Cyprus Federal Credit Union Mortgage Rates, Fees & Info

West Jordan, UT

LEI: 549300HS714PZ0BMPN11

Tax ID: 87-0127320

Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data

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  • SimulatedRates™
  • Mortgage Calculator

    • Mortgage Data

  • Originations
  • 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 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.

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

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    SimulatedRates™

    Mortgage Type     		Simulated Rate Simulation Date
    30 Year Conventional Purchase 6.39% 12/16/24
    30 Year Conventional Refi 6.28% 12/16/24
    30 Year Cash-out Refi 6.57% 12/16/24
    30 Year FHA Purchase 7.44% 12/16/24
    30 Year FHA Refi 7.77% 12/16/24
    30 Year VA Purchase 5.91% 12/16/24
    15 Year Conventional Purchase 5.59% 12/16/24
    15 Year Conventional Refi 5.90% 12/16/24
    15 Year Cash-out Refi 5.90% 12/16/24
    15 Year FHA Refi 5.68% 12/16/24
    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






    Your Estimates

    Estimated Loan Payment: Update the calculator values and click calculate payment!

    This is not an official calculator from Cyprus Federal Credit Union. It uses our SimulatedRate™ technology, basic math and reasonable assumptions to calculate mortgage payments derived from our simulations and your inputs.

    The default purchase price is the median sales price across the US for 2022Q4, per FRED.


    Originations

    1,848

    Origination Dollar Volume (All Markets)

    $446,190,000
    Show all (7) awards

    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%
    Cyprus Federal Credit Union's top markets include Salt Lake City, Provo, Ogden, Heber, and St. George 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.

    WEBER STATE FEDERAL CREDIT UNION
    Similarity Rank: 329
    State Bank of Southern Utah
    Similarity Rank: 420
    Jordan Federal Credit Union
    Similarity Rank: 430
    BLUE BRICK FINANCIAL LLC
    Similarity Rank: 800
    ADVANTAGE PLUS
    Similarity Rank: 2010
    D. L. Evans Bank
    Similarity Rank: 2030
    HOMEAMERICAN MORTGAGE CORPORATION
    Similarity Rank: 2211
    University First Federal Credit Union
    Similarity Rank: 3096
    PREMIA MORTGAGE, LLC
    Similarity Rank: 3339
    TRANSWEST CREDIT UNION
    Similarity Rank: 3480

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 1,628 $414,890,000 $254,846 $3,391 3.24%
    HELOC 154 $12,010,000 $77,987 n/a 2.78%
    FHA 40 $11,720,000 $293,000 $8,812 2.91%
    VA 26 $7,570,000 $291,154 $3,822 2.83%

    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

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Cash Out Refi 803 $154,475,000 $192,372 $3,332 3.34%
    Refi 752 $202,020,000 $268,644 $2,849 2.94%
    Home Purchase 290 $88,640,000 $305,655 $5,899 3.43%
    Other 3 $1,055,000 $351,667 $0 2.49%

    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

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 1,109 $320,055,000 $288,598 $3,749 3.14%
    10 Year 316 $34,560,000 $109,367 $1,327 3.52%
    15 Year 303 $63,335,000 $209,026 $3,378 3.03%
    20 Year 90 $19,470,000 $216,333 $2,972 2.99%
    Other 20 $6,080,000 $304,000 $3,058 3.24%
    5 Year 8 $1,610,000 $201,250 $4,554 4.61%
    30+ year 2 $1,080,000 $540,000 $11,332 3.44%

    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

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 884 $196,530,000 $222,319
    $1k-2k 372 $92,400,000 $248,387
    $2k-3k 157 $41,665,000 $265,382
    $5k+ 107 $45,925,000 $429,206
    $3k-4k 96 $26,690,000 $278,021
    $4k-5k 69 $20,445,000 $296,304

    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

    Loan Rate Originations Total Value Average Loan
    2.5-3% 762 $201,880,000 $264,934
    3-4% 602 $171,600,000 $285,050
    <2.5% 281 $47,685,000 $169,698
    4-5% 121 $19,575,000 $161,777
    5-6% 62 $4,250,000 $68,548
    6-7% 16 $1,030,000 $64,375
    7-8% 4 $170,000 $42,500

    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

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 933 $263,745,000 $282,685 $3,695 3.11%
    $100k-200k 438 $68,290,000 $155,913 $2,451 2.95%
    $100,000 or less 290 $14,870,000 $51,276 $1,410 3.86%
    $400k-600k 168 $78,230,000 $465,655 $5,221 3.08%
    $600k-1MM 13 $9,745,000 $749,615 $11,789 3.41%
    $1MM+ 6 $11,310,000 $1,885,000 $20,722 3.54%

    2020 saw Cyprus Federal Credit Union place emphasis on $200k-400k loans with 933 originations, totaling $263,745,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 386 $90,330,000 $234,016 $3,358 3.10%
    $100k-150k 335 $104,625,000 $312,313 $3,781 3.05%
    $75k-100k 311 $83,355,000 $268,023 $3,614 3.11%
    $50k or less 185 $33,055,000 $178,676 $2,968 3.11%
    $150k-250k 128 $43,750,000 $341,797 $3,967 3.09%
    $250k+ 49 $26,595,000 $542,755 $5,677 3.23%

    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

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 366 $95,040,000 $259,672 $3,033 2.95%
    30-36% 243 $66,465,000 $273,519 $3,027 3.05%
    <20% 133 $38,495,000 $289,436 $2,646 2.94%
    41% 57 $15,565,000 $273,070 $3,384 3.13%
    39% 52 $14,650,000 $281,731 $3,618 3.07%
    36% 50 $12,800,000 $256,000 $3,417 2.97%
    37% 49 $13,565,000 $276,837 $3,354 3.07%
    42% 48 $13,800,000 $287,500 $3,543 3.08%
    38% 47 $14,215,000 $302,447 $3,673 3.08%
    40% 43 $11,585,000 $269,419 $3,183 3.17%
    44% 37 $10,485,000 $283,378 $3,353 3.21%
    43% 35 $9,365,000 $267,571 $3,504 3.16%
    49% 23 $6,275,000 $272,826 $4,303 2.98%
    46% 21 $5,595,000 $266,429 $3,463 2.90%
    47% 18 $5,310,000 $295,000 $3,989 3.33%
    45% 18 $5,070,000 $281,667 $3,756 3.12%
    48% 11 $2,565,000 $233,182 $4,234 2.99%
    50-60% 10 $2,280,000 $228,000 $6,401 3.27%
    >60% 1 $305,000 $305,000 $0 3.25%

    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

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 1,569 $375,195,000 $239,130 $3,489 3.21%
    Not provided 154 $40,710,000 $264,351 $3,768 3.01%
    Asian 73 $18,755,000 $256,918 $4,125 3.17%
    American Indian 14 $3,390,000 $242,143 $3,177 3.14%
    Native Hawaiian or Islander 11 $2,395,000 $217,727 $3,020 2.86%
    Black 8 $1,940,000 $242,500 $7,041 3.95%
    Not applicable 5 $1,175,000 $235,000 $3,971 2.95%
    Other Asian 3 $925,000 $308,333 $3,311 3.21%
    Chinese 3 $575,000 $191,667 $1,859 2.83%
    Japanese 3 $545,000 $181,667 $1,915 2.79%
    Korean 2 $260,000 $130,000 $1,994 2.75%
    Native Hawaiian 1 $165,000 $165,000 $1,734 3.13%
    Asian Indian 2 $160,000 $80,000 $0 3.87%

    Approval Rates

    Total approvals of all applications
    86.88%

    Cyprus Federal Credit Union has an average approval rate.

    Pick Rate

    Approvals leading to origination
    95.73%

    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

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 91 $16,165,000 $177,637 $2,195 2.83%
    40-60% 359 $85,005,000 $236,783 $2,800 2.88%
    60-80% 574 $169,770,000 $295,767 $3,242 3.08%
    80-100% 221 $70,925,000 $320,928 $4,294 3.15%
    Under 20% 18 $1,200,000 $66,667 $1,755 3.79%