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 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 Allentown 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 above average approval rate when compared to the average across all lenders. They have an above average pick rate when compared to similar 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
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
95Origination Dollar Volume (All Markets)
$8,805,000Top 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) | 73 | $6,425,000 | $88,014 | $319 | 4.56% |
| Outside of Metro Areas | 11 | $1,585,000 | $144,091 | $496 | 4.32% |
| READING, PA (FHA|USDA|VA) | 10 | $740,000 | $74,000 | $275 | 4.60% |
| ALLENTOWN-BETHLEHEM-EASTON, PA-NJ (FHA|USDA|VA) | 1 | $55,000 | $55,000 | $0 | 5.25% |
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| HELOC | 51 | $5,095,000 | $99,902 | n/a | 4.34% |
| Conventional | 44 | $3,710,000 | $84,318 | $340 | 4.78% |
For 2022, Superior Credit Union's most frequently originated type of loan was HELOC, with 51 originations. Their 2nd most popular type was Conventional, with 44 originations.
Loan Reason
| Loan Reason | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Other | 44 | $4,790,000 | $108,864 | $315 | 4.66% |
| Home Improvement | 36 | $2,240,000 | $62,222 | $305 | 4.53% |
| Refi | 15 | $1,775,000 | $118,333 | $433 | 4.22% |
For 2022, Superior Credit Union's most frequently cited loan purpose was Other, with 44 originations. The 2nd most popular reason was Home Improvement, with 36 originations.
Loan Duration/Length
For 2022, Superior Credit Union's most frequently cited loan duration was 20 Year, with 53 originations. The 2nd most popular length was 15 Year, with 21 originations.
Origination Fees/Closing Costs
| Origination Fee/Closing Cost | Originations | Total Value | Average Loan |
|---|---|---|---|
| $<1k | 43 | $3,695,000 | $85,930 |
Superior Credit Union's average total fees were $0, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 43 originations.
Interest Rates
During 2022, Superior Credit Union's average interest rate for loans was 0.00%, while their most frequently originated rate bucket for loans was 3-4%, with 47 originations.
Loan Sizing
2022 saw Superior Credit Union place emphasis on $100,000 or less loans with 71 originations, totaling $3,455,000 in origination value.
Applicant Income
Superior Credit Union lent most frequently to those with incomes in the $100k-150k range, with 23 originations. The second most popular income band? $50k-75k, with 20 originations.
Applicant Debt to Income Ratio
Superior Credit Union lent most frequently to those with DTI ratios of 50-60%, with 17 originations. The next most common DTI ratio? 20-30%, with 14 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications90.09%
Superior Credit Union has an average approval rate.
Pick Rate
Approvals leading to origination94.74%
Superior Credit Union has an average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 95 | $8,805,000 | $92,684 |