Mypoint Credit Union Mortgage Rates, Fees & Info

San Diego, CA

LEI: 549300BYGLNAWS20VR43

Tax ID: 95-1679450

5 stars - Updated: 4/5/25 - out of 5 stars, based on 15 reviews

Latest/2024 | 2023 Data | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data

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  • SimulatedRates™
  • Mortgage Calculator

    • Mortgage Data

  • Originations
  • Relative Rates
  • Relative Fees
  • 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

    Mypoint Credit Union is a smaller credit union specializing in Cash Out Refi and Home Purchase loans. Mypoint Credit Union has a high proportion of conventional loans. Their top markets by origination volume include: San Diego, Los Angeles, Riverside, San Francisco, and Chico among others. We have data for 9 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Mypoint 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. Mypoint 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 11.30% 4/5/25
    30 Year Conventional Refi 11.89% 4/5/25
    30 Year Cash-out Refi 13.09% 4/5/25
    15 Year Conventional Purchase 11.05% 4/5/25
    15 Year Conventional Refi 11.38% 4/5/25
    15 Year Cash-out Refi 11.38% 4/5/25
    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.

    Mypoint Credit Union Mortgage Calculator






    Your Estimates

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

    This is not an official calculator from Mypoint 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

    226

    Origination Dollar Volume (All Markets)

    $69,500,000
    Show all (6) awards

    Relative Rate

    Mypoint Credit Union's average 30 year fixed mortgage rate was 5.9%.

    The 2024 average 30 year fixed rate mortgage across all markets and lenders was 6.55%.

    This yields a difference of -0.65%.

    Relative Fees (Closing Costs)

    Mypoint Credit Union's average total fees/closing costs for a 30 year fixed rate mortgage were $2,426.

    The average total origination fees for 30 year fixed rate mortgages across all lenders (for all loan values, including both points & up-front fees in addition to origination fees) were $8,356.

    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
    SAN DIEGO-CHULA VISTA-CARLSBAD, CA (FHA|USDA|VA) 196 $55,730,000 $284,337 $1,932 6.69%
    Outside of Metro Areas 13 $9,085,000 $698,846 $1,669 5.71%
    Los Angeles-Long Beach-Anaheim, CA (FHA|USDA|VA) 4 $2,260,000 $565,000 $3,152 5.97%
    RIVERSIDE-SAN BERNARDINO-ONTARIO, CA (FHA|USDA|VA) 6 $690,000 $115,000 $250 7.37%
    San Francisco-Oakland-Berkeley, CA (FHA|USDA|VA) 2 $580,000 $290,000 $0 6.99%
    CHICO, CA (FHA|USDA|VA) 1 $465,000 $465,000 $3,271 5.00%
    SAN JOSE-SUNNYVALE-SANTA CLARA, CA (FHA|USDA|VA) 1 $255,000 $255,000 $0 6.74%
    SAN LUIS OBISPO-PASO ROBLES, CA (FHA|USDA|VA) 1 $255,000 $255,000 $0 6.74%
    EL CENTRO, CA (FHA|USDA|VA) 2 $180,000 $90,000 $0 6.24%
    Mypoint Credit Union's top markets include San Diego, Los Angeles, Riverside, San Francisco, and Chico among others.

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

    • Similar Lenders

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

    CALIFORNIA CREDIT UNION
    Similarity Rank: 72
    MYPOINT Credit Union
    Similarity Rank: 81
    SAN DIEGO COUNTY CREDIT UNION
    Similarity Rank: 184
    MISSION
    Similarity Rank: 205
    San Diego Funding
    Similarity Rank: 888
    SCHOOLSFIRST
    Similarity Rank: 1155
    INSPIRE HOME LOANS INC.
    Similarity Rank: 1224
    East West Bank
    Similarity Rank: 1353
    California Coast Credit Union
    Similarity Rank: 1725
    FIRST NATIONS HOME FINANCE CORPORATION
    Similarity Rank: 1780

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    HELOC 153 $30,105,000 $196,765 n/a 6.90%
    Conventional 73 $39,395,000 $539,658 $1,931 6.07%

    For 2024, Mypoint Credit Union's most frequently originated type of loan was HELOC, with 153 originations. Their 2nd most popular type was Conventional, with 73 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Cash Out Refi 174 $33,750,000 $193,966 $533 6.87%
    Home Purchase 35 $26,445,000 $755,571 $2,519 5.88%
    Refi 16 $9,050,000 $565,625 $2,656 5.62%
    Home Improvement 1 $255,000 $255,000 $0 6.74%

    For 2024, Mypoint Credit Union's most frequently cited loan purpose was Cash Out Refi, with 174 originations. The 2nd most popular reason was Home Purchase, with 35 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 153 $30,105,000 $196,765 $0 6.90%
    30 Year 42 $31,220,000 $743,333 $2,426 5.90%
    15 Year 24 $4,020,000 $167,500 $602 6.61%
    20 Year 5 $3,625,000 $725,000 $3,454 5.43%
    10 Year 2 $530,000 $265,000 $2,340 4.63%

    For 2024, Mypoint Credit Union's most frequently cited loan duration was Other, with 153 originations. The 2nd most popular length was 30 Year, with 42 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 49 $35,675,000 $728,061
    $4k-5k 2 $570,000 $285,000

    Mypoint Credit Union's average total fees were $2,426, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 49 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    6-7% 127 $29,175,000 $229,724
    5-6% 56 $31,300,000 $558,929
    7-8% 24 $4,410,000 $183,750
    Over 8% 13 $1,785,000 $137,308
    4-5% 6 $2,830,000 $471,667

    During 2024, Mypoint Credit Union's average interest rate for loans was 5.90%, while their most frequently originated rate bucket for loans was 6-7%, with 127 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 70 $18,130,000 $259,000 $2,921 6.68%
    $100k-200k 62 $8,120,000 $130,968 $755 7.10%
    $100,000 or less 39 $2,665,000 $68,333 $433 6.80%
    $400k-600k 24 $11,690,000 $487,083 $2,250 6.17%
    $600k-1MM 20 $15,380,000 $769,000 $1,546 5.72%
    $1MM+ 11 $13,515,000 $1,228,636 $3,538 5.73%

    2024 saw Mypoint Credit Union place emphasis on $200k-400k loans with 70 originations, totaling $18,130,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $150k-250k 84 $24,170,000 $287,738 $1,433 6.57%
    $250k+ 61 $32,825,000 $538,115 $3,148 6.60%
    $100k-150k 31 $5,105,000 $164,677 $535 6.64%
    $75k-100k 21 $2,875,000 $136,905 $1,207 6.99%
    $50k-75k 10 $1,020,000 $102,000 $250 6.88%
    $50k or less 3 $235,000 $78,333 $2,077 5.95%

    Mypoint Credit Union lent most frequently to those with incomes in the $150k-250k range, with 84 originations. The second most popular income band? $250k+, with 61 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    30-36% 38 $13,500,000 $355,263 $1,797 6.53%
    20-30% 31 $9,235,000 $297,903 $1,831 6.78%
    <20% 17 $3,915,000 $230,294 $2,794 7.62%
    45% 16 $5,790,000 $361,875 $1,522 6.12%
    44% 16 $3,720,000 $232,500 $4,091 6.81%
    39% 12 $3,640,000 $303,333 $1,690 6.38%
    43% 9 $2,705,000 $300,556 $1,697 6.67%
    48% 8 $3,300,000 $412,500 $218 6.59%
    37% 7 $2,275,000 $325,000 $2,819 6.46%
    49% 7 $1,105,000 $157,857 $0 7.35%
    38% 7 $2,455,000 $350,714 $2,397 6.23%
    46% 7 $1,755,000 $250,714 $0 6.53%
    42% 6 $1,780,000 $296,667 $240 6.74%
    36% 6 $1,180,000 $196,667 $250 6.70%
    40% 6 $1,810,000 $301,667 $275 6.47%
    50-60% 5 $1,065,000 $213,000 $0 6.22%
    41% 3 $1,005,000 $335,000 $380 6.37%
    47% 2 $2,090,000 $1,045,000 $3,674 6.00%
    >60% 2 $220,000 $110,000 $0 6.12%

    Mypoint Credit Union lent most frequently to those with DTI ratios of 30-36%, with 38 originations. The next most common DTI ratio? 20-30%, with 31 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 157 $40,225,000 $256,210 $1,779 6.73%
    Asian 39 $17,135,000 $439,359 $2,065 6.40%
    Not provided 12 $4,540,000 $378,333 $1,053 6.31%
    Asian Indian 6 $4,060,000 $676,667 $1,077 5.67%
    Black 5 $2,095,000 $419,000 $1,452 6.57%
    American Indian 4 $980,000 $245,000 $9,068 7.37%
    Native Hawaiian or Islander 2 $310,000 $155,000 $0 6.49%
    Filipino 1 $155,000 $155,000 $0 6.24%

    Approval Rates

    Total approvals of all applications
    69.21%

    Mypoint Credit Union has a low approval rate. They may have poor market targeting or stringent lending standards.

    Pick Rate

    Approvals leading to origination
    98.67%

    Mypoint 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 226 $69,500,000 $307,522

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    226 $69,500,000 $307,522

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 47 $13,005,000 $276,702 $2,160 6.68%
    40-60% 7 $4,015,000 $573,571 $2,090 6.09%
    60-80% 22 $16,790,000 $763,182 $2,829 5.96%
    80-100% 11 $10,545,000 $958,636 $2,127 5.55%
    Over 100% 1 $215,000 $215,000 $250 7.00%
    Under 20% 118 $18,190,000 $154,153 $559 6.91%