Credit Union Of America Mortgage Rates, Fees & Info

Wichita, KS

LEI: 549300RRQHIHHM9I4K21

Tax ID: 48-0477295

5 stars - Updated: 3/28/24 - out of 5 stars, based on 30 reviews

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

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Mortgage Data

Review & Overview

Credit Union Of America is a smaller credit union specializing in Home Purchase loans. Credit Union Of America has a high proportion of conventional loans. They have a a low proportion of FHA loans. (This may mean they shy away from first time homebuyers.) Their top markets by origination volume include: Wichita, Great Bend, Hutchinson, Winfield, and Tulsa among others. We have data for 16 markets. (Some data included below & more in-depth data is available with an active subscription.)

Credit Union Of America has a below average approval rate when compared to the average across all lenders. They have a below average pick rate when compared to similar lenders. Credit Union Of America 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
Home Equity Line of Credit (HELOC) 6.73% 3/28/24
30 Year Conventional Purchase 6.64% 3/28/24
30 Year Conventional Refi 6.28% 3/28/24
30 Year Cash-out Refi 6.42% 3/28/24
30 Year FHA Purchase 7.33% 3/28/24
30 Year FHA Refi 7.50% 3/28/24
30 Year VA Purchase 6.51% 3/28/24
30 Year VA Refi 6.27% 3/28/24
30 Year USDA Purchase 4.86% 3/28/24
15 Year Conventional Purchase 6.21% 3/28/24
15 Year Conventional Refi 6.09% 3/28/24
15 Year Cash-out Refi 6.09% 3/28/24
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.

Credit Union Of America Mortgage Calculator






Your Estimates

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

This is not an official calculator from Credit Union Of America. 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

924

Origination Dollar Volume (All Markets)

$103,900,000
Show all (6) awards

Relative Rate

Credit Union Of America's average 30 year fixed mortgage rate was 6.44%.

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

This yields a difference of -0.04%.

Relative Fees (Closing Costs)

Credit Union Of America's average total fees/closing costs for a 30 year fixed rate mortgage were $3,974.

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
WICHITA, KS (FHA|USDA|VA) 767 $89,125,000 $116,199 $3,962 7.66%
Outside of Metro Areas 53 $4,135,000 $78,019 $3,043 7.57%
Great Bend, KS (FHA|USDA|VA) 44 $3,330,000 $75,682 $2,925 7.76%
Hutchinson, KS (FHA|USDA|VA) 28 $2,380,000 $85,000 $2,862 7.96%
Winfield, KS (FHA|USDA|VA) 6 $1,540,000 $256,667 $4,285 7.19%
TULSA, OK (FHA|USDA|VA) 2 $810,000 $405,000 $7,368 5.63%
KANSAS CITY, MO-KS (FHA|USDA|VA) 3 $705,000 $235,000 $5,436 5.83%
TOPEKA, KS (FHA|USDA|VA) 4 $390,000 $97,500 $3,010 7.34%
MANHATTAN, KS (FHA|USDA|VA) 4 $340,000 $85,000 $1,885 8.28%
LAWRENCE, KS (FHA|USDA|VA) 2 $330,000 $165,000 $3,810 5.94%
Salina, KS (FHA|USDA|VA) 6 $320,000 $53,333 $2,471 7.54%
Chicago-Naperville-Elgin, IL-IN-WI (FHA|USDA|VA) 1 $275,000 $275,000 $4,276 7.00%
JEFFERSON CITY, MO (FHA|USDA|VA) 1 $135,000 $135,000 $2,404 7.63%
Pittsburg, KS (FHA|USDA|VA) 1 $35,000 $35,000 $0 7.50%
Hays, KS (FHA|USDA|VA) 1 $25,000 $25,000 $0 9.00%
Dodge City, KS (FHA|USDA|VA) 1 $25,000 $25,000 $0 8.25%
Credit Union Of America's top markets include Wichita, Great Bend, Hutchinson, Winfield, and Tulsa among others.

Their top states include:
  • Kansas (FHA|USDA|VA)
  • Oklahoma (FHA|USDA|VA)
  • Missouri (FHA|USDA|VA)
  • Illinois (FHA|USDA|VA)
  • Similar Lenders

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

    PANHANDLE FEDERAL CREDIT UNION
    Similarity Rank: 6
    HOME BANK AND TRUST COMPANY
    Similarity Rank: 60
    GOLDEN PLAINS
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    MAINSTREET FEDERAL CREDIT UNION
    Similarity Rank: 280
    Intrust Bank
    Similarity Rank: 315
    MID AMERICAN
    Similarity Rank: 341
    Emprise Bank
    Similarity Rank: 361
    Wichita Federal Credit Union
    Similarity Rank: 413
    MERITRUST Federal Credit Union
    Similarity Rank: 494
    HNB National Bank
    Similarity Rank: 495

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    HELOC 519 $23,615,000 $45,501 n/a 8.58%
    Conventional 375 $74,455,000 $198,547 $3,644 6.46%
    FHA 24 $3,990,000 $166,250 $6,003 6.49%
    VA 6 $1,840,000 $306,667 $6,052 6.77%

    For 2023, Credit Union Of America's most frequently originated type of loan was HELOC, with 519 originations. Their 2nd most popular type was Conventional, with 375 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 373 $75,135,000 $201,434 $3,883 6.54%
    Home Improvement 237 $9,885,000 $41,709 $0 8.54%
    Other 168 $6,800,000 $40,476 $0 8.67%
    Refi 128 $10,120,000 $79,063 $3,410 8.06%
    Cash Out Refi 18 $1,960,000 $108,889 $3,107 6.60%

    For 2023, Credit Union Of America's most frequently cited loan purpose was Home Purchase, with 373 originations. The 2nd most popular reason was Home Improvement, with 237 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 519 $23,615,000 $45,501 $0 8.58%
    30 Year 359 $75,565,000 $210,487 $3,974 6.44%
    15 Year 19 $1,665,000 $87,632 $2,698 6.39%
    10 Year 13 $1,115,000 $85,769 $1,628 7.16%
    20 Year 13 $1,765,000 $135,769 $2,803 6.76%
    5 Year 1 $175,000 $175,000 $0 6.50%

    For 2023, Credit Union Of America's most frequently cited loan duration was Other, with 519 originations. The 2nd most popular length was 30 Year, with 359 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 173 $30,275,000 $175,000
    $1k-2k 89 $13,065,000 $146,798
    $2k-3k 68 $12,380,000 $182,059
    $3k-4k 33 $9,555,000 $289,545
    $4k-5k 18 $6,530,000 $362,778
    $5k+ 15 $7,365,000 $491,000

    Credit Union Of America's average total fees were $3,974, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 173 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    Over 8% 449 $21,525,000 $47,940
    6-7% 189 $35,215,000 $186,323
    7-8% 164 $18,720,000 $114,146
    5-6% 101 $23,475,000 $232,426
    4-5% 21 $4,965,000 $236,429

    During 2023, Credit Union Of America's average interest rate for loans was 6.44%, while their most frequently originated rate bucket for loans was Over 8%, with 449 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 561 $24,605,000 $43,859 $2,551 8.37%
    $100k-200k 201 $29,495,000 $146,741 $3,360 6.73%
    $200k-400k 135 $35,365,000 $261,963 $4,310 6.37%
    $400k-600k 20 $9,390,000 $469,500 $7,382 5.89%
    $600k-1MM 7 $5,045,000 $720,714 $7,489 6.18%

    2023 saw Credit Union Of America place emphasis on $100,000 or less loans with 561 originations, totaling $24,605,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 246 $31,840,000 $129,431 $4,177 7.66%
    $50k-75k 211 $18,215,000 $86,327 $3,511 7.57%
    $75k-100k 172 $17,600,000 $102,326 $3,473 7.68%
    $150k-250k 146 $19,100,000 $130,822 $4,672 7.97%
    $50k or less 114 $7,980,000 $70,000 $2,774 7.49%
    $250k+ 31 $8,725,000 $281,452 $6,256 7.35%

    Credit Union Of America lent most frequently to those with incomes in the $100k-150k range, with 246 originations. The second most popular income band? $50k-75k, with 211 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 212 $21,010,000 $99,104 $3,497 7.76%
    30-36% 204 $24,530,000 $120,245 $3,638 7.62%
    <20% 82 $5,570,000 $67,927 $3,671 7.81%
    50-60% 43 $3,895,000 $90,581 $5,731 7.84%
    43% 41 $6,425,000 $156,707 $4,677 7.05%
    36% 39 $4,845,000 $124,231 $3,572 7.53%
    41% 36 $4,650,000 $129,167 $3,975 7.66%
    44% 35 $5,675,000 $162,143 $4,805 7.52%
    39% 31 $3,515,000 $113,387 $3,878 7.87%
    42% 29 $4,175,000 $143,966 $3,699 6.91%
    40% 26 $3,020,000 $116,154 $3,912 7.52%
    37% 26 $3,370,000 $129,615 $3,344 7.51%
    45% 25 $2,935,000 $117,400 $4,209 7.91%
    46% 24 $2,280,000 $95,000 $4,866 7.90%
    48% 22 $3,040,000 $138,182 $3,050 7.88%
    38% 20 $1,380,000 $69,000 $2,955 8.19%
    47% 15 $1,815,000 $121,000 $3,125 7.50%
    49% 10 $1,330,000 $133,000 $3,600 7.60%

    Credit Union Of America lent most frequently to those with DTI ratios of 20-30%, with 212 originations. The next most common DTI ratio? 30-36%, with 204 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 755 $80,515,000 $106,642 $3,770 7.72%
    Not provided 97 $14,745,000 $152,010 $3,747 7.02%
    Black 44 $5,050,000 $114,773 $4,394 7.99%
    Asian 20 $2,210,000 $110,500 $5,805 7.78%
    American Indian 3 $625,000 $208,333 $4,329 7.17%
    Not applicable 4 $440,000 $110,000 $0 6.38%
    Native Hawaiian or Islander 1 $315,000 $315,000 $5,483 6.50%

    Approval Rates

    Total approvals of all applications
    68.61%

    Credit Union Of America has a low approval rate. They may have poor market targeting or stringent lending standards.

    Pick Rate

    Approvals leading to origination
    62.34%

    Credit Union Of America 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 924 $103,900,000 $112,446

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    924 $103,900,000 $112,446

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 226 $12,310,000 $54,469 $2,716 8.40%
    40-60% 72 $6,000,000 $83,333 $2,906 7.78%
    60-80% 122 $19,030,000 $155,984 $3,793 6.98%
    80-100% 268 $58,370,000 $217,799 $3,944 6.47%
    Over 100% 2 $580,000 $290,000 $9,419 6.94%
    Under 20% 234 $7,610,000 $32,521 $2,076 8.62%