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 Home Purchase loans. United Financial Credit Union has a high proportion of conventional loans. They have a low ratio of USDA loans. Their top markets by origination volume include: Saginaw, Bay City, Midland, Detroit, and Mount Pleasant 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 average approval rate when compared to the average across all lenders. They have a below average pick rate when compared to similar lenders.
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% | 11/21/24 |
| 30 Year Conventional Refi | 6.63% | 11/21/24 |
| 30 Year Cash-out Refi | 7.37% | 11/21/24 |
| 30 Year USDA Purchase | 6.27% | 11/21/24 |
| 15 Year Conventional Purchase | 7.07% | 11/21/24 |
| 15 Year Conventional Refi | 6.73% | 11/21/24 |
| 15 Year Cash-out Refi | 6.73% | 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. | ||
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
103Origination Dollar Volume (All Markets)
$9,555,000Top 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 |
|---|---|---|---|---|---|
| SAGINAW, MI (FHA|USDA|VA) | 74 | $6,840,000 | $92,432 | $0 | 0.00% |
| BAY CITY, MI (FHA|USDA|VA) | 11 | $875,000 | $79,545 | $0 | 0.00% |
| Outside of Metro Areas | 8 | $780,000 | $97,500 | $0 | 0.00% |
| MIDLAND, MI (FHA|USDA|VA) | 3 | $325,000 | $108,333 | $0 | 0.00% |
| Detroit-Warren-Dearborn, MI (FHA|USDA|VA) | 2 | $300,000 | $150,000 | $0 | 0.00% |
| Mount Pleasant, MI (FHA|USDA|VA) | 2 | $190,000 | $95,000 | $0 | 0.00% |
| MUSKEGON, MI (FHA|USDA|VA) | 1 | $125,000 | $125,000 | $0 | 0.00% |
| Houghton, MI (FHA|USDA|VA) | 1 | $85,000 | $85,000 | $0 | 0.00% |
| LANSING-EAST LANSING, MI (FHA|USDA|VA) | 1 | $35,000 | $35,000 | $0 | 0.00% |
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 | 100 | $9,260,000 | $92,600 | $0 | 0.00% |
| USDA | 3 | $295,000 | $98,333 | $0 | 0.00% |
For 2018, United Financial Credit Union's most frequently originated type of loan was Conventional, with 100 originations. Their 2nd most popular type was USDA, with 3 originations.
Loan Reason
For 2018, United Financial Credit Union's most frequently cited loan purpose was Home Purchase, with 64 originations. The 2nd most popular reason was Cash Out Refi, with 16 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Other | 103 | $9,555,000 | $92,767 | $0 | 0.00% |
For 2018, United Financial Credit Union's most frequently cited loan duration was Other, with 103 originations.
Loan Sizing
2018 saw United Financial Credit Union place emphasis on $100,000 or less loans with 65 originations, totaling $3,765,000 in origination value.
Applicant Income
United Financial Credit Union lent most frequently to those with incomes in the $50k or less range, with 36 originations. The second most popular income band? $50k-75k, with 34 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Exempt% | 103 | $9,555,000 | $92,767 | $0 | 0.00% |
United Financial Credit Union lent most frequently to those with DTI ratios of Exempt%, with 103 originations.
Ethnicity Mix
| Applicant Ethnicity | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| White | 98 | $9,300,000 | $94,898 | $0 | 0.00% |
| Black | 2 | $150,000 | $75,000 | $0 | 0.00% |
| Not provided | 3 | $105,000 | $35,000 | $0 | 0.00% |
Approval Rates
Total approvals of all applications82.04%
United Financial Credit Union has a below average approval rate.
Pick Rate
Approvals leading to origination68.93%
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 |
|---|---|---|---|
| Exempt | 103 | $9,555,000 | $92,767 |
Occupancy Type Mix
| Dwelling Type | Originations | Total Value | Average Loan |
|---|---|---|---|
| Single Family (1-4 Units):Manufactured | 4 | $330,000 | $82,500 |
| Single Family (1-4 Units):Site-Built | 99 | $9,225,000 | $93,182 |
Complaints
| Bank Name | Product | Issue | 2018 CPFB Complaints | % of Total Issues |
|---|---|---|---|---|
| United Shore Financial Services, LLC | VA mortgage | Trouble during payment process | 2 | 7.7% |
| United Shore Financial Services, LLC | FHA mortgage | Trouble during payment process | 2 | 7.7% |
| United Shore Financial Services, LLC | Conventional home mortgage | Applying for a mortgage or refinancing an existing mortgage | 1 | 3.8% |
| United Shore Financial Services, LLC | FHA mortgage | Closing on a mortgage | 1 | 3.8% |
| United Shore Financial Services, LLC | Conventional home mortgage | Closing on a mortgage | 3 | 11.5% |
| United Shore Financial Services, LLC | Conventional home mortgage | Struggling to pay mortgage | 6 | 23.1% |
| United Shore Financial Services, LLC | Conventional home mortgage | Trouble during payment process | 11 | 42.3% |