The United Federal Credit Union Mortgage Rates, Fees & Info

Morgantown, WV

LEI: 549300QBU5SUXWZAXV90

Tax ID: 52-0985554

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

Jump to:

  • 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

    The United Federal Credit Union is a smaller credit union specializing in Cash Out Refi and Home Purchase loans. The United Federal Credit Union has a high proportion of conventional loans. Their top markets by origination volume include: Morgantown, Pittsburgh, Fairmont, Clarksburg, and Weirton among others. We have data for 6 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. They have an above average pick rate when compared to similar 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 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.

    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% 11/22/24
    30 Year Conventional Refi 5.59% 11/22/24
    30 Year Cash-out Refi 5.74% 11/22/24
    15 Year Conventional Purchase 5.71% 11/22/24
    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

    75

    Origination Dollar Volume (All Markets)

    $8,775,000

    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
    MORGANTOWN, WV (FHA|USDA|VA) 41 $5,135,000 $125,244 $1,161 4.51%
    PITTSBURGH, PA (FHA|USDA|VA) 21 $2,025,000 $96,429 $2,236 4.95%
    Outside of Metro Areas 7 $935,000 $133,571 $1,151 4.52%
    Fairmont, WV (FHA|USDA|VA) 3 $325,000 $108,333 $963 4.58%
    Clarksburg, WV (FHA|USDA|VA) 1 $225,000 $225,000 $1,663 3.50%
    WEIRTON-STEUBENVILLE, WV-OH (FHA|USDA|VA) 2 $130,000 $65,000 $850 5.50%
    The United Federal Credit Union's top markets include Morgantown, Pittsburgh, Fairmont, Clarksburg, and Weirton 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.

    First Federal Savings and Loan Association of Greene Co
    Similarity Rank: 64
    City National Bank of West Virginia
    Similarity Rank: 76
    Clear Mountain Bank
    Similarity Rank: 180
    United Bank
    Similarity Rank: 816
    NVR Mortgage Finance, Inc.
    Similarity Rank: 1152
    WesBanco
    Similarity Rank: 1360
    Home Savings Bank
    Similarity Rank: 1560
    Mortgage Research Center, LLC
    Similarity Rank: 1804
    Potomac Mortgage Group, Inc.
    Similarity Rank: 2080
    Truist
    Similarity Rank: 7220

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 75 $8,775,000 $117,000 $1,449 4.65%

    For 2018, The United Federal Credit Union's most frequently originated type of loan was Conventional, with 75 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Cash Out Refi 35 $3,945,000 $112,714 $1,404 4.82%
    Home Purchase 20 $2,570,000 $128,500 $1,672 4.43%
    Refi 12 $1,500,000 $125,000 $1,667 4.63%
    Home Improvement 8 $760,000 $95,000 $842 4.50%

    For 2018, The United Federal Credit Union's most frequently cited loan purpose was Cash Out Refi, with 35 originations. The 2nd most popular reason was Home Purchase, with 20 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 23 $2,805,000 $121,957 $1,598 4.91%
    15 Year 14 $1,190,000 $85,000 $1,324 4.26%
    20 Year 14 $1,890,000 $135,000 $1,697 4.66%
    10 Year 12 $780,000 $65,000 $956 4.40%
    30 Year 10 $2,080,000 $208,000 $1,703 4.90%
    5 Year 2 $30,000 $15,000 $463 4.58%

    For 2018, The United Federal Credit Union's most frequently cited loan duration was Other, with 23 originations. The 2nd most popular length was 15 Year, with 14 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 50 $4,430,000 $88,600
    $1k-2k 22 $4,050,000 $184,091

    The United Federal Credit Union's average total fees were $1,703, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 50 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    4-5% 37 $3,465,000 $93,649
    3-4% 18 $2,900,000 $161,111
    5-6% 13 $1,345,000 $103,462
    6-7% 3 $495,000 $165,000
    7-8% 3 $395,000 $131,667
    2.5-3% 1 $175,000 $175,000

    During 2018, The United Federal Credit Union's average interest rate for loans was 4.90%, while their most frequently originated rate bucket for loans was 4-5%, with 37 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 36 $1,770,000 $49,167 $873 4.76%
    $100k-200k 28 $4,020,000 $143,571 $1,967 4.50%
    $200k-400k 11 $2,985,000 $271,364 $1,958 4.67%

    2018 saw The United Federal Credit Union place emphasis on $100,000 or less loans with 36 originations, totaling $1,770,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k or less 18 $1,250,000 $69,444 $1,201 4.67%
    $100k-150k 16 $2,180,000 $136,250 $1,110 5.02%
    $75k-100k 14 $1,730,000 $123,571 $1,701 4.64%
    $50k-75k 12 $1,200,000 $100,000 $1,868 4.61%
    $150k-250k 9 $1,735,000 $192,778 $1,736 4.38%
    $250k+ 3 $385,000 $128,333 $1,033 4.47%

    The United Federal Credit Union lent most frequently to those with incomes in the $50k or less range, with 18 originations. The second most popular income band? $100k-150k, with 16 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 20 $2,530,000 $126,500 $1,511 4.49%
    30-36% 14 $1,770,000 $126,429 $1,424 4.58%
    <20% 13 $1,285,000 $98,846 $1,344 4.35%
    40% 4 $680,000 $170,000 $1,700 5.38%
    36% 3 $195,000 $65,000 $321 4.08%
    37% 3 $565,000 $188,333 $2,310 5.50%
    50-60% 2 $360,000 $180,000 $357 5.00%
    41% 2 $230,000 $115,000 $1,176 5.38%
    43% 2 $190,000 $95,000 $3,571 5.63%
    44% 2 $100,000 $50,000 $936 6.25%
    48% 2 $120,000 $60,000 $1,082 5.13%
    49% 1 $45,000 $45,000 $2,764 3.75%
    39% 1 $15,000 $15,000 $715 4.25%
    45% 1 $225,000 $225,000 $1,663 3.50%
    42% 1 $95,000 $95,000 $462 6.25%
    38% 1 $75,000 $75,000 $2,162 4.25%

    The United Federal Credit Union lent most frequently to those with DTI ratios of 20-30%, with 20 originations. The next most common DTI ratio? 30-36%, with 14 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 73 $8,545,000 $117,055 $1,434 4.61%
    Native Hawaiian or Islander 1 $155,000 $155,000 $2,445 4.50%
    Black 1 $75,000 $75,000 $1,500 7.50%

    Approval Rates

    Total approvals of all applications
    97.56%

    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
    96.00%

    The United 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 75 $8,775,000 $117,000

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Single Family (1-4 Units):Manufactured 2 $130,000 $65,000
    Single Family (1-4 Units):Site-Built 73 $8,645,000 $118,425

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 4 $260,000 $65,000 $1,009 4.31%
    40-60% 11 $1,035,000 $94,091 $1,122 4.39%
    60-80% 28 $4,200,000 $150,000 $1,826 4.61%
    80-100% 18 $2,790,000 $155,000 $1,852 4.77%
    Under 20% 14 $490,000 $35,000 $531 4.87%