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 (well, only) market is Modesto.Mocse Federal Credit Union has a below average approval rate when compared to the average across all lenders. They have an average pick rate when compared to similar lenders.
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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| 30 Year Conventional Purchase | 4.89% | 12/17/24 |
| 30 Year Conventional Refi | 6.27% | 12/17/24 |
| 30 Year Cash-out Refi | 6.31% | 12/17/24 |
| 15 Year Conventional Refi | 5.68% | 12/17/24 |
| 15 Year Cash-out Refi | 5.68% | 12/17/24 |
| 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
17Origination Dollar Volume (All Markets)
$655,000Top 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) | 16 | $610,000 | $38,125 | $132 | 7.52% |
| Outside of Metro Areas | 1 | $45,000 | $45,000 | $99 | 6.25% |
Their top states include:
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 17 | $655,000 | $38,529 | $130 | 7.44% |
For 2020, Mocse Federal Credit Union's most frequently originated type of loan was Conventional, with 17 originations.
Loan Reason
| Loan Reason | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Home Improvement | 17 | $655,000 | $38,529 | $130 | 7.44% |
For 2020, Mocse Federal Credit Union's most frequently cited loan purpose was Home Improvement, with 17 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Other | 8 | $160,000 | $20,000 | $88 | 7.63% |
| 15 Year | 6 | $310,000 | $51,667 | $108 | 7.58% |
| 10 Year | 3 | $185,000 | $61,667 | $275 | 6.67% |
For 2020, Mocse Federal Credit Union's most frequently cited loan duration was Other, with 8 originations. The 2nd most popular length was 15 Year, with 6 originations.
Origination Fees/Closing Costs
| Origination Fee/Closing Cost | Originations | Total Value | Average Loan |
|---|---|---|---|
| $<1k | 13 | $555,000 | $42,692 |
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 13 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 7-8% | 10 | $380,000 | $38,000 |
| 6-7% | 4 | $220,000 | $55,000 |
| Over 8% | 2 | $40,000 | $20,000 |
| 5-6% | 1 | $15,000 | $15,000 |
During 2020, Mocse Federal Credit Union's average interest rate for loans was 0.00%, while their most frequently originated rate bucket for loans was 7-8%, with 10 originations.
Loan Sizing
| Loan Size | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| $100,000 or less | 17 | $655,000 | $38,529 | $130 | 7.44% |
2020 saw Mocse Federal Credit Union place emphasis on $100,000 or less loans with 17 originations, totaling $655,000 in origination value.
Applicant Income
Mocse Federal Credit Union lent most frequently to those with incomes in the $150k-250k range, with 6 originations. The second most popular income band? $100k-150k, with 4 originations.
Applicant Debt to Income Ratio
Mocse Federal Credit Union lent most frequently to those with DTI ratios of 41%, with 4 originations. The next most common DTI ratio? 30-36%, with 3 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications66.67%
Mocse Federal Credit Union has a low approval rate. They may have poor market targeting or stringent lending standards.
Pick Rate
Approvals leading to origination94.12%
Mocse Federal Credit Union has an average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 17 | $655,000 | $38,529 |