University Of Virginia Community Credit Union Mortgage Rates, Fees & Info

Charlottesville, VA

LEI: 549300TYKYOVQFBZBV90

Tax ID: 54-0674170

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

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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

    University Of Virginia Community Credit Union is a smaller credit union specializing in Cash Out Refi and Home Purchase loans. University Of Virginia Community Credit Union has a high proportion of conventional loans. Their top markets by origination volume include: Charlottesville, Washington, Staunton, Winchester, and Lynchburg among others. We have data for 6 markets. (Some data included below & more in-depth data is available with an active subscription.)

    University Of Virginia Community 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. University Of Virginia Community 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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    Originations

    210

    Origination Dollar Volume (All Markets)

    $26,850,000

    Awards

    UNIVERSITY OF VIRGINIA COMMUNITY CREDIT UNION 30 Year Conventional Loans bronze UNIVERSITY OF VIRGINIA COMMUNITY CREDIT UNION 30 Year Conventional Loans bronze UNIVERSITY OF VIRGINIA COMMUNITY CREDIT UNION 30 Year Conventional Loans bronze
    Show all (3) 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
    CHARLOTTESVILLE, VA (FHA|USDA|VA) 160 $20,850,000 $130,313 $2,403 5.07%
    Outside of Metro Areas 28 $2,940,000 $105,000 $2,258 4.98%
    Washington-Arlington-Alexandria, DC-VA-MD-WV (FHA|USDA|VA) 18 $2,560,000 $142,222 $1,770 4.97%
    STAUNTON, VA (FHA|USDA|VA) 1 $285,000 $285,000 $3,869 4.50%
    WINCHESTER, VA-WV (FHA|USDA|VA) 1 $115,000 $115,000 $2,616 4.38%
    LYNCHBURG, VA (FHA|USDA|VA) 2 $100,000 $50,000 $1,492 5.99%
    University Of Virginia Community Credit Union's top markets include Charlottesville, Washington, Staunton, Winchester, and Lynchburg among others.

    Their top states include:
  • Virginia (FHA|USDA|VA)

    • Similar Lenders

    We use machine learning to identify the top lenders compared against UNIVERSITY OF VIRGINIA COMMUNITY CREDIT UNION based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.

    DUPONT COMMUNITY
    Similarity Rank: 55
    UNIVERSITY OF VIRGINIA COMMUNITY CREDIT UNION,INC.
    Similarity Rank: 96
    Bank of Clarke County
    Similarity Rank: 320
    LIBRARY OF CONGRESS
    Similarity Rank: 448
    Mid-Atlantic Federal Credit Union
    Similarity Rank: 450
    Third Federal Savings and Loan Association of Cleveland
    Similarity Rank: 614
    EDUCATIONAL SYSTEMS
    Similarity Rank: 693
    JOHNSON MORTGAGE COMPANY, L.L.C.
    Similarity Rank: 1220
    IDB Global Federal Credit Union
    Similarity Rank: 1240
    City National Bank of West Virginia
    Similarity Rank: 1482

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 210 $26,850,000 $127,857 $2,336 5.05%

    For 2018, University Of Virginia Community Credit Union's most frequently originated type of loan was Conventional, with 210 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Cash Out Refi 80 $10,360,000 $129,500 $2,212 5.11%
    Home Improvement 39 $2,215,000 $56,795 $1,663 5.26%
    Refi 38 $4,430,000 $116,579 $2,554 4.75%
    Home Purchase 32 $8,480,000 $265,000 $3,763 4.29%
    Other 21 $1,365,000 $65,000 $1,817 6.14%

    For 2018, University Of Virginia Community Credit Union's most frequently cited loan purpose was Cash Out Refi, with 80 originations. The 2nd most popular reason was Home Improvement, with 39 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    10 Year 73 $4,605,000 $63,082 $1,935 5.56%
    30 Year 56 $13,400,000 $239,286 $3,303 4.33%
    15 Year 52 $5,650,000 $108,654 $2,186 5.34%
    5 Year 18 $1,530,000 $85,000 $1,620 4.78%
    20 Year 7 $1,305,000 $186,429 $2,810 4.43%
    Other 4 $360,000 $90,000 $2,495 4.48%

    For 2018, University Of Virginia Community Credit Union's most frequently cited loan duration was 10 Year, with 73 originations. The 2nd most popular length was 30 Year, with 56 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 179 $20,665,000 $115,447
    $1k-2k 14 $2,380,000 $170,000
    $2k-3k 7 $1,505,000 $215,000
    $3k-4k 3 $855,000 $285,000
    $5k+ 2 $780,000 $390,000

    University Of Virginia Community Credit Union's average total fees were $3,303, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 179 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    4-5% 111 $15,745,000 $141,847
    5-6% 44 $3,300,000 $75,000
    3-4% 25 $5,665,000 $226,600
    6-7% 19 $1,325,000 $69,737
    7-8% 6 $270,000 $45,000
    Over 8% 3 $115,000 $38,333
    2.5-3% 2 $430,000 $215,000

    During 2018, University Of Virginia Community Credit Union's average interest rate for loans was 4.33%, while their most frequently originated rate bucket for loans was 4-5%, with 111 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 116 $6,100,000 $52,586 $1,658 5.44%
    $100k-200k 50 $7,520,000 $150,400 $2,846 4.82%
    $200k-400k 39 $10,835,000 $277,821 $3,691 4.27%
    $400k-600k 4 $1,790,000 $447,500 $5,526 4.34%
    $600k-1MM 1 $605,000 $605,000 $3,809 4.88%

    2018 saw University Of Virginia Community Credit Union place emphasis on $100,000 or less loans with 116 originations, totaling $6,100,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 50 $6,050,000 $121,000 $2,389 5.03%
    $100k-150k 44 $5,790,000 $131,591 $2,044 4.87%
    $150k-250k 36 $6,500,000 $180,556 $2,780 4.94%
    $50k or less 34 $2,270,000 $66,765 $2,206 5.55%
    $75k-100k 29 $2,315,000 $79,828 $2,034 5.16%
    $250k+ 14 $3,520,000 $251,429 $2,999 4.69%

    University Of Virginia Community Credit Union lent most frequently to those with incomes in the $50k-75k range, with 50 originations. The second most popular income band? $100k-150k, with 44 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 75 $9,975,000 $133,000 $2,276 4.89%
    30-36% 41 $4,405,000 $107,439 $2,141 5.24%
    <20% 34 $5,200,000 $152,941 $2,930 4.79%
    40% 10 $1,250,000 $125,000 $2,468 4.89%
    41% 8 $1,130,000 $141,250 $2,563 5.21%
    36% 8 $810,000 $101,250 $2,037 5.45%
    37% 7 $605,000 $86,429 $2,005 5.60%
    39% 7 $915,000 $130,714 $2,101 5.24%
    42% 4 $760,000 $190,000 $2,916 5.00%
    38% 4 $390,000 $97,500 $1,312 5.24%
    >60% 2 $90,000 $45,000 $2,018 5.99%
    46% 1 $45,000 $45,000 $1,597 7.74%
    48% 1 $185,000 $185,000 $3,386 4.50%
    49% 1 $55,000 $55,000 $2,171 10.37%

    University Of Virginia Community Credit Union lent most frequently to those with DTI ratios of 20-30%, with 75 originations. The next most common DTI ratio? 30-36%, with 41 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 132 $18,110,000 $137,197 $2,324 4.96%
    Not provided 65 $7,505,000 $115,462 $2,422 5.05%
    Black 11 $695,000 $63,182 $1,672 6.36%
    Asian 1 $305,000 $305,000 $5,252 3.75%
    American Indian 1 $235,000 $235,000 $2,872 4.63%

    Approval Rates

    Total approvals of all applications
    69.95%

    University Of Virginia Community Credit Union has a low approval rate. They may have poor market targeting or stringent lending standards.

    Pick Rate

    Approvals leading to origination
    78.10%

    University Of Virginia Community Credit Union has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 210 $26,850,000 $127,857

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Single Family (1-4 Units):Manufactured 3 $215,000 $71,667
    Single Family (1-4 Units):Site-Built 207 $26,635,000 $128,671

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 50 $4,440,000 $88,800 $1,924 5.31%
    40-60% 33 $5,025,000 $152,273 $2,851 4.98%
    60-80% 41 $9,885,000 $241,098 $3,300 4.47%
    80-100% 16 $3,940,000 $246,250 $3,715 4.38%
    Over 100% 1 $45,000 $45,000 $1,597 7.74%
    Under 20% 67 $3,175,000 $47,388 $1,613 5.38%

    Complaints

    Bank Name Product Issue 2018 CPFB Complaints % of Total Issues
    University Lending Group, LLC Other type of mortgage Applying for a mortgage or refinancing an existing mortgage 1 100.0%