Is Atlanta Postal Credit Union An Expensive Mortgage Lender?

We compare mortgage interest rate and loan related closing costs at Atlanta Postal Credit Union with other lenders for mortgages with similar borrower characteristics:

Interest Rate: lower than average (-0.15%)
Loan Related Closing Costs: lower than average (-$543)
Assessment: this lender tends to be a cheap lender.

This scoreboard is based on data reported to FFIEC. In the data, Atlanta Postal Credit Union originated 540 mortgages, a national market share of 0.0%. It was most active in GA (0.2% market share), AL (0.0% market share), and WV (0.0% market share).

On average, Atlanta Postal Credit Union’s interest rates were lower than those of comparable mortgages at other lenders (-0.15%).1The comparable mortgages control for Atlanta Postal Credit Union’s distribution of loan term (e.g. 30 year vs 15 year), loan-to-value (LTV), debt-to-income (DTI), loan amount, loan program (e.g. Conforming/FHA), loan purpose (e.g. purchase/refinance), and county. Interest rate and loan related closing costs are estimated based on fixed rate mortgages only, whereas market shares include all purchase or refinance mortgages. Its average total loan related closing cost was $2147, which was lower than those of comparable mortgages at $2690, with a difference of -$543. Overall, we estimate that Atlanta Postal Credit Union tends to be an cheap lender, with a cost-adjusted-rate difference of -0.24% compared to comparable mortgages at other lenders.2Cost adjusted rates were computed based on each percent of the loan amount in loan related closing costs being worth 1/6 of a percentage point in interest rate. Nevertheless, we recommend comparing your rate and fees with at least a few other lenders before signing with Atlanta Postal Credit Union.

Atlanta Postal Credit Union originated Conforming mortgages for new home purchases. It also originated Conforming mortgages for refinances. We breakdown its interest rate and total loan related closing cost on by each of the mortgage types it originated below:

Home Purchase Mortgages from Atlanta Postal Credit Union compared to other lenders

Conforming
Interest Rate Difference -0.17%
Loan related Closing Cost Difference -$325
Cost Adjusted Rate Difference -0.20%

Based on the table above, Atlanta Postal Credit Union is cheap for Conforming purchase mortgages.

Mortgage Refinancing from Atlanta Postal Credit Union compared to other lenders

Conforming
Interest Rate Difference -0.14%
Loan Related Closing Cost Difference -$695
Cost Adjusted Rate Difference -0.26%

Based on the table above, Atlanta Postal Credit Union is cheap for Conforming mortgage refinance.

Other information about Atlanta Postal Credit Union:

Regulator: National Credit Union Administration (NCUA) 
Registered city and state: DULUTH, GA, 30096

Footnotes   [ + ]

1. The comparable mortgages control for Atlanta Postal Credit Union’s distribution of loan term (e.g. 30 year vs 15 year), loan-to-value (LTV), debt-to-income (DTI), loan amount, loan program (e.g. Conforming/FHA), loan purpose (e.g. purchase/refinance), and county. Interest rate and loan related closing costs are estimated based on fixed rate mortgages only, whereas market shares include all purchase or refinance mortgages.
2. Cost adjusted rates were computed based on each percent of the loan amount in loan related closing costs being worth 1/6 of a percentage point in interest rate.

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