University First Federal Credit Union Mortgage Rates, Fees & Info
Salt Lake City, UTLEI: 5493000KQ2PZ8G6VNI80
Tax ID: 87-0234218
2021 Data | 2020 Data | 2019 Data | 2018 Data
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Mortgage 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
1,896Origination Dollar Volume (All Markets)
$384,490,000Awards
University First Federal Credit Union - 2021
University First Federal Credit Union is a 2021 , due to their low .
For 2021, less than of lenders were eligible for this award.
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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 applications85.08%
University First Federal Credit Union has an average approval rate.
Pick Rate
Approvals leading to origination76.73%
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% |
