University First Federal Credit Union Mortgage Rates, Fees & Info
Salt Lake City, UTLEI: 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 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 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 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.
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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| Home Equity Line of Credit (HELOC) | 3.93% | 4/18/24 |
| 30 Year Conventional Purchase | 6.63% | 4/18/24 |
| 30 Year Conventional Refi | 6.16% | 4/18/24 |
| 30 Year Cash-out Refi | 6.67% | 4/18/24 |
| 30 Year FHA Purchase | 6.27% | 4/18/24 |
| 30 Year VA Purchase | 6.27% | 4/18/24 |
| 15 Year Conventional Purchase | 5.75% | 4/18/24 |
| 15 Year Conventional Refi | 5.99% | 4/18/24 |
| 15 Year Cash-out Refi | 5.99% | 4/18/24 |
| 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
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
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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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) | 1,473 | $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% |
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 |
|---|---|---|---|---|---|
| Conventional | 982 | $290,300,000 | $295,621 | $3,455 | 2.92% |
| HELOC | 913 | $93,885,000 | $102,831 | n/a | 1.93% |
| FHA | 1 | $305,000 | $305,000 | $0 | 3.88% |
For 2021, University First Federal Credit Union's most frequently originated type of loan was Conventional, with 982 originations. Their 2nd most popular type was HELOC, with 913 originations.
Loan Reason
For 2021, University First Federal Credit Union's most frequently cited loan purpose was Home Improvement, with 511 originations. The 2nd most popular reason was Refi, with 420 originations.
Loan Duration/Length
For 2021, University First Federal Credit Union's most frequently cited loan duration was 20 Year, with 975 originations. The 2nd most popular length was 30 Year, with 584 originations.
Origination Fees/Closing Costs
University First Federal Credit Union's average total fees were $3,753, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 544 originations.
Interest Rates
During 2021, University First Federal Credit Union's average interest rate for loans was 3.10%, while their most frequently originated rate bucket for loans was <2.5%, with 1,090 originations.
Loan Sizing
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
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
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
Approval Rates
Total approvals of all applications87.17%
University First Federal Credit Union has an average approval rate.
Pick Rate
Approvals leading to origination70.36%
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 |
LTV Distribution
Complaints
| Bank Name | Product | Issue | 2021 CPFB Complaints | % of Total Issues |
|---|---|---|---|---|
| UNIVERSAL LENDING CORP. | Conventional home mortgage | Struggling to pay mortgage | 1 | 100.0% |