University Federal Credit Union Mortgage Rates, Fees & Info

Austin, TX

LEI: 5493007XAKU2Q6LGXD23

Tax ID: 74-1160132

4.5 stars - out of 5 stars, based on 53 reviews

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

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Mortgage Data

  • SimulatedRates™
  • Originations
  • Relative Rates
  • Relative Fees
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • 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

    University 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.

    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 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.


    Originations

    2,784

    Origination Dollar Volume (All Markets)

    $1,055,870,000
    Show all (5) awards

    Relative Rate

    University Federal Credit Union's average 30 year fixed mortgage rate was 4.52%.

    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.

    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
    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%
    University Federal Credit Union's top markets include Austin, Houston, San Antonio, Dallas, and Killeen among others.

    Their top states include:
  • Texas (FHA|USDA|VA)

    • Similar Lenders

    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.

    ALL WESTERN MORTGAGE, INC.
    Similarity Rank: 546
    Generations Community Federal Credit Union
    Similarity Rank: 704
    AMOCO
    Similarity Rank: 810
    GULF COAST
    Similarity Rank: 852
    U S WIDE FINANCIAL LLC
    Similarity Rank: 864
    SCHLUMBERGER EMPLOYEES CREDIT UNION
    Similarity Rank: 960
    PRIMEWAY
    Similarity Rank: 1050
    WESTSTAR MORTGAGE CORPORATION
    Similarity Rank: 1353
    TEXAS BAY
    Similarity Rank: 1557
    DATCU
    Similarity Rank: 1665

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 2,700 $1,029,060,000 $381,133 $6,149 4.63%
    FHA 83 $26,455,000 $318,735 $10,860 4.36%
    USDA 1 $355,000 $355,000 $8,039 3.50%

    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.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 1,908 $873,200,000 $457,652 $7,595 4.53%
    Cash Out Refi 738 $129,550,000 $175,542 $3,097 5.03%
    Refi 129 $51,625,000 $400,194 $5,277 3.56%
    Home Improvement 9 $1,495,000 $166,111 $6,197 5.13%

    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.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 2,018 $875,980,000 $434,083 $7,714 4.52%
    20 Year 403 $57,925,000 $143,734 $2,154 5.35%
    15 Year 241 $48,625,000 $201,763 $3,773 4.18%
    10 Year 87 $14,405,000 $165,575 $1,405 4.76%
    5 Year 35 $58,935,000 $1,683,857 $884 4.83%

    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

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $1k-2k 1,455 $508,475,000 $349,467
    $5k+ 442 $280,430,000 $634,457
    $<1k 321 $25,325,000 $78,894
    $4k-5k 223 $89,465,000 $401,188
    $3k-4k 197 $58,415,000 $296,523
    $2k-3k 143 $29,645,000 $207,308

    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.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    4-5% 907 $428,975,000 $472,960
    3-4% 741 $293,425,000 $395,985
    5-6% 652 $195,420,000 $299,724
    6-7% 213 $54,615,000 $256,408
    2.5-3% 154 $58,730,000 $381,364
    7-8% 62 $9,930,000 $160,161
    <2.5% 44 $11,330,000 $257,500
    % 6 $2,990,000 $498,333
    Over 8% 5 $455,000 $91,000

    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.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 985 $296,315,000 $300,827 $6,232 4.55%
    $400k-600k 619 $302,015,000 $487,908 $7,966 4.51%
    $100k-200k 449 $65,235,000 $145,290 $3,343 4.72%
    $100,000 or less 356 $22,080,000 $62,022 $1,219 5.27%
    $600k-1MM 314 $224,780,000 $715,860 $10,497 4.30%
    $1MM+ 61 $145,445,000 $2,384,344 $20,575 4.21%

    2022 saw University Federal Credit Union place emphasis on $200k-400k loans with 985 originations, totaling $296,315,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $150k-250k 793 $311,295,000 $392,554 $6,485 4.69%
    $100k-150k 751 $235,565,000 $313,668 $5,837 4.72%
    $250k+ 480 $272,390,000 $567,479 $8,903 4.67%
    $75k-100k 345 $88,235,000 $255,754 $5,224 4.57%
    $50k-75k 279 $54,735,000 $196,183 $4,831 4.43%
    $50k or less 78 $10,960,000 $140,513 $3,916 3.98%

    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

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    30-36% 597 $222,845,000 $373,275 $6,476 4.59%
    20-30% 591 $214,855,000 $363,545 $6,262 4.55%
    42% 179 $57,585,000 $321,704 $5,372 4.96%
    <20% 162 $54,790,000 $338,210 $5,958 4.40%
    39% 131 $49,945,000 $381,260 $6,062 4.60%
    40% 129 $45,555,000 $353,140 $6,061 4.88%
    37% 124 $45,940,000 $370,484 $6,420 4.61%
    38% 116 $43,700,000 $376,724 $6,188 4.67%
    41% 104 $35,990,000 $346,058 $5,785 4.83%
    43% 104 $34,230,000 $329,135 $5,965 4.51%
    36% 102 $35,830,000 $351,275 $5,931 4.48%
    49% 96 $31,010,000 $323,021 $6,297 4.56%
    44% 92 $29,740,000 $323,261 $6,307 4.51%
    45% 62 $20,480,000 $330,323 $7,021 4.94%
    47% 60 $20,880,000 $348,000 $7,121 4.64%
    46% 51 $18,795,000 $368,529 $7,292 4.77%
    48% 51 $19,045,000 $373,431 $6,753 4.79%
    50-60% 29 $10,395,000 $358,448 $10,894 4.44%
    >60% 1 $145,000 $145,000 $4,649 3.63%

    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.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 1,798 $626,370,000 $348,370 $6,115 4.64%
    Not provided 486 $167,650,000 $344,959 $6,257 4.56%
    Asian 320 $143,910,000 $449,719 $7,510 4.62%
    Not applicable 3 $64,115,000 $21,371,667 $0 3.81%
    Black 100 $27,710,000 $277,100 $5,727 4.68%
    Asian Indian 28 $12,670,000 $452,500 $7,149 4.65%
    American Indian 29 $6,805,000 $234,655 $5,328 4.60%
    Other Asian 11 $4,195,000 $381,364 $6,531 4.78%
    Other Pacific Islander 2 $550,000 $275,000 $6,617 4.19%
    Filipino 3 $535,000 $178,333 $7,008 4.88%
    Native Hawaiian or Islander 2 $490,000 $245,000 $5,347 5.44%
    Vietnamese 1 $465,000 $465,000 $5,858 5.00%
    Korean 1 $405,000 $405,000 $5,081 6.38%

    Approval Rates

    Total approvals of all applications
    88.41%

    University Federal Credit Union has an average approval rate.

    Pick Rate

    Approvals leading to origination
    60.70%

    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
    NA 2,784 $1,055,870,000 $379,264

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    2,784 $1,055,870,000 $379,264

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 245 $48,735,000 $198,918 $3,310 4.85%
    40-60% 277 $147,175,000 $531,318 $6,330 4.21%
    60-80% 678 $284,630,000 $419,808 $7,628 4.53%
    80-100% 1,138 $535,790,000 $470,817 $8,051 4.49%
    Over 100% 4 $1,080,000 $270,000 $5,364 4.38%
    Under 20% 442 $38,460,000 $87,014 $1,338 5.25%