California Bear Credit Union Mortgage Rates, Fees & Info
Los Angeles, CALEI: 254900SJMHCSRQOMRK11
Tax ID: 95-0598145
Latest/2022 | 2021 Data | 2020 Data | 2019 Data | 2018 Data
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Mortgage Data
Review & Overview
California Bear Credit Union is a smaller credit union specializing in Cash Out Refi and Refi loans. California Bear Credit Union has a high proportion of conventional loans. Their top markets by origination volume include: Los Angeles, Riverside, and Oxnard among others. We have data for 3 markets. (Some data included below & more in-depth data is available with an active subscription.)California Bear Credit Union has an above average approval rate when compared to the average across all lenders. California Bear Credit Union is typically a high 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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Originations
39Origination Dollar Volume (All Markets)
$17,285,000Top 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 |
|---|---|---|---|---|---|
| Los Angeles-Long Beach-Anaheim, CA (FHA|USDA|VA) | 33 | $14,355,000 | $435,000 | $8,580 | 3.13% |
| RIVERSIDE-SAN BERNARDINO-ONTARIO, CA (FHA|USDA|VA) | 5 | $2,535,000 | $507,000 | $8,065 | 3.17% |
| OXNARD-THOUSAND OAKS-VENTURA, CA (FHA|USDA|VA) | 1 | $395,000 | $395,000 | $7,134 | 3.15% |
Their top states include:
Similar Lenders
We use machine learning to identify the top lenders compared against California Bear Credit Union 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 | 39 | $17,285,000 | $443,205 | $8,477 | 3.13% |
For 2021, California Bear Credit Union's most frequently originated type of loan was Conventional, with 39 originations.
Loan Reason
For 2021, California Bear Credit Union's most frequently cited loan purpose was Cash Out Refi, with 25 originations. The 2nd most popular reason was Refi, with 13 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| 30 Year | 37 | $16,635,000 | $449,595 | $8,491 | 3.18% |
| 15 Year | 2 | $650,000 | $325,000 | $8,203 | 2.31% |
For 2021, California Bear Credit Union's most frequently cited loan duration was 30 Year, with 37 originations. The 2nd most popular length was 15 Year, with 2 originations.
Origination Fees/Closing Costs
California Bear Credit Union's average total fees were $8,491, while their most frequently occuring range of origination fees (closing costs) were in the $5k+ bucket, with 21 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 3-4% | 22 | $11,620,000 | $528,182 |
| 2.5-3% | 15 | $5,015,000 | $334,333 |
| <2.5% | 2 | $650,000 | $325,000 |
During 2021, California Bear Credit Union's average interest rate for loans was 3.18%, while their most frequently originated rate bucket for loans was 3-4%, with 22 originations.
Loan Sizing
2021 saw California Bear Credit Union place emphasis on $200k-400k loans with 13 originations, totaling $3,825,000 in origination value.
Applicant Income
California Bear Credit Union lent most frequently to those with incomes in the $100k-150k range, with 13 originations. The second most popular income band? $150k-250k, with 12 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| <20% | 36 | $16,340,000 | $453,889 | $8,915 | 3.13% |
| 30-36% | 2 | $620,000 | $310,000 | $3,732 | 3.38% |
| 20-30% | 1 | $325,000 | $325,000 | $2,180 | 2.88% |
California Bear Credit Union lent most frequently to those with DTI ratios of <20%, with 36 originations. The next most common DTI ratio? 30-36%, with 2 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications97.56%
California Bear Credit Union has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.
Pick Rate
Approvals leading to originationPoints and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 39 | $17,285,000 | $443,205 |
LTV Distribution
Complaints
| Bank Name | Product | Issue | 2021 CPFB Complaints | % of Total Issues |
|---|---|---|---|---|
| Caliver Beach Mortgage, LLC | FHA mortgage | Applying for a mortgage or refinancing an existing mortgage | 1 | 50.0% |
| Caliver Beach Mortgage, LLC | VA mortgage | Trouble during payment process | 1 | 50.0% |