Union Square Mortgage Rates, Fees & Info

Wichita Falls, TX

LEI: 549300Z2FPZZD55OG155

Tax ID: 75-0971964

5 stars - out of 5 stars, based on 24 reviews

2021 Data | 2020 Data | 2019 Data | 2018 Data


Overview

Union Square is a smaller credit union specializing in Home Purchase and Refi loans. Union Square has a high proportion of conventional loans. They have an average proportion of FHA loans. Their top markets include Wichita Falls, Dallas, Lawton, Mineral Wells, and Waco among others. Union Square 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. Union Square is typically an average fee lendor.


Originations

596

Origination Dollar Volume (All Markets)

$115,210,000
Show all (6) awards

Relative Rate

Union Square's average 30 year fixed rate mortgage of loans were 2.92%.

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

This yields a difference of -0.23%.

Relative Fees

Union Square's average total fees for a 30 year fixed rate mortgage are $4,337.

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
WICHITA FALLS, TX (FHA|USDA|VA) 532 $94,600,000 $177,820 $3,866 3.39%
Dallas-Fort Worth-Arlington, TX (FHA|USDA|VA) 22 $6,830,000 $310,455 $4,223 3.05%
LAWTON, OK (FHA|USDA|VA) 4 $3,100,000 $775,000 $0 4.50%
Outside of Metro Areas 12 $2,680,000 $223,333 $4,702 3.34%
Mineral Wells, TX (FHA|USDA|VA) 3 $2,155,000 $718,333 $9,209 3.13%
WACO, TX (FHA|USDA|VA) 3 $885,000 $295,000 $3,615 2.96%
Vernon, TX (FHA|USDA|VA) 5 $655,000 $131,000 $3,961 2.60%
SAN ANTONIO-NEW BRAUNFELS, TX (FHA|USDA|VA) 2 $630,000 $315,000 $7,605 2.63%
ABILENE, TX (FHA|USDA|VA) 1 $615,000 $615,000 $0 4.75%
Kerrville, TX (FHA|USDA|VA) 1 $485,000 $485,000 $4,037 2.75%
TULSA, OK (FHA|USDA|VA) 2 $460,000 $230,000 $3,679 2.50%
SHERMAN-DENISON, TX (FHA|USDA|VA) 1 $425,000 $425,000 $3,387 3.75%
CHARLOTTE-CONCORD-GASTONIA, NC-SC (FHA|USDA|VA) 1 $405,000 $405,000 $6,803 2.88%
BRUNSWICK, GA (FHA|USDA|VA) 1 $385,000 $385,000 $17,213 2.75%
CHARLESTON-NORTH CHARLESTON, SC (FHA|USDA|VA) 1 $205,000 $205,000 $2,159 2.38%
GREAT FALLS, MT (FHA|USDA|VA) 1 $175,000 $175,000 $3,051 2.25%
Elizabeth City, NC (FHA|USDA|VA) 1 $165,000 $165,000 $2,673 2.50%
HOUSTON-THE WOODLANDS-SUGAR LAND, TX (FHA|USDA|VA) 1 $135,000 $135,000 $2,996 3.13%
Gainesville, TX (FHA|USDA|VA) 1 $115,000 $115,000 $0 4.50%
Stillwater, OK (FHA|USDA|VA) 1 $105,000 $105,000 $3,051 3.38%

Union Square's top markets include Wichita Falls, Dallas, Lawton, Mineral Wells, and Waco among others.

Product Mix

Loan Type Originations Total Value Average Loan Average Fees Average Rate
Conventional 512 $97,620,000 $190,664 $3,428 3.49%
VA 43 $11,045,000 $256,860 $6,928 2.59%
FHA 41 $6,545,000 $159,634 $5,962 2.65%

For the 2021 period, Union Square's most frequently originated loan type of loans were Conventional, with 512 originations. Their 2nd most popular type is VA, with 43 originations.

Loan Reason

Loan Reason Originations Total Value Average Loan Average Fees Average Rate
Home Purchase 364 $64,250,000 $176,511 $4,559 3.51%
Refi 139 $36,245,000 $260,755 $3,291 3.01%
Cash Out Refi 74 $13,080,000 $176,757 $3,352 3.23%
Other 10 $940,000 $94,000 $3,028 3.15%
Home Improvement 9 $695,000 $77,222 $1,351 4.21%

For the 2021, Union Square's most frequently cited loan purpose of loans were Home Purchase, with 364 originations. The 2nd most popular reason of loans were Refi, with 139 originations.

Loan Duration/Length

Loan Length Originations Total Value Average Loan Average Fees Average Rate
30 Year 330 $70,840,000 $214,667 $4,337 2.92%
15 Year 112 $18,300,000 $163,393 $3,139 3.22%
5 Year 63 $10,425,000 $165,476 $0 4.64%
10 Year 53 $9,325,000 $175,943 $3,153 4.38%
20 Year 16 $2,680,000 $167,500 $3,121 3.34%
Other 16 $2,090,000 $130,625 $4,032 4.59%
1 Year 5 $1,295,000 $259,000 $0 5.35%
3 Year 1 $255,000 $255,000 $3,457 2.25%

For the 2021, Union Square's most frequently cited loan length of loans were 30 Year, with 330 originations. The 2nd most popular length of loans were 15 Year, with 112 originations.

Origination Fees

Origination Fee Originations Total Value Average Loan
$<1k 426 $81,940,000 $192,347
$1k-2k 19 $4,715,000 $248,158
$3k-4k 6 $2,200,000 $366,667
$2k-3k 5 $1,355,000 $271,000
$5k+ 4 $4,220,000 $1,055,000

$4,337 of loans were Union Square's average total fees, while their most frequently occuring range of origination fees were in the $<1k bucket, with 426 originations.

Interest Rates

Loan Rate Originations Total Value Average Loan
2.5-3% 176 $36,400,000 $206,818
3-4% 141 $28,425,000 $201,596
<2.5% 129 $25,665,000 $198,953
4-5% 124 $21,800,000 $175,806
5-6% 23 $2,775,000 $120,652
6-7% 3 $145,000 $48,333

During 2021, Union Square's average interest rate of loans were 2.92%, while their most frequently originated rate bucket of loans were 2.5-3%, with 176 originations.

Loan Sizing

Loan Size Originations Total Value Average Loan Average Fees Average Rate
$100k-200k 221 $31,855,000 $144,140 $3,586 3.19%
$200k-400k 168 $45,410,000 $270,298 $4,543 3.03%
$100,000 or less 165 $11,335,000 $68,697 $2,688 3.93%
$400k-600k 34 $16,040,000 $471,765 $5,954 3.22%
$1MM+ 4 $7,350,000 $1,837,500 $14,557 4.09%
$600k-1MM 4 $3,220,000 $805,000 $9,983 4.16%

2021 saw Union Square place emphasis on $100k-200k loans with 221 originations, totaling $31,855,000 in origination value.

Applicant Income

Applicant Income Originations Total Value Average Loan Average Fees Average Rate
$50k-75k 134 $20,840,000 $155,522 $3,855 3.02%
$100k-150k 110 $22,850,000 $207,727 $3,925 3.02%
$75k-100k 88 $17,840,000 $202,727 $4,073 3.02%
$50k or less 84 $9,500,000 $113,095 $3,301 3.19%
$150k-250k 75 $19,475,000 $259,667 $4,568 3.43%
$250k+ 24 $9,660,000 $402,500 $7,048 3.68%

Union Square lent most frequently to those with incomes in the $50k-75k range, with 134 originations. The second most popular income band? $100k-150k, with 110 originations.

Applicant Debt to Income Ratio

DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
30-36% 99 $20,795,000 $210,051 $4,215 2.97%
20-30% 94 $17,510,000 $186,277 $3,532 2.85%
<20% 41 $7,315,000 $178,415 $3,271 2.90%
41% 23 $4,705,000 $204,565 $4,121 2.99%
50-60% 23 $6,595,000 $286,739 $4,891 3.46%
48% 18 $3,780,000 $210,000 $3,536 3.05%
39% 17 $4,185,000 $246,176 $5,246 2.81%
36% 17 $3,435,000 $202,059 $4,181 2.82%
37% 17 $2,835,000 $166,765 $3,393 3.15%
40% 17 $3,505,000 $206,176 $4,582 3.01%
43% 16 $3,080,000 $192,500 $4,363 2.98%
45% 16 $3,140,000 $196,250 $3,342 3.00%
44% 15 $2,535,000 $169,000 $3,295 3.13%
42% 13 $2,895,000 $222,692 $4,460 2.88%
46% 13 $2,045,000 $157,308 $4,130 2.88%
49% 13 $3,085,000 $237,308 $4,811 2.95%
47% 10 $2,100,000 $210,000 $3,393 3.09%
38% 7 $1,295,000 $185,000 $4,214 3.11%
>60% 3 $795,000 $265,000 $4,441 3.29%

Union Square lent most frequently to those with DTI ratios of 30-36%, with 99 originations. The next most common DTI ratio? 20-30%, with 94 originations.

Ethnicity Mix

Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
White 451 $89,835,000 $199,191 $4,030 3.12%
Not applicable 75 $13,215,000 $176,200 $0 4.87%
Not provided 40 $6,620,000 $165,500 $3,333 3.25%
Asian 17 $2,775,000 $163,235 $4,248 3.35%
Black 10 $2,350,000 $235,000 $4,058 4.10%
American Indian 3 $415,000 $138,333 $2,686 2.42%

Approval Rates

Total approvals of all applications
94.41%

Union Square has an average approval rate.

Pick Rate

Approvals leading to origination
84.82%

Union Square has a below average pick rate.

Points and Fees

Points Originations Total Value Average Loan
NA 596 $115,210,000 $193,305

Occupancy Type Mix

Dwelling Type Originations Total Value Average Loan
596 $115,210,000 $193,305

LTV Distribution

Loan to Value Originations Total Value Average Loan Average Fees Average Rate
20-40% 24 $2,490,000 $103,750 $2,849 3.06%
40-60% 58 $8,530,000 $147,069 $3,270 3.20%
60-80% 198 $41,470,000 $209,444 $3,460 3.39%
80-100% 300 $59,110,000 $197,033 $4,225 3.42%
Over 100% 9 $2,655,000 $295,000 $12,942 2.72%
Under 20% 7 $955,000 $136,429 $2,901 3.54%