Operating Engineers Local Union #3 Mortgage Rates, Fees & Info
Livermore, CALEI: 254900MHHOS58M9D0445
Tax ID: 94-6131870
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Mortgage Data
Review & Overview
Operating Engineers Local Union #3 is a smaller credit union specializing in Cash Out Refi and Refi loans. Operating Engineers Local Union #3 has a high proportion of conventional loans. Their top markets by origination volume include: San Francisco, Sacramento, Stockton, Vallejo, and Reno among others. We have data for 57 markets. (Some data included below & more in-depth data is available with an active subscription.)Operating Engineers Local Union #3 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. Operating Engineers Local Union #3 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.
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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| 30 Year Conventional Purchase | 5.80% | 12/16/24 |
| 30 Year Conventional Refi | 5.76% | 12/16/24 |
| 30 Year Cash-out Refi | 5.78% | 12/16/24 |
| 15 Year Conventional Purchase | 4.89% | 12/16/24 |
| 15 Year Conventional Refi | 5.40% | 12/16/24 |
| 15 Year Cash-out Refi | 5.40% | 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. | ||
Operating Engineers Local Union #3 Mortgage Calculator
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
305Origination Dollar Volume (All Markets)
$89,915,000Awards
Operating Engineers Local Union #3 - 2019
Operating Engineers Local Union #3 is a 2019 , due to their low .
For 2019, less than of lenders were eligible for this award.
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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 |
|---|---|---|---|---|---|
| San Francisco-Oakland-Berkeley, CA (FHA|USDA|VA) | 55 | $21,765,000 | $395,727 | $3,213 | 3.43% |
| SACRAMENTO-ROSEVILLE-FOLSOM, CA (FHA|USDA|VA) | 35 | $10,095,000 | $288,429 | $3,109 | 3.72% |
| STOCKTON, CA (FHA|USDA|VA) | 29 | $8,615,000 | $297,069 | $3,155 | 3.68% |
| VALLEJO, CA (FHA|USDA|VA) | 15 | $5,175,000 | $345,000 | $3,299 | 3.68% |
| RENO, NV (FHA|USDA|VA) | 16 | $4,590,000 | $286,875 | $3,339 | 3.69% |
| SANTA ROSA-PETALUMA, CA (FHA|USDA|VA) | 12 | $4,430,000 | $369,167 | $4,655 | 3.64% |
| SAN JOSE-SUNNYVALE-SANTA CLARA, CA (FHA|USDA|VA) | 9 | $4,095,000 | $455,000 | $3,934 | 3.46% |
| MODESTO, CA (FHA|USDA|VA) | 13 | $3,245,000 | $249,615 | $3,022 | 3.87% |
| PORTLAND-VANCOUVER-HILLSBORO, OR-WA (FHA|USDA|VA) | 7 | $2,545,000 | $363,571 | $4,270 | 3.89% |
| Outside of Metro Areas | 11 | $2,225,000 | $202,273 | $3,452 | 3.76% |
| Los Angeles-Long Beach-Anaheim, CA (FHA|USDA|VA) | 4 | $1,650,000 | $412,500 | $3,816 | 3.50% |
| Elko, NV (FHA|USDA|VA) | 9 | $1,575,000 | $175,000 | $3,295 | 3.89% |
| FRESNO, CA (FHA|USDA|VA) | 7 | $1,535,000 | $219,286 | $3,019 | 3.45% |
| YUBA CITY, CA (FHA|USDA|VA) | 6 | $1,380,000 | $230,000 | $3,035 | 3.94% |
| BOISE CITY, ID (FHA|USDA|VA) | 5 | $1,215,000 | $243,000 | $4,009 | 3.63% |
| SANTA CRUZ-WATSONVILLE, CA (FHA|USDA|VA) | 2 | $1,010,000 | $505,000 | $3,165 | 3.81% |
| PHOENIX-MESA-CHANDLER, AZ (FHA|USDA|VA) | 5 | $1,005,000 | $201,000 | $3,479 | 4.05% |
| LAS VEGAS-HENDERSON-PARADISE, NV (FHA|USDA|VA) | 3 | $945,000 | $315,000 | $3,163 | 4.13% |
| SALT LAKE CITY, UT (FHA|USDA|VA) | 3 | $855,000 | $285,000 | $3,295 | 3.63% |
| MADERA, CA (FHA|USDA|VA) | 4 | $780,000 | $195,000 | $3,093 | 3.66% |
| Hilo, HI (FHA|USDA|VA) | 2 | $730,000 | $365,000 | $5,042 | 3.50% |
| Truckee-Grass Valley, CA (FHA|USDA|VA) | 2 | $590,000 | $295,000 | $3,112 | 3.38% |
| RIVERSIDE-SAN BERNARDINO-ONTARIO, CA (FHA|USDA|VA) | 2 | $580,000 | $290,000 | $3,684 | 3.38% |
| Fernley, NV (FHA|USDA|VA) | 4 | $580,000 | $145,000 | $4,126 | 3.81% |
| VISALIA, CA (FHA|USDA|VA) | 3 | $575,000 | $191,667 | $3,170 | 3.13% |
| NAPA, CA (FHA|USDA|VA) | 1 | $525,000 | $525,000 | $3,482 | 3.50% |
| BAKERSFIELD, CA (FHA|USDA|VA) | 3 | $515,000 | $171,667 | $2,982 | 3.33% |
| MERCED, CA (FHA|USDA|VA) | 2 | $500,000 | $250,000 | $3,449 | 3.50% |
| URBAN HONOLULU, HI (FHA|USDA|VA) | 2 | $490,000 | $245,000 | $3,374 | 4.31% |
| CHICO, CA (FHA|USDA|VA) | 3 | $475,000 | $158,333 | $3,007 | 3.25% |
| REDDING, CA (FHA|USDA|VA) | 2 | $470,000 | $235,000 | $3,198 | 3.94% |
| Ukiah, CA (FHA|USDA|VA) | 2 | $390,000 | $195,000 | $3,060 | 3.31% |
| Clearlake, CA (FHA|USDA|VA) | 1 | $355,000 | $355,000 | $3,999 | 4.75% |
| Newport, OR (FHA|USDA|VA) | 1 | $335,000 | $335,000 | $4,593 | 3.75% |
| SPOKANE-SPOKANE VALLEY, WA (FHA|USDA|VA) | 1 | $325,000 | $325,000 | $3,430 | 3.00% |
| Sonora, CA (FHA|USDA|VA) | 2 | $310,000 | $155,000 | $3,007 | 3.31% |
| Winnemucca, NV (FHA|USDA|VA) | 1 | $295,000 | $295,000 | $3,507 | 3.38% |
| MORGANTOWN, WV (FHA|USDA|VA) | 1 | $285,000 | $285,000 | $3,930 | 3.63% |
| HANFORD-CORCORAN, CA (FHA|USDA|VA) | 1 | $275,000 | $275,000 | $3,212 | 3.63% |
| COLORADO SPRINGS, CO (FHA|USDA|VA) | 1 | $225,000 | $225,000 | $3,517 | 3.00% |
| ATLANTA-SANDY SPRINGS-ALPHARETTA, GA (FHA|USDA|VA) | 1 | $215,000 | $215,000 | $3,862 | 4.13% |
| SAN ANTONIO-NEW BRAUNFELS, TX (FHA|USDA|VA) | 1 | $195,000 | $195,000 | $3,768 | 3.00% |
| Cedar City, UT (FHA|USDA|VA) | 1 | $195,000 | $195,000 | $3,211 | 3.50% |
| Eureka-Arcata, CA (FHA|USDA|VA) | 1 | $185,000 | $185,000 | $3,095 | 4.38% |
| PALM BAY-MELBOURNE-TITUSVILLE, FL (FHA|USDA|VA) | 1 | $185,000 | $185,000 | $3,264 | 3.00% |
| ALBANY-LEBANON, OR (FHA|USDA|VA) | 1 | $165,000 | $165,000 | $3,804 | 2.75% |
| PROVO-OREM, UT (FHA|USDA|VA) | 1 | $155,000 | $155,000 | $3,004 | 3.25% |
| LAKE HAVASU CITY-KINGMAN, AZ (FHA|USDA|VA) | 2 | $140,000 | $70,000 | $3,041 | 4.00% |
| Stephenville, TX (FHA|USDA|VA) | 1 | $135,000 | $135,000 | $4,414 | 3.75% |
| DENVER-AURORA-LAKEWOOD, CO (FHA|USDA|VA) | 1 | $125,000 | $125,000 | $3,392 | 3.25% |
| Pahrump, NV (FHA|USDA|VA) | 1 | $125,000 | $125,000 | $3,073 | 3.38% |
| Dallas-Fort Worth-Arlington, TX (FHA|USDA|VA) | 1 | $115,000 | $115,000 | $3,661 | 4.13% |
| TUCSON, AZ (FHA|USDA|VA) | 1 | $105,000 | $105,000 | $3,557 | 2.50% |
| YUMA, AZ (FHA|USDA|VA) | 1 | $85,000 | $85,000 | $3,057 | 4.00% |
| Payson, AZ (FHA|USDA|VA) | 1 | $85,000 | $85,000 | $2,757 | 3.38% |
| Williston, ND (FHA|USDA|VA) | 1 | $75,000 | $75,000 | $3,270 | 3.50% |
| PRESCOTT VALLEY-PRESCOTT, AZ (FHA|USDA|VA) | 1 | $75,000 | $75,000 | $3,477 | 4.00% |
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Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 305 | $89,915,000 | $294,803 | $3,372 | 3.63% |
For 2019, Operating Engineers Local Union #3's most frequently originated type of loan was Conventional, with 305 originations.
Loan Reason
For 2019, Operating Engineers Local Union #3's most frequently cited loan purpose was Cash Out Refi, with 175 originations. The 2nd most popular reason was Home Purchase, with 65 originations.
Loan Duration/Length
For 2019, Operating Engineers Local Union #3's most frequently cited loan duration was 30 Year, with 217 originations. The 2nd most popular length was 15 Year, with 55 originations.
Origination Fees/Closing Costs
Operating Engineers Local Union #3's average total fees were $3,455, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 299 originations.
Interest Rates
During 2019, Operating Engineers Local Union #3's average interest rate for loans was 3.75%, while their most frequently originated rate bucket for loans was 3-4%, with 213 originations.
Loan Sizing
2019 saw Operating Engineers Local Union #3 place emphasis on $200k-400k loans with 145 originations, totaling $43,255,000 in origination value.
Applicant Income
Operating Engineers Local Union #3 lent most frequently to those with incomes in the $100k-150k range, with 100 originations. The second most popular income band? $75k-100k, with 73 originations.
Applicant Debt to Income Ratio
Operating Engineers Local Union #3 lent most frequently to those with DTI ratios of 20-30%, with 87 originations. The next most common DTI ratio? 30-36%, with 64 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications96.59%
Operating Engineers Local Union #3 has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.
Pick Rate
Approvals leading to origination64.26%
Operating Engineers Local Union #3 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 |
|---|---|---|---|
| NA | 305 | $89,915,000 | $294,803 |
Occupancy Type Mix
| Dwelling Type | Originations | Total Value | Average Loan |
|---|---|---|---|
| Single Family (1-4 Units):Manufactured | 17 | $3,175,000 | $186,765 |
| Single Family (1-4 Units):Site-Built | 288 | $86,740,000 | $301,181 |