Credit Union Financial Services Mortgage Rates, Fees & Info

Suwanee, GA

LEI: 549300VKT6APHQW3YT06

Tax ID: 51-0415301

3.8 stars - out of 5 stars, based on 20 reviews

2021 Data | 2020 Data | 2019 Data | 2018 Data


Overview

Credit Union Financial Services is a smaller credit union specializing in Cash Out Refi, Refi, and Home Purchase loans. Credit Union Financial Services 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.) They have a low ratio of USDA loans. Their top markets include Atlanta, Macon, Warner Robins, Savannah, and Milledgeville among others. Credit Union Financial Services has an above average approval rate for mortages when compared nationally. They have a below average pick rate when compared to the same sample of other lendors. Credit Union Financial Services is typically a high fee lendor.


Originations

390

Origination Dollar Volume (All Markets)

$75,610,000

Awards

CREDIT UNION FINANCIAL SERVICES  30 Year Conventional Loans gold
Show all (1) awards

Relative Rate

Credit Union Financial Services 's average 30 year fixed rate mortgage of loans were 3.05%.

The 2021 average 30 year fixed rate mortgage across all markets of loans were 3.15%.

This yields a difference of -0.1%.

Relative Fees

Credit Union Financial Services 's average total fees for a 30 year fixed rate mortgage are $6,247.

The average total origination fees for 30 year fixed rate mortgages (for all loan values, including both points & up-front fees in addition to origination fees) are $4,750.

Top Markets

Market Originations Total Value Average Loan Average Fees Average Rate
ATLANTA-SANDY SPRINGS-ALPHARETTA, GA (FHA|USDA|VA) 212 $44,370,000 $209,292 $5,973 2.84%
MACON-BIBB COUNTY, GA (FHA|USDA|VA) 34 $5,620,000 $165,294 $4,911 2.76%
WARNER ROBINS, GA (FHA|USDA|VA) 30 $4,340,000 $144,667 $4,802 2.89%
Outside of Metro Areas 20 $3,840,000 $192,000 $5,766 2.70%
SAVANNAH, GA (FHA|USDA|VA) 19 $3,455,000 $181,842 $5,623 2.91%
Milledgeville, GA (FHA|USDA|VA) 22 $3,110,000 $141,364 $4,673 2.66%
GAINESVILLE, GA (FHA|USDA|VA) 14 $3,110,000 $222,143 $6,351 2.65%
Jefferson, GA (FHA|USDA|VA) 8 $2,110,000 $263,750 $8,028 3.14%
Cornelia, GA (FHA|USDA|VA) 7 $1,595,000 $227,857 $7,051 2.91%
AUGUSTA-RICHMOND COUNTY, GA-SC (FHA|USDA|VA) 5 $1,045,000 $209,000 $5,169 2.65%
Statesboro, GA (FHA|USDA|VA) 1 $435,000 $435,000 $8,198 2.88%
Seneca, SC (FHA|USDA|VA) 1 $335,000 $335,000 $6,012 3.50%
HINESVILLE, GA (FHA|USDA|VA) 2 $280,000 $140,000 $7,173 3.19%
Toccoa, GA (FHA|USDA|VA) 1 $255,000 $255,000 $10,714 3.38%
ATHENS-CLARKE COUNTY, GA (FHA|USDA|VA) 2 $240,000 $120,000 $5,021 2.25%
Dublin, GA (FHA|USDA|VA) 2 $240,000 $120,000 $5,159 2.75%
St. Marys, GA (FHA|USDA|VA) 1 $205,000 $205,000 $4,703 2.13%
ROME, GA (FHA|USDA|VA) 3 $185,000 $61,667 $3,707 3.21%
Thomasville, GA (FHA|USDA|VA) 1 $185,000 $185,000 $1,403 3.38%
COLUMBUS, GA-AL (FHA|USDA|VA) 1 $175,000 $175,000 $5,745 3.25%
BRUNSWICK, GA (FHA|USDA|VA) 1 $145,000 $145,000 $6,422 2.25%
Jesup, GA (FHA|USDA|VA) 1 $125,000 $125,000 $3,750 3.13%
Vidalia, GA (FHA|USDA|VA) 1 $105,000 $105,000 $4,827 3.25%
Americus, GA (FHA|USDA|VA) 1 $105,000 $105,000 $4,464 2.38%

Credit Union Financial Services 's top markets include Atlanta, Macon, Warner Robins, Savannah, and Milledgeville among others.

Product Mix

Loan Type Originations Total Value Average Loan Average Fees Average Rate
Conventional 370 $71,800,000 $194,054 $5,789 2.82%
FHA 10 $1,580,000 $158,000 $3,620 3.10%
VA 7 $1,675,000 $239,286 $5,522 2.70%
USDA 3 $555,000 $185,000 $5,208 2.75%

For the 2021 period, Credit Union Financial Services 's most frequently originated loan type of loans were Conventional, with 370 originations. Their 2nd most popular type is FHA, with 10 originations.

Loan Reason

Loan Reason Originations Total Value Average Loan Average Fees Average Rate
Cash Out Refi 170 $30,660,000 $180,353 $5,422 2.92%
Refi 133 $24,875,000 $187,030 $5,466 2.67%
Home Purchase 84 $19,350,000 $230,357 $6,722 2.84%
Home Improvement 3 $725,000 $241,667 $6,731 3.25%

For the 2021, Credit Union Financial Services 's most frequently cited loan purpose of loans were Cash Out Refi, with 170 originations. The 2nd most popular reason of loans were Refi, with 133 originations.

Loan Duration/Length

Loan Length Originations Total Value Average Loan Average Fees Average Rate
30 Year 222 $47,760,000 $215,135 $6,247 3.05%
15 Year 124 $20,170,000 $162,661 $5,025 2.45%
20 Year 25 $4,585,000 $183,400 $5,056 2.81%
10 Year 13 $1,765,000 $135,769 $4,603 2.39%
1 Year 3 $725,000 $241,667 $6,731 3.25%
Other 3 $605,000 $201,667 $5,658 2.67%

For the 2021, Credit Union Financial Services 's most frequently cited loan length of loans were 30 Year, with 222 originations. The 2nd most popular length of loans were 15 Year, with 124 originations.

Origination Fees

Origination Fee Originations Total Value Average Loan
$<1k 198 $26,600,000 $134,343
$1k-2k 117 $29,855,000 $255,171
$2k-3k 45 $9,375,000 $208,333
$3k-4k 18 $6,480,000 $360,000
$5k+ 3 $985,000 $328,333

$6,247 of loans were Credit Union Financial Services 's average total fees, while their most frequently occuring range of origination fees were in the $<1k bucket, with 198 originations.

Interest Rates

Loan Rate Originations Total Value Average Loan
2.5-3% 182 $38,430,000 $211,154
<2.5% 107 $16,805,000 $157,056
3-4% 98 $19,900,000 $203,061
4-5% 3 $475,000 $158,333

During 2021, Credit Union Financial Services 's average interest rate of loans were 3.05%, while their most frequently originated rate bucket of loans were 2.5-3%, with 182 originations.

Loan Sizing

Loan Size Originations Total Value Average Loan Average Fees Average Rate
$100k-200k 191 $27,835,000 $145,733 $5,042 2.80%
$200k-400k 129 $34,615,000 $268,333 $6,778 2.93%
$100,000 or less 51 $3,985,000 $78,137 $4,365 2.62%
$400k-600k 18 $8,340,000 $463,333 $8,729 2.83%
$600k-1MM 1 $835,000 $835,000 $16,346 2.88%

2021 saw Credit Union Financial Services place emphasis on $100k-200k loans with 191 originations, totaling $27,835,000 in origination value.

Applicant Income

Applicant Income Originations Total Value Average Loan Average Fees Average Rate
$50k-75k 96 $14,910,000 $155,313 $5,318 2.79%
$75k-100k 89 $16,515,000 $185,562 $5,558 2.80%
$100k-150k 78 $18,310,000 $234,744 $6,381 2.89%
$50k or less 68 $8,090,000 $118,971 $4,908 2.84%
$150k-250k 46 $13,170,000 $286,304 $6,563 2.86%
$250k+ 12 $4,360,000 $363,333 $7,315 2.58%

Credit Union Financial Services lent most frequently to those with incomes in the $50k-75k range, with 96 originations. The second most popular income band? $75k-100k, with 89 originations.

Applicant Debt to Income Ratio

DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
20-30% 104 $20,450,000 $196,635 $5,801 2.77%
30-36% 70 $12,290,000 $175,571 $5,204 2.75%
<20% 45 $8,665,000 $192,556 $5,519 2.65%
43% 20 $4,340,000 $217,000 $5,871 2.92%
39% 20 $3,700,000 $185,000 $6,028 3.06%
41% 17 $3,565,000 $209,706 $6,381 3.09%
44% 15 $3,185,000 $212,333 $6,208 3.07%
36% 15 $2,915,000 $194,333 $5,953 3.01%
42% 14 $2,630,000 $187,857 $5,668 2.79%
37% 13 $2,075,000 $159,615 $5,471 2.71%
38% 11 $1,855,000 $168,636 $5,513 2.89%
40% 11 $2,245,000 $204,091 $5,837 2.75%
47% 7 $1,525,000 $217,857 $6,906 2.77%
45% 7 $1,655,000 $236,429 $7,132 2.95%
46% 7 $1,205,000 $172,143 $5,266 2.86%
50-60% 5 $895,000 $179,000 $4,985 3.33%
49% 4 $920,000 $230,000 $5,007 3.03%
>60% 3 $705,000 $235,000 $5,044 2.42%
48% 1 $275,000 $275,000 $5,804 2.50%

Credit Union Financial Services lent most frequently to those with DTI ratios of 20-30%, with 104 originations. The next most common DTI ratio? 30-36%, with 70 originations.

Ethnicity Mix

Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
White 239 $48,745,000 $203,954 $5,892 2.80%
Black 131 $23,145,000 $176,679 $5,389 2.86%
Not provided 13 $2,225,000 $171,154 $5,910 2.84%
Asian Indian 2 $470,000 $235,000 $5,786 2.63%
1 $305,000 $305,000 $6,049 2.88%
Filipino 1 $195,000 $195,000 $6,924 2.25%
Asian 1 $195,000 $195,000 $4,895 2.25%
American Indian 1 $185,000 $185,000 $6,928 2.88%
Other Asian 1 $145,000 $145,000 $5,320 2.88%

Approval Rates

Total approvals of all applications
91.97%

Credit Union Financial Services has an average approval rate.

Pick Rate

Approvals leading to origination
75.09%

Credit Union Financial Services has a below average pick rate.

Points and Fees

Points Originations Total Value Average Loan
NA 390 $75,610,000 $193,872

Occupancy Type Mix

Dwelling Type Originations Total Value Average Loan
390 $75,610,000 $193,872

LTV Distribution

Loan to Value Originations Total Value Average Loan Average Fees Average Rate
20-40% 27 $3,195,000 $118,333 $4,575 2.60%
40-60% 96 $16,150,000 $168,229 $5,154 2.64%
60-80% 169 $34,675,000 $205,178 $5,986 2.92%
80-100% 96 $21,330,000 $222,188 $6,183 2.90%
Over 100% 1 $195,000 $195,000 $5,870 2.75%
Under 20% 1 $65,000 $65,000 $3,456 2.38%

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%