United Financial Credit Union Mortgage Rates, Fees & Info
Saginaw, MILEI: 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
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
215Origination Dollar Volume (All Markets)
$25,685,000UNITED FINANCIAL Credit Union - 2021
UNITED FINANCIAL 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 |
---|---|---|---|---|---|
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% |
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.
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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
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
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
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
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
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
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
Approval Rates
Total approvals of all applications91.82%
United Financial Credit Union has an average approval rate.
Pick Rate
Approvals leading to origination69.77%
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 |
LTV Distribution
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% |