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 Home Improvement and 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 above average approval rate when compared to the average across all lenders. They have an above 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% | 4/28/24 |
| 15 Year Cash-out Refi | 11.59% | 4/28/24 |
| 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. | ||
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)
$1,445,000Top 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 | $1,445,000 | $68,810 | $0 | 5.19% |
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 21 | $1,445,000 | $68,810 | $0 | 5.19% |
For 2019, 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 |
|---|---|---|---|---|---|
| Home Improvement | 17 | $1,125,000 | $66,176 | $0 | 5.23% |
| Cash Out Refi | 4 | $320,000 | $80,000 | $0 | 5.02% |
For 2019, United Community Credit Union's most frequently cited loan purpose was Home Improvement, with 17 originations. The 2nd most popular reason was Cash Out Refi, with 4 originations.
Loan Duration/Length
For 2019, United Community Credit Union's most frequently cited loan duration was 15 Year, with 9 originations. The 2nd most popular length was 10 Year, with 4 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 4-5% | 12 | $920,000 | $76,667 |
| 5-6% | 6 | $340,000 | $56,667 |
| 6-7% | 2 | $110,000 | $55,000 |
| 7-8% | 1 | $75,000 | $75,000 |
During 2019, United Community Credit Union's average interest rate for loans was 0.00%, while their most frequently originated rate bucket for loans was 4-5%, with 12 originations.
Loan Sizing
| Loan Size | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| $100,000 or less | 19 | $1,175,000 | $61,842 | $0 | 5.21% |
| $100k-200k | 2 | $270,000 | $135,000 | $0 | 4.94% |
2019 saw United Community Credit Union place emphasis on $100,000 or less loans with 19 originations, totaling $1,175,000 in origination value.
Applicant Income
United Community Credit Union lent most frequently to those with incomes in the $50k or less range, with 7 originations. The second most popular income band? $75k-100k, with 7 originations.
Ethnicity Mix
| Applicant Ethnicity | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| White | 19 | $1,345,000 | $70,789 | $0 | 5.14% |
| Black | 2 | $100,000 | $50,000 | $0 | 5.64% |
Approval Rates
Total approvals of all applications91.67%
United Community Credit Union has an average approval rate.
Pick Rate
Approvals leading to origination95.24%
United Community Credit Union has an exceptionally high pick rate. They most likely have borrower friendly terms or other characteristics like being fast to close or are easy to work with.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 21 | $1,445,000 | $68,810 |
Occupancy Type Mix
| Dwelling Type | Originations | Total Value | Average Loan |
|---|---|---|---|
| Single Family (1-4 Units):Site-Built | 21 | $1,445,000 | $68,810 |
LTV Distribution
Complaints
| Bank Name | Product | Issue | 2019 CPFB Complaints | % of Total Issues |
|---|---|---|---|---|
| UNITED COMMUNITY BANK | Conventional home mortgage | Struggling to pay mortgage | 1 | 100.0% |