Alliance Credit Union Mortgage Rates, Fees & Info
Lubbock, TXLEI: 549300YHSRT5YOR5W454
Tax ID: 75-0800435
Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data
Jump to:
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. They have a a low proportion of FHA loans. (This may mean they shy away from first time homebuyers.) Their top markets by origination volume include: Lubbock, Amarillo, Levelland, Dallas, and Houston among others. We have data for 12 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.
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% | 12/16/24 |
| 30 Year Conventional Refi | 6.64% | 12/16/24 |
| 30 Year Cash-out Refi | 7.61% | 12/16/24 |
| 30 Year FHA Purchase | 7.51% | 12/16/24 |
| 30 Year VA Purchase | 6.11% | 12/16/24 |
| 15 Year Conventional Purchase | 6.48% | 12/16/24 |
| 15 Year Conventional Refi | 6.13% | 12/16/24 |
| 15 Year Cash-out Refi | 6.13% | 12/16/24 |
| 15 Year FHA Refi | 5.68% | 12/16/24 |
| 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
533Origination Dollar Volume (All Markets)
$106,185,000Top 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) | 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% |
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.
Similarity Rank: 608
Similarity Rank: 1044
Similarity Rank: 1190
Similarity Rank: 1615
Similarity Rank: 2590
Similarity Rank: 2880
Similarity Rank: 3368
Similarity Rank: 3588
Similarity Rank: 3740
Similarity Rank: 3937
Product Mix
For 2021, Alliance Credit Union's most frequently originated type of loan was Conventional, with 495 originations. Their 2nd most popular type was FHA, with 31 originations.
Loan Reason
For 2021, Alliance Credit Union's most frequently cited loan purpose was Home Purchase, with 296 originations. The 2nd most popular reason was Refi, with 120 originations.
Loan Duration/Length
For 2021, Alliance Credit Union's most frequently cited loan duration was 30 Year, with 300 originations. The 2nd most popular length was 15 Year, with 101 originations.
Origination Fees/Closing Costs
Alliance Credit Union's average total fees were $4,541, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 287 originations.
Interest Rates
During 2021, Alliance Credit Union's average interest rate for loans was 3.43%, while their most frequently originated rate bucket for loans was 2.5-3%, with 180 originations.
Loan Sizing
2021 saw Alliance Credit Union place emphasis on $100k-200k loans with 243 originations, totaling $34,975,000 in origination value.
Applicant Income
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
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
Approval Rates
Total approvals of all applications67.71%
Alliance Credit Union has a low approval rate. They may have poor market targeting or stringent lending standards.
Pick Rate
Approvals leading to origination78.42%
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 |
LTV Distribution
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% |