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

Latest/2021 | 2020 Data | 2019 Data | 2018 Data

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Mortgage Data

  • SimulatedRates™
  • Originations
  • Relative Rates
  • Relative Fees
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • Similar Lenders
  • Loan Length
  • Loan to Value Info
  • Debt-to-Income
  • Applicant Income
  • Ethnicity Info
  • Approval & Pick Rates
  • Points and Fees
  • Origination Fees (Closing Costs)

    • Review & 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 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.

    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 6.35% 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.


    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 mortgage rate was 2.89%.

    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.

    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
    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.

    Their top states include:
  • California (FHA|USDA|VA)

    • Similar Lenders

    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.

    Christian Community Credit Union
    Similarity Rank: 354
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    LONG BEACH CITY EMPLOYEES Federal Credit Union
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    Chaffey Federal Credit Union
    Similarity Rank: 966
    LA Financial Federal Credit Union
    Similarity Rank: 1374
    POPA FEDERAL CREDIT UNION
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    Los Angeles Federal Credit Union
    Similarity Rank: 1400
    Water and Power Community Credit Union
    Similarity Rank: 1484
    ARROWHEAD CENTRAL CREDIT UNION
    Similarity Rank: 1488
    FRONTWAVE
    Similarity Rank: 1520

    Product Mix

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

    For 2021, Usc Credit Union's most frequently originated type of loan was Conventional, with 245 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. 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 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.

    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 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
    $<1k 187 $85,945,000 $459,599
    $5k+ 17 $11,285,000 $663,824
    $2k-3k 14 $4,110,000 $293,571
    $4k-5k 10 $4,110,000 $411,000
    $3k-4k 9 $2,915,000 $323,889
    $1k-2k 8 $2,760,000 $345,000

    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.

    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 for loans was 2.89%, while their most frequently originated rate bucket for loans was 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
    81.52%

    Usc Credit Union has a below average approval rate.

    Pick Rate

    Approvals leading to origination
    37.96%

    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%