Usc Credit Union Mortgage Rates, Fees & InfoLos Angeles, CA
Tax ID: 95-4110181
Latest/2021 | 2020 Data | 2019 Data | 2018 Data
Review & OverviewUsc 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 by origination volume include: Los Angeles, Riverside, Oxnard, San Jose, and San Francisco among others. We have data for 8 markets. (Some data included below & more in-depth data is available with an active subscription.)
Usc 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. Usc 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 about average rates.
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|Simulated Rate||Simulation Date|
|30 Year Conventional Purchase||6.35%||3/19/23|
|30 Year Conventional Refi||6.24%||3/19/23|
|30 Year Cash-out Refi||6.32%||3/19/23|
|15 Year Conventional Purchase||7.99%||3/19/23|
|15 Year Conventional Refi||5.76%||3/19/23|
|15 Year Cash-out Refi||5.76%||3/19/23|
|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.|
Origination Dollar Volume (All Markets)$111,125,000
Usc Credit Union's average 30 year fixed mortgage rate was
The 2021 average 30 year fixed rate mortgage across all markets and lenders was 3.15%.
This yields a difference of -0.26%.
Relative Fees (Closing Costs)
Usc Credit Union's average total fees/closing costs for a 30 year fixed rate
mortgage were $4,511.
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 $4,750.
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|
|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%|
Their top states include:
We use machine learning to identify the top lenders compared against USC 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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|Loan Type||Originations||Total Value||Avg. Loan||Avg. Fees||Avg. Rate|
For 2021, Usc Credit Union's most frequently originated type of loan was Conventional, with 245 originations.
For 2021, Usc Credit Union's most frequently cited loan purpose was Refi, with 104 originations. The 2nd most popular reason was Cash Out Refi, with 60 originations.
For 2021, Usc Credit Union's most frequently cited loan duration was 30 Year, with 145 originations. The 2nd most popular length was 15 Year, with 74 originations.
Origination Fees/Closing Costs
|Origination Fee/Closing Cost||Originations||Total Value||Average Loan|
Usc Credit Union's average total fees were $4,511, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 187 originations.
|Loan Rate||Originations||Total Value||Average Loan|
During 2021, Usc Credit Union's average interest rate for loans was 2.89%, while their most frequently originated rate bucket for loans was 2.5-3%, with 133 originations.
2021 saw Usc Credit Union place emphasis on $200k-400k loans with 73 originations, totaling $22,265,000 in origination value.
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
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.
Approval RatesTotal approvals of all applications
Usc Credit Union has a below average approval rate.
Pick RateApprovals leading to origination
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|