Operating Engineers Local Union #3 Mortgage Rates, Fees & Info
Livermore, CALEI: 254900MHHOS58M9D0445
Tax ID: 94-6131870
Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data
Jump to:
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.
Mortgage seekers: Choose your metro area here to explore the lowest fee & rate lenders.
Mortgage professionals: We have various tools to make your lives easier. Contact us to see how we can help with your market research, analytics or advertising needs.
SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| 30 Year Conventional Purchase | 5.80% | 4/21/24 |
| 30 Year Conventional Refi | 5.76% | 4/21/24 |
| 30 Year Cash-out Refi | 5.78% | 4/21/24 |
| 15 Year Conventional Purchase | 4.89% | 4/21/24 |
| 15 Year Conventional Refi | 5.40% | 4/21/24 |
| 15 Year Cash-out Refi | 5.40% | 4/21/24 |
| 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
Your Estimates
Estimated Loan Payment: Update the calculator values and click calculate payment!
This is not an official calculator from Operating Engineers Local Union #3. 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
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.
Work for Operating Engineers Local Union #3?
Use this award on your own site. Either save and use the images below, or pass the provided image embed code to your development team.
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% |
Similar Lenders
We use machine learning to identify the top lenders compared against Operating Engineers Local Union #3 based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.
Similarity Rank: 168
Similarity Rank: 318
Similarity Rank: 360
Similarity Rank: 368
Similarity Rank: 546
Similarity Rank: 630
Similarity Rank: 864
Similarity Rank: 1020
Similarity Rank: 1020
Similarity Rank: 1228
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 |