The United Federal Credit Union Mortgage Rates, Fees & Info

Morgantown, WV

LEI: 549300QBU5SUXWZAXV90

Tax ID: 52-0985554

5 stars - Updated: 3/27/24 - out of 5 stars, based on 5 reviews

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

Jump to:

Mortgage Data

Review & Overview

The United Federal Credit Union is a smaller credit union specializing in Cash Out Refi and Other loans. The United Federal Credit Union has a high proportion of conventional loans. Their top markets by origination volume include: Elkins, Morgantown, Pittsburgh, Fairmont, and Clarksburg among others. We have data for 5 markets. (Some data included below & more in-depth data is available with an active subscription.)

The United Federal Credit Union has an above average approval rate when compared to the average across all lenders. The United 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 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 6.18% 3/27/24
30 Year Conventional Refi 5.59% 3/27/24
30 Year Cash-out Refi 5.74% 3/27/24
15 Year Conventional Purchase 5.71% 3/27/24
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.

The United 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 The United 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

29

Origination Dollar Volume (All Markets)

$4,115,000

Relative Rate

The United Federal Credit Union's average 30 year fixed mortgage rate was 5.5%.

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

This yields a difference of -0.98%.

Relative Fees (Closing Costs)

The United Federal Credit Union's average total fees/closing costs for a 30 year fixed rate mortgage were $2,299.

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
Elkins, WV (FHA|USDA|VA) 7 $1,895,000 $270,714 $2,508 4.61%
MORGANTOWN, WV (FHA|USDA|VA) 16 $1,510,000 $94,375 $1,479 6.91%
PITTSBURGH, PA (FHA|USDA|VA) 4 $490,000 $122,500 $2,025 7.63%
Fairmont, WV (FHA|USDA|VA) 1 $155,000 $155,000 $2,000 7.25%
Clarksburg, WV (FHA|USDA|VA) 1 $65,000 $65,000 $1,204 4.75%
The United Federal Credit Union's top markets include Elkins, Morgantown, Pittsburgh, Fairmont, and Clarksburg among others.

Their top states include:
  • West Virginia (FHA|USDA|VA)
  • Pennsylvania (FHA|USDA|VA)
  • Similar Lenders

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

    FAIRMONT
    Similarity Rank: 12
    Clear Mountain Bank
    Similarity Rank: 440
    United Bank
    Similarity Rank: 1144
    NVR Mortgage Finance, Inc.
    Similarity Rank: 1320
    First Federal Bank of the Midwest
    Similarity Rank: 1455
    Mortgage Research Center, LLC
    Similarity Rank: 1836
    WesBanco
    Similarity Rank: 2318
    INTERCOASTAL MORTGAGE COMPANY
    Similarity Rank: 2337

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 29 $4,115,000 $141,897 $1,836 6.39%

    For 2023, The United Federal Credit Union's most frequently originated type of loan was Conventional, with 29 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Cash Out Refi 17 $1,745,000 $102,647 $1,550 6.54%
    Home Purchase 6 $780,000 $130,000 $2,240 7.46%
    Other 6 $1,590,000 $265,000 $2,376 4.88%

    For 2023, The United Federal Credit Union's most frequently cited loan purpose was Cash Out Refi, with 17 originations. The 2nd most popular reason was Home Purchase, with 6 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    15 Year 9 $955,000 $106,111 $1,445 7.06%
    20 Year 7 $1,055,000 $150,714 $2,347 6.32%
    30 Year 5 $1,405,000 $281,000 $2,299 5.50%
    Other 5 $555,000 $111,000 $1,483 6.20%
    3 Year 1 $45,000 $45,000 $1,204 5.25%
    5 Year 1 $65,000 $65,000 $1,503 6.50%
    10 Year 1 $35,000 $35,000 $0 7.25%

    For 2023, The United Federal Credit Union's most frequently cited loan duration was 15 Year, with 9 originations. The 2nd most popular length was 20 Year, with 7 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $1k-2k 14 $1,810,000 $129,286
    $<1k 13 $1,265,000 $97,308
    $2k-3k 2 $1,040,000 $520,000

    The United Federal Credit Union's average total fees were $2,299, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 14 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    7-8% 10 $1,430,000 $143,000
    6-7% 5 $255,000 $51,000
    3-4% 5 $1,385,000 $277,000
    5-6% 4 $460,000 $115,000
    Over 8% 3 $215,000 $71,667
    2.5-3% 1 $305,000 $305,000
    4-5% 1 $65,000 $65,000

    During 2023, The United Federal Credit Union's average interest rate for loans was 5.50%, while their most frequently originated rate bucket for loans was 7-8%, with 10 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 12 $630,000 $52,500 $1,365 6.79%
    $100k-200k 11 $1,545,000 $140,455 $2,021 6.45%
    $200k-400k 5 $1,205,000 $241,000 $2,056 5.75%
    $600k-1MM 1 $735,000 $735,000 $4,047 4.00%

    2023 saw The United Federal Credit Union place emphasis on $100,000 or less loans with 12 originations, totaling $630,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $150k-250k 9 $1,125,000 $125,000 $1,455 6.03%
    $250k+ 6 $1,540,000 $256,667 $2,177 6.08%
    $75k-100k 5 $555,000 $111,000 $2,245 7.40%
    $100k-150k 4 $590,000 $147,500 $1,976 7.00%
    $50k-75k 4 $290,000 $72,500 $1,683 5.75%
    $50k or less 1 $15,000 $15,000 $454 6.50%

    The United Federal Credit Union lent most frequently to those with incomes in the $150k-250k range, with 9 originations. The second most popular income band? $250k+, with 6 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    <20% 13 $1,935,000 $148,846 $1,822 6.25%
    20-30% 9 $955,000 $106,111 $1,649 7.03%
    30-36% 4 $590,000 $147,500 $1,914 5.81%
    37% 1 $305,000 $305,000 $3,300 3.00%
    38% 1 $175,000 $175,000 $0 7.25%
    50-60% 1 $155,000 $155,000 $2,000 7.25%

    The United Federal Credit Union lent most frequently to those with DTI ratios of <20%, with 13 originations. The next most common DTI ratio? 20-30%, with 9 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 26 $3,560,000 $136,923 $1,826 6.51%
    American Indian 2 $380,000 $190,000 $2,177 4.00%
    Black 1 $175,000 $175,000 $1,390 8.00%

    Approval Rates

    Total approvals of all applications
    100.00%

    The United Federal Credit Union has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.

    Pick Rate

    Approvals leading to origination

    Points and Fees

    Points Originations Total Value Average Loan
    NA 29 $4,115,000 $141,897

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    29 $4,115,000 $141,897

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 7 $555,000 $79,286 $1,673 6.46%
    40-60% 1 $75,000 $75,000 $1,140 7.50%
    60-80% 7 $1,565,000 $223,571 $2,455 6.57%
    80-100% 7 $1,195,000 $170,714 $2,099 6.18%
    Under 20% 7 $725,000 $103,571 $1,215 6.18%