Credit Union Of Southern California Mortgage Rates, Fees & Info

Anaheim, CA

LEI: 2549005DO6VPVH5MOS59

Tax ID: 95-1818041

5 stars - out of 5 stars, based on 26 reviews

2021 Data | 2020 Data | 2019 Data | 2018 Data


Overview

Credit Union Of Southern California is a smaller credit union specializing in Cash Out Refi loans. Credit Union Of Southern California has a high proportion of conventional loans. Their top markets include Los Angeles, Riverside, Bakersfield, San Francisco, and Oxnard among others. Credit Union Of Southern California has an above average approval rate for mortages when compared nationally. They have a below average pick rate when compared to the same sample of other lendors. Credit Union Of Southern California is typically an average fee lendor.


Originations

683

Origination Dollar Volume (All Markets)

$286,675,000

Awards

Credit Union of Southern California 30 Year Conventional Loans silver
Show all (1) awards

Relative Rate

Credit Union Of Southern California's average 30 year fixed rate mortgage of loans were 3.11%.

The 2021 average 30 year fixed rate mortgage across all markets of loans were 3.15%.

This yields a difference of -0.04%.

Relative Fees

Credit Union Of Southern California's average total fees for a 30 year fixed rate mortgage are $3,865.

The average total origination fees for 30 year fixed rate mortgages (for all loan values, including both points & up-front fees in addition to origination fees) are $4,750.

Top Markets

Market Originations Total Value Average Loan Average Fees Average Rate
Los Angeles-Long Beach-Anaheim, CA (FHA|USDA|VA) 482 $186,860,000 $387,676 $3,470 3.11%
RIVERSIDE-SAN BERNARDINO-ONTARIO, CA (FHA|USDA|VA) 185 $94,175,000 $509,054 $4,125 3.13%
BAKERSFIELD, CA (FHA|USDA|VA) 4 $1,510,000 $377,500 $4,807 3.09%
San Francisco-Oakland-Berkeley, CA (FHA|USDA|VA) 2 $1,420,000 $710,000 $4,156 2.75%
OXNARD-THOUSAND OAKS-VENTURA, CA (FHA|USDA|VA) 2 $810,000 $405,000 $4,300 3.31%
SANTA CRUZ-WATSONVILLE, CA (FHA|USDA|VA) 1 $575,000 $575,000 $5,453 3.25%
SACRAMENTO-ROSEVILLE-FOLSOM, CA (FHA|USDA|VA) 2 $500,000 $250,000 $3,048 3.13%
SAN LUIS OBISPO-PASO ROBLES, CA (FHA|USDA|VA) 1 $225,000 $225,000 $2,958 2.88%
REDDING, CA (FHA|USDA|VA) 1 $215,000 $215,000 $3,458 2.88%
Red Bluff, CA (FHA|USDA|VA) 1 $145,000 $145,000 $7,372 3.00%
STOCKTON, CA (FHA|USDA|VA) 1 $135,000 $135,000 $3,031 3.13%
SAN DIEGO-CHULA VISTA-CARLSBAD, CA (FHA|USDA|VA) 1 $105,000 $105,000 $3,681 3.63%

Credit Union Of Southern California's top markets include Los Angeles, Riverside, Bakersfield, San Francisco, and Oxnard among others.

Product Mix

Loan Type Originations Total Value Average Loan Average Fees Average Rate
Conventional 683 $286,675,000 $419,729 $3,645 3.11%

For the 2021 period, Credit Union Of Southern California's most frequently originated loan type of loans were Conventional, with 683 originations.

Loan Reason

Loan Reason Originations Total Value Average Loan Average Fees Average Rate
Cash Out Refi 367 $147,395,000 $401,621 $3,414 3.16%
Other 174 $49,630,000 $285,230 $3,208 2.95%
Home Purchase 71 $44,775,000 $630,634 $6,020 3.25%
Refi 71 $44,875,000 $632,042 $4,504 3.17%

For the 2021, Credit Union Of Southern California's most frequently cited loan purpose of loans were Cash Out Refi, with 367 originations. The 2nd most popular reason of loans were Other, with 174 originations.

Loan Duration/Length

Loan Length Originations Total Value Average Loan Average Fees Average Rate
30 Year 417 $148,895,000 $357,062 $3,865 3.11%
15 Year 130 $29,600,000 $227,692 $2,974 2.77%
10 Year 76 $93,570,000 $1,231,184 $2,988 3.48%
20 Year 51 $13,195,000 $258,725 $4,193 3.11%
Other 9 $1,415,000 $157,222 $947 5.33%

For the 2021, Credit Union Of Southern California's most frequently cited loan length of loans were 30 Year, with 417 originations. The 2nd most popular length of loans were 15 Year, with 130 originations.

Origination Fees

Origination Fee Originations Total Value Average Loan
$1k-2k 483 $150,955,000 $312,536
$2k-3k 55 $16,885,000 $307,000
$<1k 47 $10,015,000 $213,085
$3k-4k 22 $8,640,000 $392,727
$5k+ 13 $8,385,000 $645,000

$3,865 of loans were Credit Union Of Southern California's average total fees, while their most frequently occuring range of origination fees were in the $1k-2k bucket, with 483 originations.

Interest Rates

Loan Rate Originations Total Value Average Loan
3-4% 279 $174,985,000 $627,186
2.5-3% 255 $78,625,000 $308,333
<2.5% 117 $26,775,000 $228,846
5-6% 23 $1,725,000 $75,000
4-5% 5 $4,345,000 $869,000
6-7% 4 $220,000 $55,000

During 2021, Credit Union Of Southern California's average interest rate of loans were 3.11%, while their most frequently originated rate bucket of loans were 3-4%, with 279 originations.

Loan Sizing

Loan Size Originations Total Value Average Loan Average Fees Average Rate
$200k-400k 312 $92,540,000 $296,603 $3,676 2.95%
$400k-600k 143 $67,965,000 $475,280 $3,991 3.18%
$100k-200k 107 $16,215,000 $151,542 $3,228 2.78%
$600k-1MM 50 $36,730,000 $734,600 $6,315 3.41%
$100,000 or less 41 $2,835,000 $69,146 $1,453 4.34%
$1MM+ 30 $70,390,000 $2,346,333 $11,916 3.59%

2021 saw Credit Union Of Southern California place emphasis on $200k-400k loans with 312 originations, totaling $92,540,000 in origination value.

Applicant Income

Applicant Income Originations Total Value Average Loan Average Fees Average Rate
$100k-150k 158 $57,480,000 $363,797 $3,618 3.19%
$150k-250k 140 $110,460,000 $789,000 $4,574 3.43%
$75k-100k 135 $43,745,000 $324,037 $3,564 2.93%
$50k-75k 132 $35,740,000 $270,758 $3,480 3.00%
$50k or less 91 $17,705,000 $194,560 $3,349 2.86%
$250k+ 14 $15,320,000 $1,094,286 $4,718 3.32%

Credit Union Of Southern California lent most frequently to those with incomes in the $100k-150k range, with 158 originations. The second most popular income band? $150k-250k, with 140 originations.

Applicant Debt to Income Ratio

DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
30-36% 125 $54,115,000 $432,920 $3,583 3.00%
20-30% 115 $46,085,000 $400,739 $3,414 2.97%
44% 54 $18,670,000 $345,741 $3,636 3.15%
43% 43 $15,865,000 $368,953 $3,792 3.04%
40% 40 $19,020,000 $475,500 $3,265 3.23%
42% 33 $9,095,000 $275,606 $3,050 3.30%
39% 31 $7,665,000 $247,258 $3,033 3.55%
49% 30 $10,670,000 $355,667 $3,609 2.92%
38% 30 $8,560,000 $285,333 $3,396 3.06%
41% 27 $11,995,000 $444,259 $3,739 3.06%
46% 23 $11,835,000 $514,565 $5,146 3.09%
37% 23 $7,585,000 $329,783 $3,872 3.20%
50-60% 20 $21,090,000 $1,054,500 $3,681 3.50%
36% 18 $7,920,000 $440,000 $3,870 3.53%
47% 17 $5,305,000 $312,059 $3,395 2.92%
45% 15 $9,655,000 $643,667 $4,050 3.24%
48% 15 $5,525,000 $368,333 $3,785 3.13%
<20% 14 $3,930,000 $280,714 $6,981 2.81%
>60% 10 $12,090,000 $1,209,000 $0 3.70%

Credit Union Of Southern California lent most frequently to those with DTI ratios of 30-36%, with 125 originations. The next most common DTI ratio? 20-30%, with 115 originations.

Ethnicity Mix

Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
Not provided 326 $154,810,000 $474,877 $3,549 3.16%
White 289 $100,395,000 $347,388 $3,778 3.04%
Asian 45 $23,015,000 $511,444 $3,339 3.27%
Black 17 $6,225,000 $366,176 $3,677 3.11%
American Indian 5 $1,775,000 $355,000 $3,698 3.15%
Native Hawaiian 1 $455,000 $455,000 $3,694 3.38%

Approval Rates

Total approvals of all applications
93.27%

Credit Union Of Southern California has an average approval rate.

Pick Rate

Approvals leading to origination
80.89%

Credit Union Of Southern California has a below average pick rate.

Points and Fees

Points Originations Total Value Average Loan
NA 683 $286,675,000 $419,729

Occupancy Type Mix

Dwelling Type Originations Total Value Average Loan
683 $286,675,000 $419,729

LTV Distribution

Loan to Value Originations Total Value Average Loan Average Fees Average Rate
20-40% 148 $34,700,000 $234,459 $3,372 2.82%
40-60% 221 $85,005,000 $384,638 $3,650 2.95%
60-80% 215 $139,715,000 $649,837 $4,128 3.24%
80-100% 41 $20,515,000 $500,366 $5,137 3.20%
Over 100% 1 $1,295,000 $1,295,000 $0 3.63%
Under 20% 56 $5,280,000 $94,286 $1,741 3.98%

Complaints

Bank Name Product Issue 2021 CPFB Complaints % of Total Issues
Credit Union Mortgage Association, Inc. Conventional home mortgage Trouble during payment process 1 100.0%