Cu Home Mortgage Solutions Rates, Fees & Info

SEATTLE, WA

LEI: 549300KJONXRDR2YPQ42

Tax ID: 26-9330007

5 stars - Updated: 5/13/24 - out of 5 stars, based on 7 reviews

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

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Mortgage Data

Review & Overview

Cu Home Mortgage Solutions is a smaller mortgage company specializing in Home Purchase loans. Cu Home Mortgage Solutions has a high proportion of conventional loans. Their top markets by origination volume include: Seattle, Olympia, Bremerton, Port Angeles, and Wenatchee among others. We have data for 11 markets. (Some data included below & more in-depth data is available with an active subscription.)

Cu Home Mortgage Solutions has an above average approval rate when compared to the average across all lenders. They have a below average pick rate when compared to similar lenders. Cu Home Mortgage Solutions 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 relatively high 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 6.40% 5/13/24
30 Year Conventional Refi 6.21% 5/13/24
30 Year Cash-out Refi 6.32% 5/13/24
30 Year FHA Purchase 6.27% 5/13/24
30 Year VA Purchase 5.80% 5/13/24
30 Year VA Refi 6.27% 5/13/24
15 Year Conventional Purchase 6.03% 5/13/24
15 Year Conventional Refi 5.77% 5/13/24
15 Year Cash-out Refi 5.77% 5/13/24
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.

Cu Home Mortgage Solutions Mortgage Calculator






Your Estimates

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

This is not an official calculator from Cu Home Mortgage Solutions. 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

54

Origination Dollar Volume (All Markets)

$19,450,000

Awards

CU HOME MORTGAGE SOLUTIONS 30 Year Conventional Loans silver CU HOME MORTGAGE SOLUTIONS 30 Year Conventional Loans bronze CU HOME MORTGAGE SOLUTIONS 30 Year Conventional Loans bronze
Show all (3) awards

Relative Rate

Cu Home Mortgage Solutions's average 30 year fixed mortgage rate was 6.28%.

The 2023 average 30 year fixed rate mortgage across all markets and lenders was 6.48%.

This yields a difference of -0.2%.

Relative Fees (Closing Costs)

Cu Home Mortgage Solutions's average total fees/closing costs for a 30 year fixed rate mortgage were $5,144.

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 $9,089.

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
Seattle-Tacoma-Bellevue, WA (FHA|USDA|VA) 32 $12,250,000 $382,813 $5,340 6.27%
OLYMPIA-LACEY-TUMWATER, WA (FHA|USDA|VA) 8 $2,780,000 $347,500 $4,951 6.27%
Outside of Metro Areas 4 $1,140,000 $285,000 $3,327 6.50%
BREMERTON-SILVERDALE-PORT ORCHARD, WA (FHA|USDA|VA) 2 $810,000 $405,000 $6,801 6.63%
Port Angeles, WA (FHA|USDA|VA) 1 $585,000 $585,000 $3,612 5.63%
WENATCHEE, WA (FHA|USDA|VA) 1 $465,000 $465,000 $6,153 5.13%
Centralia, WA (FHA|USDA|VA) 2 $370,000 $185,000 $3,051 6.94%
Aberdeen, WA (FHA|USDA|VA) 1 $315,000 $315,000 $2,621 6.63%
LONGVIEW, WA (FHA|USDA|VA) 1 $285,000 $285,000 $5,298 6.25%
Shelton, WA (FHA|USDA|VA) 1 $275,000 $275,000 $3,981 6.50%
Moses Lake, WA (FHA|USDA|VA) 1 $175,000 $175,000 $3,812 6.63%
Cu Home Mortgage Solutions's top markets include Seattle, Olympia, Bremerton, Port Angeles, and Wenatchee among others.

Their top states include:
  • Washington (FHA|USDA|VA)
  • (FHA|USDA|VA)
  • Similar Lenders

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

    KITSAP Credit Union
    Similarity Rank: 238
    LO, INC.
    Similarity Rank: 492
    CU HOME MORTGAGE SOLUTIONS, LLC
    Similarity Rank: 693
    TWINSTAR
    Similarity Rank: 957
    MORTGAGE LENDING GROUP LLC
    Similarity Rank: 1408
    East West Bank
    Similarity Rank: 1739
    SOUND
    Similarity Rank: 1782
    America's Credit Union
    Similarity Rank: 1806

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 54 $19,450,000 $360,185 $5,006 6.30%

    For 2023, Cu Home Mortgage Solutions's most frequently originated type of loan was Conventional, with 54 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 34 $13,710,000 $403,235 $5,518 6.10%
    Cash Out Refi 9 $2,855,000 $317,222 $4,993 6.58%
    Refi 6 $1,650,000 $275,000 $3,215 6.54%
    Other 3 $805,000 $268,333 $3,349 6.92%
    Home Improvement 2 $430,000 $215,000 $3,943 7.25%

    For 2023, Cu Home Mortgage Solutions's most frequently cited loan purpose was Home Purchase, with 34 originations. The 2nd most popular reason was Cash Out Refi, with 9 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 50 $18,580,000 $371,600 $5,144 6.28%
    15 Year 3 $665,000 $221,667 $2,746 6.71%
    20 Year 1 $205,000 $205,000 $0 0.00%

    For 2023, Cu Home Mortgage Solutions's most frequently cited loan duration was 30 Year, with 50 originations. The 2nd most popular length was 15 Year, with 3 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 21 $6,485,000 $308,810
    $1k-2k 13 $4,385,000 $337,308
    $2k-3k 7 $2,255,000 $322,143
    $3k-4k 4 $1,810,000 $452,500
    $5k+ 4 $2,610,000 $652,500
    $4k-5k 1 $395,000 $395,000

    Cu Home Mortgage Solutions's average total fees were $5,144, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 21 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    6-7% 32 $10,620,000 $331,875
    5-6% 9 $4,545,000 $505,000
    7-8% 7 $2,145,000 $306,429
    3-4% 2 $1,040,000 $520,000
    4-5% 2 $430,000 $215,000

    During 2023, Cu Home Mortgage Solutions's average interest rate for loans was 6.28%, while their most frequently originated rate bucket for loans was 6-7%, with 32 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 27 $7,945,000 $294,259 $4,324 6.49%
    $400k-600k 14 $6,710,000 $479,286 $5,177 6.18%
    $100k-200k 7 $1,025,000 $146,429 $3,419 6.30%
    $600k-1MM 5 $3,715,000 $743,000 $10,816 5.59%
    $100,000 or less 1 $55,000 $55,000 $2,565 6.63%

    2023 saw Cu Home Mortgage Solutions place emphasis on $200k-400k loans with 27 originations, totaling $7,945,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 22 $7,500,000 $340,909 $4,302 6.72%
    $150k-250k 14 $6,780,000 $484,286 $6,726 6.00%
    $50k-75k 7 $1,555,000 $222,143 $4,377 5.73%
    $75k-100k 7 $1,905,000 $272,143 $3,861 6.34%
    $250k+ 2 $1,410,000 $705,000 $8,628 5.69%
    $50k or less 2 $300,000 $150,000 $2,585 6.75%

    Cu Home Mortgage Solutions lent most frequently to those with incomes in the $100k-150k range, with 22 originations. The second most popular income band? $150k-250k, with 14 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 12 $3,950,000 $329,167 $4,234 6.35%
    30-36% 9 $3,205,000 $356,111 $5,104 6.40%
    49% 6 $2,110,000 $351,667 $5,465 6.63%
    48% 4 $1,490,000 $372,500 $5,028 5.69%
    38% 3 $1,045,000 $348,333 $4,104 6.33%
    37% 3 $1,495,000 $498,333 $5,529 6.33%
    43% 3 $1,485,000 $495,000 $9,116 5.61%
    44% 3 $955,000 $318,333 $6,325 6.88%
    36% 2 $410,000 $205,000 $3,645 6.56%
    47% 2 $1,040,000 $520,000 $4,513 6.50%
    39% 1 $295,000 $295,000 $5,645 5.00%
    40% 1 $165,000 $165,000 $2,539 7.13%
    41% 1 $275,000 $275,000 $2,312 5.88%
    46% 1 $735,000 $735,000 $5,374 5.50%
    45% 1 $125,000 $125,000 $3,256 6.25%

    Cu Home Mortgage Solutions lent most frequently to those with DTI ratios of 20-30%, with 12 originations. The next most common DTI ratio? 30-36%, with 9 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 42 $15,260,000 $363,333 $4,518 6.35%
    Black 6 $2,040,000 $340,000 $6,626 6.73%
    Asian 2 $1,010,000 $505,000 $20,218 3.84%
    Not provided 2 $680,000 $340,000 $3,174 6.00%
    American Indian 2 $460,000 $230,000 $4,382 5.50%

    Approval Rates

    Total approvals of all applications
    93.19%

    Cu Home Mortgage Solutions has an average approval rate.

    Pick Rate

    Approvals leading to origination
    40.74%

    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 54 $19,450,000 $360,185

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    54 $19,450,000 $360,185

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 5 $725,000 $145,000 $3,752 6.13%
    40-60% 12 $3,210,000 $267,500 $4,242 6.25%
    60-80% 21 $7,995,000 $380,714 $4,488 6.52%
    80-100% 13 $6,555,000 $504,231 $7,262 6.04%
    Under 20% 1 $295,000 $295,000 $2,004 6.63%