Universal Federal Credit Union Mortgage Rates, Fees & Info

Huntington, WV

LEI: 54930007EJ1IS7U47Q27

Tax ID: 55-0364107

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Mortgage Data

Review & Overview

Universal Federal Credit Union is a smaller credit union specializing in Cash Out Refi loans. Universal Federal Credit Union has a high proportion of conventional loans. Their top two markets are Huntington and Point Pleasant .

Universal Federal Credit Union has an average approval rate when compared to the average across all lenders.

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Originations

23

Origination Dollar Volume (All Markets)

$2,035,000

Top 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) 22 $1,980,000 $90,000 $0 0.00%
Point Pleasant, WV-OH (FHA|USDA|VA) 1 $55,000 $55,000 $0 0.00%
Universal Federal Credit Union's top markets include Huntington and Point Pleasant among others.

Their top states include:
  • West Virginia (FHA|USDA|VA)
  • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 23 $2,035,000 $88,478 $0 0.00%

    For 2020, Universal Federal Credit Union's most frequently originated type of loan was Conventional, with 23 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Cash Out Refi 14 $1,010,000 $72,143 $0 0.00%
    Home Purchase 3 $325,000 $108,333 $0 0.00%
    Home Improvement 3 $335,000 $111,667 $0 0.00%
    Refi 2 $240,000 $120,000 $0 0.00%
    Other 1 $125,000 $125,000 $0 0.00%

    For 2020, Universal Federal Credit Union's most frequently cited loan purpose was Cash Out Refi, with 14 originations. The 2nd most popular reason was Home Purchase, with 3 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 23 $2,035,000 $88,478 $0 0.00%

    For 2020, Universal Federal Credit Union's most frequently cited loan duration was Other, with 23 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 15 $875,000 $58,333 $0 0.00%
    $100k-200k 7 $955,000 $136,429 $0 0.00%
    $200k-400k 1 $205,000 $205,000 $0 0.00%

    2020 saw Universal Federal Credit Union place emphasis on $100,000 or less loans with 15 originations, totaling $875,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k or less 7 $505,000 $72,143 $0 0.00%
    $50k-75k 6 $480,000 $80,000 $0 0.00%
    $100k-150k 4 $470,000 $117,500 $0 0.00%
    $75k-100k 4 $290,000 $72,500 $0 0.00%
    $150k-250k 2 $290,000 $145,000 $0 0.00%

    Universal Federal Credit Union lent most frequently to those with incomes in the $50k or less range, with 7 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% 23 $2,035,000 $88,478 $0 0.00%

    Universal Federal Credit Union lent most frequently to those with DTI ratios of Exempt%, with 23 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 22 $2,000,000 $90,909 $0 0.00%
    Black 1 $35,000 $35,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    79.31%

    Universal Federal Credit Union has a below average approval rate.

    Pick Rate

    Approvals leading to origination

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 23 $2,035,000 $88,478

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Single Family (1-4 Units):Manufactured 1 $45,000 $45,000
    Single Family (1-4 Units):Site-Built 22 $1,990,000 $90,455

    Complaints

    Bank Name Product Issue 2020 CPFB Complaints % of Total Issues
    Universal Capital Services, Inc. Conventional home mortgage Applying for a mortgage or refinancing an existing mortgage 2 66.7%
    Universal Capital Services, Inc. Home equity loan or line of credit (HELOC) Applying for a mortgage or refinancing an existing mortgage 1 33.3%