University Federal Credit Union Mortgage Rates, Fees & Info
Austin, TXLEI: 5493007XAKU2Q6LGXD23
Tax ID: 74-1160132
2021 Data | 2020 Data | 2019 Data | 2018 Data
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Mortgage Data
Overview
University Federal Credit Union is a small credit union specializing in Home Purchase 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 include Austin, Houston, San Antonio, Dallas, and Killeen among others. University Federal Credit Union has an above average approval rate for mortages when compared nationally. They have a below average pick rate when compared to the same sample of other lendors. University Federal Credit Union is typically a high fee lendor.Originations
4,384Origination Dollar Volume (All Markets)
$1,382,220,000Awards
UNIVERSITY Federal Credit Union - 2021
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For 2021, less than of lenders were eligible for this award.
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Relative Rate
University Federal Credit Union's average 30 year fixed rate mortgage of loans were
2.98%.
The 2021 average 30 year fixed rate mortgage across all markets of loans were 3.15%.
This yields a difference of -0.17%.
Relative Fees
University Federal Credit Union's average total fees for a 30 year fixed rate
mortgage are $6,024.
The average total origination fees for 30 year fixed rate mortgages (for all loan values, including
both points & up-front fees in addition to origination fees) are $4,750.
Top Markets
| Market | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| AUSTIN-ROUND ROCK-GEORGETOWN, TX (FHA|USDA|VA) | 3,560 | $1,140,280,000 | $320,303 | $5,099 | 2.98% |
| HOUSTON-THE WOODLANDS-SUGAR LAND, TX (FHA|USDA|VA) | 312 | $96,290,000 | $308,622 | $5,239 | 2.93% |
| SAN ANTONIO-NEW BRAUNFELS, TX (FHA|USDA|VA) | 144 | $41,720,000 | $289,722 | $5,258 | 2.99% |
| Dallas-Fort Worth-Arlington, TX (FHA|USDA|VA) | 110 | $40,120,000 | $364,727 | $5,975 | 2.99% |
| Outside of Metro Areas | 71 | $20,315,000 | $286,127 | $5,480 | 2.87% |
| KILLEEN-TEMPLE, TX (FHA|USDA|VA) | 92 | $18,520,000 | $201,304 | $4,614 | 3.06% |
| EL PASO, TX (FHA|USDA|VA) | 10 | $4,840,000 | $484,000 | $8,649 | 2.73% |
| CORPUS CHRISTI, TX (FHA|USDA|VA) | 15 | $4,285,000 | $285,667 | $5,576 | 3.06% |
| COLLEGE STATION-BRYAN, TX (FHA|USDA|VA) | 12 | $3,390,000 | $282,500 | $5,089 | 2.97% |
| MCALLEN-EDINBURG-MISSION, TX (FHA|USDA|VA) | 10 | $3,070,000 | $307,000 | $6,321 | 2.95% |
| Fredericksburg, TX (FHA|USDA|VA) | 5 | $1,955,000 | $391,000 | $6,097 | 3.10% |
| WACO, TX (FHA|USDA|VA) | 8 | $1,600,000 | $200,000 | $3,720 | 2.92% |
| BROWNSVILLE-HARLINGEN, TX (FHA|USDA|VA) | 6 | $770,000 | $128,333 | $3,734 | 2.90% |
| LONGVIEW, TX (FHA|USDA|VA) | 3 | $695,000 | $231,667 | $5,795 | 3.50% |
| LUBBOCK, TX (FHA|USDA|VA) | 5 | $615,000 | $123,000 | $3,957 | 3.28% |
| Kerrville, TX (FHA|USDA|VA) | 2 | $580,000 | $290,000 | $4,549 | 2.69% |
| SAN ANGELO, TX (FHA|USDA|VA) | 2 | $500,000 | $250,000 | $7,542 | 2.88% |
| BEAUMONT-PORT ARTHUR, TX (FHA|USDA|VA) | 2 | $410,000 | $205,000 | $4,716 | 3.38% |
| VICTORIA, TX (FHA|USDA|VA) | 2 | $350,000 | $175,000 | $3,821 | 3.31% |
| Bay City, TX (FHA|USDA|VA) | 2 | $300,000 | $150,000 | $5,026 | 2.63% |
| ABILENE, TX (FHA|USDA|VA) | 3 | $275,000 | $91,667 | $3,583 | 3.50% |
| Jacksonville, TX (FHA|USDA|VA) | 1 | $265,000 | $265,000 | $11,398 | 2.25% |
| AMARILLO, TX (FHA|USDA|VA) | 1 | $245,000 | $245,000 | $3,778 | 2.88% |
| El Campo, TX (FHA|USDA|VA) | 1 | $195,000 | $195,000 | $6,054 | 3.00% |
| WICHITA FALLS, TX (FHA|USDA|VA) | 1 | $185,000 | $185,000 | $5,599 | 2.75% |
| Brenham, TX (FHA|USDA|VA) | 1 | $165,000 | $165,000 | $3,894 | 3.25% |
| TYLER, TX (FHA|USDA|VA) | 1 | $145,000 | $145,000 | $3,517 | 2.50% |
| Rockport, TX (FHA|USDA|VA) | 1 | $85,000 | $85,000 | $3,764 | 2.63% |
| Lufkin, TX (FHA|USDA|VA) | 1 | $55,000 | $55,000 | $2,954 | 2.88% |
University Federal Credit Union's top markets include Austin, Houston, San Antonio, Dallas, and Killeen among others.
Product Mix
| Loan Type | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Conventional | 4,247 | $1,344,185,000 | $316,502 | $5,011 | 2.99% |
| FHA | 126 | $35,070,000 | $278,333 | $9,314 | 2.71% |
| USDA | 11 | $2,965,000 | $269,545 | $7,226 | 2.45% |
For the 2021 period, University Federal Credit Union's most frequently originated loan type of loans were Conventional, with 4,247 originations. Their 2nd most popular type is FHA, with 126 originations.
Loan Reason
| Loan Reason | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Home Purchase | 2,840 | $1,022,050,000 | $359,877 | $5,763 | 2.96% |
| Cash Out Refi | 850 | $176,170,000 | $207,259 | $3,689 | 3.19% |
| Refi | 683 | $182,415,000 | $267,079 | $4,363 | 2.76% |
| Home Improvement | 11 | $1,585,000 | $144,091 | $4,698 | 4.16% |
For the 2021, University Federal Credit Union's most frequently cited loan purpose of loans were Home Purchase, with 2,840 originations. The 2nd most popular reason of loans were Cash Out Refi, with 850 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| 30 Year | 3,117 | $1,163,885,000 | $373,399 | $6,024 | 2.98% |
| 15 Year | 578 | $128,510,000 | $222,336 | $3,988 | 2.56% |
| 20 Year | 550 | $76,320,000 | $138,764 | $2,183 | 3.46% |
| 10 Year | 108 | $11,560,000 | $107,037 | $1,987 | 2.85% |
| 5 Year | 30 | $1,710,000 | $57,000 | $1,070 | 2.89% |
| Other | 1 | $235,000 | $235,000 | $2,950 | 2.88% |
For the 2021, University Federal Credit Union's most frequently cited loan length of loans were 30 Year, with 3,117 originations. The 2nd most popular length of loans were 15 Year, with 578 originations.
Origination Fees
| Origination Fee | Originations | Total Value | Average Loan |
|---|---|---|---|
| $1k-2k | 3,237 | $1,013,705,000 | $313,162 |
| $<1k | 330 | $27,260,000 | $82,606 |
| $3k-4k | 315 | $100,925,000 | $320,397 |
| $5k+ | 277 | $191,595,000 | $691,679 |
| $2k-3k | 225 | $48,735,000 | $216,600 |
$6,024 of loans were University Federal Credit Union's average total fees, while their most frequently occuring range of origination fees were in the $1k-2k bucket, with 3,237 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 2.5-3% | 2,153 | $775,585,000 | $360,235 |
| 3-4% | 1,425 | $404,815,000 | $284,081 |
| <2.5% | 707 | $189,845,000 | $268,522 |
| 4-5% | 65 | $8,935,000 | $137,462 |
| 5-6% | 34 | $3,040,000 | $89,412 |
During 2021, University Federal Credit Union's average interest rate of loans were 2.98%, while their most frequently originated rate bucket of loans were 2.5-3%, with 2,153 originations.
Loan Sizing
| Loan Size | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| $200k-400k | 1,892 | $551,260,000 | $291,364 | $5,163 | 2.92% |
| $100k-200k | 894 | $137,150,000 | $153,412 | $3,371 | 2.98% |
| $400k-600k | 894 | $431,440,000 | $482,595 | $6,424 | 2.90% |
| $100,000 or less | 431 | $27,885,000 | $64,698 | $1,399 | 3.42% |
| $600k-1MM | 209 | $154,185,000 | $737,727 | $10,939 | 2.99% |
| $1MM+ | 64 | $80,300,000 | $1,254,688 | $17,489 | 2.96% |
2021 saw University Federal Credit Union place emphasis on $200k-400k loans with 1,892 originations, totaling $551,260,000 in origination value.
Applicant Income
| Applicant Income | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| $150k-250k | 1,169 | $403,005,000 | $344,743 | $5,248 | 3.05% |
| $100k-150k | 1,159 | $354,515,000 | $305,880 | $4,898 | 2.96% |
| $250k+ | 649 | $301,195,000 | $464,091 | $6,880 | 3.11% |
| $75k-100k | 641 | $164,675,000 | $256,903 | $4,738 | 2.92% |
| $50k-75k | 517 | $111,605,000 | $215,870 | $4,376 | 2.93% |
| $50k or less | 161 | $24,645,000 | $153,075 | $4,043 | 2.79% |
University Federal Credit Union lent most frequently to those with incomes in the $150k-250k range, with 1,169 originations. The second most popular income band? $100k-150k, with 1,159 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| 20-30% | 1,170 | $370,540,000 | $316,701 | $5,055 | 2.94% |
| 30-36% | 901 | $293,925,000 | $326,221 | $5,136 | 2.97% |
| <20% | 403 | $125,785,000 | $312,122 | $4,968 | 2.90% |
| 42% | 188 | $55,620,000 | $295,851 | $4,909 | 3.05% |
| 38% | 186 | $60,440,000 | $324,946 | $5,405 | 2.99% |
| 40% | 161 | $50,285,000 | $312,329 | $5,099 | 3.08% |
| 37% | 160 | $53,180,000 | $332,375 | $5,380 | 3.08% |
| 41% | 160 | $49,820,000 | $311,375 | $5,491 | 3.09% |
| 36% | 153 | $47,445,000 | $310,098 | $5,085 | 2.97% |
| 39% | 150 | $49,230,000 | $328,200 | $5,237 | 3.03% |
| 43% | 139 | $40,995,000 | $294,928 | $5,009 | 3.11% |
| 44% | 132 | $40,120,000 | $303,939 | $5,068 | 3.09% |
| 49% | 116 | $33,520,000 | $288,966 | $5,138 | 2.99% |
| 46% | 102 | $30,390,000 | $297,941 | $5,243 | 2.97% |
| 45% | 92 | $31,430,000 | $341,630 | $5,715 | 2.90% |
| 47% | 79 | $23,485,000 | $297,278 | $5,112 | 2.91% |
| 48% | 72 | $20,790,000 | $288,750 | $4,919 | 2.98% |
| 50-60% | 18 | $4,610,000 | $256,111 | $8,504 | 2.75% |
| >60% | 2 | $610,000 | $305,000 | $2,523 | 3.31% |
University Federal Credit Union lent most frequently to those with DTI ratios of 20-30%, with 1,170 originations. The next most common DTI ratio? 30-36%, with 901 originations.
Ethnicity Mix
| Applicant Ethnicity | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| White | 2,766 | $866,920,000 | $313,420 | $5,060 | 2.98% |
| Not provided | 861 | $264,105,000 | $306,742 | $5,142 | 2.98% |
| Asian | 445 | $153,845,000 | $345,719 | $5,460 | 2.96% |
| Black | 161 | $46,585,000 | $289,348 | $5,399 | 2.98% |
| Asian Indian | 75 | $30,165,000 | $402,200 | $6,074 | 3.02% |
| American Indian | 45 | $11,485,000 | $255,222 | $4,418 | 3.04% |
| Other Asian | 23 | $7,495,000 | $325,870 | $5,744 | 3.31% |
| Native Hawaiian | 5 | $805,000 | $161,000 | $3,058 | 3.35% |
| Japanese | 2 | $690,000 | $345,000 | $4,118 | 3.00% |
| Other Pacific Islander | 1 | $125,000 | $125,000 | $1,867 | 3.13% |
Approval Rates
Total approvals of all applications92.60%
University Federal Credit Union has an average approval rate.
Pick Rate
Approvals leading to origination71.04%
University Federal Credit Union has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 4,384 | $1,382,220,000 | $315,287 |
Occupancy Type Mix
| Dwelling Type | Originations | Total Value | Average Loan |
|---|---|---|---|
| 4,384 | $1,382,220,000 | $315,287 |
LTV Distribution
| Loan to Value | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| 20-40% | 345 | $59,525,000 | $172,536 | $3,290 | 2.98% |
| 40-60% | 562 | $157,520,000 | $280,285 | $4,747 | 2.79% |
| 60-80% | 1,547 | $565,875,000 | $365,789 | $5,859 | 2.99% |
| 80-100% | 1,420 | $554,190,000 | $390,275 | $6,280 | 2.88% |
| Over 100% | 1 | $275,000 | $275,000 | $6,565 | 2.25% |
| Under 20% | 509 | $44,835,000 | $88,084 | $1,458 | 3.46% |
Complaints
| Bank Name | Product | Issue | 2021 CPFB Complaints | % of Total Issues |
|---|---|---|---|---|
| UNIVERSAL LENDING CORP. | Conventional home mortgage | Struggling to pay mortgage | 1 | 100.0% |
