University Federal Credit Union Mortgage Rates, Fees & Info

Austin, TX

LEI: 5493007XAKU2Q6LGXD23

Tax ID: 74-1160132

4.2 stars - out of 5 stars, based on 66 reviews

2021 Data | 2020 Data | 2019 Data | 2018 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

4,384

Origination Dollar Volume (All Markets)

$1,382,220,000
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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 applications
92.60%

University Federal Credit Union has an average approval rate.

Pick Rate

Approvals leading to origination
71.04%

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%