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, Other, and Refi loans. Upward Credit Union has a high proportion of conventional loans. Upward Credit Union has a high proportion of conventional loans. Their top two markets are San Francisco and Sacramento .Upward Credit Union has an average approval rate when compared to the average across all lenders. They have an 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
39Origination Dollar Volume (All Markets)
$7,665,000Top 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 |
|---|---|---|---|---|---|
| Outside of Metro Areas | 31 | $4,615,000 | $148,871 | $0 | 0.00% |
| San Francisco-Oakland-Berkeley, CA (FHA|USDA|VA) | 6 | $2,550,000 | $425,000 | $3,831 | 3.96% |
| SACRAMENTO-ROSEVILLE-FOLSOM, CA (FHA|USDA|VA) | 2 | $500,000 | $250,000 | $4,467 | 4.06% |
Their top states include:
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 31 | $4,615,000 | $148,871 | $0 | 0.00% |
| Conventional | 8 | $3,050,000 | $381,250 | $3,990 | 3.98% |
For 2019, Upward Credit Union's most frequently originated type of loan was Conventional, with 31 originations. Their 2nd most popular type was Conventional, with 8 originations.
Loan Reason
For 2019, Upward Credit Union's most frequently cited loan purpose was Home Improvement, with 20 originations. The 2nd most popular reason was Other, with 9 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Other | 31 | $4,615,000 | $148,871 | $0 | 0.00% |
| 30 Year | 7 | $2,845,000 | $406,429 | $4,146 | 3.89% |
| 15 Year | 1 | $205,000 | $205,000 | $2,901 | 4.63% |
For 2019, Upward Credit Union's most frequently cited loan duration was Other, with 31 originations. The 2nd most popular length was 30 Year, with 7 originations.
Origination Fees/Closing Costs
| Origination Fee/Closing Cost | Originations | Total Value | Average Loan |
|---|---|---|---|
| $<1k | 5 | $1,755,000 | $351,000 |
| $1k-2k | 1 | $615,000 | $615,000 |
| $2k-3k | 1 | $305,000 | $305,000 |
| $5k+ | 1 | $375,000 | $375,000 |
Upward Credit Union's average total fees were $4,146, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 5 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 3-4% | 6 | $2,540,000 | $423,333 |
| 4-5% | 2 | $510,000 | $255,000 |
During 2019, Upward Credit Union's average interest rate for loans was 3.89%, while their most frequently originated rate bucket for loans was 3-4%, with 6 originations.
Loan Sizing
2019 saw Upward Credit Union place emphasis on $200k-400k loans with 16 originations, totaling $3,900,000 in origination value.
Applicant Income
Upward Credit Union lent most frequently to those with incomes in the $100k-150k range, with 13 originations. The second most popular income band? $150k-250k, with 12 originations.
Applicant Debt to Income Ratio
Upward Credit Union lent most frequently to those with DTI ratios of Exempt%, with 31 originations. The next most common DTI ratio? 20-30%, with 3 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications82.69%
Upward Credit Union has a below average approval rate.
Pick Rate
Approvals leading to origination92.31%
Upward Credit Union has an average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| Exempt | 31 | $4,615,000 | $148,871 |
| NA | 8 | $3,050,000 | $381,250 |