University Credit Union Mortgage Rates, Fees & Info

Brunswick, ME

LEI: 254900QH6Q6RHDLHEC77

Tax ID: 01-6028792

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Mortgage Data

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. 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.

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 6.67% 3/28/24
30 Year Conventional Refi 6.31% 3/28/24
30 Year Cash-out Refi 6.74% 3/28/24
30 Year USDA Purchase 5.01% 3/28/24
30 Year USDA Refi 6.27% 3/28/24
15 Year Conventional Purchase 6.71% 3/28/24
15 Year Conventional Refi 5.85% 3/28/24
15 Year Cash-out Refi 5.85% 3/28/24
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.

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

229

Origination Dollar Volume (All Markets)

$28,735,000

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
PORTLAND-SOUTH PORTLAND, ME (FHA|USDA|VA) 87 $12,815,000 $147,299 $0 0.00%
BANGOR, ME (FHA|USDA|VA) 96 $10,560,000 $110,000 $0 0.00%
Outside of Metro Areas 39 $4,715,000 $120,897 $0 0.00%
LEWISTON-AUBURN, ME (FHA|USDA|VA) 4 $400,000 $100,000 $0 0.00%
Augusta-Waterville, ME (FHA|USDA|VA) 3 $245,000 $81,667 $0 0.00%
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.

    First National Bank
    Similarity Rank: 60
    Saco Valley Credit Union
    Similarity Rank: 70
    CASCO
    Similarity Rank: 90
    CUMBERLAND COUNTY
    Similarity Rank: 120
    Maine Savings Federal Credit Union
    Similarity Rank: 190
    York County Federal Credit Union
    Similarity Rank: 190
    FIVE COUNTY
    Similarity Rank: 248
    Bath Savings Institution
    Similarity Rank: 288

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 211 $26,235,000 $124,336 $0 0.00%
    USDA 18 $2,500,000 $138,889 $0 0.00%

    For 2018, University Credit Union's most frequently originated type of loan was Conventional, with 211 originations. Their 2nd most popular type was USDA, with 18 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 119 $18,905,000 $158,866 $0 0.00%
    Home Improvement 37 $1,655,000 $44,730 $0 0.00%
    Other 33 $1,735,000 $52,576 $0 0.00%
    Cash Out Refi 31 $5,185,000 $167,258 $0 0.00%
    Refi 9 $1,255,000 $139,444 $0 0.00%

    For 2018, University Credit Union's most frequently cited loan purpose was Home Purchase, with 119 originations. The 2nd most popular reason was Home Improvement, with 37 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 229 $28,735,000 $125,480 $0 0.00%

    For 2018, University Credit Union's most frequently cited loan duration was Other, with 229 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 97 $4,855,000 $50,052 $0 0.00%
    $100k-200k 88 $12,790,000 $145,341 $0 0.00%
    $200k-400k 42 $10,220,000 $243,333 $0 0.00%
    $400k-600k 2 $870,000 $435,000 $0 0.00%

    2018 saw University Credit Union place emphasis on $100,000 or less loans with 97 originations, totaling $4,855,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 64 $8,080,000 $126,250 $0 0.00%
    $50k or less 48 $4,510,000 $93,958 $0 0.00%
    $75k-100k 46 $5,860,000 $127,391 $0 0.00%
    $100k-150k 45 $6,245,000 $138,778 $0 0.00%
    $150k-250k 16 $2,540,000 $158,750 $0 0.00%
    $250k+ 5 $1,005,000 $201,000 $0 0.00%

    University Credit Union lent most frequently to those with incomes in the $50k-75k range, with 64 originations. The second most popular income band? $50k or less, with 48 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 229 $28,735,000 $125,480 $0 0.00%

    University Credit Union lent most frequently to those with DTI ratios of Exempt%, with 229 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 201 $24,735,000 $123,060 $0 0.00%
    Not provided 22 $3,080,000 $140,000 $0 0.00%
    Asian 4 $580,000 $145,000 $0 0.00%
    Black 1 $225,000 $225,000 $0 0.00%
    American Indian 1 $115,000 $115,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    83.74%

    University Credit Union has a below average approval rate.

    Pick Rate

    Approvals leading to origination
    45.41%

    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
    Exempt 229 $28,735,000 $125,480

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Single Family (1-4 Units):Manufactured 6 $280,000 $46,667
    Single Family (1-4 Units):Site-Built 223 $28,455,000 $127,601

    Complaints

    Bank Name Product Issue 2018 CPFB Complaints % of Total Issues
    University Lending Group, LLC Other type of mortgage Applying for a mortgage or refinancing an existing mortgage 1 100.0%