Alliance Credit Union Mortgage Rates, Fees & Info

Lubbock, TX

LEI: 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, Dallas, Midland, Levelland, and Plainview among others. We have data for 13 markets. (Some data included below & more in-depth data is available with an active subscription.)

Alliance Credit Union has a below average approval rate when compared to the average across all lenders. They have a below average pick rate when compared to similar lenders. Alliance 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.

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SimulatedRates™

Mortgage Type
Simulated Rate Simulation Date
30 Year Conventional Purchase 6.83% 3/24/24
30 Year Conventional Refi 6.64% 3/24/24
30 Year Cash-out Refi 7.61% 3/24/24
30 Year FHA Purchase 7.51% 3/24/24
30 Year VA Purchase 6.11% 3/24/24
15 Year Conventional Purchase 6.48% 3/24/24
15 Year Conventional Refi 6.13% 3/24/24
15 Year Cash-out Refi 6.13% 3/24/24
15 Year FHA Refi 5.68% 3/24/24
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

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

This is not an official calculator from Alliance 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

258

Origination Dollar Volume (All Markets)

$38,620,000

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
LUBBOCK, TX (FHA|USDA|VA) 231 $34,385,000 $148,853 $4,104 5.54%
Outside of Metro Areas 8 $900,000 $112,500 $3,653 5.25%
Dallas-Fort Worth-Arlington, TX (FHA|USDA|VA) 3 $875,000 $291,667 $6,931 4.63%
MIDLAND, TX (FHA|USDA|VA) 2 $590,000 $295,000 $4,403 4.44%
Levelland, TX (FHA|USDA|VA) 3 $415,000 $138,333 $3,982 5.83%
Plainview, TX (FHA|USDA|VA) 2 $350,000 $175,000 $4,744 3.87%
ALBUQUERQUE, NM (FHA|USDA|VA) 1 $295,000 $295,000 $5,312 3.50%
Lamesa, TX (FHA|USDA|VA) 3 $275,000 $91,667 $0 6.63%
VICTORIA, TX (FHA|USDA|VA) 1 $155,000 $155,000 $3,221 4.88%
AMARILLO, TX (FHA|USDA|VA) 1 $125,000 $125,000 $3,187 3.75%
Big Spring, TX (FHA|USDA|VA) 1 $105,000 $105,000 $3,333 3.88%
AUSTIN-ROUND ROCK-GEORGETOWN, TX (FHA|USDA|VA) 1 $95,000 $95,000 $4,187 3.49%
WICHITA FALLS, TX (FHA|USDA|VA) 1 $55,000 $55,000 $2,549 3.50%
Alliance Credit Union's top markets include Lubbock, Dallas, Midland, Levelland, and Plainview among others.

Their top states include:
  • Texas (FHA|USDA|VA)
  • New Mexico (FHA|USDA|VA)
  • 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 252 $37,250,000 $147,817 $4,015 5.52%
    VA 6 $1,370,000 $228,333 $7,271 3.71%

    For 2019, Alliance Credit Union's most frequently originated type of loan was Conventional, with 252 originations. Their 2nd most popular type was VA, with 6 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 152 $23,700,000 $155,921 $4,078 5.23%
    Cash Out Refi 83 $11,585,000 $139,578 $4,403 6.15%
    Refi 22 $3,230,000 $146,818 $3,752 4.76%
    Home Improvement 1 $105,000 $105,000 $3,533 3.88%

    For 2019, Alliance Credit Union's most frequently cited loan purpose was Home Purchase, with 152 originations. The 2nd most popular reason was Cash Out Refi, with 83 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 120 $20,290,000 $169,083 $4,146 4.81%
    10 Year 81 $11,955,000 $147,593 $3,738 6.43%
    15 Year 45 $5,065,000 $112,556 $4,140 5.42%
    20 Year 4 $660,000 $165,000 $3,914 4.25%
    1 Year 4 $430,000 $107,500 $0 7.50%
    5 Year 3 $155,000 $51,667 $0 6.00%
    Other 1 $65,000 $65,000 $0 6.50%

    For 2019, Alliance Credit Union's most frequently cited loan duration was 30 Year, with 120 originations. The 2nd most popular length was 10 Year, with 81 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 106 $16,710,000 $157,642
    $1k-2k 34 $4,210,000 $123,824
    $2k-3k 20 $2,320,000 $116,000
    $3k-4k 10 $1,810,000 $181,000
    $5k+ 3 $1,135,000 $378,333
    $4k-5k 1 $335,000 $335,000

    Alliance Credit Union's average total fees were $4,146, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 106 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    6-7% 86 $11,570,000 $134,535
    3-4% 56 $10,200,000 $182,143
    4-5% 55 $8,605,000 $156,455
    5-6% 42 $6,430,000 $153,095
    7-8% 16 $1,530,000 $95,625
    Over 8% 3 $285,000 $95,000

    During 2019, Alliance Credit Union's average interest rate for loans was 4.81%, while their most frequently originated rate bucket for loans was 6-7%, with 86 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100k-200k 113 $15,705,000 $138,982 $3,776 5.11%
    $100,000 or less 98 $6,470,000 $66,020 $3,796 6.16%
    $200k-400k 38 $10,300,000 $271,053 $5,117 4.72%
    $400k-600k 6 $2,960,000 $493,333 $8,418 5.62%
    $1MM+ 2 $2,250,000 $1,125,000 $0 6.31%
    $600k-1MM 1 $935,000 $935,000 $0 6.88%

    2019 saw Alliance Credit Union place emphasis on $100k-200k loans with 113 originations, totaling $15,705,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 53 $6,535,000 $123,302 $3,745 5.27%
    $50k or less 41 $4,315,000 $105,244 $3,477 5.14%
    $100k-150k 37 $6,085,000 $164,459 $4,139 5.02%
    $75k-100k 35 $5,185,000 $148,143 $4,071 5.04%
    $150k-250k 15 $3,725,000 $248,333 $5,409 4.09%
    $250k+ 11 $2,295,000 $208,636 $9,343 6.03%

    Alliance Credit Union lent most frequently to those with incomes in the $50k-75k range, with 53 originations. The second most popular income band? $50k or less, with 41 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 41 $6,655,000 $162,317 $4,287 4.71%
    30-36% 20 $2,840,000 $142,000 $3,842 4.65%
    <20% 13 $1,635,000 $125,769 $4,416 4.62%
    41% 13 $1,745,000 $134,231 $3,485 4.91%
    39% 11 $1,675,000 $152,273 $3,541 5.24%
    44% 10 $1,360,000 $136,000 $4,177 5.44%
    38% 9 $1,605,000 $178,333 $3,568 4.17%
    40% 9 $1,445,000 $160,556 $4,118 4.63%
    36% 8 $1,400,000 $175,000 $3,812 4.92%
    42% 7 $715,000 $102,143 $3,905 5.80%
    49% 6 $910,000 $151,667 $5,186 6.25%
    37% 6 $720,000 $120,000 $3,566 5.13%
    43% 6 $870,000 $145,000 $3,710 5.21%
    48% 5 $955,000 $191,000 $4,176 4.90%
    46% 4 $950,000 $237,500 $7,700 4.75%
    47% 2 $260,000 $130,000 $4,559 5.88%
    45% 2 $250,000 $125,000 $4,676 6.75%
    50-60% 1 $185,000 $185,000 $5,704 7.00%
    >60% 1 $345,000 $345,000 $4,434 3.63%

    Alliance Credit Union lent most frequently to those with DTI ratios of 20-30%, with 41 originations. The next most common DTI ratio? 30-36%, with 20 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 175 $25,365,000 $144,943 $4,148 5.13%
    Not applicable 65 $10,385,000 $159,769 $0 6.56%
    Not provided 9 $1,395,000 $155,000 $3,895 4.78%
    Black 5 $865,000 $173,000 $4,026 5.25%
    Asian 3 $465,000 $155,000 $3,958 4.96%
    American Indian 1 $145,000 $145,000 $3,389 4.50%

    Approval Rates

    Total approvals of all applications
    65.11%

    Alliance Credit Union has a low approval rate. They may have poor market targeting or stringent lending standards.

    Pick Rate

    Approvals leading to origination
    72.48%

    Alliance Credit Union has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 258 $38,620,000 $149,690

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Site-Built 6 $4,610,000 $768,333
    Single Family (1-4 Units):Manufactured 1 $135,000 $135,000
    Single Family (1-4 Units):Site-Built 251 $33,875,000 $134,960

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 8 $560,000 $70,000 $4,015 5.66%
    40-60% 24 $2,450,000 $102,083 $3,926 5.54%
    60-80% 96 $15,420,000 $160,625 $4,465 5.82%
    80-100% 129 $19,965,000 $154,767 $3,990 5.19%
    Over 100% 1 $225,000 $225,000 $0 6.88%

    Complaints

    Bank Name Product Issue 2019 CPFB Complaints % of Total Issues
    Alliance Data Card Services Other type of mortgage Applying for a mortgage or refinancing an existing mortgage 1 100.0%