Alliance Credit Union Mortgage Rates, Fees & Info

Lubbock, TX

LEI: 549300YHSRT5YOR5W454

Tax ID: 75-0800435

4.4 stars - out of 5 stars, based on 23 reviews

2021 Data | 2020 Data | 2019 Data | 2018 Data


Overview

Alliance Credit Union is a smaller credit union specializing in Home Purchase and Cash Out Refi loans. Alliance Credit Union has a high proportion of conventional loans. They have a a low proportion of FHA loans. (This may mean they shy away from first time homebuyers.) Their top markets include Lubbock, Amarillo, Levelland, Dallas, and Houston among others. Alliance Credit Union has an average approval rate for mortages when compared nationally. They have a below average pick rate when compared to the same sample of other lendors. Alliance Credit Union is typically an average fee lendor.


Originations

533

Origination Dollar Volume (All Markets)

$106,185,000

Relative Rate

Alliance Credit Union's average 30 year fixed rate mortgage of loans were 3.43%.

The 2021 average 30 year fixed rate mortgage across all markets of loans were 3.15%.

This yields a difference of 0.28%.

Relative Fees

Alliance Credit Union's average total fees for a 30 year fixed rate mortgage are $4,541.

The average total origination fees for 30 year fixed rate mortgages (for all loan values, including both points & up-front fees in addition to origination fees) are $4,750.

Top Markets

Market Originations Total Value Average Loan Average Fees Average Rate
LUBBOCK, TX (FHA|USDA|VA) 473 $93,605,000 $197,896 $4,383 3.59%
AMARILLO, TX (FHA|USDA|VA) 7 $3,885,000 $555,000 $0 5.21%
Outside of Metro Areas 16 $2,200,000 $137,500 $3,972 3.52%
Levelland, TX (FHA|USDA|VA) 11 $1,825,000 $165,909 $4,680 3.55%
Dallas-Fort Worth-Arlington, TX (FHA|USDA|VA) 8 $1,630,000 $203,750 $4,289 3.02%
HOUSTON-THE WOODLANDS-SUGAR LAND, TX (FHA|USDA|VA) 3 $775,000 $258,333 $4,065 3.04%
Lamesa, TX (FHA|USDA|VA) 6 $660,000 $110,000 $5,135 4.79%
MIDLAND, TX (FHA|USDA|VA) 3 $615,000 $205,000 $5,615 3.38%
Plainview, TX (FHA|USDA|VA) 3 $335,000 $111,667 $4,951 3.71%
MINNEAPOLIS-ST. PAUL-BLOOMINGTON, MN-WI (FHA|USDA|VA) 1 $275,000 $275,000 $3,352 3.38%
LAS VEGAS-HENDERSON-PARADISE, NV (FHA|USDA|VA) 1 $265,000 $265,000 $2,671 3.13%
Hereford, TX (FHA|USDA|VA) 1 $115,000 $115,000 $3,435 3.25%

Alliance Credit Union's top markets include Lubbock, Amarillo, Levelland, Dallas, and Houston among others.

Product Mix

Loan Type Originations Total Value Average Loan Average Fees Average Rate
Conventional 499 $100,565,000 $201,533 $4,195 3.62%
FHA 31 $5,185,000 $167,258 $6,517 3.54%
VA 3 $435,000 $145,000 $5,466 2.80%

For the 2021 period, Alliance Credit Union's most frequently originated loan type of loans were Conventional, with 499 originations. Their 2nd most popular type is FHA, with 31 originations.

Loan Reason

Loan Reason Originations Total Value Average Loan Average Fees Average Rate
Home Purchase 296 $61,840,000 $208,919 $4,896 3.73%
Refi 120 $20,550,000 $171,250 $3,244 3.00%
Cash Out Refi 115 $23,545,000 $204,739 $4,442 3.92%
Other 2 $250,000 $125,000 $6,108 4.63%

For the 2021, Alliance Credit Union's most frequently cited loan purpose of loans were Home Purchase, with 296 originations. The 2nd most popular reason of loans were Refi, with 120 originations.

Loan Duration/Length

Loan Length Originations Total Value Average Loan Average Fees Average Rate
30 Year 300 $63,980,000 $213,267 $4,541 3.43%
15 Year 101 $16,405,000 $162,426 $4,105 3.20%
10 Year 56 $10,020,000 $178,929 $3,558 4.61%
5 Year 40 $9,760,000 $244,000 $0 4.56%
20 Year 15 $2,965,000 $197,667 $3,257 2.99%
1 Year 9 $1,625,000 $180,556 $6,108 4.33%
Other 8 $950,000 $118,750 $3,659 3.66%
3 Year 4 $480,000 $120,000 $0 4.25%

For the 2021, Alliance Credit Union's most frequently cited loan length of loans were 30 Year, with 300 originations. The 2nd most popular length of loans were 15 Year, with 101 originations.

Origination Fees

Origination Fee Originations Total Value Average Loan
$<1k 287 $60,305,000 $210,122
$1k-2k 61 $9,275,000 $152,049
$2k-3k 34 $4,500,000 $132,353
$3k-4k 19 $3,955,000 $208,158
$5k+ 11 $5,205,000 $473,182

$4,541 of loans were Alliance Credit Union's average total fees, while their most frequently occuring range of origination fees were in the $<1k bucket, with 287 originations.

Interest Rates

Loan Rate Originations Total Value Average Loan
2.5-3% 180 $35,800,000 $198,889
3-4% 151 $31,235,000 $206,854
4-5% 128 $20,440,000 $159,688
<2.5% 39 $7,505,000 $192,436
5-6% 25 $8,685,000 $347,400
6-7% 8 $2,300,000 $287,500
7-8% 2 $220,000 $110,000

During 2021, Alliance Credit Union's average interest rate of loans were 3.43%, while their most frequently originated rate bucket of loans were 2.5-3%, with 180 originations.

Loan Sizing

Loan Size Originations Total Value Average Loan Average Fees Average Rate
$100k-200k 243 $34,975,000 $143,930 $3,848 3.40%
$200k-400k 169 $45,105,000 $266,893 $4,757 3.37%
$100,000 or less 87 $6,265,000 $72,011 $4,089 4.42%
$400k-600k 22 $10,380,000 $471,818 $6,201 3.59%
$600k-1MM 10 $6,890,000 $689,000 $11,334 5.49%
$1MM+ 2 $2,570,000 $1,285,000 $0 4.68%

2021 saw Alliance Credit Union place emphasis on $100k-200k loans with 243 originations, totaling $34,975,000 in origination value.

Applicant Income

Applicant Income Originations Total Value Average Loan Average Fees Average Rate
$50k-75k 102 $16,870,000 $165,392 $4,158 3.27%
$100k-150k 101 $21,935,000 $217,178 $4,149 3.32%
$75k-100k 100 $17,980,000 $179,800 $4,089 3.20%
$50k or less 69 $7,505,000 $108,768 $3,956 3.71%
$150k-250k 50 $14,390,000 $287,800 $4,990 3.33%
$250k+ 24 $8,600,000 $358,333 $7,193 4.26%

Alliance Credit Union lent most frequently to those with incomes in the $50k-75k range, with 102 originations. The second most popular income band? $100k-150k, with 101 originations.

Applicant Debt to Income Ratio

DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
30-36% 87 $16,845,000 $193,621 $4,247 3.32%
20-30% 75 $14,905,000 $198,733 $4,124 3.10%
<20% 36 $7,900,000 $219,444 $4,507 3.47%
40% 27 $5,495,000 $203,519 $4,452 3.47%
38% 24 $4,950,000 $206,250 $3,863 3.07%
43% 21 $3,485,000 $165,952 $4,224 3.39%
44% 20 $3,720,000 $186,000 $4,003 3.26%
41% 18 $3,960,000 $220,000 $4,964 3.38%
36% 18 $3,490,000 $193,889 $3,737 3.22%
37% 15 $3,205,000 $213,667 $4,825 3.40%
42% 14 $3,170,000 $226,429 $4,942 3.46%
50-60% 14 $2,420,000 $172,857 $5,902 3.81%
39% 10 $1,610,000 $161,000 $3,833 3.56%
47% 10 $1,900,000 $190,000 $3,662 2.94%
46% 9 $1,765,000 $196,111 $4,274 2.83%
45% 9 $2,135,000 $237,222 $4,675 3.33%
48% 4 $1,500,000 $375,000 $9,412 3.78%
>60% 2 $320,000 $160,000 $4,568 2.81%
49% 2 $860,000 $430,000 $5,336 3.13%

Alliance Credit Union lent most frequently to those with DTI ratios of 30-36%, with 87 originations. The next most common DTI ratio? 20-30%, with 75 originations.

Ethnicity Mix

Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
White 376 $73,190,000 $194,654 $4,429 3.46%
Not applicable 85 $18,745,000 $220,529 $5,380 4.68%
Not provided 38 $7,390,000 $194,474 $4,129 3.15%
Asian 20 $4,640,000 $232,000 $3,999 2.85%
Black 12 $1,920,000 $160,000 $3,838 3.44%
Native Hawaiian 1 $205,000 $205,000 $6,754 2.75%
American Indian 1 $95,000 $95,000 $5,935 3.00%

Approval Rates

Total approvals of all applications
75.10%

Alliance Credit Union has a below average approval rate.

Pick Rate

Approvals leading to origination
76.50%

Alliance Credit Union has a below average pick rate.

Points and Fees

Points Originations Total Value Average Loan
NA 533 $106,185,000 $199,221

Occupancy Type Mix

Dwelling Type Originations Total Value Average Loan
533 $106,185,000 $199,221

LTV Distribution

Loan to Value Originations Total Value Average Loan Average Fees Average Rate
20-40% 10 $910,000 $91,000 $3,982 3.98%
40-60% 50 $7,600,000 $152,000 $4,114 3.28%
60-80% 223 $43,005,000 $192,848 $4,260 3.83%
80-100% 248 $54,280,000 $218,871 $4,538 3.45%
Over 100% 1 $365,000 $365,000 $0 4.50%
Under 20% 1 $25,000 $25,000 $0 5.00%

Complaints

Bank Name Product Issue 2021 CPFB Complaints % of Total Issues
Alliance Data Card Services Conventional home mortgage Applying for a mortgage or refinancing an existing mortgage 1 50.0%
Alliance Data Card Services Other type of mortgage Trouble during payment process 1 50.0%