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 Home Purchase loans. Operating Engineers Local Union #3 has a high proportion of conventional loans. Their top markets by origination volume include: San Francisco, Stockton, Reno, Sacramento, and Santa Rosa among others. We have data for 67 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 an above 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% | 4/28/24 |
| 30 Year Conventional Refi | 5.76% | 4/28/24 |
| 30 Year Cash-out Refi | 5.78% | 4/28/24 |
| 15 Year Conventional Purchase | 4.89% | 4/28/24 |
| 15 Year Conventional Refi | 5.40% | 4/28/24 |
| 15 Year Cash-out Refi | 5.40% | 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. | ||
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
275Origination Dollar Volume (All Markets)
$89,525,000Awards
Operating Engineers Local Union #3 - 2022
Operating Engineers Local Union #3 is a 2022 , due to their low .
For 2022, 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) | 38 | $18,310,000 | $481,842 | $3,907 | 3.34% |
| STOCKTON, CA (FHA|USDA|VA) | 22 | $6,450,000 | $293,182 | $3,188 | 3.60% |
| RENO, NV (FHA|USDA|VA) | 20 | $6,120,000 | $306,000 | $3,957 | 3.67% |
| SACRAMENTO-ROSEVILLE-FOLSOM, CA (FHA|USDA|VA) | 20 | $5,920,000 | $296,000 | $3,580 | 3.64% |
| Outside of Metro Areas | 25 | $5,345,000 | $213,800 | $3,601 | 3.41% |
| SANTA ROSA-PETALUMA, CA (FHA|USDA|VA) | 7 | $4,145,000 | $592,143 | $4,726 | 3.88% |
| MODESTO, CA (FHA|USDA|VA) | 11 | $3,495,000 | $317,727 | $3,265 | 3.66% |
| VALLEJO, CA (FHA|USDA|VA) | 8 | $3,290,000 | $411,250 | $4,343 | 3.05% |
| SAN JOSE-SUNNYVALE-SANTA CLARA, CA (FHA|USDA|VA) | 6 | $2,970,000 | $495,000 | $3,268 | 3.71% |
| YUBA CITY, CA (FHA|USDA|VA) | 11 | $2,485,000 | $225,909 | $3,345 | 3.66% |
| FRESNO, CA (FHA|USDA|VA) | 10 | $2,230,000 | $223,000 | $3,146 | 3.71% |
| PHOENIX-MESA-CHANDLER, AZ (FHA|USDA|VA) | 3 | $1,865,000 | $621,667 | $6,158 | 4.29% |
| REDDING, CA (FHA|USDA|VA) | 6 | $1,720,000 | $286,667 | $3,199 | 4.08% |
| Elko, NV (FHA|USDA|VA) | 7 | $1,575,000 | $225,000 | $3,505 | 4.20% |
| Truckee-Grass Valley, CA (FHA|USDA|VA) | 4 | $1,360,000 | $340,000 | $3,287 | 4.53% |
| PORTLAND-VANCOUVER-HILLSBORO, OR-WA (FHA|USDA|VA) | 3 | $1,175,000 | $391,667 | $4,521 | 2.88% |
| MADERA, CA (FHA|USDA|VA) | 4 | $1,140,000 | $285,000 | $3,476 | 4.03% |
| CHICO, CA (FHA|USDA|VA) | 4 | $1,030,000 | $257,500 | $3,477 | 4.22% |
| Los Angeles-Long Beach-Anaheim, CA (FHA|USDA|VA) | 2 | $1,010,000 | $505,000 | $4,893 | 4.56% |
| KAHULUI-WAILUKU-LAHAINA, HI (FHA|USDA|VA) | 1 | $955,000 | $955,000 | $5,083 | 4.00% |
| LAS VEGAS-HENDERSON-PARADISE, NV (FHA|USDA|VA) | 3 | $945,000 | $315,000 | $3,598 | 4.29% |
| VISALIA, CA (FHA|USDA|VA) | 2 | $930,000 | $465,000 | $4,430 | 3.06% |
| Hilo, HI (FHA|USDA|VA) | 2 | $910,000 | $455,000 | $5,146 | 2.94% |
| Ukiah, CA (FHA|USDA|VA) | 2 | $760,000 | $380,000 | $4,289 | 4.06% |
| BILLINGS, MT (FHA|USDA|VA) | 3 | $755,000 | $251,667 | $5,669 | 3.79% |
| Sonora, CA (FHA|USDA|VA) | 3 | $635,000 | $211,667 | $3,226 | 3.67% |
| Fernley, NV (FHA|USDA|VA) | 3 | $595,000 | $198,333 | $3,451 | 3.17% |
| NAPA, CA (FHA|USDA|VA) | 2 | $570,000 | $285,000 | $3,005 | 4.06% |
| Dallas-Fort Worth-Arlington, TX (FHA|USDA|VA) | 2 | $520,000 | $260,000 | $4,840 | 4.19% |
| Brookings, OR (FHA|USDA|VA) | 1 | $485,000 | $485,000 | $5,185 | 2.75% |
| SALT LAKE CITY, UT (FHA|USDA|VA) | 3 | $485,000 | $161,667 | $2,883 | 3.17% |
| Red Bluff, CA (FHA|USDA|VA) | 2 | $470,000 | $235,000 | $3,082 | 4.31% |
| BOISE CITY, ID (FHA|USDA|VA) | 1 | $455,000 | $455,000 | $5,028 | 2.63% |
| SAN LUIS OBISPO-PASO ROBLES, CA (FHA|USDA|VA) | 1 | $405,000 | $405,000 | $5,560 | 4.50% |
| SANTA CRUZ-WATSONVILLE, CA (FHA|USDA|VA) | 1 | $395,000 | $395,000 | $3,477 | 3.50% |
| Ruidoso, NM (FHA|USDA|VA) | 1 | $385,000 | $385,000 | $3,460 | 4.75% |
| SALINAS, CA (FHA|USDA|VA) | 1 | $385,000 | $385,000 | $2,777 | 3.38% |
| SPOKANE-SPOKANE VALLEY, WA (FHA|USDA|VA) | 1 | $365,000 | $365,000 | $2,655 | 3.00% |
| Newport, OR (FHA|USDA|VA) | 1 | $335,000 | $335,000 | $4,424 | 3.25% |
| TUCSON, AZ (FHA|USDA|VA) | 1 | $325,000 | $325,000 | $4,950 | 4.63% |
| DAPHNE-FAIRHOPE-FOLEY, AL (FHA|USDA|VA) | 1 | $315,000 | $315,000 | $3,440 | 4.88% |
| JACKSONVILLE, FL (FHA|USDA|VA) | 1 | $315,000 | $315,000 | $4,764 | 2.13% |
| Crescent City, CA (FHA|USDA|VA) | 1 | $315,000 | $315,000 | $4,291 | 3.25% |
| KANSAS CITY, MO-KS (FHA|USDA|VA) | 1 | $305,000 | $305,000 | $3,463 | 4.88% |
| Clearlake, CA (FHA|USDA|VA) | 1 | $305,000 | $305,000 | $4,753 | 5.00% |
| Eureka-Arcata, CA (FHA|USDA|VA) | 1 | $295,000 | $295,000 | $4,252 | 2.88% |
| ASHEVILLE, NC (FHA|USDA|VA) | 1 | $275,000 | $275,000 | $2,967 | 4.88% |
| Coos Bay, OR (FHA|USDA|VA) | 1 | $275,000 | $275,000 | $4,161 | 4.50% |
| Cookeville, TN (FHA|USDA|VA) | 1 | $275,000 | $275,000 | $3,987 | 3.13% |
| Rolla, MO (FHA|USDA|VA) | 1 | $265,000 | $265,000 | $3,533 | 4.88% |
| CLARKSVILLE, TN-KY (FHA|USDA|VA) | 1 | $245,000 | $245,000 | $4,182 | 5.63% |
| OGDEN-CLEARFIELD, UT (FHA|USDA|VA) | 1 | $245,000 | $245,000 | $7,546 | 5.13% |
| DELTONA-DAYTONA BEACH-ORMOND BEACH, FL (FHA|USDA|VA) | 1 | $245,000 | $245,000 | $4,318 | 3.38% |
| DENVER-AURORA-LAKEWOOD, CO (FHA|USDA|VA) | 1 | $215,000 | $215,000 | $3,552 | 3.75% |
| Winnemucca, NV (FHA|USDA|VA) | 1 | $215,000 | $215,000 | $3,979 | 5.25% |
| SPRINGFIELD, MO (FHA|USDA|VA) | 1 | $205,000 | $205,000 | $2,927 | 3.13% |
| PITTSBURGH, PA (FHA|USDA|VA) | 1 | $175,000 | $175,000 | $4,604 | 5.63% |
| CASPER, WY (FHA|USDA|VA) | 1 | $175,000 | $175,000 | $2,830 | 3.88% |
| CHEYENNE, WY (FHA|USDA|VA) | 1 | $165,000 | $165,000 | $3,587 | 2.38% |
| ST. GEORGE, UT (FHA|USDA|VA) | 1 | $155,000 | $155,000 | $2,683 | 2.88% |
| GREENSBORO-HIGH POINT, NC (FHA|USDA|VA) | 1 | $155,000 | $155,000 | $3,355 | 5.63% |
| HOT SPRINGS, AR (FHA|USDA|VA) | 1 | $145,000 | $145,000 | $2,830 | 2.88% |
| Sedalia, MO (FHA|USDA|VA) | 1 | $135,000 | $135,000 | $2,922 | 5.00% |
| Dickinson, ND (FHA|USDA|VA) | 1 | $125,000 | $125,000 | $3,059 | 4.50% |
| Yankton, SD (FHA|USDA|VA) | 1 | $115,000 | $115,000 | $2,938 | 3.38% |
| MERCED, CA (FHA|USDA|VA) | 1 | $85,000 | $85,000 | $2,582 | 4.38% |
| McAlester, OK (FHA|USDA|VA) | 1 | $85,000 | $85,000 | $3,902 | 4.75% |
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 | 275 | $89,525,000 | $325,545 | $3,736 | 3.68% |
For 2022, Operating Engineers Local Union #3's most frequently originated type of loan was Conventional, with 275 originations.
Loan Reason
For 2022, Operating Engineers Local Union #3's most frequently cited loan purpose was Cash Out Refi, with 149 originations. The 2nd most popular reason was Home Purchase, with 95 originations.
Loan Duration/Length
For 2022, Operating Engineers Local Union #3's most frequently cited loan duration was 30 Year, with 210 originations. The 2nd most popular length was 15 Year, with 37 originations.
Origination Fees/Closing Costs
Operating Engineers Local Union #3's average total fees were $3,924, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 264 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 3-4% | 93 | $34,625,000 | $372,312 |
| 4-5% | 69 | $23,505,000 | $340,652 |
| 2.5-3% | 66 | $18,030,000 | $273,182 |
| <2.5% | 24 | $7,070,000 | $294,583 |
| 5-6% | 23 | $6,295,000 | $273,696 |
During 2022, Operating Engineers Local Union #3's average interest rate for loans was 3.84%, while their most frequently originated rate bucket for loans was 3-4%, with 93 originations.
Loan Sizing
2022 saw Operating Engineers Local Union #3 place emphasis on $200k-400k loans with 127 originations, totaling $37,355,000 in origination value.
Applicant Income
Operating Engineers Local Union #3 lent most frequently to those with incomes in the $100k-150k range, with 103 originations. The second most popular income band? $75k-100k, with 59 originations.
Applicant Debt to Income Ratio
Operating Engineers Local Union #3 lent most frequently to those with DTI ratios of 20-30%, with 71 originations. The next most common DTI ratio? 30-36%, with 68 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications96.21%
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 origination90.18%
Operating Engineers Local Union #3 has an average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 275 | $89,525,000 | $325,545 |