Mypoint Credit Union Mortgage Rates, Fees & Info

San Diego, CA

LEI: 549300BYGLNAWS20VR43

Tax ID: 95-1679450

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

    Mypoint Credit Union is a smaller credit union specializing in Cash Out Refi and Refi loans. Mypoint Credit Union has a high proportion of conventional loans. Their top markets by origination volume include: San Diego, Riverside, Los Angeles, and San Luis Obispo among others. We have data for 4 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Mypoint Credit Union has an 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.

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    SimulatedRates™

    Mortgage Type     		Simulated Rate Simulation Date
    30 Year Conventional Purchase 11.16% 12/16/24
    30 Year Conventional Refi 11.22% 12/16/24
    30 Year Cash-out Refi 9.92% 12/16/24
    15 Year Conventional Refi 5.68% 12/16/24
    15 Year Cash-out Refi 5.68% 12/16/24
    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.

    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

    332

    Origination Dollar Volume (All Markets)

    $125,680,000

    Awards

    MYPOINT Credit Union 30 Year Conventional Loans gold MYPOINT Credit Union 30 Year Conventional Loans silver
    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
    SAN DIEGO-CHULA VISTA-CARLSBAD, CA (FHA|USDA|VA) 319 $122,445,000 $383,840 $2,029 3.14%
    RIVERSIDE-SAN BERNARDINO-ONTARIO, CA (FHA|USDA|VA) 9 $1,735,000 $192,778 $2,096 2.72%
    Los Angeles-Long Beach-Anaheim, CA (FHA|USDA|VA) 3 $1,465,000 $488,333 $2,592 3.16%
    SAN LUIS OBISPO-PASO ROBLES, CA (FHA|USDA|VA) 1 $35,000 $35,000 $0 2.49%
    Mypoint Credit Union's top markets include San Diego, Riverside, Los Angeles, and San Luis Obispo 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.

    MANHATTAN FINANCIAL GROUP, INC.
    Similarity Rank: 384
    MYPOINT Credit Union
    Similarity Rank: 560
    THE FIRST FINANCIAL Federal Credit Union
    Similarity Rank: 714
    WINNPOINTE CORPORATION
    Similarity Rank: 924
    VICTORIA FINANCIAL CORP.
    Similarity Rank: 976
    TRI-EMERALD FINANCIAL GROUP, INC.
    Similarity Rank: 1360
    First Standard Financial Corp.
    Similarity Rank: 1764
    MISSION
    Similarity Rank: 1854
    SUMMIT MORTGAGE BANKERS INC.
    Similarity Rank: 1955
    CAPSTONE DIRECT, INC.
    Similarity Rank: 2136

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 219 $111,745,000 $510,251 $2,034 3.20%
    HELOC 113 $13,935,000 $123,319 n/a 2.97%

    For 2020, Mypoint Credit Union's most frequently originated type of loan was Conventional, with 219 originations. Their 2nd most popular type was HELOC, with 113 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Cash Out Refi 217 $64,425,000 $296,889 $1,930 3.13%
    Refi 96 $47,120,000 $490,833 $2,145 3.07%
    Home Purchase 14 $13,400,000 $957,143 $2,527 3.36%
    Other 5 $735,000 $147,000 $0 2.99%

    For 2020, Mypoint Credit Union's most frequently cited loan purpose was Cash Out Refi, with 217 originations. The 2nd most popular reason was Refi, with 96 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 175 $99,475,000 $568,429 $2,160 3.21%
    Other 113 $13,935,000 $123,319 $0 2.97%
    15 Year 34 $8,520,000 $250,588 $1,472 3.23%
    20 Year 7 $3,145,000 $449,286 $2,077 3.07%
    10 Year 3 $605,000 $201,667 $2,019 2.83%

    For 2020, Mypoint Credit Union's most frequently cited loan duration was 30 Year, with 175 originations. The 2nd most popular length was Other, with 113 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 190 $76,220,000 $401,158
    $3k-4k 2 $600,000 $300,000
    $2k-3k 1 $275,000 $275,000

    Mypoint Credit Union's average total fees were $2,160, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 190 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    3-4% 119 $72,235,000 $607,017
    2.5-3% 108 $29,280,000 $271,111
    <2.5% 88 $22,120,000 $251,364
    4-5% 17 $2,045,000 $120,294

    During 2020, Mypoint Credit Union's average interest rate for loans was 3.21%, while their most frequently originated rate bucket for loans was 3-4%, with 119 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 99 $28,485,000 $287,727 $2,127 3.09%
    $100k-200k 63 $8,655,000 $137,381 $1,705 2.89%
    $100,000 or less 59 $3,395,000 $57,542 $866 3.22%
    $400k-600k 55 $26,645,000 $484,455 $2,074 3.16%
    $600k-1MM 39 $29,325,000 $751,923 $2,392 3.18%
    $1MM+ 17 $29,175,000 $1,716,176 $2,690 3.58%

    2020 saw Mypoint Credit Union place emphasis on $200k-400k loans with 99 originations, totaling $28,485,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $150k-250k 82 $27,830,000 $339,390 $2,115 3.06%
    $100k-150k 70 $19,490,000 $278,429 $2,092 3.09%
    $250k+ 38 $14,390,000 $378,684 $2,058 3.12%
    $75k-100k 28 $6,780,000 $242,143 $2,154 3.22%
    $50k-75k 21 $5,525,000 $263,095 $1,824 3.30%
    $50k or less 9 $925,000 $102,778 $1,931 3.36%

    Mypoint Credit Union lent most frequently to those with incomes in the $150k-250k range, with 82 originations. The second most popular income band? $100k-150k, with 70 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 69 $19,875,000 $288,043 $2,065 3.10%
    30-36% 43 $14,935,000 $347,326 $2,130 2.99%
    <20% 25 $5,845,000 $233,800 $2,196 3.15%
    44% 13 $3,985,000 $306,538 $1,884 3.25%
    39% 12 $5,270,000 $439,167 $2,000 2.98%
    36% 12 $4,490,000 $374,167 $2,069 3.08%
    38% 11 $4,105,000 $373,182 $2,140 3.38%
    47% 9 $2,865,000 $318,333 $1,757 3.04%
    41% 9 $2,875,000 $319,444 $1,650 3.25%
    45% 9 $1,725,000 $191,667 $1,435 2.85%
    43% 9 $3,185,000 $353,889 $1,814 3.14%
    48% 7 $1,615,000 $230,714 $1,630 3.53%
    37% 7 $2,165,000 $309,286 $2,431 2.93%
    50-60% 6 $1,150,000 $191,667 $2,009 3.33%
    42% 5 $1,615,000 $323,000 $2,020 3.27%
    40% 3 $715,000 $238,333 $2,077 2.79%
    46% 2 $360,000 $180,000 $2,027 3.06%
    49% 2 $330,000 $165,000 $0 3.75%
    >60% 1 $135,000 $135,000 $1,927 2.88%

    Mypoint Credit Union lent most frequently to those with DTI ratios of 20-30%, with 69 originations. The next most common DTI ratio? 30-36%, with 43 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 153 $43,615,000 $285,065 $2,094 3.05%
    Not provided 124 $37,940,000 $305,968 $1,932 3.11%
    Not applicable 27 $34,695,000 $1,285,000 $0 3.62%
    Asian 14 $4,350,000 $310,714 $2,247 3.06%
    American Indian 6 $2,160,000 $360,000 $2,163 2.75%
    Asian Indian 3 $1,045,000 $348,333 $2,157 3.50%
    Black 2 $720,000 $360,000 $2,143 3.31%
    Other Pacific Islander 1 $515,000 $515,000 $2,157 3.50%
    Chinese 1 $485,000 $485,000 $2,027 2.88%
    Filipino 1 $155,000 $155,000 $1,902 2.88%

    Approval Rates

    Total approvals of all applications
    73.18%

    Mypoint Credit Union has a below average approval rate.

    Pick Rate

    Approvals leading to origination
    97.29%

    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 332 $125,680,000 $378,554

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Site-Built 26 $34,650,000 $1,332,692
    Single Family (1-4 Units):Site-Built 306 $91,030,000 $297,484

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 54 $17,650,000 $326,852 $2,003 3.05%
    40-60% 53 $24,375,000 $459,906 $2,228 3.21%
    60-80% 73 $53,995,000 $739,658 $2,254 3.23%
    80-100% 11 $5,645,000 $513,182 $1,540 3.13%
    Under 20% 89 $10,225,000 $114,888 $885 3.15%