Cyprus Federal Credit Union Mortgage Rates, Fees & Info

West Jordan, UT

LEI: 549300HS714PZ0BMPN11

Tax ID: 87-0127320

5 stars - out of 5 stars, based on 35 reviews

Latest/2021 | 2020 Data | 2019 Data | 2018 Data

Jump to:

Mortgage Data

  • SimulatedRates™
  • Originations
  • Relative Rates
  • Relative Fees
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • Similar Lenders
  • Loan Length
  • Loan to Value Info
  • Debt-to-Income
  • Applicant Income
  • Ethnicity Info
  • Approval & Pick Rates
  • Points and Fees
  • Origination Fees (Closing Costs)

    • Review & 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 by origination volume include: Salt Lake City, Provo, Ogden, Heber, and Logan among others. We have data for 10 markets. (Some data included below & more in-depth data is available with an active subscription.)

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

    Mortgage seekers: Choose your metro area here to explore the lowest fee & rate lenders.

    Mortgage professionals: We have various tools to make your lives easier. Contact us to see how we can help with your market research, analytics or advertising needs.


    SimulatedRates™

    Mortgage Type     		Simulated Rate Simulation Date
    30 Year Conventional Purchase 6.81% 3/19/23
    30 Year Conventional Refi 6.39% 3/19/23
    30 Year Cash-out Refi 6.52% 3/19/23
    30 Year FHA Purchase 7.17% 3/19/23
    30 Year FHA Refi 6.58% 3/19/23
    30 Year VA Purchase 6.18% 3/19/23
    30 Year VA Refi 5.82% 3/19/23
    30 Year USDA Purchase 6.57% 3/19/23
    15 Year Conventional Purchase 5.95% 3/19/23
    15 Year Conventional Refi 6.12% 3/19/23
    15 Year Cash-out Refi 6.12% 3/19/23
    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.


    Originations

    1,249

    Origination Dollar Volume (All Markets)

    $350,535,000

    Awards

    CYPRUS Federal Credit Union 30 Year Conventional Loans gold CYPRUS Federal Credit Union 30 Year Conventional Loans bronze CYPRUS Federal Credit Union FHA Loans bronze
    Show all (3) awards

    Relative Rate

    Cyprus Federal Credit Union's average 30 year fixed mortgage rate was 3.11%.

    The 2021 average 30 year fixed rate mortgage across all markets and lenders was 3.15%.

    This yields a difference of -0.04%.

    Relative Fees (Closing Costs)

    Cyprus Federal Credit Union's average total fees/closing costs for a 30 year fixed rate mortgage were $4,057.

    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 $4,750.

    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
    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.

    Their top states include:
  • Utah (FHA|USDA|VA)

    • Similar Lenders

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

    HORIZON UTAH Federal Credit Union
    Similarity Rank: 350
    WEBER STATE FEDERAL CREDIT UNION
    Similarity Rank: 384
    State Bank of Southern Utah
    Similarity Rank: 432
    Jordan Federal Credit Union
    Similarity Rank: 980
    TRANSWEST CREDIT UNION
    Similarity Rank: 1160
    Central Bank
    Similarity Rank: 1379
    Hercules First Federal Credit Union
    Similarity Rank: 1610
    ADVANTAGE PLUS
    Similarity Rank: 2100
    D. L. Evans Bank
    Similarity Rank: 2640
    HOMEAMERICAN MORTGAGE CORPORATION
    Similarity Rank: 2812

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. 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 2021, Cyprus Federal Credit Union's most frequently originated type of loan was Conventional, with 1,193 originations. Their 2nd most popular type was FHA, with 41 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. 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 2021, Cyprus Federal Credit Union's most frequently cited loan purpose was Cash Out Refi, with 549 originations. The 2nd most popular reason was 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 2021, Cyprus Federal Credit Union's most frequently cited loan duration was 30 Year, with 797 originations. The 2nd most popular length was 15 Year, with 241 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost 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
    $4k-5k 52 $17,280,000 $332,308
    $3k-4k 47 $13,265,000 $282,234

    Cyprus Federal Credit Union's average total fees were $4,057, while their most frequently occuring range of origination fees (closing costs) 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 for loans was 3.11%, while their most frequently originated rate bucket for loans was 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 or Islander 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 applications
    87.24%

    Cyprus Federal Credit Union has an average approval rate.

    Pick Rate

    Approvals leading to origination
    62.85%

    Cyprus Federal 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
    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%