University Federal Credit Union Mortgage Rates, Fees & InfoAustin, TX
Tax ID: 74-1160132
Latest/2022 | 2021 Data | 2020 Data | 2019 Data | 2018 Data
Review & OverviewUniversity Federal Credit Union is a small credit union specializing in loans. University Federal Credit Union has a high proportion of conventional loans. They have a a low proportion of FHA loans. (This may mean they shy away from first time homebuyers.) They have a low ratio of USDA loans. Their top markets by origination volume include: Austin, Houston, San Antonio, Dallas, and Killeen among others. We have data for 34 markets. (Some data included below & more in-depth data is available with an active subscription.)
University Federal 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. University Federal Credit Union is typically an average 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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|Simulated Rate||Simulation Date|
|30 Year Conventional Purchase||6.31%||3/27/23|
|30 Year Conventional Refi||6.41%||3/27/23|
|30 Year Cash-out Refi||6.68%||3/27/23|
|30 Year FHA Purchase||6.94%||3/27/23|
|30 Year VA Purchase||6.27%||3/27/23|
|30 Year USDA Purchase||6.26%||3/27/23|
|15 Year Conventional Purchase||5.73%||3/27/23|
|15 Year Conventional Refi||5.93%||3/27/23|
|15 Year Cash-out Refi||5.93%||3/27/23|
|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.|
Origination Dollar Volume (All Markets)$1,055,870,000
University Federal Credit Union's average 30 year fixed mortgage rate was
The 2022 average 30 year fixed rate mortgage across all markets and lenders was 4.76%.
This yields a difference of -0.24%.
Relative Fees (Closing Costs)
University Federal Credit Union's average total fees/closing costs for a 30 year fixed rate
mortgage were $7,714.
The average total origination fees for 30 year fixed rate mortgages across all lenders (for all loan values, including both points & up-front fees in addition to origination fees) were $4,750.
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|
|AUSTIN-ROUND ROCK-GEORGETOWN, TX (FHA|USDA|VA)||2,191||$855,215,000||$390,331||$6,251||4.61%|
|HOUSTON-THE WOODLANDS-SUGAR LAND, TX (FHA|USDA|VA)||199||$76,025,000||$382,035||$6,520||4.61%|
|SAN ANTONIO-NEW BRAUNFELS, TX (FHA|USDA|VA)||115||$37,195,000||$323,435||$6,446||4.73%|
|Dallas-Fort Worth-Arlington, TX (FHA|USDA|VA)||89||$32,155,000||$361,292||$6,452||4.59%|
|Outside of Metro Areas||55||$16,505,000||$300,091||$6,146||4.61%|
|KILLEEN-TEMPLE, TX (FHA|USDA|VA)||54||$13,710,000||$253,889||$6,347||4.76%|
|AMARILLO, TX (FHA|USDA|VA)||6||$4,430,000||$738,333||$12,151||4.69%|
|CORPUS CHRISTI, TX (FHA|USDA|VA)||12||$3,640,000||$303,333||$6,306||4.86%|
|COLLEGE STATION-BRYAN, TX (FHA|USDA|VA)||7||$1,905,000||$272,143||$6,301||4.29%|
|BROWNSVILLE-HARLINGEN, TX (FHA|USDA|VA)||5||$1,895,000||$379,000||$8,466||5.08%|
|Fredericksburg, TX (FHA|USDA|VA)||3||$1,495,000||$498,333||$7,480||4.46%|
|WACO, TX (FHA|USDA|VA)||5||$1,495,000||$299,000||$6,978||4.71%|
|MCALLEN-EDINBURG-MISSION, TX (FHA|USDA|VA)||4||$1,240,000||$310,000||$6,180||5.97%|
|Athens, TX (FHA|USDA|VA)||3||$1,105,000||$368,333||$8,170||3.93%|
|EL PASO, TX (FHA|USDA|VA)||5||$1,085,000||$217,000||$5,215||4.98%|
|SHERMAN-DENISON, TX (FHA|USDA|VA)||2||$670,000||$335,000||$6,811||5.56%|
|Huntsville, TX (FHA|USDA|VA)||2||$660,000||$330,000||$6,853||4.06%|
|Brownwood, TX (FHA|USDA|VA)||3||$605,000||$201,667||$5,753||3.88%|
|ABILENE, TX (FHA|USDA|VA)||2||$580,000||$290,000||$6,009||3.38%|
|Granbury, TX (FHA|USDA|VA)||1||$555,000||$555,000||$3,877||4.94%|
|Rockport, TX (FHA|USDA|VA)||3||$515,000||$171,667||$4,224||5.71%|
|LAREDO, TX (FHA|USDA|VA)||2||$410,000||$205,000||$4,659||3.75%|
|Brenham, TX (FHA|USDA|VA)||1||$385,000||$385,000||$4,860||4.75%|
|VICTORIA, TX (FHA|USDA|VA)||1||$335,000||$335,000||$3,918||4.25%|
|Kerrville, TX (FHA|USDA|VA)||1||$315,000||$315,000||$7,485||3.50%|
|Port Lavaca, TX (FHA|USDA|VA)||1||$315,000||$315,000||$12,902||7.63%|
|LUBBOCK, TX (FHA|USDA|VA)||3||$275,000||$91,667||$3,420||5.17%|
|Bay City, TX (FHA|USDA|VA)||1||$255,000||$255,000||$6,993||4.75%|
|Nacogdoches, TX (FHA|USDA|VA)||1||$245,000||$245,000||$5,413||2.75%|
|SAN ANGELO, TX (FHA|USDA|VA)||2||$190,000||$95,000||$3,259||5.75%|
|LONGVIEW, TX (FHA|USDA|VA)||1||$175,000||$175,000||$6,638||5.00%|
|BEAUMONT-PORT ARTHUR, TX (FHA|USDA|VA)||2||$150,000||$75,000||$2,899||4.94%|
|Palestine, TX (FHA|USDA|VA)||1||$85,000||$85,000||$1,399||6.13%|
|TYLER, TX (FHA|USDA|VA)||1||$55,000||$55,000||$1,100||4.25%|
We use machine learning to identify the top lenders compared against UNIVERSITY Federal 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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|Loan Type||Originations||Total Value||Avg. Loan||Avg. Fees||Avg. Rate|
For 2022, University Federal Credit Union's most frequently originated type of loan was Conventional, with 2,700 originations. Their 2nd most popular type was FHA, with 83 originations.
For 2022, University Federal Credit Union's most frequently cited loan purpose was Home Purchase, with 1,908 originations. The 2nd most popular reason was Cash Out Refi, with 738 originations.
For 2022, University Federal Credit Union's most frequently cited loan duration was 30 Year, with 2,018 originations. The 2nd most popular length was 20 Year, with 403 originations.
Origination Fees/Closing Costs
University Federal Credit Union's average total fees were $7,714, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 1,455 originations.
During 2022, University Federal Credit Union's average interest rate for loans was 4.52%, while their most frequently originated rate bucket for loans was 4-5%, with 907 originations.
2022 saw University Federal Credit Union place emphasis on $200k-400k loans with 985 originations, totaling $296,315,000 in origination value.
University Federal Credit Union lent most frequently to those with incomes in the $150k-250k range, with 793 originations. The second most popular income band? $100k-150k, with 751 originations.
Applicant Debt to Income Ratio
University Federal Credit Union lent most frequently to those with DTI ratios of 30-36%, with 597 originations. The next most common DTI ratio? 20-30%, with 591 originations.
Approval RatesTotal approvals of all applications
University Federal Credit Union has an average approval rate.
Pick RateApprovals leading to origination
University Federal 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|
Occupancy Type Mix
|Dwelling Type||Originations||Total Value||Average Loan|