Superior Credit Union Mortgage Rates, Fees & Info
Collegeville, PALEI: 254900Q8CQK28JPFK147
Tax ID: 23-1514461
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Mortgage Data
Review & Overview
Superior Credit Union is a smaller credit union specializing in Refi and Other loans. Superior Credit Union has a high proportion of conventional loans. Their top markets by origination volume include: Philadelphia, Reading, New York, Allentown, and Altoona among others. We have data for 7 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 an 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 about average 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.
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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
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
123Origination Dollar Volume (All Markets)
$12,265,000Top 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 |
|---|---|---|---|---|---|
| Philadelphia-Camden-Wilmington, PA-NJ-DE-MD (FHA|USDA|VA) | 96 | $9,880,000 | $102,917 | $228 | 3.33% |
| READING, PA (FHA|USDA|VA) | 10 | $800,000 | $80,000 | $179 | 3.27% |
| New York-Newark-Jersey City, NY-NJ-PA (FHA|USDA|VA) | 3 | $695,000 | $231,667 | $367 | 3.12% |
| Outside of Metro Areas | 10 | $590,000 | $59,000 | $192 | 3.97% |
| ALLENTOWN-BETHLEHEM-EASTON, PA-NJ (FHA|USDA|VA) | 2 | $200,000 | $100,000 | $250 | 2.75% |
| ALTOONA, PA (FHA|USDA|VA) | 1 | $65,000 | $65,000 | $0 | 2.75% |
| ATLANTIC CITY-HAMMONTON, NJ (FHA|USDA|VA) | 1 | $35,000 | $35,000 | $0 | 2.50% |
Their top states include:
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 90 | $9,630,000 | $107,000 | $223 | 3.11% |
| HELOC | 33 | $2,635,000 | $79,848 | n/a | 4.00% |
For 2021, Superior Credit Union's most frequently originated type of loan was Conventional, with 90 originations. Their 2nd most popular type was HELOC, with 33 originations.
Loan Reason
| Loan Reason | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Refi | 66 | $8,090,000 | $122,576 | $234 | 2.81% |
| Other | 34 | $2,460,000 | $72,353 | $198 | 4.00% |
| Home Improvement | 23 | $1,715,000 | $74,565 | $182 | 3.96% |
For 2021, Superior Credit Union's most frequently cited loan purpose was Refi, with 66 originations. The 2nd most popular reason was Other, with 34 originations.
Loan Duration/Length
For 2021, Superior Credit Union's most frequently cited loan duration was 15 Year, with 42 originations. The 2nd most popular length was Other, with 28 originations.
Origination Fees/Closing Costs
| Origination Fee/Closing Cost | Originations | Total Value | Average Loan |
|---|---|---|---|
| $<1k | 89 | $9,595,000 | $107,809 |
Superior Credit Union's average total fees were $371, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 89 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 2.5-3% | 56 | $6,870,000 | $122,679 |
| 3-4% | 50 | $4,250,000 | $85,000 |
| <2.5% | 11 | $785,000 | $71,364 |
| 4-5% | 4 | $210,000 | $52,500 |
| 5-6% | 2 | $150,000 | $75,000 |
During 2021, Superior Credit Union's average interest rate for loans was 3.16%, while their most frequently originated rate bucket for loans was 2.5-3%, with 56 originations.
Loan Sizing
2021 saw Superior Credit Union place emphasis on $100,000 or less loans with 74 originations, totaling $3,720,000 in origination value.
Applicant Income
Superior Credit Union lent most frequently to those with incomes in the $50k or less range, with 28 originations. The second most popular income band? $75k-100k, with 25 originations.
Applicant Debt to Income Ratio
Superior Credit Union lent most frequently to those with DTI ratios of 20-30%, with 30 originations. The next most common DTI ratio? 30-36%, with 20 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications89.93%
Superior Credit Union has an average approval rate.
Pick Rate
Approvals leading to origination91.87%
Superior Credit Union has an average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 123 | $12,265,000 | $99,715 |