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 Refi loans. The United Federal Credit Union has a high proportion of conventional loans. Their top markets by origination volume include: Morgantown, Elkins, Pittsburgh, and Fairmont 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 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 6.18% 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

    73

    Origination Dollar Volume (All Markets)

    $9,815,000

    Awards

    The United Federal Credit Union 30 Year Conventional Loans gold The United Federal Credit Union 30 Year Conventional Loans gold
    Show all (2) 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
    MORGANTOWN, WV (FHA|USDA|VA) 47 $7,435,000 $158,191 $1,271 4.45%
    Elkins, WV (FHA|USDA|VA) 6 $1,010,000 $168,333 $2,709 4.34%
    PITTSBURGH, PA (FHA|USDA|VA) 13 $865,000 $66,538 $1,876 5.06%
    Outside of Metro Areas 5 $385,000 $77,000 $970 4.70%
    Fairmont, WV (FHA|USDA|VA) 2 $120,000 $60,000 $1,606 4.50%
    The United Federal Credit Union's top markets include Morgantown, Elkins, Pittsburgh, and Fairmont 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: 30
    The United Federal Credit Union
    Similarity Rank: 60
    City National Bank of West Virginia
    Similarity Rank: 195
    Clear Mountain Bank
    Similarity Rank: 616
    United Bank
    Similarity Rank: 854
    NVR Mortgage Finance, Inc.
    Similarity Rank: 1092
    WesBanco
    Similarity Rank: 2450
    Home Savings Bank
    Similarity Rank: 2550
    Potomac Mortgage Group, Inc.
    Similarity Rank: 3051
    Mortgage Research Center, LLC
    Similarity Rank: 4600

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 67 $9,465,000 $141,269 $1,481 4.55%
    HELOC 6 $350,000 $58,333 n/a 0.00%

    For 2019, The United Federal Credit Union's most frequently originated type of loan was Conventional, with 67 originations. Their 2nd most popular type was HELOC, with 6 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Cash Out Refi 38 $4,860,000 $127,895 $1,443 4.68%
    Home Purchase 15 $1,775,000 $118,333 $1,934 4.72%
    Refi 12 $2,850,000 $237,500 $1,208 3.62%
    Home Improvement 8 $330,000 $41,250 $925 5.50%

    For 2019, The United Federal Credit Union's most frequently cited loan purpose was Cash Out Refi, with 38 originations. The 2nd most popular reason was Home Purchase, with 15 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    15 Year 25 $2,155,000 $86,200 $1,440 4.53%
    Other 21 $2,755,000 $131,190 $1,522 4.47%
    30 Year 16 $4,050,000 $253,125 $1,444 4.48%
    10 Year 7 $325,000 $46,429 $1,310 4.96%
    20 Year 4 $530,000 $132,500 $2,011 4.56%

    For 2019, The United Federal Credit Union's most frequently cited loan duration was 15 Year, with 25 originations. The 2nd most popular length was Other, with 21 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 52 $7,210,000 $138,654
    $1k-2k 14 $2,220,000 $158,571

    The United Federal Credit Union's average total fees were $1,444, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 52 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    4-5% 32 $3,900,000 $121,875
    3-4% 20 $3,790,000 $189,500
    6-7% 8 $540,000 $67,500
    5-6% 4 $210,000 $52,500
    2.5-3% 2 $870,000 $435,000
    <2.5% 1 $155,000 $155,000

    During 2019, The United Federal Credit Union's average interest rate for loans was 4.48%, while their most frequently originated rate bucket for loans was 4-5%, with 32 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 37 $1,925,000 $52,027 $1,365 4.89%
    $100k-200k 19 $2,425,000 $127,632 $1,450 4.46%
    $200k-400k 14 $3,850,000 $275,000 $1,709 4.06%
    $400k-600k 2 $850,000 $425,000 $2,366 3.94%
    $600k-1MM 1 $765,000 $765,000 $750 3.00%

    2019 saw The United Federal Credit Union place emphasis on $100,000 or less loans with 37 originations, totaling $1,925,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 20 $2,700,000 $135,000 $1,389 4.41%
    $50k or less 16 $1,290,000 $80,625 $1,571 4.58%
    $75k-100k 12 $2,250,000 $187,500 $1,578 4.93%
    $50k-75k 11 $845,000 $76,818 $1,432 4.89%
    $150k-250k 7 $715,000 $102,143 $1,434 4.25%
    $250k+ 4 $1,740,000 $435,000 $1,746 3.84%

    The United Federal Credit Union lent most frequently to those with incomes in the $100k-150k range, with 20 originations. The second most popular income band? $50k or less, with 16 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    <20% 16 $2,720,000 $170,000 $1,400 4.10%
    20-30% 14 $2,550,000 $182,143 $1,634 4.49%
    30-36% 13 $1,075,000 $82,692 $1,258 5.14%
    41% 3 $175,000 $58,333 $1,030 4.75%
    36% 3 $415,000 $138,333 $1,000 3.88%
    50-60% 2 $360,000 $180,000 $1,819 4.20%
    44% 2 $340,000 $170,000 $2,586 4.88%
    45% 2 $140,000 $70,000 $1,250 5.00%
    48% 2 $160,000 $80,000 $3,168 4.25%
    47% 1 $55,000 $55,000 $2,625 6.75%
    39% 1 $275,000 $275,000 $1,700 5.00%
    40% 1 $395,000 $395,000 $3,472 4.00%
    38% 1 $135,000 $135,000 $3,388 7.00%
    43% 1 $35,000 $35,000 $1,900 4.25%

    The United Federal Credit Union lent most frequently to those with DTI ratios of <20%, with 16 originations. The next most common DTI ratio? 20-30%, with 14 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 71 $9,645,000 $135,845 $1,480 4.54%
    Not applicable 2 $170,000 $85,000 $1,500 5.50%

    Approval Rates

    Total approvals of all applications
    98.65%

    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 73 $9,815,000 $134,452

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Single Family (1-4 Units):Manufactured 3 $385,000 $128,333
    Single Family (1-4 Units):Site-Built 70 $9,430,000 $134,714

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 9 $605,000 $67,222 $1,454 4.96%
    40-60% 13 $1,085,000 $83,462 $1,386 4.91%
    60-80% 25 $3,885,000 $155,400 $1,836 4.48%
    80-100% 17 $3,985,000 $234,412 $1,196 4.06%
    Under 20% 9 $255,000 $28,333 $1,001 4.96%