Oregon State Credit Union Mortgage Rates, Fees & Info

Corvallis, OR

LEI: 254900Z8J5L9POS71X51

Tax ID: 93-0444581

5 stars - out of 5 stars, based on 20 reviews

2021 Data | 2020 Data | 2019 Data | 2018 Data


Overview

Oregon State Credit Union is a smaller credit union specializing in Home Purchase and Cash Out Refi loans. Oregon State Credit Union has a high proportion of conventional loans. Their top markets include Corvallis, Salem, Albany, Portland, and Newport among others. Oregon State Credit Union has an above average approval rate for mortages when compared nationally. They have a below average pick rate when compared to the same sample of other lendors. Oregon State Credit Union is typically an average fee lendor.


Originations

386

Origination Dollar Volume (All Markets)

$116,380,000

Awards

Oregon State Credit Union 30 Year Conventional Loans gold Oregon State Credit Union 30 Year Conventional Loans silver Oregon State Credit Union 30 Year Conventional Loans gold Oregon State Credit Union 30 Year Conventional Loans silver
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Relative Rate

Oregon State Credit Union's average 30 year fixed rate mortgage of loans were 3.38%.

The 2021 average 30 year fixed rate mortgage across all markets of loans were 3.15%.

This yields a difference of 0.23%.

Relative Fees

Oregon State Credit Union's average total fees for a 30 year fixed rate mortgage are $3,984.

The average total origination fees for 30 year fixed rate mortgages (for all loan values, including both points & up-front fees in addition to origination fees) are $4,750.

Top Markets

Market Originations Total Value Average Loan Average Fees Average Rate
CORVALLIS, OR (FHA|USDA|VA) 121 $33,565,000 $277,397 $3,897 3.37%
SALEM, OR (FHA|USDA|VA) 102 $28,380,000 $278,235 $3,776 3.48%
ALBANY-LEBANON, OR (FHA|USDA|VA) 89 $22,165,000 $249,045 $4,045 3.44%
PORTLAND-VANCOUVER-HILLSBORO, OR-WA (FHA|USDA|VA) 25 $19,765,000 $790,600 $4,782 3.29%
Newport, OR (FHA|USDA|VA) 28 $6,840,000 $244,286 $4,240 3.39%
BEND, OR (FHA|USDA|VA) 3 $1,365,000 $455,000 $10,242 4.04%
Outside of Metro Areas 3 $705,000 $235,000 $3,509 3.38%
EUGENE-SPRINGFIELD, OR (FHA|USDA|VA) 3 $685,000 $228,333 $4,171 4.13%
The Dalles, OR (FHA|USDA|VA) 2 $530,000 $265,000 $3,351 2.50%
LONGVIEW, WA (FHA|USDA|VA) 1 $505,000 $505,000 $3,012 3.50%
Astoria, OR (FHA|USDA|VA) 1 $465,000 $465,000 $0 3.49%
Coos Bay, OR (FHA|USDA|VA) 3 $435,000 $145,000 $3,008 4.13%
MEDFORD, OR (FHA|USDA|VA) 2 $420,000 $210,000 $0 4.18%
Klamath Falls, OR (FHA|USDA|VA) 1 $205,000 $205,000 $3,020 3.13%
Prineville, OR (FHA|USDA|VA) 1 $195,000 $195,000 $3,260 2.88%
Hood River, OR (FHA|USDA|VA) 1 $155,000 $155,000 $3,213 3.50%

Oregon State Credit Union's top markets include Corvallis, Salem, Albany, Portland, and Newport among others.

Product Mix

Loan Type Originations Total Value Average Loan Average Fees Average Rate
Conventional 386 $116,380,000 $301,503 $4,008 3.43%

For the 2021 period, Oregon State Credit Union's most frequently originated loan type of loans were Conventional, with 386 originations.

Loan Reason

Loan Reason Originations Total Value Average Loan Average Fees Average Rate
Home Purchase 152 $57,680,000 $379,474 $5,268 3.19%
Cash Out Refi 130 $36,400,000 $280,000 $3,486 3.52%
Refi 77 $19,775,000 $256,818 $3,185 3.27%
Other 14 $710,000 $50,714 $956 5.54%
Home Improvement 13 $1,815,000 $139,615 $2,989 3.88%

For the 2021, Oregon State Credit Union's most frequently cited loan purpose of loans were Home Purchase, with 152 originations. The 2nd most popular reason of loans were Cash Out Refi, with 130 originations.

Loan Duration/Length

Loan Length Originations Total Value Average Loan Average Fees Average Rate
30 Year 234 $69,790,000 $298,248 $3,984 3.38%
15 Year 82 $14,380,000 $175,366 $3,026 3.24%
20 Year 32 $6,310,000 $197,188 $3,897 3.30%
Other 17 $20,295,000 $1,193,824 $0 3.93%
10 Year 12 $800,000 $66,667 $1,069 5.19%
30+ year 9 $4,805,000 $533,889 $17,868 3.46%

For the 2021, Oregon State Credit Union's most frequently cited loan length of loans were 30 Year, with 234 originations. The 2nd most popular length of loans were 15 Year, with 82 originations.

Origination Fees

Origination Fee Originations Total Value Average Loan
$<1k 268 $69,710,000 $260,112
$1k-2k 41 $7,985,000 $194,756
$2k-3k 25 $4,975,000 $199,000
$5k+ 18 $8,480,000 $471,111
$3k-4k 17 $4,935,000 $290,294

$3,984 of loans were Oregon State Credit Union's average total fees, while their most frequently occuring range of origination fees were in the $<1k bucket, with 268 originations.

Interest Rates

Loan Rate Originations Total Value Average Loan
3-4% 267 $90,855,000 $340,281
2.5-3% 79 $19,105,000 $241,835
5-6% 19 $915,000 $48,158
4-5% 12 $3,330,000 $277,500
<2.5% 9 $2,175,000 $241,667

During 2021, Oregon State Credit Union's average interest rate of loans were 3.38%, while their most frequently originated rate bucket of loans were 3-4%, with 267 originations.

Loan Sizing

Loan Size Originations Total Value Average Loan Average Fees Average Rate
$200k-400k 194 $56,000,000 $288,660 $3,986 3.33%
$100k-200k 98 $15,130,000 $154,388 $3,066 3.28%
$400k-600k 44 $20,810,000 $472,955 $7,188 3.40%
$100,000 or less 35 $2,215,000 $63,286 $2,010 4.34%
$600k-1MM 8 $5,740,000 $717,500 $9,172 3.36%
$1MM+ 7 $16,485,000 $2,355,000 $0 3.75%

2021 saw Oregon State Credit Union place emphasis on $200k-400k loans with 194 originations, totaling $56,000,000 in origination value.

Applicant Income

Applicant Income Originations Total Value Average Loan Average Fees Average Rate
$50k-75k 99 $22,045,000 $222,677 $3,583 3.31%
$100k-150k 94 $26,880,000 $285,957 $4,551 3.44%
$75k-100k 66 $16,120,000 $244,242 $3,710 3.43%
$150k-250k 55 $18,605,000 $338,273 $4,907 3.57%
$50k or less 41 $6,445,000 $157,195 $2,991 3.33%
$250k+ 16 $6,920,000 $432,500 $4,200 3.39%

Oregon State Credit Union lent most frequently to those with incomes in the $50k-75k range, with 99 originations. The second most popular income band? $100k-150k, with 94 originations.

Applicant Debt to Income Ratio

DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
20-30% 103 $24,065,000 $233,641 $3,955 3.43%
30-36% 77 $21,695,000 $281,753 $4,266 3.37%
<20% 48 $11,830,000 $246,458 $3,575 3.30%
37% 19 $4,995,000 $262,895 $4,530 3.28%
43% 17 $4,775,000 $280,882 $4,932 3.48%
44% 14 $4,560,000 $325,714 $4,327 3.35%
40% 13 $3,725,000 $286,538 $3,970 3.42%
42% 11 $2,295,000 $208,636 $2,717 3.82%
38% 11 $2,975,000 $270,455 $3,857 3.61%
41% 10 $2,440,000 $244,000 $3,815 3.59%
39% 10 $2,380,000 $238,000 $4,805 3.33%
36% 10 $3,070,000 $307,000 $3,764 3.48%
45% 9 $2,575,000 $286,111 $3,429 3.54%
50-60% 8 $2,390,000 $298,750 $3,583 3.09%
47% 3 $585,000 $195,000 $3,566 3.25%
48% 2 $700,000 $350,000 $3,876 3.38%
49% 2 $690,000 $345,000 $4,095 3.25%
46% 2 $340,000 $170,000 $3,458 3.44%
>60% 1 $425,000 $425,000 $0 4.00%

Oregon State Credit Union lent most frequently to those with DTI ratios of 20-30%, with 103 originations. The next most common DTI ratio? 30-36%, with 77 originations.

Ethnicity Mix

Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
White 302 $80,530,000 $266,656 $4,059 3.43%
Not applicable 13 $17,515,000 $1,347,308 $0 3.90%
Not provided 58 $15,030,000 $259,138 $3,648 3.41%
Asian 3 $1,065,000 $355,000 $5,896 3.00%
Native Hawaiian 3 $825,000 $275,000 $3,791 3.21%
Black 2 $580,000 $290,000 $5,565 2.69%
American Indian 2 $480,000 $240,000 $3,641 3.25%
Other Asian 2 $250,000 $125,000 $3,275 2.88%
Chinese 1 $105,000 $105,000 $3,310 3.13%

Approval Rates

Total approvals of all applications
93.98%

Oregon State Credit Union has an average approval rate.

Pick Rate

Approvals leading to origination
76.78%

Oregon State Credit Union has a below average pick rate.

Points and Fees

Points Originations Total Value Average Loan
NA 386 $116,380,000 $301,503

Occupancy Type Mix

Dwelling Type Originations Total Value Average Loan
386 $116,380,000 $301,503

LTV Distribution

Loan to Value Originations Total Value Average Loan Average Fees Average Rate
20-40% 48 $6,500,000 $135,417 $3,099 3.16%
40-60% 102 $24,030,000 $235,588 $3,637 3.31%
60-80% 100 $31,400,000 $314,000 $4,900 3.44%
80-100% 96 $32,920,000 $342,917 $4,598 3.18%
Under 20% 23 $1,235,000 $53,696 $1,201 5.11%