Align Credit Union Mortgage Rates, Fees & Info

Lowell, MA

LEI: 549300XYJEJCSZHWWM52

Tax ID: 04-1680140

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

    Align Credit Union is a smaller credit union specializing in Cash Out Refi, Refi, and Home Purchase loans. Align Credit Union has a high proportion of conventional loans. Their top markets by origination volume include: Boston, Manchester, Portland, Providence, and Lebanon 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% 12/2/24
    30 Year Conventional Refi 6.39% 12/2/24
    30 Year Cash-out Refi 6.47% 12/2/24
    15 Year Conventional Purchase 4.47% 12/2/24
    15 Year Conventional Refi 5.52% 12/2/24
    15 Year Cash-out Refi 5.52% 12/2/24
    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

    203

    Origination Dollar Volume (All Markets)

    $58,135,000

    Awards

    ALIGN CREDIT UNION 30 Year Conventional Loans silver ALIGN 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
    Boston-Cambridge-Newton, MA-NH (FHA|USDA|VA) 173 $49,065,000 $283,613 $2,416 3.14%
    MANCHESTER-NASHUA, NH (FHA|USDA|VA) 14 $2,970,000 $212,143 $2,142 3.22%
    PORTLAND-SOUTH PORTLAND, ME (FHA|USDA|VA) 4 $1,880,000 $470,000 $2,301 3.97%
    PROVIDENCE-WARWICK, RI-MA (FHA|USDA|VA) 3 $1,285,000 $428,333 $3,379 3.46%
    Lebanon, NH-VT (FHA|USDA|VA) 1 $1,205,000 $1,205,000 $0 4.30%
    WORCESTER, MA-CT (FHA|USDA|VA) 4 $830,000 $207,500 $2,602 3.25%
    Concord, NH (FHA|USDA|VA) 1 $385,000 $385,000 $3,034 3.13%
    Outside of Metro Areas 1 $215,000 $215,000 $2,624 3.50%
    Laconia, NH (FHA|USDA|VA) 1 $165,000 $165,000 $4,610 3.38%
    SPRINGFIELD, MA (FHA|USDA|VA) 1 $135,000 $135,000 $2,670 2.38%
    Align Credit Union's top markets include Boston, Manchester, Portland, Providence, and Lebanon among others.

    Their top states include:
  • Massachusetts (FHA|USDA|VA)
  • New Hampshire (FHA|USDA|VA)
  • Maine (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.

    Sharon & Crescent United Credit Union
    Similarity Rank: 335
    LUSO-AMERICAN CREDIT UNION
    Similarity Rank: 474
    Middlesex Savings Bank
    Similarity Rank: 672
    Bridgewater Savings Bank
    Similarity Rank: 672
    East Boston Savings Bank
    Similarity Rank: 755
    Piscataqua Savings Bank
    Similarity Rank: 789
    Norwood Co-operative Bank
    Similarity Rank: 820
    QUINCY CREDIT UNION
    Similarity Rank: 900
    HARVARD UNIVERSITY EMPLOYEES
    Similarity Rank: 1001
    Walpole Co-operative Bank
    Similarity Rank: 1052

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 203 $58,135,000 $286,379 $2,423 3.17%

    For 2021, Align Credit Union's most frequently originated type of loan was Conventional, with 203 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Cash Out Refi 108 $29,920,000 $277,037 $2,461 3.24%
    Refi 57 $14,005,000 $245,702 $2,371 2.86%
    Home Purchase 29 $13,455,000 $463,966 $3,127 3.29%
    Home Improvement 8 $590,000 $73,750 $298 4.02%
    Other 1 $165,000 $165,000 $4,610 3.38%

    For 2021, Align Credit Union's most frequently cited loan purpose was Cash Out Refi, with 108 originations. The 2nd most popular reason was Refi, with 57 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 109 $31,675,000 $290,596 $2,885 3.13%
    15 Year 52 $19,820,000 $381,154 $2,096 3.26%
    20 Year 20 $4,160,000 $208,000 $1,994 3.37%
    10 Year 15 $1,915,000 $127,667 $1,382 2.92%
    5 Year 6 $290,000 $48,333 $0 3.00%
    Other 1 $275,000 $275,000 $0 4.25%

    For 2021, Align Credit Union's most frequently cited loan duration was 30 Year, with 109 originations. The 2nd most popular length was 15 Year, with 52 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 157 $37,165,000 $236,720
    $1k-2k 7 $1,295,000 $185,000
    $2k-3k 5 $1,455,000 $291,000
    $3k-4k 4 $1,210,000 $302,500
    $4k-5k 2 $610,000 $305,000
    $5k+ 1 $575,000 $575,000

    Align Credit Union's average total fees were $2,885, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 157 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    2.5-3% 85 $20,505,000 $241,235
    3-4% 72 $26,820,000 $372,500
    <2.5% 28 $5,460,000 $195,000
    4-5% 15 $5,095,000 $339,667
    5-6% 3 $255,000 $85,000

    During 2021, Align 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 85 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 98 $28,350,000 $289,286 $2,781 3.08%
    $100k-200k 49 $7,355,000 $150,102 $2,285 2.87%
    $400k-600k 22 $10,430,000 $474,091 $3,765 3.50%
    $100,000 or less 21 $1,065,000 $50,714 $301 3.61%
    $600k-1MM 10 $7,530,000 $753,000 $3,627 3.64%
    $1MM+ 3 $3,405,000 $1,135,000 $0 3.98%

    2021 saw Align Credit Union place emphasis on $200k-400k loans with 98 originations, totaling $28,350,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 50 $12,980,000 $259,600 $2,391 3.08%
    $75k-100k 39 $8,715,000 $223,462 $2,609 3.06%
    $150k-250k 38 $11,670,000 $307,105 $2,267 3.07%
    $50k-75k 29 $4,905,000 $169,138 $2,084 3.06%
    $50k or less 12 $1,860,000 $155,000 $2,528 2.92%
    $250k+ 8 $2,900,000 $362,500 $3,261 3.56%

    Align Credit Union lent most frequently to those with incomes in the $100k-150k range, with 50 originations. The second most popular income band? $75k-100k, with 39 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 54 $12,160,000 $225,185 $2,284 3.05%
    30-36% 39 $10,215,000 $261,923 $2,326 3.16%
    <20% 14 $3,060,000 $218,571 $2,256 2.83%
    42% 8 $2,420,000 $302,500 $3,058 3.16%
    39% 8 $2,530,000 $316,250 $3,242 3.39%
    38% 7 $1,755,000 $250,714 $2,803 2.89%
    44% 7 $1,005,000 $143,571 $1,753 3.34%
    36% 6 $2,400,000 $400,000 $3,273 3.04%
    41% 6 $860,000 $143,333 $2,818 2.85%
    37% 5 $815,000 $163,000 $1,250 3.13%
    43% 5 $1,425,000 $285,000 $2,716 2.95%
    40% 4 $1,150,000 $287,500 $2,560 2.88%
    50-60% 4 $630,000 $157,500 $1,227 3.25%
    47% 4 $880,000 $220,000 $2,670 2.94%
    46% 3 $645,000 $215,000 $2,668 2.92%
    >60% 2 $490,000 $245,000 $4,502 3.25%
    45% 2 $630,000 $315,000 $3,031 3.38%
    49% 1 $405,000 $405,000 $3,055 3.00%
    48% 1 $305,000 $305,000 $2,016 3.00%

    Align Credit Union lent most frequently to those with DTI ratios of 20-30%, with 54 originations. The next most common DTI ratio? 30-36%, with 39 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 138 $36,060,000 $261,304 $2,431 3.12%
    Not provided 41 $10,075,000 $245,732 $2,406 3.14%
    Not applicable 16 $9,720,000 $607,500 $0 3.85%
    Asian 5 $1,125,000 $225,000 $2,276 2.98%
    Black 2 $670,000 $335,000 $2,547 2.50%
    Chinese 1 $485,000 $485,000 $0 3.50%

    Approval Rates

    Total approvals of all applications
    75.55%

    Align Credit Union has a below average approval rate.

    Pick Rate

    Approvals leading to origination
    59.61%

    Align 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
    NA 203 $58,135,000 $286,379

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    203 $58,135,000 $286,379

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 35 $6,105,000 $174,429 $2,322 2.72%
    40-60% 50 $12,790,000 $255,800 $2,687 2.99%
    60-80% 76 $30,140,000 $396,579 $3,050 3.34%
    80-100% 15 $6,955,000 $463,667 $2,739 3.43%
    Under 20% 27 $2,145,000 $79,444 $654 3.46%