Tulsa Federal Credit Union Mortgage Rates, Fees & Info

Tulsa, OK

LEI: 254900AASWOQ6SVWCG44

Tax ID: 73-0582491

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

    Tulsa Federal Credit Union is a smaller credit union specializing in Other and Home Purchase loans. Tulsa Federal Credit Union has a high proportion of conventional loans. Their top markets by origination volume include: Tulsa, Oklahoma City, Tahlequah, Muskogee, and Fort Smith among others. We have data for 6 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Tulsa Federal Credit Union 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. Tulsa 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.

    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) 6.31% 4/28/24
    30 Year Conventional Purchase 7.01% 4/28/24
    30 Year Conventional Refi 6.57% 4/28/24
    30 Year Cash-out Refi 6.82% 4/28/24
    15 Year Conventional Purchase 5.96% 4/28/24
    15 Year Conventional Refi 6.19% 4/28/24
    15 Year Cash-out Refi 6.19% 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.

    Tulsa 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 Tulsa 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

    284

    Origination Dollar Volume (All Markets)

    $29,420,000

    Awards

    Tulsa Federal Credit Union 30 Year Conventional Loans gold Tulsa Federal Credit Union 30 Year Conventional Loans gold Tulsa Federal Credit Union 30 Year Conventional Loans bronze
    Show all (3) awards

    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
    TULSA, OK (FHA|USDA|VA) 274 $28,000,000 $102,190 $2,026 5.11%
    OKLAHOMA CITY, OK (FHA|USDA|VA) 4 $750,000 $187,500 $2,296 5.25%
    Outside of Metro Areas 3 $425,000 $141,667 $3,429 5.71%
    Tahlequah, OK (FHA|USDA|VA) 1 $135,000 $135,000 $3,571 4.88%
    Muskogee, OK (FHA|USDA|VA) 1 $75,000 $75,000 $678 3.75%
    FORT SMITH, AR-OK (FHA|USDA|VA) 1 $35,000 $35,000 $0 5.75%
    Tulsa Federal Credit Union's top markets include Tulsa, Oklahoma City, Tahlequah, Muskogee, and Fort Smith among others.

    Their top states include:
  • Oklahoma (FHA|USDA|VA)

    • Similar Lenders

    We use machine learning to identify the top lenders compared against Tulsa Federal Credit Union based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.

    Tulsa Federal Credit Union
    Similarity Rank: 42
    RED CROWN
    Similarity Rank: 66
    MORTGAGE CLEARING CORPORATION
    Similarity Rank: 192
    Central Bank of Oklahoma
    Similarity Rank: 294
    TTCU Federal Credit Union
    Similarity Rank: 297
    The First State Bank
    Similarity Rank: 306
    Truity Federal Credit Union
    Similarity Rank: 656
    Mabrey Bank
    Similarity Rank: 748
    American Bank of Oklahoma
    Similarity Rank: 880
    COMMUNICATION
    Similarity Rank: 1040

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 195 $23,605,000 $121,051 $2,042 4.78%
    HELOC 89 $5,815,000 $65,337 n/a 5.87%

    For 2018, Tulsa Federal Credit Union's most frequently originated type of loan was Conventional, with 195 originations. Their 2nd most popular type was HELOC, with 89 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Other 145 $9,165,000 $63,207 $516 5.83%
    Home Purchase 72 $12,190,000 $169,306 $2,789 4.37%
    Cash Out Refi 50 $5,750,000 $115,000 $1,528 4.48%
    Refi 16 $2,290,000 $143,125 $2,172 4.05%
    Home Improvement 1 $25,000 $25,000 $363 5.75%

    For 2018, Tulsa Federal Credit Union's most frequently cited loan purpose was Other, with 145 originations. The 2nd most popular reason was Home Purchase, with 72 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    20 Year 139 $9,785,000 $70,396 $2,639 5.75%
    30 Year 68 $12,340,000 $181,471 $2,841 4.47%
    10 Year 44 $3,460,000 $78,636 $736 4.69%
    15 Year 22 $3,070,000 $139,545 $2,639 4.23%
    5 Year 8 $380,000 $47,500 $536 4.78%
    Other 3 $385,000 $128,333 $1,126 4.25%

    For 2018, Tulsa Federal Credit Union's most frequently cited loan duration was 20 Year, with 139 originations. The 2nd most popular length was 30 Year, with 68 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 144 $18,350,000 $127,431
    $1k-2k 9 $2,155,000 $239,444

    Tulsa Federal Credit Union's average total fees were $2,841, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 144 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    5-6% 98 $6,410,000 $65,408
    4-5% 90 $13,180,000 $146,444
    3-4% 50 $6,510,000 $130,200
    6-7% 37 $2,505,000 $67,703
    7-8% 5 $215,000 $43,000
    2.5-3% 4 $600,000 $150,000

    During 2018, Tulsa Federal Credit Union's average interest rate for loans was 4.47%, while their most frequently originated rate bucket for loans was 5-6%, with 98 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 174 $9,030,000 $51,897 $1,308 5.46%
    $100k-200k 72 $9,960,000 $138,333 $2,362 4.64%
    $200k-400k 36 $9,570,000 $265,833 $2,972 4.48%
    $400k-600k 2 $860,000 $430,000 $3,727 4.31%

    2018 saw Tulsa Federal Credit Union place emphasis on $100,000 or less loans with 174 originations, totaling $9,030,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 73 $6,025,000 $82,534 $2,122 5.06%
    $100k-150k 64 $7,660,000 $119,688 $2,157 5.29%
    $75k-100k 60 $5,770,000 $96,167 $1,972 5.21%
    $50k or less 46 $3,220,000 $70,000 $1,795 4.98%
    $150k-250k 32 $4,950,000 $154,688 $2,027 4.93%
    $250k+ 7 $1,685,000 $240,714 $3,423 5.11%

    Tulsa Federal Credit Union lent most frequently to those with incomes in the $50k-75k range, with 73 originations. The second most popular income band? $100k-150k, with 64 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 87 $9,375,000 $107,759 $2,236 4.99%
    30-36% 61 $6,185,000 $101,393 $1,938 5.13%
    <20% 55 $5,565,000 $101,182 $2,314 5.21%
    38% 17 $1,635,000 $96,176 $1,670 5.48%
    39% 13 $2,015,000 $155,000 $2,833 5.05%
    41% 12 $830,000 $69,167 $641 5.63%
    40% 10 $580,000 $58,000 $1,266 4.74%
    36% 9 $1,145,000 $127,222 $1,983 4.90%
    37% 7 $865,000 $123,571 $2,626 5.30%
    43% 4 $450,000 $112,500 $2,066 5.13%
    44% 3 $355,000 $118,333 $2,314 4.79%
    42% 3 $275,000 $91,667 $1,588 5.42%
    45% 1 $25,000 $25,000 $653 5.50%
    46% 1 $75,000 $75,000 $678 3.75%
    >60% 1 $45,000 $45,000 $0 5.00%

    Tulsa Federal Credit Union lent most frequently to those with DTI ratios of 20-30%, with 87 originations. The next most common DTI ratio? 30-36%, with 61 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 206 $20,940,000 $101,650 $2,096 5.15%
    Not provided 36 $4,340,000 $120,556 $2,133 5.14%
    American Indian 30 $2,500,000 $83,333 $1,456 4.99%
    Asian 5 $695,000 $139,000 $2,783 4.40%
    Black 5 $565,000 $113,000 $1,733 4.93%
    Asian Indian 1 $295,000 $295,000 $2,764 4.50%
    Not applicable 1 $85,000 $85,000 $0 6.50%

    Approval Rates

    Total approvals of all applications
    73.03%

    Tulsa Federal Credit Union has a below average approval rate.

    Pick Rate

    Approvals leading to origination
    54.23%

    Tulsa Federal Credit Union has a low pick rate. They may have issues with closing loans or may approve everyone, but with onerous loan terms.

    Points and Fees

    Points Originations Total Value Average Loan
    0.0 42 $3,100,000 $73,810
    NA 242 $26,320,000 $108,760

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Single Family (1-4 Units):Site-Built 284 $29,420,000 $103,592

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 78 $4,900,000 $62,821 $1,047 5.45%
    40-60% 26 $2,900,000 $111,538 $2,054 5.12%
    60-80% 53 $6,875,000 $129,717 $2,165 4.72%
    80-100% 72 $12,920,000 $179,444 $2,721 4.48%
    Under 20% 55 $1,825,000 $33,182 $489 5.86%