Alliance Credit Union Mortgage Rates, Fees & Info

Lubbock, TX

LEI: 549300YHSRT5YOR5W454

Tax ID: 75-0800435

Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data

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  • SimulatedRates™
  • Mortgage Calculator

    • Mortgage Data

  • Originations
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • Complaints
  • 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

    Alliance Credit Union is a smaller credit union specializing in Home Purchase, Refi, 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.) They have a low ratio of USDA loans. Their top markets by origination volume include: Lubbock, Midland, Plainview, Levelland, and Houston among others. We have data for 18 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Alliance 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. 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.

    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 6.83% 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

    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

    626

    Origination Dollar Volume (All Markets)

    $103,150,000

    Awards

    Alliance Credit Union 30 Year Conventional Loans silver
    Show all (1) 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
    LUBBOCK, TX (FHA|USDA|VA) 577 $93,955,000 $162,834 $3,572 3.63%
    Outside of Metro Areas 15 $2,455,000 $163,667 $3,812 3.75%
    MIDLAND, TX (FHA|USDA|VA) 4 $1,020,000 $255,000 $4,841 4.06%
    Plainview, TX (FHA|USDA|VA) 7 $985,000 $140,714 $4,208 3.91%
    Levelland, TX (FHA|USDA|VA) 7 $985,000 $140,714 $4,801 3.64%
    HOUSTON-THE WOODLANDS-SUGAR LAND, TX (FHA|USDA|VA) 3 $865,000 $288,333 $3,229 3.42%
    Dallas-Fort Worth-Arlington, TX (FHA|USDA|VA) 2 $540,000 $270,000 $3,599 3.25%
    Ruidoso, NM (FHA|USDA|VA) 1 $375,000 $375,000 $4,360 2.88%
    DENVER-AURORA-LAKEWOOD, CO (FHA|USDA|VA) 1 $355,000 $355,000 $4,464 2.63%
    SAN ANTONIO-NEW BRAUNFELS, TX (FHA|USDA|VA) 1 $265,000 $265,000 $4,425 3.50%
    KNOXVILLE, TN (FHA|USDA|VA) 1 $225,000 $225,000 $2,750 3.25%
    Roswell, NM (FHA|USDA|VA) 1 $225,000 $225,000 $2,412 3.63%
    AUSTIN-ROUND ROCK-GEORGETOWN, TX (FHA|USDA|VA) 1 $215,000 $215,000 $4,445 3.75%
    AMARILLO, TX (FHA|USDA|VA) 1 $185,000 $185,000 $6,690 3.00%
    Big Spring, TX (FHA|USDA|VA) 1 $185,000 $185,000 $2,992 2.88%
    Jacksonville, TX (FHA|USDA|VA) 1 $175,000 $175,000 $2,837 3.00%
    Brownwood, TX (FHA|USDA|VA) 1 $75,000 $75,000 $3,432 3.75%
    Lamesa, TX (FHA|USDA|VA) 1 $65,000 $65,000 $5,062 6.75%
    Alliance Credit Union's top markets include Lubbock, Midland, Plainview, Levelland, and Houston among others.

    Their top states include:
  • Texas (FHA|USDA|VA)
  • New Mexico (FHA|USDA|VA)
  • Colorado (FHA|USDA|VA)
  • Tennessee (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.

    Alliance Credit Union
    Similarity Rank: 522
    LRS FINANCIAL NETWORK, INC.
    Similarity Rank: 728
    Southwest Bank
    Similarity Rank: 912
    First United Bank
    Similarity Rank: 1209
    SIWELL, INC.
    Similarity Rank: 1584
    Happy State Bank
    Similarity Rank: 2240
    VILLAGE CAPITAL MORTGAGE
    Similarity Rank: 2358
    INFINITY MORTGAGE HOLDINGS, LLC
    Similarity Rank: 2470
    Amarillo National Bank
    Similarity Rank: 3332
    HOMETRUST MORTGAGE COMPANY
    Similarity Rank: 4416

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 605 $99,415,000 $164,322 $3,524 3.63%
    FHA 12 $2,090,000 $174,167 $6,661 3.73%
    HELOC 4 $370,000 $92,500 n/a 4.13%
    VA 4 $900,000 $225,000 $5,534 2.68%
    USDA 1 $375,000 $375,000 $3,965 3.00%

    For 2020, Alliance Credit Union's most frequently originated type of loan was Conventional, with 605 originations. Their 2nd most popular type was FHA, with 12 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 267 $45,875,000 $171,816 $4,018 3.76%
    Refi 205 $35,345,000 $172,415 $2,952 3.06%
    Cash Out Refi 151 $21,185,000 $140,298 $4,168 4.17%
    Other 3 $745,000 $248,333 $5,827 4.75%

    For 2020, Alliance Credit Union's most frequently cited loan purpose was Home Purchase, with 267 originations. The 2nd most popular reason was Refi, with 205 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 315 $60,865,000 $193,222 $3,733 3.36%
    15 Year 138 $20,300,000 $147,101 $3,341 3.16%
    10 Year 75 $7,715,000 $102,867 $2,566 4.74%
    5 Year 66 $8,640,000 $130,909 $0 4.42%
    20 Year 20 $3,870,000 $193,500 $3,665 3.34%
    1 Year 9 $1,425,000 $158,333 $5,827 5.42%
    Other 3 $335,000 $111,667 $0 5.17%

    For 2020, Alliance Credit Union's most frequently cited loan duration was 30 Year, with 315 originations. The 2nd most popular length was 15 Year, with 138 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 354 $64,220,000 $181,412
    $1k-2k 65 $10,625,000 $163,462
    $2k-3k 34 $5,370,000 $157,941
    $3k-4k 13 $2,745,000 $211,154
    $5k+ 4 $1,530,000 $382,500

    Alliance Credit Union's average total fees were $3,733, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 354 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    2.5-3% 234 $45,230,000 $193,291
    3-4% 161 $26,825,000 $166,615
    4-5% 159 $20,805,000 $130,849
    <2.5% 32 $5,270,000 $164,688
    5-6% 30 $3,970,000 $132,333
    6-7% 8 $860,000 $107,500
    7-8% 2 $190,000 $95,000

    During 2020, Alliance Credit Union's average interest rate for loans was 3.36%, while their most frequently originated rate bucket for loans was 2.5-3%, with 234 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100k-200k 308 $44,050,000 $143,019 $3,402 3.54%
    $200k-400k 163 $43,125,000 $264,571 $4,085 3.32%
    $100,000 or less 143 $10,345,000 $72,343 $2,969 4.23%
    $400k-600k 12 $5,630,000 $469,167 $6,855 3.24%

    2020 saw Alliance Credit Union place emphasis on $100k-200k loans with 308 originations, totaling $44,050,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 134 $18,940,000 $141,343 $3,429 3.38%
    $100k-150k 121 $23,805,000 $196,736 $3,778 3.36%
    $75k-100k 103 $17,945,000 $174,223 $3,559 3.34%
    $150k-250k 71 $16,975,000 $239,085 $4,004 3.61%
    $50k or less 66 $7,460,000 $113,030 $3,303 3.44%
    $250k+ 14 $3,120,000 $222,857 $4,575 3.70%

    Alliance Credit Union lent most frequently to those with incomes in the $50k-75k range, with 134 originations. The second most popular income band? $100k-150k, with 121 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 110 $18,580,000 $168,909 $3,369 3.28%
    30-36% 94 $16,550,000 $176,064 $3,460 3.32%
    <20% 37 $6,535,000 $176,622 $3,453 3.14%
    43% 27 $4,985,000 $184,630 $3,938 3.14%
    44% 22 $4,300,000 $195,455 $3,869 3.39%
    36% 21 $3,655,000 $174,048 $3,654 3.25%
    42% 20 $3,980,000 $199,000 $3,972 3.23%
    41% 18 $3,080,000 $171,111 $3,355 3.24%
    39% 16 $2,630,000 $164,375 $3,609 3.28%
    38% 16 $2,590,000 $161,875 $3,522 3.46%
    40% 16 $3,180,000 $198,750 $4,010 3.42%
    37% 15 $2,935,000 $195,667 $3,937 3.17%
    45% 14 $2,270,000 $162,143 $3,327 3.16%
    48% 13 $2,885,000 $221,923 $3,897 3.04%
    49% 12 $2,900,000 $241,667 $4,317 3.46%
    50-60% 10 $1,880,000 $188,000 $5,953 4.51%
    47% 7 $1,135,000 $162,143 $3,040 2.86%
    46% 6 $830,000 $138,333 $3,054 3.15%
    >60% 1 $135,000 $135,000 $3,414 3.38%

    Alliance Credit Union lent most frequently to those with DTI ratios of 20-30%, with 110 originations. The next most common DTI ratio? 30-36%, with 94 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 418 $71,740,000 $171,627 $3,602 3.42%
    Not applicable 117 $14,905,000 $127,393 $0 4.58%
    Not provided 45 $8,755,000 $194,556 $3,817 3.31%
    Asian 18 $3,570,000 $198,333 $3,709 3.01%
    Black 15 $2,365,000 $157,667 $3,852 3.46%
    Asian Indian 7 $1,125,000 $160,714 $3,181 4.64%
    American Indian 4 $440,000 $110,000 $3,523 3.56%
    Other Asian 1 $155,000 $155,000 $3,200 3.75%
    Native Hawaiian or Islander 1 $95,000 $95,000 $2,481 3.13%

    Approval Rates

    Total approvals of all applications
    79.92%

    Alliance Credit Union has a below average approval rate.

    Pick Rate

    Approvals leading to origination
    72.20%

    Alliance Credit Union has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 626 $103,150,000 $164,776

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Site-Built 2 $820,000 $410,000
    Single Family (1-4 Units):Site-Built 624 $102,330,000 $163,990

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 8 $1,190,000 $148,750 $3,042 2.88%
    40-60% 59 $8,065,000 $136,695 $3,179 3.31%
    60-80% 283 $43,195,000 $152,633 $3,493 3.75%
    80-100% 275 $50,645,000 $184,164 $3,871 3.60%
    Under 20% 1 $55,000 $55,000 $2,069 2.63%

    Complaints

    Bank Name Product Issue 2020 CPFB Complaints % of Total Issues
    Alliance Data Card Services Other type of mortgage Closing on a mortgage 2 66.7%
    Alliance Data Card Services Other type of mortgage Problem with a credit reporting company's investigation into an existing problem 1 33.3%