University Credit Union Mortgage Rates, Fees & Info

Brunswick, ME

LEI: 254900QH6Q6RHDLHEC77

Tax ID: 01-6028792

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
  • 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 and Cash Out Refi 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, Augusta, and Lewiston 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 above 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 an average 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.

    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% 11/21/24
    30 Year Conventional Refi 6.31% 11/21/24
    30 Year Cash-out Refi 6.74% 11/21/24
    30 Year USDA Purchase 5.01% 11/21/24
    30 Year USDA Refi 6.27% 11/21/24
    15 Year Conventional Purchase 6.71% 11/21/24
    15 Year Conventional Refi 5.85% 11/21/24
    15 Year Cash-out Refi 5.85% 11/21/24
    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

    307

    Origination Dollar Volume (All Markets)

    $45,685,000

    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) 100 $16,220,000 $162,200 $2,441 4.37%
    BANGOR, ME (FHA|USDA|VA) 104 $14,430,000 $138,750 $2,467 4.67%
    Outside of Metro Areas 71 $10,755,000 $151,479 $2,906 4.62%
    Augusta-Waterville, ME (FHA|USDA|VA) 16 $2,260,000 $141,250 $1,535 4.68%
    LEWISTON-AUBURN, ME (FHA|USDA|VA) 16 $2,020,000 $126,250 $2,843 5.19%
    University Credit Union's top markets include Portland, Bangor, Augusta, and Lewiston 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: 55
    Maine Savings Federal Credit Union
    Similarity Rank: 60
    First National Bank
    Similarity Rank: 70
    MAINE HIGHLANDS FEDERAL CREDIT UNION
    Similarity Rank: 93
    Piscataqua Savings Bank
    Similarity Rank: 104
    Machias Savings Bank
    Similarity Rank: 144
    Saco Valley Credit Union
    Similarity Rank: 176
    Maine Community Bank
    Similarity Rank: 224
    CUSO MORTGAGE CORPORATION
    Similarity Rank: 255
    TOWN & COUNTRY FEDERAL CREDIT UNION
    Similarity Rank: 335

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 304 $45,140,000 $148,487 $2,507 4.60%
    USDA 3 $545,000 $181,667 $5,276 3.08%

    For 2022, University Credit Union's most frequently originated type of loan was Conventional, with 304 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 102 $22,860,000 $224,118 $4,200 5.00%
    Home Improvement 87 $6,005,000 $69,023 $797 4.73%
    Cash Out Refi 49 $9,715,000 $198,265 $3,976 3.79%
    Other 45 $3,985,000 $88,556 $898 4.81%
    Refi 24 $3,120,000 $130,000 $2,406 3.57%

    For 2022, University Credit Union's most frequently cited loan purpose was Home Purchase, with 102 originations. The 2nd most popular reason was Home Improvement, with 87 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 105 $24,715,000 $235,381 $4,735 4.76%
    15 Year 93 $11,255,000 $121,022 $1,829 4.53%
    10 Year 77 $4,545,000 $59,026 $327 4.43%
    20 Year 15 $2,455,000 $163,667 $4,273 4.26%
    5 Year 9 $375,000 $41,667 $329 4.39%
    Other 8 $2,340,000 $292,500 $0 5.49%

    For 2022, University Credit Union's most frequently cited loan duration was 30 Year, with 105 originations. The 2nd most popular length was 15 Year, with 93 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 169 $15,075,000 $89,201
    $1k-2k 77 $14,125,000 $183,442
    $5k+ 19 $6,275,000 $330,263
    $2k-3k 14 $3,310,000 $236,429
    $4k-5k 10 $2,500,000 $250,000
    $3k-4k 8 $1,690,000 $211,250

    University Credit Union's average total fees were $4,735, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 169 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    3-4% 99 $12,615,000 $127,424
    5-6% 68 $10,560,000 $155,294
    4-5% 54 $8,100,000 $150,000
    6-7% 33 $5,805,000 $175,909
    <2.5% 22 $3,880,000 $176,364
    2.5-3% 20 $3,770,000 $188,500
    7-8% 8 $810,000 $101,250
    Over 8% 3 $145,000 $48,333

    During 2022, University Credit Union's average interest rate for loans was 4.76%, while their most frequently originated rate bucket for loans was 3-4%, with 99 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 133 $7,025,000 $52,820 $716 4.86%
    $100k-200k 95 $14,165,000 $149,105 $2,958 4.19%
    $200k-400k 68 $18,680,000 $274,706 $5,025 4.60%
    $400k-600k 9 $4,165,000 $462,778 $6,490 4.79%
    $600k-1MM 2 $1,650,000 $825,000 $10,410 4.13%

    2022 saw University Credit Union place emphasis on $100,000 or less loans with 133 originations, totaling $7,025,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 92 $15,210,000 $165,326 $2,817 4.66%
    $75k-100k 66 $7,530,000 $114,091 $1,853 4.43%
    $50k-75k 62 $8,010,000 $129,194 $2,782 4.46%
    $150k-250k 42 $7,580,000 $180,476 $2,861 4.83%
    $50k or less 29 $2,945,000 $101,552 $2,016 4.35%
    $250k+ 7 $1,825,000 $260,714 $3,222 4.75%

    University Credit Union lent most frequently to those with incomes in the $100k-150k range, with 92 originations. The second most popular income band? $75k-100k, with 66 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 71 $10,155,000 $143,028 $2,183 4.32%
    30-36% 60 $8,680,000 $144,667 $2,427 4.61%
    <20% 28 $3,830,000 $136,786 $3,429 4.46%
    36% 15 $2,005,000 $133,667 $2,269 4.29%
    44% 14 $3,230,000 $230,714 $4,217 4.89%
    46% 12 $1,790,000 $149,167 $3,017 6.07%
    47% 11 $1,105,000 $100,455 $1,995 5.53%
    41% 11 $1,545,000 $140,455 $3,205 4.39%
    45% 10 $1,370,000 $137,000 $2,827 4.46%
    38% 10 $1,220,000 $122,000 $1,386 4.36%
    37% 9 $1,205,000 $133,889 $1,132 4.83%
    40% 9 $1,915,000 $212,778 $3,886 4.68%
    49% 8 $770,000 $96,250 $945 4.15%
    43% 7 $1,065,000 $152,143 $3,315 4.16%
    39% 7 $695,000 $99,286 $1,982 4.61%
    48% 7 $1,105,000 $157,857 $1,933 4.13%
    42% 6 $1,020,000 $170,000 $2,957 4.42%
    50-60% 3 $395,000 $131,667 $1,963 4.33%

    University Credit Union lent most frequently to those with DTI ratios of 20-30%, with 71 originations. The next most common DTI ratio? 30-36%, with 60 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 254 $35,550,000 $139,961 $2,492 4.56%
    Not provided 41 $7,465,000 $182,073 $2,796 4.59%
    Not applicable 5 $1,715,000 $343,000 $0 5.39%
    Asian 3 $525,000 $175,000 $2,751 4.54%
    Black 3 $375,000 $125,000 $3,458 5.92%
    American Indian 1 $55,000 $55,000 $125 3.99%

    Approval Rates

    Total approvals of all applications
    93.16%

    University Credit Union has an average approval rate.

    Pick Rate

    Approvals leading to origination
    66.45%

    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 307 $45,685,000 $148,811

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    307 $45,685,000 $148,811

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 53 $5,895,000 $111,226 $1,113 4.58%
    40-60% 38 $5,420,000 $142,632 $2,928 3.79%
    60-80% 72 $16,900,000 $234,722 $4,894 4.53%
    80-100% 58 $13,270,000 $228,793 $4,222 4.88%
    Under 20% 85 $3,955,000 $46,529 $253 4.80%