Us Employees O.c. Federal Credit Union Mortgage Rates, Fees & Info

Oklahoma City, OK

LEI: 549300552HVITY0L9184

Tax ID: 73-0580255

2.6 stars - Updated: 3/28/24 - out of 5 stars, based on 8 reviews

Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data

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Mortgage Data

Review & Overview

Us Employees O.c. Federal Credit Union is a smaller credit union specializing in Refi, Cash Out Refi, and Home Purchase loans. Us Employees O.c. Federal Credit Union has a high proportion of conventional loans. Their top (well, only) market is Oklahoma City.

Us Employees O.c. Federal Credit Union has a below average approval rate when compared to the average across all lenders. They have a below average pick rate when compared to similar lenders. Us Employees O.c. Federal Credit Union is typically a high 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 relatively high 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
30 Year Conventional Purchase 6.27% 3/28/24
30 Year Cash-out Refi 6.27% 3/28/24
30 Year FHA Purchase 6.27% 3/28/24
30 Year FHA Refi 6.27% 3/28/24
15 Year Conventional Purchase 5.68% 3/28/24
15 Year Conventional Refi 5.68% 3/28/24
15 Year Cash-out Refi 5.68% 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.

Us Employees O.c. Federal Credit Union Mortgage Calculator






Your Estimates

Estimated Loan Payment: Update the calculator values and click calculate payment!

This is not an official calculator from Us Employees O.c. Federal 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

58

Origination Dollar Volume (All Markets)

$4,700,000

Relative Rate

Us Employees O.c. Federal Credit Union's average 30 year fixed mortgage rate was 7.4%.

The 2023 average 30 year fixed rate mortgage across all markets and lenders was 6.48%.

This yields a difference of 0.92%.

Relative Fees (Closing Costs)

Us Employees O.c. Federal Credit Union's average total fees/closing costs for a 30 year fixed rate mortgage were $8,698.

The average total origination fees for 30 year fixed rate mortgages across all lenders (for all loan values, including both points & up-front fees in addition to origination fees) were $9,089.

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
OKLAHOMA CITY, OK (FHA|USDA|VA) 58 $4,700,000 $81,034 $3,015 7.76%
Us Employees O.c. Federal Credit Union's top markets include and Oklahoma City among others.

Their top states include:
  • Oklahoma (FHA|USDA|VA)
  • Similar Lenders

    We use machine learning to identify the top lenders compared against US Employees O.C. Federal Credit Union based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.

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    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 29 $2,705,000 $93,276 $2,695 7.41%
    HELOC 28 $1,470,000 $52,500 n/a 8.20%
    VA 1 $525,000 $525,000 $11,973 5.75%

    For 2023, Us Employees O.c. Federal Credit Union's most frequently originated type of loan was Conventional, with 29 originations. Their 2nd most popular type was HELOC, with 28 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Refi 25 $1,325,000 $53,000 $1,956 8.00%
    Cash Out Refi 16 $1,100,000 $68,750 $1,091 7.27%
    Home Purchase 12 $2,020,000 $168,333 $5,597 7.60%
    Other 5 $255,000 $51,000 $0 8.55%

    For 2023, Us Employees O.c. Federal Credit Union's most frequently cited loan purpose was Refi, with 25 originations. The 2nd most popular reason was Cash Out Refi, with 16 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 33 $1,665,000 $50,455 $720 7.94%
    20 Year 11 $1,115,000 $101,364 $1,886 7.86%
    15 Year 7 $275,000 $39,286 $2,873 7.39%
    30 Year 5 $1,555,000 $311,000 $8,698 7.40%
    10 Year 2 $90,000 $45,000 $693 6.50%

    For 2023, Us Employees O.c. Federal Credit Union's most frequently cited loan duration was Other, with 33 originations. The 2nd most popular length was 20 Year, with 11 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 22 $1,290,000 $58,636
    $5k+ 3 $1,075,000 $358,333
    $1k-2k 2 $300,000 $150,000
    $3k-4k 1 $355,000 $355,000
    $4k-5k 1 $125,000 $125,000

    Us Employees O.c. Federal Credit Union's average total fees were $8,698, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 22 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    Over 8% 29 $2,045,000 $70,517
    6-7% 15 $935,000 $62,333
    7-8% 10 $1,070,000 $107,000
    5-6% 3 $605,000 $201,667

    During 2023, Us Employees O.c. Federal Credit Union's average interest rate for loans was 7.40%, while their most frequently originated rate bucket for loans was Over 8%, with 29 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 45 $2,065,000 $45,889 $1,585 7.75%
    $100k-200k 8 $950,000 $118,750 $4,264 7.66%
    $200k-400k 4 $1,160,000 $290,000 $6,676 8.50%
    $400k-600k 1 $525,000 $525,000 $11,973 5.75%

    2023 saw Us Employees O.c. Federal Credit Union place emphasis on $100,000 or less loans with 45 originations, totaling $2,065,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k or less 19 $1,045,000 $55,000 $1,884 7.49%
    $50k-75k 10 $520,000 $52,000 $3,735 7.92%
    $100k-150k 9 $1,195,000 $132,778 $5,193 7.60%
    $75k-100k 9 $655,000 $72,778 $2,774 8.25%
    $150k-250k 6 $540,000 $90,000 $1,159 8.00%
    $250k+ 5 $745,000 $149,000 $6,067 7.63%

    Us Employees O.c. Federal Credit Union lent most frequently to those with incomes in the $50k or less range, with 19 originations. The second most popular income band? $50k-75k, with 10 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 17 $1,495,000 $87,941 $2,035 7.43%
    30-36% 13 $635,000 $48,846 $1,322 7.83%
    <20% 8 $520,000 $65,000 $1,934 7.69%
    36% 6 $920,000 $153,333 $5,895 7.38%
    47% 3 $435,000 $145,000 $11,226 8.46%
    48% 2 $100,000 $50,000 $0 8.50%
    45% 2 $270,000 $135,000 $8,156 8.49%
    49% 1 $55,000 $55,000 $0 8.50%
    38% 1 $45,000 $45,000 $2,727 8.25%
    39% 1 $35,000 $35,000 $0 8.25%
    40% 1 $55,000 $55,000 $0 6.25%
    44% 1 $55,000 $55,000 $0 8.99%
    46% 1 $55,000 $55,000 $0 8.25%

    Us Employees O.c. Federal Credit Union lent most frequently to those with DTI ratios of 20-30%, with 17 originations. The next most common DTI ratio? 30-36%, with 13 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 44 $3,470,000 $78,864 $3,100 7.86%
    Not provided 8 $930,000 $116,250 $3,092 7.13%
    Black 3 $195,000 $65,000 $0 8.25%
    American Indian 3 $105,000 $35,000 $693 7.67%

    Approval Rates

    Total approvals of all applications
    56.02%

    Us Employees O.c. Federal Credit Union has a low approval rate. They may have poor market targeting or stringent lending standards.

    Pick Rate

    Approvals leading to origination
    34.48%

    Us Employees O.c. 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
    NA 58 $4,700,000 $81,034

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    58 $4,700,000 $81,034

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 17 $885,000 $52,059 $1,054 7.53%
    40-60% 9 $685,000 $76,111 $2,626 7.83%
    60-80% 7 $755,000 $107,857 $4,141 7.85%
    80-100% 5 $1,455,000 $291,000 $6,936 7.40%
    Under 20% 20 $920,000 $46,000 $1,235 7.99%