Cyprus Federal Credit Union Mortgage Rates, Fees & Info
West Jordan, UTLEI: 549300HS714PZ0BMPN11
Tax ID: 87-0127320
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Mortgage Data
Review & Overview
Cyprus Federal Credit Union is a smaller credit union specializing in Cash Out Refi and Refi 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.) Their top markets by origination volume include: Salt Lake City, Provo, Ogden, Heber, and St. George 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 an above average pick rate when compared to similar lenders. Cyprus Federal 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 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 |
|---|---|---|
| 30 Year Conventional Purchase | 6.39% | 4/21/24 |
| 30 Year Conventional Refi | 6.28% | 4/21/24 |
| 30 Year Cash-out Refi | 6.57% | 4/21/24 |
| 30 Year FHA Purchase | 7.44% | 4/21/24 |
| 30 Year FHA Refi | 7.77% | 4/21/24 |
| 30 Year VA Purchase | 5.91% | 4/21/24 |
| 15 Year Conventional Purchase | 5.59% | 4/21/24 |
| 15 Year Conventional Refi | 5.90% | 4/21/24 |
| 15 Year Cash-out Refi | 5.90% | 4/21/24 |
| 15 Year FHA Refi | 5.68% | 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. | ||
Cyprus Federal Credit Union Mortgage Calculator
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
1,848Origination Dollar Volume (All Markets)
$446,190,000Awards
CYPRUS Federal Credit Union - 2020
CYPRUS Federal Credit Union is a 2020 , due to their low .
For 2020, less than of lenders were eligible for this award.
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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) | 1,330 | $308,590,000 | $232,023 | $3,340 | 3.18% |
| PROVO-OREM, UT (FHA|USDA|VA) | 256 | $68,800,000 | $268,750 | $4,084 | 3.25% |
| OGDEN-CLEARFIELD, UT (FHA|USDA|VA) | 130 | $35,090,000 | $269,923 | $4,389 | 3.20% |
| Outside of Metro Areas | 66 | $13,900,000 | $210,606 | $3,056 | 3.21% |
| Heber, UT (FHA|USDA|VA) | 26 | $9,520,000 | $366,154 | $5,653 | 2.88% |
| ST. GEORGE, UT (FHA|USDA|VA) | 25 | $7,125,000 | $285,000 | $2,700 | 3.10% |
| LOGAN, UT-ID (FHA|USDA|VA) | 8 | $2,240,000 | $280,000 | $5,117 | 3.28% |
| Price, UT (FHA|USDA|VA) | 3 | $435,000 | $145,000 | $3,614 | 3.37% |
| Cedar City, UT (FHA|USDA|VA) | 3 | $335,000 | $111,667 | $4,083 | 4.16% |
| Vernal, UT (FHA|USDA|VA) | 1 | $155,000 | $155,000 | $2,231 | 3.38% |
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.
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Product Mix
For 2020, Cyprus Federal Credit Union's most frequently originated type of loan was Conventional, with 1,628 originations. Their 2nd most popular type was HELOC, with 154 originations.
Loan Reason
For 2020, Cyprus Federal Credit Union's most frequently cited loan purpose was Cash Out Refi, with 803 originations. The 2nd most popular reason was Refi, with 752 originations.
Loan Duration/Length
For 2020, Cyprus Federal Credit Union's most frequently cited loan duration was 30 Year, with 1,109 originations. The 2nd most popular length was 10 Year, with 316 originations.
Origination Fees/Closing Costs
Cyprus Federal Credit Union's average total fees were $3,749, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 884 originations.
Interest Rates
During 2020, Cyprus Federal Credit Union's average interest rate for loans was 3.14%, while their most frequently originated rate bucket for loans was 2.5-3%, with 762 originations.
Loan Sizing
2020 saw Cyprus Federal Credit Union place emphasis on $200k-400k loans with 933 originations, totaling $263,745,000 in origination value.
Applicant Income
Cyprus Federal Credit Union lent most frequently to those with incomes in the $50k-75k range, with 386 originations. The second most popular income band? $100k-150k, with 335 originations.
Applicant Debt to Income Ratio
Cyprus Federal Credit Union lent most frequently to those with DTI ratios of 20-30%, with 366 originations. The next most common DTI ratio? 30-36%, with 243 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications86.88%
Cyprus Federal Credit Union has an average approval rate.
Pick Rate
Approvals leading to origination95.73%
Cyprus Federal Credit Union has an exceptionally high pick rate. They most likely have borrower friendly terms or other characteristics like being fast to close or are easy to work with.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 1,848 | $446,190,000 | $241,445 |
Occupancy Type Mix
| Dwelling Type | Originations | Total Value | Average Loan |
|---|---|---|---|
| Multifamily:Site-Built | 6 | $8,990,000 | $1,498,333 |
| Single Family (1-4 Units):Site-Built | 1,842 | $437,200,000 | $237,351 |