Align Credit Union Mortgage Rates, Fees & Info
Lowell, MALEI: 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.
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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| 30 Year Conventional Purchase | 6.13% | 11/1/24 |
| 30 Year Conventional Refi | 6.39% | 11/1/24 |
| 30 Year Cash-out Refi | 6.47% | 11/1/24 |
| 15 Year Conventional Purchase | 4.47% | 11/1/24 |
| 15 Year Conventional Refi | 5.52% | 11/1/24 |
| 15 Year Cash-out Refi | 5.52% | 11/1/24 |
| 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
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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
414Origination Dollar Volume (All Markets)
$93,280,000Awards
ALIGN CREDIT UNION - 2022
ALIGN CREDIT UNION is a 2022 , due to their low .
For 2022, less than of lenders were eligible for this award.
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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% |
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.
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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
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
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
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
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
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
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
Approval Rates
Total approvals of all applications75.39%
Align Credit Union has a below average approval rate.
Pick Rate
Approvals leading to origination86.23%
Align Credit Union has an average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 414 | $93,280,000 | $225,314 |