Upward Credit Union Mortgage Rates, Fees & Info
Burlingame, CALEI: 254900KLIC284KZ5U646
Tax ID: 94-6093763
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Mortgage Data
Review & Overview
Upward Credit Union is a smaller credit union specializing in Home Improvement and Cash Out Refi loans. Upward Credit Union has an average proportion of conventional loans. Upward Credit Union has a high proportion of conventional loans. Their top markets by origination volume include: San Francisco, San Luis Obispo, Los Angeles, Chico, and Stockton among others. We have data for 7 markets. (Some data included below & more in-depth data is available with an active subscription.)Upward 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. Upward Credit Union is typically a low 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.
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Originations
35Origination Dollar Volume (All Markets)
$7,175,000Top 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 |
|---|---|---|---|---|---|
| San Francisco-Oakland-Berkeley, CA (FHA|USDA|VA) | 28 | $6,060,000 | $216,429 | $4,610 | 5.07% |
| SAN LUIS OBISPO-PASO ROBLES, CA (FHA|USDA|VA) | 1 | $455,000 | $455,000 | $4,675 | 4.13% |
| Los Angeles-Long Beach-Anaheim, CA (FHA|USDA|VA) | 2 | $320,000 | $160,000 | $0 | 7.00% |
| CHICO, CA (FHA|USDA|VA) | 1 | $235,000 | $235,000 | $3,303 | 4.88% |
| STOCKTON, CA (FHA|USDA|VA) | 1 | $45,000 | $45,000 | $0 | 0.00% |
| SACRAMENTO-ROSEVILLE-FOLSOM, CA (FHA|USDA|VA) | 1 | $35,000 | $35,000 | $0 | 0.00% |
| RIVERSIDE-SAN BERNARDINO-ONTARIO, CA (FHA|USDA|VA) | 1 | $25,000 | $25,000 | $0 | 0.00% |
Their top states include:
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 17 | $2,005,000 | $117,941 | $0 | 0.00% |
| Conventional | 10 | $3,760,000 | $376,000 | $4,454 | 5.05% |
| HELOC | 8 | $1,410,000 | $176,250 | n/a | 5.19% |
For 2018, Upward Credit Union's most frequently originated type of loan was Conventional, with 17 originations. Their 2nd most popular type was Conventional, with 10 originations.
Loan Reason
For 2018, Upward Credit Union's most frequently cited loan purpose was Home Improvement, with 22 originations. The 2nd most popular reason was Cash Out Refi, with 5 originations.
Loan Duration/Length
For 2018, Upward Credit Union's most frequently cited loan duration was Other, with 17 originations. The 2nd most popular length was 15 Year, with 6 originations.
Origination Fees/Closing Costs
| Origination Fee/Closing Cost | Originations | Total Value | Average Loan |
|---|---|---|---|
| $<1k | 6 | $3,060,000 | $510,000 |
| $1k-2k | 1 | $85,000 | $85,000 |
| $5k+ | 1 | $455,000 | $455,000 |
Upward Credit Union's average total fees were $4,643, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 6 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 4-5% | 13 | $4,065,000 | $312,692 |
| 6-7% | 3 | $565,000 | $188,333 |
| 3-4% | 1 | $85,000 | $85,000 |
| 5-6% | 1 | $455,000 | $455,000 |
During 2018, Upward Credit Union's average interest rate for loans was 4.81%, while their most frequently originated rate bucket for loans was 4-5%, with 13 originations.
Loan Sizing
2018 saw Upward Credit Union place emphasis on $100,000 or less loans with 13 originations, totaling $715,000 in origination value.
Applicant Income
Upward Credit Union lent most frequently to those with incomes in the $100k-150k range, with 11 originations. The second most popular income band? $150k-250k, with 11 originations.
Applicant Debt to Income Ratio
Upward Credit Union lent most frequently to those with DTI ratios of Exempt%, with 17 originations. The next most common DTI ratio? 50-60%, with 4 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications73.68%
Upward Credit Union has a below average approval rate.
Pick Rate
Approvals leading to origination80.00%
Upward Credit Union has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| Exempt | 17 | $2,005,000 | $117,941 |
| NA | 18 | $5,170,000 | $287,222 |
Occupancy Type Mix
| Dwelling Type | Originations | Total Value | Average Loan |
|---|---|---|---|
| Single Family (1-4 Units):Site-Built | 35 | $7,175,000 | $205,000 |