Union Square Mortgage Rates, Fees & Info

Wichita Falls, TX

LEI: 549300Z2FPZZD55OG155

Tax ID: 75-0971964

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

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Mortgage Data

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 an average proportion of FHA loans. Their top markets by origination volume include: Wichita Falls, Dallas, Lawton, Mineral Wells, and Waco among others. We have data for 20 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% 3/28/24
30 Year Conventional Refi 6.66% 3/28/24
30 Year Cash-out Refi 6.47% 3/28/24
30 Year FHA Purchase 7.03% 3/28/24
30 Year VA Purchase 6.27% 3/28/24
15 Year Conventional Purchase 5.97% 3/28/24
15 Year Conventional Refi 6.37% 3/28/24
15 Year Cash-out Refi 6.37% 3/28/24
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

596

Origination Dollar Volume (All Markets)

$115,210,000
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) 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.

Their top states include:
  • Texas (FHA|USDA|VA)
  • Oklahoma (FHA|USDA|VA)
  • North Carolina (FHA|USDA|VA)
  • Colorado (FHA|USDA|VA)
  • Georgia (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: 76
    AAXY L.L.C.
    Similarity Rank: 540
    First United Bank
    Similarity Rank: 735
    U S WIDE FINANCIAL LLC
    Similarity Rank: 924
    CAPITAL PLUS FINANCIAL, LLC
    Similarity Rank: 1200
    Credence Funding Corporation
    Similarity Rank: 1313
    WESTSTAR MORTGAGE CORPORATION
    Similarity Rank: 1408
    LOANFLIGHT LENDING, LLC
    Similarity Rank: 1950
    TEXANS
    Similarity Rank: 2057
    FC LENDING, LTD.
    Similarity Rank: 2172

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. 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 2021, Union Square's most frequently originated type of loan was Conventional, with 512 originations. Their 2nd most popular type was VA, with 43 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. 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 2021, Union Square's most frequently cited loan purpose was Home Purchase, with 364 originations. The 2nd most popular reason was 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 2021, Union Square's most frequently cited loan duration was 30 Year, with 330 originations. The 2nd most popular length was 15 Year, with 112 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 426 $81,940,000 $192,347
    $1k-2k 19 $4,715,000 $248,158
    $2k-3k 5 $1,355,000 $271,000
    $5k+ 4 $4,220,000 $1,055,000
    $3k-4k 3 $865,000 $288,333
    $4k-5k 3 $1,335,000 $445,000

    Union Square's average total fees were $4,337, while their most frequently occuring range of origination fees (closing costs) 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 for loans was 2.92%, while their most frequently originated rate bucket for loans was 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
    93.88%

    Union Square has an average approval rate.

    Pick Rate

    Approvals leading to origination
    84.23%

    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%