Unity Catholic Fcu Mortgage Rates, Fees & Info
Parma, OHLEI: 254900II3J6G6WWO1O83
Tax ID: 34-0752159
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Mortgage Data
Review & Overview
Unity Catholic Fcu is a smaller credit union specializing in Other and Home Improvement loans. Unity Catholic Fcu has a high proportion of conventional loans. Their top markets by origination volume include: Cleveland, Akron, and Ashland among others. We have data for 3 markets. (Some data included below & more in-depth data is available with an active subscription.)Unity Catholic Fcu has an above average approval rate when compared to the average across all lenders. They have a below average pick rate when compared to similar lenders.
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Originations
60Origination Dollar Volume (All Markets)
$2,780,000Top 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 |
|---|---|---|---|---|---|
| CLEVELAND-ELYRIA, OH (FHA|USDA|VA) | 57 | $2,615,000 | $45,877 | $560 | 6.42% |
| AKRON, OH (FHA|USDA|VA) | 2 | $100,000 | $50,000 | $555 | 7.00% |
| Ashland, OH (FHA|USDA|VA) | 1 | $65,000 | $65,000 | $572 | 8.00% |
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 60 | $2,780,000 | $46,333 | $560 | 6.46% |
For 2023, Unity Catholic Fcu's most frequently originated type of loan was Conventional, with 60 originations.
Loan Reason
| Loan Reason | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Other | 34 | $1,750,000 | $51,471 | $555 | 6.70% |
| Home Improvement | 26 | $1,030,000 | $39,615 | $567 | 6.15% |
For 2023, Unity Catholic Fcu's most frequently cited loan purpose was Other, with 34 originations. The 2nd most popular reason was Home Improvement, with 26 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| 15 Year | 35 | $1,815,000 | $51,857 | $564 | 6.71% |
| 10 Year | 16 | $610,000 | $38,125 | $567 | 6.19% |
| 5 Year | 9 | $355,000 | $39,444 | $534 | 6.00% |
For 2023, Unity Catholic Fcu's most frequently cited loan duration was 15 Year, with 35 originations. The 2nd most popular length was 10 Year, with 16 originations.
Origination Fees/Closing Costs
| Origination Fee/Closing Cost | Originations | Total Value | Average Loan |
|---|---|---|---|
| $<1k | 59 | $2,735,000 | $46,356 |
Unity Catholic Fcu's average total fees were $0, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 59 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 6-7% | 33 | $1,455,000 | $44,091 |
| 5-6% | 14 | $550,000 | $39,286 |
| 7-8% | 10 | $660,000 | $66,000 |
| 4-5% | 2 | $60,000 | $30,000 |
| Over 8% | 1 | $55,000 | $55,000 |
During 2023, Unity Catholic Fcu's average interest rate for loans was 0.00%, while their most frequently originated rate bucket for loans was 6-7%, with 33 originations.
Loan Sizing
| Loan Size | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| $100,000 or less | 57 | $2,435,000 | $42,719 | $560 | 6.41% |
| $100k-200k | 3 | $345,000 | $115,000 | $569 | 7.50% |
2023 saw Unity Catholic Fcu place emphasis on $100,000 or less loans with 57 originations, totaling $2,435,000 in origination value.
Applicant Income
Unity Catholic Fcu lent most frequently to those with incomes in the $50k or less range, with 16 originations. The second most popular income band? $100k-150k, with 15 originations.
Applicant Debt to Income Ratio
Unity Catholic Fcu lent most frequently to those with DTI ratios of 20-30%, with 18 originations. The next most common DTI ratio? 30-36%, with 12 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications97.10%
Unity Catholic Fcu has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.
Pick Rate
Approvals leading to origination88.33%
Unity Catholic Fcu has an average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 60 | $2,780,000 | $46,333 |