Us Employees O.c. Federal Credit Union Mortgage Rates, Fees & Info
Oklahoma City, OKLEI: 549300552HVITY0L9184
Tax ID: 73-0580255
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Mortgage Data
Review & Overview
Us Employees O.c. Federal Credit Union is a smaller credit union specializing in Cash Out Refi and Home Purchase loans. Us Employees O.c. Federal Credit Union has a high proportion of conventional loans. They have an average proportion of FHA 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 an average 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% | 11/22/24 |
| 30 Year Cash-out Refi | 6.27% | 11/22/24 |
| 30 Year FHA Purchase | 6.27% | 11/22/24 |
| 30 Year FHA Refi | 6.27% | 11/22/24 |
| 15 Year Conventional Purchase | 5.68% | 11/22/24 |
| 15 Year Conventional Refi | 5.68% | 11/22/24 |
| 15 Year Cash-out Refi | 5.68% | 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. | ||
Us Employees O.c. Federal 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
37Origination Dollar Volume (All Markets)
$3,765,000Top 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 |
|---|---|---|---|---|---|
| OKLAHOMA CITY, OK (FHA|USDA|VA) | 35 | $3,605,000 | $103,000 | $3,203 | 4.68% |
| Outside of Metro Areas | 2 | $160,000 | $80,000 | $2,718 | 6.13% |
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 | 30 | $3,300,000 | $110,000 | $2,962 | 4.83% |
| HELOC | 5 | $195,000 | $39,000 | n/a | 4.15% |
| FHA | 2 | $270,000 | $135,000 | $6,327 | 5.19% |
For 2022, Us Employees O.c. Federal Credit Union's most frequently originated type of loan was Conventional, with 30 originations. Their 2nd most popular type was HELOC, with 5 originations.
Loan Reason
For 2022, Us Employees O.c. Federal Credit Union's most frequently cited loan purpose was Cash Out Refi, with 18 originations. The 2nd most popular reason was Home Purchase, with 14 originations.
Loan Duration/Length
For 2022, Us Employees O.c. Federal Credit Union's most frequently cited loan duration was 20 Year, with 11 originations. The 2nd most popular length was 15 Year, with 9 originations.
Origination Fees/Closing Costs
| Origination Fee/Closing Cost | Originations | Total Value | Average Loan |
|---|---|---|---|
| $<1k | 18 | $1,450,000 | $80,556 |
| $1k-2k | 8 | $1,190,000 | $148,750 |
| $3k-4k | 5 | $785,000 | $157,000 |
| $2k-3k | 1 | $145,000 | $145,000 |
Us Employees O.c. Federal Credit Union's average total fees were $5,097, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 18 originations.
Interest Rates
During 2022, Us Employees O.c. Federal Credit Union's average interest rate for loans was 6.01%, while their most frequently originated rate bucket for loans was 3-4%, with 9 originations.
Loan Sizing
2022 saw Us Employees O.c. Federal Credit Union place emphasis on $100,000 or less loans with 21 originations, totaling $1,345,000 in origination value.
Applicant Income
Us Employees O.c. Federal Credit Union lent most frequently to those with incomes in the $50k or less range, with 16 originations. The second most popular income band? $50k-75k, with 9 originations.
Applicant Debt to Income Ratio
Us Employees O.c. Federal Credit Union lent most frequently to those with DTI ratios of 30-36%, with 8 originations. The next most common DTI ratio? 20-30%, with 5 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications52.46%
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-54.05%
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 |
|---|---|---|---|
| Exempt | 5 | $195,000 | $39,000 |
| NA | 32 | $3,570,000 | $111,563 |