Union Square Mortgage Rates, Fees & Info
Wichita Falls, TXLEI: 549300Z2FPZZD55OG155
Tax ID: 75-0971964
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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 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.
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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
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
420Origination Dollar Volume (All Markets)
$87,530,000Awards
UNION SQUARE - 2022
UNION SQUARE is a 2022 , due to their low .
For 2022, less than of lenders were eligible for this award.
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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) | 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% |
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.
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Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 394 | $82,350,000 | $209,010 | $4,221 | 5.19% |
| FHA | 19 | $3,225,000 | $169,737 | $6,861 | 4.83% |
| VA | 7 | $1,955,000 | $279,286 | $8,078 | 5.23% |
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.
Loan Reason
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.
Loan Duration/Length
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
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.
Interest Rates
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.
Loan Sizing
2022 saw Union Square place emphasis on $100k-200k loans with 159 originations, totaling $23,455,000 in origination value.
Applicant Income
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.
Ethnicity Mix
Approval Rates
Total approvals of all applications97.85%
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 origination80.95%
Union Square has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 420 | $87,530,000 | $208,405 |