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 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 above 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% | 10/31/24 |
15 Year Cash-out Refi | 11.59% | 10/31/24 |
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
48Origination Dollar Volume (All Markets)
$4,070,000Top 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) | 46 | $3,940,000 | $85,652 | $1,182 | 4.60% |
Outside of Metro Areas | 2 | $130,000 | $65,000 | $971 | 4.50% |
Product Mix
Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
---|---|---|---|---|---|
Conventional | 48 | $4,070,000 | $84,792 | $1,173 | 4.60% |
For 2021, United Community Credit Union's most frequently originated type of loan was Conventional, with 48 originations.
Loan Reason
Loan Reason | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
---|---|---|---|---|---|
Refi | 40 | $3,470,000 | $86,750 | $1,199 | 4.67% |
Home Improvement | 4 | $380,000 | $95,000 | $1,283 | 3.88% |
Cash Out Refi | 4 | $220,000 | $55,000 | $799 | 4.63% |
For 2021, United Community Credit Union's most frequently cited loan purpose was Refi, with 40 originations. The 2nd most popular reason was Home Improvement, with 4 originations.
Loan Duration/Length
For 2021, United Community Credit Union's most frequently cited loan duration was 15 Year, with 21 originations. The 2nd most popular length was 10 Year, with 15 originations.
Origination Fees/Closing Costs
Origination Fee/Closing Cost | Originations | Total Value | Average Loan |
---|---|---|---|
$<1k | 29 | $1,635,000 | $56,379 |
$1k-2k | 17 | $2,065,000 | $121,471 |
$2k-3k | 2 | $370,000 | $185,000 |
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 bucket, with 29 originations.
Interest Rates
During 2021, United Community Credit Union's average interest rate for loans was 0.00%, while their most frequently originated rate bucket for loans was 3-4%, with 22 originations.
Loan Sizing
Loan Size | Originations | Total Value | Average Loan | Average Fees | Average Rate |
---|---|---|---|---|---|
$100,000 or less | 34 | $2,100,000 | $61,765 | $882 | 4.64% |
$100k-200k | 14 | $1,970,000 | $140,714 | $1,878 | 4.51% |
2021 saw United Community Credit Union place emphasis on $100,000 or less loans with 34 originations, totaling $2,100,000 in origination value.
Applicant Income
United Community Credit Union lent most frequently to those with incomes in the $50k-75k range, with 15 originations. The second most popular income band? $75k-100k, with 12 originations.
Ethnicity Mix
Applicant Ethnicity | Originations | Total Value | Average Loan | Average Fees | Average Rate |
---|---|---|---|---|---|
White | 45 | $3,845,000 | $85,444 | $1,185 | 4.53% |
Black | 3 | $225,000 | $75,000 | $992 | 5.62% |
Approval Rates
Total approvals of all applications93.65%
United Community Credit Union has an average approval rate.
Pick Rate
Approvals leading to origination77.08%
United Community Credit Union has a below average pick rate.
Points and Fees
Points | Originations | Total Value | Average Loan |
---|---|---|---|
NA | 48 | $4,070,000 | $84,792 |
LTV Distribution
Complaints
Bank Name | Product | Issue | 2021 CPFB Complaints | % of Total Issues |
---|---|---|---|---|
UNITED COMMUNITY BANK | Conventional home mortgage | Applying for a mortgage or refinancing an existing mortgage | 1 | 20.0% |
UNITED COMMUNITY BANK | Home equity loan or line of credit (HELOC) | Trouble during payment process | 1 | 20.0% |
UNITED COMMUNITY BANK | Other type of mortgage | Applying for a mortgage or refinancing an existing mortgage | 1 | 20.0% |
UNITED COMMUNITY BANK | Other type of mortgage | Trouble during payment process | 1 | 20.0% |
UNITED COMMUNITY BANK | Conventional home mortgage | Trouble during payment process | 1 | 20.0% |