Water And Power Community Credit Union Mortgage Rates, Fees & Info

LOS ANGELES, CA

LEI: 5493005MZZDC38IUOJ34

Tax ID: 95-0952237

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

Jump to:

  • SimulatedRates™
  • Mortgage Calculator

    • Mortgage Data

  • Originations
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • Complaints
  • Similar Lenders
  • Loan Length
  • Loan to Value Info
  • Debt-to-Income
  • Applicant Income
  • Ethnicity Info
  • Approval & Pick Rates
  • Points and Fees
  • Origination Fees (Closing Costs)

    • Review & Overview

    Water And Power Community Credit Union is a smaller credit union specializing in Cash Out Refi loans. Water And Power Community Credit Union has a high proportion of conventional loans. Their top markets by origination volume include: Los Angeles, Riverside, Oxnard, Eureka, and Fresno among others. We have data for 8 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Water And Power Community Credit Union has an above average approval rate when compared to the average across all lenders. They have a below average pick rate when compared to similar lenders. Water And Power Community Credit Union is typically a low 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 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.

    Mortgage seekers: Choose your metro area here to explore the lowest fee & rate lenders.

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    SimulatedRates™

    Mortgage Type     		Simulated Rate Simulation Date
    30 Year Conventional Purchase 5.77% 4/22/24
    30 Year Conventional Refi 5.91% 4/22/24
    30 Year Cash-out Refi 5.72% 4/22/24
    30 Year FHA Purchase 6.27% 4/22/24
    30 Year VA Purchase 6.27% 4/22/24
    15 Year Conventional Refi 6.55% 4/22/24
    15 Year Cash-out Refi 6.55% 4/22/24
    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.

    Water And Power Community Credit Union Mortgage Calculator






    Your Estimates

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

    This is not an official calculator from Water And Power Community 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

    164

    Origination Dollar Volume (All Markets)

    $30,760,000

    Awards

    Water and Power Community Credit Union 30 Year Conventional Loans gold
    Show all (1) awards

    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
    Los Angeles-Long Beach-Anaheim, CA (FHA|USDA|VA) 136 $24,190,000 $177,868 $2,299 5.39%
    RIVERSIDE-SAN BERNARDINO-ONTARIO, CA (FHA|USDA|VA) 13 $3,575,000 $275,000 $3,620 4.85%
    OXNARD-THOUSAND OAKS-VENTURA, CA (FHA|USDA|VA) 9 $2,275,000 $252,778 $2,609 5.49%
    Eureka-Arcata, CA (FHA|USDA|VA) 1 $275,000 $275,000 $2,104 3.50%
    Outside of Metro Areas 2 $140,000 $70,000 $0 6.75%
    FRESNO, CA (FHA|USDA|VA) 1 $125,000 $125,000 $1,959 3.13%
    SACRAMENTO-ROSEVILLE-FOLSOM, CA (FHA|USDA|VA) 1 $105,000 $105,000 $0 6.50%
    BAKERSFIELD, CA (FHA|USDA|VA) 1 $75,000 $75,000 $2,859 4.50%
    Water And Power Community Credit Union's top markets include Los Angeles, Riverside, Oxnard, Eureka, and Fresno among others.

    Their top states include:
  • California (FHA|USDA|VA)

    • Similar Lenders

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

    Christian Community Credit Union
    Similarity Rank: 220
    LONG BEACH CITY EMPLOYEES Federal Credit Union
    Similarity Rank: 290
    SOUTHLAND CREDIT UNION
    Similarity Rank: 464
    FRONTWAVE
    Similarity Rank: 912
    LA Financial Federal Credit Union
    Similarity Rank: 951
    ARROWHEAD CENTRAL CREDIT UNION
    Similarity Rank: 1107
    LBS FINANCIAL
    Similarity Rank: 1176
    MISSION
    Similarity Rank: 1260
    Water and Power Community Credit Union
    Similarity Rank: 1296
    I.L.W.U. CREDIT UNION
    Similarity Rank: 1368

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 138 $28,450,000 $206,159 $2,461 5.07%
    HELOC 26 $2,310,000 $88,846 n/a 6.72%

    For 2019, Water And Power Community Credit Union's most frequently originated type of loan was Conventional, with 138 originations. Their 2nd most popular type was HELOC, with 26 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Cash Out Refi 132 $22,140,000 $167,727 $1,912 5.58%
    Home Purchase 17 $5,185,000 $305,000 $4,926 4.12%
    Refi 12 $3,180,000 $265,000 $2,408 4.13%
    Home Improvement 2 $130,000 $65,000 $0 6.75%
    Other 1 $125,000 $125,000 $1,959 3.13%

    For 2019, Water And Power Community Credit Union's most frequently cited loan purpose was Cash Out Refi, with 132 originations. The 2nd most popular reason was Home Purchase, with 17 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 93 $13,885,000 $149,301 $2,721 5.72%
    30 Year 39 $13,425,000 $344,231 $2,708 4.20%
    15 Year 24 $2,380,000 $99,167 $1,323 6.05%
    10 Year 5 $525,000 $105,000 $1,472 4.68%
    20 Year 3 $545,000 $181,667 $1,982 4.08%

    For 2019, Water And Power Community Credit Union's most frequently cited loan duration was Other, with 93 originations. The 2nd most popular length was 30 Year, with 39 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 108 $25,230,000 $233,611
    $1k-2k 5 $945,000 $189,000

    Water And Power Community Credit Union's average total fees were $2,708, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 108 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    6-7% 58 $4,590,000 $79,138
    3-4% 50 $15,920,000 $318,400
    5-6% 19 $2,565,000 $135,000
    4-5% 17 $4,945,000 $290,882
    7-8% 12 $990,000 $82,500
    2.5-3% 3 $1,115,000 $371,667
    Over 8% 1 $55,000 $55,000

    During 2019, Water And Power Community Credit Union's average interest rate for loans was 4.20%, while their most frequently originated rate bucket for loans was 6-7%, with 58 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 59 $3,335,000 $56,525 $1,624 6.48%
    $100k-200k 47 $6,025,000 $128,191 $1,779 5.56%
    $200k-400k 34 $9,820,000 $288,824 $2,485 4.11%
    $400k-600k 21 $9,415,000 $448,333 $3,166 3.86%
    $600k-1MM 3 $2,165,000 $721,667 $3,086 3.46%

    2019 saw Water And Power Community Credit Union place emphasis on $100,000 or less loans with 59 originations, totaling $3,335,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 64 $13,230,000 $206,719 $2,481 5.34%
    $75k-100k 35 $6,155,000 $175,857 $2,935 5.50%
    $150k-250k 30 $6,830,000 $227,667 $2,076 5.51%
    $50k-75k 23 $2,825,000 $122,826 $2,253 5.18%
    $50k or less 8 $1,070,000 $133,750 $2,539 4.45%
    $250k+ 4 $650,000 $162,500 $2,578 5.16%

    Water And Power Community Credit Union lent most frequently to those with incomes in the $100k-150k range, with 64 originations. The second most popular income band? $75k-100k, with 35 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    30-36% 33 $6,745,000 $204,394 $2,288 4.90%
    20-30% 26 $5,340,000 $205,385 $2,064 5.17%
    49% 21 $3,115,000 $148,333 $2,796 5.63%
    48% 13 $1,205,000 $92,692 $1,885 6.44%
    47% 8 $1,250,000 $156,250 $1,694 5.97%
    45% 7 $1,945,000 $277,857 $2,380 5.09%
    36% 7 $1,755,000 $250,714 $4,273 4.77%
    46% 7 $775,000 $110,714 $5,121 6.05%
    <20% 6 $520,000 $86,667 $1,951 4.96%
    40% 6 $1,690,000 $281,667 $2,147 5.02%
    41% 5 $655,000 $131,000 $2,001 6.03%
    37% 5 $995,000 $199,000 $1,525 5.33%
    44% 5 $1,525,000 $305,000 $2,516 5.10%
    42% 4 $790,000 $197,500 $5,453 6.16%
    38% 4 $830,000 $207,500 $2,691 4.53%
    43% 3 $835,000 $278,333 $2,528 4.63%
    39% 2 $470,000 $235,000 $2,661 5.13%
    50-60% 2 $320,000 $160,000 $0 6.50%

    Water And Power Community Credit Union lent most frequently to those with DTI ratios of 30-36%, with 33 originations. The next most common DTI ratio? 20-30%, with 26 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    Not provided 78 $12,290,000 $157,564 $2,733 5.56%
    White 53 $11,715,000 $221,038 $2,122 5.10%
    Black 18 $3,940,000 $218,889 $3,032 5.49%
    Asian 11 $2,035,000 $185,000 $2,414 4.98%
    Filipino 2 $660,000 $330,000 $3,148 4.94%
    American Indian 1 $65,000 $65,000 $1,885 3.88%
    Other Asian 1 $55,000 $55,000 $0 5.75%

    Approval Rates

    Total approvals of all applications
    92.92%

    Water And Power Community Credit Union has an average approval rate.

    Pick Rate

    Approvals leading to origination
    80.49%

    Water And Power Community Credit Union has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    0.0 14 $1,070,000 $76,429
    NA 150 $29,690,000 $197,933

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Single Family (1-4 Units):Site-Built 164 $30,760,000 $187,561

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 24 $3,930,000 $163,750 $1,953 4.84%
    40-60% 19 $6,575,000 $346,053 $2,534 3.90%
    60-80% 32 $11,810,000 $369,063 $2,774 4.18%
    80-100% 4 $1,830,000 $457,500 $4,047 3.75%
    Under 20% 84 $6,400,000 $76,190 $1,366 6.36%

    Complaints

    Bank Name Product Issue 2019 CPFB Complaints % of Total Issues
    WATERMARK CAPITAL, INC. Conventional home mortgage Applying for a mortgage or refinancing an existing mortgage 1 50.0%
    WATERMARK CAPITAL, INC. Conventional home mortgage Trouble during payment process 1 50.0%