906 3.83%
    30 Year 47 $15,825,000 $336,702 $2,718 3.66%
    10 Year 44 $12,870,000 $292,500 $90 4.24%
    5 Year 5 $205,000 $41,000 $0 3.40%
    Other 1 $365,000 $365,000 $0 4.25%

    For 2022, Align Credit Union's most frequently cited loan duration was 20 Year, with 262 originations. The 2nd most popular length was 15 Year, with 55 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 130 $20,410,000 $157,000
    $1k-2k 2 $400,000 $200,000
    $2k-3k 2 $790,000 $395,000
    $3k-4k 2 $610,000 $305,000

    Align Credit Union's average total fees were $2,718, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 130 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    <2.5% 229 $29,105,000 $127,096
    3-4% 75 $37,865,000 $504,867
    4-5% 48 $10,890,000 $226,875
    5-6% 33 $6,695,000 $202,879
    2.5-3% 24 $5,140,000 $214,167
    6-7% 5 $3,585,000 $717,000

    During 2022, Align Credit Union's average interest rate for loans was 3.66%, while their most frequently originated rate bucket for loans was <2.5%, with 229 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 164 $8,870,000 $54,085 $102 3.05%
    $100k-200k 116 $15,430,000 $133,017 $1,449 2.44%
    $200k-400k 86 $23,300,000 $270,930 $2,562 2.91%
    $400k-600k 19 $9,345,000 $491,842 $3,099 4.03%
    $600k-1MM 16 $12,560,000 $785,000 $3,655 4.09%
    $1MM+ 13 $23,775,000 $1,828,846 $0 4.09%

    2022 saw Align Credit Union place emphasis on $100,000 or less loans with 164 originations, totaling $8,870,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 129 $16,805,000 $130,271 $1,007 2.90%
    $150k-250k 104 $16,250,000 $156,250 $1,313 2.55%
    $75k-100k 71 $9,075,000 $127,817 $1,416 3.06%
    $50k-75k 31 $3,595,000 $115,968 $1,439 2.89%
    $250k+ 15 $2,455,000 $163,667 $0 2.21%
    $50k or less 13 $995,000 $76,538 $1,367 2.92%

    Align Credit Union lent most frequently to those with incomes in the $100k-150k range, with 129 originations. The second most popular income band? $150k-250k, with 104 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    30-36% 69 $8,095,000 $117,319 $1,028 2.80%
    20-30% 59 $8,345,000 $141,441 $1,363 2.98%
    44% 47 $7,235,000 $153,936 $1,587 2.41%
    43% 29 $4,345,000 $149,828 $1,981 2.36%
    41% 23 $2,765,000 $120,217 $802 2.32%
    42% 22 $3,200,000 $145,455 $605 2.86%
    38% 17 $2,315,000 $136,176 $1,013 2.79%
    39% 15 $1,765,000 $117,667 $1,274 2.33%
    37% 15 $1,565,000 $104,333 $336 3.30%
    40% 13 $1,545,000 $118,846 $737 2.78%
    36% 13 $1,845,000 $141,923 $1,390 3.09%
    <20% 12 $1,200,000 $100,000 $669 3.00%
    50-60% 10 $1,010,000 $101,000 $1,012 3.65%
    45% 7 $1,225,000 $175,000 $2,441 3.03%
    49% 5 $1,185,000 $237,000 $4,114 4.20%
    >60% 5 $715,000 $143,000 $1,061 3.24%
    48% 2 $110,000 $55,000 $0 4.68%
    46% 2 $380,000 $190,000 $1,982 2.50%
    47% 2 $600,000 $300,000 $1,365 5.06%

    Align Credit Union lent most frequently to those with DTI ratios of 30-36%, with 69 originations. The next most common DTI ratio? 20-30%, with 59 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 314 $54,180,000 $172,548 $1,123 2.86%
    Not applicable 32 $28,020,000 $875,625 $0 4.45%
    Not provided 54 $8,130,000 $150,556 $1,563 2.78%
    Asian 11 $1,385,000 $125,909 $1,677 2.79%
    Chinese 1 $815,000 $815,000 $0 3.75%
    Black 1 $665,000 $665,000 $3,655 2.75%
    Asian Indian 1 $85,000 $85,000 $0 1.99%

    Approval Rates

    Total approvals of all applications
    75.39%

    Align Credit Union has a below average approval rate.

    Pick Rate

    Approvals leading to origination
    86.23%

    Align Credit Union has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 414 $93,280,000 $225,314

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    414 $93,280,000 $225,314

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 94 $15,820,000 $168,298 $1,975 2.32%
    40-60% 37 $10,805,000 $292,027 $2,574 3.22%
    60-80% 47 $32,905,000 $700,106 $2,679 3.88%
    80-100% 19 $17,425,000 $917,105 $3,151 4.27%
    Under 20% 217 $16,325,000 $75,230 $118 2.89%