Credit Union Of America Mortgage Rates, Fees & Info
Wichita, KSLEI: 549300RRQHIHHM9I4K21
Tax ID: 48-0477295
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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.) They have a low ratio of USDA loans. Their top markets by origination volume include: Wichita, Great Bend, Hutchinson, Kansas City, and Salina among others. We have data for 18 markets. (Some data included below & more in-depth data is available with an active subscription.)Credit Union Of America has an 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 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.
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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| Home Equity Line of Credit (HELOC) | 6.73% | 4/28/24 |
| 30 Year Conventional Purchase | 6.64% | 4/28/24 |
| 30 Year Conventional Refi | 6.28% | 4/28/24 |
| 30 Year Cash-out Refi | 6.42% | 4/28/24 |
| 30 Year FHA Purchase | 7.33% | 4/28/24 |
| 30 Year FHA Refi | 7.50% | 4/28/24 |
| 30 Year VA Purchase | 6.51% | 4/28/24 |
| 30 Year VA Refi | 6.27% | 4/28/24 |
| 30 Year USDA Purchase | 4.86% | 4/28/24 |
| 15 Year Conventional Purchase | 6.21% | 4/28/24 |
| 15 Year Conventional Refi | 6.09% | 4/28/24 |
| 15 Year Cash-out Refi | 6.09% | 4/28/24 |
| 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
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
1,492Origination Dollar Volume (All Markets)
$148,910,000Awards
CREDIT UNION OF AMERICA - 2019
CREDIT UNION OF AMERICA is a 2019 , due to their low .
For 2019, less than of lenders were eligible for this award.
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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) | 1,091 | $119,065,000 | $109,134 | $1,858 | 4.06% |
| Outside of Metro Areas | 195 | $10,175,000 | $52,179 | $2,013 | 4.14% |
| Great Bend, KS (FHA|USDA|VA) | 113 | $8,255,000 | $73,053 | $1,962 | 4.16% |
| Hutchinson, KS (FHA|USDA|VA) | 38 | $3,340,000 | $87,895 | $1,724 | 4.06% |
| KANSAS CITY, MO-KS (FHA|USDA|VA) | 15 | $3,255,000 | $217,000 | $1,847 | 3.97% |
| Salina, KS (FHA|USDA|VA) | 16 | $1,440,000 | $90,000 | $1,947 | 4.01% |
| TULSA, OK (FHA|USDA|VA) | 4 | $1,340,000 | $335,000 | $2,743 | 3.81% |
| MANHATTAN, KS (FHA|USDA|VA) | 4 | $650,000 | $162,500 | $1,630 | 4.09% |
| Pittsburg, KS (FHA|USDA|VA) | 1 | $265,000 | $265,000 | $2,683 | 4.50% |
| Winfield, KS (FHA|USDA|VA) | 5 | $255,000 | $51,000 | $2,201 | 3.90% |
| SPRINGFIELD, MO (FHA|USDA|VA) | 1 | $225,000 | $225,000 | $1,283 | 4.00% |
| Garden City, KS (FHA|USDA|VA) | 1 | $185,000 | $185,000 | $1,384 | 4.88% |
| Branson, MO (FHA|USDA|VA) | 1 | $115,000 | $115,000 | $2,589 | 3.75% |
| OKLAHOMA CITY, OK (FHA|USDA|VA) | 1 | $105,000 | $105,000 | $2,690 | 3.63% |
| Emporia, KS (FHA|USDA|VA) | 1 | $105,000 | $105,000 | $1,326 | 4.25% |
| McPherson, KS (FHA|USDA|VA) | 3 | $75,000 | $25,000 | $0 | 3.92% |
| Coffeyville, KS (FHA|USDA|VA) | 1 | $45,000 | $45,000 | $2,374 | 4.25% |
| TOPEKA, KS (FHA|USDA|VA) | 1 | $15,000 | $15,000 | $0 | 3.88% |
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.
Similarity Rank: 90
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Similarity Rank: 416
Product Mix
For 2019, Credit Union Of America's most frequently originated type of loan was Conventional, with 861 originations. Their 2nd most popular type was HELOC, with 623 originations.
Loan Reason
For 2019, Credit Union Of America's most frequently cited loan purpose was Other, with 656 originations. The 2nd most popular reason was Home Purchase, with 581 originations.
Loan Duration/Length
For 2019, Credit Union Of America's most frequently cited loan duration was Other, with 624 originations. The 2nd most popular length was 30 Year, with 604 originations.
Origination Fees/Closing Costs
Credit Union Of America's average total fees were $1,902, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 773 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 4-5% | 728 | $68,120,000 | $93,571 |
| 3-4% | 719 | $75,025,000 | $104,346 |
| 5-6% | 39 | $4,225,000 | $108,333 |
| 2.5-3% | 5 | $1,485,000 | $297,000 |
| 6-7% | 1 | $55,000 | $55,000 |
During 2019, Credit Union Of America's average interest rate for loans was 4.21%, while their most frequently originated rate bucket for loans was 4-5%, with 728 originations.
Loan Sizing
2019 saw Credit Union Of America place emphasis on $100,000 or less loans with 882 originations, totaling $39,590,000 in origination value.
Applicant Income
Credit Union Of America lent most frequently to those with incomes in the $50k-75k range, with 401 originations. The second most popular income band? $50k or less, with 371 originations.
Applicant Debt to Income Ratio
Credit Union Of America lent most frequently to those with DTI ratios of 20-30%, with 367 originations. The next most common DTI ratio? 30-36%, with 315 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications81.26%
Credit Union Of America has a below average approval rate.
Pick Rate
Approvals leading to origination82.37%
Credit Union Of America has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| 100.0 | 1 | $15,000 | $15,000 |
| 1000.0 | 1 | $105,000 | $105,000 |
| 110.0 | 1 | $15,000 | $15,000 |
| 120.0 | 1 | $15,000 | $15,000 |
| 138.05 | 1 | $55,000 | $55,000 |
| 149.06 | 1 | $55,000 | $55,000 |
| 150.0 | 3 | $45,000 | $15,000 |
| 154.0 | 1 | $15,000 | $15,000 |
| 160.0 | 1 | $15,000 | $15,000 |
| 170.0 | 1 | $15,000 | $15,000 |
| 175.0 | 1 | $15,000 | $15,000 |
| 180.0 | 2 | $90,000 | $45,000 |
| 190.0 | 1 | $15,000 | $15,000 |
| 200.0 | 5 | $105,000 | $21,000 |
| 225.0 | 2 | $120,000 | $60,000 |
| 230.0 | 2 | $120,000 | $60,000 |
| 240.0 | 1 | $25,000 | $25,000 |
| 250.0 | 6 | $150,000 | $25,000 |
| 268.13 | 1 | $105,000 | $105,000 |
| 298.13 | 1 | $115,000 | $115,000 |
| 300.0 | 5 | $175,000 | $35,000 |
| 309.38 | 1 | $125,000 | $125,000 |
| 324.0 | 1 | $65,000 | $65,000 |
| 330.0 | 2 | $70,000 | $35,000 |
| 340.0 | 1 | $135,000 | $135,000 |
| 343.43 | 1 | $135,000 | $135,000 |
| 346.0 | 1 | $35,000 | $35,000 |
| 370.0 | 1 | $35,000 | $35,000 |
| 390.0 | 1 | $155,000 | $155,000 |
| 395.0 | 1 | $155,000 | $155,000 |
| 400.0 | 1 | $45,000 | $45,000 |
| 410.0 | 1 | $45,000 | $45,000 |
| 450.0 | 2 | $90,000 | $45,000 |
| 452.0 | 1 | $45,000 | $45,000 |
| 460.0 | 1 | $45,000 | $45,000 |
| 462.5 | 1 | $185,000 | $185,000 |
| 468.75 | 1 | $185,000 | $185,000 |
| 487.5 | 1 | $195,000 | $195,000 |
| 500.0 | 7 | $385,000 | $55,000 |
| 550.0 | 1 | $55,000 | $55,000 |
| 580.0 | 1 | $55,000 | $55,000 |
| 600.0 | 2 | $130,000 | $65,000 |
| 605.0 | 1 | $245,000 | $245,000 |
| 650.0 | 4 | $260,000 | $65,000 |
| 70.0 | 1 | $45,000 | $45,000 |
| 700.0 | 1 | $75,000 | $75,000 |
| 940.0 | 1 | $95,000 | $95,000 |
| 94.25 | 1 | $35,000 | $35,000 |
| NA | 1,414 | $144,400,000 | $102,122 |
Occupancy Type Mix
| Dwelling Type | Originations | Total Value | Average Loan |
|---|---|---|---|
| Single Family (1-4 Units):Manufactured | 8 | $780,000 | $97,500 |
| Single Family (1-4 Units):Site-Built | 1,484 | $148,130,000 | $99,818 |
LTV Distribution
Complaints
| Bank Name | Product | Issue | 2019 CPFB Complaints | % of Total Issues |
|---|---|---|---|---|
| Credit Plus Inc | Conventional home mortgage | Applying for a mortgage or refinancing an existing mortgage | 2 | 66.7% |
| Credit Plus Inc | Conventional home mortgage | Improper use of your report | 1 | 33.3% |