Universal Federal Credit Union Mortgage Rates, Fees & Info
Huntington, WVLEI: 54930007EJ1IS7U47Q27
Tax ID: 55-0364107
Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data
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Mortgage Data
Review & Overview
Universal Federal Credit Union is a smaller credit union specializing in Cash Out Refi and Refi loans. Universal Federal Credit Union has a high proportion of conventional loans. Their top markets by origination volume include: Huntington, Charleston, and Portsmouth among others. We have data for 4 markets. (Some data included below & more in-depth data is available with an active subscription.)Universal Federal 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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Originations
27Origination Dollar Volume (All Markets)
$1,755,000Top 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 |
|---|---|---|---|---|---|
| HUNTINGTON-ASHLAND, WV-KY-OH (FHA|USDA|VA) | 23 | $1,435,000 | $62,391 | $0 | 0.00% |
| Outside of Metro Areas | 1 | $165,000 | $165,000 | $0 | 0.00% |
| CHARLESTON, WV (FHA|USDA|VA) | 2 | $130,000 | $65,000 | $0 | 0.00% |
| Portsmouth, OH (FHA|USDA|VA) | 1 | $25,000 | $25,000 | $0 | 0.00% |
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 27 | $1,755,000 | $65,000 | $0 | 0.00% |
For 2019, Universal Federal Credit Union's most frequently originated type of loan was Conventional, with 27 originations.
Loan Reason
For 2019, Universal Federal Credit Union's most frequently cited loan purpose was Cash Out Refi, with 16 originations. The 2nd most popular reason was Home Improvement, with 5 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Other | 27 | $1,755,000 | $65,000 | $0 | 0.00% |
For 2019, Universal Federal Credit Union's most frequently cited loan duration was Other, with 27 originations.
Loan Sizing
| Loan Size | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| $100,000 or less | 23 | $1,175,000 | $51,087 | $0 | 0.00% |
| $100k-200k | 4 | $580,000 | $145,000 | $0 | 0.00% |
2019 saw Universal Federal Credit Union place emphasis on $100,000 or less loans with 23 originations, totaling $1,175,000 in origination value.
Applicant Income
Universal Federal Credit Union lent most frequently to those with incomes in the $50k or less range, with 12 originations. The second most popular income band? $50k-75k, with 6 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Exempt% | 27 | $1,755,000 | $65,000 | $0 | 0.00% |
Universal Federal Credit Union lent most frequently to those with DTI ratios of Exempt%, with 27 originations.
Ethnicity Mix
| Applicant Ethnicity | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| White | 26 | $1,600,000 | $61,538 | $0 | 0.00% |
| Black | 1 | $155,000 | $155,000 | $0 | 0.00% |
Approval Rates
Total approvals of all applications90.32%
Universal Federal Credit Union has an average approval rate.
Pick Rate
Approvals leading to origination96.30%
Universal Federal 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 |
|---|---|---|---|
| Exempt | 27 | $1,755,000 | $65,000 |
Occupancy Type Mix
| Dwelling Type | Originations | Total Value | Average Loan |
|---|---|---|---|
| Single Family (1-4 Units):Manufactured | 1 | $55,000 | $55,000 |
| Single Family (1-4 Units):Site-Built | 26 | $1,700,000 | $65,385 |
Complaints
| Bank Name | Product | Issue | 2019 CPFB Complaints | % of Total Issues |
|---|---|---|---|---|
| Unifirst Mortgage Corporation | FHA mortgage | Applying for a mortgage or refinancing an existing mortgage | 1 | 100.0% |