Weber State Federal Credit Union Mortgage Rates, Fees & Info
Ogden, UTLEI: 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.
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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| Home Equity Line of Credit (HELOC) | 4.39% | 11/1/24 |
| 30 Year Conventional Purchase | 4.98% | 11/1/24 |
| 30 Year Conventional Refi | 4.83% | 11/1/24 |
| 30 Year Cash-out Refi | 5.61% | 11/1/24 |
| 15 Year Conventional Refi | 5.68% | 11/1/24 |
| 15 Year Cash-out Refi | 5.68% | 11/1/24 |
| 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
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
209Origination Dollar Volume (All Markets)
$53,365,000Awards
WEBER STATE FEDERAL CREDIT UNION - 2021
WEBER STATE FEDERAL CREDIT UNION is a 2021 , due to their low .
For 2021, 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 |
|---|---|---|---|---|---|
| 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% |
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.
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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
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
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
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
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
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
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
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
Approval Rates
Total approvals of all applications99.09%
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 origination97.13%
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 |