Usalliance Federal Credit Union Mortgage Rates, Fees & Info

Rye, NY

LEI: 254900NZOY3XB2DNSZ34

Tax ID: 13-6256810

1.3 stars - out of 5 stars, based on 33 reviews

2021 Data | 2020 Data | 2019 Data | 2018 Data


Overview

Usalliance Federal Credit Union is a smaller credit union specializing in Home Purchase, Cash Out Refi, and Refi loans. Usalliance Federal Credit Union has a high proportion of conventional loans. Their top markets include New York, Bridgeport, Boston, Phoenix, and Chicago among others. Usalliance Federal Credit Union has an average approval rate for mortages when compared nationally. They have a below average pick rate when compared to the same sample of other lendors. Usalliance Federal Credit Union is typically a high fee lendor.


Originations

1,061

Origination Dollar Volume (All Markets)

$478,695,000

Awards

USAlliance Federal Credit Union 30 Year Conventional Loans silver USAlliance Federal Credit Union 30 Year Conventional Loans gold USAlliance Federal Credit Union 30 Year Conventional Loans gold USAlliance Federal Credit Union 30 Year Conventional Loans gold
Show all (4) awards

Relative Rate

Usalliance Federal Credit Union's average 30 year fixed rate mortgage of loans were 3.9%.

The 2021 average 30 year fixed rate mortgage across all markets of loans were 3.15%.

This yields a difference of 0.75%.

Relative Fees

Usalliance Federal Credit Union's average total fees for a 30 year fixed rate mortgage are $6,148.

The average total origination fees for 30 year fixed rate mortgages (for all loan values, including both points & up-front fees in addition to origination fees) are $4,750.

Top Markets

Market Originations Total Value Average Loan Average Fees Average Rate
New York-Newark-Jersey City, NY-NJ-PA (FHA|USDA|VA) 434 $218,960,000 $504,516 $6,755 3.81%
BRIDGEPORT-STAMFORD-NORWALK, CT (FHA|USDA|VA) 140 $91,180,000 $651,286 $6,171 3.53%
Boston-Cambridge-Newton, MA-NH (FHA|USDA|VA) 171 $71,405,000 $417,573 $4,296 3.89%
PHOENIX-MESA-CHANDLER, AZ (FHA|USDA|VA) 36 $22,340,000 $620,556 $5,446 3.92%
Chicago-Naperville-Elgin, IL-IN-WI (FHA|USDA|VA) 35 $13,065,000 $373,286 $5,061 4.03%
Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) 44 $10,520,000 $239,091 $6,431 4.44%
BARNSTABLE TOWN, MA (FHA|USDA|VA) 8 $4,850,000 $606,250 $5,191 4.09%
NEW HAVEN-MILFORD, CT (FHA|USDA|VA) 16 $4,360,000 $272,500 $4,388 3.98%
Los Angeles-Long Beach-Anaheim, CA (FHA|USDA|VA) 4 $3,580,000 $895,000 $4,725 3.31%
Outside of Metro Areas 9 $3,485,000 $387,222 $4,321 3.10%
Washington-Arlington-Alexandria, DC-VA-MD-WV (FHA|USDA|VA) 6 $2,710,000 $451,667 $6,867 3.79%
CHARLOTTE-CONCORD-GASTONIA, NC-SC (FHA|USDA|VA) 4 $2,570,000 $642,500 $4,130 3.28%
PITTSFIELD, MA (FHA|USDA|VA) 2 $2,330,000 $1,165,000 $6,119 2.88%
POUGHKEEPSIE-NEWBURGH-MIDDLETOWN, NY (FHA|USDA|VA) 9 $2,285,000 $253,889 $4,848 3.86%
PROVIDENCE-WARWICK, RI-MA (FHA|USDA|VA) 21 $2,215,000 $105,476 $3,468 4.51%
TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) 10 $1,690,000 $169,000 $2,312 4.31%
WORCESTER, MA-CT (FHA|USDA|VA) 13 $1,675,000 $128,846 $2,708 4.39%
CHARLESTON-NORTH CHARLESTON, SC (FHA|USDA|VA) 2 $1,500,000 $750,000 $4,541 2.75%
RIVERSIDE-SAN BERNARDINO-ONTARIO, CA (FHA|USDA|VA) 3 $1,185,000 $395,000 $0 4.00%
KINGSTON, NY (FHA|USDA|VA) 8 $1,140,000 $142,500 $4,294 3.75%
MANCHESTER-NASHUA, NH (FHA|USDA|VA) 11 $1,085,000 $98,636 $0 4.17%
TRENTON-PRINCETON, NJ (FHA|USDA|VA) 4 $1,080,000 $270,000 $4,556 3.69%
Gloversville, NY (FHA|USDA|VA) 2 $1,000,000 $500,000 $5,386 4.13%
Philadelphia-Camden-Wilmington, PA-NJ-DE-MD (FHA|USDA|VA) 9 $935,000 $103,889 $4,673 4.42%
Pinehurst-Southern Pines, NC (FHA|USDA|VA) 1 $905,000 $905,000 $5,852 3.13%
ATLANTA-SANDY SPRINGS-ALPHARETTA, GA (FHA|USDA|VA) 4 $820,000 $205,000 $2,782 4.22%
TUCSON, AZ (FHA|USDA|VA) 2 $810,000 $405,000 $6,902 4.19%
OCEAN CITY, NJ (FHA|USDA|VA) 1 $735,000 $735,000 $6,344 3.13%
Torrington, CT (FHA|USDA|VA) 1 $655,000 $655,000 $5,814 3.00%
Bennington, VT (FHA|USDA|VA) 1 $635,000 $635,000 $6,362 2.75%
PORTLAND-SOUTH PORTLAND, ME (FHA|USDA|VA) 5 $515,000 $103,000 $0 4.20%
Easton, MD (FHA|USDA|VA) 1 $505,000 $505,000 $0 6.25%
Laconia, NH (FHA|USDA|VA) 1 $505,000 $505,000 $0 4.00%
SANTA MARIA-SANTA BARBARA, CA (FHA|USDA|VA) 1 $495,000 $495,000 $0 4.00%
CHARLOTTESVILLE, VA (FHA|USDA|VA) 3 $455,000 $151,667 $0 4.42%
BATON ROUGE, LA (FHA|USDA|VA) 1 $455,000 $455,000 $0 5.00%
HARTFORD-EAST HARTFORD-MIDDLETOWN, CT (FHA|USDA|VA) 4 $400,000 $100,000 $0 4.31%
SACRAMENTO-ROSEVILLE-FOLSOM, CA (FHA|USDA|VA) 1 $395,000 $395,000 $0 4.63%
DELTONA-DAYTONA BEACH-ORMOND BEACH, FL (FHA|USDA|VA) 4 $380,000 $95,000 $0 6.25%
SPRINGFIELD, MA (FHA|USDA|VA) 3 $315,000 $105,000 $0 4.75%
LEBANON, PA (FHA|USDA|VA) 1 $265,000 $265,000 $0 4.75%
SAN DIEGO-CHULA VISTA-CARLSBAD, CA (FHA|USDA|VA) 1 $255,000 $255,000 $0 4.63%
RALEIGH-CARY, NC (FHA|USDA|VA) 2 $210,000 $105,000 $0 4.38%
BALTIMORE-COLUMBIA-TOWSON, MD (FHA|USDA|VA) 1 $205,000 $205,000 $0 6.25%
TERRE HAUTE, IN (FHA|USDA|VA) 3 $195,000 $65,000 $0 7.00%
Detroit-Warren-Dearborn, MI (FHA|USDA|VA) 1 $175,000 $175,000 $0 4.00%
KANSAS CITY, MO-KS (FHA|USDA|VA) 1 $175,000 $175,000 $0 4.50%
MYRTLE BEACH-CONWAY-NORTH MYRTLE BEACH, SC-NC (FHA|USDA|VA) 1 $155,000 $155,000 $0 4.00%
Lebanon, NH-VT (FHA|USDA|VA) 1 $125,000 $125,000 $0 4.00%
ROCHESTER, NY (FHA|USDA|VA) 1 $105,000 $105,000 $0 4.50%
NEW ORLEANS-METAIRIE, LA (FHA|USDA|VA) 1 $105,000 $105,000 $0 6.75%
HICKORY-LENOIR-MORGANTON, NC (FHA|USDA|VA) 1 $95,000 $95,000 $537 5.63%
CANTON-MASSILLON, OH (FHA|USDA|VA) 1 $85,000 $85,000 $0 4.00%
ATLANTIC CITY-HAMMONTON, NJ (FHA|USDA|VA) 1 $75,000 $75,000 $0 6.25%
NAPLES-MARCO ISLAND, FL (FHA|USDA|VA) 1 $65,000 $65,000 $0 4.50%
ALLENTOWN-BETHLEHEM-EASTON, PA-NJ (FHA|USDA|VA) 1 $45,000 $45,000 $0 4.00%
SCRANTON--WILKES-BARRE, PA (FHA|USDA|VA) 1 $45,000 $45,000 $0 6.25%
MINNEAPOLIS-ST. PAUL-BLOOMINGTON, MN-WI (FHA|USDA|VA) 1 $45,000 $45,000 $0 4.00%
ATHENS-CLARKE COUNTY, GA (FHA|USDA|VA) 1 $35,000 $35,000 $0 4.00%
ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) 1 $35,000 $35,000 $0 4.75%
LAKELAND-WINTER HAVEN, FL (FHA|USDA|VA) 1 $25,000 $25,000 $300 3.50%
YORK-HANOVER, PA (FHA|USDA|VA) 1 $25,000 $25,000 $0 4.75%
BURLINGTON, NC (FHA|USDA|VA) 1 $25,000 $25,000 $0 4.00%

Usalliance Federal Credit Union's top markets include New York, Bridgeport, Boston, Phoenix, and Chicago among others.

Product Mix

Loan Type Originations Total Value Average Loan Average Fees Average Rate
Conventional 1,061 $478,695,000 $451,173 $5,883 3.90%

For the 2021 period, Usalliance Federal Credit Union's most frequently originated loan type of loans were Conventional, with 1,061 originations.

Loan Reason

Loan Reason Originations Total Value Average Loan Average Fees Average Rate
Home Purchase 396 $210,290,000 $531,035 $6,814 3.91%
Cash Out Refi 329 $109,635,000 $333,237 $5,358 4.05%
Refi 177 $134,445,000 $759,576 $5,202 3.06%
Home Improvement 117 $18,165,000 $155,256 $3,906 4.33%
Other 42 $6,160,000 $146,667 $1,868 4.89%

For the 2021, Usalliance Federal Credit Union's most frequently cited loan purpose of loans were Home Purchase, with 396 originations. The 2nd most popular reason of loans were Cash Out Refi, with 329 originations.

Loan Duration/Length

Loan Length Originations Total Value Average Loan Average Fees Average Rate
30 Year 1,021 $467,835,000 $458,213 $6,148 3.90%
20 Year 18 $3,220,000 $178,889 $2,604 4.39%
15 Year 14 $6,260,000 $447,143 $4,393 2.77%
10 Year 4 $1,170,000 $292,500 $2,784 4.00%
5 Year 4 $210,000 $52,500 $428 3.56%

For the 2021, Usalliance Federal Credit Union's most frequently cited loan length of loans were 30 Year, with 1,021 originations. The 2nd most popular length of loans were 20 Year, with 18 originations.

Origination Fees

Origination Fee Originations Total Value Average Loan
$<1k 290 $252,280,000 $869,931
$1k-2k 72 $50,750,000 $704,861
$2k-3k 50 $52,260,000 $1,045,200
$3k-4k 24 $24,130,000 $1,005,417
$5k+ 3 $1,435,000 $478,333

$6,148 of loans were Usalliance Federal Credit Union's average total fees, while their most frequently occuring range of origination fees were in the $<1k bucket, with 290 originations.

Interest Rates

Loan Rate Originations Total Value Average Loan
3-4% 356 $122,710,000 $344,691
2.5-3% 311 $279,635,000 $899,148
4-5% 277 $41,715,000 $150,596
5-6% 65 $10,595,000 $163,000
6-7% 28 $3,280,000 $117,143
<2.5% 24 $20,760,000 $865,000

During 2021, Usalliance Federal Credit Union's average interest rate of loans were 3.90%, while their most frequently originated rate bucket of loans were 3-4%, with 356 originations.

Loan Sizing

Loan Size Originations Total Value Average Loan Average Fees Average Rate
$100k-200k 273 $38,285,000 $140,238 $2,767 4.53%
$100,000 or less 234 $14,980,000 $64,017 $634 4.53%
$1MM+ 171 $216,825,000 $1,267,982 $7,046 2.90%
$600k-1MM 163 $130,885,000 $802,975 $5,711 2.91%
$200k-400k 142 $39,400,000 $277,465 $4,595 4.08%
$400k-600k 78 $38,320,000 $491,282 $5,609 3.68%

2021 saw Usalliance Federal Credit Union place emphasis on $100k-200k loans with 273 originations, totaling $38,285,000 in origination value.

Applicant Income

Applicant Income Originations Total Value Average Loan Average Fees Average Rate
$250k+ 506 $320,590,000 $633,577 $6,473 3.74%
$150k-250k 337 $123,865,000 $367,552 $5,433 3.95%
$100k-150k 131 $23,755,000 $181,336 $4,709 4.13%
$75k-100k 41 $6,105,000 $148,902 $4,237 4.12%
$50k-75k 36 $3,390,000 $94,167 $2,870 4.41%
$50k or less 9 $735,000 $81,667 $1,773 4.29%

Usalliance Federal Credit Union lent most frequently to those with incomes in the $250k+ range, with 506 originations. The second most popular income band? $150k-250k, with 337 originations.

Applicant Debt to Income Ratio

DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
20-30% 307 $136,665,000 $445,163 $5,907 3.84%
30-36% 190 $91,360,000 $480,842 $5,888 3.84%
<20% 138 $59,020,000 $427,681 $5,745 3.87%
44% 55 $18,585,000 $337,909 $6,309 4.18%
40% 44 $22,180,000 $504,091 $6,112 3.89%
39% 42 $21,570,000 $513,571 $6,062 3.95%
36% 41 $17,625,000 $429,878 $5,090 3.80%
43% 40 $17,720,000 $443,000 $6,929 4.18%
41% 38 $19,170,000 $504,474 $6,568 4.10%
42% 34 $16,060,000 $472,353 $5,050 3.85%
37% 34 $19,590,000 $576,176 $6,557 3.77%
38% 32 $20,290,000 $634,063 $6,016 3.65%
47% 20 $5,240,000 $262,000 $5,528 4.11%
46% 19 $7,725,000 $406,579 $6,270 3.89%
45% 11 $2,265,000 $205,909 $2,047 3.95%
49% 7 $1,155,000 $165,000 $0 4.21%
48% 5 $1,865,000 $373,000 $2,692 4.28%
50-60% 2 $370,000 $185,000 $0 5.50%
>60% 2 $240,000 $120,000 $0 4.38%

Usalliance Federal Credit Union lent most frequently to those with DTI ratios of 20-30%, with 307 originations. The next most common DTI ratio? 30-36%, with 190 originations.

Ethnicity Mix

Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
White 764 $352,250,000 $461,060 $5,832 3.89%
Not provided 182 $77,250,000 $424,451 $6,105 3.95%
Asian 52 $27,610,000 $530,962 $6,355 3.69%
Black 54 $18,590,000 $344,259 $5,449 4.09%
Asian Indian 4 $1,850,000 $462,500 $6,225 3.63%
American Indian 2 $700,000 $350,000 $4,743 3.50%
Other Asian 3 $445,000 $148,333 $4,590 3.75%

Approval Rates

Total approvals of all applications
83.13%

Usalliance Federal Credit Union has a below average approval rate.

Pick Rate

Approvals leading to origination
69.22%

Usalliance Federal Credit Union has a low pick rate. They may have issues with closing loans or may approve everyone, but with onerous loan terms.

Points and Fees

Points Originations Total Value Average Loan
NA 1,061 $478,695,000 $451,173

Occupancy Type Mix

Dwelling Type Originations Total Value Average Loan
1,061 $478,695,000 $451,173

LTV Distribution

Loan to Value Originations Total Value Average Loan Average Fees Average Rate
20-40% 172 $47,250,000 $274,709 $4,022 4.34%
40-60% 65 $41,345,000 $636,077 $4,891 3.13%
60-80% 252 $225,780,000 $895,952 $6,200 3.04%
80-100% 124 $112,820,000 $909,839 $6,572 3.13%
Under 20% 448 $51,500,000 $114,955 $813 4.53%