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. They have a a low proportion of FHA loans. (This may mean they shy away from first time homebuyers.) Their top markets by origination volume include: San Francisco, Stockton, Sacramento, San Jose, and Modesto among others. We have data for 62 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.
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% | 4/18/24 |
| 30 Year Conventional Refi | 5.76% | 4/18/24 |
| 30 Year Cash-out Refi | 5.78% | 4/18/24 |
| 15 Year Conventional Purchase | 4.89% | 4/18/24 |
| 15 Year Conventional Refi | 5.40% | 4/18/24 |
| 15 Year Cash-out Refi | 5.40% | 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. | ||
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
573Origination Dollar Volume (All Markets)
$167,785,000Top 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) | 100 | $40,700,000 | $407,000 | $0 | 0.00% |
| STOCKTON, CA (FHA|USDA|VA) | 54 | $14,320,000 | $265,185 | $0 | 0.00% |
| SACRAMENTO-ROSEVILLE-FOLSOM, CA (FHA|USDA|VA) | 49 | $14,185,000 | $289,490 | $0 | 0.00% |
| SAN JOSE-SUNNYVALE-SANTA CLARA, CA (FHA|USDA|VA) | 25 | $11,635,000 | $465,400 | $0 | 0.00% |
| MODESTO, CA (FHA|USDA|VA) | 44 | $11,520,000 | $261,818 | $0 | 0.00% |
| RENO, NV (FHA|USDA|VA) | 40 | $9,680,000 | $242,000 | $0 | 0.00% |
| VALLEJO, CA (FHA|USDA|VA) | 24 | $7,630,000 | $317,917 | $0 | 0.00% |
| SANTA ROSA-PETALUMA, CA (FHA|USDA|VA) | 17 | $6,365,000 | $374,412 | $0 | 0.00% |
| Outside of Metro Areas | 24 | $4,850,000 | $202,083 | $0 | 0.00% |
| YUBA CITY, CA (FHA|USDA|VA) | 22 | $4,640,000 | $210,909 | $0 | 0.00% |
| FRESNO, CA (FHA|USDA|VA) | 18 | $3,650,000 | $202,778 | $0 | 0.00% |
| REDDING, CA (FHA|USDA|VA) | 13 | $2,665,000 | $205,000 | $0 | 0.00% |
| Elko, NV (FHA|USDA|VA) | 13 | $2,515,000 | $193,462 | $0 | 0.00% |
| PORTLAND-VANCOUVER-HILLSBORO, OR-WA (FHA|USDA|VA) | 8 | $2,370,000 | $296,250 | $0 | 0.00% |
| Seattle-Tacoma-Bellevue, WA (FHA|USDA|VA) | 4 | $1,880,000 | $470,000 | $0 | 0.00% |
| CHICO, CA (FHA|USDA|VA) | 7 | $1,785,000 | $255,000 | $0 | 0.00% |
| Los Angeles-Long Beach-Anaheim, CA (FHA|USDA|VA) | 4 | $1,670,000 | $417,500 | $0 | 0.00% |
| Truckee-Grass Valley, CA (FHA|USDA|VA) | 6 | $1,650,000 | $275,000 | $0 | 0.00% |
| Sonora, CA (FHA|USDA|VA) | 6 | $1,620,000 | $270,000 | $0 | 0.00% |
| LAS VEGAS-HENDERSON-PARADISE, NV (FHA|USDA|VA) | 8 | $1,540,000 | $192,500 | $0 | 0.00% |
| RIVERSIDE-SAN BERNARDINO-ONTARIO, CA (FHA|USDA|VA) | 5 | $1,475,000 | $295,000 | $0 | 0.00% |
| MADERA, CA (FHA|USDA|VA) | 6 | $1,400,000 | $233,333 | $0 | 0.00% |
| Fernley, NV (FHA|USDA|VA) | 6 | $1,190,000 | $198,333 | $0 | 0.00% |
| SALINAS, CA (FHA|USDA|VA) | 4 | $1,190,000 | $297,500 | $0 | 0.00% |
| MERCED, CA (FHA|USDA|VA) | 4 | $1,120,000 | $280,000 | $0 | 0.00% |
| KAHULUI-WAILUKU-LAHAINA, HI (FHA|USDA|VA) | 1 | $985,000 | $985,000 | $0 | 0.00% |
| PHOENIX-MESA-CHANDLER, AZ (FHA|USDA|VA) | 5 | $985,000 | $197,000 | $0 | 0.00% |
| NAPA, CA (FHA|USDA|VA) | 2 | $960,000 | $480,000 | $0 | 0.00% |
| Eureka-Arcata, CA (FHA|USDA|VA) | 5 | $945,000 | $189,000 | $0 | 0.00% |
| BAKERSFIELD, CA (FHA|USDA|VA) | 4 | $820,000 | $205,000 | $0 | 0.00% |
| SALT LAKE CITY, UT (FHA|USDA|VA) | 5 | $795,000 | $159,000 | $0 | 0.00% |
| Roseburg, OR (FHA|USDA|VA) | 4 | $740,000 | $185,000 | $0 | 0.00% |
| Gardnerville Ranchos, NV (FHA|USDA|VA) | 2 | $680,000 | $340,000 | $0 | 0.00% |
| DENVER-AURORA-LAKEWOOD, CO (FHA|USDA|VA) | 2 | $650,000 | $325,000 | $0 | 0.00% |
| SANTA CRUZ-WATSONVILLE, CA (FHA|USDA|VA) | 1 | $545,000 | $545,000 | $0 | 0.00% |
| VISALIA, CA (FHA|USDA|VA) | 2 | $510,000 | $255,000 | $0 | 0.00% |
| PROVO-OREM, UT (FHA|USDA|VA) | 2 | $470,000 | $235,000 | $0 | 0.00% |
| BOISE CITY, ID (FHA|USDA|VA) | 2 | $470,000 | $235,000 | $0 | 0.00% |
| BILLINGS, MT (FHA|USDA|VA) | 1 | $335,000 | $335,000 | $0 | 0.00% |
| Heber, UT (FHA|USDA|VA) | 1 | $335,000 | $335,000 | $0 | 0.00% |
| URBAN HONOLULU, HI (FHA|USDA|VA) | 1 | $335,000 | $335,000 | $0 | 0.00% |
| Red Bluff, CA (FHA|USDA|VA) | 1 | $315,000 | $315,000 | $0 | 0.00% |
| Clearlake, CA (FHA|USDA|VA) | 2 | $290,000 | $145,000 | $0 | 0.00% |
| Newport, OR (FHA|USDA|VA) | 1 | $285,000 | $285,000 | $0 | 0.00% |
| CARSON CITY, NV (FHA|USDA|VA) | 1 | $275,000 | $275,000 | $0 | 0.00% |
| Outside of Metro Areas | 1 | $265,000 | $265,000 | $0 | 0.00% |
| Hilo, HI (FHA|USDA|VA) | 1 | $265,000 | $265,000 | $0 | 0.00% |
| Ukiah, CA (FHA|USDA|VA) | 1 | $245,000 | $245,000 | $0 | 0.00% |
| CINCINNATI, OH-KY-IN (FHA|USDA|VA) | 1 | $245,000 | $245,000 | $0 | 0.00% |
| PRESCOTT VALLEY-PRESCOTT, AZ (FHA|USDA|VA) | 1 | $235,000 | $235,000 | $0 | 0.00% |
| OGDEN-CLEARFIELD, UT (FHA|USDA|VA) | 1 | $195,000 | $195,000 | $0 | 0.00% |
| LONGVIEW, WA (FHA|USDA|VA) | 1 | $185,000 | $185,000 | $0 | 0.00% |
| COLUMBUS, OH (FHA|USDA|VA) | 1 | $185,000 | $185,000 | $0 | 0.00% |
| COLORADO SPRINGS, CO (FHA|USDA|VA) | 1 | $165,000 | $165,000 | $0 | 0.00% |
| Winnemucca, NV (FHA|USDA|VA) | 1 | $135,000 | $135,000 | $0 | 0.00% |
| Pahrump, NV (FHA|USDA|VA) | 1 | $115,000 | $115,000 | $0 | 0.00% |
| OKLAHOMA CITY, OK (FHA|USDA|VA) | 1 | $115,000 | $115,000 | $0 | 0.00% |
| ST. LOUIS, MO-IL (FHA|USDA|VA) | 1 | $105,000 | $105,000 | $0 | 0.00% |
| North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) | 1 | $105,000 | $105,000 | $0 | 0.00% |
| Fallon, NV (FHA|USDA|VA) | 1 | $105,000 | $105,000 | $0 | 0.00% |
| GRANTS PASS, OR (FHA|USDA|VA) | 1 | $95,000 | $95,000 | $0 | 0.00% |
| Coos Bay, OR (FHA|USDA|VA) | 1 | $55,000 | $55,000 | $0 | 0.00% |
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.
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Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 572 | $167,660,000 | $293,112 | $0 | 0.00% |
| FHA | 1 | $125,000 | $125,000 | $0 | 0.00% |
For 2020, Operating Engineers Local Union #3's most frequently originated type of loan was Conventional, with 572 originations. Their 2nd most popular type was FHA, with 1 originations.
Loan Reason
For 2020, Operating Engineers Local Union #3's most frequently cited loan purpose was Cash Out Refi, with 300 originations. The 2nd most popular reason was Refi, with 214 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Other | 573 | $167,785,000 | $292,818 | $0 | 0.00% |
For 2020, Operating Engineers Local Union #3's most frequently cited loan duration was Other, with 573 originations.
Loan Sizing
2020 saw Operating Engineers Local Union #3 place emphasis on $200k-400k loans with 300 originations, totaling $85,030,000 in origination value.
Applicant Income
Operating Engineers Local Union #3 lent most frequently to those with incomes in the $100k-150k range, with 213 originations. The second most popular income band? $150k-250k, with 128 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Exempt% | 573 | $167,785,000 | $292,818 | $0 | 0.00% |
Operating Engineers Local Union #3 lent most frequently to those with DTI ratios of Exempt%, with 573 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications96.62%
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 origination74.52%
Operating Engineers Local Union #3 has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| Exempt | 573 | $167,785,000 | $292,818 |