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.) Their top markets by origination volume include: Wichita, Hutchinson, Great Bend, Kansas City, and Salina among others. We have data for 17 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.

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    SimulatedRates™

    Mortgage Type     		Simulated Rate Simulation Date
    Home Equity Line of Credit (HELOC) 6.73% 4/18/24
    30 Year Conventional Purchase 6.64% 4/18/24
    30 Year Conventional Refi 6.28% 4/18/24
    30 Year Cash-out Refi 6.42% 4/18/24
    30 Year FHA Purchase 7.33% 4/18/24
    30 Year FHA Refi 7.50% 4/18/24
    30 Year VA Purchase 6.51% 4/18/24
    30 Year VA Refi 6.27% 4/18/24
    30 Year USDA Purchase 4.86% 4/18/24
    15 Year Conventional Purchase 6.21% 4/18/24
    15 Year Conventional Refi 6.09% 4/18/24
    15 Year Cash-out Refi 6.09% 4/18/24
    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

    2,275

    Origination Dollar Volume (All Markets)

    $266,795,000
    Show all (9) 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) 1,232 $197,660,000 $160,438 $2,129 3.04%
    Outside of Metro Areas 856 $43,170,000 $50,432 $1,991 3.63%
    Hutchinson, KS (FHA|USDA|VA) 72 $10,170,000 $141,250 $1,776 2.87%
    Great Bend, KS (FHA|USDA|VA) 64 $6,660,000 $104,063 $1,899 3.03%
    KANSAS CITY, MO-KS (FHA|USDA|VA) 11 $2,475,000 $225,000 $2,211 3.01%
    Salina, KS (FHA|USDA|VA) 17 $2,455,000 $144,412 $2,087 3.01%
    OKLAHOMA CITY, OK (FHA|USDA|VA) 5 $1,705,000 $341,000 $3,063 2.88%
    Winfield, KS (FHA|USDA|VA) 6 $770,000 $128,333 $1,966 2.79%
    LAWRENCE, KS (FHA|USDA|VA) 2 $410,000 $205,000 $1,615 2.63%
    McPherson, KS (FHA|USDA|VA) 2 $280,000 $140,000 $1,400 3.38%
    Dodge City, KS (FHA|USDA|VA) 2 $210,000 $105,000 $1,470 3.13%
    Ponca City, OK (FHA|USDA|VA) 1 $195,000 $195,000 $3,435 2.88%
    Parsons, KS (FHA|USDA|VA) 1 $165,000 $165,000 $2,535 3.00%
    Pittsburg, KS (FHA|USDA|VA) 1 $145,000 $145,000 $2,222 3.63%
    MANHATTAN, KS (FHA|USDA|VA) 1 $135,000 $135,000 $2,084 2.63%
    Bartlesville, OK (FHA|USDA|VA) 1 $105,000 $105,000 $3,155 3.00%
    TOPEKA, KS (FHA|USDA|VA) 1 $85,000 $85,000 $1,789 3.00%
    Credit Union Of America's top markets include Wichita, Hutchinson, Great Bend, Kansas City, and Salina among others.

    Their top states include:
  • Kansas (FHA|USDA|VA)
  • Oklahoma (FHA|USDA|VA)
  • Missouri (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: 136
    SKYWARD
    Similarity Rank: 240
    PANHANDLE FEDERAL CREDIT UNION
    Similarity Rank: 264
    Members Mortgage Services, L.L.C.
    Similarity Rank: 264
    MAINSTREET FEDERAL CREDIT UNION
    Similarity Rank: 426
    MID AMERICAN
    Similarity Rank: 500
    Wichita Federal Credit Union
    Similarity Rank: 553
    HOME BANK AND TRUST COMPANY
    Similarity Rank: 560
    FRONTIER COMMUNITY CREDIT UNION
    Similarity Rank: 693
    CoreFirst Bank & Trust
    Similarity Rank: 759

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 1,417 $227,155,000 $160,307 $2,068 2.99%
    HELOC 845 $37,335,000 $44,183 n/a 3.71%
    FHA 13 $2,305,000 $177,308 $4,987 2.79%

    For 2021, Credit Union Of America's most frequently originated type of loan was Conventional, with 1,417 originations. Their 2nd most popular type was HELOC, with 845 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 713 $122,825,000 $172,265 $2,224 3.10%
    Refi 623 $56,975,000 $91,453 $1,887 3.26%
    Home Improvement 389 $21,375,000 $54,949 $1,992 3.67%
    Other 292 $26,890,000 $92,089 $2,011 3.30%
    Cash Out Refi 258 $38,730,000 $150,116 $2,050 3.00%

    For 2021, Credit Union Of America's most frequently cited loan purpose was Home Purchase, with 713 originations. The 2nd most popular reason was Refi, with 623 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 865 $154,705,000 $178,850 $2,198 3.13%
    Other 846 $37,560,000 $44,397 $2,102 3.71%
    15 Year 276 $36,870,000 $133,587 $1,942 2.60%
    20 Year 179 $23,465,000 $131,089 $1,994 2.95%
    10 Year 98 $12,030,000 $122,755 $1,757 2.65%
    5 Year 10 $1,660,000 $166,000 $0 4.27%
    3 Year 1 $505,000 $505,000 $0 4.50%

    For 2021, Credit Union Of America's most frequently cited loan duration was 30 Year, with 865 originations. The 2nd most popular length was Other, with 846 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 1,293 $205,735,000 $159,114
    $1k-2k 80 $10,070,000 $125,875
    $2k-3k 15 $2,245,000 $149,667
    $3k-4k 10 $2,390,000 $239,000
    $4k-5k 4 $770,000 $192,500
    $5k+ 3 $1,305,000 $435,000

    Credit Union Of America's average total fees were $2,198, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 1,293 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    3-4% 1,183 $112,925,000 $95,456
    2.5-3% 666 $116,280,000 $174,595
    <2.5% 217 $27,115,000 $124,954
    4-5% 209 $10,475,000 $50,120

    During 2021, Credit Union Of America's average interest rate for loans was 3.13%, while their most frequently originated rate bucket for loans was 3-4%, with 1,183 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 1,198 $60,130,000 $50,192 $1,882 3.48%
    $100k-200k 720 $103,260,000 $143,417 $2,015 3.00%
    $200k-400k 323 $83,535,000 $258,622 $2,408 3.01%
    $400k-600k 24 $11,600,000 $483,333 $3,286 3.11%
    $600k-1MM 7 $4,775,000 $682,143 $3,351 3.09%
    $1MM+ 3 $3,495,000 $1,165,000 $6,304 3.53%

    2021 saw Credit Union Of America place emphasis on $100,000 or less loans with 1,198 originations, totaling $60,130,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 597 $61,105,000 $102,353 $2,005 3.21%
    $100k-150k 525 $70,385,000 $134,067 $2,206 3.30%
    $50k or less 456 $35,920,000 $78,772 $1,880 3.17%
    $75k-100k 405 $49,975,000 $123,395 $2,132 3.26%
    $150k-250k 230 $34,010,000 $147,870 $2,437 3.35%
    $250k+ 44 $9,800,000 $222,727 $2,873 3.40%

    Credit Union Of America lent most frequently to those with incomes in the $50k-75k range, with 597 originations. The second most popular income band? $100k-150k, with 525 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 609 $66,595,000 $109,351 $2,041 3.25%
    30-36% 422 $50,200,000 $118,957 $2,102 3.26%
    <20% 356 $30,790,000 $86,489 $1,988 3.24%
    43% 82 $10,910,000 $133,049 $2,241 3.24%
    42% 74 $10,900,000 $147,297 $2,068 3.16%
    36% 72 $9,830,000 $136,528 $2,107 3.20%
    37% 71 $8,785,000 $123,732 $2,003 3.19%
    40% 71 $9,215,000 $129,789 $2,338 3.20%
    41% 66 $9,360,000 $141,818 $2,173 3.30%
    38% 65 $8,825,000 $135,769 $1,994 3.17%
    44% 62 $8,750,000 $141,129 $2,479 3.17%
    39% 61 $8,325,000 $136,475 $1,964 3.20%
    45% 50 $6,740,000 $134,800 $2,148 3.30%
    50-60% 45 $3,675,000 $81,667 $2,387 3.53%
    48% 43 $4,855,000 $112,907 $2,385 3.34%
    46% 37 $4,715,000 $127,432 $1,915 3.27%
    47% 30 $3,720,000 $124,000 $2,053 3.17%
    49% 19 $2,955,000 $155,526 $2,206 3.34%
    >60% 17 $885,000 $52,059 $0 3.69%

    Credit Union Of America lent most frequently to those with DTI ratios of 20-30%, with 609 originations. The next most common DTI ratio? 30-36%, with 422 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 1,895 $216,635,000 $114,319 $2,084 3.27%
    Not provided 225 $29,855,000 $132,689 $2,110 3.05%
    Black 76 $7,020,000 $92,368 $1,997 3.44%
    Asian 41 $6,035,000 $147,195 $2,547 3.09%
    Not applicable 18 $5,600,000 $311,111 $0 4.05%
    American Indian 17 $1,395,000 $82,059 $2,028 3.10%
    Native Hawaiian or Islander 1 $215,000 $215,000 $1,655 3.38%
    Guamanian 1 $25,000 $25,000 $0 4.25%
    Korean 1 $15,000 $15,000 $0 4.25%

    Approval Rates

    Total approvals of all applications
    82.71%

    Credit Union Of America has a below average approval rate.

    Pick Rate

    Approvals leading to origination
    70.15%

    Credit Union Of America has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 2,275 $266,795,000 $117,273

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    2,275 $266,795,000 $117,273

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 370 $19,470,000 $52,622 $1,695 3.60%
    40-60% 285 $27,705,000 $97,211 $1,842 3.04%
    60-80% 660 $100,220,000 $151,848 $2,101 3.04%
    80-100% 618 $108,610,000 $175,744 $2,193 3.08%
    Over 100% 3 $695,000 $231,667 $6,328 3.73%
    Under 20% 339 $10,095,000 $29,779 $1,000 3.77%

    Complaints

    Bank Name Product Issue 2021 CPFB Complaints % of Total Issues
    Credit Union Mortgage Association, Inc. Conventional home mortgage Trouble during payment process 1 100.0%