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 a high proportion of conventional loans. Their top markets by origination volume include: San Francisco, Santa Rosa, and San Jose among others. We have data for 4 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
25Origination Dollar Volume (All Markets)
$6,535,000Top 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) | 20 | $4,850,000 | $242,500 | $4,475 | 4.48% |
| SANTA ROSA-PETALUMA, CA (FHA|USDA|VA) | 2 | $850,000 | $425,000 | $9,539 | 3.94% |
| SAN JOSE-SUNNYVALE-SANTA CLARA, CA (FHA|USDA|VA) | 1 | $515,000 | $515,000 | $4,647 | 3.13% |
| Outside of Metro Areas | 2 | $320,000 | $160,000 | $0 | 5.00% |
Their top states include:
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| HELOC | 16 | $2,800,000 | $175,000 | n/a | 5.00% |
| Conventional | 9 | $3,735,000 | $415,000 | $5,130 | 3.39% |
For 2020, Upward Credit Union's most frequently originated type of loan was HELOC, with 16 originations. Their 2nd most popular type was Conventional, with 9 originations.
Loan Reason
For 2020, Upward Credit Union's most frequently cited loan purpose was Home Improvement, with 13 originations. The 2nd most popular reason was Cash Out Refi, with 5 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| 20 Year | 16 | $3,330,000 | $208,125 | $9,539 | 4.87% |
| 30 Year | 7 | $3,085,000 | $440,714 | $4,500 | 3.02% |
| 15 Year | 2 | $120,000 | $60,000 | $0 | 5.75% |
For 2020, Upward Credit Union's most frequently cited loan duration was 20 Year, with 16 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 | 2 | $1,270,000 | $635,000 |
| $1k-2k | 2 | $540,000 | $270,000 |
| $5k+ | 2 | $880,000 | $440,000 |
| $2k-3k | 1 | $515,000 | $515,000 |
| $4k-5k | 1 | $485,000 | $485,000 |
Upward Credit Union's average total fees were $4,500, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 2 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 4-5% | 16 | $2,800,000 | $175,000 |
| 2.5-3% | 4 | $1,910,000 | $477,500 |
| 3-4% | 3 | $1,505,000 | $501,667 |
| <2.5% | 1 | $275,000 | $275,000 |
| 6-7% | 1 | $45,000 | $45,000 |
During 2020, Upward Credit Union's average interest rate for loans was 3.02%, while their most frequently originated rate bucket for loans was 4-5%, with 16 originations.
Loan Sizing
2020 saw Upward Credit Union place emphasis on $200k-400k loans with 8 originations, totaling $2,000,000 in origination value.
Applicant Income
Upward Credit Union lent most frequently to those with incomes in the $150k-250k range, with 10 originations. The second most popular income band? $100k-150k, with 5 originations.
Applicant Debt to Income Ratio
Upward Credit Union lent most frequently to those with DTI ratios of 20-30%, with 7 originations. The next most common DTI ratio? 50-60%, with 6 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications84.62%
Upward Credit Union has a below average approval rate.
Pick Rate
Approvals leading to origination76.00%
Upward Credit Union has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 25 | $6,535,000 | $261,400 |