Oregon State Credit Union Mortgage Rates, Fees & Info

Corvallis, OR

LEI: 254900Z8J5L9POS71X51

Tax ID: 93-0444581

5 stars - Updated: 10/29/24 - out of 5 stars, based on 25 reviews

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

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Mortgage Data

Review & Overview

Oregon State Credit Union is a smaller credit union specializing in Other, Home Improvement, and Home Purchase loans. Oregon State Credit Union has a high proportion of conventional loans. Their top markets by origination volume include: Corvallis, Salem, Albany, Newport, and Portland among others. We have data for 14 markets. (Some data included below & more in-depth data is available with an active subscription.)

Oregon State 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. Oregon State 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 relatively high 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
Home Equity Line of Credit (HELOC) 6.27% 10/29/24
30 Year Conventional Purchase 6.59% 10/29/24
30 Year Conventional Refi 6.31% 10/29/24
30 Year Cash-out Refi 6.75% 10/29/24
15 Year Conventional Purchase 5.97% 10/29/24
15 Year Conventional Refi 6.29% 10/29/24
15 Year Cash-out Refi 6.29% 10/29/24
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.

Oregon State Credit Union Mortgage Calculator






Your Estimates

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

This is not an official calculator from Oregon State Credit Union. 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

643

Origination Dollar Volume (All Markets)

$86,035,000

Awards

Oregon State Credit Union 30 Year Conventional Loans gold Oregon State Credit Union 30 Year Conventional Loans gold Oregon State Credit Union 30 Year Conventional Loans gold
Show all (3) awards

Relative Rate

Oregon State Credit Union's average 30 year fixed mortgage rate was 6.68%.

The 2023 average 30 year fixed rate mortgage across all markets and lenders was 6.48%.

This yields a difference of 0.2%.

Relative Fees (Closing Costs)

Oregon State Credit Union's average total fees/closing costs for a 30 year fixed rate mortgage were $6,455.

The average total origination fees for 30 year fixed rate mortgages across all lenders (for all loan values, including both points & up-front fees in addition to origination fees) were $9,089.

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
CORVALLIS, OR (FHA|USDA|VA) 180 $25,170,000 $139,833 $4,923 7.97%
SALEM, OR (FHA|USDA|VA) 180 $22,320,000 $124,000 $4,237 8.09%
ALBANY-LEBANON, OR (FHA|USDA|VA) 131 $17,635,000 $134,618 $4,169 8.00%
Newport, OR (FHA|USDA|VA) 59 $8,425,000 $142,797 $4,577 7.90%
PORTLAND-VANCOUVER-HILLSBORO, OR-WA (FHA|USDA|VA) 53 $8,215,000 $155,000 $6,282 7.97%
EUGENE-SPRINGFIELD, OR (FHA|USDA|VA) 12 $1,420,000 $118,333 $7,089 7.79%
Seattle-Tacoma-Bellevue, WA (FHA|USDA|VA) 5 $565,000 $113,000 $843 8.95%
MEDFORD, OR (FHA|USDA|VA) 5 $485,000 $97,000 $3,947 7.78%
Outside of Metro Areas 5 $425,000 $85,000 $2,938 7.83%
GRANTS PASS, OR (FHA|USDA|VA) 3 $405,000 $135,000 $6,402 7.58%
Astoria, OR (FHA|USDA|VA) 1 $345,000 $345,000 $6,901 6.75%
BEND, OR (FHA|USDA|VA) 3 $315,000 $105,000 $0 8.25%
Coos Bay, OR (FHA|USDA|VA) 4 $230,000 $57,500 $0 8.19%
Roseburg, OR (FHA|USDA|VA) 2 $80,000 $40,000 $0 8.38%
Oregon State Credit Union's top markets include Corvallis, Salem, Albany, Newport, and Portland among others.

Their top states include:
  • Oregon (FHA|USDA|VA)
  • Washington (FHA|USDA|VA)
  • Similar Lenders

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

    INROADS
    Similarity Rank: 238
    Clackamas Federal Credit Union
    Similarity Rank: 776
    COLUMBIA COMMUNITY CREDIT UNION
    Similarity Rank: 988
    FIBRE FEDERAL CREDIT UNION
    Similarity Rank: 1281
    ADVANTIS
    Similarity Rank: 1288
    Rivermark Community Credit Union
    Similarity Rank: 1914
    First Republic Bank
    Similarity Rank: 1957

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    HELOC 468 $44,470,000 $95,021 n/a 8.23%
    Conventional 175 $41,565,000 $237,514 $4,635 7.41%

    For 2023, Oregon State Credit Union's most frequently originated type of loan was HELOC, with 468 originations. Their 2nd most popular type was Conventional, with 175 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Other 274 $25,860,000 $94,380 $1,111 8.31%
    Home Improvement 247 $22,115,000 $89,534 $1,124 8.37%
    Home Purchase 92 $29,750,000 $323,370 $6,767 6.56%
    Cash Out Refi 22 $5,260,000 $239,091 $4,768 6.91%
    Refi 8 $3,050,000 $381,250 $4,056 6.00%

    For 2023, Oregon State Credit Union's most frequently cited loan purpose was Other, with 274 originations. The 2nd most popular reason was Home Improvement, with 247 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 470 $45,090,000 $95,936 $911 8.22%
    30 Year 91 $29,125,000 $320,055 $6,455 6.68%
    15 Year 45 $5,445,000 $121,000 $2,512 8.48%
    10 Year 33 $4,385,000 $132,879 $1,231 8.10%
    20 Year 3 $675,000 $225,000 $6,348 6.25%
    30+ year 1 $1,315,000 $1,315,000 $35,286 6.63%

    For 2023, Oregon State Credit Union's most frequently cited loan duration was Other, with 470 originations. The 2nd most popular length was 30 Year, with 91 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 74 $9,310,000 $125,811
    $3k-4k 26 $7,700,000 $296,154
    $2k-3k 24 $4,550,000 $189,583
    $4k-5k 22 $8,420,000 $382,727
    $1k-2k 12 $1,800,000 $150,000
    $5k+ 11 $6,875,000 $625,000

    Oregon State Credit Union's average total fees were $6,455, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 74 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    Over 8% 342 $30,550,000 $89,327
    7-8% 178 $21,880,000 $122,921
    6-7% 100 $25,720,000 $257,200
    5-6% 21 $7,405,000 $352,619
    4-5% 2 $480,000 $240,000

    During 2023, Oregon State Credit Union's average interest rate for loans was 6.68%, while their most frequently originated rate bucket for loans was Over 8%, with 342 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 348 $19,220,000 $55,230 $1,287 8.37%
    $100k-200k 155 $20,615,000 $133,000 $3,404 8.01%
    $200k-400k 117 $32,905,000 $281,239 $6,341 7.22%
    $400k-600k 15 $6,895,000 $459,667 $7,717 6.46%
    $600k-1MM 6 $3,960,000 $660,000 $10,568 6.71%
    $1MM+ 2 $2,440,000 $1,220,000 $35,286 5.89%

    2023 saw Oregon State Credit Union place emphasis on $100,000 or less loans with 348 originations, totaling $19,220,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 191 $24,255,000 $126,990 $4,167 8.14%
    $150k-250k 140 $18,770,000 $134,071 $3,692 8.25%
    $75k-100k 127 $16,405,000 $129,173 $5,563 7.92%
    $50k-75k 104 $10,550,000 $101,442 $3,797 7.94%
    $50k or less 37 $2,675,000 $72,297 $3,441 7.73%
    $250k+ 36 $10,260,000 $285,000 $11,364 7.60%

    Oregon State Credit Union lent most frequently to those with incomes in the $100k-150k range, with 191 originations. The second most popular income band? $150k-250k, with 140 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 131 $16,695,000 $127,443 $4,267 7.91%
    30-36% 115 $16,555,000 $143,957 $5,244 7.86%
    45% 54 $6,270,000 $116,111 $3,783 8.41%
    44% 53 $4,875,000 $91,981 $3,987 8.30%
    <20% 39 $5,605,000 $143,718 $5,716 7.77%
    43% 39 $5,375,000 $137,821 $3,867 8.27%
    42% 29 $3,855,000 $132,931 $3,890 8.13%
    39% 28 $3,540,000 $126,429 $3,754 8.17%
    40% 26 $3,360,000 $129,231 $5,135 7.86%
    41% 24 $2,880,000 $120,000 $4,291 8.06%
    38% 24 $2,500,000 $104,167 $5,535 8.25%
    36% 18 $1,730,000 $96,111 $1,833 8.19%
    37% 17 $2,665,000 $156,765 $6,566 7.89%
    46% 12 $1,750,000 $145,833 $4,148 8.16%
    47% 10 $1,660,000 $166,000 $6,092 7.79%
    50-60% 10 $1,710,000 $171,000 $5,061 7.66%
    49% 6 $1,630,000 $271,667 $7,608 7.60%
    48% 3 $765,000 $255,000 $4,895 7.00%

    Oregon State Credit Union lent most frequently to those with DTI ratios of 20-30%, with 131 originations. The next most common DTI ratio? 30-36%, with 115 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 473 $60,635,000 $128,192 $4,543 8.07%
    Not provided 128 $18,220,000 $142,344 $4,807 7.87%
    Not applicable 5 $2,615,000 $523,000 $0 5.64%
    American Indian 18 $1,800,000 $100,000 $3,392 8.11%
    Asian 6 $930,000 $155,000 $6,005 7.35%
    Black 6 $710,000 $118,333 $6,681 8.00%
    Other Asian 1 $645,000 $645,000 $11,896 6.75%
    Japanese 2 $200,000 $100,000 $1,590 8.63%
    Chinese 1 $95,000 $95,000 $0 7.75%
    Native Hawaiian or Islander 1 $85,000 $85,000 $0 9.50%
    Guamanian 1 $65,000 $65,000 $0 8.50%
    Filipino 1 $35,000 $35,000 $0 8.00%

    Approval Rates

    Total approvals of all applications
    87.58%

    Oregon State Credit Union has an average approval rate.

    Pick Rate

    Approvals leading to origination
    78.54%

    Oregon State Credit Union has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 643 $86,035,000 $133,802

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    643 $86,035,000 $133,802

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 157 $23,545,000 $149,968 $3,768 8.05%
    40-60% 45 $12,195,000 $271,000 $5,581 7.18%
    60-80% 46 $16,170,000 $351,522 $7,291 6.73%
    80-100% 36 $11,860,000 $329,444 $6,732 6.58%
    Under 20% 359 $22,265,000 $62,019 $1,209 8.40%