United Community Credit Union Mortgage Rates, Fees & Info
Houston, TXLEI: 254900RW4F62S7FHDV91
Tax ID: 74-1154065
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Mortgage Data
Review & Overview
United Community Credit Union is a smaller credit union specializing in Cash Out Refi loans. United Community Credit Union has a high proportion of conventional loans. Their top (well, only) market is Houston.United Community 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.
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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| 15 Year Conventional Refi | 11.59% | 4/14/24 |
| 15 Year Cash-out Refi | 11.59% | 4/14/24 |
| 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. | ||
United Community 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
21Origination Dollar Volume (All Markets)
$1,895,000Top 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 |
|---|---|---|---|---|---|
| HOUSTON-THE WOODLANDS-SUGAR LAND, TX (FHA|USDA|VA) | 21 | $1,895,000 | $90,238 | $1,327 | 7.38% |
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 21 | $1,895,000 | $90,238 | $1,327 | 7.38% |
For 2023, United Community Credit Union's most frequently originated type of loan was Conventional, with 21 originations.
Loan Reason
| Loan Reason | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Cash Out Refi | 21 | $1,895,000 | $90,238 | $1,327 | 7.38% |
For 2023, United Community Credit Union's most frequently cited loan purpose was Cash Out Refi, with 21 originations.
Loan Duration/Length
For 2023, United Community Credit Union's most frequently cited loan duration was 15 Year, with 8 originations. The 2nd most popular length was 10 Year, with 7 originations.
Origination Fees/Closing Costs
| Origination Fee/Closing Cost | Originations | Total Value | Average Loan |
|---|---|---|---|
| $1k-2k | 13 | $1,405,000 | $108,077 |
| $<1k | 7 | $285,000 | $40,714 |
| $2k-3k | 1 | $205,000 | $205,000 |
United Community Credit Union's average total fees were $0, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 13 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| Over 8% | 7 | $555,000 | $79,286 |
| 7-8% | 6 | $680,000 | $113,333 |
| 5-6% | 4 | $230,000 | $57,500 |
| 6-7% | 4 | $430,000 | $107,500 |
During 2023, United Community Credit Union's average interest rate for loans was 0.00%, while their most frequently originated rate bucket for loans was Over 8%, with 7 originations.
Loan Sizing
2023 saw United Community Credit Union place emphasis on $100,000 or less loans with 11 originations, totaling $625,000 in origination value.
Applicant Income
United Community Credit Union lent most frequently to those with incomes in the $75k-100k range, with 5 originations. The second most popular income band? $100k-150k, with 4 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications82.05%
United Community Credit Union has a below average approval rate.
Pick Rate
Approvals leading to origination47.62%
United Community 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 | 21 | $1,895,000 | $90,238 |