United Consumers Credit Union Mortgage Rates, Fees & Info

Independence, MO

LEI: 549300D5WZYDJFZQJ463

Tax ID: 44-0541384

5 stars - Updated: 3/27/24 - out of 5 stars, based on 2 reviews

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

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Mortgage Data

Review & Overview

United Consumers Credit Union is a smaller credit union specializing in Home Purchase loans. United Consumers Credit Union has a high proportion of conventional loans. Their top (well, only) market is Kansas City.

United Consumers Credit Union has a below average approval rate when compared to the average across all lenders. They have a below average pick rate when compared to similar lenders. United Consumers 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 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.

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Originations

4

Origination Dollar Volume (All Markets)

$530,000

Relative Rate

United Consumers Credit Union's average 30 year fixed mortgage rate was 6.53%.

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

This yields a difference of 0.05%.

Relative Fees (Closing Costs)

United Consumers Credit Union's average total fees/closing costs for a 30 year fixed rate mortgage were $2,621.

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
KANSAS CITY, MO-KS (FHA|USDA|VA) 4 $530,000 $132,500 $2,621 6.53%
United Consumers Credit Union's top markets include and Kansas City among others.

Their top states include:
  • Missouri (FHA|USDA|VA)
  • Similar Lenders

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

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    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 4 $530,000 $132,500 $2,621 6.53%

    For 2023, United Consumers Credit Union's most frequently originated type of loan was Conventional, with 4 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 2 $350,000 $175,000 $2,921 6.50%
    Refi 1 $105,000 $105,000 $2,346 6.38%
    Cash Out Refi 1 $75,000 $75,000 $2,296 6.75%

    For 2023, United Consumers Credit Union's most frequently cited loan purpose was Home Purchase, with 2 originations. The 2nd most popular reason was Refi, with 1 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 4 $530,000 $132,500 $2,621 6.53%

    For 2023, United Consumers Credit Union's most frequently cited loan duration was 30 Year, with 4 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 3 $275,000 $91,667
    $1k-2k 1 $255,000 $255,000

    United Consumers Credit Union's average total fees were $2,621, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 3 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    6-7% 4 $530,000 $132,500

    During 2023, United Consumers Credit Union's average interest rate for loans was 6.53%, while their most frequently originated rate bucket for loans was 6-7%, with 4 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 2 $170,000 $85,000 $2,395 6.69%
    $100k-200k 1 $105,000 $105,000 $2,346 6.38%
    $200k-400k 1 $255,000 $255,000 $3,349 6.38%

    2023 saw United Consumers Credit Union place emphasis on $100,000 or less loans with 2 originations, totaling $170,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k or less 3 $275,000 $91,667 $2,378 6.58%
    $100k-150k 1 $255,000 $255,000 $3,349 6.38%

    United Consumers Credit Union lent most frequently to those with incomes in the $50k or less range, with 3 originations. The second most popular income band? $100k-150k, with 1 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 3 $425,000 $141,667 $2,713 6.58%
    50-60% 1 $105,000 $105,000 $2,346 6.38%

    United Consumers Credit Union lent most frequently to those with DTI ratios of 20-30%, with 3 originations. The next most common DTI ratio? 50-60%, with 1 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 4 $530,000 $132,500 $2,621 6.53%

    Approval Rates

    Total approvals of all applications
    68.42%

    United Consumers Credit Union has a low approval rate. They may have poor market targeting or stringent lending standards.

    Pick Rate

    Approvals leading to origination
    -300.00%

    United Consumers 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 4 $530,000 $132,500

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    4 $530,000 $132,500

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    40-60% 2 $180,000 $90,000 $2,321 6.56%
    80-100% 2 $350,000 $175,000 $2,921 6.50%