Oklahoma Central Credit Union Mortgage Rates, Fees & Info

Tulsa, OK

LEI: 54930068H3KVFOUG0285

Tax ID: 73-0731221

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
  • 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

    Oklahoma Central Credit Union is a smaller credit union specializing in Cash Out Refi and Home Purchase loans. Oklahoma Central Credit Union has a high proportion of conventional loans. Their top markets by origination volume include: Tulsa, Dallas, Rockport, Stillwater, and Oklahoma City among others. We have data for 8 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Oklahoma Central Credit Union has an average approval rate when compared to the average across all lenders. They have a below average pick rate when compared to similar lenders. Oklahoma Central 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.

    Mortgage professionals: We have various tools to make your lives easier. Contact us to see how we can help with your market research, analytics or advertising needs.

    SimulatedRates™

    Mortgage Type     		Simulated Rate Simulation Date
    30 Year Conventional Purchase 6.79% 11/21/24
    30 Year Conventional Refi 6.17% 11/21/24
    30 Year Cash-out Refi 6.84% 11/21/24
    15 Year Conventional Purchase 8.19% 11/21/24
    15 Year Conventional Refi 6.20% 11/21/24
    15 Year Cash-out Refi 6.20% 11/21/24
    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.

    Oklahoma Central Credit Union Mortgage Calculator






    Your Estimates

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

    This is not an official calculator from Oklahoma Central 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

    191

    Origination Dollar Volume (All Markets)

    $18,435,000

    Awards

    OKLAHOMA CENTRAL 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
    TULSA, OK (FHA|USDA|VA) 174 $16,590,000 $95,345 $2,856 4.76%
    Outside of Metro Areas 8 $860,000 $107,500 $2,530 4.40%
    Dallas-Fort Worth-Arlington, TX (FHA|USDA|VA) 1 $285,000 $285,000 $6,329 3.38%
    Rockport, TX (FHA|USDA|VA) 1 $265,000 $265,000 $2,015 3.50%
    Stillwater, OK (FHA|USDA|VA) 3 $195,000 $65,000 $3,204 4.62%
    OKLAHOMA CITY, OK (FHA|USDA|VA) 2 $160,000 $80,000 $461 5.24%
    Tahlequah, OK (FHA|USDA|VA) 1 $55,000 $55,000 $3,390 3.50%
    Woodward, OK (FHA|USDA|VA) 1 $25,000 $25,000 $0 5.49%
    Oklahoma Central Credit Union's top markets include Tulsa, Dallas, Rockport, Stillwater, and Oklahoma City among others.

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

    • Similar Lenders

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

    RED CROWN
    Similarity Rank: 45
    Tulsa Federal Credit Union
    Similarity Rank: 84
    Central Bank of Oklahoma
    Similarity Rank: 140
    OKLAHOMA CENTRAL Credit Union
    Similarity Rank: 352
    TTCU Federal Credit Union
    Similarity Rank: 360
    COMMUNICATION
    Similarity Rank: 494
    MORTGAGE CLEARING CORPORATION
    Similarity Rank: 720
    SpiritBank
    Similarity Rank: 1057
    Mabrey Bank
    Similarity Rank: 1125
    Truity Federal Credit Union
    Similarity Rank: 1360

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 191 $18,435,000 $96,518 $2,831 4.73%

    For 2019, Oklahoma Central Credit Union's most frequently originated type of loan was Conventional, with 191 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Cash Out Refi 87 $5,015,000 $57,644 $2,577 5.06%
    Home Purchase 63 $10,545,000 $167,381 $3,104 4.20%
    Home Improvement 22 $890,000 $40,455 $633 5.38%
    Refi 16 $1,810,000 $113,125 $2,608 4.07%
    Other 3 $175,000 $58,333 $0 5.16%

    For 2019, Oklahoma Central Credit Union's most frequently cited loan purpose was Cash Out Refi, with 87 originations. The 2nd most popular reason was Home Purchase, with 63 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    15 Year 77 $5,415,000 $70,325 $2,695 4.92%
    30 Year 64 $10,250,000 $160,156 $3,034 4.29%
    10 Year 30 $1,650,000 $55,000 $2,383 5.07%
    5 Year 14 $510,000 $36,429 $0 5.17%
    20 Year 4 $480,000 $120,000 $2,663 4.41%
    Other 2 $130,000 $65,000 $1,118 4.44%

    For 2019, Oklahoma Central Credit Union's most frequently cited loan duration was 15 Year, with 77 originations. The 2nd most popular length was 30 Year, with 64 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 178 $16,530,000 $92,865
    $1k-2k 12 $1,610,000 $134,167
    $2k-3k 1 $295,000 $295,000

    Oklahoma Central Credit Union's average total fees were $3,034, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 178 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    4-5% 75 $8,345,000 $111,267
    5-6% 52 $2,650,000 $50,962
    3-4% 51 $6,825,000 $133,824
    6-7% 13 $615,000 $47,308

    During 2019, Oklahoma Central Credit Union's average interest rate for loans was 4.29%, while their most frequently originated rate bucket for loans was 4-5%, with 75 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 116 $5,760,000 $49,655 $2,478 5.05%
    $100k-200k 58 $8,110,000 $139,828 $2,955 4.34%
    $200k-400k 16 $4,080,000 $255,000 $3,443 3.88%
    $400k-600k 1 $485,000 $485,000 $3,071 4.50%

    2019 saw Oklahoma Central Credit Union place emphasis on $100,000 or less loans with 116 originations, totaling $5,760,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 43 $3,705,000 $86,163 $2,708 4.94%
    $75k-100k 40 $3,160,000 $79,000 $2,674 5.04%
    $50k-75k 36 $3,550,000 $98,611 $2,886 4.74%
    $50k or less 30 $2,660,000 $88,667 $2,774 4.49%
    $150k-250k 20 $2,760,000 $138,000 $3,250 4.55%
    $250k+ 6 $1,470,000 $245,000 $3,058 4.54%

    Oklahoma Central Credit Union lent most frequently to those with incomes in the $100k-150k range, with 43 originations. The second most popular income band? $75k-100k, with 40 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    30-36% 33 $3,445,000 $104,394 $2,559 5.03%
    20-30% 30 $3,480,000 $116,000 $2,926 4.68%
    <20% 10 $1,250,000 $125,000 $2,729 4.37%
    39% 7 $345,000 $49,286 $2,032 5.23%
    37% 6 $620,000 $103,333 $2,805 4.56%
    38% 6 $760,000 $126,667 $3,004 4.98%
    40% 5 $265,000 $53,000 $2,538 5.54%
    36% 4 $250,000 $62,500 $2,687 5.31%
    41% 3 $165,000 $55,000 $0 6.07%
    42% 3 $255,000 $85,000 $2,886 5.91%
    43% 2 $220,000 $110,000 $2,615 3.75%
    44% 1 $75,000 $75,000 $2,795 4.75%

    Oklahoma Central 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 30 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 153 $14,845,000 $97,026 $2,842 4.73%
    Not provided 15 $1,895,000 $126,333 $2,944 4.32%
    American Indian 16 $1,310,000 $81,875 $2,603 5.26%
    Black 6 $290,000 $48,333 $2,653 4.31%
    Not applicable 1 $95,000 $95,000 $3,148 5.13%

    Approval Rates

    Total approvals of all applications
    83.71%

    Oklahoma Central Credit Union has a below average approval rate.

    Pick Rate

    Approvals leading to origination
    29.84%

    Oklahoma Central 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 191 $18,435,000 $96,518

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Single Family (1-4 Units):Site-Built 191 $18,435,000 $96,518

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 23 $1,305,000 $56,739 $1,603 5.49%
    40-60% 11 $995,000 $90,455 $2,631 4.09%
    60-80% 23 $3,215,000 $139,783 $3,007 4.24%
    80-100% 28 $4,720,000 $168,571 $2,933 4.50%
    Under 20% 25 $895,000 $35,800 $849 5.85%