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

Jump to:

  • SimulatedRates™
  • Mortgage Calculator

    • Mortgage Data

  • Originations
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • Similar Lenders
  • Loan Length
  • Loan to Value Info
  • Debt-to-Income
  • Applicant Income
  • Ethnicity Info
  • Approval & Pick Rates
  • Points and Fees
  • Origination Fees (Closing Costs)

    • 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% 4/28/24
    30 Year Conventional Purchase 4.98% 4/28/24
    30 Year Conventional Refi 4.83% 4/28/24
    30 Year Cash-out Refi 5.61% 4/28/24
    15 Year Conventional Refi 5.68% 4/28/24
    15 Year Cash-out Refi 5.68% 4/28/24
    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.

    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

    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%