University Credit Union Mortgage Rates, Fees & Info
Los Angeles, CALEI: 549300G5ZQEXZC4Y5G44
Tax ID: 95-1715669
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Mortgage Data
Review & Overview
University Credit Union is a smaller credit union specializing in Refi, Cash Out Refi, and Home Purchase loans. University Credit Union has a high proportion of conventional loans. Their top markets by origination volume include: Los Angeles, Riverside, Oxnard, San Francisco, and Seattle among others. We have data for 23 markets. (Some data included below & more in-depth data is available with an active subscription.)University 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 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.
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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| Home Equity Line of Credit (HELOC) | 6.59% | 4/21/24 |
| 30 Year Conventional Purchase | 6.42% | 4/21/24 |
| 30 Year Conventional Refi | 6.33% | 4/21/24 |
| 30 Year Cash-out Refi | 6.39% | 4/21/24 |
| 15 Year Conventional Purchase | 5.85% | 4/21/24 |
| 15 Year Conventional Refi | 5.70% | 4/21/24 |
| 15 Year Cash-out Refi | 5.70% | 4/21/24 |
| 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 Credit Union Mortgage Calculator
Your Estimates
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This is not an official calculator from University Credit Union. It uses our SimulatedRate™
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
295Origination Dollar Volume (All Markets)
$146,075,000Top 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 |
|---|---|---|---|---|---|
| Los Angeles-Long Beach-Anaheim, CA (FHA|USDA|VA) | 227 | $117,555,000 | $517,863 | $5,178 | 3.27% |
| RIVERSIDE-SAN BERNARDINO-ONTARIO, CA (FHA|USDA|VA) | 17 | $6,525,000 | $383,824 | $4,912 | 3.29% |
| OXNARD-THOUSAND OAKS-VENTURA, CA (FHA|USDA|VA) | 11 | $4,685,000 | $425,909 | $4,465 | 3.13% |
| San Francisco-Oakland-Berkeley, CA (FHA|USDA|VA) | 7 | $4,175,000 | $596,429 | $7,846 | 3.29% |
| Seattle-Tacoma-Bellevue, WA (FHA|USDA|VA) | 2 | $2,510,000 | $1,255,000 | $16,648 | 3.00% |
| PORTLAND-VANCOUVER-HILLSBORO, OR-WA (FHA|USDA|VA) | 6 | $2,470,000 | $411,667 | $5,166 | 3.08% |
| KANSAS CITY, MO-KS (FHA|USDA|VA) | 3 | $1,125,000 | $375,000 | $3,147 | 3.00% |
| SACRAMENTO-ROSEVILLE-FOLSOM, CA (FHA|USDA|VA) | 3 | $1,105,000 | $368,333 | $4,694 | 3.42% |
| Dallas-Fort Worth-Arlington, TX (FHA|USDA|VA) | 2 | $900,000 | $450,000 | $6,422 | 2.88% |
| GREENVILLE-ANDERSON, SC (FHA|USDA|VA) | 1 | $745,000 | $745,000 | $6,050 | 3.88% |
| PHOENIX-MESA-CHANDLER, AZ (FHA|USDA|VA) | 2 | $610,000 | $305,000 | $4,335 | 3.38% |
| BAKERSFIELD, CA (FHA|USDA|VA) | 2 | $510,000 | $255,000 | $3,275 | 3.68% |
| SAN LUIS OBISPO-PASO ROBLES, CA (FHA|USDA|VA) | 2 | $410,000 | $205,000 | $7,192 | 2.81% |
| FORT COLLINS, CO (FHA|USDA|VA) | 1 | $385,000 | $385,000 | $3,154 | 2.63% |
| Eureka-Arcata, CA (FHA|USDA|VA) | 1 | $375,000 | $375,000 | $4,638 | 3.13% |
| Ukiah, CA (FHA|USDA|VA) | 1 | $365,000 | $365,000 | $4,188 | 3.50% |
| Truckee-Grass Valley, CA (FHA|USDA|VA) | 1 | $355,000 | $355,000 | $3,709 | 3.13% |
| MEDFORD, OR (FHA|USDA|VA) | 1 | $335,000 | $335,000 | $3,457 | 3.00% |
| HOUSTON-THE WOODLANDS-SUGAR LAND, TX (FHA|USDA|VA) | 1 | $265,000 | $265,000 | $3,930 | 3.25% |
| JACKSONVILLE, FL (FHA|USDA|VA) | 1 | $205,000 | $205,000 | $2,422 | 3.13% |
| COLLEGE STATION-BRYAN, TX (FHA|USDA|VA) | 1 | $175,000 | $175,000 | $3,925 | 5.25% |
| Outside of Metro Areas | 1 | $145,000 | $145,000 | $3,594 | 3.38% |
| OMAHA-COUNCIL BLUFFS, NE-IA (FHA|USDA|VA) | 1 | $145,000 | $145,000 | $2,349 | 3.13% |
Similar Lenders
We use machine learning to identify the top lenders compared against UNIVERSITY 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 | 295 | $146,075,000 | $495,169 | $5,202 | 3.26% |
For 2020, University Credit Union's most frequently originated type of loan was Conventional, with 295 originations.
Loan Reason
For 2020, University Credit Union's most frequently cited loan purpose was Refi, with 128 originations. The 2nd most popular reason was Cash Out Refi, with 104 originations.
Loan Duration/Length
For 2020, University Credit Union's most frequently cited loan duration was 30 Year, with 245 originations. The 2nd most popular length was 15 Year, with 32 originations.
Origination Fees/Closing Costs
University Credit Union's average total fees were $5,207, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 162 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 3-4% | 198 | $99,420,000 | $502,121 |
| 2.5-3% | 87 | $43,475,000 | $499,713 |
| <2.5% | 5 | $1,675,000 | $335,000 |
| 4-5% | 4 | $1,330,000 | $332,500 |
| 5-6% | 1 | $175,000 | $175,000 |
During 2020, University Credit Union's average interest rate for loans was 3.30%, while their most frequently originated rate bucket for loans was 3-4%, with 198 originations.
Loan Sizing
2020 saw University Credit Union place emphasis on $200k-400k loans with 105 originations, totaling $32,275,000 in origination value.
Applicant Income
University Credit Union lent most frequently to those with incomes in the $150k-250k range, with 89 originations. The second most popular income band? $100k-150k, with 74 originations.
Applicant Debt to Income Ratio
University Credit Union lent most frequently to those with DTI ratios of 20-30%, with 61 originations. The next most common DTI ratio? 30-36%, with 56 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications92.84%
University Credit Union has an average approval rate.
Pick Rate
Approvals leading to origination33.56%
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 | 295 | $146,075,000 | $495,169 |
Occupancy Type Mix
| Dwelling Type | Originations | Total Value | Average Loan |
|---|---|---|---|
| Single Family (1-4 Units):Manufactured | 1 | $175,000 | $175,000 |
| Single Family (1-4 Units):Site-Built | 294 | $145,900,000 | $496,259 |
LTV Distribution
Complaints
| Bank Name | Product | Issue | 2020 CPFB Complaints | % of Total Issues |
|---|---|---|---|---|
| Universal Capital Services, Inc. | Conventional home mortgage | Applying for a mortgage or refinancing an existing mortgage | 2 | 66.7% |
| Universal Capital Services, Inc. | Home equity loan or line of credit (HELOC) | Applying for a mortgage or refinancing an existing mortgage | 1 | 33.3% |