Caltech Employees Federal Credit Union Mortgage Rates, Fees & Info

La Canada, CA

LEI: 5493009CYWXD5RBPIX14

Tax ID: 95-1681048

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

    Caltech Employees Federal Credit Union is a smaller credit union specializing in Home Purchase and Cash Out Refi loans. Caltech Employees Federal Credit Union has a high proportion of conventional loans. Their top markets by origination volume include: Los Angeles, Riverside, San Francisco, Oxnard, and Santa Rosa among others. We have data for 13 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Caltech Employees Federal 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. Caltech Employees Federal Credit Union is typically a high 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 6.21% 11/22/24
    30 Year Conventional Refi 6.03% 11/22/24
    30 Year Cash-out Refi 6.08% 11/22/24
    15 Year Conventional Purchase 6.09% 11/22/24
    15 Year Conventional Refi 5.80% 11/22/24
    15 Year Cash-out Refi 5.80% 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.

    Caltech Employees Federal Credit Union Mortgage Calculator






    Your Estimates

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

    This is not an official calculator from Caltech Employees Federal 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

    186

    Origination Dollar Volume (All Markets)

    $108,510,000

    Awards

    CALTECH EMPLOYEES FEDERAL CREDIT UNION 30 Year Conventional Loans silver CALTECH EMPLOYEES FEDERAL CREDIT UNION 30 Year Conventional Loans gold
    Show all (2) 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) 141 $86,705,000 $614,929 $6,144 4.04%
    RIVERSIDE-SAN BERNARDINO-ONTARIO, CA (FHA|USDA|VA) 21 $6,495,000 $309,286 $3,745 4.48%
    San Francisco-Oakland-Berkeley, CA (FHA|USDA|VA) 5 $3,885,000 $777,000 $9,001 3.85%
    OXNARD-THOUSAND OAKS-VENTURA, CA (FHA|USDA|VA) 6 $2,400,000 $400,000 $4,336 5.17%
    SANTA ROSA-PETALUMA, CA (FHA|USDA|VA) 1 $2,005,000 $2,005,000 $19,377 3.13%
    SAN DIEGO-CHULA VISTA-CARLSBAD, CA (FHA|USDA|VA) 3 $1,905,000 $635,000 $1,085 4.71%
    SACRAMENTO-ROSEVILLE-FOLSOM, CA (FHA|USDA|VA) 2 $1,340,000 $670,000 $5,532 2.94%
    SANTA CRUZ-WATSONVILLE, CA (FHA|USDA|VA) 1 $1,215,000 $1,215,000 $5,897 3.13%
    VALLEJO, CA (FHA|USDA|VA) 1 $805,000 $805,000 $2,677 3.63%
    CHICO, CA (FHA|USDA|VA) 1 $515,000 $515,000 $3,884 3.38%
    BAKERSFIELD, CA (FHA|USDA|VA) 2 $510,000 $255,000 $5,389 3.31%
    SAN JOSE-SUNNYVALE-SANTA CLARA, CA (FHA|USDA|VA) 1 $415,000 $415,000 $3,109 3.50%
    SAN LUIS OBISPO-PASO ROBLES, CA (FHA|USDA|VA) 1 $315,000 $315,000 $3,134 2.88%
    Caltech Employees Federal Credit Union's top markets include Los Angeles, Riverside, San Francisco, Oxnard, and Santa Rosa among others.

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

    • Similar Lenders

    We use machine learning to identify the top lenders compared against CALTECH EMPLOYEES FEDERAL CREDIT UNION based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.

    LONG BEACH CITY EMPLOYEES Federal Credit Union
    Similarity Rank: 236
    Los Angeles Federal Credit Union
    Similarity Rank: 248
    FRONTWAVE
    Similarity Rank: 544
    FOOTHILL FEDERAL CREDIT UNION
    Similarity Rank: 648
    LBS FINANCIAL
    Similarity Rank: 707
    First City Credit Union
    Similarity Rank: 720
    VENTURA COUNTY
    Similarity Rank: 882
    Sterling Bank and Trust, FSB
    Similarity Rank: 920
    Christian Community Credit Union
    Similarity Rank: 990
    Third Federal Savings and Loan Association of Cleveland
    Similarity Rank: 1053

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 186 $108,510,000 $583,387 $5,802 4.09%

    For 2022, Caltech Employees Federal Credit Union's most frequently originated type of loan was Conventional, with 186 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 76 $60,740,000 $799,211 $9,467 4.28%
    Cash Out Refi 50 $29,910,000 $598,200 $5,168 3.17%
    Home Improvement 33 $4,115,000 $124,697 $182 5.25%
    Refi 19 $12,435,000 $654,474 $5,013 3.11%
    Other 8 $1,310,000 $163,750 $0 5.56%

    For 2022, Caltech Employees Federal Credit Union's most frequently cited loan purpose was Home Purchase, with 76 originations. The 2nd most popular reason was Cash Out Refi, with 50 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 94 $71,920,000 $765,106 $8,417 3.86%
    15 Year 52 $9,410,000 $180,962 $790 4.97%
    30+ year 27 $21,315,000 $789,444 $6,729 3.79%
    20 Year 9 $4,665,000 $518,333 $5,501 2.97%
    10 Year 4 $1,200,000 $300,000 $3,909 2.50%

    For 2022, Caltech Employees Federal Credit Union's most frequently cited loan duration was 30 Year, with 94 originations. The 2nd most popular length was 15 Year, with 52 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 106 $55,840,000 $526,792
    $5k+ 26 $27,700,000 $1,065,385
    $3k-4k 20 $10,140,000 $507,000
    $4k-5k 15 $9,245,000 $616,333
    $2k-3k 14 $4,790,000 $342,143
    $1k-2k 5 $795,000 $159,000

    Caltech Employees Federal Credit Union's average total fees were $8,417, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 106 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    5-6% 55 $16,945,000 $308,091
    3-4% 54 $45,930,000 $850,556
    2.5-3% 45 $23,045,000 $512,111
    4-5% 22 $17,670,000 $803,182
    6-7% 6 $3,720,000 $620,000
    <2.5% 4 $1,200,000 $300,000

    During 2022, Caltech Employees Federal Credit Union's average interest rate for loans was 3.86%, while their most frequently originated rate bucket for loans was 5-6%, with 55 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $600k-1MM 48 $36,370,000 $757,708 $8,114 3.89%
    $400k-600k 41 $19,575,000 $477,439 $5,291 3.50%
    $1MM+ 28 $40,640,000 $1,451,429 $12,428 3.90%
    $200k-400k 27 $7,935,000 $293,889 $4,174 3.85%
    $100,000 or less 22 $1,350,000 $61,364 $0 5.31%
    $100k-200k 20 $2,640,000 $132,000 $604 5.03%

    2022 saw Caltech Employees Federal Credit Union place emphasis on $600k-1MM loans with 48 originations, totaling $36,370,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $150k-250k 71 $39,825,000 $560,915 $5,814 4.04%
    $250k+ 52 $46,070,000 $885,962 $7,528 4.27%
    $100k-150k 34 $14,570,000 $428,529 $5,199 3.89%
    $75k-100k 14 $3,450,000 $246,429 $2,309 4.37%
    $50k-75k 11 $3,275,000 $297,727 $4,657 4.00%
    $50k or less 4 $1,320,000 $330,000 $3,649 3.47%

    Caltech Employees Federal Credit Union lent most frequently to those with incomes in the $150k-250k range, with 71 originations. The second most popular income band? $250k+, with 52 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    30-36% 32 $14,620,000 $456,875 $4,248 3.95%
    50-60% 30 $21,570,000 $719,000 $6,287 4.26%
    20-30% 29 $13,155,000 $453,621 $5,136 3.96%
    <20% 15 $6,815,000 $454,333 $4,778 3.64%
    44% 10 $6,650,000 $665,000 $7,437 4.63%
    46% 8 $3,990,000 $498,750 $5,272 3.59%
    42% 7 $4,255,000 $607,857 $5,148 4.20%
    36% 7 $5,205,000 $743,571 $6,211 4.16%
    41% 6 $4,200,000 $700,000 $6,199 3.50%
    47% 6 $2,520,000 $420,000 $2,309 4.50%
    43% 6 $3,750,000 $625,000 $8,104 4.17%
    38% 5 $3,655,000 $731,000 $5,737 4.50%
    48% 4 $2,720,000 $680,000 $10,570 4.56%
    40% 4 $3,150,000 $787,500 $6,339 4.19%
    45% 4 $2,560,000 $640,000 $4,284 4.44%
    37% 4 $2,570,000 $642,500 $9,583 3.81%
    39% 3 $1,845,000 $615,000 $10,310 5.00%
    49% 3 $795,000 $265,000 $3,252 4.25%
    >60% 3 $4,485,000 $1,495,000 $15,273 3.96%

    Caltech Employees Federal Credit Union lent most frequently to those with DTI ratios of 30-36%, with 32 originations. The next most common DTI ratio? 50-60%, with 30 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 104 $60,700,000 $583,654 $5,958 4.12%
    Not provided 40 $23,380,000 $584,500 $5,026 4.32%
    Asian 23 $14,455,000 $628,478 $6,475 3.81%
    Black 9 $4,715,000 $523,889 $5,010 3.61%
    American Indian 5 $2,325,000 $465,000 $5,069 4.05%
    Asian Indian 1 $1,075,000 $1,075,000 $8,359 3.00%
    Japanese 1 $955,000 $955,000 $18,568 4.25%
    Chinese 2 $680,000 $340,000 $3,453 4.44%
    Korean 1 $225,000 $225,000 $5,332 3.00%

    Approval Rates

    Total approvals of all applications
    94.21%

    Caltech Employees Federal Credit Union has an average approval rate.

    Pick Rate

    Approvals leading to origination
    86.02%

    Caltech Employees Federal Credit Union has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 186 $108,510,000 $583,387

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    186 $108,510,000 $583,387

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 23 $10,195,000 $443,261 $3,955 3.26%
    40-60% 29 $20,465,000 $705,690 $6,671 3.43%
    60-80% 55 $41,855,000 $761,000 $7,829 3.78%
    80-100% 34 $30,980,000 $911,176 $10,208 4.36%
    Under 20% 45 $5,015,000 $111,444 $379 5.11%