United Local Credit Union Mortgage Rates, Fees & Info
Fresno, CALEI: 549300SNKDC040FOBU51
Tax ID: 94-1518911
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Mortgage Data
Review & Overview
United Local Credit Union is a smaller credit union specializing in Cash Out Refi and Refi loans. United Local Credit Union has a high proportion of conventional loans. Their top two markets are Fresno and Madera .United Local Credit Union 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. United Local 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.
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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| 30 Year Conventional Purchase | 6.42% | 5/4/24 |
| 30 Year Conventional Refi | 6.49% | 5/4/24 |
| 30 Year Cash-out Refi | 6.27% | 5/4/24 |
| 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. | ||
United Local Credit Union Mortgage Calculator
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
15Origination Dollar Volume (All Markets)
$3,225,000Top 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 |
|---|---|---|---|---|---|
| FRESNO, CA (FHA|USDA|VA) | 14 | $2,800,000 | $200,000 | $2,906 | 2.90% |
| MADERA, CA (FHA|USDA|VA) | 1 | $425,000 | $425,000 | $2,972 | 3.38% |
Their top states include:
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 15 | $3,225,000 | $215,000 | $2,910 | 2.93% |
For 2021, United Local Credit Union's most frequently originated type of loan was Conventional, with 15 originations.
Loan Reason
For 2021, United Local Credit Union's most frequently cited loan purpose was Cash Out Refi, with 8 originations. The 2nd most popular reason was Refi, with 6 originations.
Loan Duration/Length
For 2021, United Local Credit Union's most frequently cited loan duration was 30 Year, with 7 originations. The 2nd most popular length was 20 Year, with 4 originations.
Origination Fees/Closing Costs
| Origination Fee/Closing Cost | Originations | Total Value | Average Loan |
|---|---|---|---|
| $<1k | 11 | $2,455,000 | $223,182 |
| $1k-2k | 3 | $565,000 | $188,333 |
| $2k-3k | 1 | $205,000 | $205,000 |
United Local Credit Union's average total fees were $2,953, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 11 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 3-4% | 6 | $1,710,000 | $285,000 |
| 2.5-3% | 5 | $905,000 | $181,000 |
| <2.5% | 4 | $610,000 | $152,500 |
During 2021, United Local Credit Union's average interest rate for loans was 3.23%, while their most frequently originated rate bucket for loans was 3-4%, with 6 originations.
Loan Sizing
2021 saw United Local Credit Union place emphasis on $100k-200k loans with 8 originations, totaling $1,260,000 in origination value.
Applicant Income
United Local Credit Union lent most frequently to those with incomes in the $75k-100k range, with 5 originations. The second most popular income band? $50k-75k, with 4 originations.
Applicant Debt to Income Ratio
United Local Credit Union lent most frequently to those with DTI ratios of 30-36%, with 3 originations. The next most common DTI ratio? 20-30%, with 2 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications79.17%
United Local Credit Union has a below average approval rate.
Pick Rate
Approvals leading to origination80.00%
United Local Credit Union has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 15 | $3,225,000 | $215,000 |
LTV Distribution
Complaints
| Bank Name | Product | Issue | 2021 CPFB Complaints | % of Total Issues |
|---|---|---|---|---|
| UNITED COMMUNITY BANK | Home equity loan or line of credit (HELOC) | Trouble during payment process | 1 | 20.0% |
| UNITED COMMUNITY BANK | Other type of mortgage | Applying for a mortgage or refinancing an existing mortgage | 1 | 20.0% |
| UNITED COMMUNITY BANK | Conventional home mortgage | Applying for a mortgage or refinancing an existing mortgage | 1 | 20.0% |
| UNITED COMMUNITY BANK | Conventional home mortgage | Trouble during payment process | 1 | 20.0% |
| UNITED COMMUNITY BANK | Other type of mortgage | Trouble during payment process | 1 | 20.0% |