Union Square Mortgage Rates, Fees & Info

Wichita Falls, TX

LEI: 549300Z2FPZZD55OG155

Tax ID: 75-0971964

5 stars - Updated: 6/9/24 - out of 5 stars, based on 19 reviews

Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data

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Mortgage Data

Review & Overview

Union Square is a smaller credit union specializing in Home Purchase loans. Union Square has a high proportion of conventional loans. They have an average proportion of FHA loans. Their top markets by origination volume include: Wichita Falls, Dallas, Mineral Wells, Boston, and New Castle among others. We have data for 16 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 relatively high 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.

SimulatedRates™

Mortgage Type
Simulated Rate Simulation Date
30 Year Conventional Purchase 6.51% 6/9/24
30 Year Conventional Refi 6.66% 6/9/24
30 Year Cash-out Refi 6.47% 6/9/24
30 Year FHA Purchase 7.03% 6/9/24
30 Year VA Purchase 6.27% 6/9/24
15 Year Conventional Purchase 5.97% 6/9/24
15 Year Conventional Refi 6.37% 6/9/24
15 Year Cash-out Refi 6.37% 6/9/24
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.

Union Square Mortgage Calculator






Your Estimates

Estimated Loan Payment: Update the calculator values and click calculate payment!

This is not an official calculator from Union Square. It uses our SimulatedRate™ technology, basic math and reasonable assumptions to calculate mortgage payments derived from our simulations and your inputs.

The default purchase price is the median sales price across the US for 2022Q4, per FRED.


Originations

364

Origination Dollar Volume (All Markets)

$80,520,000

Awards

UNION SQUARE FHA Loans silver UNION SQUARE VA Loans silver UNION SQUARE FHA Loans gold UNION SQUARE FHA Loans silver
Show all (4) awards

Relative Rate

Union Square's average 30 year fixed mortgage rate was 6.72%.

The 2023 average 30 year fixed rate mortgage across all markets and lenders was 6.48%.

This yields a difference of 0.24%.

Relative Fees (Closing Costs)

Union Square's average total fees/closing costs for a 30 year fixed rate mortgage were $5,028.

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 $9,089.

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
WICHITA FALLS, TX (FHA|USDA|VA) 316 $62,570,000 $198,006 $4,472 7.47%
Dallas-Fort Worth-Arlington, TX (FHA|USDA|VA) 24 $10,230,000 $426,250 $7,645 6.94%
Mineral Wells, TX (FHA|USDA|VA) 2 $1,720,000 $860,000 $11,054 8.13%
Boston-Cambridge-Newton, MA-NH (FHA|USDA|VA) 1 $1,465,000 $1,465,000 $7,026 6.00%
Outside of Metro Areas 7 $885,000 $126,429 $4,484 6.84%
New Castle, IN (FHA|USDA|VA) 1 $545,000 $545,000 $3,605 6.88%
Vernon, TX (FHA|USDA|VA) 2 $510,000 $255,000 $4,380 6.94%
Taos, NM (FHA|USDA|VA) 1 $495,000 $495,000 $3,270 7.25%
LITTLE ROCK-NORTH LITTLE ROCK-CONWAY, AR (FHA|USDA|VA) 1 $365,000 $365,000 $3,213 6.50%
HOUSTON-THE WOODLANDS-SUGAR LAND, TX (FHA|USDA|VA) 2 $350,000 $175,000 $4,354 6.69%
OKLAHOMA CITY, OK (FHA|USDA|VA) 1 $295,000 $295,000 $3,958 7.50%
LAWTON, OK (FHA|USDA|VA) 2 $260,000 $130,000 $4,071 6.38%
AMARILLO, TX (FHA|USDA|VA) 1 $255,000 $255,000 $4,674 6.63%
ABILENE, TX (FHA|USDA|VA) 1 $235,000 $235,000 $3,584 6.75%
Altus, OK (FHA|USDA|VA) 1 $175,000 $175,000 $6,556 6.13%
VIRGINIA BEACH-NORFOLK-NEWPORT NEWS, VA-NC (FHA|USDA|VA) 1 $165,000 $165,000 $3,003 6.88%
Union Square's top markets include Wichita Falls, Dallas, Mineral Wells, Boston, and New Castle among others.

Their top states include:
  • Texas (FHA|USDA|VA)
  • Massachusetts (FHA|USDA|VA)
  • Oklahoma (FHA|USDA|VA)
  • Indiana (FHA|USDA|VA)
  • New Mexico (FHA|USDA|VA)
  • Similar Lenders

    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.

    TEXOMA COMMUNITY CREDIT UNION
    Similarity Rank: 70
    UNION SQUARE
    Similarity Rank: 336
    FC LENDING, LTD.
    Similarity Rank: 645
    East West Bank
    Similarity Rank: 666
    VeraBank
    Similarity Rank: 744
    DATCU
    Similarity Rank: 981
    PRIORITY HOME MORTGAGE, L.P.
    Similarity Rank: 1050
    AAXY L.L.C.
    Similarity Rank: 1088
    Inwood National Bank
    Similarity Rank: 1452

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 313 $69,415,000 $221,773 $4,062 7.55%
    FHA 36 $6,730,000 $186,944 $7,157 6.21%
    VA 15 $4,375,000 $291,667 $7,134 6.93%

    For 2023, Union Square's most frequently originated type of loan was Conventional, with 313 originations. Their 2nd most popular type was FHA, with 36 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 293 $69,685,000 $237,833 $4,973 7.40%
    Refi 30 $5,460,000 $182,000 $3,810 7.44%
    Cash Out Refi 20 $3,040,000 $152,000 $4,176 7.11%
    Other 15 $2,005,000 $133,667 $4,011 7.28%
    Home Improvement 6 $330,000 $55,000 $3,236 7.92%

    For 2023, Union Square's most frequently cited loan purpose was Home Purchase, with 293 originations. The 2nd most popular reason was Refi, with 30 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 196 $44,130,000 $225,153 $5,028 6.72%
    15 Year 69 $13,505,000 $195,725 $3,497 8.09%
    1 Year 68 $18,890,000 $277,794 $0 8.60%
    10 Year 24 $3,180,000 $132,500 $3,345 7.43%
    20 Year 6 $800,000 $133,333 $4,084 7.38%
    5 Year 1 $15,000 $15,000 $0 8.75%

    For 2023, Union Square's most frequently cited loan duration was 30 Year, with 196 originations. The 2nd most popular length was 15 Year, with 69 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 185 $37,705,000 $203,811
    $1k-2k 27 $4,675,000 $173,148
    $2k-3k 13 $2,765,000 $212,692
    $5k+ 5 $2,265,000 $453,000
    $3k-4k 3 $1,225,000 $408,333
    $4k-5k 2 $1,060,000 $530,000

    Union Square's average total fees were $5,028, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 185 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    6-7% 130 $26,900,000 $206,923
    Over 8% 113 $27,905,000 $246,947
    7-8% 89 $18,615,000 $209,157
    5-6% 32 $7,100,000 $221,875

    During 2023, Union Square's average interest rate for loans was 6.72%, while their most frequently originated rate bucket for loans was 6-7%, with 130 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100k-200k 143 $20,935,000 $146,399 $4,202 7.27%
    $200k-400k 106 $28,530,000 $269,151 $5,773 7.32%
    $100,000 or less 85 $6,055,000 $71,235 $3,259 7.67%
    $400k-600k 17 $8,205,000 $482,647 $6,289 7.09%
    $1MM+ 7 $12,105,000 $1,729,286 $10,250 8.07%
    $600k-1MM 6 $4,690,000 $781,667 $10,128 7.85%

    2023 saw Union Square place emphasis on $100k-200k loans with 143 originations, totaling $20,935,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 77 $14,875,000 $193,182 $5,015 7.23%
    $50k-75k 77 $11,395,000 $147,987 $4,875 7.33%
    $75k-100k 56 $10,720,000 $191,429 $4,780 6.83%
    $50k or less 35 $3,435,000 $98,143 $3,822 7.08%
    $150k-250k 32 $9,100,000 $284,375 $4,609 7.21%
    $250k+ 12 $7,080,000 $590,000 $6,073 6.77%

    Union Square lent most frequently to those with incomes in the $100k-150k range, with 77 originations. The second most popular income band? $50k-75k, with 77 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    50-60% 42 $11,040,000 $262,857 $5,157 7.09%
    30-36% 42 $8,740,000 $208,095 $4,204 6.84%
    20-30% 36 $5,680,000 $157,778 $3,594 6.63%
    44% 13 $1,905,000 $146,538 $5,547 6.60%
    48% 12 $2,570,000 $214,167 $6,064 6.52%
    43% 12 $2,820,000 $235,000 $5,017 6.76%
    46% 11 $2,345,000 $213,182 $4,756 7.19%
    49% 10 $1,980,000 $198,000 $5,219 6.49%
    <20% 10 $860,000 $86,000 $3,164 6.91%
    39% 9 $3,195,000 $355,000 $5,158 6.50%
    47% 8 $1,430,000 $178,750 $5,258 6.55%
    41% 6 $1,260,000 $210,000 $3,718 6.96%
    45% 6 $1,070,000 $178,333 $4,639 7.15%
    42% 5 $1,345,000 $269,000 $4,368 6.83%
    38% 5 $1,435,000 $287,000 $8,873 6.75%
    37% 4 $1,080,000 $270,000 $5,790 6.38%
    36% 4 $540,000 $135,000 $4,425 6.75%
    40% 3 $435,000 $145,000 $4,358 6.83%
    >60% 1 $295,000 $295,000 $3,958 7.50%

    Union Square lent most frequently to those with DTI ratios of 50-60%, with 42 originations. The next most common DTI ratio? 30-36%, with 42 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 236 $47,800,000 $202,542 $4,682 7.18%
    Not applicable 72 $23,520,000 $326,667 $0 8.43%
    Not provided 36 $5,970,000 $165,833 $4,863 7.03%
    Black 15 $2,085,000 $139,000 $4,894 6.93%
    Asian 4 $1,010,000 $252,500 $5,358 6.72%
    American Indian 1 $135,000 $135,000 $5,782 5.63%

    Approval Rates

    Total approvals of all applications
    97.32%

    Union Square has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.

    Pick Rate

    Approvals leading to origination
    80.49%

    Union Square has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 364 $80,520,000 $221,209

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    364 $80,520,000 $221,209

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 15 $1,525,000 $101,667 $3,731 7.10%
    40-60% 25 $4,645,000 $185,800 $3,681 7.52%
    60-80% 104 $20,430,000 $196,442 $3,873 7.52%
    80-100% 211 $52,845,000 $250,450 $5,303 7.35%
    Over 100% 3 $735,000 $245,000 $8,872 6.75%
    Under 20% 5 $295,000 $59,000 $2,521 7.10%