Superior Credit Union Mortgage Rates, Fees & Info

Collegeville, PA

LEI: 254900Q8CQK28JPFK147

Tax ID: 23-1514461

Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data

Jump to:

  • SimulatedRates™
  • Mortgage Calculator

    • Mortgage Data

  • Originations
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • Complaints
  • Loan Length
  • Loan to Value Info
  • Debt-to-Income
  • Applicant Income
  • Ethnicity Info
  • Approval & Pick Rates
  • Points and Fees
  • Origination Fees (Closing Costs)

    • Review & Overview

    Superior Credit Union is a smaller credit union specializing in Other, Home Improvement, and Refi loans. Superior Credit Union has a high proportion of conventional loans. Their top markets by origination volume include: Philadelphia, Reading, and New York among others. We have data for 4 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Superior 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. Superior 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 relatively high rates.

    We show data for every lender and do not change our ratings-- even if an organization is a paid advertiser. Our consensus data does have lag, but it is highly correlated to a lender's rates & fees relative to their markets. This means that if a bank is a low fee/rate lender the past-- chances are they are still one today. Our SimulatedRates™ use advanced statistical techniques to forecast different rates based on a lender's historical data.

    Mortgage seekers: Choose your metro area here to explore the lowest fee & rate lenders.

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    SimulatedRates™

    Mortgage Type     		Simulated Rate Simulation Date
    15 Year Conventional Refi 5.74% 11/22/24
    15 Year Cash-out Refi 5.74% 11/22/24
    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.

    Superior Credit Union Mortgage Calculator






    Your Estimates

    Estimated Loan Payment: Update the calculator values and click calculate payment!

    This is not an official calculator from Superior Credit Union. It uses our SimulatedRate™ technology, basic math and reasonable assumptions to calculate mortgage payments derived from our simulations and your inputs.

    The default purchase price is the median sales price across the US for 2022Q4, per FRED.


    Originations

    71

    Origination Dollar Volume (All Markets)

    $5,245,000

    Top 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
    Philadelphia-Camden-Wilmington, PA-NJ-DE-MD (FHA|USDA|VA) 58 $4,330,000 $74,655 $292 4.14%
    Outside of Metro Areas 7 $665,000 $95,000 $260 3.50%
    READING, PA (FHA|USDA|VA) 5 $215,000 $43,000 $150 4.54%
    New York-Newark-Jersey City, NY-NJ-PA (FHA|USDA|VA) 1 $35,000 $35,000 $150 2.99%
    Superior Credit Union's top markets include Philadelphia, Reading, and New York among others.

    Their top states include:
  • Pennsylvania (FHA|USDA|VA)
  • New Jersey (FHA|USDA|VA)

    • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 47 $3,835,000 $81,596 $275 4.14%
    HELOC 24 $1,410,000 $58,750 n/a 4.01%

    For 2020, Superior Credit Union's most frequently originated type of loan was Conventional, with 47 originations. Their 2nd most popular type was HELOC, with 24 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Other 33 $2,115,000 $64,091 $203 4.07%
    Home Improvement 24 $1,310,000 $54,583 $171 3.93%
    Refi 10 $1,270,000 $127,000 $383 4.51%
    Home Purchase 3 $515,000 $171,667 $1,140 3.54%
    Cash Out Refi 1 $35,000 $35,000 $275 6.25%

    For 2020, Superior Credit Union's most frequently cited loan purpose was Other, with 33 originations. The 2nd most popular reason was Home Improvement, with 24 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 24 $1,380,000 $57,500 $0 3.94%
    15 Year 18 $1,390,000 $77,222 $244 4.78%
    10 Year 12 $990,000 $82,500 $150 3.46%
    5 Year 8 $330,000 $41,250 $159 3.12%
    20 Year 5 $645,000 $129,000 $483 4.25%
    30 Year 4 $510,000 $127,500 $857 5.63%

    For 2020, Superior Credit Union's most frequently cited loan duration was Other, with 24 originations. The 2nd most popular length was 15 Year, with 18 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 44 $3,600,000 $81,818

    Superior Credit Union's average total fees were $857, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 44 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    3-4% 41 $3,145,000 $76,707
    2.5-3% 10 $520,000 $52,000
    4-5% 9 $505,000 $56,111
    5-6% 5 $345,000 $69,000
    6-7% 4 $280,000 $70,000
    <2.5% 2 $450,000 $225,000

    During 2020, Superior Credit Union's average interest rate for loans was 5.63%, while their most frequently originated rate bucket for loans was 3-4%, with 41 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 59 $2,965,000 $50,254 $170 4.11%
    $100k-200k 7 $995,000 $142,143 $525 4.53%
    $200k-400k 5 $1,285,000 $257,000 $741 3.28%

    2020 saw Superior Credit Union place emphasis on $100,000 or less loans with 59 originations, totaling $2,965,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k or less 19 $975,000 $51,316 $205 4.38%
    $100k-150k 14 $1,000,000 $71,429 $217 4.18%
    $75k-100k 12 $870,000 $72,500 $488 3.85%
    $150k-250k 10 $1,140,000 $114,000 $465 3.96%
    $50k-75k 9 $355,000 $39,444 $164 4.24%
    $250k+ 5 $775,000 $155,000 $125 3.65%

    Superior Credit Union lent most frequently to those with incomes in the $50k or less range, with 19 originations. The second most popular income band? $100k-150k, with 14 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 17 $1,245,000 $73,235 $253 3.90%
    30-36% 9 $885,000 $98,333 $130 3.47%
    37% 8 $570,000 $71,250 $313 4.06%
    <20% 7 $405,000 $57,857 $106 3.23%
    44% 6 $280,000 $46,667 $181 4.91%
    40% 6 $430,000 $71,667 $290 4.35%
    49% 4 $270,000 $67,500 $213 5.06%
    50-60% 3 $355,000 $118,333 $213 4.58%
    45% 3 $295,000 $98,333 $300 4.41%
    41% 2 $120,000 $60,000 $0 4.00%
    39% 2 $260,000 $130,000 $2,280 4.25%
    36% 1 $35,000 $35,000 $0 4.00%
    46% 1 $35,000 $35,000 $150 4.99%
    47% 1 $45,000 $45,000 $0 4.75%
    42% 1 $15,000 $15,000 $275 4.99%

    Superior Credit Union lent most frequently to those with DTI ratios of 20-30%, with 17 originations. The next most common DTI ratio? 30-36%, with 9 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 64 $4,670,000 $72,969 $278 4.06%
    Black 5 $325,000 $65,000 $294 5.19%
    American Indian 2 $250,000 $125,000 $100 2.37%

    Approval Rates

    Total approvals of all applications
    83.65%

    Superior Credit Union has a below average approval rate.

    Pick Rate

    Approvals leading to origination
    80.28%

    Superior Credit Union has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 71 $5,245,000 $73,873

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Single Family (1-4 Units):Site-Built 71 $5,245,000 $73,873

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 24 $1,750,000 $72,917 $175 4.01%
    40-60% 7 $1,035,000 $147,857 $283 3.85%
    60-80% 4 $690,000 $172,500 $481 4.69%
    80-100% 3 $445,000 $148,333 $725 4.38%
    Over 100% 1 $245,000 $245,000 $2,280 3.75%
    Under 20% 32 $1,080,000 $33,750 $168 4.12%

    Complaints

    Bank Name Product Issue 2020 CPFB Complaints % of Total Issues
    Superior Settlement Services LLC Other type of mortgage Trouble during payment process 1 100.0%