University Federal Credit Union Mortgage Rates, Fees & Info

Austin, TX

LEI: 5493007XAKU2Q6LGXD23

Tax ID: 74-1160132

5 stars - Updated: 12/4/24 - out of 5 stars, based on 38 reviews

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

Jump to:

Mortgage Data

Review & Overview

University Federal Credit Union is a smaller credit union specializing in Home Purchase loans. University Federal Credit Union has a high proportion of conventional loans. They have an average proportion of FHA loans. They have a low ratio of USDA loans. Their top markets by origination volume include: Austin, Houston, Dallas, San Antonio, and Killeen among others. We have data for 31 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 a high 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 relatively high 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% 12/4/24
30 Year Conventional Refi 6.41% 12/4/24
30 Year Cash-out Refi 6.68% 12/4/24
30 Year FHA Purchase 6.94% 12/4/24
30 Year VA Purchase 6.27% 12/4/24
30 Year USDA Purchase 6.26% 12/4/24
15 Year Conventional Purchase 5.73% 12/4/24
15 Year Conventional Refi 5.93% 12/4/24
15 Year Cash-out Refi 5.93% 12/4/24
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.

University Federal Credit Union Mortgage Calculator






Your Estimates

Estimated Loan Payment: Update the calculator values and click calculate payment!

This is not an official calculator from University Federal 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

1,463

Origination Dollar Volume (All Markets)

$530,735,000
Show all (6) awards

Relative Rate

University Federal Credit Union's average 30 year fixed mortgage rate was 6.33%.

The 2023 average 30 year fixed rate mortgage across all markets and lenders was 6.48%.

This yields a difference of -0.15%.

Relative Fees (Closing Costs)

University Federal Credit Union's average total fees/closing costs for a 30 year fixed rate mortgage were $9,249.

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 $9,089.

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) 1,126 $390,770,000 $347,043 $6,899 6.66%
HOUSTON-THE WOODLANDS-SUGAR LAND, TX (FHA|USDA|VA) 133 $78,555,000 $590,639 $6,949 6.89%
Dallas-Fort Worth-Arlington, TX (FHA|USDA|VA) 45 $19,385,000 $430,778 $9,252 6.56%
SAN ANTONIO-NEW BRAUNFELS, TX (FHA|USDA|VA) 50 $14,180,000 $283,600 $7,381 6.58%
KILLEEN-TEMPLE, TX (FHA|USDA|VA) 29 $7,585,000 $261,552 $7,185 6.61%
Outside of Metro Areas 25 $6,805,000 $272,200 $7,266 6.93%
CORPUS CHRISTI, TX (FHA|USDA|VA) 11 $3,065,000 $278,636 $6,193 7.05%
COLLEGE STATION-BRYAN, TX (FHA|USDA|VA) 7 $1,845,000 $263,571 $8,430 6.71%
MCALLEN-EDINBURG-MISSION, TX (FHA|USDA|VA) 5 $1,305,000 $261,000 $5,391 7.03%
Rockport, TX (FHA|USDA|VA) 3 $1,305,000 $435,000 $11,243 7.08%
BROWNSVILLE-HARLINGEN, TX (FHA|USDA|VA) 3 $885,000 $295,000 $5,777 6.67%
EL PASO, TX (FHA|USDA|VA) 3 $725,000 $241,667 $7,525 7.04%
VICTORIA, TX (FHA|USDA|VA) 2 $450,000 $225,000 $6,682 7.19%
WACO, TX (FHA|USDA|VA) 2 $410,000 $205,000 $6,876 7.19%
ABILENE, TX (FHA|USDA|VA) 1 $365,000 $365,000 $8,541 5.50%
Fredericksburg, TX (FHA|USDA|VA) 2 $350,000 $175,000 $3,627 7.44%
TYLER, TX (FHA|USDA|VA) 2 $300,000 $150,000 $4,545 7.44%
Brenham, TX (FHA|USDA|VA) 1 $275,000 $275,000 $8,684 7.38%
ODESSA, TX (FHA|USDA|VA) 1 $255,000 $255,000 $7,178 7.75%
LAREDO, TX (FHA|USDA|VA) 1 $245,000 $245,000 $7,387 6.00%
SHERMAN-DENISON, TX (FHA|USDA|VA) 1 $225,000 $225,000 $7,617 6.13%
LUBBOCK, TX (FHA|USDA|VA) 1 $215,000 $215,000 $6,152 7.00%
Nacogdoches, TX (FHA|USDA|VA) 1 $205,000 $205,000 $7,444 6.63%
LONGVIEW, TX (FHA|USDA|VA) 1 $195,000 $195,000 $6,396 7.00%
SAN ANGELO, TX (FHA|USDA|VA) 1 $165,000 $165,000 $5,269 7.25%
AMARILLO, TX (FHA|USDA|VA) 1 $155,000 $155,000 $5,088 6.75%
Lufkin, TX (FHA|USDA|VA) 1 $125,000 $125,000 $5,352 6.88%
Eagle Pass, TX (FHA|USDA|VA) 1 $115,000 $115,000 $5,629 7.38%
Bay City, TX (FHA|USDA|VA) 1 $105,000 $105,000 $433 7.75%
Andrews, TX (FHA|USDA|VA) 1 $95,000 $95,000 $6,180 6.88%
WICHITA FALLS, TX (FHA|USDA|VA) 1 $75,000 $75,000 $388 7.13%
University Federal Credit Union's top markets include Austin, Houston, Dallas, San Antonio, 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.

    GULF COAST
    Similarity Rank: 86
    HOMEAMERICAN MORTGAGE CORPORATION
    Similarity Rank: 220
    AMOCO
    Similarity Rank: 258
    GIBRALTAR MORTGAGE SERVICES, LLC
    Similarity Rank: 360
    SOUTHERN LENDING SERVICES, LTD.
    Similarity Rank: 432
    COMMUNITY RESOURCE CREDIT UNION
    Similarity Rank: 714
    NAVY ARMY COMMUNITY CREDIT UNION
    Similarity Rank: 759
    DATCU
    Similarity Rank: 981

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 1,345 $488,925,000 $363,513 $6,414 6.75%
    FHA 105 $37,265,000 $354,905 $14,066 6.11%
    VA 11 $4,145,000 $376,818 $9,716 6.05%
    USDA 2 $400,000 $200,000 $7,279 5.94%

    For 2023, University Federal Credit Union's most frequently originated type of loan was Conventional, with 1,345 originations. Their 2nd most popular type was FHA, with 105 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 1,013 $471,155,000 $465,109 $9,061 6.29%
    Cash Out Refi 418 $48,860,000 $116,890 $1,947 7.64%
    Refi 30 $10,500,000 $350,000 $7,617 6.90%
    Home Improvement 2 $220,000 $110,000 $4,774 8.00%

    For 2023, University Federal Credit Union's most frequently cited loan purpose was Home Purchase, with 1,013 originations. The 2nd most popular reason was Cash Out Refi, with 418 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 1,019 $396,375,000 $388,984 $9,249 6.33%
    20 Year 195 $21,455,000 $110,026 $1,351 7.95%
    15 Year 119 $19,365,000 $162,731 $3,597 7.36%
    10 Year 96 $6,230,000 $64,896 $773 7.24%
    5 Year 33 $50,585,000 $1,532,879 $684 6.58%
    3 Year 1 $36,725,000 $36,725,000 $0 7.29%

    For 2023, University Federal Credit Union's most frequently cited loan duration was 30 Year, with 1,019 originations. The 2nd most popular length was 20 Year, with 195 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $5k+ 357 $184,145,000 $515,812
    $1k-2k 350 $118,570,000 $338,771
    $<1k 295 $23,095,000 $78,288
    $3k-4k 191 $45,775,000 $239,660
    $4k-5k 179 $58,705,000 $327,961
    $2k-3k 89 $14,715,000 $165,337

    University Federal Credit Union's average total fees were $9,249, while their most frequently occuring range of origination fees (closing costs) were in the $5k+ bucket, with 357 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    6-7% 635 $263,945,000 $415,661
    5-6% 296 $113,580,000 $383,716
    7-8% 296 $109,670,000 $370,507
    Over 8% 164 $23,840,000 $145,366
    4-5% 49 $15,055,000 $307,245
    3-4% 19 $3,755,000 $197,632
    2.5-3% 3 $535,000 $178,333
    % 1 $355,000 $355,000

    During 2023, University Federal Credit Union's average interest rate for loans was 6.33%, while their most frequently originated rate bucket for loans was 6-7%, with 635 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 584 $172,580,000 $295,514 $8,012 6.38%
    $100,000 or less 283 $16,105,000 $56,908 $976 7.57%
    $400k-600k 238 $113,990,000 $478,950 $10,701 6.43%
    $100k-200k 229 $33,795,000 $147,576 $3,837 6.84%
    $600k-1MM 100 $70,310,000 $703,100 $12,813 6.38%
    $1MM+ 29 $123,955,000 $4,274,310 $20,392 6.63%

    2023 saw University Federal Credit Union place emphasis on $200k-400k loans with 584 originations, totaling $172,580,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $150k-250k 400 $132,860,000 $332,150 $7,313 6.84%
    $100k-150k 380 $101,120,000 $266,105 $6,687 6.74%
    $250k+ 254 $130,060,000 $512,047 $9,376 6.85%
    $50k-75k 193 $31,675,000 $164,119 $5,174 6.39%
    $75k-100k 178 $39,140,000 $219,888 $6,210 6.63%
    $50k or less 31 $4,375,000 $141,129 $5,076 5.38%

    University Federal Credit Union lent most frequently to those with incomes in the $150k-250k range, with 400 originations. The second most popular income band? $100k-150k, with 380 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 250 $75,260,000 $301,040 $6,553 6.70%
    30-36% 233 $70,285,000 $301,652 $6,657 6.54%
    42% 112 $30,250,000 $270,089 $5,424 7.10%
    41% 92 $25,710,000 $279,457 $6,156 6.83%
    40% 79 $21,965,000 $278,038 $5,582 6.94%
    38% 70 $18,040,000 $257,714 $6,179 6.56%
    <20% 65 $19,015,000 $292,538 $6,537 6.89%
    37% 65 $20,195,000 $310,692 $6,458 6.69%
    39% 64 $16,100,000 $251,563 $6,058 6.76%
    43% 63 $21,645,000 $343,571 $7,789 6.74%
    44% 58 $20,160,000 $347,586 $7,889 6.82%
    49% 58 $20,540,000 $354,138 $9,294 6.61%
    45% 49 $18,455,000 $376,633 $8,382 6.64%
    36% 48 $12,230,000 $254,792 $6,599 6.25%
    47% 47 $17,645,000 $375,426 $8,927 6.69%
    46% 39 $12,275,000 $314,744 $7,461 6.71%
    48% 35 $12,635,000 $361,000 $9,545 6.37%
    50-60% 33 $12,015,000 $364,091 $14,186 5.99%
    >60% 1 $585,000 $585,000 $16,107 6.75%

    University Federal Credit Union lent most frequently to those with DTI ratios of 20-30%, with 250 originations. The next most common DTI ratio? 30-36%, with 233 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 992 $294,150,000 $296,522 $6,839 6.72%
    Not applicable 2 $85,730,000 $42,865,000 $0 6.77%
    Not provided 243 $66,885,000 $275,247 $6,587 6.81%
    Asian 122 $49,570,000 $406,311 $8,363 6.38%
    Black 60 $16,340,000 $272,333 $7,143 6.62%
    Asian Indian 20 $12,060,000 $603,000 $10,574 6.54%
    American Indian 17 $3,595,000 $211,471 $6,643 6.20%
    Other Asian 4 $1,590,000 $397,500 $10,602 6.75%
    Other Pacific Islander 2 $410,000 $205,000 $3,024 6.63%
    Native Hawaiian or Islander 1 $405,000 $405,000 $5,768 7.25%

    Approval Rates

    Total approvals of all applications
    86.88%

    University Federal Credit Union has an average approval rate.

    Pick Rate

    Approvals leading to origination
    37.87%

    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 1,463 $530,735,000 $362,772

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    1,463 $530,735,000 $362,772

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 143 $22,865,000 $159,895 $2,718 7.49%
    40-60% 105 $115,895,000 $1,103,762 $7,476 6.57%
    60-80% 332 $129,940,000 $391,386 $8,712 6.54%
    80-100% 589 $240,565,000 $408,430 $9,909 6.18%
    Over 100% 5 $1,355,000 $271,000 $11,231 6.43%
    Under 20% 289 $20,115,000 $69,602 $931 7.57%