Weber State Federal Credit Union Mortgage Rates, Fees & Info

Ogden, UT

LEI: 9845007E2D0BDH6C8955

Tax ID: 87-0238696

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

Review & Overview

Weber State Federal Credit Union is a smaller credit union specializing in Cash Out Refi and Home Purchase loans. Weber State Federal Credit Union has a high proportion of conventional loans. They have a low ratio of USDA loans. Their top markets by origination volume include: Ogden, Tucson, Salt Lake City, Pensacola, and St. George 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 a below average pick rate when compared to similar lenders. Weber State Federal Credit Union 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.

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%	12/16/24
30 Year Conventional Purchase	4.98%	12/16/24
30 Year Conventional Refi	4.83%	12/16/24
30 Year Cash-out Refi	5.61%	12/16/24
15 Year Conventional Refi	5.68%	12/16/24
15 Year Cash-out Refi	5.68%	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.

Weber State Federal Credit Union Mortgage Calculator

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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

143

Origination Dollar Volume (All Markets)

$16,335,000

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)	135	$14,125,000	$104,630	$2,723	4.92%
TUCSON, AZ (FHA\|USDA\|VA)	1	$875,000	$875,000	$9,351	4.75%
SALT LAKE CITY, UT (FHA\|USDA\|VA)	4	$720,000	$180,000	$4,462	4.65%
PENSACOLA-FERRY PASS-BRENT, FL (FHA\|USDA\|VA)	1	$355,000	$355,000	$5,422	4.50%
ST. GEORGE, UT (FHA\|USDA\|VA)	1	$205,000	$205,000	$3,503	3.75%
PROVO-OREM, UT (FHA\|USDA\|VA)	1	$55,000	$55,000	$375	5.00%

Weber State Federal Credit Union's top markets include Ogden, Tucson, Salt Lake City, Pensacola, and St. George among others.

Their top states include:

Utah (FHA|USDA|VA)

Arizona (FHA|USDA|VA)

Florida (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.

GRANITE FEDERAL CREDIT UNION
Similarity Rank: 294

Cache Valley Bank
Similarity Rank: 598

CYPRUS Federal Credit Union
Similarity Rank: 738

University First Federal Credit Union
Similarity Rank: 1026

EVERLEND MORTGAGE COMPANY
Similarity Rank: 1115

GOLDENWEST
Similarity Rank: 1200

MY MOVE MORTGAGE, LLC
Similarity Rank: 1963

Utah Mortgage Loan Corporation
Similarity Rank: 2327

Altabank
Similarity Rank: 2592

SECURITY HOME MORTGAGE, LLC.
Similarity Rank: 3192

Product Mix

Loan Type	Originations	Total Value	Avg. Loan	Avg. Fees	Avg. Rate
Conventional	80	$12,050,000	$150,625	$2,737	5.05%
HELOC	60	$3,400,000	$56,667	n/a	4.75%
VA	2	$590,000	$295,000	$8,079	4.44%
USDA	1	$295,000	$295,000	$3,877	3.75%

For 2018, Weber State Federal Credit Union's most frequently originated type of loan was Conventional, with 80 originations. Their 2nd most popular type was HELOC, with 60 originations.

Loan Reason

Loan Reason	Originations	Total Value	Avg. Loan	Avg. Fees	Avg. Rate
Cash Out Refi	69	$7,355,000	$106,594	$2,546	4.96%
Other	41	$2,025,000	$49,390	$438	4.96%
Home Purchase	17	$4,055,000	$238,529	$5,021	4.54%
Refi	16	$2,900,000	$181,250	$3,220	4.90%

For 2018, Weber State Federal Credit Union's most frequently cited loan purpose was Cash Out Refi, with 69 originations. The 2nd most popular reason was Other, with 41 originations.

Loan Duration/Length

Loan Length	Originations	Total Value	Average Loan	Average Fees	Average Rate
Other	65	$3,745,000	$57,615	$1,408	4.75%
15 Year	44	$8,460,000	$192,273	$3,350	4.44%
10 Year	27	$2,875,000	$106,481	$2,144	6.13%
30 Year	4	$1,010,000	$252,500	$5,760	4.59%
5 Year	3	$245,000	$81,667	$1,454	4.60%

For 2018, Weber State Federal Credit Union's most frequently cited loan duration was Other, with 65 originations. The 2nd most popular length was 15 Year, with 44 originations.

Origination Fees/Closing Costs

Origination Fee/Closing Cost	Originations	Total Value	Average Loan
$1k-2k	37	$5,295,000	$143,108
$2k-3k	18	$4,610,000	$256,111
$<1k	4	$730,000	$182,500
$3k-4k	2	$730,000	$365,000
$5k+	1	$875,000	$875,000

Weber State Federal Credit Union's average total fees were $5,760, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 37 originations.

Interest Rates

Loan Rate	Originations	Total Value	Average Loan
4-5%	34	$7,320,000	$215,294
2.5-3%	33	$2,175,000	$65,909
3-4%	24	$3,700,000	$154,167
5-6%	20	$1,840,000	$92,000
7-8%	17	$605,000	$35,588
Over 8%	8	$350,000	$43,750
6-7%	7	$345,000	$49,286

During 2018, Weber State Federal Credit Union's average interest rate for loans was 4.59%, while their most frequently originated rate bucket for loans was 4-5%, with 34 originations.

Loan Sizing

Loan Size	Originations	Total Value	Average Loan	Average Fees	Average Rate
$100,000 or less	82	$3,760,000	$45,854	$996	5.36%
$100k-200k	34	$4,670,000	$137,353	$3,139	4.32%
$200k-400k	25	$6,565,000	$262,600	$4,374	4.22%
$400k-600k	1	$465,000	$465,000	$13,044	4.75%
$600k-1MM	1	$875,000	$875,000	$9,351	4.75%

2018 saw Weber State Federal Credit Union place emphasis on $100,000 or less loans with 82 originations, totaling $3,760,000 in origination value.

Applicant Income

Applicant Income	Originations	Total Value	Average Loan	Average Fees	Average Rate
$100k-150k	39	$3,765,000	$96,538	$2,239	4.96%
$50k-75k	34	$4,330,000	$127,353	$3,373	4.97%
$75k-100k	27	$2,515,000	$93,148	$2,424	5.05%
$150k-250k	18	$2,680,000	$148,889	$3,089	4.04%
$50k or less	16	$1,040,000	$65,000	$2,173	5.49%
$250k+	9	$2,005,000	$222,778	$4,399	4.65%

Weber State Federal Credit Union lent most frequently to those with incomes in the $100k-150k range, with 39 originations. The second most popular income band? $50k-75k, with 34 originations.

Applicant Debt to Income Ratio

DTI Ratio	Originations	Total Value	Average Loan	Average Fees	Average Rate
20-30%	40	$4,790,000	$119,750	$2,556	5.02%
30-36%	34	$3,580,000	$105,294	$2,946	4.53%
<20%	15	$1,895,000	$126,333	$3,244	4.16%
42%	14	$1,520,000	$108,571	$2,813	4.92%
40%	9	$1,285,000	$142,778	$2,473	5.72%
38%	8	$740,000	$92,500	$1,508	4.61%
41%	7	$385,000	$55,000	$735	6.43%
37%	5	$675,000	$135,000	$6,710	4.24%
36%	4	$600,000	$150,000	$4,612	4.87%
>60%	3	$285,000	$95,000	$3,151	7.79%
39%	2	$150,000	$75,000	$1,678	4.18%
45%	1	$195,000	$195,000	$4,137	4.88%
46%	1	$235,000	$235,000	$10,736	4.38%

Weber State Federal Credit Union lent most frequently to those with DTI ratios of 20-30%, with 40 originations. The next most common DTI ratio? 30-36%, with 34 originations.

Ethnicity Mix

Applicant Ethnicity	Originations	Total Value	Average Loan	Average Fees	Average Rate
White	131	$15,155,000	$115,687	$2,862	4.94%
Asian	3	$485,000	$161,667	$3,213	4.41%
Not provided	4	$290,000	$72,500	$2,421	4.40%
Other Pacific Islander	2	$280,000	$140,000	$4,871	5.56%
American Indian	2	$80,000	$40,000	$425	4.45%
Native Hawaiian or Islander	1	$45,000	$45,000	$0	2.99%

Approval Rates

Total approvals of all applications
98.22%

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
89.51%

Weber State Federal Credit Union has an average pick rate.

Points and Fees

Points	Originations	Total Value	Average Loan
NA	143	$16,335,000	$114,231

Occupancy Type Mix

Dwelling Type	Originations	Total Value	Average Loan
Single Family (1-4 Units):Site-Built	143	$16,335,000	$114,231

LTV Distribution

Loan to Value	Originations	Total Value	Average Loan	Average Fees	Average Rate
20-40%	30	$2,350,000	$78,333	$1,944	4.43%
40-60%	17	$2,535,000	$149,118	$2,753	4.20%
60-80%	27	$6,325,000	$234,259	$3,603	4.61%
80-100%	13	$3,105,000	$238,846	$6,024	4.38%
Under 20%	56	$2,020,000	$36,071	$473	5.64%