The Focus Federal Credit Union Mortgage Rates, Fees & Info
Oklahoma City, OKLEI: 254900R3GSQ9SP0VJU09
Tax ID: 73-0666790
Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data
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Mortgage Data
Review & Overview
The Focus Federal Credit Union is a smaller credit union specializing in Refi loans. The Focus Federal Credit Union has a high proportion of conventional loans. Their top markets by origination volume include: Oklahoma City, Shawnee, Ada, Guymon, and Duncan among others. We have data for 6 markets. (Some data included below & more in-depth data is available with an active subscription.)The Focus Federal Credit Union has an 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 | 6.27% | 11/21/24 |
| 15 Year Conventional Purchase | 5.68% | 11/21/24 |
| 15 Year Conventional Refi | 5.68% | 11/21/24 |
| 15 Year Cash-out Refi | 5.68% | 11/21/24 |
| 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. | ||
The Focus Federal 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
84Origination Dollar Volume (All Markets)
$8,700,000Top 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 |
|---|---|---|---|---|---|
| OKLAHOMA CITY, OK (FHA|USDA|VA) | 72 | $6,680,000 | $92,778 | $1,192 | 3.52% |
| Outside of Metro Areas | 5 | $1,105,000 | $221,000 | $1,628 | 3.30% |
| Shawnee, OK (FHA|USDA|VA) | 2 | $340,000 | $170,000 | $1,647 | 3.00% |
| Ada, OK (FHA|USDA|VA) | 2 | $240,000 | $120,000 | $1,647 | 4.44% |
| Guymon, OK (FHA|USDA|VA) | 2 | $180,000 | $90,000 | $1,001 | 4.25% |
| Duncan, OK (FHA|USDA|VA) | 1 | $155,000 | $155,000 | $2,836 | 2.75% |
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 84 | $8,700,000 | $103,571 | $1,254 | 3.53% |
For 2021, The Focus Federal Credit Union's most frequently originated type of loan was Conventional, with 84 originations.
Loan Reason
For 2021, The Focus Federal Credit Union's most frequently cited loan purpose was Refi, with 38 originations. The 2nd most popular reason was Other, with 18 originations.
Loan Duration/Length
For 2021, The Focus Federal Credit Union's most frequently cited loan duration was 15 Year, with 66 originations. The 2nd most popular length was 10 Year, with 9 originations.
Origination Fees/Closing Costs
| Origination Fee/Closing Cost | Originations | Total Value | Average Loan |
|---|---|---|---|
| $<1k | 64 | $4,120,000 | $64,375 |
| $1k-2k | 19 | $3,905,000 | $205,526 |
| $3k-4k | 1 | $675,000 | $675,000 |
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 64 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 2.5-3% | 51 | $7,065,000 | $138,529 |
| 4-5% | 15 | $695,000 | $46,333 |
| 5-6% | 10 | $530,000 | $53,000 |
| 3-4% | 8 | $410,000 | $51,250 |
During 2021, The Focus Federal Credit Union's average interest rate for loans was 0.00%, while their most frequently originated rate bucket for loans was 2.5-3%, with 51 originations.
Loan Sizing
2021 saw The Focus Federal Credit Union place emphasis on $100,000 or less loans with 51 originations, totaling $2,555,000 in origination value.
Applicant Income
The Focus Federal Credit Union lent most frequently to those with incomes in the $50k-75k range, with 21 originations. The second most popular income band? $100k-150k, with 18 originations.
Applicant Debt to Income Ratio
The Focus Federal Credit Union lent most frequently to those with DTI ratios of 20-30%, with 26 originations. The next most common DTI ratio? 30-36%, with 18 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications79.08%
The Focus Federal Credit Union has a below average approval rate.
Pick Rate
Approvals leading to origination55.95%
The Focus Federal 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 | 84 | $8,700,000 | $103,571 |