Mocse Federal Credit Union Mortgage Rates, Fees & Info
Modesto, CALEI: 5493006JV2DB2OI1FI31
Tax ID: 94-1476759
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Mortgage Data
Review & Overview
Mocse Federal Credit Union is a smaller credit union specializing in Home Improvement loans. Mocse Federal Credit Union has a high proportion of conventional loans. Their top markets by origination volume include: Modesto, Sonora, Merced, and Stockton among others. We have data for 5 markets. (Some data included below & more in-depth data is available with an active subscription.)Mocse Federal Credit Union has a below average approval rate when compared to the average across all lenders. They have an above average pick rate when compared to similar lenders.
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 | 4.89% | 11/22/24 |
| 30 Year Conventional Refi | 6.27% | 11/22/24 |
| 30 Year Cash-out Refi | 6.31% | 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. | ||
Mocse 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
54Origination Dollar Volume (All Markets)
$2,120,000Top 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 |
|---|---|---|---|---|---|
| MODESTO, CA (FHA|USDA|VA) | 45 | $1,775,000 | $39,444 | $104 | 6.20% |
| Sonora, CA (FHA|USDA|VA) | 4 | $200,000 | $50,000 | $109 | 6.13% |
| Outside of Metro Areas | 3 | $95,000 | $31,667 | $150 | 5.08% |
| MERCED, CA (FHA|USDA|VA) | 1 | $25,000 | $25,000 | $85 | 8.00% |
| STOCKTON, CA (FHA|USDA|VA) | 1 | $25,000 | $25,000 | $105 | 6.00% |
Their top states include:
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 54 | $2,120,000 | $39,259 | $107 | 6.16% |
For 2018, Mocse Federal Credit Union's most frequently originated type of loan was Conventional, with 54 originations.
Loan Reason
| Loan Reason | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Home Improvement | 50 | $1,740,000 | $34,800 | $105 | 6.26% |
| Refi | 3 | $335,000 | $111,667 | $128 | 4.83% |
| Other | 1 | $45,000 | $45,000 | $105 | 5.50% |
For 2018, Mocse Federal Credit Union's most frequently cited loan purpose was Home Improvement, with 50 originations. The 2nd most popular reason was Refi, with 3 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| 10 Year | 21 | $1,005,000 | $47,857 | $117 | 5.25% |
| Other | 20 | $600,000 | $30,000 | $96 | 6.90% |
| 15 Year | 13 | $515,000 | $39,615 | $108 | 6.50% |
For 2018, Mocse Federal Credit Union's most frequently cited loan duration was 10 Year, with 21 originations. The 2nd most popular length was Other, with 20 originations.
Origination Fees/Closing Costs
| Origination Fee/Closing Cost | Originations | Total Value | Average Loan |
|---|---|---|---|
| $<1k | 53 | $2,095,000 | $39,528 |
Mocse Federal Credit Union's average total fees were $0, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 53 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 4-5% | 17 | $845,000 | $49,706 |
| 5-6% | 11 | $475,000 | $43,182 |
| 7-8% | 11 | $295,000 | $26,818 |
| 6-7% | 8 | $260,000 | $32,500 |
| Over 8% | 4 | $60,000 | $15,000 |
| 3-4% | 3 | $185,000 | $61,667 |
During 2018, Mocse Federal Credit Union's average interest rate for loans was 0.00%, while their most frequently originated rate bucket for loans was 4-5%, with 17 originations.
Loan Sizing
| Loan Size | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| $100,000 or less | 52 | $1,830,000 | $35,192 | $105 | 6.20% |
| $100k-200k | 2 | $290,000 | $145,000 | $140 | 5.25% |
2018 saw Mocse Federal Credit Union place emphasis on $100,000 or less loans with 52 originations, totaling $1,830,000 in origination value.
Applicant Income
Mocse Federal Credit Union lent most frequently to those with incomes in the $150k-250k range, with 16 originations. The second most popular income band? $100k-150k, with 14 originations.
Applicant Debt to Income Ratio
Mocse Federal Credit Union lent most frequently to those with DTI ratios of 30-36%, with 18 originations. The next most common DTI ratio? 20-30%, with 14 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications62.92%
Mocse Federal Credit Union has a low approval rate. They may have poor market targeting or stringent lending standards.
Pick Rate
Approvals leading to origination96.30%
Mocse Federal Credit Union has an exceptionally high pick rate. They most likely have borrower friendly terms or other characteristics like being fast to close or are easy to work with.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 54 | $2,120,000 | $39,259 |