Nikkei Credit Union Mortgage Rates, Fees & Info
Gardena, CALEI: 5493004IRV3T6D4NNV33
Tax ID: 95-2021710
Latest/2024 | 2023 Data | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data
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Mortgage Data
Review & Overview
Nikkei Credit Union is a smaller credit union specializing in Other, Home Improvement, and Cash Out Refi loans. Their top markets by origination volume include: Los Angeles, Oxnard, Riverside, and San Diego among others. We have data for 4 markets. (Some data included below & more in-depth data is available with an active subscription.)Nikkei Credit Union has an above average approval rate when compared to the average across all lenders.
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Originations
20Origination Dollar Volume (All Markets)
$4,020,000Top 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 |
|---|---|---|---|---|---|
| Los Angeles-Long Beach-Anaheim, CA (FHA|USDA|VA) | 14 | $2,870,000 | $205,000 | $0 | 7.70% |
| OXNARD-THOUSAND OAKS-VENTURA, CA (FHA|USDA|VA) | 1 | $525,000 | $525,000 | $0 | 0.00% |
| RIVERSIDE-SAN BERNARDINO-ONTARIO, CA (FHA|USDA|VA) | 4 | $500,000 | $125,000 | $0 | 8.20% |
| SAN DIEGO-CHULA VISTA-CARLSBAD, CA (FHA|USDA|VA) | 1 | $125,000 | $125,000 | $0 | 7.20% |
Their top states include:
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| HELOC | 20 | $4,020,000 | $201,000 | n/a | 7.73% |
For 2024, Nikkei Credit Union's most frequently originated type of loan was HELOC, with 20 originations.
Loan Reason
| Loan Reason | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Other | 9 | $1,005,000 | $111,667 | $0 | 7.81% |
| Home Improvement | 8 | $1,780,000 | $222,500 | $0 | 7.58% |
| Cash Out Refi | 3 | $1,235,000 | $411,667 | $0 | 8.08% |
For 2024, Nikkei Credit Union's most frequently cited loan purpose was Other, with 9 originations. The 2nd most popular reason was Home Improvement, with 8 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Other | 20 | $4,020,000 | $201,000 | $0 | 7.73% |
For 2024, Nikkei Credit Union's most frequently cited loan duration was Other, with 20 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 7-8% | 8 | $1,270,000 | $158,750 |
| Over 8% | 7 | $1,675,000 | $239,286 |
| 6-7% | 2 | $360,000 | $180,000 |
During 2024, Nikkei Credit Union's average interest rate for loans was 0.00%, while their most frequently originated rate bucket for loans was 7-8%, with 8 originations.
Loan Sizing
2024 saw Nikkei Credit Union place emphasis on $100k-200k loans with 6 originations, totaling $700,000 in origination value.
Applicant Income
Nikkei Credit Union lent most frequently to those with incomes in the $150k-250k range, with 8 originations. The second most popular income band? $100k-150k, with 6 originations.
Applicant Debt to Income Ratio
Nikkei Credit Union lent most frequently to those with DTI ratios of 50-60%, with 3 originations. The next most common DTI ratio? 49%, with 3 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications100.00%
Nikkei 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 originationPoints and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 20 | $4,020,000 | $201,000 |