Credit Union Of Southern California Mortgage Rates, Fees & Info
Anaheim, CALEI: 2549005DO6VPVH5MOS59
Tax ID: 95-1818041
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Mortgage Data
Review & Overview
Credit Union Of Southern California is a smaller credit union specializing in Other and Home Purchase loans. Credit Union Of Southern California has a high proportion of conventional loans. Their top markets by origination volume include: Los Angeles, Riverside, San Diego, Stockton, and Oxnard among others. We have data for 9 markets. (Some data included below & more in-depth data is available with an active subscription.)Credit Union Of Southern California has an average approval rate when compared to the average across all lenders. They have a below average pick rate when compared to similar lenders. Credit Union Of Southern California 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 relatively high 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 | 6.25% | 4/18/24 |
| 30 Year Conventional Refi | 6.37% | 4/18/24 |
| 30 Year Cash-out Refi | 6.47% | 4/18/24 |
| 15 Year Conventional Refi | 6.02% | 4/18/24 |
| 15 Year Cash-out Refi | 6.02% | 4/18/24 |
| 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. | ||
Credit Union Of Southern California Mortgage Calculator
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
755Origination Dollar Volume (All Markets)
$151,225,000Awards
Credit Union of Southern California - 2023
Credit Union of Southern California is a 2023 , due to their low .
For 2023, less than of lenders were eligible for this award.
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Relative Rate
Credit Union Of Southern California's average 30 year fixed mortgage rate was
6.29%.
The 2023 average 30 year fixed rate mortgage across all markets and lenders was 6.48%.
This yields a difference of -0.19%.
Relative Fees (Closing Costs)
Credit Union Of Southern California's average total fees/closing costs for a 30 year fixed rate
mortgage were $6,593.
The average total origination fees for 30 year fixed rate mortgages across all lenders (for all loan values, including
both points & up-front fees in addition to origination fees) were $9,089.
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 |
|---|---|---|---|---|---|
| Los Angeles-Long Beach-Anaheim, CA (FHA|USDA|VA) | 538 | $109,680,000 | $203,866 | $2,591 | 7.80% |
| RIVERSIDE-SAN BERNARDINO-ONTARIO, CA (FHA|USDA|VA) | 201 | $35,895,000 | $178,582 | $2,196 | 7.84% |
| SAN DIEGO-CHULA VISTA-CARLSBAD, CA (FHA|USDA|VA) | 7 | $3,335,000 | $476,429 | $4,587 | 6.71% |
| STOCKTON, CA (FHA|USDA|VA) | 1 | $705,000 | $705,000 | $4,474 | 6.50% |
| OXNARD-THOUSAND OAKS-VENTURA, CA (FHA|USDA|VA) | 3 | $455,000 | $151,667 | $50 | 7.50% |
| BAKERSFIELD, CA (FHA|USDA|VA) | 2 | $450,000 | $225,000 | $0 | 7.60% |
| Outside of Metro Areas | 1 | $355,000 | $355,000 | $5,749 | 6.38% |
| SAN LUIS OBISPO-PASO ROBLES, CA (FHA|USDA|VA) | 1 | $255,000 | $255,000 | $0 | 7.50% |
| SANTA MARIA-SANTA BARBARA, CA (FHA|USDA|VA) | 1 | $95,000 | $95,000 | $95 | 8.00% |
Their top states include:
Similar Lenders
We use machine learning to identify the top lenders compared against Credit Union of Southern California 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 |
|---|---|---|---|---|---|
| HELOC | 395 | $46,325,000 | $117,278 | n/a | 8.42% |
| Conventional | 360 | $104,900,000 | $291,389 | $2,505 | 7.11% |
For 2023, Credit Union Of Southern California's most frequently originated type of loan was HELOC, with 395 originations. Their 2nd most popular type was Conventional, with 360 originations.
Loan Reason
For 2023, Credit Union Of Southern California's most frequently cited loan purpose was Other, with 507 originations. The 2nd most popular reason was Cash Out Refi, with 156 originations.
Loan Duration/Length
For 2023, Credit Union Of Southern California's most frequently cited loan duration was Other, with 487 originations. The 2nd most popular length was 30 Year, with 113 originations.
Origination Fees/Closing Costs
Credit Union Of Southern California's average total fees were $6,593, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 229 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| Over 8% | 313 | $36,365,000 | $116,182 |
| 7-8% | 251 | $36,695,000 | $146,195 |
| 6-7% | 145 | $48,155,000 | $332,103 |
| 5-6% | 42 | $28,180,000 | $670,952 |
| 4-5% | 4 | $1,830,000 | $457,500 |
During 2023, Credit Union Of Southern California's average interest rate for loans was 6.29%, while their most frequently originated rate bucket for loans was Over 8%, with 313 originations.
Loan Sizing
2023 saw Credit Union Of Southern California place emphasis on $100,000 or less loans with 313 originations, totaling $18,875,000 in origination value.
Applicant Income
Credit Union Of Southern California lent most frequently to those with incomes in the $100k-150k range, with 232 originations. The second most popular income band? $150k-250k, with 231 originations.
Applicant Debt to Income Ratio
Credit Union Of Southern California lent most frequently to those with DTI ratios of 30-36%, with 95 originations. The next most common DTI ratio? 50-60%, with 95 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications74.59%
Credit Union Of Southern California has a below average approval rate.
Pick Rate
Approvals leading to origination78.68%
Credit Union Of Southern California has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| 0.0 | 30 | $3,720,000 | $124,000 |
| 300.0 | 1 | $125,000 | $125,000 |
| 45.0 | 2 | $510,000 | $255,000 |
| 850.0 | 1 | $55,000 | $55,000 |
| NA | 721 | $146,815,000 | $203,627 |