Usc Credit Union Mortgage Rates, Fees & Info

Los Angeles, CA

LEI: 2549001EL4XFDHGNJO24

Tax ID: 95-4110181

5 stars - out of 5 stars, based on 16 reviews

2021 Data | 2020 Data | 2019 Data | 2018 Data


Overview

Usc Credit Union is a smaller credit union specializing in Refi, Cash Out Refi, and Home Purchase loans. Usc Credit Union has a high proportion of conventional loans. Their top markets include Los Angeles, Riverside, Oxnard, San Jose, and San Francisco among others. Usc Credit Union has an average approval rate for mortages when compared nationally. They have a below average pick rate when compared to the same sample of other lendors. Usc Credit Union is typically an average fee lendor.


Originations

245

Origination Dollar Volume (All Markets)

$111,125,000

Awards

USC Credit Union 30 Year Conventional Loans gold USC Credit Union 30 Year Conventional Loans silver USC Credit Union 30 Year Conventional Loans bronze USC Credit Union 30 Year Conventional Loans gold
Show all (4) awards

Relative Rate

Usc Credit Union's average 30 year fixed rate mortgage of loans were 2.89%.

The 2021 average 30 year fixed rate mortgage across all markets of loans were 3.15%.

This yields a difference of -0.26%.

Relative Fees

Usc Credit Union's average total fees for a 30 year fixed rate mortgage are $4,511.

The average total origination fees for 30 year fixed rate mortgages (for all loan values, including both points & up-front fees in addition to origination fees) are $4,750.

Top Markets

Market Originations Total Value Average Loan Average Fees Average Rate
Los Angeles-Long Beach-Anaheim, CA (FHA|USDA|VA) 210 $97,040,000 $462,095 $3,907 2.90%
RIVERSIDE-SAN BERNARDINO-ONTARIO, CA (FHA|USDA|VA) 17 $5,825,000 $342,647 $2,709 3.11%
OXNARD-THOUSAND OAKS-VENTURA, CA (FHA|USDA|VA) 10 $4,890,000 $489,000 $5,199 3.04%
SAN JOSE-SUNNYVALE-SANTA CLARA, CA (FHA|USDA|VA) 3 $1,785,000 $595,000 $3,415 2.54%
San Francisco-Oakland-Berkeley, CA (FHA|USDA|VA) 2 $1,030,000 $515,000 $2,311 3.00%
Ukiah, CA (FHA|USDA|VA) 1 $205,000 $205,000 $4,673 3.00%
SACRAMENTO-ROSEVILLE-FOLSOM, CA (FHA|USDA|VA) 1 $195,000 $195,000 $1,970 2.88%
Outside of Metro Areas 1 $155,000 $155,000 $5,780 2.50%

Usc Credit Union's top markets include Los Angeles, Riverside, Oxnard, San Jose, and San Francisco among others.

Product Mix

Loan Type Originations Total Value Average Loan Average Fees Average Rate
Conventional 245 $111,125,000 $453,571 $3,861 2.91%

For the 2021 period, Usc Credit Union's most frequently originated loan type of loans were Conventional, with 245 originations.

Loan Reason

Loan Reason Originations Total Value Average Loan Average Fees Average Rate
Refi 104 $42,610,000 $409,712 $3,188 2.62%
Cash Out Refi 60 $25,260,000 $421,000 $4,672 2.86%
Home Improvement 43 $11,345,000 $263,837 $2,288 3.67%
Home Purchase 37 $31,755,000 $858,243 $6,361 2.88%
Other 1 $155,000 $155,000 $325 5.00%

For the 2021, Usc Credit Union's most frequently cited loan purpose of loans were Refi, with 104 originations. The 2nd most popular reason of loans were Cash Out Refi, with 60 originations.

Loan Duration/Length

Loan Length Originations Total Value Average Loan Average Fees Average Rate
30 Year 145 $82,635,000 $569,897 $4,511 2.89%
15 Year 74 $22,150,000 $299,324 $3,053 2.81%
20 Year 14 $4,250,000 $303,571 $3,639 2.93%
10 Year 10 $1,130,000 $113,000 $1,120 4.08%
Other 2 $960,000 $480,000 $1,888 2.63%

For the 2021, Usc Credit Union's most frequently cited loan length of loans were 30 Year, with 145 originations. The 2nd most popular length of loans were 15 Year, with 74 originations.

Origination Fees

Origination Fee Originations Total Value Average Loan
$<1k 187 $85,945,000 $459,599
$3k-4k 19 $7,025,000 $369,737
$5k+ 17 $11,285,000 $663,824
$2k-3k 14 $4,110,000 $293,571
$1k-2k 8 $2,760,000 $345,000

$4,511 of loans were Usc Credit Union's average total fees, while their most frequently occuring range of origination fees were in the $<1k bucket, with 187 originations.

Interest Rates

Loan Rate Originations Total Value Average Loan
2.5-3% 133 $73,395,000 $551,842
<2.5% 67 $23,695,000 $353,657
3-4% 24 $12,220,000 $509,167
4-5% 17 $1,585,000 $93,235
5-6% 3 $185,000 $61,667
6-7% 1 $45,000 $45,000

During 2021, Usc Credit Union's average interest rate of loans were 2.89%, while their most frequently originated rate bucket of loans were 2.5-3%, with 133 originations.

Loan Sizing

Loan Size Originations Total Value Average Loan Average Fees Average Rate
$200k-400k 73 $22,265,000 $305,000 $3,378 2.68%
$400k-600k 65 $32,065,000 $493,308 $4,218 2.82%
$600k-1MM 51 $38,375,000 $752,451 $5,314 2.80%
$100k-200k 32 $4,840,000 $151,250 $2,418 3.09%
$100,000 or less 15 $855,000 $57,000 $660 4.61%
$1MM+ 9 $12,725,000 $1,413,889 $7,424 2.69%

2021 saw Usc Credit Union place emphasis on $200k-400k loans with 73 originations, totaling $22,265,000 in origination value.

Applicant Income

Applicant Income Originations Total Value Average Loan Average Fees Average Rate
$150k-250k 67 $33,705,000 $503,060 $4,483 2.93%
$100k-150k 61 $26,035,000 $426,803 $3,471 2.88%
$250k+ 50 $35,310,000 $706,200 $4,646 2.86%
$75k-100k 44 $10,890,000 $247,500 $2,855 2.98%
$50k-75k 15 $3,885,000 $259,000 $3,361 3.00%
$50k or less 8 $1,300,000 $162,500 $3,183 2.78%

Usc Credit Union lent most frequently to those with incomes in the $150k-250k range, with 67 originations. The second most popular income band? $100k-150k, with 61 originations.

Applicant Debt to Income Ratio

DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
20-30% 62 $27,990,000 $451,452 $3,447 2.87%
30-36% 53 $25,425,000 $479,717 $4,495 2.95%
<20% 32 $11,900,000 $371,875 $3,207 2.80%
39% 11 $4,905,000 $445,909 $3,930 3.16%
37% 10 $4,440,000 $444,000 $3,993 2.78%
40% 9 $5,705,000 $633,889 $5,444 2.96%
42% 8 $2,470,000 $308,750 $3,104 3.33%
38% 8 $2,660,000 $332,500 $3,183 3.03%
44% 8 $4,410,000 $551,250 $4,073 2.69%
36% 7 $5,295,000 $756,429 $4,344 2.82%
41% 6 $2,350,000 $391,667 $4,022 3.04%
46% 6 $2,290,000 $381,667 $3,635 2.77%
49% 6 $2,140,000 $356,667 $4,178 2.71%
47% 5 $2,495,000 $499,000 $5,456 3.03%
45% 5 $2,695,000 $539,000 $4,352 3.15%
43% 4 $1,830,000 $457,500 $2,841 2.78%
48% 4 $2,010,000 $502,500 $3,551 2.72%
50-60% 1 $115,000 $115,000 $325 4.50%

Usc Credit Union lent most frequently to those with DTI ratios of 20-30%, with 62 originations. The next most common DTI ratio? 30-36%, with 53 originations.

Ethnicity Mix

Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
White 121 $58,035,000 $479,628 $4,042 2.93%
Not provided 66 $25,780,000 $390,606 $3,272 2.91%
Asian 28 $12,870,000 $459,643 $4,311 2.77%
Black 17 $10,345,000 $608,529 $4,611 2.74%
American Indian 5 $1,435,000 $287,000 $3,467 3.33%
Filipino 2 $1,160,000 $580,000 $5,026 2.50%
Other Asian 1 $665,000 $665,000 $6,925 2.13%
Chinese 3 $475,000 $158,333 $1,135 3.92%
Not applicable 1 $335,000 $335,000 $3,620 2.88%
Japanese 1 $25,000 $25,000 $325 4.25%

Approval Rates

Total approvals of all applications
71.06%

Usc Credit Union has a below average approval rate.

Pick Rate

Approvals leading to origination
40.68%

Usc 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
NA 245 $111,125,000 $453,571

Occupancy Type Mix

Dwelling Type Originations Total Value Average Loan
245 $111,125,000 $453,571

LTV Distribution

Loan to Value Originations Total Value Average Loan Average Fees Average Rate
20-40% 53 $16,955,000 $319,906 $3,642 2.65%
40-60% 61 $27,295,000 $447,459 $3,866 2.77%
60-80% 68 $39,510,000 $581,029 $4,077 2.83%
80-100% 28 $22,130,000 $790,357 $6,089 2.86%
Under 20% 35 $5,235,000 $149,571 $1,981 3.77%