University First Federal Credit Union Mortgage Rates, Fees & Info

Salt Lake City, UT

LEI: 5493000KQ2PZ8G6VNI80

Tax ID: 87-0234218

Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data

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  • SimulatedRates™
  • Mortgage Calculator

    • Mortgage Data

  • Originations
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • Complaints
  • Similar Lenders
  • Loan Length
  • Loan to Value Info
  • Debt-to-Income
  • Applicant Income
  • Ethnicity Info
  • Approval & Pick Rates
  • Points and Fees
  • Origination Fees (Closing Costs)

    • Review & 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 by origination volume include: Salt Lake City, Ogden, Provo, Heber, and St. George among others. We have data for 9 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 a low 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% 11/21/24
    30 Year Conventional Purchase 6.63% 11/21/24
    30 Year Conventional Refi 6.16% 11/21/24
    30 Year Cash-out Refi 6.67% 11/21/24
    30 Year FHA Purchase 6.27% 11/21/24
    30 Year VA Purchase 6.27% 11/21/24
    15 Year Conventional Purchase 5.75% 11/21/24
    15 Year Conventional Refi 5.99% 11/21/24
    15 Year Cash-out Refi 5.99% 11/21/24
    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

    2,475

    Origination Dollar Volume (All Markets)

    $542,045,000
    Show all (7) awards

    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) 1,936 $424,130,000 $219,075 $3,880 2.68%
    OGDEN-CLEARFIELD, UT (FHA|USDA|VA) 272 $55,500,000 $204,044 $3,579 2.64%
    PROVO-OREM, UT (FHA|USDA|VA) 148 $30,430,000 $205,608 $4,476 2.57%
    Heber, UT (FHA|USDA|VA) 62 $18,930,000 $305,323 $5,061 2.66%
    Outside of Metro Areas 25 $5,935,000 $237,400 $4,181 2.78%
    ST. GEORGE, UT (FHA|USDA|VA) 23 $4,955,000 $215,435 $3,562 2.58%
    LOGAN, UT-ID (FHA|USDA|VA) 5 $1,345,000 $269,000 $2,735 2.67%
    Price, UT (FHA|USDA|VA) 2 $440,000 $220,000 $2,518 3.75%
    Cedar City, UT (FHA|USDA|VA) 2 $380,000 $190,000 $3,347 2.38%
    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.

    WEBER STATE FEDERAL CREDIT UNION
    Similarity Rank: 329
    State Bank of Southern Utah
    Similarity Rank: 420
    Jordan Federal Credit Union
    Similarity Rank: 430
    BLUE BRICK FINANCIAL LLC
    Similarity Rank: 800
    D. L. Evans Bank
    Similarity Rank: 2030
    HOMEAMERICAN MORTGAGE CORPORATION
    Similarity Rank: 2211
    University First Federal Credit Union
    Similarity Rank: 3096
    PREMIA MORTGAGE, LLC
    Similarity Rank: 3339
    TRANSWEST CREDIT UNION
    Similarity Rank: 3480
    Raymond James Bank
    Similarity Rank: 4199

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 1,669 $467,605,000 $280,171 $3,904 2.94%
    HELOC 804 $73,740,000 $91,716 n/a 2.10%
    FHA 2 $700,000 $350,000 $0 3.69%

    For 2020, University First Federal Credit Union's most frequently originated type of loan was Conventional, with 1,669 originations. Their 2nd most popular type was HELOC, with 804 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Refi 904 $237,370,000 $262,577 $3,658 2.80%
    Cash Out Refi 608 $167,480,000 $275,461 $4,057 3.00%
    Home Improvement 412 $34,650,000 $84,102 $0 2.08%
    Home Purchase 284 $81,600,000 $287,324 $4,401 3.01%
    Other 267 $20,945,000 $78,446 $0 2.03%

    For 2020, University First Federal Credit Union's most frequently cited loan purpose was Refi, with 904 originations. The 2nd most popular reason was Cash Out Refi, with 608 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 1,073 $321,835,000 $299,939 $4,139 3.05%
    20 Year 946 $111,250,000 $117,600 $3,593 2.22%
    15 Year 387 $93,565,000 $241,770 $3,487 2.57%
    10 Year 42 $9,050,000 $215,476 $2,812 2.95%
    5 Year 15 $1,675,000 $111,667 $205 3.36%
    Other 9 $1,225,000 $136,111 $2,890 5.41%
    1 Year 3 $3,445,000 $1,148,333 $24,690 4.74%

    For 2020, University First Federal Credit Union's most frequently cited loan duration was 30 Year, with 1,073 originations. The 2nd most popular length was 20 Year, with 946 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 582 $131,210,000 $225,447
    $1k-2k 564 $143,330,000 $254,131
    $2k-3k 293 $91,195,000 $311,246
    $3k-4k 138 $53,940,000 $390,870
    $4k-5k 51 $21,785,000 $427,157
    $5k+ 39 $24,835,000 $636,795

    University First Federal Credit Union's average total fees were $4,139, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 582 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    <2.5% 1,207 $179,385,000 $148,621
    2.5-3% 669 $190,715,000 $285,075
    3-4% 536 $153,780,000 $286,903
    4-5% 41 $15,055,000 $367,195
    5-6% 10 $2,070,000 $207,000
    6-7% 7 $665,000 $95,000
    7-8% 3 $225,000 $75,000
    Over 8% 2 $150,000 $75,000

    During 2020, University First Federal Credit Union's average interest rate for loans was 3.05%, while their most frequently originated rate bucket for loans was <2.5%, with 1,207 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 1,066 $299,060,000 $280,544 $3,929 2.89%
    $100,000 or less 587 $31,735,000 $54,063 $1,556 2.20%
    $100k-200k 570 $85,490,000 $149,982 $2,816 2.61%
    $400k-600k 226 $104,670,000 $463,142 $5,580 2.94%
    $600k-1MM 23 $15,915,000 $691,957 $8,835 3.15%
    $1MM+ 3 $5,175,000 $1,725,000 $26,323 4.16%

    2020 saw University First Federal Credit Union place emphasis on $200k-400k loans with 1,066 originations, totaling $299,060,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 679 $155,805,000 $229,462 $4,159 2.64%
    $75k-100k 499 $100,545,000 $201,493 $3,694 2.72%
    $50k-75k 479 $90,145,000 $188,194 $3,525 2.73%
    $150k-250k 433 $107,225,000 $247,633 $4,345 2.60%
    $50k or less 191 $26,905,000 $140,864 $3,029 2.67%
    $250k+ 130 $45,650,000 $351,154 $5,541 2.56%

    University First Federal Credit Union lent most frequently to those with incomes in the $100k-150k range, with 679 originations. The second most popular income band? $75k-100k, with 499 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 718 $168,120,000 $234,150 $3,898 2.68%
    30-36% 487 $113,575,000 $233,214 $3,886 2.69%
    <20% 361 $76,205,000 $211,094 $3,469 2.54%
    38% 104 $20,770,000 $199,712 $3,970 2.58%
    43% 100 $17,280,000 $172,800 $4,041 2.59%
    42% 94 $18,150,000 $193,085 $4,333 2.68%
    41% 88 $18,230,000 $207,159 $4,370 2.74%
    36% 88 $18,630,000 $211,705 $3,979 2.60%
    44% 87 $16,305,000 $187,414 $4,260 2.65%
    40% 84 $13,890,000 $165,357 $3,539 2.72%
    37% 68 $14,260,000 $209,706 $4,524 2.72%
    39% 64 $14,590,000 $227,969 $4,186 2.92%
    45% 47 $8,275,000 $176,064 $4,344 2.51%
    47% 25 $7,595,000 $303,800 $4,143 2.84%
    49% 19 $5,055,000 $266,053 $3,978 3.11%
    46% 17 $3,585,000 $210,882 $3,581 2.98%
    48% 17 $5,065,000 $297,941 $4,463 3.02%
    50-60% 5 $1,725,000 $345,000 $3,943 3.28%
    >60% 2 $740,000 $370,000 $0 4.19%

    University First Federal Credit Union lent most frequently to those with DTI ratios of 20-30%, with 718 originations. The next most common DTI ratio? 30-36%, with 487 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 2,218 $491,970,000 $221,808 $3,931 2.68%
    Asian 95 $22,605,000 $237,947 $3,500 2.72%
    Not provided 115 $18,595,000 $161,696 $3,763 2.40%
    Black 15 $3,205,000 $213,667 $3,886 2.56%
    American Indian 15 $2,285,000 $152,333 $3,068 2.64%
    Asian Indian 5 $1,665,000 $333,000 $3,737 2.80%
    Native Hawaiian or Islander 9 $885,000 $98,333 $4,208 2.14%
    Other Asian 1 $505,000 $505,000 $6,988 2.88%
    Not applicable 1 $185,000 $185,000 $3,930 3.25%
    Chinese 1 $145,000 $145,000 $2,169 2.00%

    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
    81.13%

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

    Points and Fees

    Points Originations Total Value Average Loan
    NA 2,475 $542,045,000 $219,008

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Manufactured 1 $355,000 $355,000
    Multifamily:Site-Built 1 $405,000 $405,000
    Single Family (1-4 Units):Manufactured 1 $85,000 $85,000
    Single Family (1-4 Units):Site-Built 2,472 $541,200,000 $218,932

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 389 $58,915,000 $151,452 $2,866 2.36%
    40-60% 543 $132,355,000 $243,748 $3,436 2.74%
    60-80% 720 $228,150,000 $316,875 $4,270 3.00%
    80-100% 264 $87,110,000 $329,962 $4,679 3.16%
    Over 100% 2 $1,610,000 $805,000 $17,865 4.37%
    Under 20% 557 $33,905,000 $60,871 $1,268 2.15%

    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%