University Credit Union Mortgage Rates, Fees & Info

Los Angeles, CA

LEI: 549300G5ZQEXZC4Y5G44

Tax ID: 95-1715669

5 stars - out of 5 stars, based on 16 reviews

2021 Data | 2020 Data | 2019 Data | 2018 Data


Overview

University Credit Union is a smaller credit union specializing in Cash Out Refi, Refi, and Home Purchase loans. University Credit Union has a high proportion of conventional loans. Their top markets include Los Angeles, Riverside, San Luis Obispo, Oxnard, and San Francisco among others. University Credit Union has an above average approval rate for mortages when compared nationally. They have a below average pick rate when compared to the same sample of other lendors. University Credit Union is typically an average fee lendor.


Originations

265

Origination Dollar Volume (All Markets)

$147,155,000

Relative Rate

University Credit Union's average 30 year fixed rate mortgage of loans were 3.01%.

The 2021 average 30 year fixed rate mortgage across all markets of loans were 3.15%.

This yields a difference of -0.14%.

Relative Fees

University Credit Union's average total fees for a 30 year fixed rate mortgage are $5,145.

The average total origination fees for 30 year fixed rate mortgages (for all loan values, including both points & up-front fees in addition to origination fees) are $4,750.

Top Markets

Market Originations Total Value Average Loan Average Fees Average Rate
Los Angeles-Long Beach-Anaheim, CA (FHA|USDA|VA) 197 $113,735,000 $577,335 $5,412 2.95%
RIVERSIDE-SAN BERNARDINO-ONTARIO, CA (FHA|USDA|VA) 6 $3,630,000 $605,000 $7,642 2.66%
SAN LUIS OBISPO-PASO ROBLES, CA (FHA|USDA|VA) 3 $3,125,000 $1,041,667 $9,013 2.37%
OXNARD-THOUSAND OAKS-VENTURA, CA (FHA|USDA|VA) 6 $3,020,000 $503,333 $5,074 3.02%
San Francisco-Oakland-Berkeley, CA (FHA|USDA|VA) 6 $2,940,000 $490,000 $3,958 2.98%
BOULDER, CO (FHA|USDA|VA) 1 $2,205,000 $2,205,000 $6,320 3.88%
DENVER-AURORA-LAKEWOOD, CO (FHA|USDA|VA) 3 $2,055,000 $685,000 $3,990 3.58%
SAN DIEGO-CHULA VISTA-CARLSBAD, CA (FHA|USDA|VA) 3 $1,565,000 $521,667 $5,578 2.71%
New York-Newark-Jersey City, NY-NJ-PA (FHA|USDA|VA) 1 $955,000 $955,000 $9,979 2.88%
PORTLAND-VANCOUVER-HILLSBORO, OR-WA (FHA|USDA|VA) 2 $930,000 $465,000 $3,728 2.94%
SAN JOSE-SUNNYVALE-SANTA CLARA, CA (FHA|USDA|VA) 1 $885,000 $885,000 $4,657 2.75%
Bozeman, MT (FHA|USDA|VA) 1 $875,000 $875,000 $4,581 2.88%
BELLINGHAM, WA (FHA|USDA|VA) 1 $775,000 $775,000 $4,851 2.88%
GREENVILLE-ANDERSON, SC (FHA|USDA|VA) 1 $755,000 $755,000 $4,097 3.88%
CHARLOTTE-CONCORD-GASTONIA, NC-SC (FHA|USDA|VA) 2 $730,000 $365,000 $3,861 3.06%
KANSAS CITY, MO-KS (FHA|USDA|VA) 2 $620,000 $310,000 $2,172 2.31%
ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) 1 $615,000 $615,000 $6,761 3.38%
SACRAMENTO-ROSEVILLE-FOLSOM, CA (FHA|USDA|VA) 2 $590,000 $295,000 $6,074 2.75%
FRESNO, CA (FHA|USDA|VA) 2 $570,000 $285,000 $3,440 3.19%
Glenwood Springs, CO (FHA|USDA|VA) 1 $545,000 $545,000 $2,911 2.35%
CHARLESTON-NORTH CHARLESTON, SC (FHA|USDA|VA) 1 $495,000 $495,000 $3,897 4.00%
MEMPHIS, TN-MS-AR (FHA|USDA|VA) 1 $475,000 $475,000 $2,535 2.35%
PITTSBURGH, PA (FHA|USDA|VA) 2 $460,000 $230,000 $3,871 2.86%
Sandpoint, ID (FHA|USDA|VA) 1 $415,000 $415,000 $6,836 3.38%
Brevard, NC (FHA|USDA|VA) 1 $395,000 $395,000 $3,717 2.50%
AUSTIN-ROUND ROCK-GEORGETOWN, TX (FHA|USDA|VA) 1 $345,000 $345,000 $5,835 2.25%
BAKERSFIELD, CA (FHA|USDA|VA) 1 $345,000 $345,000 $3,207 2.85%
PHOENIX-MESA-CHANDLER, AZ (FHA|USDA|VA) 1 $335,000 $335,000 $3,879 3.00%
Philadelphia-Camden-Wilmington, PA-NJ-DE-MD (FHA|USDA|VA) 1 $325,000 $325,000 $5,188 3.00%
Dallas-Fort Worth-Arlington, TX (FHA|USDA|VA) 1 $305,000 $305,000 $3,409 3.00%
SANTA CRUZ-WATSONVILLE, CA (FHA|USDA|VA) 1 $305,000 $305,000 $3,753 3.25%
Truckee-Grass Valley, CA (FHA|USDA|VA) 1 $285,000 $285,000 $2,513 3.00%
HOUSTON-THE WOODLANDS-SUGAR LAND, TX (FHA|USDA|VA) 1 $265,000 $265,000 $4,336 3.13%
MERCED, CA (FHA|USDA|VA) 1 $205,000 $205,000 $3,772 2.38%
DAVENPORT-MOLINE-ROCK ISLAND, IA-IL (FHA|USDA|VA) 2 $190,000 $95,000 $3,593 3.13%
COLUMBUS, OH (FHA|USDA|VA) 1 $185,000 $185,000 $2,354 3.13%
SAN ANTONIO-NEW BRAUNFELS, TX (FHA|USDA|VA) 1 $175,000 $175,000 $4,682 4.25%
Chicago-Naperville-Elgin, IL-IN-WI (FHA|USDA|VA) 1 $165,000 $165,000 $4,810 2.88%
ST. LOUIS, MO-IL (FHA|USDA|VA) 1 $155,000 $155,000 $5,618 2.25%
Coos Bay, OR (FHA|USDA|VA) 1 $105,000 $105,000 $2,550 2.63%
REDDING, CA (FHA|USDA|VA) 1 $105,000 $105,000 $2,421 1.99%

University Credit Union's top markets include Los Angeles, Riverside, San Luis Obispo, Oxnard, and San Francisco among others.

Product Mix

Loan Type Originations Total Value Average Loan Average Fees Average Rate
Conventional 265 $147,155,000 $555,302 $5,263 2.94%

For the 2021 period, University Credit Union's most frequently originated loan type of loans were Conventional, with 265 originations.

Loan Reason

Loan Reason Originations Total Value Average Loan Average Fees Average Rate
Cash Out Refi 106 $55,410,000 $522,736 $5,055 2.99%
Refi 85 $48,045,000 $565,235 $4,799 2.86%
Home Purchase 49 $30,445,000 $621,327 $6,729 2.97%
Home Improvement 25 $13,255,000 $530,200 $4,838 2.94%

For the 2021, University Credit Union's most frequently cited loan purpose of loans were Cash Out Refi, with 106 originations. The 2nd most popular reason of loans were Refi, with 85 originations.

Loan Duration/Length

Loan Length Originations Total Value Average Loan Average Fees Average Rate
30 Year 201 $126,005,000 $626,891 $5,145 3.01%
15 Year 45 $14,545,000 $323,222 $5,774 2.64%
20 Year 14 $4,980,000 $355,714 $5,456 3.04%
10 Year 3 $855,000 $285,000 $3,231 2.67%
Other 2 $770,000 $385,000 $7,217 2.81%

For the 2021, University Credit Union's most frequently cited loan length of loans were 30 Year, with 201 originations. The 2nd most popular length of loans were 15 Year, with 45 originations.

Origination Fees

Origination Fee Originations Total Value Average Loan
$1k-2k 148 $75,570,000 $510,608
$2k-3k 43 $34,595,000 $804,535
$5k+ 30 $14,160,000 $472,000
$3k-4k 28 $14,710,000 $525,357
$<1k 15 $7,605,000 $507,000

$5,145 of loans were University Credit Union's average total fees, while their most frequently occuring range of origination fees were in the $1k-2k bucket, with 148 originations.

Interest Rates

Loan Rate Originations Total Value Average Loan
2.5-3% 108 $55,940,000 $517,963
3-4% 107 $65,935,000 $616,215
<2.5% 49 $25,105,000 $512,347
4-5% 1 $175,000 $175,000

During 2021, University Credit Union's average interest rate of loans were 3.01%, while their most frequently originated rate bucket of loans were 2.5-3%, with 108 originations.

Loan Sizing

Loan Size Originations Total Value Average Loan Average Fees Average Rate
$200k-400k 91 $27,815,000 $305,659 $5,057 2.91%
$400k-600k 68 $32,700,000 $480,882 $5,087 2.97%
$600k-1MM 59 $48,095,000 $815,169 $5,327 2.98%
$1MM+ 25 $35,185,000 $1,407,400 $7,467 2.98%
$100k-200k 21 $3,275,000 $155,952 $3,930 2.80%
$100,000 or less 1 $85,000 $85,000 $4,898 3.00%

2021 saw University Credit Union place emphasis on $200k-400k loans with 91 originations, totaling $27,815,000 in origination value.

Applicant Income

Applicant Income Originations Total Value Average Loan Average Fees Average Rate
$150k-250k 73 $41,635,000 $570,342 $6,266 3.02%
$250k+ 65 $55,485,000 $853,615 $5,489 2.81%
$100k-150k 64 $30,710,000 $479,844 $4,947 2.94%
$75k-100k 36 $12,250,000 $340,278 $4,255 2.99%
$50k-75k 23 $6,265,000 $272,391 $4,320 2.95%
$50k or less 4 $810,000 $202,500 $2,884 3.09%

University Credit Union lent most frequently to those with incomes in the $150k-250k range, with 73 originations. The second most popular income band? $250k+, with 65 originations.

Applicant Debt to Income Ratio

DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
20-30% 52 $24,690,000 $474,808 $5,790 2.95%
30-36% 44 $21,320,000 $484,545 $5,111 2.92%
37% 21 $10,865,000 $517,381 $4,421 2.99%
<20% 17 $5,405,000 $317,941 $3,930 2.76%
42% 17 $12,505,000 $735,588 $3,979 2.93%
40% 15 $7,265,000 $484,333 $4,811 3.06%
36% 14 $6,550,000 $467,857 $6,265 2.83%
44% 13 $8,025,000 $617,308 $6,287 2.86%
45% 13 $7,465,000 $574,231 $4,683 3.04%
41% 12 $12,430,000 $1,035,833 $5,666 3.08%
49% 12 $6,620,000 $551,667 $5,916 3.05%
47% 9 $4,595,000 $510,556 $5,715 2.96%
43% 8 $5,050,000 $631,250 $4,682 2.71%
39% 7 $6,875,000 $982,143 $6,200 3.10%
48% 4 $2,970,000 $742,500 $8,777 2.53%
46% 3 $1,695,000 $565,000 $5,499 3.21%
50-60% 2 $680,000 $340,000 $3,132 2.62%
38% 2 $2,150,000 $1,075,000 $4,786 3.25%

University Credit Union lent most frequently to those with DTI ratios of 20-30%, with 52 originations. The next most common DTI ratio? 30-36%, with 44 originations.

Ethnicity Mix

Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
White 106 $57,970,000 $546,887 $4,832 2.97%
Not provided 92 $56,190,000 $610,761 $6,029 2.89%
Asian 33 $17,585,000 $532,879 $4,580 2.93%
Black 31 $14,295,000 $461,129 $5,314 3.01%
Asian Indian 1 $755,000 $755,000 $4,763 2.75%
American Indian 1 $205,000 $205,000 $3,772 2.38%
Filipino 1 $155,000 $155,000 $3,415 2.88%

Approval Rates

Total approvals of all applications
90.66%

University Credit Union has an average approval rate.

Pick Rate

Approvals leading to origination
37.19%

University 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 265 $147,155,000 $555,302

Occupancy Type Mix

Dwelling Type Originations Total Value Average Loan
265 $147,155,000 $555,302

LTV Distribution

Loan to Value Originations Total Value Average Loan Average Fees Average Rate
20-40% 45 $17,855,000 $396,778 $4,630 2.83%
40-60% 69 $37,985,000 $550,507 $4,773 2.92%
60-80% 107 $66,055,000 $617,336 $5,085 2.99%
80-100% 32 $22,110,000 $690,938 $6,837 3.05%
Under 20% 12 $3,150,000 $262,500 $7,831 2.64%

Complaints

Bank Name Product Issue 2021 CPFB Complaints % of Total Issues
UNIVERSAL LENDING CORP. Conventional home mortgage Struggling to pay mortgage 1 100.0%