United Financial Credit Union Mortgage Rates, Fees & Info

Saginaw, MI

LEI: 5493001BHN5KL2O67M10

Tax ID: 38-1777731

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Mortgage Data

Review & Overview

United Financial Credit Union is a smaller credit union specializing in Cash Out Refi and Home Purchase loans. United Financial Credit Union has a high proportion of conventional loans. United Financial Credit Union has a low ratio of conventional loans.They have a low ratio of USDA loans. Their top markets by origination volume include: Saginaw, Bay City, Flint, Detroit, and Midland among others. We have data for 9 markets. (Some data included below & more in-depth data is available with an active subscription.)

United Financial Credit Union has an above average approval rate when compared to the average across all lenders. They have a below average pick rate when compared to similar lenders. United Financial 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.

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SimulatedRates™

Mortgage Type
Simulated Rate Simulation Date
30 Year Conventional Purchase 7.10% 10/31/24
30 Year Conventional Refi 6.63% 10/31/24
30 Year Cash-out Refi 7.37% 10/31/24
30 Year USDA Purchase 6.27% 10/31/24
15 Year Conventional Purchase 7.07% 10/31/24
15 Year Conventional Refi 6.73% 10/31/24
15 Year Cash-out Refi 6.73% 10/31/24
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.

United Financial Credit Union Mortgage Calculator






Your Estimates

Estimated Loan Payment: Update the calculator values and click calculate payment!

This is not an official calculator from United Financial 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

215

Origination Dollar Volume (All Markets)

$25,685,000

Awards

UNITED FINANCIAL Credit Union 30 Year Conventional Loans silver UNITED FINANCIAL Credit Union 30 Year Conventional Loans bronze UNITED FINANCIAL Credit Union 30 Year Conventional Loans silver
Show all (3) 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
SAGINAW, MI (FHA|USDA|VA) 132 $14,730,000 $111,591 $2,472 3.10%
Outside of Metro Areas 25 $3,005,000 $120,200 $2,823 3.00%
BAY CITY, MI (FHA|USDA|VA) 30 $2,970,000 $99,000 $2,470 3.03%
FLINT, MI (FHA|USDA|VA) 6 $1,320,000 $220,000 $3,369 3.23%
Detroit-Warren-Dearborn, MI (FHA|USDA|VA) 8 $1,320,000 $165,000 $2,818 3.11%
MIDLAND, MI (FHA|USDA|VA) 9 $1,255,000 $139,444 $2,884 3.13%
GRAND RAPIDS-KENTWOOD, MI (FHA|USDA|VA) 3 $825,000 $275,000 $3,077 3.54%
LANSING-EAST LANSING, MI (FHA|USDA|VA) 1 $155,000 $155,000 $2,672 2.88%
Mount Pleasant, MI (FHA|USDA|VA) 1 $105,000 $105,000 $2,489 3.38%
United Financial Credit Union's top markets include Saginaw, Bay City, Flint, Detroit, and Midland among others.

Their top states include:
  • Michigan (FHA|USDA|VA)
  • Similar Lenders

    We use machine learning to identify the top lenders compared against UNITED FINANCIAL Credit Union based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.

    SUNRISE FAMILY CREDIT UNION
    Similarity Rank: 54
    Isabella Bank
    Similarity Rank: 84
    Lake Huron Credit Union
    Similarity Rank: 204
    1st State Financial, Ltd.
    Similarity Rank: 330
    JOLT CREDIT UNION
    Similarity Rank: 360
    Dort Financial Credit Union
    Similarity Rank: 420
    UNITED FINANCIAL Credit Union
    Similarity Rank: 495
    FINANCIAL PLUS CREDIT UNION
    Similarity Rank: 522
    Wanigas Credit Union
    Similarity Rank: 663

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 213 $25,425,000 $119,366 $2,569 3.09%
    Conventional 1 $115,000 $115,000 $0 0.00%
    USDA 1 $145,000 $145,000 $4,229 2.63%

    For 2021, United Financial Credit Union's most frequently originated type of loan was Conventional, with 213 originations. Their 2nd most popular type was Conventional, with 1 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Cash Out Refi 76 $8,480,000 $111,579 $2,417 3.07%
    Home Purchase 75 $10,695,000 $142,600 $2,990 3.16%
    Refi 37 $3,795,000 $102,568 $2,368 2.79%
    Home Improvement 14 $1,450,000 $103,571 $2,283 3.44%
    Other 13 $1,265,000 $97,308 $2,218 3.23%

    For 2021, United Financial Credit Union's most frequently cited loan purpose was Cash Out Refi, with 76 originations. The 2nd most popular reason was Home Purchase, with 75 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 110 $13,400,000 $121,818 $2,551 3.25%
    15 Year 52 $5,400,000 $103,846 $2,326 2.82%
    20 Year 22 $2,820,000 $128,182 $2,446 3.17%
    10 Year 18 $1,370,000 $76,111 $2,300 2.55%
    Other 7 $655,000 $93,571 $3,042 3.38%
    30+ year 6 $2,040,000 $340,000 $6,098 3.38%

    For 2021, United Financial Credit Union's most frequently cited loan duration was 30 Year, with 110 originations. The 2nd most popular length was 15 Year, with 52 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $1k-2k 188 $21,880,000 $116,383
    $<1k 9 $705,000 $78,333
    $2k-3k 7 $1,965,000 $280,714
    $3k-4k 1 $455,000 $455,000

    United Financial Credit Union's average total fees were $2,551, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 188 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    3-4% 91 $12,195,000 $134,011
    2.5-3% 73 $8,925,000 $122,260
    <2.5% 40 $3,690,000 $92,250
    4-5% 7 $665,000 $95,000
    5-6% 2 $60,000 $30,000
    6-7% 1 $35,000 $35,000

    During 2021, United Financial Credit Union's average interest rate for loans was 3.25%, while their most frequently originated rate bucket for loans was 3-4%, with 91 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 103 $6,535,000 $63,447 $2,299 3.08%
    $100k-200k 87 $11,665,000 $134,080 $2,582 3.06%
    $200k-400k 21 $5,635,000 $268,333 $3,228 3.21%
    $400k-600k 4 $1,850,000 $462,500 $5,769 3.28%

    2021 saw United Financial Credit Union place emphasis on $100,000 or less loans with 103 originations, totaling $6,535,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 58 $6,300,000 $108,621 $2,486 2.92%
    $50k or less 57 $4,585,000 $80,439 $2,416 3.08%
    $100k-150k 43 $6,195,000 $144,070 $2,804 3.22%
    $75k-100k 40 $4,510,000 $112,750 $2,396 3.22%
    $150k-250k 14 $3,010,000 $215,000 $3,375 2.96%
    $250k+ 2 $970,000 $485,000 $3,267 3.38%

    United Financial Credit Union lent most frequently to those with incomes in the $50k-75k range, with 58 originations. The second most popular income band? $50k or less, with 57 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 65 $7,585,000 $116,692 $2,532 3.08%
    30-36% 51 $6,745,000 $132,255 $2,649 3.10%
    <20% 43 $4,595,000 $106,860 $2,463 3.04%
    43% 6 $800,000 $133,333 $2,514 3.27%
    36% 6 $900,000 $150,000 $3,433 3.02%
    37% 6 $640,000 $106,667 $2,437 3.31%
    38% 5 $465,000 $93,000 $2,384 2.93%
    40% 5 $635,000 $127,000 $2,372 3.08%
    44% 4 $460,000 $115,000 $2,497 2.94%
    47% 4 $520,000 $130,000 $2,393 3.09%
    45% 4 $690,000 $172,500 $3,228 3.56%
    >60% 3 $345,000 $115,000 $3,472 3.04%
    39% 3 $305,000 $101,667 $2,399 2.92%
    46% 2 $200,000 $100,000 $2,439 3.31%
    41% 2 $210,000 $105,000 $2,702 3.44%
    42% 1 $135,000 $135,000 $2,475 2.75%
    49% 1 $75,000 $75,000 $2,567 3.50%

    United Financial Credit Union lent most frequently to those with DTI ratios of 20-30%, with 65 originations. The next most common DTI ratio? 30-36%, with 51 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 164 $19,660,000 $119,878 $2,550 3.03%
    Not provided 43 $5,005,000 $116,395 $2,684 3.28%
    Black 3 $645,000 $215,000 $2,874 3.38%
    Not applicable 1 $115,000 $115,000 $0 0.00%
    Asian 2 $110,000 $55,000 $0 3.25%
    Native Hawaiian or Islander 1 $95,000 $95,000 $2,548 3.50%
    American Indian 1 $55,000 $55,000 $2,186 2.88%

    Approval Rates

    Total approvals of all applications
    91.82%

    United Financial Credit Union has an average approval rate.

    Pick Rate

    Approvals leading to origination
    69.77%

    United Financial Credit Union has a low pick rate. They may have issues with closing loans or may approve everyone, but with onerous loan terms.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 215 $25,685,000 $119,465

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    215 $25,685,000 $119,465

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 20 $1,230,000 $61,500 $2,249 2.81%
    40-60% 41 $4,215,000 $102,805 $2,544 2.86%
    60-80% 80 $10,760,000 $134,500 $2,649 3.14%
    80-100% 66 $8,790,000 $133,182 $2,698 3.17%
    Over 100% 1 $115,000 $115,000 $0 0.00%
    Under 20% 3 $75,000 $25,000 $1,001 4.62%

    Complaints

    Bank Name Product Issue 2021 CPFB Complaints % of Total Issues
    United Shore Financial Services, LLC VA mortgage Applying for a mortgage or refinancing an existing mortgage 3 1.5%
    United Shore Financial Services, LLC Other type of mortgage Closing on a mortgage 1 0.5%
    United Shore Financial Services, LLC FHA mortgage Problem with a credit reporting company's investigation into an existing problem 1 0.5%
    United Shore Financial Services, LLC Conventional home mortgage Applying for a mortgage or refinancing an existing mortgage 8 4.0%
    United Shore Financial Services, LLC Conventional home mortgage Closing on a mortgage 12 6.0%
    United Shore Financial Services, LLC Conventional home mortgage Incorrect information on your report 3 1.5%
    United Shore Financial Services, LLC Conventional home mortgage Problem with a credit reporting company's investigation into an existing problem 2 1.0%
    United Shore Financial Services, LLC Conventional home mortgage Struggling to pay mortgage 10 5.0%
    United Shore Financial Services, LLC Conventional home mortgage Trouble during payment process 119 59.5%
    United Shore Financial Services, LLC FHA mortgage Applying for a mortgage or refinancing an existing mortgage 3 1.5%
    United Shore Financial Services, LLC FHA mortgage Closing on a mortgage 3 1.5%
    United Shore Financial Services, LLC FHA mortgage Credit monitoring or identity theft protection services 1 0.5%
    United Shore Financial Services, LLC FHA mortgage Incorrect information on your report 1 0.5%
    United Shore Financial Services, LLC Other type of mortgage Applying for a mortgage or refinancing an existing mortgage 3 1.5%
    United Shore Financial Services, LLC FHA mortgage Trouble during payment process 9 4.5%
    United Shore Financial Services, LLC VA mortgage Trouble during payment process 12 6.0%
    United Shore Financial Services, LLC FHA mortgage Struggling to pay mortgage 5 2.5%
    United Shore Financial Services, LLC VA mortgage Struggling to pay mortgage 2 1.0%
    United Shore Financial Services, LLC VA mortgage Closing on a mortgage 2 1.0%