Superior Credit Union Mortgage Rates, Fees & Info

Lima, OH

LEI: 254900ARL5FDX2OOH702

Tax ID: 34-4455780

5 stars - out of 5 stars, based on 54 reviews

2021 Data | 2020 Data | 2019 Data | 2018 Data


Overview

Superior Credit Union is a smaller credit union specializing in Home Purchase, Refi, and Cash Out Refi loans. Superior Credit Union has a high proportion of conventional loans. They have a low ratio of USDA loans. Their top markets include Lima, Wapakoneta, Cincinnati, Celina, and Van Wert among others. Superior Credit Union has an above average approval rate for mortages when compared nationally. They have a below average pick rate when compared to the same sample of other lendors. Superior Credit Union is typically a low fee lendor.


Originations

2,970

Origination Dollar Volume (All Markets)

$389,040,000
Show all (17) awards

Relative Rate

Superior Credit Union 's average 30 year fixed rate mortgage of loans were 2.95%.

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

This yields a difference of -0.2%.

Relative Fees

Superior Credit Union 's average total fees for a 30 year fixed rate mortgage are $3,187.

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
LIMA, OH (FHA|USDA|VA) 1,083 $120,925,000 $111,657 $2,530 3.19%
Wapakoneta, OH (FHA|USDA|VA) 459 $60,255,000 $131,275 $2,628 3.00%
CINCINNATI, OH-KY-IN (FHA|USDA|VA) 373 $56,525,000 $151,542 $2,805 2.95%
Outside of Metro Areas 402 $55,190,000 $137,289 $2,432 2.95%
Celina, OH (FHA|USDA|VA) 121 $15,455,000 $127,727 $3,317 3.07%
Van Wert, OH (FHA|USDA|VA) 103 $11,105,000 $107,816 $2,570 2.78%
TOLEDO, OH (FHA|USDA|VA) 78 $10,310,000 $132,179 $3,326 3.33%
COLUMBUS, OH (FHA|USDA|VA) 33 $7,445,000 $225,606 $3,475 3.00%
Findlay, OH (FHA|USDA|VA) 53 $7,445,000 $140,472 $2,942 2.97%
Sidney, OH (FHA|USDA|VA) 40 $6,860,000 $171,500 $2,730 2.90%
Bellefontaine, OH (FHA|USDA|VA) 38 $5,740,000 $151,053 $2,705 2.85%
Tiffin, OH (FHA|USDA|VA) 58 $5,280,000 $91,034 $2,450 3.18%
DAYTON-KETTERING, OH (FHA|USDA|VA) 16 $2,330,000 $145,625 $2,926 2.84%
Washington-Arlington-Alexandria, DC-VA-MD-WV (FHA|USDA|VA) 4 $2,270,000 $567,500 $22,279 3.13%
CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) 5 $1,715,000 $343,000 $4,023 2.80%
NAPLES-MARCO ISLAND, FL (FHA|USDA|VA) 3 $1,695,000 $565,000 $6,362 2.91%
CLEVELAND-ELYRIA, OH (FHA|USDA|VA) 7 $1,045,000 $149,286 $6,346 2.84%
Astoria, OR (FHA|USDA|VA) 1 $1,035,000 $1,035,000 $7,572 3.00%
Coldwater, MI (FHA|USDA|VA) 3 $945,000 $315,000 $2,485 2.92%
Sevierville, TN (FHA|USDA|VA) 3 $745,000 $248,333 $3,852 3.46%
Greenville, OH (FHA|USDA|VA) 4 $720,000 $180,000 $3,145 2.63%
Defiance, OH (FHA|USDA|VA) 4 $660,000 $165,000 $2,318 2.69%
AKRON, OH (FHA|USDA|VA) 5 $645,000 $129,000 $3,702 2.88%
JACKSONVILLE, FL (FHA|USDA|VA) 3 $615,000 $205,000 $4,122 3.21%
Angola, IN (FHA|USDA|VA) 2 $610,000 $305,000 $2,153 2.56%
MONROE, MI (FHA|USDA|VA) 4 $580,000 $145,000 $2,087 2.94%
Chicago-Naperville-Elgin, IL-IN-WI (FHA|USDA|VA) 2 $550,000 $275,000 $8,669 2.81%
INDIANAPOLIS-CARMEL-ANDERSON, IN (FHA|USDA|VA) 3 $535,000 $178,333 $3,463 2.67%
GRAND RAPIDS-KENTWOOD, MI (FHA|USDA|VA) 2 $490,000 $245,000 $2,530 3.88%
FORT WAYNE, IN (FHA|USDA|VA) 4 $480,000 $120,000 $1,945 2.56%
CHARLOTTE-CONCORD-GASTONIA, NC-SC (FHA|USDA|VA) 2 $450,000 $225,000 $3,925 2.63%
North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) 1 $385,000 $385,000 $4,801 2.88%
GREENVILLE-ANDERSON, SC (FHA|USDA|VA) 1 $375,000 $375,000 $5,201 2.88%
New Philadelphia-Dover, OH (FHA|USDA|VA) 1 $365,000 $365,000 $0 3.00%
Detroit-Warren-Dearborn, MI (FHA|USDA|VA) 1 $355,000 $355,000 $2,860 3.25%
KNOXVILLE, TN (FHA|USDA|VA) 1 $345,000 $345,000 $4,048 3.00%
Wilmington, OH (FHA|USDA|VA) 3 $335,000 $111,667 $2,102 3.13%
MANSFIELD, OH (FHA|USDA|VA) 2 $320,000 $160,000 $2,525 3.63%
ANN ARBOR, MI (FHA|USDA|VA) 1 $305,000 $305,000 $4,338 3.25%
ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) 2 $300,000 $150,000 $2,384 2.25%
MOBILE, AL (FHA|USDA|VA) 2 $300,000 $150,000 $2,676 2.31%
Fremont, OH (FHA|USDA|VA) 4 $300,000 $75,000 $3,013 2.63%
PHOENIX-MESA-CHANDLER, AZ (FHA|USDA|VA) 1 $295,000 $295,000 $2,784 2.00%
MORRISTOWN, TN (FHA|USDA|VA) 1 $285,000 $285,000 $2,872 3.00%
Coshocton, OH (FHA|USDA|VA) 1 $285,000 $285,000 $2,977 3.13%
Portsmouth, OH (FHA|USDA|VA) 3 $275,000 $91,667 $4,136 2.88%
Marion, OH (FHA|USDA|VA) 2 $260,000 $130,000 $4,444 3.19%
RALEIGH-CARY, NC (FHA|USDA|VA) 1 $235,000 $235,000 $4,548 2.88%
MILWAUKEE-WAUKESHA, WI (FHA|USDA|VA) 1 $235,000 $235,000 $2,011 2.88%
BATON ROUGE, LA (FHA|USDA|VA) 1 $215,000 $215,000 $6,338 3.00%
Zanesville, OH (FHA|USDA|VA) 1 $215,000 $215,000 $2,571 2.25%
PANAMA CITY, FL (FHA|USDA|VA) 1 $205,000 $205,000 $3,023 3.00%
OCALA, FL (FHA|USDA|VA) 1 $205,000 $205,000 $4,184 3.00%
Sandusky, OH (FHA|USDA|VA) 1 $185,000 $185,000 $2,093 3.00%
Jasper, IN (FHA|USDA|VA) 1 $165,000 $165,000 $7,161 2.75%
Somerset, KY (FHA|USDA|VA) 1 $155,000 $155,000 $3,010 2.38%
Ashland, OH (FHA|USDA|VA) 1 $155,000 $155,000 $2,397 2.63%
TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) 1 $145,000 $145,000 $2,233 2.75%
ATLANTA-SANDY SPRINGS-ALPHARETTA, GA (FHA|USDA|VA) 1 $145,000 $145,000 $3,155 2.50%
SPRINGFIELD, OH (FHA|USDA|VA) 2 $140,000 $70,000 $2,162 3.13%
HUNTSVILLE, AL (FHA|USDA|VA) 1 $135,000 $135,000 $3,316 2.75%
PUNTA GORDA, FL (FHA|USDA|VA) 1 $105,000 $105,000 $2,875 2.25%
THE VILLAGES, FL (FHA|USDA|VA) 1 $105,000 $105,000 $1,834 2.75%
DELTONA-DAYTONA BEACH-ORMOND BEACH, FL (FHA|USDA|VA) 1 $105,000 $105,000 $0 4.00%
CANTON-MASSILLON, OH (FHA|USDA|VA) 1 $95,000 $95,000 $5,944 3.13%
Decatur, IN (FHA|USDA|VA) 1 $95,000 $95,000 $2,505 2.50%
MINNEAPOLIS-ST. PAUL-BLOOMINGTON, MN-WI (FHA|USDA|VA) 1 $75,000 $75,000 $0 3.00%
MYRTLE BEACH-CONWAY-NORTH MYRTLE BEACH, SC-NC (FHA|USDA|VA) 1 $55,000 $55,000 $0 2.38%
DENVER-AURORA-LAKEWOOD, CO (FHA|USDA|VA) 1 $55,000 $55,000 $0 3.25%
NASHVILLE-DAVIDSON--MURFREESBORO--FRANKLIN, TN (FHA|USDA|VA) 1 $55,000 $55,000 $0 4.88%
Norwalk, OH (FHA|USDA|VA) 1 $25,000 $25,000 $0 4.13%

Superior Credit Union 's top markets include Lima, Wapakoneta, Cincinnati, Celina, and Van Wert among others.

Product Mix

Loan Type Originations Total Value Average Loan Average Fees Average Rate
Conventional 2,940 $385,540,000 $131,136 $2,734 3.05%
USDA 30 $3,500,000 $116,667 $3,407 3.19%

For the 2021 period, Superior Credit Union 's most frequently originated loan type of loans were Conventional, with 2,940 originations. Their 2nd most popular type is USDA, with 30 originations.

Loan Reason

Loan Reason Originations Total Value Average Loan Average Fees Average Rate
Home Purchase 814 $134,480,000 $165,209 $3,097 2.99%
Refi 766 $111,920,000 $146,110 $2,133 2.75%
Cash Out Refi 636 $96,010,000 $150,959 $2,948 2.72%
Other 418 $31,380,000 $75,072 $1,332 3.64%
Home Improvement 336 $15,250,000 $45,387 $0 3.84%

For the 2021, Superior Credit Union 's most frequently cited loan purpose of loans were Home Purchase, with 814 originations. The 2nd most popular reason of loans were Refi, with 766 originations.

Loan Duration/Length

Loan Length Originations Total Value Average Loan Average Fees Average Rate
30 Year 1,070 $192,150,000 $179,579 $3,187 2.95%
Other 741 $58,125,000 $78,441 $2,296 3.53%
15 Year 584 $79,970,000 $136,935 $2,094 2.61%
20 Year 469 $48,105,000 $102,569 $2,426 3.14%
10 Year 92 $9,650,000 $104,891 $1,906 2.69%
5 Year 10 $430,000 $43,000 $1,135 3.76%
1 Year 4 $610,000 $152,500 $2,399 4.50%

For the 2021, Superior Credit Union 's most frequently cited loan length of loans were 30 Year, with 1,070 originations. The 2nd most popular length of loans were Other, with 741 originations.

Origination Fees

Origination Fee Originations Total Value Average Loan
$<1k 1,069 $162,245,000 $151,773
$1k-2k 455 $80,715,000 $177,396
$2k-3k 165 $25,715,000 $155,848
$3k-4k 122 $22,390,000 $183,525
$5k+ 57 $13,975,000 $245,175

$3,187 of loans were Superior Credit Union 's average total fees, while their most frequently occuring range of origination fees were in the $<1k bucket, with 1,069 originations.

Interest Rates

Loan Rate Originations Total Value Average Loan
2.5-3% 1,070 $160,170,000 $149,692
<2.5% 915 $135,555,000 $148,148
3-4% 637 $73,985,000 $116,146
4-5% 263 $15,025,000 $57,129
5-6% 53 $2,775,000 $52,358
Over 8% 14 $600,000 $42,857
7-8% 11 $565,000 $51,364
6-7% 7 $365,000 $52,143

During 2021, Superior Credit Union 's average interest rate of loans were 2.95%, while their most frequently originated rate bucket of loans were 2.5-3%, with 1,070 originations.

Loan Sizing

Loan Size Originations Total Value Average Loan Average Fees Average Rate
$100,000 or less 1,308 $70,290,000 $53,739 $2,098 3.40%
$100k-200k 1,109 $157,325,000 $141,862 $2,759 2.80%
$200k-400k 501 $131,925,000 $263,323 $3,177 2.74%
$400k-600k 40 $19,190,000 $479,750 $4,817 2.68%
$600k-1MM 9 $6,485,000 $720,556 $6,286 2.97%
$1MM+ 3 $3,825,000 $1,275,000 $6,576 2.83%

2021 saw Superior Credit Union place emphasis on $100,000 or less loans with 1,308 originations, totaling $70,290,000 in origination value.

Applicant Income

Applicant Income Originations Total Value Average Loan Average Fees Average Rate
$50k or less 827 $74,125,000 $89,631 $2,483 3.17%
$50k-75k 727 $84,365,000 $116,045 $2,729 2.98%
$100k-150k 572 $89,620,000 $156,678 $2,813 2.98%
$75k-100k 519 $70,615,000 $136,060 $2,845 3.06%
$150k-250k 247 $48,605,000 $196,781 $3,088 2.96%
$250k+ 55 $19,595,000 $356,273 $3,416 2.87%

Superior Credit Union lent most frequently to those with incomes in the $50k or less range, with 827 originations. The second most popular income band? $50k-75k, with 727 originations.

Applicant Debt to Income Ratio

DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
20-30% 842 $113,490,000 $134,786 $2,574 3.05%
<20% 805 $90,665,000 $112,627 $2,109 2.92%
30-36% 434 $56,840,000 $130,968 $2,813 3.06%
36% 79 $11,165,000 $141,329 $3,174 3.13%
41% 77 $10,115,000 $131,364 $2,991 2.97%
38% 76 $10,580,000 $139,211 $2,914 2.99%
37% 72 $11,000,000 $152,778 $4,082 3.04%
44% 70 $10,020,000 $143,143 $2,985 2.95%
40% 68 $9,860,000 $145,000 $3,139 3.16%
42% 59 $8,635,000 $146,356 $3,397 3.21%
43% 54 $8,490,000 $157,222 $3,251 3.09%
39% 52 $8,940,000 $171,923 $2,876 2.87%
45% 51 $7,305,000 $143,235 $3,225 3.02%
46% 45 $6,445,000 $143,222 $2,863 3.26%
48% 41 $6,295,000 $153,537 $2,766 3.05%
47% 40 $5,550,000 $138,750 $3,358 3.25%
50-60% 32 $1,940,000 $60,625 $2,412 4.31%
49% 26 $4,490,000 $172,692 $3,901 3.48%
>60% 18 $3,100,000 $172,222 $3,590 3.81%

Superior Credit Union lent most frequently to those with DTI ratios of 20-30%, with 842 originations. The next most common DTI ratio? <20%, with 805 originations.

Ethnicity Mix

Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
White 2,601 $337,335,000 $129,694 $2,744 3.05%
Not provided 237 $36,885,000 $155,633 $2,671 2.87%
Black 89 $9,645,000 $108,371 $3,023 3.31%
Asian 18 $2,920,000 $162,222 $2,960 3.18%
Not applicable 23 $2,115,000 $91,957 $0 4.50%
American Indian 2 $140,000 $70,000 $1,403 2.75%

Approval Rates

Total approvals of all applications
93.08%

Superior Credit Union has an average approval rate.

Pick Rate

Approvals leading to origination
72.65%

Superior Credit Union has a below average pick rate.

Points and Fees

Points Originations Total Value Average Loan
NA 2,970 $389,040,000 $130,990

Occupancy Type Mix

Dwelling Type Originations Total Value Average Loan
2,970 $389,040,000 $130,990

LTV Distribution

Loan to Value Originations Total Value Average Loan Average Fees Average Rate
20-40% 345 $23,455,000 $67,986 $1,996 3.51%
40-60% 527 $64,045,000 $121,528 $2,105 2.77%
60-80% 1,018 $171,600,000 $168,566 $2,758 2.81%
80-100% 715 $118,015,000 $165,056 $3,167 2.95%
Under 20% 365 $11,925,000 $32,671 $3,565 3.91%