Union Square Mortgage Rates, Fees & Info

Wichita Falls, TX

LEI: 549300Z2FPZZD55OG155

Tax ID: 75-0971964

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

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  • SimulatedRates™
  • Mortgage Calculator

    • Mortgage Data

  • Originations
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • Similar Lenders
  • Loan Length
  • Loan to Value Info
  • Debt-to-Income
  • Applicant Income
  • Ethnicity Info
  • Approval & Pick Rates
  • Points and Fees
  • Origination Fees (Closing Costs)

    • Review & 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 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, Mineral Wells, Austin, and Vernon 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 a low 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.

    SimulatedRates™

    Mortgage Type     		Simulated Rate Simulation Date
    30 Year Conventional Purchase 6.51% 12/16/24
    30 Year Conventional Refi 6.66% 12/16/24
    30 Year Cash-out Refi 6.47% 12/16/24
    30 Year FHA Purchase 7.03% 12/16/24
    30 Year VA Purchase 6.27% 12/16/24
    15 Year Conventional Purchase 5.97% 12/16/24
    15 Year Conventional Refi 6.37% 12/16/24
    15 Year Cash-out Refi 6.37% 12/16/24
    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

    675

    Origination Dollar Volume (All Markets)

    $112,925,000
    Show all (6) awards

    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) 615 $99,305,000 $161,472 $3,415 3.50%
    Dallas-Fort Worth-Arlington, TX (FHA|USDA|VA) 21 $6,525,000 $310,714 $3,911 2.96%
    Outside of Metro Areas 10 $1,270,000 $127,000 $3,201 3.49%
    Mineral Wells, TX (FHA|USDA|VA) 3 $765,000 $255,000 $4,739 3.83%
    AUSTIN-ROUND ROCK-GEORGETOWN, TX (FHA|USDA|VA) 2 $640,000 $320,000 $4,320 3.13%
    Vernon, TX (FHA|USDA|VA) 4 $580,000 $145,000 $4,891 3.88%
    Granbury, TX (FHA|USDA|VA) 1 $445,000 $445,000 $3,532 3.13%
    ABILENE, TX (FHA|USDA|VA) 2 $400,000 $200,000 $3,840 3.00%
    WACO, TX (FHA|USDA|VA) 1 $395,000 $395,000 $4,255 2.63%
    OKLAHOMA CITY, OK (FHA|USDA|VA) 3 $335,000 $111,667 $2,610 4.38%
    Jackson, WY-ID (FHA|USDA|VA) 1 $335,000 $335,000 $3,846 2.88%
    SHERMAN-DENISON, TX (FHA|USDA|VA) 1 $265,000 $265,000 $3,886 2.50%
    LITTLE ROCK-NORTH LITTLE ROCK-CONWAY, AR (FHA|USDA|VA) 1 $265,000 $265,000 $2,726 3.25%
    MCALLEN-EDINBURG-MISSION, TX (FHA|USDA|VA) 1 $225,000 $225,000 $4,121 3.25%
    SAN DIEGO-CHULA VISTA-CARLSBAD, CA (FHA|USDA|VA) 1 $205,000 $205,000 $2,231 2.50%
    CORPUS CHRISTI, TX (FHA|USDA|VA) 1 $195,000 $195,000 $2,731 2.50%
    Duncan, OK (FHA|USDA|VA) 1 $195,000 $195,000 $2,502 4.50%
    PHOENIX-MESA-CHANDLER, AZ (FHA|USDA|VA) 1 $175,000 $175,000 $2,406 3.13%
    LAWTON, OK (FHA|USDA|VA) 2 $170,000 $85,000 $0 4.75%
    LAS CRUCES, NM (FHA|USDA|VA) 1 $145,000 $145,000 $2,693 2.75%
    Palestine, TX (FHA|USDA|VA) 1 $65,000 $65,000 $3,520 3.38%
    Altus, OK (FHA|USDA|VA) 1 $25,000 $25,000 $0 5.25%
    Union Square's top markets include Wichita Falls, Dallas, Mineral Wells, Austin, and Vernon among others.

    Their top states include:
  • Texas (FHA|USDA|VA)
  • Oklahoma (FHA|USDA|VA)
  • Idaho (FHA|USDA|VA)
  • Arkansas (FHA|USDA|VA)
  • California (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: 90
    AAXY L.L.C.
    Similarity Rank: 522
    Beeline Loans, Inc.
    Similarity Rank: 989
    U S WIDE FINANCIAL LLC
    Similarity Rank: 1292
    Credence Funding Corporation
    Similarity Rank: 1320
    CAPITAL PLUS FINANCIAL, LLC
    Similarity Rank: 1620
    TEXAS TRUST
    Similarity Rank: 1885
    DATCU
    Similarity Rank: 1900
    WESTSTAR MORTGAGE CORPORATION
    Similarity Rank: 1932
    FC LENDING, LTD.
    Similarity Rank: 2112

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 577 $95,635,000 $165,745 $2,901 3.58%
    VA 61 $12,895,000 $211,393 $6,638 2.90%
    FHA 37 $4,395,000 $118,784 $4,800 2.86%

    For 2020, Union Square's most frequently originated type of loan was Conventional, with 577 originations. Their 2nd most popular type was VA, with 61 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 383 $58,145,000 $151,815 $4,039 3.62%
    Refi 198 $41,640,000 $210,303 $2,834 3.18%
    Cash Out Refi 70 $10,850,000 $155,000 $2,743 3.41%
    Other 13 $1,745,000 $134,231 $2,576 3.78%
    Home Improvement 11 $545,000 $49,545 $1,514 4.39%

    For 2020, Union Square's most frequently cited loan purpose was Home Purchase, with 383 originations. The 2nd most popular reason was Refi, with 198 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 330 $63,960,000 $193,818 $3,938 3.04%
    15 Year 135 $21,805,000 $161,519 $2,650 3.12%
    10 Year 87 $13,305,000 $152,931 $2,852 4.10%
    5 Year 81 $8,015,000 $98,951 $0 4.87%
    20 Year 20 $3,670,000 $183,500 $2,807 3.12%
    1 Year 17 $1,775,000 $104,412 $971 5.65%
    Other 4 $370,000 $92,500 $2,580 2.97%
    3 Year 1 $25,000 $25,000 $0 5.00%

    For 2020, Union Square's most frequently cited loan duration was 30 Year, with 330 originations. The 2nd most popular length was 15 Year, with 135 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 517 $88,485,000 $171,151
    $1k-2k 32 $7,190,000 $224,688
    $2k-3k 4 $1,410,000 $352,500
    $5k+ 3 $2,035,000 $678,333

    Union Square's average total fees were $3,938, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 517 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    3-4% 237 $40,165,000 $169,473
    2.5-3% 153 $31,935,000 $208,725
    <2.5% 115 $21,605,000 $187,870
    4-5% 115 $13,965,000 $121,435
    5-6% 55 $5,255,000 $95,545

    During 2020, Union Square's average interest rate for loans was 3.04%, while their most frequently originated rate bucket for loans was 3-4%, with 237 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100k-200k 260 $37,070,000 $142,577 $3,377 3.30%
    $100,000 or less 225 $15,085,000 $67,044 $2,439 4.04%
    $200k-400k 159 $42,775,000 $269,025 $4,249 3.04%
    $400k-600k 24 $11,250,000 $468,750 $4,336 3.11%
    $600k-1MM 4 $2,640,000 $660,000 $7,465 4.25%
    $1MM+ 3 $4,105,000 $1,368,333 $9,242 3.58%

    2020 saw Union Square place emphasis on $100k-200k loans with 260 originations, totaling $37,070,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 156 $20,370,000 $130,577 $3,273 3.21%
    $100k-150k 129 $26,925,000 $208,721 $3,985 3.23%
    $75k-100k 122 $19,640,000 $160,984 $3,399 3.32%
    $50k or less 86 $7,630,000 $88,721 $3,005 3.49%
    $150k-250k 72 $17,890,000 $248,472 $3,682 3.28%
    $250k+ 29 $8,625,000 $297,414 $4,487 3.75%

    Union Square lent most frequently to those with incomes in the $50k-75k range, with 156 originations. The second most popular income band? $100k-150k, with 129 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 150 $27,350,000 $182,333 $3,338 3.00%
    30-36% 92 $17,420,000 $189,348 $3,353 3.21%
    <20% 51 $8,135,000 $159,510 $3,416 2.95%
    50-60% 50 $7,470,000 $149,400 $2,963 3.61%
    42% 22 $3,530,000 $160,455 $3,355 2.97%
    39% 20 $2,860,000 $143,000 $3,635 3.13%
    43% 19 $3,615,000 $190,263 $3,110 3.34%
    41% 18 $3,560,000 $197,778 $4,694 3.37%
    36% 17 $3,155,000 $185,588 $4,011 3.07%
    37% 17 $2,815,000 $165,588 $4,519 3.00%
    46% 17 $3,035,000 $178,529 $4,042 3.45%
    47% 14 $3,140,000 $224,286 $2,729 3.43%
    38% 13 $1,985,000 $152,692 $3,505 2.86%
    45% 13 $2,045,000 $157,308 $2,862 3.02%
    40% 11 $2,205,000 $200,455 $3,440 3.05%
    44% 10 $2,560,000 $256,000 $5,421 3.05%
    49% 10 $2,030,000 $203,000 $3,195 3.59%
    48% 9 $1,565,000 $173,889 $3,451 3.21%
    >60% 7 $1,015,000 $145,000 $2,105 3.32%

    Union Square lent most frequently to those with DTI ratios of 20-30%, with 150 originations. The next most common DTI ratio? 30-36%, with 92 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 551 $96,265,000 $174,710 $3,446 3.29%
    Not applicable 63 $9,295,000 $147,540 $0 5.06%
    Not provided 29 $2,775,000 $95,690 $3,050 3.94%
    Asian 17 $2,665,000 $156,765 $3,429 3.18%
    Black 9 $1,195,000 $132,778 $3,574 3.54%
    American Indian 5 $565,000 $113,000 $3,863 3.38%
    Native Hawaiian or Islander 1 $165,000 $165,000 $2,283 2.88%

    Approval Rates

    Total approvals of all applications
    96.11%

    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
    86.67%

    Union Square has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 675 $112,925,000 $167,296

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Site-Built 5 $3,705,000 $741,000
    Single Family (1-4 Units):Manufactured 1 $105,000 $105,000
    Single Family (1-4 Units):Site-Built 669 $109,115,000 $163,102

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 25 $2,695,000 $107,800 $2,328 3.69%
    40-60% 56 $8,540,000 $152,500 $2,698 3.06%
    60-80% 222 $39,220,000 $176,667 $3,006 3.47%
    80-100% 341 $57,825,000 $169,575 $3,591 3.53%
    Over 100% 17 $3,765,000 $221,471 $9,855 2.96%
    Under 20% 14 $880,000 $62,857 $1,601 4.54%