Orion Federal Credit Union Mortgage Rates, Fees & Info
Memphis, TNLEI: 254900U2ZPLWQTSD3158
Tax ID: 62-0586328
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Mortgage Data
Review & Overview
Orion Federal Credit Union is a smaller credit union specializing in Home Purchase and Cash Out Refi loans. Orion Federal Credit Union has a high proportion of conventional loans. They have a a low proportion of FHA loans. (This may mean they shy away from first time homebuyers.) Their top markets by origination volume include: Memphis, Nashville, Miami, Clarksville, and Crestview among others. We have data for 46 markets. (Some data included below & more in-depth data is available with an active subscription.)Orion Federal Credit Union has an above average approval rate when compared to the average across all lenders. They have a below average pick rate when compared to similar lenders. Orion Federal Credit Union is typically an average 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 | 6.32% | 12/16/24 |
| 30 Year Conventional Refi | 6.32% | 12/16/24 |
| 30 Year Cash-out Refi | 6.53% | 12/16/24 |
| 30 Year FHA Purchase | 7.30% | 12/16/24 |
| 30 Year FHA Refi | 7.80% | 12/16/24 |
| 30 Year VA Purchase | 6.27% | 12/16/24 |
| 30 Year VA Refi | 6.27% | 12/16/24 |
| 30 Year USDA Purchase | 6.27% | 12/16/24 |
| 15 Year Conventional Purchase | 6.35% | 12/16/24 |
| 15 Year Conventional Refi | 6.38% | 12/16/24 |
| 15 Year Cash-out Refi | 6.38% | 12/16/24 |
| 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. | ||
Orion Federal Credit Union Mortgage Calculator
Your Estimates
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
337Origination Dollar Volume (All Markets)
$155,675,000Top 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 |
|---|---|---|---|---|---|
| MEMPHIS, TN-MS-AR (FHA|USDA|VA) | 234 | $116,180,000 | $496,496 | $5,037 | 4.82% |
| NASHVILLE-DAVIDSON-MURFREESBORO-FRANKLIN, TN (FHA|USDA|VA) | 21 | $9,125,000 | $434,524 | $8,479 | 5.19% |
| Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) | 2 | $5,670,000 | $2,835,000 | $15,418 | 3.25% |
| CLARKSVILLE, TN-KY (FHA|USDA|VA) | 4 | $4,870,000 | $1,217,500 | $5,365 | 4.81% |
| CRESTVIEW-FORT WALTON BEACH-DESTIN, FL (FHA|USDA|VA) | 4 | $3,140,000 | $785,000 | $7,675 | 4.31% |
| Outside of Metro Areas | 7 | $1,455,000 | $207,857 | $4,600 | 4.79% |
| JACKSON, TN (FHA|USDA|VA) | 7 | $1,385,000 | $197,857 | $3,391 | 4.04% |
| CHATTANOOGA, TN-GA (FHA|USDA|VA) | 3 | $1,175,000 | $391,667 | $7,630 | 5.42% |
| FAYETTEVILLE-SPRINGDALE-ROGERS, AR (FHA|USDA|VA) | 4 | $1,150,000 | $287,500 | $3,262 | 4.87% |
| Cookeville, TN (FHA|USDA|VA) | 3 | $835,000 | $278,333 | $6,275 | 5.63% |
| LITTLE ROCK-NORTH LITTLE ROCK-CONWAY, AR (FHA|USDA|VA) | 3 | $785,000 | $261,667 | $5,130 | 3.87% |
| LYNCHBURG, VA (FHA|USDA|VA) | 1 | $775,000 | $775,000 | $12,557 | 5.60% |
| DENVER-AURORA-LAKEWOOD, CO (FHA|USDA|VA) | 1 | $665,000 | $665,000 | $9,378 | 5.00% |
| New York-Newark-Jersey City, NY-NJ-PA (FHA|USDA|VA) | 1 | $595,000 | $595,000 | $11,557 | 4.88% |
| HOUSTON-THE WOODLANDS-SUGAR LAND, TX (FHA|USDA|VA) | 2 | $560,000 | $280,000 | $0 | 5.50% |
| ATLANTA-SANDY SPRINGS-ALPHARETTA, GA (FHA|USDA|VA) | 2 | $470,000 | $235,000 | $6,272 | 4.44% |
| GULFPORT-BILOXI, MS (FHA|USDA|VA) | 2 | $450,000 | $225,000 | $5,710 | 5.43% |
| Seattle-Tacoma-Bellevue, WA (FHA|USDA|VA) | 1 | $405,000 | $405,000 | $2,958 | 3.88% |
| TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) | 1 | $385,000 | $385,000 | $4,565 | 4.25% |
| KNOXVILLE, TN (FHA|USDA|VA) | 1 | $365,000 | $365,000 | $7,620 | 6.40% |
| LAS VEGAS-HENDERSON-PARADISE, NV (FHA|USDA|VA) | 1 | $355,000 | $355,000 | $1,704 | 3.75% |
| Findlay, OH (FHA|USDA|VA) | 1 | $355,000 | $355,000 | $7,564 | 4.25% |
| RIVERSIDE-SAN BERNARDINO-ONTARIO, CA (FHA|USDA|VA) | 1 | $335,000 | $335,000 | $7,984 | 5.25% |
| JACKSON, MS (FHA|USDA|VA) | 4 | $290,000 | $72,500 | $0 | 4.75% |
| Crossville, TN (FHA|USDA|VA) | 2 | $280,000 | $140,000 | $6,125 | 6.31% |
| JOHNSON CITY, TN (FHA|USDA|VA) | 1 | $275,000 | $275,000 | $6,910 | 5.38% |
| KANSAS CITY, MO-KS (FHA|USDA|VA) | 2 | $270,000 | $135,000 | $0 | 4.00% |
| Shelbyville, TN (FHA|USDA|VA) | 1 | $265,000 | $265,000 | $10,594 | 5.75% |
| Oxford, MS (FHA|USDA|VA) | 1 | $255,000 | $255,000 | $0 | 5.45% |
| West Point, MS (FHA|USDA|VA) | 1 | $235,000 | $235,000 | $4,224 | 4.75% |
| Tullahoma-Manchester, TN (FHA|USDA|VA) | 1 | $215,000 | $215,000 | $8,812 | 5.63% |
| Brownsville, TN (FHA|USDA|VA) | 1 | $205,000 | $205,000 | $3,532 | 7.13% |
| JACKSONVILLE, FL (FHA|USDA|VA) | 1 | $195,000 | $195,000 | $2,215 | 3.75% |
| SPOKANE-SPOKANE VALLEY, WA (FHA|USDA|VA) | 1 | $195,000 | $195,000 | $0 | 3.50% |
| BIRMINGHAM-HOOVER, AL (FHA|USDA|VA) | 1 | $195,000 | $195,000 | $0 | 4.00% |
| NEW ORLEANS-METAIRIE, LA (FHA|USDA|VA) | 2 | $190,000 | $95,000 | $0 | 5.43% |
| Chicago-Naperville-Elgin, IL-IN-WI (FHA|USDA|VA) | 1 | $185,000 | $185,000 | $7,101 | 5.75% |
| Ottawa, IL (FHA|USDA|VA) | 2 | $150,000 | $75,000 | $0 | 4.98% |
| CLEVELAND-ELYRIA, OH (FHA|USDA|VA) | 1 | $125,000 | $125,000 | $0 | 5.50% |
| Corinth, MS (FHA|USDA|VA) | 1 | $125,000 | $125,000 | $2,840 | 5.50% |
| AUSTIN-ROUND ROCK-GEORGETOWN, TX (FHA|USDA|VA) | 1 | $125,000 | $125,000 | $0 | 6.63% |
| Ruston, LA (FHA|USDA|VA) | 1 | $95,000 | $95,000 | $3,066 | 5.25% |
| Pontiac, IL (FHA|USDA|VA) | 1 | $95,000 | $95,000 | $0 | 5.20% |
| Harrison, AR (FHA|USDA|VA) | 1 | $95,000 | $95,000 | $0 | 3.87% |
| PINE BLUFF, AR (FHA|USDA|VA) | 1 | $65,000 | $65,000 | $2,992 | 4.49% |
| Mountain Home, AR (FHA|USDA|VA) | 1 | $65,000 | $65,000 | $0 | 5.00% |
Similar Lenders
We use machine learning to identify the top lenders compared against Orion Federal 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 | 315 | $150,495,000 | $477,762 | $5,153 | 4.80% |
| FHA | 22 | $5,180,000 | $235,455 | $9,196 | 5.48% |
For 2022, Orion Federal Credit Union's most frequently originated type of loan was Conventional, with 315 originations. Their 2nd most popular type was FHA, with 22 originations.
Loan Reason
For 2022, Orion Federal Credit Union's most frequently cited loan purpose was Home Purchase, with 228 originations. The 2nd most popular reason was Cash Out Refi, with 91 originations.
Loan Duration/Length
For 2022, Orion Federal Credit Union's most frequently cited loan duration was 30 Year, with 268 originations. The 2nd most popular length was 15 Year, with 53 originations.
Origination Fees/Closing Costs
Orion Federal Credit Union's average total fees were $5,840, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 96 originations.
Interest Rates
During 2022, Orion Federal Credit Union's average interest rate for loans was 4.89%, while their most frequently originated rate bucket for loans was 5-6%, with 96 originations.
Loan Sizing
2022 saw Orion Federal Credit Union place emphasis on $200k-400k loans with 113 originations, totaling $31,605,000 in origination value.
Applicant Income
Orion Federal Credit Union lent most frequently to those with incomes in the $50k-75k range, with 73 originations. The second most popular income band? $100k-150k, with 66 originations.
Applicant Debt to Income Ratio
Orion Federal Credit Union lent most frequently to those with DTI ratios of 20-30%, with 76 originations. The next most common DTI ratio? 30-36%, with 53 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications97.23%
Orion Federal 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 origination51.34%
Orion 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 | 337 | $155,675,000 | $461,944 |