Union Square Mortgage Rates, Fees & InfoWichita Falls, TX
Tax ID: 75-0971964
Latest/2022 | 2021 Data | 2020 Data | 2019 Data | 2018 Data
Review & OverviewUnion Square is a smaller credit union specializing in loans. Union Square 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.) Their top markets by origination volume include: Wichita Falls, Dallas, Cape Coral, Vernon, and Abilene among others. We have data for 22 markets. (Some data included below & more in-depth data is available with an active subscription.)
Union Square 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. Union Square 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.
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.
|Simulated Rate||Simulation Date|
|30 Year Conventional Purchase||6.51%||3/28/23|
|30 Year Conventional Refi||6.66%||3/28/23|
|30 Year Cash-out Refi||6.47%||3/28/23|
|30 Year FHA Purchase||7.03%||3/28/23|
|30 Year VA Purchase||6.27%||3/28/23|
|15 Year Conventional Purchase||5.97%||3/28/23|
|15 Year Conventional Refi||6.37%||3/28/23|
|15 Year Cash-out Refi||6.37%||3/28/23|
|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.|
Origination Dollar Volume (All Markets)$87,530,000
Union Square's average 30 year fixed mortgage rate was
The 2022 average 30 year fixed rate mortgage across all markets and lenders was 4.76%.
This yields a difference of 0.28%.
Relative Fees (Closing Costs)
Union Square's average total fees/closing costs for a 30 year fixed rate
mortgage were $4,786.
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.
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|
|WICHITA FALLS, TX (FHA|USDA|VA)||353||$69,105,000||$195,765||$4,186||5.18%|
|Dallas-Fort Worth-Arlington, TX (FHA|USDA|VA)||25||$7,855,000||$314,200||$5,924||5.17%|
|Outside of Metro Areas||13||$2,715,000||$208,846||$5,050||5.01%|
|CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA)||1||$1,535,000||$1,535,000||$36,050||3.75%|
|Vernon, TX (FHA|USDA|VA)||7||$995,000||$142,143||$4,765||4.43%|
|ABILENE, TX (FHA|USDA|VA)||3||$755,000||$251,667||$3,807||6.04%|
|Taos, NM (FHA|USDA|VA)||1||$675,000||$675,000||$6,755||6.38%|
|KANSAS CITY, MO-KS (FHA|USDA|VA)||1||$535,000||$535,000||$4,769||7.38%|
|ATLANTA-SANDY SPRINGS-ALPHARETTA, GA (FHA|USDA|VA)||2||$490,000||$245,000||$3,576||4.88%|
|MIDLAND, TX (FHA|USDA|VA)||1||$445,000||$445,000||$8,076||5.63%|
|KILLEEN-TEMPLE, TX (FHA|USDA|VA)||1||$405,000||$405,000||$5,147||6.00%|
|SANTA FE, NM (FHA|USDA|VA)||1||$325,000||$325,000||$6,928||2.88%|
|Gainesville, TX (FHA|USDA|VA)||1||$295,000||$295,000||$4,940||7.13%|
|LAWTON, OK (FHA|USDA|VA)||2||$240,000||$120,000||$4,390||4.13%|
|Athens, TX (FHA|USDA|VA)||1||$225,000||$225,000||$3,565||5.75%|
|McAlester, OK (FHA|USDA|VA)||1||$175,000||$175,000||$5,398||7.13%|
|HOUSTON-THE WOODLANDS-SUGAR LAND, TX (FHA|USDA|VA)||1||$175,000||$175,000||$4,115||6.25%|
|Logansport, IN (FHA|USDA|VA)||1||$145,000||$145,000||$2,084||7.13%|
|LUBBOCK, TX (FHA|USDA|VA)||1||$125,000||$125,000||$5,516||3.25%|
|AMARILLO, TX (FHA|USDA|VA)||1||$115,000||$115,000||$0||5.50%|
|Stephenville, TX (FHA|USDA|VA)||1||$115,000||$115,000||$2,879||3.75%|
|EL PASO, TX (FHA|USDA|VA)||1||$85,000||$85,000||$2,994||7.13%|
We use machine learning to identify the top lenders compared against UNION SQUARE based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.
Similarity Rank: 95
Similarity Rank: 360
Similarity Rank: 528
Similarity Rank: 714
Similarity Rank: 968
Similarity Rank: 1027
Similarity Rank: 1170
Similarity Rank: 1200
Similarity Rank: 1400
Similarity Rank: 1448
|Loan Type||Originations||Total Value||Avg. Loan||Avg. Fees||Avg. Rate|
For 2022, Union Square's most frequently originated type of loan was Conventional, with 394 originations. Their 2nd most popular type was FHA, with 19 originations.
For 2022, Union Square's most frequently cited loan purpose was Home Purchase, with 301 originations. The 2nd most popular reason was Cash Out Refi, with 51 originations.
For 2022, Union Square's most frequently cited loan duration was 30 Year, with 214 originations. The 2nd most popular length was 15 Year, with 130 originations.
Origination Fees/Closing Costs
|Origination Fee/Closing Cost||Originations||Total Value||Average Loan|
Union Square's average total fees were $4,786, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 220 originations.
|Loan Rate||Originations||Total Value||Average Loan|
During 2022, Union Square's average interest rate for loans was 5.04%, while their most frequently originated rate bucket for loans was 4-5%, with 123 originations.
2022 saw Union Square place emphasis on $100k-200k loans with 159 originations, totaling $23,455,000 in origination value.
Union Square lent most frequently to those with incomes in the $100k-150k range, with 95 originations. The second most popular income band? $50k-75k, with 82 originations.
Applicant Debt to Income Ratio
Union Square lent most frequently to those with DTI ratios of 30-36%, with 52 originations. The next most common DTI ratio? 20-30%, with 49 originations.
Approval RatesTotal approvals of all applications
Union Square has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.
Pick RateApprovals leading to origination
Union Square has a below average pick rate.
Points and Fees
|Points||Originations||Total Value||Average Loan|