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% | 11/17/24 |
| 15 Year Cash-out Refi | 11.59% | 11/17/24 |
| 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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Originations
46Origination Dollar Volume (All Markets)
$4,420,000Top 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) | 45 | $4,325,000 | $96,111 | $1,433 | 5.62% |
| Outside of Metro Areas | 1 | $95,000 | $95,000 | $1,901 | 5.44% |
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 46 | $4,420,000 | $96,087 | $1,443 | 5.62% |
For 2022, United Community Credit Union's most frequently originated type of loan was Conventional, with 46 originations.
Loan Reason
| Loan Reason | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Refi | 45 | $4,315,000 | $95,889 | $1,431 | 5.60% |
| Other | 1 | $105,000 | $105,000 | $1,968 | 6.44% |
For 2022, United Community Credit Union's most frequently cited loan purpose was Refi, with 45 originations. The 2nd most popular reason was Other, with 1 originations.
Loan Duration/Length
For 2022, United Community Credit Union's most frequently cited loan duration was 15 Year, with 18 originations. The 2nd most popular length was 20 Year, with 14 originations.
Origination Fees/Closing Costs
| Origination Fee/Closing Cost | Originations | Total Value | Average Loan |
|---|---|---|---|
| $1k-2k | 26 | $3,130,000 | $120,385 |
| $<1k | 17 | $745,000 | $43,824 |
| $2k-3k | 3 | $545,000 | $181,667 |
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 26 originations.
Interest Rates
During 2022, 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 17 originations.
Loan Sizing
| Loan Size | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| $100,000 or less | 23 | $1,255,000 | $54,565 | $899 | 5.62% |
| $100k-200k | 23 | $3,165,000 | $137,609 | $1,987 | 5.62% |
2022 saw United Community Credit Union place emphasis on $100,000 or less loans with 23 originations, totaling $1,255,000 in origination value.
Applicant Income
United Community Credit Union lent most frequently to those with incomes in the $50k or less range, with 14 originations. The second most popular income band? $50k-75k, with 10 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications92.96%
United Community Credit Union has an average approval rate.
Pick Rate
Approvals leading to origination56.52%
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 | 46 | $4,420,000 | $96,087 |
LTV Distribution
Complaints
| Bank Name | Product | Issue | 2022 CPFB Complaints | % of Total Issues |
|---|---|---|---|---|
| UNITED COMMUNITY BANK | Conventional home mortgage | Closing on a mortgage | 1 | 100.0% |