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 above average approval rate when compared to the average across all lenders. They have an above 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% | 5/5/24 |
| 15 Year Cash-out Refi | 5.85% | 5/5/24 |
| 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
62Origination Dollar Volume (All Markets)
$2,670,000Top 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) | 61 | $2,655,000 | $43,525 | $0 | 3.91% |
| Outside of Metro Areas | 1 | $15,000 | $15,000 | $0 | 3.75% |
Their top states include:
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 62 | $2,670,000 | $43,065 | $0 | 3.90% |
For 2021, United Community Federal Credit Union's most frequently originated type of loan was Conventional, with 62 originations.
Loan Reason
| Loan Reason | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Other | 30 | $1,330,000 | $44,333 | $0 | 3.80% |
| Home Improvement | 29 | $1,185,000 | $40,862 | $0 | 4.03% |
| Refi | 3 | $155,000 | $51,667 | $0 | 3.65% |
For 2021, United Community Federal Credit Union's most frequently cited loan purpose was Other, with 30 originations. The 2nd most popular reason was Home Improvement, with 29 originations.
Loan Duration/Length
For 2021, United Community Federal Credit Union's most frequently cited loan duration was 15 Year, with 16 originations. The 2nd most popular length was 10 Year, with 15 originations.
Origination Fees/Closing Costs
| Origination Fee/Closing Cost | Originations | Total Value | Average Loan |
|---|---|---|---|
| $<1k | 62 | $2,670,000 | $43,065 |
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 62 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 3-4% | 50 | $2,120,000 | $42,400 |
| 4-5% | 10 | $400,000 | $40,000 |
| 5-6% | 1 | $115,000 | $115,000 |
| Over 8% | 1 | $35,000 | $35,000 |
During 2021, United Community Federal Credit Union's average interest rate for loans was 0.00%, while their most frequently originated rate bucket for loans was 3-4%, with 50 originations.
Loan Sizing
2021 saw United Community Federal Credit Union place emphasis on $100,000 or less loans with 58 originations, totaling $2,120,000 in origination value.
Applicant Income
United Community Federal Credit Union lent most frequently to those with incomes in the $75k-100k range, with 19 originations. The second most popular income band? $50k-75k, with 13 originations.
Applicant Debt to Income Ratio
United Community Federal Credit Union lent most frequently to those with DTI ratios of <20%, with 24 originations. The next most common DTI ratio? 20-30%, with 17 originations.
Ethnicity Mix
| Applicant Ethnicity | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| White | 61 | $2,645,000 | $43,361 | $0 | 3.90% |
| Black | 1 | $25,000 | $25,000 | $0 | 4.00% |
Approval Rates
Total approvals of all applications90.67%
United Community Federal Credit Union has an average approval rate.
Pick Rate
Approvals leading to origination90.32%
United Community Federal Credit Union has an average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 62 | $2,670,000 | $43,065 |
LTV Distribution
Complaints
| Bank Name | Product | Issue | 2021 CPFB Complaints | % of Total Issues |
|---|---|---|---|---|
| UNITED COMMUNITY BANK | Other type of mortgage | Trouble during payment process | 1 | 20.0% |
| UNITED COMMUNITY BANK | Conventional home mortgage | Applying for a mortgage or refinancing an existing mortgage | 1 | 20.0% |
| UNITED COMMUNITY BANK | Conventional home mortgage | Trouble during payment process | 1 | 20.0% |
| UNITED COMMUNITY BANK | Home equity loan or line of credit (HELOC) | Trouble during payment process | 1 | 20.0% |
| UNITED COMMUNITY BANK | Other type of mortgage | Applying for a mortgage or refinancing an existing mortgage | 1 | 20.0% |