Nikkei Credit Union Mortgage Rates, Fees & Info
Gardena, CALEI: 5493004IRV3T6D4NNV33
Tax ID: 95-2021710
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Mortgage Data
Review & Overview
Nikkei Credit Union is a smaller credit union specializing in Refi and Home Improvement loans. Nikkei Credit Union has an average proportion of conventional loans. Their top markets by origination volume include: Los Angeles, Riverside, and Bakersfield among others. We have data for 3 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. 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.
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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| Home Equity Line of Credit (HELOC) | 7.27% | 11/22/24 |
| 30 Year Conventional Purchase | 7.27% | 11/22/24 |
| 30 Year Conventional Refi | 7.27% | 11/22/24 |
| 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. | ||
Nikkei Credit Union Mortgage Calculator
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
36Origination Dollar Volume (All Markets)
$6,440,000Top 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) | 32 | $5,990,000 | $187,188 | $0 | 4.26% |
| RIVERSIDE-SAN BERNARDINO-ONTARIO, CA (FHA|USDA|VA) | 3 | $355,000 | $118,333 | $0 | 4.75% |
| BAKERSFIELD, CA (FHA|USDA|VA) | 1 | $95,000 | $95,000 | $0 | 3.50% |
Their top states include:
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| HELOC | 34 | $5,310,000 | $156,176 | n/a | 4.29% |
| Conventional | 2 | $1,130,000 | $565,000 | $0 | 4.00% |
For 2019, Nikkei Credit Union's most frequently originated type of loan was HELOC, with 34 originations. Their 2nd most popular type was Conventional, with 2 originations.
Loan Reason
For 2019, Nikkei Credit Union's most frequently cited loan purpose was Refi, with 20 originations. The 2nd most popular reason was Home Improvement, with 11 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| 20 Year | 32 | $5,020,000 | $156,875 | $0 | 4.27% |
| 30 Year | 2 | $1,130,000 | $565,000 | $0 | 4.00% |
| Other | 2 | $290,000 | $145,000 | $0 | 4.63% |
For 2019, Nikkei Credit Union's most frequently cited loan duration was 20 Year, with 32 originations. The 2nd most popular length was 30 Year, with 2 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 4-5% | 16 | $2,810,000 | $175,625 |
| 3-4% | 13 | $2,645,000 | $203,462 |
| 5-6% | 5 | $605,000 | $121,000 |
| 2.5-3% | 2 | $380,000 | $190,000 |
During 2019, Nikkei Credit Union's average interest rate for loans was 4.00%, while their most frequently originated rate bucket for loans was 4-5%, with 16 originations.
Loan Sizing
2019 saw Nikkei Credit Union place emphasis on $100,000 or less loans with 14 originations, totaling $930,000 in origination value.
Applicant Income
Nikkei Credit Union lent most frequently to those with incomes in the $150k-250k range, with 9 originations. The second most popular income band? $100k-150k, with 8 originations.
Applicant Debt to Income Ratio
Nikkei Credit Union lent most frequently to those with DTI ratios of <20%, with 12 originations. The next most common DTI ratio? 20-30%, with 4 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 | 36 | $6,440,000 | $178,889 |