Municipal Employees Credit Union Of Oklahoma City Mortgage Rates, Fees & Info

Oklahoma City, OK

LEI: 254900Y4P4X4Y1L26R43

Tax ID: 73-0366010

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

Jump to:

  • SimulatedRates™
  • Mortgage Calculator

    • Mortgage Data

  • Originations
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • Similar Lenders
  • Loan Length
  • Loan to Value Info
  • Debt-to-Income
  • Applicant Income
  • Ethnicity Info
  • Approval & Pick Rates
  • Points and Fees
  • Origination Fees (Closing Costs)

    • Review & Overview

    Municipal Employees Credit Union Of Oklahoma City is a smaller credit union specializing in Home Purchase and Cash Out Refi loans. Municipal Employees Credit Union Of Oklahoma City has a high proportion of conventional loans. Their top two markets are Oklahoma City and Shawnee .

    Municipal Employees Credit Union Of Oklahoma City 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. Municipal Employees Credit Union Of Oklahoma City 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.

    Mortgage seekers: Choose your metro area here to explore the lowest fee & rate lenders.

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    SimulatedRates™

    Mortgage Type     		Simulated Rate Simulation Date
    30 Year Conventional Purchase 6.64% 12/16/24
    30 Year Conventional Refi 5.97% 12/16/24
    30 Year Cash-out Refi 6.86% 12/16/24
    15 Year Conventional Purchase 5.68% 12/16/24
    15 Year Conventional Refi 6.37% 12/16/24
    15 Year Cash-out Refi 6.37% 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.

    Municipal Employees Credit Union Of Oklahoma City Mortgage Calculator






    Your Estimates

    Estimated Loan Payment: Update the calculator values and click calculate payment!

    This is not an official calculator from Municipal Employees Credit Union Of Oklahoma City. 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

    30

    Origination Dollar Volume (All Markets)

    $6,160,000

    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) 28 $5,980,000 $213,571 $4,322 5.09%
    Outside of Metro Areas 1 $95,000 $95,000 $2,953 5.13%
    Shawnee, OK (FHA|USDA|VA) 1 $85,000 $85,000 $2,900 6.25%
    Municipal Employees Credit Union Of Oklahoma City's top markets include Oklahoma City and Shawnee among others.

    Their top states include:
  • Oklahoma (FHA|USDA|VA)

    • Similar Lenders

    We use machine learning to identify the top lenders compared against Municipal Employees Credit Union of Oklahoma City based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.

    WEOKIE
    Similarity Rank: 165
    ALLEGIANCE
    Similarity Rank: 176
    TRUE SKY
    Similarity Rank: 192
    Vision Bank
    Similarity Rank: 300
    Municipal Employees Credit Union of Oklahoma City
    Similarity Rank: 369
    STAR ONE CREDIT UNION
    Similarity Rank: 725
    Oklahoma Educators Credit Union
    Similarity Rank: 994
    CWM PARTNERS, L.P.
    Similarity Rank: 1057
    TTCU Federal Credit Union
    Similarity Rank: 1340
    VALOR BANK
    Similarity Rank: 1463

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 30 $6,160,000 $205,333 $4,229 5.13%

    For 2022, Municipal Employees Credit Union Of Oklahoma City's most frequently originated type of loan was Conventional, with 30 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 14 $2,780,000 $198,571 $4,150 5.12%
    Cash Out Refi 13 $2,355,000 $181,154 $3,892 5.24%
    Refi 3 $1,025,000 $341,667 $6,058 4.75%

    For 2022, Municipal Employees Credit Union Of Oklahoma City's most frequently cited loan purpose was Home Purchase, with 14 originations. The 2nd most popular reason was Cash Out Refi, with 13 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 19 $4,935,000 $259,737 $4,918 5.01%
    20 Year 6 $720,000 $120,000 $3,092 5.02%
    15 Year 3 $345,000 $115,000 $3,154 6.17%
    10 Year 2 $160,000 $80,000 $2,702 5.06%

    For 2022, Municipal Employees Credit Union Of Oklahoma City's most frequently cited loan duration was 30 Year, with 19 originations. The 2nd most popular length was 20 Year, with 6 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $1k-2k 11 $1,625,000 $147,727
    $<1k 7 $555,000 $79,286
    $2k-3k 5 $1,255,000 $251,000
    $3k-4k 5 $1,635,000 $327,000
    $4k-5k 1 $495,000 $495,000
    $5k+ 1 $595,000 $595,000

    Municipal Employees Credit Union Of Oklahoma City's average total fees were $4,918, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 11 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    5-6% 10 $1,700,000 $170,000
    3-4% 6 $1,150,000 $191,667
    4-5% 6 $1,920,000 $320,000
    6-7% 6 $840,000 $140,000
    2.5-3% 1 $495,000 $495,000
    Over 8% 1 $55,000 $55,000

    During 2022, Municipal Employees Credit Union Of Oklahoma City's average interest rate for loans was 5.01%, while their most frequently originated rate bucket for loans was 5-6%, with 10 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100k-200k 11 $1,625,000 $147,727 $3,540 5.44%
    $200k-400k 10 $2,890,000 $289,000 $5,341 4.71%
    $100,000 or less 7 $555,000 $79,286 $2,583 5.70%
    $400k-600k 2 $1,090,000 $545,000 $8,224 3.56%

    2022 saw Municipal Employees Credit Union Of Oklahoma City place emphasis on $100k-200k loans with 11 originations, totaling $1,625,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 9 $1,925,000 $213,889 $4,394 5.31%
    $150k-250k 8 $2,370,000 $296,250 $5,494 4.33%
    $75k-100k 7 $1,265,000 $180,714 $3,707 5.04%
    $50k-75k 5 $545,000 $109,000 $3,053 5.35%
    $50k or less 1 $55,000 $55,000 $2,158 9.63%

    Municipal Employees Credit Union Of Oklahoma City lent most frequently to those with incomes in the $100k-150k range, with 9 originations. The second most popular income band? $150k-250k, with 8 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    <20% 7 $1,405,000 $200,714 $4,309 5.14%
    30-36% 5 $1,575,000 $315,000 $5,677 4.15%
    20-30% 5 $1,205,000 $241,000 $4,506 4.80%
    40% 3 $505,000 $168,333 $3,693 7.25%
    50-60% 2 $180,000 $90,000 $2,663 5.75%
    37% 2 $200,000 $100,000 $2,722 6.13%
    41% 2 $400,000 $200,000 $4,452 5.13%
    38% 1 $65,000 $65,000 $2,238 3.50%
    43% 1 $175,000 $175,000 $3,809 3.63%
    45% 1 $315,000 $315,000 $5,737 4.88%
    39% 1 $135,000 $135,000 $3,256 5.50%

    Municipal Employees Credit Union Of Oklahoma City lent most frequently to those with DTI ratios of <20%, with 7 originations. The next most common DTI ratio? 30-36%, with 5 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 25 $4,845,000 $193,800 $4,073 5.08%
    Not provided 2 $650,000 $325,000 $5,504 6.88%
    American Indian 2 $580,000 $290,000 $5,395 4.56%
    Black 1 $85,000 $85,000 $3,241 4.25%

    Approval Rates

    Total approvals of all applications
    90.24%

    Municipal Employees Credit Union Of Oklahoma City has an average approval rate.

    Pick Rate

    Approvals leading to origination
    40.00%

    Municipal Employees Credit Union Of Oklahoma City 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 30 $6,160,000 $205,333

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    30 $6,160,000 $205,333

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 2 $120,000 $60,000 $2,198 6.56%
    40-60% 3 $645,000 $215,000 $4,415 4.63%
    60-80% 9 $1,405,000 $156,111 $3,631 5.35%
    80-100% 15 $3,915,000 $261,000 $4,959 4.87%
    Under 20% 1 $75,000 $75,000 $2,162 5.88%