University Federal Credit Union Mortgage Rates, Fees & Info

Austin, TX

LEI: 5493007XAKU2Q6LGXD23

Tax ID: 74-1160132

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

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  • SimulatedRates™
  • Mortgage Calculator

    • Mortgage Data

  • Originations
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • Complaints
  • 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 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 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 above 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% 12/23/24
    30 Year Conventional Refi 6.41% 12/23/24
    30 Year Cash-out Refi 6.68% 12/23/24
    30 Year FHA Purchase 6.94% 12/23/24
    30 Year VA Purchase 6.27% 12/23/24
    30 Year USDA Purchase 6.26% 12/23/24
    15 Year Conventional Purchase 5.73% 12/23/24
    15 Year Conventional Refi 5.93% 12/23/24
    15 Year Cash-out Refi 5.93% 12/23/24
    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

    4,058

    Origination Dollar Volume (All Markets)

    $1,177,560,000
    Show all (11) awards

    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) 3,409 $1,020,465,000 $299,344 $5,660 3.86%
    HOUSTON-THE WOODLANDS-SUGAR LAND, TX (FHA|USDA|VA) 288 $68,220,000 $236,875 $5,040 3.80%
    Dallas-Fort Worth-Arlington, TX (FHA|USDA|VA) 118 $37,750,000 $319,915 $6,223 3.78%
    SAN ANTONIO-NEW BRAUNFELS, TX (FHA|USDA|VA) 83 $19,645,000 $236,687 $4,653 3.95%
    Outside of Metro Areas 38 $8,720,000 $229,474 $5,249 4.02%
    KILLEEN-TEMPLE, TX (FHA|USDA|VA) 28 $4,960,000 $177,143 $4,921 3.82%
    CORPUS CHRISTI, TX (FHA|USDA|VA) 14 $2,510,000 $179,286 $4,272 3.96%
    LUBBOCK, TX (FHA|USDA|VA) 11 $2,255,000 $205,000 $4,695 3.63%
    WACO, TX (FHA|USDA|VA) 12 $2,210,000 $184,167 $4,027 3.76%
    COLLEGE STATION-BRYAN, TX (FHA|USDA|VA) 7 $1,375,000 $196,429 $4,886 4.18%
    Kerrville, TX (FHA|USDA|VA) 6 $1,350,000 $225,000 $5,368 3.85%
    AMARILLO, TX (FHA|USDA|VA) 4 $1,310,000 $327,500 $7,552 3.53%
    TYLER, TX (FHA|USDA|VA) 4 $940,000 $235,000 $4,744 3.59%
    EL PASO, TX (FHA|USDA|VA) 5 $935,000 $187,000 $5,964 3.70%
    Granbury, TX (FHA|USDA|VA) 3 $795,000 $265,000 $4,518 4.17%
    MCALLEN-EDINBURG-MISSION, TX (FHA|USDA|VA) 4 $790,000 $197,500 $3,992 3.38%
    BROWNSVILLE-HARLINGEN, TX (FHA|USDA|VA) 3 $485,000 $161,667 $4,726 4.25%
    MIDLAND, TX (FHA|USDA|VA) 2 $390,000 $195,000 $4,659 4.06%
    Athens, TX (FHA|USDA|VA) 3 $365,000 $121,667 $3,097 3.67%
    Rockport, TX (FHA|USDA|VA) 2 $330,000 $165,000 $3,734 3.44%
    Fredericksburg, TX (FHA|USDA|VA) 2 $300,000 $150,000 $3,868 3.50%
    SAN ANGELO, TX (FHA|USDA|VA) 2 $270,000 $135,000 $3,405 3.75%
    ABILENE, TX (FHA|USDA|VA) 2 $260,000 $130,000 $3,705 3.50%
    LONGVIEW, TX (FHA|USDA|VA) 1 $215,000 $215,000 $3,877 4.00%
    Raymondville, TX (FHA|USDA|VA) 1 $155,000 $155,000 $3,917 3.50%
    Jacksonville, TX (FHA|USDA|VA) 1 $135,000 $135,000 $3,848 3.13%
    Paris, TX (FHA|USDA|VA) 1 $105,000 $105,000 $4,386 3.63%
    Brenham, TX (FHA|USDA|VA) 1 $105,000 $105,000 $1,747 3.63%
    BEAUMONT-PORT ARTHUR, TX (FHA|USDA|VA) 1 $95,000 $95,000 $5,295 3.63%
    Mount Pleasant, TX (FHA|USDA|VA) 1 $65,000 $65,000 $3,101 3.38%
    Kingsville, TX (FHA|USDA|VA) 1 $55,000 $55,000 $4,169 5.00%
    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.

    MEMBERS CHOICE Credit Union
    Similarity Rank: 549
    SMART FINANCIAL CREDIT UNION
    Similarity Rank: 707
    TEXAS BAY
    Similarity Rank: 888
    AMERANT BANK, NATIONAL ASSOCIATION
    Similarity Rank: 1060
    TEXANS
    Similarity Rank: 1204
    SMART CHOICE MORTGAGE, A TEXAS LIMITED LIABILITY C
    Similarity Rank: 1215
    NEIGHBORHOOD
    Similarity Rank: 1228
    JSC
    Similarity Rank: 1296
    SOUTHERN LENDING SERVICES, LTD.
    Similarity Rank: 1340
    PIKE CREEK MORTGAGE SERVICES, INC.
    Similarity Rank: 1368

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 3,881 $1,134,315,000 $292,274 $5,441 3.86%
    FHA 176 $43,050,000 $244,602 $8,573 3.72%
    USDA 1 $195,000 $195,000 $5,729 3.13%

    For 2019, University Federal Credit Union's most frequently originated type of loan was Conventional, with 3,881 originations. Their 2nd most popular type was FHA, with 176 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 2,982 $929,010,000 $311,539 $6,047 3.83%
    Cash Out Refi 677 $94,905,000 $140,185 $2,889 4.14%
    Refi 391 $152,995,000 $391,292 $6,704 3.53%
    Home Improvement 8 $650,000 $81,250 $3,380 5.56%

    For 2019, University Federal Credit Union's most frequently cited loan purpose was Home Purchase, with 2,982 originations. The 2nd most popular reason was Cash Out Refi, with 677 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 2,848 $933,060,000 $327,619 $6,610 3.87%
    15 Year 592 $132,130,000 $223,193 $4,463 3.64%
    20 Year 446 $49,390,000 $110,740 $1,950 4.13%
    10 Year 130 $52,760,000 $405,846 $1,464 3.88%
    5 Year 40 $8,340,000 $208,500 $1,093 3.54%
    30+ year 1 $1,255,000 $1,255,000 $23,564 1.88%
    Other 1 $625,000 $625,000 $10,842 3.38%

    For 2019, University Federal Credit Union's most frequently cited loan duration was 30 Year, with 2,848 originations. The 2nd most popular length was 15 Year, with 592 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $1k-2k 2,160 $555,010,000 $256,949
    $5k+ 501 $318,235,000 $635,200
    $<1k 470 $29,530,000 $62,830
    $3k-4k 384 $91,540,000 $238,385
    $4k-5k 276 $87,250,000 $316,123
    $2k-3k 261 $46,045,000 $176,418

    University Federal Credit Union's average total fees were $6,610, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 2,160 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    3-4% 2,532 $756,490,000 $298,772
    4-5% 1,163 $298,725,000 $256,857
    2.5-3% 233 $94,545,000 $405,773
    5-6% 89 $14,745,000 $165,674
    <2.5% 22 $10,770,000 $489,545
    6-7% 16 $1,800,000 $112,500
    7-8% 2 $230,000 $115,000
    Over 8% 1 $255,000 $255,000

    During 2019, University Federal Credit Union's average interest rate for loans was 3.87%, while their most frequently originated rate bucket for loans was 3-4%, with 2,532 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 1,882 $534,720,000 $284,123 $5,798 3.80%
    $100k-200k 875 $136,905,000 $156,463 $4,036 3.97%
    $100,000 or less 583 $35,025,000 $60,077 $1,278 4.10%
    $400k-600k 514 $239,650,000 $466,245 $7,932 3.75%
    $600k-1MM 149 $111,375,000 $747,483 $14,274 3.54%
    $1MM+ 55 $119,885,000 $2,179,727 $24,633 3.35%

    2019 saw University Federal Credit Union place emphasis on $200k-400k loans with 1,882 originations, totaling $534,720,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 1,084 $284,410,000 $262,371 $5,278 3.85%
    $150k-250k 946 $292,180,000 $308,858 $5,753 3.91%
    $75k-100k 625 $141,715,000 $226,744 $4,850 3.90%
    $250k+ 575 $260,585,000 $453,191 $8,347 3.79%
    $50k-75k 569 $107,495,000 $188,919 $4,657 3.90%
    $50k or less 176 $23,650,000 $134,375 $3,872 3.95%

    University Federal Credit Union lent most frequently to those with incomes in the $100k-150k range, with 1,084 originations. The second most popular income band? $150k-250k, with 946 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 1,020 $291,170,000 $285,461 $5,545 3.79%
    30-36% 816 $233,070,000 $285,625 $5,641 3.87%
    <20% 321 $87,665,000 $273,100 $5,376 3.71%
    43% 179 $42,275,000 $236,173 $4,987 3.94%
    44% 169 $43,795,000 $259,142 $5,286 3.97%
    42% 168 $45,130,000 $268,631 $5,307 3.97%
    40% 166 $48,000,000 $289,157 $5,871 3.89%
    39% 162 $43,630,000 $269,321 $5,399 3.96%
    41% 149 $41,805,000 $280,570 $5,541 3.92%
    36% 144 $44,430,000 $308,542 $6,246 3.85%
    38% 134 $36,830,000 $274,851 $5,322 3.94%
    37% 122 $36,110,000 $295,984 $5,784 3.85%
    45% 109 $28,835,000 $264,541 $5,588 3.85%
    48% 98 $26,440,000 $269,796 $5,994 3.84%
    46% 96 $28,670,000 $298,646 $6,137 3.90%
    49% 91 $22,365,000 $245,769 $5,479 4.01%
    47% 84 $22,150,000 $263,690 $5,623 3.94%
    50-60% 24 $5,240,000 $218,333 $7,838 3.69%

    University Federal Credit Union lent most frequently to those with DTI ratios of 20-30%, with 1,020 originations. The next most common DTI ratio? 30-36%, with 816 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 2,725 $763,895,000 $280,328 $5,559 3.87%
    Not provided 797 $228,885,000 $287,183 $5,766 3.84%
    Asian 354 $97,290,000 $274,831 $5,666 3.74%
    Not applicable 6 $49,950,000 $8,325,000 $0 3.87%
    Black 134 $27,880,000 $208,060 $4,744 3.90%
    American Indian 32 $6,030,000 $188,438 $4,677 4.01%
    Asian Indian 6 $2,350,000 $391,667 $7,337 3.27%
    Native Hawaiian or Islander 3 $815,000 $271,667 $5,351 4.17%
    Other Asian 1 $465,000 $465,000 $4,000 2.63%

    Approval Rates

    Total approvals of all applications
    92.01%

    University Federal Credit Union has an average approval rate.

    Pick Rate

    Approvals leading to origination
    71.00%

    University Federal Credit Union has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 4,058 $1,177,560,000 $290,182

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Site-Built 6 $49,950,000 $8,325,000
    Single Family (1-4 Units):Site-Built 4,052 $1,127,610,000 $278,285

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 273 $42,515,000 $155,733 $2,645 3.98%
    40-60% 295 $80,195,000 $271,847 $5,569 3.73%
    60-80% 1,307 $476,785,000 $364,793 $6,733 3.84%
    80-100% 1,675 $542,365,000 $323,800 $6,493 3.80%
    Under 20% 508 $35,700,000 $70,276 $1,167 4.11%

    Complaints

    Bank Name Product Issue 2019 CPFB Complaints % of Total Issues
    Unifirst Mortgage Corporation FHA mortgage Applying for a mortgage or refinancing an existing mortgage 1 100.0%