Oregon State Credit Union Mortgage Rates, Fees & Info

Corvallis, OR

LEI: 254900Z8J5L9POS71X51

Tax ID: 93-0444581

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Mortgage Data

Review & 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 by origination volume include: Corvallis, Salem, Albany, Portland, and Newport among others. We have data for 16 markets. (Some data included below & more in-depth data is available with an active subscription.)

Oregon State 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. Oregon State Credit Union is typically a low 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
Home Equity Line of Credit (HELOC) 6.27% 3/28/24
30 Year Conventional Purchase 6.59% 3/28/24
30 Year Conventional Refi 6.31% 3/28/24
30 Year Cash-out Refi 6.75% 3/28/24
15 Year Conventional Purchase 5.97% 3/28/24
15 Year Conventional Refi 6.29% 3/28/24
15 Year Cash-out Refi 6.29% 3/28/24
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

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
Show all (4) awards

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) 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.

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.

    CASTPARTS EMPLOYEES
    Similarity Rank: 660
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    Similarity Rank: 1010
    Bank of the Pacific
    Similarity Rank: 1218
    Pacific NW Federal Credit Union
    Similarity Rank: 1406
    SELCO COMMUNITY
    Similarity Rank: 1725
    CENTRAL WILLAMETTE Credit Union
    Similarity Rank: 1740
    Wauna Federal Credit Union
    Similarity Rank: 1908

    Product Mix

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

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

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. 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 2021, Oregon State Credit Union's most frequently cited loan purpose was Home Purchase, with 152 originations. The 2nd most popular reason was 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 2021, Oregon State Credit Union's most frequently cited loan duration was 30 Year, with 234 originations. The 2nd most popular length was 15 Year, with 82 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost 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 15 $4,215,000 $281,000
    $4k-5k 2 $720,000 $360,000

    Oregon State Credit Union's average total fees were $3,984, while their most frequently occuring range of origination fees (closing costs) 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 for loans was 3.38%, while their most frequently originated rate bucket for loans was 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 or Islander 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
    96.52%

    Oregon State 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 origination
    79.53%

    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%