United Financial Credit Union Mortgage Rates, Fees & Info

Saginaw, MI

LEI: 5493001BHN5KL2O67M10

Tax ID: 38-1777731

Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data

Jump to:

  • SimulatedRates™
  • Mortgage Calculator

    • Mortgage Data

  • Originations
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • Complaints
  • Similar Lenders
  • Loan Length
  • Loan to Value Info
  • Debt-to-Income
  • Applicant Income
  • Ethnicity Info
  • Approval & Pick Rates
  • Points and Fees
  • Origination Fees (Closing Costs)

    • 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. Their top markets by origination volume include: Saginaw, Bay City, Flint, Midland, and Detroit among others. We have data for 10 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. 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.

    Mortgage seekers: Choose your metro area here to explore the lowest fee & rate lenders.

    Mortgage professionals: We have various tools to make your lives easier. Contact us to see how we can help with your market research, analytics or advertising needs.

    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






    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

    117

    Origination Dollar Volume (All Markets)

    $13,325,000

    Awards

    UNITED FINANCIAL Credit Union 30 Year Conventional Loans bronze UNITED FINANCIAL Credit Union 30 Year Conventional Loans silver
    Show all (2) 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) 64 $6,390,000 $99,844 $2,273 5.20%
    BAY CITY, MI (FHA|USDA|VA) 15 $1,505,000 $100,333 $1,945 5.03%
    Outside of Metro Areas 14 $1,420,000 $101,429 $2,480 5.07%
    FLINT, MI (FHA|USDA|VA) 7 $1,095,000 $156,429 $2,600 4.78%
    MIDLAND, MI (FHA|USDA|VA) 7 $945,000 $135,000 $2,982 4.70%
    Detroit-Warren-Dearborn, MI (FHA|USDA|VA) 4 $830,000 $207,500 $2,633 4.94%
    Cadillac, MI (FHA|USDA|VA) 1 $385,000 $385,000 $3,069 4.50%
    LANSING-EAST LANSING, MI (FHA|USDA|VA) 3 $325,000 $108,333 $2,597 4.58%
    Mount Pleasant, MI (FHA|USDA|VA) 1 $235,000 $235,000 $2,891 6.50%
    Alpena, MI (FHA|USDA|VA) 1 $195,000 $195,000 $2,880 3.50%
    United Financial Credit Union's top markets include Saginaw, Bay City, Flint, Midland, and Detroit 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.

    FinancialEdge Community Credit Union
    Similarity Rank: 96
    Wanigas Credit Union
    Similarity Rank: 165
    Wildfire Credit Union
    Similarity Rank: 170
    HEALTH ADVANTAGE FEDERAL CREDIT UNION
    Similarity Rank: 216
    UNITED FINANCIAL Credit Union
    Similarity Rank: 230
    1st State Financial, Ltd.
    Similarity Rank: 273
    TEAM ONE CREDIT UNION
    Similarity Rank: 330
    Isabella Bank
    Similarity Rank: 460
    FINANCIAL PLUS CREDIT UNION
    Similarity Rank: 504
    Frankenmuth Credit Union
    Similarity Rank: 780

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 117 $13,325,000 $113,889 $2,356 5.07%

    For 2022, United Financial Credit Union's most frequently originated type of loan was Conventional, with 117 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 60 $8,410,000 $140,167 $2,805 4.87%
    Home Improvement 20 $1,040,000 $52,000 $1,281 5.61%
    Cash Out Refi 20 $2,540,000 $127,000 $2,491 5.09%
    Other 10 $650,000 $65,000 $1,676 6.02%
    Refi 7 $685,000 $97,857 $2,162 3.80%

    For 2022, United Financial Credit Union's most frequently cited loan purpose was Home Purchase, with 60 originations. The 2nd most popular reason was Home Improvement, with 20 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 40 $4,320,000 $108,000 $2,667 5.02%
    15 Year 30 $2,210,000 $73,667 $1,450 5.35%
    10 Year 29 $3,655,000 $126,034 $2,366 5.11%
    Other 9 $1,865,000 $207,222 $3,051 4.58%
    20 Year 4 $380,000 $95,000 $2,469 4.84%
    30+ year 3 $855,000 $285,000 $5,834 4.42%
    5 Year 2 $40,000 $20,000 $1,009 4.99%

    For 2022, United Financial Credit Union's most frequently cited loan duration was 30 Year, with 40 originations. The 2nd most popular length was 15 Year, with 30 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $1k-2k 86 $10,640,000 $123,721
    $<1k 26 $1,020,000 $39,231
    $2k-3k 5 $1,665,000 $333,000

    United Financial Credit Union's average total fees were $2,667, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 86 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    5-6% 43 $3,595,000 $83,605
    4-5% 26 $4,560,000 $175,385
    3-4% 19 $2,515,000 $132,368
    6-7% 16 $1,300,000 $81,250
    7-8% 6 $480,000 $80,000
    2.5-3% 5 $715,000 $143,000
    <2.5% 2 $160,000 $80,000

    During 2022, United Financial Credit Union's average interest rate for loans was 5.02%, while their most frequently originated rate bucket for loans was 5-6%, with 43 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 68 $3,750,000 $55,147 $1,848 5.31%
    $100k-200k 34 $4,750,000 $139,706 $2,826 4.89%
    $200k-400k 12 $3,270,000 $272,500 $3,092 4.41%
    $400k-600k 2 $850,000 $425,000 $4,863 4.25%
    $600k-1MM 1 $705,000 $705,000 $7,034 4.75%

    2022 saw United Financial Credit Union place emphasis on $100,000 or less loans with 68 originations, totaling $3,750,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 37 $3,125,000 $84,459 $2,052 5.30%
    $50k or less 35 $2,925,000 $83,571 $2,326 4.91%
    $100k-150k 19 $2,435,000 $128,158 $2,391 4.96%
    $75k-100k 14 $2,180,000 $155,714 $2,709 5.26%
    $150k-250k 9 $1,945,000 $216,111 $2,924 4.93%
    $250k+ 3 $715,000 $238,333 $2,870 4.33%

    United Financial Credit Union lent most frequently to those with incomes in the $50k-75k range, with 37 originations. The second most popular income band? $50k or less, with 35 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 32 $3,450,000 $107,813 $2,567 4.90%
    30-36% 26 $4,060,000 $156,154 $2,695 5.24%
    <20% 18 $1,570,000 $87,222 $2,180 4.69%
    43% 6 $1,000,000 $166,667 $2,463 4.73%
    44% 5 $615,000 $123,000 $1,910 6.25%
    45% 4 $390,000 $97,500 $2,188 4.97%
    39% 4 $360,000 $90,000 $1,808 6.34%
    40% 4 $210,000 $52,500 $2,127 6.12%
    >60% 3 $635,000 $211,667 $2,681 3.17%
    36% 3 $315,000 $105,000 $2,328 4.75%
    37% 3 $215,000 $71,667 $1,533 5.75%
    38% 3 $115,000 $38,333 $1,076 5.66%
    42% 2 $160,000 $80,000 $1,739 4.56%
    46% 2 $70,000 $35,000 $1,868 5.25%
    47% 1 $65,000 $65,000 $2,673 3.75%
    41% 1 $95,000 $95,000 $2,610 5.00%

    United Financial Credit Union lent most frequently to those with DTI ratios of 20-30%, with 32 originations. The next most common DTI ratio? 30-36%, with 26 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 82 $9,270,000 $113,049 $2,306 5.02%
    Not provided 34 $4,040,000 $118,824 $2,508 5.17%
    Black 1 $15,000 $15,000 $1,255 5.63%

    Approval Rates

    Total approvals of all applications
    85.71%

    United Financial Credit Union has an average approval rate.

    Pick Rate

    Approvals leading to origination
    55.56%

    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 117 $13,325,000 $113,889

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    117 $13,325,000 $113,889

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 13 $645,000 $49,615 $1,618 5.31%
    40-60% 15 $1,345,000 $89,667 $2,101 5.17%
    60-80% 37 $5,595,000 $151,216 $2,872 4.76%
    80-100% 39 $5,395,000 $138,333 $2,727 4.94%
    Under 20% 13 $345,000 $26,538 $806 6.01%

    Complaints

    Bank Name Product Issue 2022 CPFB Complaints % of Total Issues
    United Shore Financial Services, LLC Conventional home mortgage Closing on a mortgage 1 33.3%
    United Shore Financial Services, LLC Conventional home mortgage Trouble during payment process 2 66.7%