Ashland Credit Union Mortgage Rates, Fees & Info
ASHLAND, KYLEI: 549300ZUA8339ZH6W934
Tax ID: 61-6024972
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Mortgage Data
Review & Overview
Ashland Credit Union is a smaller credit union specializing in Cash Out Refi loans. Ashland Credit Union has an average proportion of conventional loans. They have a low ratio of USDA loans. Their top markets by origination volume include: Huntington, Minneapolis, Lexington, Columbus, and Atlanta among others. We have data for 47 markets. (Some data included below & more in-depth data is available with an active subscription.)Ashland 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. Ashland Credit Union is typically an average 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 relatively high 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 | 7.03% | 4/21/24 |
| 30 Year Conventional Refi | 6.80% | 4/21/24 |
| 30 Year Cash-out Refi | 7.20% | 4/21/24 |
| 30 Year FHA Purchase | 6.75% | 4/21/24 |
| 30 Year VA Purchase | 6.42% | 4/21/24 |
| 30 Year USDA Purchase | 6.68% | 4/21/24 |
| 15 Year Conventional Purchase | 6.42% | 4/21/24 |
| 15 Year Conventional Refi | 6.09% | 4/21/24 |
| 15 Year Cash-out Refi | 6.09% | 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. | ||
Ashland Credit Union Mortgage Calculator
Your Estimates
Estimated Loan Payment: Update the calculator values and click calculate payment!
This is not an official calculator from Ashland 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
223Origination Dollar Volume (All Markets)
$20,295,000Relative Rate
Ashland Credit Union's average 30 year fixed mortgage rate was
7.07%.
The 2023 average 30 year fixed rate mortgage across all markets and lenders was 6.48%.
This yields a difference of 0.59%.
Relative Fees (Closing Costs)
Ashland Credit Union's average total fees/closing costs for a 30 year fixed rate
mortgage were $4,732.
The average total origination fees for 30 year fixed rate mortgages across all lenders (for all loan values, including
both points & up-front fees in addition to origination fees) were $9,089.
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 |
|---|---|---|---|---|---|
| HUNTINGTON-ASHLAND, WV-KY-OH (FHA|USDA|VA) | 106 | $8,880,000 | $83,774 | $3,179 | 7.25% |
| MINNEAPOLIS-ST. PAUL-BLOOMINGTON, MN-WI (FHA|USDA|VA) | 22 | $2,360,000 | $107,273 | $6,792 | 6.51% |
| LEXINGTON-FAYETTE, KY (FHA|USDA|VA) | 11 | $1,835,000 | $166,818 | $14,699 | 6.77% |
| Outside of Metro Areas | 22 | $1,760,000 | $80,000 | $2,063 | 6.74% |
| COLUMBUS, OH (FHA|USDA|VA) | 10 | $660,000 | $66,000 | $1,500 | 6.86% |
| ATLANTA-SANDY SPRINGS-ALPHARETTA, GA (FHA|USDA|VA) | 3 | $415,000 | $138,333 | $0 | 7.00% |
| TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) | 2 | $300,000 | $150,000 | $4,343 | 6.19% |
| GREENSBORO-HIGH POINT, NC (FHA|USDA|VA) | 1 | $255,000 | $255,000 | $0 | 7.00% |
| Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) | 1 | $255,000 | $255,000 | $0 | 4.75% |
| New York-Newark-Jersey City, NY-NJ-PA (FHA|USDA|VA) | 1 | $245,000 | $245,000 | $0 | 7.00% |
| North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) | 1 | $225,000 | $225,000 | $1,500 | 6.63% |
| LOUISVILLE, KY (FHA|USDA|VA) | 3 | $215,000 | $71,667 | $0 | 6.17% |
| Clarksburg, WV (FHA|USDA|VA) | 2 | $210,000 | $105,000 | $5,770 | 7.44% |
| CHARLESTON, WV (FHA|USDA|VA) | 1 | $195,000 | $195,000 | $7,885 | 6.25% |
| PALM BAY-MELBOURNE-TITUSVILLE, FL (FHA|USDA|VA) | 1 | $185,000 | $185,000 | $0 | 7.75% |
| DELTONA-DAYTONA BEACH-ORMOND BEACH, FL (FHA|USDA|VA) | 1 | $175,000 | $175,000 | $0 | 4.50% |
| Mount Sterling, KY (FHA|USDA|VA) | 2 | $160,000 | $80,000 | $0 | 7.13% |
| CRESTVIEW-FORT WALTON BEACH-DESTIN, FL (FHA|USDA|VA) | 1 | $135,000 | $135,000 | $0 | 9.25% |
| RICHMOND, VA (FHA|USDA|VA) | 2 | $130,000 | $65,000 | $0 | 8.50% |
| FAYETTEVILLE-SPRINGDALE-ROGERS, AR (FHA|USDA|VA) | 1 | $125,000 | $125,000 | $0 | 7.50% |
| HOUSTON-THE WOODLANDS-SUGAR LAND, TX (FHA|USDA|VA) | 1 | $115,000 | $115,000 | $1,500 | 7.13% |
| NEW ORLEANS-METAIRIE, LA (FHA|USDA|VA) | 1 | $105,000 | $105,000 | $0 | 7.25% |
| BECKLEY, WV (FHA|USDA|VA) | 2 | $100,000 | $50,000 | $0 | 7.38% |
| Gillette, WY (FHA|USDA|VA) | 1 | $85,000 | $85,000 | $0 | 6.75% |
| Chicago-Naperville-Elgin, IL-IN-WI (FHA|USDA|VA) | 2 | $80,000 | $40,000 | $0 | 5.63% |
| Brainerd, MN (FHA|USDA|VA) | 1 | $75,000 | $75,000 | $0 | 7.00% |
| Fairmont, WV (FHA|USDA|VA) | 1 | $75,000 | $75,000 | $1,500 | 9.25% |
| Statesboro, GA (FHA|USDA|VA) | 1 | $75,000 | $75,000 | $0 | 7.00% |
| HAMMOND, LA (FHA|USDA|VA) | 1 | $65,000 | $65,000 | $1,500 | 6.88% |
| NASHVILLE-DAVIDSON-MURFREESBORO-FRANKLIN, TN (FHA|USDA|VA) | 1 | $65,000 | $65,000 | $0 | 6.75% |
| JOPLIN, MO (FHA|USDA|VA) | 1 | $55,000 | $55,000 | $0 | 8.50% |
| AKRON, OH (FHA|USDA|VA) | 1 | $55,000 | $55,000 | $0 | 7.75% |
| Mount Gay-Shamrock, WV (FHA|USDA|VA) | 1 | $55,000 | $55,000 | $1,500 | 9.00% |
| Wooster, OH (FHA|USDA|VA) | 1 | $55,000 | $55,000 | $0 | 5.25% |
| CANTON-MASSILLON, OH (FHA|USDA|VA) | 1 | $55,000 | $55,000 | $0 | 7.00% |
| OCALA, FL (FHA|USDA|VA) | 1 | $55,000 | $55,000 | $0 | 7.75% |
| Bluefield, WV-VA (FHA|USDA|VA) | 1 | $45,000 | $45,000 | $0 | 8.50% |
| LaGrange, GA-AL (FHA|USDA|VA) | 1 | $45,000 | $45,000 | $0 | 4.75% |
| Los Angeles-Long Beach-Anaheim, CA (FHA|USDA|VA) | 1 | $45,000 | $45,000 | $0 | 6.75% |
| Elkins, WV (FHA|USDA|VA) | 1 | $45,000 | $45,000 | $0 | 7.00% |
| GREENVILLE-ANDERSON, SC (FHA|USDA|VA) | 1 | $45,000 | $45,000 | $0 | 7.50% |
| Hobbs, NM (FHA|USDA|VA) | 1 | $35,000 | $35,000 | $0 | 8.50% |
| MORGANTOWN, WV (FHA|USDA|VA) | 1 | $35,000 | $35,000 | $0 | 8.50% |
| Portsmouth, OH (FHA|USDA|VA) | 1 | $35,000 | $35,000 | $0 | 9.00% |
| BOWLING GREEN, KY (FHA|USDA|VA) | 1 | $25,000 | $25,000 | $0 | 7.75% |
| CINCINNATI, OH-KY-IN (FHA|USDA|VA) | 1 | $25,000 | $25,000 | $0 | 7.50% |
| ALLENTOWN-BETHLEHEM-EASTON, PA-NJ (FHA|USDA|VA) | 1 | $25,000 | $25,000 | $0 | 9.00% |
Similar Lenders
We use machine learning to identify the top lenders compared against ASHLAND 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
For 2023, Ashland Credit Union's most frequently originated type of loan was HELOC, with 188 originations. Their 2nd most popular type was Conventional, with 33 originations.
Loan Reason
For 2023, Ashland Credit Union's most frequently cited loan purpose was Cash Out Refi, with 193 originations. The 2nd most popular reason was Home Purchase, with 18 originations.
Loan Duration/Length
For 2023, Ashland Credit Union's most frequently cited loan duration was 15 Year, with 203 originations. The 2nd most popular length was 30 Year, with 19 originations.
Origination Fees/Closing Costs
Ashland Credit Union's average total fees were $4,732, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 19 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 7-8% | 72 | $6,590,000 | $91,528 |
| 6-7% | 70 | $6,630,000 | $94,714 |
| Over 8% | 43 | $2,895,000 | $67,326 |
| 4-5% | 30 | $3,020,000 | $100,667 |
| 5-6% | 8 | $1,160,000 | $145,000 |
During 2023, Ashland Credit Union's average interest rate for loans was 7.07%, while their most frequently originated rate bucket for loans was 7-8%, with 72 originations.
Loan Sizing
2023 saw Ashland Credit Union place emphasis on $100,000 or less loans with 159 originations, totaling $8,805,000 in origination value.
Applicant Income
Ashland Credit Union lent most frequently to those with incomes in the $100k-150k range, with 74 originations. The second most popular income band? $150k-250k, with 44 originations.
Applicant Debt to Income Ratio
Ashland Credit Union lent most frequently to those with DTI ratios of 43%, with 199 originations. The next most common DTI ratio? 20-30%, with 9 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications75.24%
Ashland Credit Union has a below average approval rate.
Pick Rate
Approvals leading to origination62.78%
Ashland Credit Union has a low pick rate. They may have issues with closing loans or may approve everyone, but with onerous loan terms.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| 0.0 | 176 | $14,390,000 | $81,761 |
| 1000.0 | 1 | $35,000 | $35,000 |
| 1759.0 | 1 | $75,000 | $75,000 |
| 500.0 | 8 | $280,000 | $35,000 |
| 679.0 | 1 | $65,000 | $65,000 |
| 684.4 | 1 | $35,000 | $35,000 |
| NA | 35 | $5,415,000 | $154,714 |