Cu Home Mortgage Solutions Rates, Fees & Info

SEATTLE, WA

LEI: 549300KJONXRDR2YPQ42

Tax ID: 26-9330007

5 stars - out of 5 stars, based on 25 reviews

2021 Data | 2020 Data | 2019 Data | 2018 Data


Overview

Cu Home Mortgage Solutions is a smaller mortgage company specializing in Refi, Other, and Home Purchase loans. Cu Home Mortgage Solutions has a high proportion of conventional loans. Their top markets include Seattle, Olympia, Bremerton, Portland, and Aberdeen among others. Cu Home Mortgage Solutions 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. Cu Home Mortgage Solutions is typically a low fee lendor.


Originations

631

Origination Dollar Volume (All Markets)

$185,175,000

Awards

CU HOME MORTGAGE SOLUTIONS  30 Year Conventional Loans gold CU HOME MORTGAGE SOLUTIONS  30 Year Conventional Loans gold
Show all (2) awards

Relative Rate

Cu Home Mortgage Solutions 's average 30 year fixed rate mortgage of loans were 3.07%.

The 2021 average 30 year fixed rate mortgage across all markets of loans were 3.15%.

This yields a difference of -0.08%.

Relative Fees

Cu Home Mortgage Solutions 's average total fees for a 30 year fixed rate mortgage are $3,265.

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
Outside of Metro Areas 402 $118,770,000 $295,448 $3,005 2.97%
Seattle-Tacoma-Bellevue, WA (FHA|USDA|VA) 185 $54,225,000 $293,108 $2,676 2.82%
OLYMPIA-LACEY-TUMWATER, WA (FHA|USDA|VA) 19 $5,015,000 $263,947 $3,337 2.91%
BREMERTON-SILVERDALE-PORT ORCHARD, WA (FHA|USDA|VA) 7 $2,835,000 $405,000 $7,165 2.77%
PORTLAND-VANCOUVER-HILLSBORO, OR-WA (FHA|USDA|VA) 3 $875,000 $291,667 $2,626 2.92%
Aberdeen, WA (FHA|USDA|VA) 3 $705,000 $235,000 $3,179 2.67%
MOUNT VERNON-ANACORTES, WA (FHA|USDA|VA) 3 $615,000 $205,000 $2,598 3.25%
BELLINGHAM, WA (FHA|USDA|VA) 1 $455,000 $455,000 $3,594 2.75%
Oak Harbor, WA (FHA|USDA|VA) 1 $415,000 $415,000 $3,777 2.63%
SPOKANE-SPOKANE VALLEY, WA (FHA|USDA|VA) 2 $370,000 $185,000 $1,829 2.81%
BEND, OR (FHA|USDA|VA) 1 $275,000 $275,000 $6,109 2.63%
Shelton, WA (FHA|USDA|VA) 2 $250,000 $125,000 $2,129 2.63%
Newport, OR (FHA|USDA|VA) 1 $195,000 $195,000 $3,712 3.50%
Moses Lake, WA (FHA|USDA|VA) 1 $175,000 $175,000 $2,790 2.88%

Cu Home Mortgage Solutions 's top markets include Seattle, Olympia, Bremerton, Portland, and Aberdeen among others.

Product Mix

Loan Type Originations Total Value Average Loan Average Fees Average Rate
Conventional 599 $174,875,000 $291,945 $2,818 2.94%
VA 32 $10,300,000 $321,875 $5,660 2.57%

For the 2021 period, Cu Home Mortgage Solutions 's most frequently originated loan type of loans were Conventional, with 599 originations. Their 2nd most popular type is VA, with 32 originations.

Loan Reason

Loan Reason Originations Total Value Average Loan Average Fees Average Rate
Refi 218 $54,790,000 $251,330 $2,482 2.78%
Other 200 $55,980,000 $279,900 $3,083 3.01%
Home Purchase 103 $40,145,000 $389,757 $3,955 2.98%
Home Improvement 83 $26,045,000 $313,795 $2,716 2.97%
Cash Out Refi 27 $8,215,000 $304,259 $2,916 3.05%

For the 2021, Cu Home Mortgage Solutions 's most frequently cited loan purpose of loans were Refi, with 218 originations. The 2nd most popular reason of loans were Other, with 200 originations.

Loan Duration/Length

Loan Length Originations Total Value Average Loan Average Fees Average Rate
30 Year 418 $136,930,000 $327,584 $3,265 3.07%
15 Year 125 $27,935,000 $223,480 $2,391 2.55%
20 Year 64 $15,890,000 $248,281 $2,412 2.86%
10 Year 24 $4,420,000 $184,167 $2,147 2.45%

For the 2021, Cu Home Mortgage Solutions 's most frequently cited loan length of loans were 30 Year, with 418 originations. The 2nd most popular length of loans were 15 Year, with 125 originations.

Origination Fees

Origination Fee Originations Total Value Average Loan
$<1k 464 $128,410,000 $276,746
$1k-2k 105 $31,925,000 $304,048
$2k-3k 24 $9,900,000 $412,500
$3k-4k 17 $5,865,000 $345,000
$5k+ 17 $7,985,000 $469,706

$3,265 of loans were Cu Home Mortgage Solutions 's average total fees, while their most frequently occuring range of origination fees were in the $<1k bucket, with 464 originations.

Interest Rates

Loan Rate Originations Total Value Average Loan
2.5-3% 253 $71,655,000 $283,221
3-4% 231 $73,905,000 $319,935
<2.5% 140 $36,810,000 $262,929
4-5% 5 $2,455,000 $491,000

During 2021, Cu Home Mortgage Solutions 's average interest rate of loans were 3.07%, while their most frequently originated rate bucket of loans were 2.5-3%, with 253 originations.

Loan Sizing

Loan Size Originations Total Value Average Loan Average Fees Average Rate
$200k-400k 307 $88,585,000 $288,550 $2,928 2.93%
$100k-200k 173 $27,085,000 $156,561 $2,218 2.86%
$400k-600k 101 $48,095,000 $476,188 $3,944 2.99%
$100,000 or less 25 $1,955,000 $78,200 $2,114 2.74%
$600k-1MM 23 $16,695,000 $725,870 $5,314 3.14%
$1MM+ 2 $2,760,000 $1,380,000 $6,416 3.19%

2021 saw Cu Home Mortgage Solutions place emphasis on $200k-400k loans with 307 originations, totaling $88,585,000 in origination value.

Applicant Income

Applicant Income Originations Total Value Average Loan Average Fees Average Rate
$100k-150k 174 $55,330,000 $317,989 $3,178 2.91%
$75k-100k 146 $38,140,000 $261,233 $2,695 2.89%
$50k-75k 128 $29,540,000 $230,781 $2,635 2.96%
$150k-250k 95 $38,755,000 $407,947 $3,591 2.95%
$50k or less 62 $9,670,000 $155,968 $2,196 2.92%
$250k+ 26 $13,740,000 $528,462 $4,174 2.89%

Cu Home Mortgage Solutions lent most frequently to those with incomes in the $100k-150k range, with 174 originations. The second most popular income band? $75k-100k, with 146 originations.

Applicant Debt to Income Ratio

DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
20-30% 154 $43,440,000 $282,078 $2,754 2.88%
30-36% 130 $37,590,000 $289,154 $2,688 2.86%
<20% 70 $17,690,000 $252,714 $2,635 2.76%
41% 37 $12,235,000 $330,676 $2,972 3.07%
44% 27 $7,105,000 $263,148 $2,725 3.10%
40% 26 $7,960,000 $306,154 $3,415 3.17%
39% 26 $8,270,000 $318,077 $4,999 2.94%
43% 23 $7,695,000 $334,565 $3,280 3.18%
42% 22 $9,000,000 $409,091 $3,250 3.07%
37% 19 $6,185,000 $325,526 $3,053 2.71%
36% 17 $4,825,000 $283,824 $3,099 2.85%
38% 15 $4,165,000 $277,667 $3,533 3.01%
45% 15 $4,055,000 $270,333 $2,722 3.08%
46% 14 $4,010,000 $286,429 $3,177 3.08%
47% 11 $2,735,000 $248,636 $3,705 2.95%
48% 10 $2,870,000 $287,000 $2,779 2.93%
50-60% 7 $2,175,000 $310,714 $3,243 2.50%
49% 6 $2,470,000 $411,667 $2,675 3.17%
>60% 1 $465,000 $465,000 $2,867 3.13%

Cu Home Mortgage Solutions lent most frequently to those with DTI ratios of 20-30%, with 154 originations. The next most common DTI ratio? 30-36%, with 130 originations.

Ethnicity Mix

Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
White 447 $133,255,000 $298,110 $3,002 2.91%
Not provided 63 $18,805,000 $298,492 $2,743 3.00%
Asian 48 $14,370,000 $299,375 $2,842 2.84%
Black 50 $14,020,000 $280,400 $3,095 3.06%
Native Hawaiian 8 $2,020,000 $252,500 $2,601 2.78%
American Indian 9 $1,575,000 $175,000 $2,855 2.97%
Not applicable 6 $1,130,000 $188,333 $2,879 2.92%

Approval Rates

Total approvals of all applications
86.48%

Cu Home Mortgage Solutions has an average approval rate.

Pick Rate

Approvals leading to origination
64.47%

Cu Home Mortgage Solutions 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 631 $185,175,000 $293,463

Occupancy Type Mix

Dwelling Type Originations Total Value Average Loan
631 $185,175,000 $293,463

LTV Distribution

Loan to Value Originations Total Value Average Loan Average Fees Average Rate
20-40% 118 $21,970,000 $186,186 $2,261 2.78%
40-60% 231 $60,375,000 $261,364 $2,606 2.84%
60-80% 187 $67,665,000 $361,845 $3,270 3.09%
80-100% 76 $32,310,000 $425,132 $4,136 3.02%
Over 100% 2 $830,000 $415,000 $21,342 2.56%
Under 20% 16 $1,790,000 $111,875 $1,857 2.66%