University First Federal Credit Union Mortgage Rates, Fees & Info

Salt Lake City, UT

LEI: 5493000KQ2PZ8G6VNI80

Tax ID: 87-0234218

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Mortgage Data

Review & Overview

University First Federal Credit Union is a smaller credit union specializing in Cash Out Refi, Home Purchase, and 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 by origination volume include: Salt Lake City, Ogden, Provo, Heber, and St. George among others. We have data for 8 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.

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SimulatedRates™

Mortgage Type
Simulated Rate Simulation Date
Home Equity Line of Credit (HELOC) 3.93% 3/24/24
30 Year Conventional Purchase 6.63% 3/24/24
30 Year Conventional Refi 6.16% 3/24/24
30 Year Cash-out Refi 6.67% 3/24/24
30 Year FHA Purchase 6.27% 3/24/24
30 Year VA Purchase 6.27% 3/24/24
15 Year Conventional Purchase 5.75% 3/24/24
15 Year Conventional Refi 5.99% 3/24/24
15 Year Cash-out Refi 5.99% 3/24/24
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

1,551

Origination Dollar Volume (All Markets)

$255,495,000

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
SALT LAKE CITY, UT (FHA|USDA|VA) 1,236 $199,820,000 $161,667 $4,707 3.36%
OGDEN-CLEARFIELD, UT (FHA|USDA|VA) 179 $28,375,000 $158,520 $4,760 3.40%
PROVO-OREM, UT (FHA|USDA|VA) 80 $13,680,000 $171,000 $6,015 3.38%
Heber, UT (FHA|USDA|VA) 30 $9,240,000 $308,000 $9,880 3.82%
Outside of Metro Areas 13 $2,395,000 $184,231 $5,877 3.95%
ST. GEORGE, UT (FHA|USDA|VA) 11 $1,895,000 $172,273 $4,775 3.09%
Price, UT (FHA|USDA|VA) 1 $65,000 $65,000 $0 1.99%
LOGAN, UT-ID (FHA|USDA|VA) 1 $25,000 $25,000 $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.

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    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    HELOC 830 $67,350,000 $81,145 n/a 2.63%
    Conventional 708 $184,330,000 $260,353 $4,859 4.23%
    FHA 10 $2,510,000 $251,000 $0 3.93%
    VA 3 $1,305,000 $435,000 $9,160 3.38%

    For 2019, University First Federal Credit Union's most frequently originated type of loan was HELOC, with 830 originations. Their 2nd most popular type was Conventional, with 708 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Improvement 436 $33,790,000 $77,500 $0 2.70%
    Cash Out Refi 301 $61,105,000 $203,007 $4,636 4.34%
    Other 298 $21,240,000 $71,275 $0 2.57%
    Home Purchase 277 $78,005,000 $281,606 $5,062 4.08%
    Refi 239 $61,355,000 $256,715 $4,963 3.56%

    For 2019, University First Federal Credit Union's most frequently cited loan purpose was Home Improvement, with 436 originations. The 2nd most popular reason was Cash Out Refi, with 301 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    20 Year 877 $79,495,000 $90,644 $4,413 2.70%
    30 Year 435 $129,155,000 $296,908 $5,000 4.13%
    15 Year 109 $25,975,000 $238,303 $4,202 3.33%
    10 Year 54 $4,580,000 $84,815 $4,721 6.12%
    Other 32 $5,430,000 $169,688 $10,316 5.17%
    5 Year 26 $1,870,000 $71,923 $0 4.01%
    1 Year 18 $8,990,000 $499,444 $9,198 5.91%

    For 2019, University First Federal Credit Union's most frequently cited loan duration was 20 Year, with 877 originations. The 2nd most popular length was 30 Year, with 435 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $2k-3k 205 $60,195,000 $293,634
    $1k-2k 196 $43,910,000 $224,031
    $3k-4k 86 $31,060,000 $361,163
    $<1k 52 $8,080,000 $155,385
    $4k-5k 35 $14,095,000 $402,714
    $5k+ 28 $14,240,000 $508,571

    University First Federal Credit Union's average total fees were $5,000, while their most frequently occuring range of origination fees (closing costs) were in the $2k-3k bucket, with 205 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    <2.5% 477 $39,305,000 $82,400
    3-4% 364 $101,540,000 $278,956
    2.5-3% 342 $28,460,000 $83,216
    4-5% 240 $64,110,000 $267,125
    5-6% 65 $13,435,000 $206,692
    6-7% 31 $6,615,000 $213,387
    7-8% 18 $1,220,000 $67,778
    Over 8% 14 $810,000 $57,857

    During 2019, University First Federal Credit Union's average interest rate for loans was 4.13%, while their most frequently originated rate bucket for loans was <2.5%, with 477 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 708 $36,530,000 $51,596 $2,349 3.00%
    $200k-400k 432 $121,440,000 $281,111 $4,852 3.86%
    $100k-200k 302 $42,850,000 $141,887 $3,533 3.20%
    $400k-600k 99 $46,695,000 $471,667 $6,791 4.26%
    $600k-1MM 9 $5,975,000 $663,889 $7,802 4.72%
    $1MM+ 1 $2,005,000 $2,005,000 $44,928 4.74%

    2019 saw University First Federal Credit Union place emphasis on $100,000 or less loans with 708 originations, totaling $36,530,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 424 $71,590,000 $168,844 $5,405 3.20%
    $50k-75k 353 $51,215,000 $145,085 $4,297 3.56%
    $75k-100k 338 $54,500,000 $161,243 $4,725 3.37%
    $150k-250k 218 $40,250,000 $184,633 $5,647 3.37%
    $50k or less 116 $12,170,000 $104,914 $3,514 3.34%
    $250k+ 70 $19,930,000 $284,714 $9,008 3.54%

    University First Federal Credit Union lent most frequently to those with incomes in the $100k-150k range, with 424 originations. The second most popular income band? $50k-75k, with 353 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 366 $65,690,000 $179,481 $4,875 3.19%
    30-36% 300 $53,550,000 $178,500 $4,950 3.44%
    <20% 137 $22,455,000 $163,905 $4,546 3.13%
    43% 124 $15,430,000 $124,435 $5,197 3.19%
    42% 92 $9,150,000 $99,457 $4,450 3.50%
    40% 65 $9,365,000 $144,077 $4,696 3.48%
    44% 64 $7,950,000 $124,219 $4,356 3.27%
    41% 62 $9,120,000 $147,097 $5,645 3.38%
    39% 60 $9,930,000 $165,500 $4,952 3.25%
    38% 53 $7,505,000 $141,604 $4,867 3.70%
    36% 51 $7,805,000 $153,039 $4,714 3.60%
    37% 47 $7,865,000 $167,340 $4,977 3.65%
    45% 35 $4,425,000 $126,429 $5,373 3.14%
    49% 22 $5,870,000 $266,818 $5,059 3.67%
    48% 19 $4,165,000 $219,211 $4,309 3.62%
    46% 17 $3,855,000 $226,765 $4,348 3.67%
    47% 15 $3,355,000 $223,667 $4,900 3.67%
    50-60% 8 $2,050,000 $256,250 $5,853 4.42%
    >60% 4 $830,000 $207,500 $10,482 4.80%

    University First Federal Credit Union lent most frequently to those with DTI ratios of 20-30%, with 366 originations. The next most common DTI ratio? 30-36%, with 300 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 1,404 $233,380,000 $166,225 $4,881 3.41%
    Asian 47 $10,835,000 $230,532 $4,879 3.42%
    Not provided 70 $6,400,000 $91,429 $5,104 2.51%
    Black 11 $2,165,000 $196,818 $4,847 3.74%
    American Indian 9 $1,205,000 $133,889 $6,888 3.13%
    Native Hawaiian or Islander 8 $1,200,000 $150,000 $4,175 3.23%
    Asian Indian 2 $310,000 $155,000 $4,727 3.37%

    Approval Rates

    Total approvals of all applications
    84.30%

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

    Pick Rate

    Approvals leading to origination
    74.98%

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

    Points and Fees

    Points Originations Total Value Average Loan
    NA 1,551 $255,495,000 $164,729

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Single Family (1-4 Units):Manufactured 3 $435,000 $145,000
    Single Family (1-4 Units):Site-Built 1,548 $255,060,000 $164,767

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 286 $35,260,000 $123,287 $3,182 2.96%
    40-60% 158 $35,890,000 $227,152 $3,978 3.46%
    60-80% 279 $84,705,000 $303,602 $5,103 4.10%
    80-100% 204 $65,930,000 $323,186 $5,415 4.19%
    Over 100% 2 $840,000 $420,000 $5,461 6.00%
    Under 20% 622 $32,870,000 $52,846 $2,319 2.94%

    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%