University First Federal Credit Union Mortgage Rates, Fees & Info

Salt Lake City, UT

LEI: 5493000KQ2PZ8G6VNI80

Tax ID: 87-0234218

5 stars - Updated: 9/18/23 - out of 5 stars, based on 40 reviews

Latest/2022 | 2021 Data | 2020 Data | 2019 Data | 2018 Data

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Mortgage Data

Review & Overview

University First Federal Credit Union is a smaller credit union specializing in Home Improvement, Cash Out Refi, and Home Purchase 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 by origination volume include: Salt Lake City, Ogden, Provo, Heber, and St. George among others. We have data for 10 markets. (Some data included below & more in-depth data is available with an active subscription.)

University First Federal Credit Union has an average approval rate when compared to the average across all lenders. They have a below average pick rate when compared to similar lenders. University First Federal Credit Union is typically an average fee lender. (We use the term "fees" to include things like closing costs and other costs incurred by borrowers-- whether they are paid out of pocket or rolled into the loan.) They typically have about average rates.

We show data for every lender and do not change our ratings-- even if an organization is a paid advertiser. Our consensus data does have lag, but it is highly correlated to a lender's rates & fees relative to their markets. This means that if a bank is a low fee/rate lender the past-- chances are they are still one today. Our SimulatedRates™ use advanced statistical techniques to forecast different rates based on a lender's historical data.

Mortgage seekers: Choose your metro area here to explore the lowest fee & rate lenders.

Mortgage professionals: We have various tools to make your lives easier. Contact us to see how we can help with your market research, analytics or advertising needs.

SimulatedRates™

Mortgage Type
Simulated Rate Simulation Date
Home Equity Line of Credit (HELOC) 3.93% 9/18/23
30 Year Conventional Purchase 6.63% 9/18/23
30 Year Conventional Refi 6.16% 9/18/23
30 Year Cash-out Refi 6.67% 9/18/23
30 Year FHA Purchase 6.27% 9/18/23
30 Year VA Purchase 6.27% 9/18/23
15 Year Conventional Purchase 5.75% 9/18/23
15 Year Conventional Refi 5.99% 9/18/23
15 Year Cash-out Refi 5.99% 9/18/23
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.

University First Federal Credit Union Mortgage Calculator






Your Estimates

Estimated Loan Payment: Update the calculator values and click calculate payment!

This is not an official calculator from University First Federal Credit Union. It uses our SimulatedRate™ technology, basic math and reasonable assumptions to calculate mortgage payments derived from our simulations and your inputs.

The default purchase price is the median sales price across the US for 2022Q4, per FRED.


Originations

1,621

Origination Dollar Volume (All Markets)

$242,955,000

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 mortgage rate was 4.44%.

The 2022 average 30 year fixed rate mortgage across all markets and lenders was 4.76%.

This yields a difference of -0.32%.

Relative Fees (Closing Costs)

University First Federal Credit Union's average total fees/closing costs for a 30 year fixed rate mortgage were $6,132.

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

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
SALT LAKE CITY, UT (FHA|USDA|VA) 1,163 $169,725,000 $145,937 $2,523 2.96%
OGDEN-CLEARFIELD, UT (FHA|USDA|VA) 197 $29,265,000 $148,553 $2,494 3.25%
PROVO-OREM, UT (FHA|USDA|VA) 148 $17,240,000 $116,486 $2,224 2.59%
Heber, UT (FHA|USDA|VA) 40 $15,260,000 $381,500 $14,554 3.04%
ST. GEORGE, UT (FHA|USDA|VA) 52 $8,430,000 $162,115 $1,681 3.60%
Outside of Metro Areas 8 $1,320,000 $165,000 $4,470 3.77%
Cedar City, UT (FHA|USDA|VA) 5 $795,000 $159,000 $2,512 3.12%
LOGAN, UT-ID (FHA|USDA|VA) 4 $610,000 $152,500 $0 2.05%
Price, UT (FHA|USDA|VA) 3 $275,000 $91,667 $2,965 5.33%
Vernal, UT (FHA|USDA|VA) 1 $35,000 $35,000 $0 2.99%
University First Federal Credit Union's top markets include Salt Lake City, Ogden, Provo, Heber, and St. George among others.

Their top states include:
  • Utah (FHA|USDA|VA)
  • Similar Lenders

    We use machine learning to identify the top lenders compared against University First Federal Credit Union based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.

    HORIZON UTAH Federal Credit Union
    Similarity Rank: 350
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    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    HELOC 1,208 $141,270,000 $116,945 n/a 2.45%
    Conventional 412 $101,260,000 $245,777 $2,778 4.56%
    FHA 1 $425,000 $425,000 $0 3.63%

    For 2022, University First Federal Credit Union's most frequently originated type of loan was HELOC, with 1,208 originations. Their 2nd most popular type was Conventional, with 412 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Improvement 635 $71,825,000 $113,110 $0 2.35%
    Other 398 $41,270,000 $103,693 $0 2.37%
    Cash Out Refi 278 $49,040,000 $176,403 $1,527 4.74%
    Home Purchase 160 $53,700,000 $335,625 $7,464 3.62%
    Refi 150 $27,120,000 $180,800 $2,144 3.42%

    For 2022, University First Federal Credit Union's most frequently cited loan purpose was Home Improvement, with 635 originations. The 2nd most popular reason was Other, with 398 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    20 Year 1,213 $142,225,000 $117,251 $3,446 2.46%
    30 Year 168 $73,360,000 $436,667 $6,132 4.44%
    Other 85 $9,345,000 $109,941 $42 5.62%
    10 Year 77 $6,675,000 $86,688 $78 5.32%
    5 Year 54 $5,260,000 $97,407 $0 2.86%
    15 Year 23 $5,835,000 $253,696 $4,006 3.05%
    3 Year 1 $255,000 $255,000 $4,996 4.75%

    For 2022, University First Federal Credit Union's most frequently cited loan duration was 20 Year, with 1,213 originations. The 2nd most popular length was 30 Year, with 168 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 269 $33,825,000 $125,743
    $1k-2k 38 $11,010,000 $289,737
    $5k+ 31 $23,735,000 $765,645
    $3k-4k 29 $13,195,000 $455,000
    $2k-3k 28 $10,300,000 $367,857
    $4k-5k 18 $9,620,000 $534,444

    University First Federal Credit Union's average total fees were $6,132, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 269 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    <2.5% 864 $99,810,000 $115,521
    2.5-3% 281 $33,775,000 $120,196
    3-4% 141 $41,745,000 $296,064
    5-6% 120 $22,800,000 $190,000
    4-5% 107 $30,785,000 $287,710
    6-7% 56 $8,250,000 $147,321
    Over 8% 32 $2,500,000 $78,125
    7-8% 20 $3,290,000 $164,500

    During 2022, University First Federal Credit Union's average interest rate for loans was 4.44%, while their most frequently originated rate bucket for loans was <2.5%, with 864 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 713 $41,915,000 $58,787 $73 2.96%
    $100k-200k 531 $72,755,000 $137,015 $971 2.82%
    $200k-400k 293 $75,125,000 $256,399 $3,874 2.94%
    $400k-600k 54 $24,800,000 $459,259 $6,158 4.57%
    $600k-1MM 22 $15,890,000 $722,273 $9,062 4.08%
    $1MM+ 8 $12,470,000 $1,558,750 $18,945 4.83%

    2022 saw University First Federal Credit Union place emphasis on $100,000 or less loans with 713 originations, totaling $41,915,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 529 $74,035,000 $139,953 $2,521 2.96%
    $150k-250k 352 $63,890,000 $181,506 $2,992 2.93%
    $75k-100k 302 $38,540,000 $127,616 $2,901 3.16%
    $50k-75k 240 $24,900,000 $103,750 $1,676 2.96%
    $250k+ 110 $33,050,000 $300,455 $6,218 3.10%
    $50k or less 67 $6,055,000 $90,373 $1,357 2.92%

    University First Federal Credit Union lent most frequently to those with incomes in the $100k-150k range, with 529 originations. The second most popular income band? $150k-250k, with 352 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 348 $55,960,000 $160,805 $2,353 2.70%
    30-36% 302 $47,240,000 $156,424 $3,216 2.95%
    <20% 152 $22,720,000 $149,474 $1,880 2.63%
    42% 119 $17,165,000 $144,244 $3,637 2.90%
    44% 111 $16,335,000 $147,162 $2,017 3.24%
    43% 109 $16,145,000 $148,119 $3,284 3.02%
    41% 77 $11,595,000 $150,584 $2,474 3.28%
    39% 69 $11,155,000 $161,667 $3,410 3.35%
    38% 66 $9,110,000 $138,030 $2,830 3.34%
    37% 59 $7,955,000 $134,831 $2,552 2.86%
    40% 53 $7,395,000 $139,528 $1,958 3.17%
    45% 53 $5,595,000 $105,566 $2,686 2.37%
    36% 42 $5,010,000 $119,286 $3,029 3.24%
    50-60% 30 $3,420,000 $114,000 $7,750 4.82%
    46% 9 $1,865,000 $207,222 $3,605 3.70%
    47% 7 $1,955,000 $279,286 $5,749 4.44%
    48% 6 $900,000 $150,000 $5,324 4.93%
    >60% 5 $675,000 $135,000 $0 3.96%
    49% 4 $760,000 $190,000 $1,989 4.37%

    University First Federal Credit Union lent most frequently to those with DTI ratios of 20-30%, with 348 originations. The next most common DTI ratio? 30-36%, with 302 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 1,200 $180,050,000 $150,042 $2,840 2.97%
    Not provided 313 $45,375,000 $144,968 $2,313 3.02%
    Asian 66 $11,410,000 $172,879 $3,567 3.18%
    Black 15 $2,615,000 $174,333 $6,744 2.06%
    Native Hawaiian or Islander 13 $1,765,000 $135,769 $3,575 4.08%
    American Indian 10 $1,340,000 $134,000 $712 3.24%
    Asian Indian 3 $365,000 $121,667 $0 1.74%
    Other Pacific Islander 1 $35,000 $35,000 $0 1.74%

    Approval Rates

    Total approvals of all applications
    82.99%

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

    Pick Rate

    Approvals leading to origination
    72.12%

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

    Points and Fees

    Points Originations Total Value Average Loan
    NA 1,621 $242,955,000 $149,880

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    1,621 $242,955,000 $149,880

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 447 $75,105,000 $168,020 $1,211 2.77%
    40-60% 82 $26,910,000 $328,171 $5,513 3.70%
    60-80% 74 $34,760,000 $469,730 $5,936 4.09%
    80-100% 47 $21,735,000 $462,447 $6,692 4.79%
    Under 20% 971 $84,445,000 $86,967 $72 2.86%