University Credit Union Mortgage Rates, Fees & Info

Brunswick, ME

LEI: 254900QH6Q6RHDLHEC77

Tax ID: 01-6028792

5 stars - Updated: 4/5/25 - out of 5 stars, based on 14 reviews

Latest/2024 | 2023 Data | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data

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  • SimulatedRates™
  • Mortgage Calculator

    • Mortgage Data

  • Originations
  • Relative Rates
  • Relative Fees
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • Similar Lenders
  • 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

    University Credit Union is a smaller credit union specializing in Home Purchase loans. University Credit Union has a high proportion of conventional loans. They have a low ratio of USDA loans. Their top markets by origination volume include: Portland, Bangor, Lewiston, and Augusta among others. We have data for 5 markets. (Some data included below & more in-depth data is available with an active subscription.)

    University 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. University 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
    30 Year Conventional Purchase 7.40% 4/5/25
    30 Year Conventional Refi 6.80% 4/5/25
    30 Year Cash-out Refi 8.49% 4/5/25
    30 Year USDA Purchase 6.26% 4/5/25
    15 Year Conventional Purchase 7.62% 4/5/25
    15 Year Conventional Refi 6.99% 4/5/25
    15 Year Cash-out Refi 6.99% 4/5/25
    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.

    University Credit Union Mortgage Calculator






    Your Estimates

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

    This is not an official calculator from University 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

    197

    Origination Dollar Volume (All Markets)

    $31,825,000

    Awards

    University Credit Union 30 Year Conventional Loans bronze
    Show all (1) awards

    Relative Rate

    University Credit Union's average 30 year fixed mortgage rate was 7.21%.

    The 2024 average 30 year fixed rate mortgage across all markets and lenders was 6.55%.

    This yields a difference of 0.66%.

    Relative Fees (Closing Costs)

    University Credit Union's average total fees/closing costs for a 30 year fixed rate mortgage were $4,518.

    The average total origination fees for 30 year fixed rate mortgages across all lenders (for all loan values, including both points & up-front fees in addition to origination fees) were $8,356.

    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
    PORTLAND-SOUTH PORTLAND, ME (FHA|USDA|VA) 60 $10,910,000 $181,833 $1,807 7.36%
    Outside of Metro Areas 52 $8,280,000 $159,231 $2,881 7.51%
    BANGOR, ME (FHA|USDA|VA) 64 $7,240,000 $113,125 $1,915 7.62%
    LEWISTON-AUBURN, ME (FHA|USDA|VA) 11 $3,995,000 $363,182 $2,424 7.95%
    Augusta-Waterville, ME (FHA|USDA|VA) 10 $1,400,000 $140,000 $2,429 7.88%
    University Credit Union's top markets include Portland, Bangor, Lewiston, and Augusta among others.

    Their top states include:
  • Maine (FHA|USDA|VA)

    • Similar Lenders

    We use machine learning to identify the top lenders compared against University Credit Union based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.

    Kennebec Savings Bank
    Similarity Rank: 40
    TOWN & COUNTRY FEDERAL CREDIT UNION
    Similarity Rank: 70
    Maine Savings Federal Credit Union
    Similarity Rank: 114
    Saco Valley Credit Union
    Similarity Rank: 136
    EVERGREEN
    Similarity Rank: 145
    Bath Savings Institution
    Similarity Rank: 210
    Saco & Biddeford Savings Institution
    Similarity Rank: 232
    CUMBERLAND COUNTY
    Similarity Rank: 280
    Androscoggin Savings Bank
    Similarity Rank: 378
    University Credit Union
    Similarity Rank: 625

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 194 $31,190,000 $160,773 $2,132 7.57%
    USDA 3 $635,000 $211,667 $5,859 5.76%

    For 2024, University Credit Union's most frequently originated type of loan was Conventional, with 194 originations. Their 2nd most popular type was USDA, with 3 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 84 $20,280,000 $241,429 $4,191 7.18%
    Home Improvement 48 $2,910,000 $60,625 $365 7.67%
    Other 41 $3,175,000 $77,439 $438 8.18%
    Refi 15 $3,975,000 $265,000 $965 7.19%
    Cash Out Refi 9 $1,485,000 $165,000 $3,451 7.92%

    For 2024, University Credit Union's most frequently cited loan purpose was Home Purchase, with 84 originations. The 2nd most popular reason was Home Improvement, with 48 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 76 $19,210,000 $252,763 $4,518 7.21%
    15 Year 61 $6,015,000 $98,607 $782 8.19%
    10 Year 38 $2,630,000 $69,211 $297 7.66%
    5 Year 13 $425,000 $32,692 $237 6.34%
    20 Year 5 $855,000 $171,000 $3,452 6.70%
    Other 4 $2,690,000 $672,500 $0 7.63%

    For 2024, University Credit Union's most frequently cited loan duration was 30 Year, with 76 originations. The 2nd most popular length was 15 Year, with 61 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 108 $8,520,000 $78,889
    $1k-2k 59 $11,555,000 $195,847
    $2k-3k 16 $5,270,000 $329,375
    $5k+ 5 $2,955,000 $591,000
    $4k-5k 4 $680,000 $170,000
    $3k-4k 1 $155,000 $155,000

    University Credit Union's average total fees were $4,518, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 108 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    7-8% 67 $11,465,000 $171,119
    6-7% 61 $11,835,000 $194,016
    Over 8% 51 $6,045,000 $118,529
    5-6% 17 $2,295,000 $135,000
    4-5% 1 $185,000 $185,000

    During 2024, University Credit Union's average interest rate for loans was 7.21%, while their most frequently originated rate bucket for loans was 7-8%, with 67 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 98 $5,370,000 $54,796 $862 7.82%
    $100k-200k 45 $6,385,000 $141,889 $2,467 7.55%
    $200k-400k 42 $11,170,000 $265,952 $3,981 6.99%
    $400k-600k 6 $2,720,000 $453,333 $5,160 7.13%
    $600k-1MM 4 $2,520,000 $630,000 $6,417 7.09%
    $1MM+ 2 $3,660,000 $1,830,000 $12,189 7.31%

    2024 saw University Credit Union place emphasis on $100,000 or less loans with 98 originations, totaling $5,370,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 45 $5,965,000 $132,556 $1,837 7.73%
    $50k-75k 45 $4,805,000 $106,778 $2,033 7.72%
    $75k-100k 39 $5,815,000 $149,103 $2,818 7.29%
    $150k-250k 33 $6,035,000 $182,879 $2,039 7.34%
    $50k or less 16 $950,000 $59,375 $1,315 7.56%
    $250k+ 15 $5,565,000 $371,000 $3,354 7.47%

    University Credit Union lent most frequently to those with incomes in the $100k-150k range, with 45 originations. The second most popular income band? $50k-75k, with 45 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 47 $7,705,000 $163,936 $2,653 7.25%
    30-36% 45 $5,275,000 $117,222 $1,641 7.63%
    <20% 20 $1,830,000 $91,500 $2,121 7.33%
    41% 8 $840,000 $105,000 $1,814 8.56%
    36% 8 $3,110,000 $388,750 $4,598 7.08%
    39% 8 $1,510,000 $188,750 $2,628 7.45%
    42% 8 $1,290,000 $161,250 $1,813 7.31%
    46% 7 $1,255,000 $179,286 $2,709 7.55%
    45% 6 $490,000 $81,667 $1,324 9.19%
    47% 6 $1,160,000 $193,333 $1,099 7.65%
    37% 6 $560,000 $93,333 $1,817 7.38%
    40% 5 $715,000 $143,000 $3,259 8.08%
    43% 5 $625,000 $125,000 $699 8.50%
    44% 4 $330,000 $82,500 $1,030 7.13%
    49% 4 $720,000 $180,000 $2,685 6.78%
    48% 4 $1,300,000 $325,000 $3,373 7.34%
    38% 2 $190,000 $95,000 $238 7.75%

    University Credit Union lent most frequently to those with DTI ratios of 20-30%, with 47 originations. The next most common DTI ratio? 30-36%, with 45 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 171 $26,465,000 $154,766 $2,233 7.55%
    Not applicable 4 $2,690,000 $672,500 $0 7.63%
    Not provided 18 $2,120,000 $117,778 $1,573 7.62%
    Asian 2 $300,000 $150,000 $1,839 6.75%
    Black 1 $185,000 $185,000 $8,801 6.00%
    American Indian 1 $65,000 $65,000 $160 6.75%

    Approval Rates

    Total approvals of all applications
    88.25%

    University Credit Union has an average approval rate.

    Pick Rate

    Approvals leading to origination
    52.79%

    University 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 197 $31,825,000 $161,548

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    197 $31,825,000 $161,548

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 41 $4,095,000 $99,878 $617 8.24%
    40-60% 12 $2,090,000 $174,167 $2,641 7.66%
    60-80% 24 $7,180,000 $299,167 $4,544 7.16%
    80-100% 51 $14,145,000 $277,353 $4,461 7.33%
    Over 100% 1 $235,000 $235,000 $6,070 5.95%
    Under 20% 67 $3,835,000 $57,239 $404 7.43%