Utilities Employees Credit Union Mortgage Rates, Fees & Info

Wyomissing, PA

LEI: 549300AX5UMUZ61L1X54

Tax ID: 23-1278971

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

Jump to:

  • SimulatedRates™
  • Mortgage Calculator

    • Mortgage Data

  • Originations
  • 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

    Utilities Employees Credit Union is a smaller credit union specializing in Refi and Home Purchase loans. Utilities Employees Credit Union has a high proportion of conventional loans. Their top (well, only) market is Reading.

    Utilities Employees 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. Utilities Employees Credit Union is typically a low 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.

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    SimulatedRates™

    Mortgage Type     		Simulated Rate Simulation Date
    Home Equity Line of Credit (HELOC) 6.27% 4/28/24
    30 Year Conventional Purchase 6.37% 4/28/24
    30 Year Conventional Refi 6.41% 4/28/24
    30 Year Cash-out Refi 6.87% 4/28/24
    15 Year Conventional Purchase 5.33% 4/28/24
    15 Year Conventional Refi 5.44% 4/28/24
    15 Year Cash-out Refi 5.44% 4/28/24
    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.

    Utilities Employees Credit Union Mortgage Calculator






    Your Estimates

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

    This is not an official calculator from Utilities Employees 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

    515

    Origination Dollar Volume (All Markets)

    $46,125,000

    Awards

    UTILITIES EMPLOYEES CREDIT UNION 30 Year Conventional Loans gold
    Show all (1) 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
    Outside of Metro Areas 415 $38,405,000 $92,542 $937 4.47%
    READING, PA (FHA|USDA|VA) 100 $7,720,000 $77,200 $745 4.39%
    Utilities Employees Credit Union's top markets include and Reading among others.

    Their top states include:
  • Pennsylvania (FHA|USDA|VA)
  • New Jersey (FHA|USDA|VA)
  • New York (FHA|USDA|VA)
  • South Carolina (FHA|USDA|VA)
  • Florida (FHA|USDA|VA)

    • Similar Lenders

    We use machine learning to identify the top lenders compared against UTILITIES EMPLOYEES CREDIT UNION based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.

    UTILITIES EMPLOYEES CREDIT UNION
    Similarity Rank: 42
    N C P D Federal Credit Union
    Similarity Rank: 56
    Schuyler Savings Bank
    Similarity Rank: 104
    PENNSYLVANIA STATE EMPLOYEES Credit Union
    Similarity Rank: 114
    Union County Savings Bank
    Similarity Rank: 150
    GARDEN SAVINGS FEDERAL CREDIT UNION
    Similarity Rank: 192
    Blue Foundry Bank
    Similarity Rank: 212
    Diamond Credit Union
    Similarity Rank: 228
    Bogota Savings Bank
    Similarity Rank: 246
    MOUNTAIN MORTGAGE CORP.
    Similarity Rank: 266

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 515 $46,125,000 $89,563 $900 4.46%

    For 2019, Utilities Employees Credit Union's most frequently originated type of loan was Conventional, with 515 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Other 153 $7,815,000 $51,078 $240 4.69%
    Home Improvement 144 $6,630,000 $46,042 $118 4.46%
    Refi 83 $10,195,000 $122,831 $1,052 4.36%
    Home Purchase 79 $14,815,000 $187,532 $3,143 4.17%
    Cash Out Refi 55 $6,625,000 $120,455 $1,347 4.33%
    NA 1 $45,000 $45,000 $275 5.74%

    For 2019, Utilities Employees Credit Union's most frequently cited loan purpose was Other, with 153 originations. The 2nd most popular reason was Home Improvement, with 144 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    10 Year 149 $8,365,000 $56,141 $195 4.58%
    15 Year 102 $10,720,000 $105,098 $882 4.67%
    5 Year 97 $3,165,000 $32,629 $90 3.88%
    30 Year 75 $16,375,000 $218,333 $3,629 4.17%
    20 Year 50 $5,830,000 $116,600 $1,191 5.06%
    Other 35 $1,445,000 $41,286 $104 4.77%
    3 Year 6 $200,000 $33,333 $48 3.91%
    1 Year 1 $25,000 $25,000 $0 3.49%

    For 2019, Utilities Employees Credit Union's most frequently cited loan duration was 10 Year, with 149 originations. The 2nd most popular length was 15 Year, with 102 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 408 $24,490,000 $60,025
    $1k-2k 105 $21,295,000 $202,810
    $3k-4k 1 $235,000 $235,000

    Utilities Employees Credit Union's average total fees were $3,629, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 408 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    4-5% 216 $21,370,000 $98,935
    3-4% 212 $19,240,000 $90,755
    5-6% 45 $2,945,000 $65,444
    6-7% 21 $1,045,000 $49,762
    7-8% 15 $695,000 $46,333
    2.5-3% 4 $760,000 $190,000
    Over 8% 2 $70,000 $35,000

    During 2019, Utilities Employees Credit Union's average interest rate for loans was 4.17%, while their most frequently originated rate bucket for loans was 4-5%, with 216 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 359 $15,905,000 $44,304 $186 4.57%
    $100k-200k 95 $13,105,000 $137,947 $1,794 4.33%
    $200k-400k 55 $14,095,000 $256,273 $3,746 4.01%
    $400k-600k 5 $2,255,000 $451,000 $3,437 4.22%
    $600k-1MM 1 $765,000 $765,000 $4,049 3.63%

    2019 saw Utilities Employees Credit Union place emphasis on $100,000 or less loans with 359 originations, totaling $15,905,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 152 $14,410,000 $94,803 $900 4.51%
    $150k-250k 117 $11,985,000 $102,436 $923 4.34%
    $75k-100k 110 $10,030,000 $91,182 $1,094 4.48%
    $50k-75k 80 $5,310,000 $66,375 $792 4.53%
    $50k or less 37 $1,835,000 $49,595 $665 4.41%
    $250k+ 11 $2,025,000 $184,091 $952 4.49%

    Utilities Employees Credit Union lent most frequently to those with incomes in the $100k-150k range, with 152 originations. The second most popular income band? $150k-250k, with 117 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 143 $13,195,000 $92,273 $976 4.29%
    30-36% 101 $8,365,000 $82,822 $916 4.46%
    <20% 65 $6,025,000 $92,692 $1,222 4.10%
    50-60% 24 $2,170,000 $90,417 $711 4.38%
    42% 23 $2,025,000 $88,043 $759 4.85%
    37% 19 $2,835,000 $149,211 $1,648 4.50%
    38% 18 $900,000 $50,000 $293 4.54%
    40% 18 $1,380,000 $76,667 $900 4.93%
    39% 14 $1,360,000 $97,143 $328 4.66%
    41% 14 $1,060,000 $75,714 $942 4.79%
    36% 13 $1,305,000 $100,385 $1,161 4.61%
    46% 10 $740,000 $74,000 $640 4.95%
    43% 10 $750,000 $75,000 $225 4.59%
    47% 10 $660,000 $66,000 $338 4.58%
    45% 9 $1,565,000 $173,889 $1,605 4.81%
    44% 9 $455,000 $50,556 $253 4.60%
    48% 6 $690,000 $115,000 $588 5.20%
    >60% 5 $265,000 $53,000 $43 5.09%
    49% 3 $215,000 $71,667 $0 4.41%

    Utilities Employees Credit Union lent most frequently to those with DTI ratios of 20-30%, with 143 originations. The next most common DTI ratio? 30-36%, with 101 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 426 $39,610,000 $92,981 $967 4.37%
    Not provided 66 $4,840,000 $73,333 $579 4.89%
    Black 15 $735,000 $49,000 $112 5.30%
    Asian 3 $675,000 $225,000 $3,617 4.29%
    Asian Indian 3 $205,000 $68,333 $71 4.07%
    Other Asian 1 $35,000 $35,000 $0 3.99%
    Korean 1 $25,000 $25,000 $275 3.74%

    Approval Rates

    Total approvals of all applications
    90.64%

    Utilities Employees Credit Union has an average approval rate.

    Pick Rate

    Approvals leading to origination
    73.98%

    Utilities Employees Credit Union has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 515 $46,125,000 $89,563

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Single Family (1-4 Units):Manufactured 1 $25,000 $25,000
    Single Family (1-4 Units):Site-Built 514 $46,100,000 $89,689

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 129 $8,765,000 $67,946 $246 4.70%
    40-60% 53 $6,285,000 $118,585 $1,307 4.22%
    60-80% 67 $12,915,000 $192,761 $2,725 4.12%
    80-100% 55 $10,535,000 $191,545 $2,975 4.35%
    Under 20% 211 $7,625,000 $36,137 $86 4.50%