Weber State Federal Credit Union Mortgage Rates, Fees & Info

Ogden, UT

LEI: 9845007E2D0BDH6C8955

Tax ID: 87-0238696

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Mortgage Data

Review & Overview

Weber State Federal Credit Union is a smaller credit union specializing in Cash Out Refi and Refi loans. Weber State Federal Credit Union has a high proportion of conventional loans. Their top markets by origination volume include: Ogden, Salt Lake City, Heber, Provo, and Logan among others. We have data for 6 markets. (Some data included below & more in-depth data is available with an active subscription.)

Weber State Federal Credit Union has an above average approval rate when compared to the average across all lenders. They have an above average pick rate when compared to similar lenders. Weber State Federal Credit Union 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.

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SimulatedRates™

Mortgage Type
Simulated Rate Simulation Date
Home Equity Line of Credit (HELOC) 4.39% 10/31/24
30 Year Conventional Purchase 4.98% 10/31/24
30 Year Conventional Refi 4.83% 10/31/24
30 Year Cash-out Refi 5.61% 10/31/24
15 Year Conventional Refi 5.68% 10/31/24
15 Year Cash-out Refi 5.68% 10/31/24
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.

Weber State Federal Credit Union Mortgage Calculator






Your Estimates

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

This is not an official calculator from Weber State Federal Credit Union. 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

209

Origination Dollar Volume (All Markets)

$53,365,000

Awards

WEBER STATE FEDERAL CREDIT UNION 30 Year Conventional Loans silver WEBER STATE FEDERAL CREDIT UNION 30 Year Conventional Loans silver
Show all (2) 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
OGDEN-CLEARFIELD, UT (FHA|USDA|VA) 177 $28,475,000 $160,876 $3,236 3.22%
SALT LAKE CITY, UT (FHA|USDA|VA) 23 $22,985,000 $999,348 $3,524 3.78%
Heber, UT (FHA|USDA|VA) 3 $775,000 $258,333 $4,479 4.00%
PROVO-OREM, UT (FHA|USDA|VA) 3 $695,000 $231,667 $4,572 3.16%
LOGAN, UT-ID (FHA|USDA|VA) 2 $300,000 $150,000 $2,804 5.75%
PHOENIX-MESA-CHANDLER, AZ (FHA|USDA|VA) 1 $135,000 $135,000 $3,174 3.38%
Weber State Federal Credit Union's top markets include Ogden, Salt Lake City, Heber, Provo, and Logan among others.

Their top states include:
  • Utah (FHA|USDA|VA)
  • Arizona (FHA|USDA|VA)
  • Similar Lenders

    We use machine learning to identify the top lenders compared against WEBER STATE FEDERAL CREDIT UNION based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.

    HOMEAMERICAN MORTGAGE CORPORATION
    Similarity Rank: 296
    HORIZON UTAH Federal Credit Union
    Similarity Rank: 350
    WEBER STATE FEDERAL CREDIT UNION
    Similarity Rank: 384
    UTAH COMMUNITY
    Similarity Rank: 506
    CYPRUS Federal Credit Union
    Similarity Rank: 1680
    NEST HOME LENDING, LLC
    Similarity Rank: 1734
    EVERLEND MORTGAGE COMPANY
    Similarity Rank: 2136
    UNITED SECURITY FINANCIAL CORP
    Similarity Rank: 2444
    Cache Valley Bank
    Similarity Rank: 2544

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 154 $49,780,000 $323,247 $3,273 3.37%
    HELOC 54 $3,470,000 $64,259 n/a 3.18%
    VA 1 $115,000 $115,000 $2,762 2.50%

    For 2021, Weber State Federal Credit Union's most frequently originated type of loan was Conventional, with 154 originations. Their 2nd most popular type was HELOC, with 54 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Cash Out Refi 80 $34,190,000 $427,375 $3,606 3.42%
    Refi 69 $11,885,000 $172,246 $2,507 3.06%
    Other 43 $2,705,000 $62,907 $0 3.40%
    Home Purchase 17 $4,585,000 $269,706 $5,482 3.66%

    For 2021, Weber State Federal Credit Union's most frequently cited loan purpose was Cash Out Refi, with 80 originations. The 2nd most popular reason was Refi, with 69 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 91 $10,695,000 $117,527 $2,657 3.04%
    10 Year 54 $27,960,000 $517,778 $3,659 3.91%
    15 Year 45 $10,515,000 $233,667 $3,096 3.33%
    30 Year 17 $3,955,000 $232,647 $3,895 2.87%
    20 Year 1 $225,000 $225,000 $3,149 2.65%
    5 Year 1 $15,000 $15,000 $0 3.99%

    For 2021, Weber State Federal Credit Union's most frequently cited loan duration was Other, with 91 originations. The 2nd most popular length was 10 Year, with 54 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $1k-2k 47 $6,955,000 $147,979
    $2k-3k 31 $8,625,000 $278,226
    $<1k 8 $1,350,000 $168,750
    $3k-4k 8 $3,380,000 $422,500
    $5k+ 1 $455,000 $455,000

    Weber State Federal Credit Union's average total fees were $3,895, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 47 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    <2.5% 66 $7,570,000 $114,697
    3-4% 50 $27,120,000 $542,400
    2.5-3% 47 $11,525,000 $245,213
    4-5% 30 $6,430,000 $214,333
    6-7% 9 $355,000 $39,444
    5-6% 5 $245,000 $49,000
    7-8% 2 $120,000 $60,000

    During 2021, Weber State Federal Credit Union's average interest rate for loans was 2.87%, while their most frequently originated rate bucket for loans was <2.5%, with 66 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 71 $3,955,000 $55,704 $1,751 3.71%
    $100k-200k 61 $8,715,000 $142,869 $2,544 2.85%
    $200k-400k 58 $15,770,000 $271,897 $3,646 3.27%
    $400k-600k 17 $8,305,000 $488,529 $6,904 3.41%
    $1MM+ 1 $16,005,000 $16,005,000 $0 4.00%
    $600k-1MM 1 $615,000 $615,000 $0 4.25%

    2021 saw Weber State Federal Credit Union place emphasis on $100,000 or less loans with 71 originations, totaling $3,955,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 58 $8,450,000 $145,690 $3,455 3.41%
    $50k or less 45 $7,155,000 $159,000 $3,456 2.94%
    $50k-75k 35 $5,515,000 $157,571 $2,881 3.26%
    $75k-100k 25 $3,295,000 $131,800 $2,984 3.23%
    $150k-250k 15 $3,265,000 $217,667 $3,751 3.27%
    $250k+ 5 $785,000 $157,000 $2,703 2.37%

    Weber State Federal Credit Union lent most frequently to those with incomes in the $100k-150k range, with 58 originations. The second most popular income band? $50k or less, with 45 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    30-36% 37 $5,435,000 $146,892 $2,824 3.34%
    20-30% 36 $5,950,000 $165,278 $3,164 3.23%
    42% 25 $3,795,000 $151,800 $3,803 3.43%
    39% 17 $3,205,000 $188,529 $4,952 3.02%
    <20% 14 $2,490,000 $177,857 $2,666 2.66%
    38% 11 $1,225,000 $111,364 $2,847 3.68%
    37% 10 $1,610,000 $161,000 $3,020 2.87%
    36% 9 $1,945,000 $216,111 $3,280 2.75%
    40% 8 $1,170,000 $146,250 $3,164 2.97%
    41% 8 $650,000 $81,250 $3,746 3.70%
    43% 2 $450,000 $225,000 $3,667 3.75%
    50-60% 2 $170,000 $85,000 $1,702 2.81%
    >60% 2 $190,000 $95,000 $2,652 2.94%
    44% 1 $105,000 $105,000 $0 3.50%
    48% 1 $75,000 $75,000 $0 1.99%

    Weber State Federal Credit Union lent most frequently to those with DTI ratios of 30-36%, with 37 originations. The next most common DTI ratio? 20-30%, with 36 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 159 $25,455,000 $160,094 $3,379 3.21%
    Not applicable 26 $24,900,000 $957,692 $0 4.12%
    Not provided 17 $2,035,000 $119,706 $2,817 3.42%
    Asian 3 $395,000 $131,667 $2,985 2.66%
    Black 2 $250,000 $125,000 $1,488 2.44%
    Native Hawaiian or Islander 1 $235,000 $235,000 $0 2.63%
    American Indian 1 $95,000 $95,000 $1,078 2.50%

    Approval Rates

    Total approvals of all applications
    99.09%

    Weber State Federal Credit Union 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
    97.13%

    Weber State Federal Credit Union has an exceptionally high pick rate. They most likely have borrower friendly terms or other characteristics like being fast to close or are easy to work with.

    Points and Fees

    Points Originations Total Value Average Loan
    1679.0 1 $145,000 $145,000
    1829.0 1 $175,000 $175,000
    1849.0 1 $175,000 $175,000
    2129.0 1 $235,000 $235,000
    NA 205 $52,635,000 $256,756

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    209 $53,365,000 $255,335

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 36 $4,130,000 $114,722 $2,271 2.74%
    40-60% 33 $6,935,000 $210,152 $2,905 3.00%
    60-80% 60 $17,640,000 $294,000 $3,540 3.47%
    80-100% 15 $4,835,000 $322,333 $5,748 3.15%
    Over 100% 2 $16,340,000 $8,170,000 $0 4.25%
    Under 20% 63 $3,485,000 $55,317 $907 3.67%