Credit Union Of America Mortgage Rates, Fees & Info

Wichita, KS

LEI: 549300RRQHIHHM9I4K21

Tax ID: 48-0477295

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

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  • SimulatedRates™
  • Mortgage Calculator

    • Mortgage Data

  • Originations
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • Complaints
  • 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

    Credit Union Of America is a smaller credit union specializing in Home Purchase and Refi 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, Salina, and Kansas City among others. We have data for 21 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.

    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% 10/29/24
    30 Year Conventional Purchase 6.64% 10/29/24
    30 Year Conventional Refi 6.28% 10/29/24
    30 Year Cash-out Refi 6.42% 10/29/24
    30 Year FHA Purchase 7.33% 10/29/24
    30 Year FHA Refi 7.50% 10/29/24
    30 Year VA Purchase 6.51% 10/29/24
    30 Year VA Refi 6.27% 10/29/24
    30 Year USDA Purchase 4.86% 10/29/24
    15 Year Conventional Purchase 6.21% 10/29/24
    15 Year Conventional Refi 6.09% 10/29/24
    15 Year Cash-out Refi 6.09% 10/29/24
    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

    2,177

    Origination Dollar Volume (All Markets)

    $257,145,000
    Show all (6) 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
    WICHITA, KS (FHA|USDA|VA) 1,187 $187,815,000 $158,227 $2,006 3.18%
    Outside of Metro Areas 780 $40,090,000 $51,397 $2,013 3.76%
    Great Bend, KS (FHA|USDA|VA) 71 $9,045,000 $127,394 $1,965 3.24%
    Hutchinson, KS (FHA|USDA|VA) 72 $8,520,000 $118,333 $1,688 3.20%
    Salina, KS (FHA|USDA|VA) 21 $3,535,000 $168,333 $1,945 3.31%
    KANSAS CITY, MO-KS (FHA|USDA|VA) 16 $3,370,000 $210,625 $2,078 3.20%
    Winfield, KS (FHA|USDA|VA) 6 $820,000 $136,667 $1,822 3.06%
    OKLAHOMA CITY, OK (FHA|USDA|VA) 4 $740,000 $185,000 $2,610 3.25%
    MANHATTAN, KS (FHA|USDA|VA) 3 $605,000 $201,667 $1,850 2.96%
    JOPLIN, MO (FHA|USDA|VA) 2 $460,000 $230,000 $1,243 3.13%
    McPherson, KS (FHA|USDA|VA) 4 $450,000 $112,500 $2,330 3.31%
    TOPEKA, KS (FHA|USDA|VA) 2 $270,000 $135,000 $2,145 3.19%
    Pittsburg, KS (FHA|USDA|VA) 1 $265,000 $265,000 $2,183 2.88%
    ST. LOUIS, MO-IL (FHA|USDA|VA) 1 $225,000 $225,000 $2,322 3.38%
    Dodge City, KS (FHA|USDA|VA) 1 $185,000 $185,000 $2,288 3.13%
    TULSA, OK (FHA|USDA|VA) 1 $175,000 $175,000 $2,546 2.88%
    Liberal, KS (FHA|USDA|VA) 1 $155,000 $155,000 $2,084 3.75%
    Hays, KS (FHA|USDA|VA) 1 $135,000 $135,000 $2,091 3.00%
    Branson, MO (FHA|USDA|VA) 1 $115,000 $115,000 $1,655 3.00%
    Ponca City, OK (FHA|USDA|VA) 1 $105,000 $105,000 $4,869 3.00%
    Emporia, KS (FHA|USDA|VA) 1 $65,000 $65,000 $1,854 3.00%
    Credit Union Of America's top markets include Wichita, Great Bend, Hutchinson, Salina, and Kansas City among others.

    Their top states include:
  • Kansas (FHA|USDA|VA)
  • Missouri (FHA|USDA|VA)
  • Oklahoma (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.

    GOLDEN PLAINS
    Similarity Rank: 114
    SKYWARD
    Similarity Rank: 189
    HNB National Bank
    Similarity Rank: 195
    Wichita Federal Credit Union
    Similarity Rank: 340
    Azura Credit Union
    Similarity Rank: 380
    HOME BANK AND TRUST COMPANY
    Similarity Rank: 432
    FRONTIER COMMUNITY CREDIT UNION
    Similarity Rank: 553
    MAINSTREET FEDERAL CREDIT UNION
    Similarity Rank: 592
    Citizens Savings and Loan Association, FSB
    Similarity Rank: 652
    Members Mortgage Services, L.L.C.
    Similarity Rank: 693

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 1,462 $225,400,000 $154,172 $1,974 3.18%
    HELOC 696 $28,660,000 $41,178 n/a 3.84%
    FHA 10 $1,700,000 $170,000 $4,250 3.38%
    VA 6 $1,100,000 $183,333 $2,274 3.29%
    USDA 3 $285,000 $95,000 $2,615 3.42%

    For 2020, Credit Union Of America's most frequently originated type of loan was Conventional, with 1,462 originations. Their 2nd most popular type was HELOC, with 696 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 662 $98,210,000 $148,353 $1,980 3.34%
    Refi 548 $66,970,000 $122,208 $1,974 3.24%
    Other 366 $33,390,000 $91,230 $2,000 3.46%
    Home Improvement 337 $15,595,000 $46,276 $2,190 3.76%
    Cash Out Refi 264 $42,980,000 $162,803 $2,020 3.25%

    For 2020, Credit Union Of America's most frequently cited loan purpose was Home Purchase, with 662 originations. The 2nd most popular reason was Refi, with 548 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 838 $141,520,000 $168,878 $2,019 3.31%
    Other 696 $28,660,000 $41,178 $0 3.84%
    15 Year 381 $50,725,000 $133,136 $1,982 2.89%
    20 Year 167 $24,965,000 $149,491 $2,093 3.15%
    10 Year 83 $8,985,000 $108,253 $1,553 3.02%
    5 Year 12 $2,290,000 $190,833 $0 4.35%

    For 2020, Credit Union Of America's most frequently cited loan duration was 30 Year, with 838 originations. The 2nd most popular length was Other, with 696 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 1,322 $204,460,000 $154,660
    $1k-2k 96 $12,280,000 $127,917
    $2k-3k 30 $5,070,000 $169,000
    $3k-4k 13 $2,695,000 $207,308
    $4k-5k 4 $960,000 $240,000

    Credit Union Of America's average total fees were $2,019, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 1,322 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    3-4% 1,320 $133,510,000 $101,144
    2.5-3% 633 $99,375,000 $156,991
    4-5% 152 $13,080,000 $86,053
    <2.5% 65 $10,795,000 $166,077
    5-6% 7 $385,000 $55,000

    During 2020, Credit Union Of America's average interest rate for loans was 3.31%, while their most frequently originated rate bucket for loans was 3-4%, with 1,320 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 1,072 $53,270,000 $49,692 $1,778 3.62%
    $100k-200k 767 $109,745,000 $143,083 $1,968 3.18%
    $200k-400k 311 $81,005,000 $260,466 $2,283 3.13%
    $400k-600k 24 $11,020,000 $459,167 $2,531 3.09%
    $600k-1MM 3 $2,105,000 $701,667 $3,285 3.50%

    2020 saw Credit Union Of America place emphasis on $100,000 or less loans with 1,072 originations, totaling $53,270,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 539 $74,865,000 $138,896 $2,143 3.40%
    $50k-75k 522 $52,350,000 $100,287 $1,852 3.41%
    $75k-100k 437 $51,585,000 $118,043 $2,025 3.34%
    $50k or less 416 $33,180,000 $79,760 $1,788 3.37%
    $150k-250k 194 $31,680,000 $163,299 $2,300 3.36%
    $250k+ 54 $10,590,000 $196,111 $2,403 3.50%

    Credit Union Of America lent most frequently to those with incomes in the $100k-150k range, with 539 originations. The second most popular income band? $50k-75k, with 522 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 575 $66,605,000 $115,835 $1,967 3.34%
    30-36% 416 $50,700,000 $121,875 $1,915 3.37%
    <20% 356 $35,260,000 $99,045 $1,978 3.35%
    40% 70 $8,220,000 $117,429 $2,009 3.47%
    37% 70 $9,330,000 $133,286 $1,864 3.38%
    38% 68 $9,350,000 $137,500 $1,938 3.34%
    36% 65 $8,635,000 $132,846 $2,121 3.41%
    39% 62 $8,820,000 $142,258 $2,062 3.35%
    43% 59 $7,785,000 $131,949 $2,286 3.39%
    41% 59 $8,875,000 $150,424 $2,126 3.31%
    44% 54 $6,460,000 $119,630 $2,173 3.39%
    45% 45 $5,145,000 $114,333 $2,357 3.47%
    48% 45 $5,975,000 $132,778 $2,036 3.40%
    42% 44 $4,720,000 $107,273 $1,841 3.53%
    50-60% 44 $2,280,000 $51,818 $2,172 3.79%
    46% 43 $5,355,000 $124,535 $1,872 3.42%
    47% 37 $5,485,000 $148,243 $2,196 3.42%
    49% 34 $4,100,000 $120,588 $1,926 3.45%
    >60% 15 $1,025,000 $68,333 $2,247 3.75%

    Credit Union Of America lent most frequently to those with DTI ratios of 20-30%, with 575 originations. The next most common DTI ratio? 30-36%, with 416 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 1,837 $210,945,000 $114,831 $1,980 3.40%
    Not provided 176 $25,900,000 $147,159 $2,082 3.22%
    Asian 54 $7,510,000 $139,074 $2,137 3.25%
    Black 60 $5,840,000 $97,333 $1,864 3.57%
    American Indian 26 $3,150,000 $121,154 $1,746 3.34%
    Not applicable 15 $2,895,000 $193,000 $0 4.36%
    Vietnamese 3 $505,000 $168,333 $2,288 3.25%
    Native Hawaiian or Islander 3 $165,000 $55,000 $0 3.75%
    Asian Indian 1 $105,000 $105,000 $3,703 3.00%
    Filipino 1 $95,000 $95,000 $3,964 3.63%
    Other Asian 1 $35,000 $35,000 $0 3.75%

    Approval Rates

    Total approvals of all applications
    82.08%

    Credit Union Of America has a below average approval rate.

    Pick Rate

    Approvals leading to origination
    78.87%

    Credit Union Of America has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 2,177 $257,145,000 $118,119

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Site-Built 3 $1,465,000 $488,333
    Single Family (1-4 Units):Manufactured 6 $460,000 $76,667
    Single Family (1-4 Units):Site-Built 2,168 $255,220,000 $117,721

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 284 $13,680,000 $48,169 $1,679 3.73%
    40-60% 262 $26,880,000 $102,595 $1,847 3.21%
    60-80% 645 $97,825,000 $151,667 $2,048 3.22%
    80-100% 677 $110,125,000 $162,666 $1,998 3.27%
    Over 100% 1 $205,000 $205,000 $4,680 3.00%
    Under 20% 308 $8,430,000 $27,370 $1,772 3.86%

    Complaints

    Bank Name Product Issue 2020 CPFB Complaints % of Total Issues
    Credit Plus Inc Conventional home mortgage Improper use of your report 1 50.0%
    Credit Plus Inc FHA mortgage Applying for a mortgage or refinancing an existing mortgage 1 50.0%