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, Oklahoma City, Tahlequah, and Muskogee among others. We have data for 5 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.

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    SimulatedRates™

    Mortgage Type     		Simulated Rate Simulation Date
    30 Year Conventional Purchase 6.79% 5/4/24
    30 Year Conventional Refi 6.17% 5/4/24
    30 Year Cash-out Refi 6.84% 5/4/24
    15 Year Conventional Purchase 8.19% 5/4/24
    15 Year Conventional Refi 6.20% 5/4/24
    15 Year Cash-out Refi 6.20% 5/4/24
    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

    188

    Origination Dollar Volume (All Markets)

    $20,080,000

    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 $18,240,000 $104,828 $1,665 3.78%
    Outside of Metro Areas 7 $845,000 $120,714 $1,798 3.89%
    OKLAHOMA CITY, OK (FHA|USDA|VA) 5 $615,000 $123,000 $1,756 4.20%
    Tahlequah, OK (FHA|USDA|VA) 1 $195,000 $195,000 $2,608 2.63%
    Muskogee, OK (FHA|USDA|VA) 1 $185,000 $185,000 $1,996 3.63%
    Oklahoma Central Credit Union's top markets include Tulsa, Oklahoma City, Tahlequah, and Muskogee among others.

    Their top states include:
  • Oklahoma (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.

    MORTGAGE CLEARING CORPORATION
    Similarity Rank: 280
    RED CROWN
    Similarity Rank: 360
    OKLAHOMA CENTRAL Credit Union
    Similarity Rank: 450
    First Oklahoma Mortgage, LLC
    Similarity Rank: 540
    Tulsa Federal Credit Union
    Similarity Rank: 950
    TTCU Federal Credit Union
    Similarity Rank: 980
    SpiritBank
    Similarity Rank: 1120
    Truity Federal Credit Union
    Similarity Rank: 1365
    Mabrey Bank
    Similarity Rank: 1995
    Firstar Bank
    Similarity Rank: 2187

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 188 $20,080,000 $106,809 $1,680 3.79%

    For 2021, Oklahoma Central Credit Union's most frequently originated type of loan was Conventional, with 188 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Cash Out Refi 70 $6,280,000 $89,714 $1,072 3.98%
    Home Purchase 46 $8,020,000 $174,348 $3,250 3.42%
    Home Improvement 38 $1,760,000 $46,316 $268 4.45%
    Refi 29 $3,795,000 $130,862 $2,753 2.92%
    Other 5 $225,000 $45,000 $0 4.49%

    For 2021, Oklahoma Central Credit Union's most frequently cited loan purpose was Cash Out Refi, with 70 originations. The 2nd most popular reason was Home Purchase, with 46 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    15 Year 67 $6,005,000 $89,627 $1,194 4.03%
    30 Year 62 $10,680,000 $172,258 $3,242 3.34%
    10 Year 36 $1,700,000 $47,222 $146 4.23%
    5 Year 14 $420,000 $30,000 $242 3.88%
    20 Year 9 $1,275,000 $141,667 $2,754 3.15%

    For 2021, Oklahoma Central Credit Union's most frequently cited loan duration was 15 Year, with 67 originations. The 2nd most popular length was 30 Year, with 62 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 168 $16,980,000 $101,071
    $1k-2k 13 $2,365,000 $181,923
    $2k-3k 3 $455,000 $151,667

    Oklahoma Central Credit Union's average total fees were $3,242, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 168 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    3-4% 82 $10,470,000 $127,683
    4-5% 46 $2,360,000 $51,304
    2.5-3% 37 $5,505,000 $148,784
    5-6% 18 $950,000 $52,778
    <2.5% 5 $795,000 $159,000

    During 2021, Oklahoma Central Credit Union's average interest rate for loans was 3.34%, while their most frequently originated rate bucket for loans was 3-4%, with 82 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 100 $4,830,000 $48,300 $456 4.30%
    $100k-200k 68 $10,060,000 $147,941 $2,909 3.22%
    $200k-400k 19 $4,715,000 $248,158 $3,552 3.18%
    $400k-600k 1 $475,000 $475,000 $3,705 3.13%

    2021 saw Oklahoma Central Credit Union place emphasis on $100,000 or less loans with 100 originations, totaling $4,830,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 56 $6,330,000 $113,036 $2,056 3.77%
    $100k-150k 40 $4,600,000 $115,000 $1,632 3.79%
    $75k-100k 34 $3,250,000 $95,588 $1,475 3.77%
    $50k or less 28 $2,360,000 $84,286 $1,843 3.63%
    $150k-250k 26 $3,230,000 $124,231 $1,337 3.87%
    $250k+ 4 $310,000 $77,500 $0 4.62%

    Oklahoma Central Credit Union lent most frequently to those with incomes in the $50k-75k range, with 56 originations. The second most popular income band? $100k-150k, with 40 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 48 $6,260,000 $130,417 $2,119 3.48%
    30-36% 42 $4,300,000 $102,381 $1,494 3.86%
    <20% 26 $2,970,000 $114,231 $2,058 3.44%
    42% 13 $1,075,000 $82,692 $814 4.29%
    39% 12 $1,410,000 $117,500 $2,402 3.74%
    38% 9 $775,000 $86,111 $1,666 3.95%
    37% 9 $745,000 $82,778 $1,023 4.15%
    36% 9 $695,000 $77,222 $828 4.13%
    41% 8 $880,000 $110,000 $1,600 4.10%
    40% 6 $330,000 $55,000 $378 4.18%
    43% 4 $550,000 $137,500 $1,576 3.93%
    45% 1 $75,000 $75,000 $3,482 4.25%
    44% 1 $15,000 $15,000 $0 4.74%

    Oklahoma Central Credit Union lent most frequently to those with DTI ratios of 20-30%, with 48 originations. The next most common DTI ratio? 30-36%, with 42 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 136 $14,870,000 $109,338 $1,708 3.85%
    American Indian 30 $3,040,000 $101,333 $1,624 3.55%
    Not provided 16 $1,270,000 $79,375 $1,194 3.88%
    Black 4 $470,000 $117,500 $2,254 3.44%
    Asian 2 $430,000 $215,000 $3,386 3.00%

    Approval Rates

    Total approvals of all applications
    83.07%

    Oklahoma Central Credit Union has a below average approval rate.

    Pick Rate

    Approvals leading to origination
    63.30%

    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 188 $20,080,000 $106,809

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    188 $20,080,000 $106,809

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 33 $2,265,000 $68,636 $443 4.27%
    40-60% 24 $3,030,000 $126,250 $2,591 3.02%
    60-80% 31 $5,185,000 $167,258 $3,078 3.11%
    80-100% 43 $7,535,000 $175,233 $3,298 3.48%
    Under 20% 57 $2,065,000 $36,228 $0 4.43%