Cyprus Federal Credit Union Mortgage Rates, Fees & Info
West Jordan, UTLEI: 549300HS714PZ0BMPN11
Tax ID: 87-0127320
2021 Data | 2020 Data | 2019 Data | 2018 Data
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Mortgage Data
Overview
Cyprus Federal Credit Union is a smaller credit union specializing in Cash Out Refi, Refi, and Home Purchase loans. Cyprus Federal Credit Union has a high proportion of conventional loans. They have a a low proportion of FHA loans. (This may mean they shy away from first time homebuyers.) They have a low ratio of USDA loans. Their top markets include Salt Lake City, Provo, Ogden, Heber, and Logan among others. Cyprus Federal Credit Union has an average approval rate for mortages when compared nationally. They have a below average pick rate when compared to the same sample of other lendors. Cyprus Federal Credit Union is typically an average fee lendor.Originations
1,249Origination Dollar Volume (All Markets)
$350,535,000Awards
CYPRUS Federal Credit Union - 2021
CYPRUS Federal Credit Union is a 2021 , due to their low .
For 2021, less than of lenders were eligible for this award.
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Relative Rate
Cyprus Federal Credit Union's average 30 year fixed rate mortgage of loans were
3.11%.
The 2021 average 30 year fixed rate mortgage across all markets of loans were 3.15%.
This yields a difference of -0.04%.
Relative Fees
Cyprus Federal Credit Union's average total fees for a 30 year fixed rate
mortgage are $4,057.
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 |
|---|---|---|---|---|---|
| SALT LAKE CITY, UT (FHA|USDA|VA) | 918 | $248,650,000 | $270,861 | $3,365 | 3.08% |
| PROVO-OREM, UT (FHA|USDA|VA) | 146 | $47,810,000 | $327,466 | $4,412 | 3.27% |
| OGDEN-CLEARFIELD, UT (FHA|USDA|VA) | 85 | $20,915,000 | $246,059 | $3,433 | 3.35% |
| Heber, UT (FHA|USDA|VA) | 20 | $9,720,000 | $486,000 | $3,505 | 3.13% |
| LOGAN, UT-ID (FHA|USDA|VA) | 19 | $8,355,000 | $439,737 | $6,133 | 3.51% |
| Outside of Metro Areas | 27 | $6,595,000 | $244,259 | $4,197 | 3.78% |
| ST. GEORGE, UT (FHA|USDA|VA) | 14 | $3,790,000 | $270,714 | $2,564 | 2.97% |
| Cedar City, UT (FHA|USDA|VA) | 11 | $2,885,000 | $262,273 | $3,345 | 3.38% |
| Vernal, UT (FHA|USDA|VA) | 4 | $1,070,000 | $267,500 | $8,980 | 3.53% |
| Price, UT (FHA|USDA|VA) | 5 | $745,000 | $149,000 | $3,543 | 3.40% |
Cyprus Federal Credit Union's top markets include Salt Lake City, Provo, Ogden, Heber, and Logan among others.
Product Mix
| Loan Type | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Conventional | 1,193 | $331,035,000 | $277,481 | $3,263 | 3.16% |
| FHA | 41 | $13,945,000 | $340,122 | $10,347 | 2.79% |
| VA | 13 | $4,905,000 | $377,308 | $6,787 | 2.58% |
| USDA | 2 | $650,000 | $325,000 | $6,585 | 2.56% |
For the 2021 period, Cyprus Federal Credit Union's most frequently originated loan type of loans were Conventional, with 1,193 originations. Their 2nd most popular type is FHA, with 41 originations.
Loan Reason
| Loan Reason | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Cash Out Refi | 549 | $141,455,000 | $257,659 | $2,994 | 3.25% |
| Refi | 428 | $117,280,000 | $274,019 | $2,842 | 2.84% |
| Home Purchase | 264 | $90,410,000 | $342,462 | $6,153 | 3.37% |
| Other | 7 | $865,000 | $123,571 | $2,438 | 4.94% |
| Home Improvement | 1 | $525,000 | $525,000 | $0 | 3.00% |
For the 2021, Cyprus Federal Credit Union's most frequently cited loan purpose of loans were Cash Out Refi, with 549 originations. The 2nd most popular reason of loans were Refi, with 428 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| 30 Year | 797 | $249,625,000 | $313,206 | $4,057 | 3.11% |
| 15 Year | 241 | $50,235,000 | $208,444 | $3,009 | 3.23% |
| 10 Year | 144 | $31,750,000 | $220,486 | $1,774 | 3.31% |
| 20 Year | 48 | $12,240,000 | $255,000 | $2,891 | 2.76% |
| Other | 12 | $3,040,000 | $253,333 | $2,367 | 2.72% |
| 30+ year | 5 | $3,295,000 | $659,000 | $12,980 | 3.30% |
| 5 Year | 2 | $350,000 | $175,000 | $4,080 | 4.49% |
For the 2021, Cyprus Federal Credit Union's most frequently cited loan length of loans were 30 Year, with 797 originations. The 2nd most popular length of loans were 15 Year, with 241 originations.
Origination Fees
| Origination Fee | Originations | Total Value | Average Loan |
|---|---|---|---|
| $<1k | 688 | $156,830,000 | $227,951 |
| $1k-2k | 229 | $65,315,000 | $285,218 |
| $5k+ | 115 | $61,485,000 | $534,652 |
| $2k-3k | 109 | $33,735,000 | $309,495 |
| $3k-4k | 99 | $30,545,000 | $308,535 |
$4,057 of loans were Cyprus Federal Credit Union's average total fees, while their most frequently occuring range of origination fees were in the $<1k bucket, with 688 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 2.5-3% | 537 | $150,345,000 | $279,972 |
| 3-4% | 361 | $138,285,000 | $383,061 |
| <2.5% | 214 | $45,440,000 | $212,336 |
| 4-5% | 85 | $13,365,000 | $157,235 |
| 5-6% | 41 | $2,545,000 | $62,073 |
| 7-8% | 8 | $450,000 | $56,250 |
| 6-7% | 3 | $105,000 | $35,000 |
During 2021, Cyprus Federal Credit Union's average interest rate of loans were 3.11%, while their most frequently originated rate bucket of loans were 2.5-3%, with 537 originations.
Loan Sizing
| Loan Size | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| $200k-400k | 640 | $183,110,000 | $286,109 | $3,799 | 3.03% |
| $100k-200k | 256 | $39,750,000 | $155,273 | $2,040 | 2.88% |
| $400k-600k | 159 | $75,185,000 | $472,862 | $5,857 | 3.12% |
| $100,000 or less | 152 | $8,430,000 | $55,461 | $458 | 4.08% |
| $600k-1MM | 30 | $21,410,000 | $713,667 | $5,627 | 3.19% |
| $1MM+ | 12 | $22,650,000 | $1,887,500 | $20,156 | 3.44% |
2021 saw Cyprus Federal Credit Union place emphasis on $200k-400k loans with 640 originations, totaling $183,110,000 in origination value.
Applicant Income
| Applicant Income | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| $50k-75k | 291 | $71,475,000 | $245,619 | $3,480 | 3.08% |
| $100k-150k | 254 | $77,900,000 | $306,693 | $3,590 | 3.25% |
| $75k-100k | 248 | $69,830,000 | $281,573 | $4,186 | 3.14% |
| $50k or less | 141 | $26,355,000 | $186,915 | $2,769 | 3.03% |
| $150k-250k | 119 | $42,525,000 | $357,353 | $4,077 | 3.34% |
| $250k+ | 40 | $19,180,000 | $479,500 | $5,556 | 3.64% |
Cyprus Federal Credit Union lent most frequently to those with incomes in the $50k-75k range, with 291 originations. The second most popular income band? $100k-150k, with 254 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| 20-30% | 244 | $65,380,000 | $267,951 | $2,953 | 3.01% |
| 30-36% | 214 | $58,450,000 | $273,131 | $3,350 | 3.25% |
| <20% | 77 | $19,175,000 | $249,026 | $3,095 | 2.91% |
| 42% | 56 | $18,140,000 | $323,929 | $4,015 | 3.28% |
| 41% | 52 | $15,170,000 | $291,731 | $3,111 | 3.18% |
| 38% | 50 | $14,850,000 | $297,000 | $3,959 | 3.01% |
| 44% | 46 | $13,060,000 | $283,913 | $4,092 | 3.36% |
| 39% | 45 | $15,095,000 | $335,444 | $4,452 | 3.15% |
| 40% | 44 | $12,440,000 | $282,727 | $3,772 | 3.21% |
| 43% | 42 | $12,090,000 | $287,857 | $3,882 | 3.09% |
| 37% | 41 | $12,845,000 | $313,293 | $3,392 | 3.25% |
| 36% | 37 | $9,765,000 | $263,919 | $3,584 | 3.22% |
| 49% | 24 | $7,190,000 | $299,583 | $4,233 | 3.05% |
| 50-60% | 22 | $5,000,000 | $227,273 | $5,858 | 3.73% |
| 45% | 18 | $5,150,000 | $286,111 | $3,380 | 3.32% |
| 48% | 17 | $5,115,000 | $300,882 | $3,179 | 3.02% |
| 46% | 15 | $4,025,000 | $268,333 | $3,411 | 3.55% |
| 47% | 9 | $2,295,000 | $255,000 | $3,429 | 2.90% |
Cyprus Federal Credit Union lent most frequently to those with DTI ratios of 20-30%, with 244 originations. The next most common DTI ratio? 30-36%, with 214 originations.
Ethnicity Mix
| Applicant Ethnicity | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| White | 1,022 | $271,280,000 | $265,440 | $3,286 | 3.15% |
| Not provided | 114 | $32,890,000 | $288,509 | $3,802 | 3.10% |
| Asian | 61 | $18,235,000 | $298,934 | $4,342 | 2.96% |
| Not applicable | 11 | $17,665,000 | $1,605,909 | $17,981 | 3.75% |
| American Indian | 12 | $2,760,000 | $230,000 | $3,476 | 2.94% |
| Black | 10 | $2,700,000 | $270,000 | $5,756 | 3.69% |
| Native Hawaiian | 10 | $2,550,000 | $255,000 | $3,038 | 3.61% |
| 3 | $955,000 | $318,333 | $4,627 | 3.29% | |
| Other Asian | 3 | $785,000 | $261,667 | $5,565 | 3.04% |
| Asian Indian | 2 | $430,000 | $215,000 | $5,481 | 3.25% |
| Samoan | 1 | $285,000 | $285,000 | $7,583 | 2.38% |
Approval Rates
Total approvals of all applications87.77%
Cyprus Federal Credit Union has an average approval rate.
Pick Rate
Approvals leading to origination77.65%
Cyprus Federal Credit Union has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| 0.0 | 2 | $60,000 | $30,000 |
| NA | 1,247 | $350,475,000 | $281,055 |
Occupancy Type Mix
| Dwelling Type | Originations | Total Value | Average Loan |
|---|---|---|---|
| 1,249 | $350,535,000 | $280,653 |
LTV Distribution
| Loan to Value | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| 20-40% | 104 | $18,160,000 | $174,615 | $2,254 | 2.77% |
| 40-60% | 256 | $70,800,000 | $276,563 | $3,185 | 2.82% |
| 60-80% | 389 | $135,225,000 | $347,622 | $3,824 | 3.09% |
| 80-100% | 218 | $82,600,000 | $378,899 | $6,195 | 3.21% |
| Under 20% | 96 | $5,670,000 | $59,063 | $236 | 4.59% |
