Utilities Employees Credit Union Mortgage Rates, Fees & Info
Wyomissing, PALEI: 549300AX5UMUZ61L1X54
Tax ID: 23-1278971
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Mortgage Data
Review & Overview
Utilities Employees Credit Union is a smaller credit union specializing in Refi, Cash Out Refi, and Home Purchase loans. Utilities Employees Credit Union has a high proportion of conventional loans. Their top markets by origination volume include: Reading, New York, Charlotte, Columbia, and Allentown among others. We have data for 53 markets. (Some data included below & more in-depth data is available with an active subscription.)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.
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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
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
491Origination Dollar Volume (All Markets)
$56,155,000Awards
UTILITIES EMPLOYEES CREDIT UNION - 2020
UTILITIES EMPLOYEES CREDIT UNION is a 2020 , due to their low .
For 2020, less than of lenders were eligible for this award.
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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 | 268 | $19,160,000 | $71,493 | $706 | 4.01% |
| READING, PA (FHA|USDA|VA) | 97 | $8,125,000 | $83,763 | $3,922 | 3.67% |
| New York-Newark-Jersey City, NY-NJ-PA (FHA|USDA|VA) | 25 | $6,285,000 | $251,400 | $3,897 | 3.27% |
| CHARLOTTE-CONCORD-GASTONIA, NC-SC (FHA|USDA|VA) | 8 | $2,170,000 | $271,250 | $3,355 | 3.12% |
| COLUMBIA, SC (FHA|USDA|VA) | 6 | $1,720,000 | $286,667 | $3,209 | 3.44% |
| ALLENTOWN-BETHLEHEM-EASTON, PA-NJ (FHA|USDA|VA) | 8 | $1,680,000 | $210,000 | $4,116 | 3.45% |
| Philadelphia-Camden-Wilmington, PA-NJ-DE-MD (FHA|USDA|VA) | 6 | $1,560,000 | $260,000 | $4,526 | 3.27% |
| BUFFALO-CHEEKTOWAGA, NY (FHA|USDA|VA) | 6 | $1,140,000 | $190,000 | $3,195 | 3.50% |
| PITTSBURGH, PA (FHA|USDA|VA) | 5 | $1,115,000 | $223,000 | $4,414 | 3.43% |
| ROCHESTER, NY (FHA|USDA|VA) | 4 | $940,000 | $235,000 | $3,586 | 3.62% |
| PORT ST. LUCIE, FL (FHA|USDA|VA) | 3 | $895,000 | $298,333 | $4,036 | 3.25% |
| HARRISBURG-CARLISLE, PA (FHA|USDA|VA) | 4 | $890,000 | $222,500 | $4,174 | 3.38% |
| BALTIMORE-COLUMBIA-TOWSON, MD (FHA|USDA|VA) | 1 | $755,000 | $755,000 | $5,252 | 2.75% |
| LEBANON, PA (FHA|USDA|VA) | 3 | $595,000 | $198,333 | $4,269 | 3.63% |
| EAST STROUDSBURG, PA (FHA|USDA|VA) | 3 | $555,000 | $185,000 | $4,073 | 3.50% |
| Georgetown, SC (FHA|USDA|VA) | 1 | $505,000 | $505,000 | $4,251 | 3.25% |
| ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) | 2 | $490,000 | $245,000 | $3,994 | 3.25% |
| JACKSONVILLE, FL (FHA|USDA|VA) | 1 | $485,000 | $485,000 | $4,195 | 3.50% |
| LANCASTER, PA (FHA|USDA|VA) | 3 | $425,000 | $141,667 | $4,126 | 3.21% |
| OCEAN CITY, NJ (FHA|USDA|VA) | 1 | $415,000 | $415,000 | $4,417 | 3.25% |
| Indiana, PA (FHA|USDA|VA) | 2 | $390,000 | $195,000 | $4,495 | 3.56% |
| ATLANTA-SANDY SPRINGS-ALPHARETTA, GA (FHA|USDA|VA) | 1 | $365,000 | $365,000 | $3,346 | 3.25% |
| TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) | 2 | $360,000 | $180,000 | $3,510 | 3.25% |
| Dallas-Fort Worth-Arlington, TX (FHA|USDA|VA) | 1 | $315,000 | $315,000 | $4,538 | 3.63% |
| ATLANTIC CITY-HAMMONTON, NJ (FHA|USDA|VA) | 1 | $285,000 | $285,000 | $3,543 | 3.25% |
| Seneca, SC (FHA|USDA|VA) | 1 | $285,000 | $285,000 | $3,294 | 3.13% |
| Orangeburg, SC (FHA|USDA|VA) | 2 | $280,000 | $140,000 | $2,726 | 3.19% |
| BRIDGEPORT-STAMFORD-NORWALK, CT (FHA|USDA|VA) | 1 | $275,000 | $275,000 | $2,993 | 3.25% |
| ERIE, PA (FHA|USDA|VA) | 1 | $265,000 | $265,000 | $2,864 | 3.25% |
| ASHEVILLE, NC (FHA|USDA|VA) | 1 | $255,000 | $255,000 | $3,201 | 3.38% |
| GREENSBORO-HIGH POINT, NC (FHA|USDA|VA) | 1 | $215,000 | $215,000 | $2,785 | 3.50% |
| Sayre, PA (FHA|USDA|VA) | 1 | $215,000 | $215,000 | $4,310 | 3.38% |
| GREENVILLE-ANDERSON, SC (FHA|USDA|VA) | 1 | $205,000 | $205,000 | $3,255 | 3.00% |
| VISALIA, CA (FHA|USDA|VA) | 1 | $175,000 | $175,000 | $2,617 | 4.13% |
| Gainesville, TX (FHA|USDA|VA) | 1 | $175,000 | $175,000 | $3,502 | 3.00% |
| DELTONA-DAYTONA BEACH-ORMOND BEACH, FL (FHA|USDA|VA) | 1 | $175,000 | $175,000 | $3,523 | 3.00% |
| CINCINNATI, OH-KY-IN (FHA|USDA|VA) | 1 | $175,000 | $175,000 | $3,054 | 3.50% |
| UTICA-ROME, NY (FHA|USDA|VA) | 1 | $165,000 | $165,000 | $3,624 | 3.13% |
| Warren, PA (FHA|USDA|VA) | 1 | $165,000 | $165,000 | $3,713 | 3.25% |
| DAYTON-KETTERING, OH (FHA|USDA|VA) | 1 | $155,000 | $155,000 | $3,366 | 3.25% |
| Auburn, NY (FHA|USDA|VA) | 1 | $155,000 | $155,000 | $3,188 | 3.25% |
| DuBois, PA (FHA|USDA|VA) | 1 | $145,000 | $145,000 | $4,331 | 3.25% |
| Pinehurst-Southern Pines, NC (FHA|USDA|VA) | 1 | $135,000 | $135,000 | $2,704 | 3.13% |
| Hudson, NY (FHA|USDA|VA) | 1 | $135,000 | $135,000 | $3,024 | 3.13% |
| CLEVELAND-ELYRIA, OH (FHA|USDA|VA) | 1 | $135,000 | $135,000 | $3,151 | 3.50% |
| Huntingdon, PA (FHA|USDA|VA) | 1 | $125,000 | $125,000 | $4,197 | 3.50% |
| YORK-HANOVER, PA (FHA|USDA|VA) | 1 | $105,000 | $105,000 | $3,881 | 2.88% |
| LOGAN, UT-ID (FHA|USDA|VA) | 1 | $105,000 | $105,000 | $2,846 | 3.00% |
| Somerset, PA (FHA|USDA|VA) | 1 | $75,000 | $75,000 | $3,336 | 3.63% |
| SAVANNAH, GA (FHA|USDA|VA) | 1 | $75,000 | $75,000 | $658 | 6.75% |
| BINGHAMTON, NY (FHA|USDA|VA) | 1 | $65,000 | $65,000 | $2,311 | 3.50% |
| Oil City, PA (FHA|USDA|VA) | 1 | $65,000 | $65,000 | $3,914 | 3.99% |
| OCALA, FL (FHA|USDA|VA) | 1 | $35,000 | $35,000 | $209 | 3.99% |
Their top states include:
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Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 491 | $56,155,000 | $114,369 | $2,564 | 3.77% |
For 2020, Utilities Employees Credit Union's most frequently originated type of loan was Conventional, with 491 originations.
Loan Reason
For 2020, Utilities Employees Credit Union's most frequently cited loan purpose was Home Improvement, with 127 originations. The 2nd most popular reason was Other, with 114 originations.
Loan Duration/Length
For 2020, Utilities Employees Credit Union's most frequently cited loan duration was 10 Year, with 144 originations. The 2nd most popular length was 30 Year, with 98 originations.
Origination Fees/Closing Costs
| Origination Fee/Closing Cost | Originations | Total Value | Average Loan |
|---|---|---|---|
| $1k-2k | 154 | $33,130,000 | $215,130 |
Utilities Employees Credit Union's average total fees were $3,889, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 154 originations.
Interest Rates
During 2020, Utilities Employees Credit Union's average interest rate for loans was 3.43%, while their most frequently originated rate bucket for loans was 3-4%, with 314 originations.
Loan Sizing
2020 saw Utilities Employees Credit Union place emphasis on $100,000 or less loans with 296 originations, totaling $14,180,000 in origination value.
Applicant Income
Utilities Employees Credit Union lent most frequently to those with incomes in the $100k-150k range, with 146 originations. The second most popular income band? $75k-100k, with 124 originations.
Applicant Debt to Income Ratio
Utilities Employees Credit Union lent most frequently to those with DTI ratios of 20-30%, with 148 originations. The next most common DTI ratio? <20%, with 88 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications91.85%
Utilities Employees Credit Union has an average approval rate.
Pick Rate
Approvals leading to origination73.12%
Utilities Employees Credit Union has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 491 | $56,155,000 | $114,369 |
Occupancy Type Mix
| Dwelling Type | Originations | Total Value | Average Loan |
|---|---|---|---|
| Single Family (1-4 Units):Manufactured | 1 | $145,000 | $145,000 |
| Single Family (1-4 Units):Site-Built | 490 | $56,010,000 | $114,306 |