United Credit Union Mortgage Rates, Fees & Info
Mexico, MOLEI: 5493000LMWUP8XI9UY21
Tax ID: 43-0300770
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Mortgage Data
Review & Overview
United Credit Union is a smaller credit union specializing in Refi and Home Purchase loans. United Credit Union has a high proportion of conventional loans. United Credit Union has a low ratio of conventional loans. Their top markets by origination volume include: Mexico, Jefferson City, St. Louis, Moberly, and Columbia among others. We have data for 7 markets. (Some data included below & more in-depth data is available with an active subscription.)United Credit Union has a below average approval rate when compared to the average across all lenders. They have a below average pick rate when compared to similar lenders.
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Originations
91Origination Dollar Volume (All Markets)
$6,865,000Top 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 |
|---|---|---|---|---|---|
| Mexico, MO (FHA|USDA|VA) | 43 | $2,715,000 | $63,140 | $676 | 11.38% |
| JEFFERSON CITY, MO (FHA|USDA|VA) | 11 | $1,445,000 | $131,364 | $0 | 0.00% |
| Outside of Metro Areas | 13 | $815,000 | $62,692 | $0 | 0.00% |
| ST. LOUIS, MO-IL (FHA|USDA|VA) | 4 | $630,000 | $157,500 | $0 | 0.00% |
| Moberly, MO (FHA|USDA|VA) | 12 | $580,000 | $48,333 | $0 | 0.00% |
| COLUMBIA, MO (FHA|USDA|VA) | 5 | $515,000 | $103,000 | $0 | 0.00% |
| Hannibal, MO (FHA|USDA|VA) | 3 | $165,000 | $55,000 | $0 | 0.00% |
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 90 | $6,850,000 | $76,111 | $0 | 0.00% |
| Conventional | 1 | $15,000 | $15,000 | $676 | 11.38% |
For 2018, United Credit Union's most frequently originated type of loan was Conventional, with 90 originations. Their 2nd most popular type was Conventional, with 1 originations.
Loan Reason
For 2018, United Credit Union's most frequently cited loan purpose was Refi, with 57 originations. The 2nd most popular reason was Home Purchase, with 22 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Other | 90 | $6,850,000 | $76,111 | $0 | 0.00% |
| 10 Year | 1 | $15,000 | $15,000 | $676 | 11.38% |
For 2018, United Credit Union's most frequently cited loan duration was Other, with 90 originations. The 2nd most popular length was 10 Year, with 1 originations.
Origination Fees/Closing Costs
| Origination Fee/Closing Cost | Originations | Total Value | Average Loan |
|---|---|---|---|
| $<1k | 1 | $15,000 | $15,000 |
United Credit Union's average total fees were $0, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 1 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| Over 8% | 1 | $15,000 | $15,000 |
During 2018, United Credit Union's average interest rate for loans was 0.00%, while their most frequently originated rate bucket for loans was Over 8%, with 1 originations.
Loan Sizing
2018 saw United Credit Union place emphasis on $100,000 or less loans with 68 originations, totaling $2,780,000 in origination value.
Applicant Income
United Credit Union lent most frequently to those with incomes in the $50k or less range, with 32 originations. The second most popular income band? $75k-100k, with 20 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Exempt% | 90 | $6,850,000 | $76,111 | $0 | 0.00% |
| <20% | 1 | $15,000 | $15,000 | $676 | 11.38% |
United Credit Union lent most frequently to those with DTI ratios of Exempt%, with 90 originations. The next most common DTI ratio? <20%, with 1 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications67.21%
United Credit Union has a low approval rate. They may have poor market targeting or stringent lending standards.
Pick Rate
Approvals leading to origination72.53%
United Credit Union has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| Exempt | 90 | $6,850,000 | $76,111 |
| NA | 1 | $15,000 | $15,000 |
Occupancy Type Mix
| Dwelling Type | Originations | Total Value | Average Loan |
|---|---|---|---|
| Single Family (1-4 Units):Manufactured | 3 | $165,000 | $55,000 |
| Single Family (1-4 Units):Site-Built | 88 | $6,700,000 | $76,136 |
LTV Distribution
| Loan to Value | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| 40-60% | 1 | $15,000 | $15,000 | $676 | 11.38% |
Complaints
| Bank Name | Product | Issue | 2018 CPFB Complaints | % of Total Issues |
|---|---|---|---|---|
| UNITED GUARANTY CORPORATION | Conventional home mortgage | Applying for a mortgage or refinancing an existing mortgage | 1 | 33.3% |
| UNITED GUARANTY CORPORATION | Other type of mortgage | Struggling to pay mortgage | 1 | 33.3% |
| UNITED GUARANTY CORPORATION | FHA mortgage | Trouble during payment process | 1 | 33.3% |