United Community Federal Credit Union Mortgage Rates, Fees & Info
West Mifflin, PALEI: 254900JSR03JVTTZ6039
Tax ID: 25-1024575
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Mortgage Data
Review & Overview
United Community Federal Credit Union is a smaller credit union specializing in Other and Home Improvement loans. United Community Federal Credit Union has a high proportion of conventional loans. Their top (well, only) market is Pittsburgh.United Community Federal 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.
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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| 15 Year Conventional Refi | 5.85% | 12/17/24 |
| 15 Year Cash-out Refi | 5.85% | 12/17/24 |
| 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. | ||
United Community Federal Credit Union Mortgage Calculator
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
70Origination Dollar Volume (All Markets)
$2,750,000Top 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 |
|---|---|---|---|---|---|
| PITTSBURGH, PA (FHA|USDA|VA) | 70 | $2,750,000 | $39,286 | $0 | 5.90% |
Their top states include:
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 70 | $2,750,000 | $39,286 | $0 | 5.90% |
For 2023, United Community Federal Credit Union's most frequently originated type of loan was Conventional, with 70 originations.
Loan Reason
| Loan Reason | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Other | 38 | $1,470,000 | $38,684 | $0 | 5.85% |
| Home Improvement | 27 | $935,000 | $34,630 | $0 | 5.91% |
| Refi | 5 | $345,000 | $69,000 | $0 | 6.20% |
For 2023, United Community Federal Credit Union's most frequently cited loan purpose was Other, with 38 originations. The 2nd most popular reason was Home Improvement, with 27 originations.
Loan Duration/Length
For 2023, United Community Federal Credit Union's most frequently cited loan duration was 5 Year, with 20 originations. The 2nd most popular length was Other, with 20 originations.
Origination Fees/Closing Costs
| Origination Fee/Closing Cost | Originations | Total Value | Average Loan |
|---|---|---|---|
| $<1k | 69 | $2,715,000 | $39,348 |
United Community Federal Credit Union's average total fees were $0, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 69 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 5-6% | 49 | $1,645,000 | $33,571 |
| 6-7% | 11 | $755,000 | $68,636 |
| 4-5% | 5 | $95,000 | $19,000 |
| Over 8% | 4 | $220,000 | $55,000 |
During 2023, United Community Federal Credit Union's average interest rate for loans was 0.00%, while their most frequently originated rate bucket for loans was 5-6%, with 49 originations.
Loan Sizing
| Loan Size | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| $100,000 or less | 66 | $2,240,000 | $33,939 | $0 | 5.85% |
| $100k-200k | 4 | $510,000 | $127,500 | $0 | 6.69% |
2023 saw United Community Federal Credit Union place emphasis on $100,000 or less loans with 66 originations, totaling $2,240,000 in origination value.
Applicant Income
United Community Federal Credit Union lent most frequently to those with incomes in the $100k-150k range, with 20 originations. The second most popular income band? $50k-75k, with 18 originations.
Applicant Debt to Income Ratio
United Community Federal Credit Union lent most frequently to those with DTI ratios of 20-30%, with 27 originations. The next most common DTI ratio? <20%, with 19 originations.
Ethnicity Mix
| Applicant Ethnicity | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| White | 67 | $2,635,000 | $39,328 | $0 | 5.91% |
| Black | 2 | $80,000 | $40,000 | $0 | 5.75% |
| Not provided | 1 | $35,000 | $35,000 | $0 | 0.00% |
Approval Rates
Total approvals of all applications84.31%
United Community Federal Credit Union has a below average approval rate.
Pick Rate
Approvals leading to origination77.14%
United Community Federal Credit Union has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 70 | $2,750,000 | $39,286 |