University First Federal Credit Union Mortgage Rates, Fees & Info

Salt Lake City, UT

LEI: 5493000KQ2PZ8G6VNI80

Tax ID: 87-0234218

5 stars - out of 5 stars, based on 44 reviews

2021 Data | 2020 Data | 2019 Data | 2018 Data


Overview

University First Federal Credit Union is a smaller credit union specializing in Refi and Cash Out Refi loans. University First Federal Credit Union has a high proportion of conventional loans. They have a a low proportion of FHA loans. (This may mean they shy away from first time homebuyers.) Their top markets include Salt Lake City, Ogden, Provo, Heber, and St. George among others. University First Federal Credit Union has an average approval rate for mortages when compared nationally. They have a below average pick rate when compared to the same sample of other lendors. University First Federal Credit Union is typically an average fee lendor.


Originations

1,896

Origination Dollar Volume (All Markets)

$384,490,000

Awards

University First Federal Credit Union 30 Year Conventional Loans bronze University First Federal Credit Union 30 Year Conventional Loans silver University First Federal Credit Union 30 Year Conventional Loans bronze
Show all (3) awards

Relative Rate

University First Federal Credit Union's average 30 year fixed rate mortgage of loans were 3.1%.

The 2021 average 30 year fixed rate mortgage across all markets of loans were 3.15%.

This yields a difference of -0.05%.

Relative Fees

University First Federal Credit Union's average total fees for a 30 year fixed rate mortgage are $3,753.

The average total origination fees for 30 year fixed rate mortgages (for all loan values, including both points & up-front fees in addition to origination fees) are $4,750.

Top Markets

Market Originations Total Value Average Loan Average Fees Average Rate
SALT LAKE CITY, UT (FHA|USDA|VA) 1,473 $292,305,000 $198,442 $3,390 2.42%
OGDEN-CLEARFIELD, UT (FHA|USDA|VA) 220 $44,170,000 $200,773 $3,432 2.46%
PROVO-OREM, UT (FHA|USDA|VA) 98 $18,410,000 $187,857 $3,358 2.49%
Heber, UT (FHA|USDA|VA) 52 $17,640,000 $339,231 $4,491 2.64%
ST. GEORGE, UT (FHA|USDA|VA) 31 $6,625,000 $213,710 $3,569 2.60%
Outside of Metro Areas 13 $3,755,000 $288,846 $6,346 3.01%
Vernal, UT (FHA|USDA|VA) 3 $635,000 $211,667 $2,410 3.00%
LOGAN, UT-ID (FHA|USDA|VA) 2 $470,000 $235,000 $2,957 3.38%
Cedar City, UT (FHA|USDA|VA) 3 $315,000 $105,000 $1,631 2.33%
Price, UT (FHA|USDA|VA) 1 $165,000 $165,000 $3,013 2.63%

University First Federal Credit Union's top markets include Salt Lake City, Ogden, Provo, Heber, and St. George among others.

Product Mix

Loan Type Originations Total Value Average Loan Average Fees Average Rate
Conventional 1,895 $384,185,000 $202,736 $3,455 2.44%
FHA 1 $305,000 $305,000 $0 3.88%

For the 2021 period, University First Federal Credit Union's most frequently originated loan type of loans were Conventional, with 1,895 originations. Their 2nd most popular type is FHA, with 1 originations.

Loan Reason

Loan Reason Originations Total Value Average Loan Average Fees Average Rate
Home Improvement 511 $49,695,000 $97,250 $3,555 1.89%
Refi 420 $101,360,000 $241,333 $2,864 2.71%
Cash Out Refi 413 $125,445,000 $303,741 $3,607 2.97%
Other 350 $45,560,000 $130,171 $2,983 2.09%
Home Purchase 202 $62,430,000 $309,059 $4,763 2.81%

For the 2021, University First Federal Credit Union's most frequently cited loan purpose of loans were Home Improvement, with 511 originations. The 2nd most popular reason of loans were Refi, with 420 originations.

Loan Duration/Length

Loan Length Originations Total Value Average Loan Average Fees Average Rate
20 Year 975 $110,695,000 $113,533 $3,395 1.99%
30 Year 584 $191,350,000 $327,654 $3,753 3.10%
15 Year 279 $68,885,000 $246,900 $2,850 2.49%
10 Year 32 $6,570,000 $205,313 $2,358 2.80%
Other 11 $2,965,000 $269,545 $4,401 4.04%
5 Year 7 $755,000 $107,857 $0 2.66%
3 Year 5 $1,475,000 $295,000 $5,550 5.24%
1 Year 3 $1,795,000 $598,333 $16,631 3.49%

For the 2021, University First Federal Credit Union's most frequently cited loan length of loans were 20 Year, with 975 originations. The 2nd most popular length of loans were 30 Year, with 584 originations.

Origination Fees

Origination Fee Originations Total Value Average Loan
$<1k 544 $140,860,000 $258,934
$1k-2k 201 $51,115,000 $254,303
$2k-3k 123 $40,185,000 $326,707
$3k-4k 74 $34,930,000 $472,027
$5k+ 40 $23,220,000 $580,500

$3,753 of loans were University First Federal Credit Union's average total fees, while their most frequently occuring range of origination fees were in the $<1k bucket, with 544 originations.

Interest Rates

Loan Rate Originations Total Value Average Loan
<2.5% 1,090 $141,050,000 $129,404
2.5-3% 424 $125,250,000 $295,401
3-4% 342 $109,860,000 $321,228
4-5% 22 $5,590,000 $254,091
5-6% 10 $2,060,000 $206,000
6-7% 6 $570,000 $95,000
7-8% 1 $55,000 $55,000
Over 8% 1 $55,000 $55,000

During 2021, University First Federal Credit Union's average interest rate of loans were 3.10%, while their most frequently originated rate bucket of loans were <2.5%, with 1,090 originations.

Loan Sizing

Loan Size Originations Total Value Average Loan Average Fees Average Rate
$200k-400k 641 $179,115,000 $279,431 $3,386 2.79%
$100,000 or less 566 $33,490,000 $59,170 $1,464 2.00%
$100k-200k 500 $70,650,000 $141,300 $2,401 2.26%
$400k-600k 153 $72,985,000 $477,026 $4,848 3.05%
$600k-1MM 32 $22,290,000 $696,563 $8,886 3.21%
$1MM+ 4 $5,960,000 $1,490,000 $9,355 3.12%

2021 saw University First Federal Credit Union place emphasis on $200k-400k loans with 641 originations, totaling $179,115,000 in origination value.

Applicant Income

Applicant Income Originations Total Value Average Loan Average Fees Average Rate
$100k-150k 515 $104,925,000 $203,738 $3,515 2.43%
$75k-100k 377 $67,495,000 $179,032 $3,483 2.40%
$150k-250k 350 $82,890,000 $236,829 $3,808 2.36%
$50k-75k 340 $58,680,000 $172,588 $3,082 2.56%
$50k or less 144 $20,840,000 $144,722 $2,516 2.55%
$250k+ 129 $41,635,000 $322,752 $5,415 2.44%

University First Federal Credit Union lent most frequently to those with incomes in the $100k-150k range, with 515 originations. The second most popular income band? $75k-100k, with 377 originations.

Applicant Debt to Income Ratio

DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
20-30% 510 $108,410,000 $212,569 $3,402 2.43%
30-36% 296 $64,840,000 $219,054 $3,651 2.50%
<20% 277 $55,955,000 $202,004 $3,108 2.34%
43% 93 $12,775,000 $137,366 $3,485 2.34%
44% 80 $11,200,000 $140,000 $3,479 2.14%
39% 79 $15,035,000 $190,316 $3,728 2.45%
45% 78 $10,460,000 $134,103 $3,214 2.23%
37% 73 $16,565,000 $226,918 $3,059 2.54%
38% 72 $17,480,000 $242,778 $4,200 2.69%
41% 72 $14,470,000 $200,972 $4,050 2.39%
36% 70 $14,180,000 $202,571 $3,202 2.54%
42% 67 $12,535,000 $187,090 $3,338 2.62%
40% 65 $12,175,000 $187,308 $3,448 2.41%
49% 17 $4,375,000 $257,353 $3,578 2.82%
48% 16 $5,020,000 $313,750 $2,961 2.95%
47% 16 $4,780,000 $298,750 $3,973 2.84%
46% 10 $2,750,000 $275,000 $3,765 2.95%
50-60% 2 $600,000 $300,000 $2,974 2.94%
>60% 2 $590,000 $295,000 $5,298 2.94%

University First Federal Credit Union lent most frequently to those with DTI ratios of 20-30%, with 510 originations. The next most common DTI ratio? 30-36%, with 296 originations.

Ethnicity Mix

Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
White 1,632 $333,180,000 $204,154 $3,412 2.46%
Not provided 143 $22,225,000 $155,420 $3,871 2.18%
Asian 65 $15,285,000 $235,154 $3,807 2.48%
Black 16 $4,530,000 $283,125 $4,195 2.73%
American Indian 12 $2,290,000 $190,833 $3,954 2.45%
Asian Indian 5 $1,845,000 $369,000 $3,441 2.98%
Other Asian 7 $1,705,000 $243,571 $2,850 2.55%
Chinese 4 $1,080,000 $270,000 $3,818 2.94%
Native Hawaiian 8 $890,000 $111,250 $2,355 1.84%
Vietnamese 1 $575,000 $575,000 $3,676 3.13%
Japanese 1 $455,000 $455,000 $5,073 3.13%
Filipino 1 $235,000 $235,000 $3,091 2.63%
Other Pacific Islander 1 $195,000 $195,000 $3,761 3.75%

Approval Rates

Total approvals of all applications
85.08%

University First Federal Credit Union has an average approval rate.

Pick Rate

Approvals leading to origination
76.73%

University First Federal Credit Union has a below average pick rate.

Points and Fees

Points Originations Total Value Average Loan
NA 1,896 $384,490,000 $202,790

Occupancy Type Mix

Dwelling Type Originations Total Value Average Loan
1,896 $384,490,000 $202,790

LTV Distribution

Loan to Value Originations Total Value Average Loan Average Fees Average Rate
20-40% 392 $65,380,000 $166,786 $2,526 2.26%
40-60% 376 $102,160,000 $271,702 $2,982 2.76%
60-80% 345 $123,595,000 $358,246 $4,117 3.05%
80-100% 110 $41,530,000 $377,545 $4,772 3.23%
Under 20% 673 $51,825,000 $77,006 $1,559 1.94%

Complaints

Bank Name Product Issue 2021 CPFB Complaints % of Total Issues
UNIVERSAL LENDING CORP. Conventional home mortgage Struggling to pay mortgage 1 100.0%