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

Jump to:

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 Refi loans. University Of Virginia Community Credit Union has a high proportion of conventional loans. Their top markets by origination volume include: Charlottesville, Washington, Staunton, Lynchburg, and Baltimore among others. We have data for 7 markets. (Some data included below & more in-depth data is available with an active subscription.)

    University Of Virginia Community 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. 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.

    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.


    Originations

    569

    Origination Dollar Volume (All Markets)

    $92,375,000

    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) 397 $62,245,000 $156,788 $3,091 3.22%
    Washington-Arlington-Alexandria, DC-VA-MD-WV (FHA|USDA|VA) 93 $18,035,000 $193,925 $3,205 3.32%
    Outside of Metro Areas 62 $8,630,000 $139,194 $2,553 3.29%
    STAUNTON, VA (FHA|USDA|VA) 13 $2,745,000 $211,154 $2,590 3.48%
    LYNCHBURG, VA (FHA|USDA|VA) 2 $550,000 $275,000 $3,358 3.34%
    BALTIMORE-COLUMBIA-TOWSON, MD (FHA|USDA|VA) 1 $115,000 $115,000 $0 4.94%
    RICHMOND, VA (FHA|USDA|VA) 1 $55,000 $55,000 $0 2.99%
    University Of Virginia Community Credit Union's top markets include Charlottesville, Washington, Staunton, Lynchburg, and Baltimore among others.

    Their top states include:
  • Virginia (FHA|USDA|VA)
  • Maryland (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: 650
    Towne First Mortgage, LLC
    Similarity Rank: 920
    FIRST BANCORP
    Similarity Rank: 988
    Poli Mortgage Group, Inc.
    Similarity Rank: 1100
    Beeline Loans, Inc.
    Similarity Rank: 1505
    Kwik Mortgage Corporation
    Similarity Rank: 1602
    IDB Global Federal Credit Union
    Similarity Rank: 1782
    VILLAGE BANK MORTGAGE CORPORATION
    Similarity Rank: 1920
    LOANFLIGHT LENDING, LLC
    Similarity Rank: 2052
    Credence Funding Corporation
    Similarity Rank: 2400

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 320 $72,860,000 $227,688 $3,034 3.43%
    HELOC 249 $19,515,000 $78,373 n/a 3.02%

    For 2020, University Of Virginia Community Credit Union's most frequently originated type of loan was Conventional, with 320 originations. Their 2nd most popular type was HELOC, with 249 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Cash Out Refi 299 $45,355,000 $151,689 $2,952 3.31%
    Home Improvement 112 $7,380,000 $65,893 $0 3.26%
    Refi 98 $25,040,000 $255,510 $3,306 3.03%
    Home Purchase 60 $14,600,000 $243,333 $3,676 3.30%

    For 2020, University Of Virginia Community Credit Union's most frequently cited loan purpose was Cash Out Refi, with 299 originations. The 2nd most popular reason was Home Improvement, with 112 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 257 $21,145,000 $82,276 $2,371 3.05%
    30 Year 180 $48,980,000 $272,111 $3,425 3.33%
    15 Year 75 $14,405,000 $192,067 $3,137 3.20%
    10 Year 30 $3,360,000 $112,000 $996 4.40%
    20 Year 18 $4,100,000 $227,778 $2,952 2.91%
    5 Year 9 $385,000 $42,778 $176 4.73%

    For 2020, University Of Virginia Community Credit Union's most frequently cited loan duration was Other, with 257 originations. The 2nd most popular length was 30 Year, with 180 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $1k-2k 242 $59,730,000 $246,818
    $<1k 41 $3,345,000 $81,585
    $5k+ 9 $3,365,000 $373,889
    $2k-3k 6 $1,370,000 $228,333
    $3k-4k 6 $1,490,000 $248,333
    $4k-5k 3 $755,000 $251,667

    University Of Virginia Community Credit Union's average total fees were $3,425, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 242 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    2.5-3% 321 $36,765,000 $114,533
    3-4% 187 $49,205,000 $263,128
    4-5% 28 $2,770,000 $98,929
    5-6% 17 $685,000 $40,294
    <2.5% 13 $2,815,000 $216,538
    6-7% 3 $135,000 $45,000

    During 2020, University Of Virginia Community Credit Union's average interest rate for loans was 3.33%, while their most frequently originated rate bucket for loans was 2.5-3%, with 321 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 238 $12,150,000 $51,050 $1,039 3.36%
    $200k-400k 156 $42,570,000 $272,885 $3,388 3.19%
    $100k-200k 145 $21,075,000 $145,345 $2,957 3.14%
    $400k-600k 22 $10,750,000 $488,636 $4,646 3.11%
    $600k-1MM 8 $5,830,000 $728,750 $7,294 3.47%

    2020 saw University Of Virginia Community Credit Union place emphasis on $100,000 or less loans with 238 originations, totaling $12,150,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 146 $23,090,000 $158,151 $3,048 3.16%
    $75k-100k 119 $17,465,000 $146,765 $2,766 3.26%
    $50k-75k 98 $11,390,000 $116,224 $2,615 3.34%
    $150k-250k 96 $23,140,000 $241,042 $4,096 3.21%
    $50k or less 64 $5,430,000 $84,844 $2,487 3.35%
    $250k+ 34 $9,630,000 $283,235 $3,064 3.13%

    University Of Virginia Community Credit Union lent most frequently to those with incomes in the $100k-150k range, with 146 originations. The second most popular income band? $75k-100k, with 119 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 175 $28,105,000 $160,600 $2,976 3.21%
    <20% 143 $19,625,000 $137,238 $2,941 3.13%
    30-36% 108 $16,670,000 $154,352 $2,958 3.31%
    40% 20 $2,930,000 $146,500 $2,996 3.21%
    39% 17 $1,875,000 $110,294 $2,056 3.48%
    37% 17 $3,075,000 $180,882 $2,533 3.45%
    42% 15 $3,535,000 $235,667 $3,594 3.35%
    38% 14 $2,000,000 $142,857 $2,909 3.18%
    36% 13 $2,095,000 $161,154 $5,047 3.54%
    41% 13 $2,265,000 $174,231 $3,940 3.09%
    44% 1 $105,000 $105,000 $0 2.99%
    45% 1 $115,000 $115,000 $2,901 3.63%
    48% 1 $505,000 $505,000 $3,833 3.38%

    University Of Virginia Community Credit Union lent most frequently to those with DTI ratios of 20-30%, with 175 originations. The next most common DTI ratio? <20%, with 143 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 439 $73,255,000 $166,868 $3,150 3.24%
    Not provided 94 $12,300,000 $130,851 $2,620 3.18%
    Not applicable 7 $1,945,000 $277,857 $0 4.08%
    Black 17 $1,645,000 $96,765 $1,877 3.66%
    Asian 4 $1,160,000 $290,000 $3,293 3.26%
    Other Asian 2 $1,050,000 $525,000 $3,841 3.44%
    American Indian 3 $465,000 $155,000 $3,104 3.25%
    Filipino 1 $285,000 $285,000 $2,918 2.81%
    Asian Indian 1 $235,000 $235,000 $2,833 2.81%
    Chinese 1 $35,000 $35,000 $0 4.49%

    Approval Rates

    Total approvals of all applications
    80.34%

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

    Pick Rate

    Approvals leading to origination
    75.75%

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

    Points and Fees

    Points Originations Total Value Average Loan
    NA 569 $92,375,000 $162,346

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Site-Built 2 $880,000 $440,000
    Single Family (1-4 Units):Manufactured 2 $210,000 $105,000
    Single Family (1-4 Units):Site-Built 565 $91,285,000 $161,566

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 95 $10,905,000 $114,789 $2,584 3.10%
    40-60% 88 $17,840,000 $202,727 $3,326 3.11%
    60-80% 128 $32,410,000 $253,203 $3,513 3.22%
    80-100% 49 $14,585,000 $297,653 $3,525 3.34%
    Under 20% 190 $9,930,000 $52,263 $374 3.38%

    Complaints

    Bank Name Product Issue 2020 CPFB Complaints % of Total Issues
    Universal Capital Services, Inc. Conventional home mortgage Applying for a mortgage or refinancing an existing mortgage 2 66.7%
    Universal Capital Services, Inc. Home equity loan or line of credit (HELOC) Applying for a mortgage or refinancing an existing mortgage 1 33.3%