Central State Credit Union Mortgage Rates, Fees & Info
Stockton, CALEI: 254900Q9OGO5Z0CLLF57
Tax ID: 94-0362029
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Mortgage Data
Review & Overview
Central State Credit Union is a smaller credit union specializing in Home Purchase and Cash Out Refi loans. Central State Credit Union has a high proportion of conventional loans. Their top (well, only) market is Stockton.Central State Credit Union has a below average approval rate when compared to the average across all lenders. They have a below average pick rate when compared to similar lenders. Central State 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.
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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| 30 Year Conventional Purchase | 6.43% | 3/25/24 |
| 30 Year Cash-out Refi | 7.04% | 3/25/24 |
| 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. | ||
Central State Credit Union Mortgage Calculator
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
2Origination Dollar Volume (All Markets)
$300,000Top 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 |
|---|---|---|---|---|---|
| STOCKTON, CA (FHA|USDA|VA) | 1 | $235,000 | $235,000 | $4,467 | 3.88% |
| Outside of Metro Areas | 1 | $65,000 | $65,000 | $2,849 | 4.38% |
Their top states include:
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 2 | $300,000 | $150,000 | $3,658 | 4.13% |
For 2019, Central State Credit Union's most frequently originated type of loan was Conventional, with 2 originations.
Loan Reason
| Loan Reason | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Home Purchase | 1 | $235,000 | $235,000 | $4,467 | 3.88% |
| Cash Out Refi | 1 | $65,000 | $65,000 | $2,849 | 4.38% |
For 2019, Central State Credit Union's most frequently cited loan purpose was Home Purchase, with 1 originations. The 2nd most popular reason was Cash Out Refi, with 1 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| 15 Year | 1 | $235,000 | $235,000 | $4,467 | 3.88% |
| 30 Year | 1 | $65,000 | $65,000 | $2,849 | 4.38% |
For 2019, Central State Credit Union's most frequently cited loan duration was 15 Year, with 1 originations. The 2nd most popular length was 30 Year, with 1 originations.
Origination Fees/Closing Costs
| Origination Fee/Closing Cost | Originations | Total Value | Average Loan |
|---|---|---|---|
| $1k-2k | 2 | $300,000 | $150,000 |
Central State Credit Union's average total fees were $2,849, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 2 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 3-4% | 1 | $235,000 | $235,000 |
| 4-5% | 1 | $65,000 | $65,000 |
During 2019, Central State Credit Union's average interest rate for loans was 4.38%, while their most frequently originated rate bucket for loans was 3-4%, with 1 originations.
Loan Sizing
| Loan Size | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| $100,000 or less | 1 | $65,000 | $65,000 | $2,849 | 4.38% |
| $200k-400k | 1 | $235,000 | $235,000 | $4,467 | 3.88% |
2019 saw Central State Credit Union place emphasis on $100,000 or less loans with 1 originations, totaling $65,000 in origination value.
Applicant Income
| Applicant Income | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| $50k or less | 1 | $65,000 | $65,000 | $2,849 | 4.38% |
| $75k-100k | 1 | $235,000 | $235,000 | $4,467 | 3.88% |
Central State Credit Union lent most frequently to those with incomes in the $50k or less range, with 1 originations. The second most popular income band? $75k-100k, with 1 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| 30-36% | 1 | $65,000 | $65,000 | $2,849 | 4.38% |
| 39% | 1 | $235,000 | $235,000 | $4,467 | 3.88% |
Central State Credit Union lent most frequently to those with DTI ratios of 30-36%, with 1 originations. The next most common DTI ratio? 39%, with 1 originations.
Ethnicity Mix
| Applicant Ethnicity | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| White | 1 | $235,000 | $235,000 | $4,467 | 3.88% |
| Not provided | 1 | $65,000 | $65,000 | $2,849 | 4.38% |
Approval Rates
Total approvals of all applications46.67%
Central State Credit Union has a low approval rate. They may have poor market targeting or stringent lending standards.
Pick Rate
Approvals leading to origination-150.00%
Central State 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 |
|---|---|---|---|
| NA | 2 | $300,000 | $150,000 |
Occupancy Type Mix
| Dwelling Type | Originations | Total Value | Average Loan |
|---|---|---|---|
| Single Family (1-4 Units):Site-Built | 2 | $300,000 | $150,000 |
LTV Distribution
| Loan to Value | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| 60-80% | 1 | $235,000 | $235,000 | $4,467 | 3.88% |
| Under 20% | 1 | $65,000 | $65,000 | $2,849 | 4.38% |
Complaints
| Bank Name | Product | Issue | 2019 CPFB Complaints | % of Total Issues |
|---|---|---|---|---|
| CENTERSTATE BANK CORPORATION | Conventional home mortgage | Trouble during payment process | 1 | 50.0% |
| CENTERSTATE BANK CORPORATION | VA mortgage | Applying for a mortgage or refinancing an existing mortgage | 1 | 50.0% |