Oregon State Credit Union Mortgage Rates, Fees & Info
Corvallis, ORLEI: 254900Z8J5L9POS71X51
Tax ID: 93-0444581
2021 Data | 2020 Data | 2019 Data | 2018 Data
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Mortgage 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
386Origination Dollar Volume (All Markets)
$116,380,000Awards
Oregon State Credit Union - 2021
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For 2021, less than of lenders were eligible for this award.
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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 applications93.98%
Oregon State Credit Union has an average approval rate.
Pick Rate
Approvals leading to origination76.78%
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% |
