Credit Union Financial Services Mortgage Rates, Fees & Info
Suwanee, GALEI: 549300VKT6APHQW3YT06
Tax ID: 51-0415301
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Mortgage 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
390Origination Dollar Volume (All Markets)
$75,610,000Awards
CREDIT UNION FINANCIAL SERVICES - 2021
CREDIT UNION FINANCIAL SERVICES is a 2021 , due to their low .
For 2021, less than of lenders were eligible for this award.
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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 applications91.97%
Credit Union Financial Services has an average approval rate.
Pick Rate
Approvals leading to origination75.09%
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% |
