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 Home Purchase, Refi, and Cash Out Refi loans. United Local Credit Union has a high proportion of conventional loans. Their top two markets are Fresno and Visalia .United Local Credit Union 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. 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% | 11/21/24 |
| 30 Year Conventional Refi | 6.49% | 11/21/24 |
| 30 Year Cash-out Refi | 6.27% | 11/21/24 |
| 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
3Origination Dollar Volume (All Markets)
$395,000Top 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) | 2 | $290,000 | $145,000 | $2,963 | 4.13% |
| VISALIA, CA (FHA|USDA|VA) | 1 | $105,000 | $105,000 | $2,688 | 3.25% |
Their top states include:
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 3 | $395,000 | $131,667 | $2,871 | 3.83% |
For 2022, United Local Credit Union's most frequently originated type of loan was Conventional, with 3 originations.
Loan Reason
| Loan Reason | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Home Purchase | 1 | $205,000 | $205,000 | $3,504 | 3.88% |
| Refi | 1 | $105,000 | $105,000 | $2,688 | 3.25% |
| Cash Out Refi | 1 | $85,000 | $85,000 | $2,422 | 4.38% |
For 2022, United Local Credit Union's most frequently cited loan purpose was Home Purchase, with 1 originations. The 2nd most popular reason was Refi, with 1 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| 30 Year | 2 | $310,000 | $155,000 | $3,096 | 3.56% |
| 10 Year | 1 | $85,000 | $85,000 | $2,422 | 4.38% |
For 2022, United Local Credit Union's most frequently cited loan duration was 30 Year, with 2 originations. The 2nd most popular length was 10 Year, with 1 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 3-4% | 2 | $310,000 | $155,000 |
| 4-5% | 1 | $85,000 | $85,000 |
During 2022, United Local Credit Union's average interest rate for loans was 3.56%, while their most frequently originated rate bucket for loans was 3-4%, with 2 originations.
Loan Sizing
2022 saw United Local Credit Union place emphasis on $100,000 or less loans with 1 originations, totaling $85,000 in origination value.
Applicant Income
| Applicant Income | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| $50k-75k | 2 | $290,000 | $145,000 | $2,963 | 4.13% |
| $50k or less | 1 | $105,000 | $105,000 | $2,688 | 3.25% |
United Local Credit Union lent most frequently to those with incomes in the $50k-75k range, with 2 originations. The second most popular income band? $50k or less, with 1 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| 37% | 1 | $205,000 | $205,000 | $3,504 | 3.88% |
| 38% | 1 | $105,000 | $105,000 | $2,688 | 3.25% |
| 48% | 1 | $85,000 | $85,000 | $2,422 | 4.38% |
United Local Credit Union lent most frequently to those with DTI ratios of 37%, with 1 originations. The next most common DTI ratio? 38%, with 1 originations.
Ethnicity Mix
| Applicant Ethnicity | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| White | 3 | $395,000 | $131,667 | $2,871 | 3.83% |
Approval Rates
Total approvals of all applications50.00%
United Local Credit Union has a low approval rate. They may have poor market targeting or stringent lending standards.
Pick Rate
Approvals leading to origination0.00%
United Local Credit Union 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 | 3 | $395,000 | $131,667 |
LTV Distribution
| Loan to Value | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| 20-40% | 2 | $190,000 | $95,000 | $2,555 | 3.81% |
| 40-60% | 1 | $205,000 | $205,000 | $3,504 | 3.88% |
Complaints
| Bank Name | Product | Issue | 2022 CPFB Complaints | % of Total Issues |
|---|---|---|---|---|
| UNITED COMMUNITY BANK | Conventional home mortgage | Closing on a mortgage | 1 | 100.0% |