Alliance Credit Union Mortgage Rates, Fees & Info
Lubbock, TXLEI: 549300YHSRT5YOR5W454
Tax ID: 75-0800435
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Mortgage Data
Review & 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. Their top markets by origination volume include: Lubbock, Levelland, Lamesa, Amarillo, and Sulphur Springs among others. We have data for 8 markets. (Some data included below & more in-depth data is available with an active subscription.)Alliance 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. 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 | 6.83% | 4/21/24 |
| 30 Year Conventional Refi | 6.64% | 4/21/24 |
| 30 Year Cash-out Refi | 7.61% | 4/21/24 |
| 30 Year FHA Purchase | 7.51% | 4/21/24 |
| 30 Year VA Purchase | 6.11% | 4/21/24 |
| 15 Year Conventional Purchase | 6.48% | 4/21/24 |
| 15 Year Conventional Refi | 6.13% | 4/21/24 |
| 15 Year Cash-out Refi | 6.13% | 4/21/24 |
| 15 Year FHA Refi | 5.68% | 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. | ||
Alliance Credit Union Mortgage Calculator
Your Estimates
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
345Origination Dollar Volume (All Markets)
$72,945,000Top 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 |
|---|---|---|---|---|---|
| LUBBOCK, TX (FHA|USDA|VA) | 329 | $71,235,000 | $216,520 | $4,278 | 5.97% |
| Levelland, TX (FHA|USDA|VA) | 5 | $775,000 | $155,000 | $0 | 5.03% |
| Lamesa, TX (FHA|USDA|VA) | 4 | $290,000 | $72,500 | $0 | 6.21% |
| AMARILLO, TX (FHA|USDA|VA) | 2 | $270,000 | $135,000 | $0 | 4.06% |
| Sulphur Springs, TX (FHA|USDA|VA) | 1 | $115,000 | $115,000 | $0 | 4.88% |
| Outside of Metro Areas | 2 | $110,000 | $55,000 | $0 | 6.38% |
| WICHITA FALLS, TX (FHA|USDA|VA) | 1 | $75,000 | $75,000 | $0 | 4.88% |
| SAN ANTONIO-NEW BRAUNFELS, TX (FHA|USDA|VA) | 1 | $75,000 | $75,000 | $0 | 4.63% |
Similar Lenders
We use machine learning to identify the top lenders compared against Alliance 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 |
|---|---|---|---|---|---|
| Conventional | 341 | $72,185,000 | $211,686 | $4,278 | 5.95% |
| VA | 4 | $760,000 | $190,000 | $0 | 4.50% |
For 2018, Alliance Credit Union's most frequently originated type of loan was Conventional, with 341 originations. Their 2nd most popular type was VA, with 4 originations.
Loan Reason
For 2018, Alliance Credit Union's most frequently cited loan purpose was Home Purchase, with 162 originations. The 2nd most popular reason was Cash Out Refi, with 149 originations.
Loan Duration/Length
For 2018, Alliance Credit Union's most frequently cited loan duration was 10 Year, with 189 originations. The 2nd most popular length was 30 Year, with 83 originations.
Origination Fees/Closing Costs
| Origination Fee/Closing Cost | Originations | Total Value | Average Loan |
|---|---|---|---|
| $<1k | 1 | $85,000 | $85,000 |
| $2k-3k | 1 | $135,000 | $135,000 |
Alliance Credit Union's average total fees were $0, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 1 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 6-7% | 184 | $49,560,000 | $269,348 |
| 5-6% | 75 | $12,135,000 | $161,800 |
| 4-5% | 68 | $9,560,000 | $140,588 |
| 7-8% | 14 | $1,050,000 | $75,000 |
| 3-4% | 4 | $640,000 | $160,000 |
During 2018, Alliance Credit Union's average interest rate for loans was 5.09%, while their most frequently originated rate bucket for loans was 6-7%, with 184 originations.
Loan Sizing
2018 saw Alliance Credit Union place emphasis on $100k-200k loans with 132 originations, totaling $17,970,000 in origination value.
Applicant Income
Alliance Credit Union lent most frequently to those with incomes in the $50k-75k range, with 39 originations. The second most popular income band? $50k or less, with 33 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| 20-30% | 1 | $85,000 | $85,000 | $3,387 | 4.88% |
| 49% | 1 | $135,000 | $135,000 | $5,170 | 4.88% |
Alliance Credit Union lent most frequently to those with DTI ratios of 20-30%, with 1 originations. The next most common DTI ratio? 49%, with 1 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications92.15%
Alliance Credit Union has an average approval rate.
Pick Rate
Approvals leading to origination84.35%
Alliance Credit Union has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 345 | $72,945,000 | $211,435 |
Occupancy Type Mix
| Dwelling Type | Originations | Total Value | Average Loan |
|---|---|---|---|
| Multifamily:Site-Built | 1 | $245,000 | $245,000 |
| Single Family (1-4 Units):Site-Built | 344 | $72,700,000 | $211,337 |
LTV Distribution
Complaints
| Bank Name | Product | Issue | 2018 CPFB Complaints | % of Total Issues |
|---|---|---|---|---|
| Alliance Data Card Services | Other type of mortgage | Closing on a mortgage | 1 | 100.0% |