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

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

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Mortgage Data

  • SimulatedRates™
  • Review & 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 by origination volume include: Atlanta, Macon, Warner Robins, Savannah, and Milledgeville among others. We have data for 24 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Credit Union Financial Services has an above average approval rate when compared to the average across all lenders. They have a below average pick rate when compared to similar lenders. Credit Union Financial Services is typically an average 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.

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    SimulatedRates™

    Mortgage Type
    Simulated Rate Simulation Date
    30 Year Conventional Purchase 6.81% 11/26/22
    30 Year Conventional Refi 6.81% 11/26/22
    30 Year Cash-out Refi 7.02% 11/26/22
    30 Year FHA Purchase 7.72% 11/26/22
    30 Year FHA Refi 7.68% 11/26/22
    30 Year VA Purchase 6.63% 11/26/22
    30 Year VA Refi 6.05% 11/26/22
    30 Year USDA Purchase 6.94% 11/26/22
    30 Year USDA Refi 6.61% 11/26/22
    15 Year Conventional Purchase 6.11% 11/26/22
    15 Year Conventional Refi 6.16% 11/26/22
    15 Year Cash-out Refi 6.16% 11/26/22
    15 Year FHA Purchase 5.90% 11/26/22
    15 Year FHA Refi 5.90% 11/26/22
    15 Year VA Refi 5.90% 11/26/22
    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.


    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 mortgage rate was 3.05%.

    The 2021 average 30 year fixed rate mortgage across all markets and lenders was 3.15%.

    This yields a difference of -0.1%.

    Relative Fees (Closing Costs)

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

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

    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
    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.

    Their top states include:
  • Georgia (FHA|USDA|VA)
  • Alabama (FHA|USDA|VA)
  • South Carolina (FHA|USDA|VA)
  • Similar Lenders

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

    GEOVISTA
    Similarity Rank: 236
    Emory Alliance Credit Union
    Similarity Rank: 305
    Credence Funding Corporation
    Similarity Rank: 707
    AMERICAN HOME MORTGAGE, INC.
    Similarity Rank: 1218
    Aurora Financial, LLC
    Similarity Rank: 2263
    POWERCO
    Similarity Rank: 2296
    CDC Federal Credit Union
    Similarity Rank: 2496
    LGE COMMUNITY
    Similarity Rank: 2755

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. 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 2021, Credit Union Financial Services's most frequently originated type of loan was Conventional, with 370 originations. Their 2nd most popular type was FHA, with 10 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. 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 2021, Credit Union Financial Services's most frequently cited loan purpose was Cash Out Refi, with 170 originations. The 2nd most popular reason was 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 2021, Credit Union Financial Services's most frequently cited loan duration was 30 Year, with 222 originations. The 2nd most popular length was 15 Year, with 124 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost 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 12 $3,260,000 $271,667
    $4k-5k 6 $3,220,000 $536,667
    $5k+ 3 $985,000 $328,333

    Credit Union Financial Services's average total fees were $6,247, while their most frequently occuring range of origination fees (closing costs) 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 for loans was 3.05%, while their most frequently originated rate bucket for loans was 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
    94.39%

    Credit Union Financial Services has an average approval rate.

    Pick Rate

    Approvals leading to origination
    61.28%

    Credit Union Financial Services 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 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%