Sea West Coast Guard Federal Credit Union Mortgage Rates, Fees & Info

Oakland, CA

LEI: 5493001P38O8QXGI6503

Tax ID: 94-1480396

2.2 stars - out of 5 stars, based on 15 reviews

2021 Data | 2020 Data | 2019 Data | 2018 Data


Overview

Sea West Coast Guard Federal Credit Union is a smaller credit union specializing in Refi and Cash Out Refi loans. Sea West Coast Guard Federal Credit Union has a high proportion of conventional loans. Their top markets include San Francisco, Santa Cruz, Los Angeles, San Jose, and Sacramento among others. Sea West Coast Guard Federal Credit Union has an average approval rate for mortages when compared nationally. They have a below average pick rate when compared to the same sample of other lendors. Sea West Coast Guard Federal Credit Union is typically a high fee lendor.


Originations

217

Origination Dollar Volume (All Markets)

$128,655,000

Awards

SEA WEST COAST GUARD FEDERAL CREDIT UNION 30 Year Conventional Loans gold SEA WEST COAST GUARD FEDERAL CREDIT UNION 30 Year Conventional Loans gold SEA WEST COAST GUARD FEDERAL CREDIT UNION 30 Year Conventional Loans gold
Show all (3) awards

Relative Rate

Sea West Coast Guard Federal Credit Union's average 30 year fixed rate mortgage of loans were 2.71%.

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

This yields a difference of -0.44%.

Relative Fees

Sea West Coast Guard Federal Credit Union's average total fees for a 30 year fixed rate mortgage are $8,944.

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
San Francisco-Oakland-Berkeley, CA (FHA|USDA|VA) 120 $77,270,000 $643,917 $8,108 2.67%
SANTA CRUZ-WATSONVILLE, CA (FHA|USDA|VA) 19 $16,675,000 $877,632 $16,212 2.84%
Los Angeles-Long Beach-Anaheim, CA (FHA|USDA|VA) 10 $6,850,000 $685,000 $8,585 2.84%
SAN JOSE-SUNNYVALE-SANTA CLARA, CA (FHA|USDA|VA) 11 $6,715,000 $610,455 $8,322 2.82%
SACRAMENTO-ROSEVILLE-FOLSOM, CA (FHA|USDA|VA) 9 $4,165,000 $462,778 $4,726 2.88%
SALINAS, CA (FHA|USDA|VA) 3 $2,125,000 $708,333 $8,830 3.49%
VALLEJO, CA (FHA|USDA|VA) 5 $1,965,000 $393,000 $6,335 2.80%
Seattle-Tacoma-Bellevue, WA (FHA|USDA|VA) 5 $1,845,000 $369,000 $3,694 2.62%
SANTA ROSA-PETALUMA, CA (FHA|USDA|VA) 4 $1,520,000 $380,000 $2,971 3.22%
SANTA MARIA-SANTA BARBARA, CA (FHA|USDA|VA) 2 $1,300,000 $650,000 $9,926 2.87%
NAPA, CA (FHA|USDA|VA) 2 $1,160,000 $580,000 $9,443 2.50%
OXNARD-THOUSAND OAKS-VENTURA, CA (FHA|USDA|VA) 1 $1,105,000 $1,105,000 $18,336 2.74%
SAN DIEGO-CHULA VISTA-CARLSBAD, CA (FHA|USDA|VA) 3 $875,000 $291,667 $2,879 3.39%
STOCKTON, CA (FHA|USDA|VA) 5 $845,000 $169,000 $2,580 3.60%
Outside of Metro Areas 3 $655,000 $218,333 $2,820 2.78%
Sonora, CA (FHA|USDA|VA) 2 $630,000 $315,000 $2,583 2.28%
North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) 1 $525,000 $525,000 $0 2.75%
LAS VEGAS-HENDERSON-PARADISE, NV (FHA|USDA|VA) 1 $325,000 $325,000 $0 2.25%
MEDFORD, OR (FHA|USDA|VA) 1 $315,000 $315,000 $0 2.38%
CARSON CITY, NV (FHA|USDA|VA) 1 $295,000 $295,000 $3,704 2.74%
PORTLAND-VANCOUVER-HILLSBORO, OR-WA (FHA|USDA|VA) 1 $235,000 $235,000 $0 2.49%
ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) 1 $205,000 $205,000 $0 3.00%
CHICO, CA (FHA|USDA|VA) 1 $185,000 $185,000 $0 2.50%
PHOENIX-MESA-CHANDLER, AZ (FHA|USDA|VA) 1 $185,000 $185,000 $2,519 2.99%
RIVERSIDE-SAN BERNARDINO-ONTARIO, CA (FHA|USDA|VA) 1 $175,000 $175,000 $2,583 2.94%
CINCINNATI, OH-KY-IN (FHA|USDA|VA) 1 $175,000 $175,000 $0 3.50%
GRANTS PASS, OR (FHA|USDA|VA) 1 $165,000 $165,000 $3,471 2.49%
BARNSTABLE TOWN, MA (FHA|USDA|VA) 1 $125,000 $125,000 $0 2.63%
SAN LUIS OBISPO-PASO ROBLES, CA (FHA|USDA|VA) 1 $45,000 $45,000 $0 4.50%

Sea West Coast Guard Federal Credit Union's top markets include San Francisco, Santa Cruz, Los Angeles, San Jose, and Sacramento among others.

Product Mix

Loan Type Originations Total Value Average Loan Average Fees Average Rate
Conventional 215 $127,815,000 $594,488 $8,292 2.78%
VA 2 $840,000 $420,000 $0 2.56%

For the 2021 period, Sea West Coast Guard Federal Credit Union's most frequently originated loan type of loans were Conventional, with 215 originations. Their 2nd most popular type is VA, with 2 originations.

Loan Reason

Loan Reason Originations Total Value Average Loan Average Fees Average Rate
Refi 130 $87,870,000 $675,923 $8,631 2.57%
Cash Out Refi 61 $30,665,000 $502,705 $6,765 3.03%
Home Purchase 15 $8,485,000 $565,667 $11,261 2.79%
Other 11 $1,635,000 $148,636 $0 3.82%

For the 2021, Sea West Coast Guard Federal Credit Union's most frequently cited loan purpose of loans were Refi, with 130 originations. The 2nd most popular reason of loans were Cash Out Refi, with 61 originations.

Loan Duration/Length

Loan Length Originations Total Value Average Loan Average Fees Average Rate
30 Year 158 $107,460,000 $680,127 $8,944 2.71%
15 Year 33 $13,365,000 $405,000 $6,074 2.58%
Other 18 $4,400,000 $244,444 $2,808 3.76%
20 Year 8 $3,430,000 $428,750 $4,739 2.71%

For the 2021, Sea West Coast Guard Federal Credit Union's most frequently cited loan length of loans were 30 Year, with 158 originations. The 2nd most popular length of loans were 15 Year, with 33 originations.

Origination Fees

Origination Fee Originations Total Value Average Loan
$<1k 77 $34,125,000 $443,182
$5k+ 68 $63,530,000 $934,265
$2k-3k 18 $10,000,000 $555,556
$1k-2k 9 $2,405,000 $267,222
$3k-4k 8 $7,860,000 $982,500

$8,944 of loans were Sea West Coast Guard Federal Credit Union's average total fees, while their most frequently occuring range of origination fees were in the $<1k bucket, with 77 originations.

Interest Rates

Loan Rate Originations Total Value Average Loan
2.5-3% 113 $76,595,000 $677,832
<2.5% 69 $42,905,000 $621,812
3-4% 26 $7,940,000 $305,385
4-5% 9 $1,215,000 $135,000

During 2021, Sea West Coast Guard Federal Credit Union's average interest rate of loans were 2.71%, while their most frequently originated rate bucket of loans were 2.5-3%, with 113 originations.

Loan Sizing

Loan Size Originations Total Value Average Loan Average Fees Average Rate
$600k-1MM 65 $51,885,000 $798,231 $10,208 2.67%
$200k-400k 49 $13,765,000 $280,918 $3,005 2.81%
$1MM+ 35 $41,725,000 $1,192,143 $16,058 2.61%
$400k-600k 34 $16,660,000 $490,000 $4,722 2.66%
$100k-200k 26 $4,130,000 $158,846 $2,885 2.93%
$100,000 or less 8 $490,000 $61,250 $2,400 4.15%

2021 saw Sea West Coast Guard Federal Credit Union place emphasis on $600k-1MM loans with 65 originations, totaling $51,885,000 in origination value.

Applicant Income

Applicant Income Originations Total Value Average Loan Average Fees Average Rate
$250k+ 80 $67,640,000 $845,500 $12,400 2.77%
$150k-250k 66 $35,040,000 $530,909 $6,239 2.84%
$100k-150k 47 $21,295,000 $453,085 $6,273 2.68%
$50k-75k 10 $1,840,000 $184,000 $2,659 3.01%
$75k-100k 9 $2,025,000 $225,000 $2,709 2.71%
$50k or less 5 $815,000 $163,000 $2,763 2.57%

Sea West Coast Guard Federal Credit Union lent most frequently to those with incomes in the $250k+ range, with 80 originations. The second most popular income band? $150k-250k, with 66 originations.

Applicant Debt to Income Ratio

DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
20-30% 55 $34,675,000 $630,455 $7,847 2.82%
30-36% 48 $31,100,000 $647,917 $8,876 2.74%
<20% 38 $18,550,000 $488,158 $6,790 2.62%
37% 13 $6,695,000 $515,000 $5,695 2.67%
38% 11 $7,095,000 $645,000 $7,685 2.94%
40% 9 $4,065,000 $451,667 $6,962 2.91%
41% 9 $4,335,000 $481,667 $8,875 3.03%
36% 8 $5,090,000 $636,250 $12,267 2.72%
42% 7 $5,095,000 $727,857 $4,894 2.70%
39% 6 $4,900,000 $816,667 $13,584 2.76%
47% 3 $1,185,000 $395,000 $5,629 3.18%
46% 2 $1,460,000 $730,000 $24,526 2.84%
44% 2 $1,400,000 $700,000 $15,732 2.59%
49% 2 $990,000 $495,000 $17,325 3.46%
43% 1 $525,000 $525,000 $2,833 1.99%
>60% 1 $185,000 $185,000 $0 2.50%
50-60% 1 $105,000 $105,000 $0 3.25%
45% 1 $1,205,000 $1,205,000 $16,648 2.99%

Sea West Coast Guard Federal Credit Union lent most frequently to those with DTI ratios of 20-30%, with 55 originations. The next most common DTI ratio? 30-36%, with 48 originations.

Ethnicity Mix

Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
Not provided 97 $57,505,000 $592,835 $8,883 2.81%
White 89 $53,955,000 $606,236 $8,373 2.76%
Asian 19 $11,845,000 $623,421 $6,671 2.72%
Black 6 $1,760,000 $293,333 $3,193 2.60%
American Indian 2 $1,350,000 $675,000 $3,123 2.81%
Asian Indian 1 $1,005,000 $1,005,000 $17,585 2.49%
Filipino 2 $680,000 $340,000 $3,310 2.93%
Native Hawaiian 1 $555,000 $555,000 $4,305 2.68%

Approval Rates

Total approvals of all applications
88.61%

Sea West Coast Guard Federal Credit Union has an average approval rate.

Pick Rate

Approvals leading to origination
65.17%

Sea West Coast Guard Federal Credit Union 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
7950.0 1 $405,000 $405,000
NA 216 $128,250,000 $593,750

Occupancy Type Mix

Dwelling Type Originations Total Value Average Loan
217 $128,655,000 $592,880

LTV Distribution

Loan to Value Originations Total Value Average Loan Average Fees Average Rate
20-40% 56 $26,900,000 $480,357 $5,935 2.63%
40-60% 70 $54,000,000 $771,429 $8,944 2.68%
60-80% 52 $38,620,000 $742,692 $11,347 2.68%
80-100% 3 $885,000 $295,000 $0 2.92%
Under 20% 36 $8,250,000 $229,167 $4,757 3.31%