The Focus Federal Credit Union Mortgage Rates, Fees & Info

Oklahoma City, OK

LEI: 254900R3GSQ9SP0VJU09

Tax ID: 73-0666790

Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data

Review & Overview

The Focus Federal Credit Union is a smaller credit union specializing in Cash Out Refi and Home Purchase loans. The Focus Federal Credit Union has a high proportion of conventional loans. Their top markets by origination volume include: Oklahoma City, Ardmore, and Shawnee among others. We have data for 4 markets. (Some data included below & more in-depth data is available with an active subscription.)

The Focus Federal Credit Union has a below average approval rate when compared to the average across all 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	6.27%	11/23/24
15 Year Conventional Purchase	5.68%	11/23/24
15 Year Conventional Refi	5.68%	11/23/24
15 Year Cash-out Refi	5.68%	11/23/24
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.

The Focus Federal Credit Union Mortgage Calculator

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This is not an official calculator from The Focus Federal Credit Union. 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

Origination Dollar Volume (All Markets)

$5,935,000

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
OKLAHOMA CITY, OK (FHA\|USDA\|VA)	57	$5,695,000	$99,912	$1,680	4.85%
Outside of Metro Areas	2	$190,000	$95,000	$1,478	4.25%
Ardmore, OK (FHA\|USDA\|VA)	1	$25,000	$25,000	$810	4.75%
Shawnee, OK (FHA\|USDA\|VA)	1	$25,000	$25,000	$769	4.25%

The Focus Federal Credit Union's top markets include Oklahoma City, Ardmore, and Shawnee among others.

Their top states include:

Oklahoma (FHA|USDA|VA)

Product Mix

Loan Type	Originations	Total Value	Avg. Loan	Avg. Fees	Avg. Rate
Conventional	61	$5,935,000	$97,295	$1,640	4.82%

For 2018, The Focus Federal Credit Union's most frequently originated type of loan was Conventional, with 61 originations.

Loan Reason

Loan Reason	Originations	Total Value	Avg. Loan	Avg. Fees	Avg. Rate
Cash Out Refi	22	$2,950,000	$134,091	$1,901	4.45%
Home Improvement	21	$1,015,000	$48,333	$1,023	5.12%
Home Purchase	10	$1,470,000	$147,000	$2,749	5.08%
Refi	5	$335,000	$67,000	$953	4.48%
Other	3	$165,000	$55,000	$818	5.17%

For 2018, The Focus Federal Credit Union's most frequently cited loan purpose was Cash Out Refi, with 22 originations. The 2nd most popular reason was Home Improvement, with 21 originations.

Loan Duration/Length

Loan Length	Originations	Total Value	Average Loan	Average Fees	Average Rate
15 Year	42	$5,040,000	$120,000	$1,812	4.60%
10 Year	14	$640,000	$45,714	$1,079	5.46%
Other	5	$255,000	$51,000	$824	4.90%

For 2018, The Focus Federal Credit Union's most frequently cited loan duration was 15 Year, with 42 originations. The 2nd most popular length was 10 Year, with 14 originations.

Origination Fees/Closing Costs

Origination Fee/Closing Cost	Originations	Total Value	Average Loan
$<1k	43	$3,035,000	$70,581
$1k-2k	9	$2,455,000	$272,778

The Focus Federal Credit Union's average total fees were $0, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 43 originations.

Interest Rates

Loan Rate	Originations	Total Value	Average Loan
4-5%	35	$4,015,000	$114,714
5-6%	14	$610,000	$43,571
3-4%	8	$1,070,000	$133,750
6-7%	4	$240,000	$60,000

During 2018, The Focus Federal Credit Union's average interest rate for loans was 0.00%, while their most frequently originated rate bucket for loans was 4-5%, with 35 originations.

Loan Sizing

Loan Size	Originations	Total Value	Average Loan	Average Fees	Average Rate
$100,000 or less	38	$1,650,000	$43,421	$1,067	5.06%
$100k-200k	17	$2,335,000	$137,353	$1,936	4.50%
$200k-400k	5	$1,545,000	$309,000	$3,965	4.28%
$400k-600k	1	$405,000	$405,000	$3,576	4.00%

2018 saw The Focus Federal Credit Union place emphasis on $100,000 or less loans with 38 originations, totaling $1,650,000 in origination value.

Applicant Income

Applicant Income	Originations	Total Value	Average Loan	Average Fees	Average Rate
$50k or less	15	$775,000	$51,667	$1,055	4.72%
$50k-75k	13	$1,005,000	$77,308	$1,367	4.58%
$75k-100k	13	$1,245,000	$95,769	$2,092	5.01%
$150k-250k	12	$2,220,000	$185,000	$2,302	4.79%
$100k-150k	8	$690,000	$86,250	$1,539	5.14%

The Focus Federal Credit Union lent most frequently to those with incomes in the $50k or less range, with 15 originations. The second most popular income band? $50k-75k, with 13 originations.

Applicant Debt to Income Ratio

DTI Ratio	Originations	Total Value	Average Loan	Average Fees	Average Rate
20-30%	25	$2,295,000	$91,800	$1,556	4.76%
30-36%	13	$1,485,000	$114,231	$1,769	4.51%
<20%	6	$620,000	$103,333	$2,467	4.60%
42%	6	$600,000	$100,000	$1,262	5.19%
40%	4	$430,000	$107,500	$1,487	5.06%
38%	3	$145,000	$48,333	$781	5.46%
41%	2	$60,000	$30,000	$801	5.13%
39%	1	$135,000	$135,000	$1,485	6.50%
37%	1	$165,000	$165,000	$3,219	4.25%

The Focus Federal Credit Union lent most frequently to those with DTI ratios of 20-30%, with 25 originations. The next most common DTI ratio? 30-36%, with 13 originations.

Ethnicity Mix

Applicant Ethnicity	Originations	Total Value	Average Loan	Average Fees	Average Rate
White	49	$5,055,000	$103,163	$1,696	4.81%
Black	6	$390,000	$65,000	$991	4.81%
Asian Indian	1	$185,000	$185,000	$2,327	4.25%
Japanese	1	$105,000	$105,000	$0	5.00%
Vietnamese	2	$100,000	$50,000	$2,771	5.13%
Other Asian	2	$100,000	$50,000	$897	4.88%

Approval Rates

Total approvals of all applications
69.32%

The Focus Federal Credit Union has a low approval rate. They may have poor market targeting or stringent lending standards.

Pick Rate

Approvals leading to origination

Points and Fees

Points	Originations	Total Value	Average Loan
NA	61	$5,935,000	$97,295

Occupancy Type Mix

Dwelling Type	Originations	Total Value	Average Loan
Single Family (1-4 Units):Site-Built	61	$5,935,000	$97,295

LTV Distribution

Loan to Value	Originations	Total Value	Average Loan	Average Fees	Average Rate
20-40%	10	$670,000	$67,000	$1,215	5.25%
40-60%	11	$885,000	$80,455	$1,498	4.89%
60-80%	17	$1,765,000	$103,824	$1,490	4.35%
80-100%	12	$2,350,000	$195,833	$2,764	4.37%
Under 20%	11	$265,000	$24,091	$784	5.58%