Wescom Central Credit Union Mortgage Rates, Fees & Info

Pasadena, CA

LEI: 549300C232ZWY1I57C16

Tax ID: 95-1288265

2.4 stars - Updated: 6/9/24 - out of 5 stars, based on 40 reviews

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

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Mortgage Data

Review & Overview

Wescom Central Credit Union is a smaller credit union specializing in Home Improvement, Other, and Home Purchase loans. Wescom Central Credit Union has a high proportion of conventional loans. Their top markets by origination volume include: Los Angeles, Riverside, Oxnard, San Diego, and Las Vegas among others. We have data for 49 markets. (Some data included below & more in-depth data is available with an active subscription.)

Wescom Central Credit Union has an average approval rate when compared to the average across all lenders. They have a below average pick rate when compared to similar lenders. Wescom Central 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 relatively high 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
Home Equity Line of Credit (HELOC) 6.56% 6/9/24
30 Year Conventional Purchase 5.86% 6/9/24
30 Year Conventional Refi 5.98% 6/9/24
30 Year Cash-out Refi 6.07% 6/9/24
15 Year Conventional Purchase 6.10% 6/9/24
15 Year Conventional Refi 5.63% 6/9/24
15 Year Cash-out Refi 5.63% 6/9/24
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.

Wescom Central Credit Union Mortgage Calculator






Your Estimates

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

This is not an official calculator from Wescom Central 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

1,585

Origination Dollar Volume (All Markets)

$382,805,000

Awards

WESCOM CENTRAL CREDIT UNION 30 Year Conventional Loans silver WESCOM CENTRAL CREDIT UNION 30 Year Conventional Loans silver
Show all (2) awards

Relative Rate

Wescom Central Credit Union's average 30 year fixed mortgage rate was 8.8%.

The 2023 average 30 year fixed rate mortgage across all markets and lenders was 6.48%.

This yields a difference of 2.32%.

Relative Fees (Closing Costs)

Wescom Central Credit Union's average total fees/closing costs for a 30 year fixed rate mortgage were $4,701.

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 $9,089.

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) 1,033 $272,085,000 $263,393 $4,149 8.81%
RIVERSIDE-SAN BERNARDINO-ONTARIO, CA (FHA|USDA|VA) 330 $58,660,000 $177,758 $5,751 8.90%
OXNARD-THOUSAND OAKS-VENTURA, CA (FHA|USDA|VA) 107 $20,385,000 $190,514 $4,059 8.95%
SAN DIEGO-CHULA VISTA-CARLSBAD, CA (FHA|USDA|VA) 38 $11,150,000 $293,421 $5,600 8.71%
LAS VEGAS-HENDERSON-PARADISE, NV (FHA|USDA|VA) 5 $1,825,000 $365,000 $5,020 6.80%
San Francisco-Oakland-Berkeley, CA (FHA|USDA|VA) 5 $1,545,000 $309,000 $0 9.40%
SANTA MARIA-SANTA BARBARA, CA (FHA|USDA|VA) 5 $1,125,000 $225,000 $0 9.10%
NASHVILLE-DAVIDSON-MURFREESBORO-FRANKLIN, TN (FHA|USDA|VA) 2 $1,070,000 $535,000 $4,658 6.31%
PHOENIX-MESA-CHANDLER, AZ (FHA|USDA|VA) 3 $975,000 $325,000 $5,675 6.58%
Seattle-Tacoma-Bellevue, WA (FHA|USDA|VA) 1 $945,000 $945,000 $5,041 6.25%
Dallas-Fort Worth-Arlington, TX (FHA|USDA|VA) 1 $865,000 $865,000 $8,217 6.13%
FRESNO, CA (FHA|USDA|VA) 3 $835,000 $278,333 $3,978 8.58%
ST. GEORGE, UT (FHA|USDA|VA) 1 $815,000 $815,000 $12,824 5.88%
BAKERSFIELD, CA (FHA|USDA|VA) 7 $685,000 $97,857 $0 9.68%
OLYMPIA-LACEY-TUMWATER, WA (FHA|USDA|VA) 1 $685,000 $685,000 $4,555 6.63%
SCRANTON--WILKES-BARRE, PA (FHA|USDA|VA) 1 $675,000 $675,000 $6,908 7.50%
Kalispell, MT (FHA|USDA|VA) 1 $595,000 $595,000 $3,440 7.50%
KNOXVILLE, TN (FHA|USDA|VA) 1 $575,000 $575,000 $5,050 6.63%
MODESTO, CA (FHA|USDA|VA) 1 $515,000 $515,000 $5,597 6.88%
SIERRA VISTA-DOUGLAS, AZ (FHA|USDA|VA) 1 $445,000 $445,000 $10,021 7.38%
Hilo, HI (FHA|USDA|VA) 1 $425,000 $425,000 $5,875 6.50%
LAKE HAVASU CITY-KINGMAN, AZ (FHA|USDA|VA) 2 $420,000 $210,000 $6,155 6.38%
VALLEJO, CA (FHA|USDA|VA) 2 $420,000 $210,000 $4,450 8.06%
GRAND JUNCTION, CO (FHA|USDA|VA) 1 $405,000 $405,000 $5,524 7.38%
TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) 1 $405,000 $405,000 $5,890 5.25%
SAN LUIS OBISPO-PASO ROBLES, CA (FHA|USDA|VA) 2 $310,000 $155,000 $0 8.88%
LEXINGTON-FAYETTE, KY (FHA|USDA|VA) 1 $305,000 $305,000 $3,329 6.88%
SAN JOSE-SUNNYVALE-SANTA CLARA, CA (FHA|USDA|VA) 2 $290,000 $145,000 $0 9.38%
Fairfield, IA (FHA|USDA|VA) 1 $285,000 $285,000 $3,424 6.13%
GREENVILLE, NC (FHA|USDA|VA) 1 $275,000 $275,000 $3,614 7.13%
Granbury, TX (FHA|USDA|VA) 1 $265,000 $265,000 $6,021 6.88%
ANCHORAGE, AK (FHA|USDA|VA) 1 $255,000 $255,000 $3,896 6.38%
SACRAMENTO-ROSEVILLE-FOLSOM, CA (FHA|USDA|VA) 3 $255,000 $85,000 $3,966 9.75%
Outside of Metro Areas 1 $225,000 $225,000 $5,209 6.50%
Kapaa, HI (FHA|USDA|VA) 1 $205,000 $205,000 $5,105 6.00%
SPOKANE-SPOKANE VALLEY, WA (FHA|USDA|VA) 1 $205,000 $205,000 $4,284 7.88%
VISALIA, CA (FHA|USDA|VA) 2 $180,000 $90,000 $0 9.25%
OCALA, FL (FHA|USDA|VA) 1 $175,000 $175,000 $4,231 6.25%
INDIANAPOLIS-CARMEL-ANDERSON, IN (FHA|USDA|VA) 1 $175,000 $175,000 $2,929 8.00%
TOLEDO, OH (FHA|USDA|VA) 2 $160,000 $80,000 $4,327 7.31%
AKRON, OH (FHA|USDA|VA) 2 $150,000 $75,000 $4,111 6.94%
LAS CRUCES, NM (FHA|USDA|VA) 1 $125,000 $125,000 $2,979 6.88%
Clearlake, CA (FHA|USDA|VA) 1 $105,000 $105,000 $5,206 5.88%
ROCHESTER, NY (FHA|USDA|VA) 1 $85,000 $85,000 $3,622 7.00%
FORT WAYNE, IN (FHA|USDA|VA) 1 $75,000 $75,000 $2,764 6.50%
MADERA, CA (FHA|USDA|VA) 1 $55,000 $55,000 $0 8.75%
NAPA, CA (FHA|USDA|VA) 1 $45,000 $45,000 $0 10.50%
REDDING, CA (FHA|USDA|VA) 1 $45,000 $45,000 $0 7.75%
SANTA ROSA-PETALUMA, CA (FHA|USDA|VA) 1 $25,000 $25,000 $0 9.50%
Wescom Central Credit Union's top markets include Los Angeles, Riverside, Oxnard, San Diego, and Las Vegas among others.

Their top states include:
  • California (FHA|USDA|VA)
  • Arizona (FHA|USDA|VA)
  • Washington (FHA|USDA|VA)
  • Nevada (FHA|USDA|VA)
  • Tennessee (FHA|USDA|VA)
  • Similar Lenders

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

    Los Angeles Federal Credit Union
    Similarity Rank: 72
    MISSION
    Similarity Rank: 93
    VENTURA COUNTY
    Similarity Rank: 96
    LBS FINANCIAL
    Similarity Rank: 258
    SAN DIEGO COUNTY CREDIT UNION
    Similarity Rank: 312
    CLARK COUNTY CREDIT UNION
    Similarity Rank: 330
    SOUTHLAND CREDIT UNION
    Similarity Rank: 342
    FIRST ENTERTAINMENT
    Similarity Rank: 351

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    HELOC 1,351 $220,475,000 $163,194 n/a 9.18%
    Conventional 234 $162,330,000 $693,718 $4,724 6.50%

    For 2023, Wescom Central Credit Union's most frequently originated type of loan was HELOC, with 1,351 originations. Their 2nd most popular type was Conventional, with 234 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Improvement 761 $118,675,000 $155,946 $3,830 9.12%
    Other 570 $97,250,000 $170,614 $4,331 9.18%
    Home Purchase 212 $140,480,000 $662,642 $5,160 6.94%
    Cash Out Refi 28 $9,650,000 $344,643 $3,971 6.83%
    Refi 14 $16,750,000 $1,196,429 $2,084 6.15%

    For 2023, Wescom Central Credit Union's most frequently cited loan purpose was Home Improvement, with 761 originations. The 2nd most popular reason was Other, with 570 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 1,577 $380,585,000 $241,335 $4,701 8.80%
    15 Year 7 $2,145,000 $306,429 $5,488 6.75%
    20 Year 1 $75,000 $75,000 $4,585 6.63%

    For 2023, Wescom Central Credit Union's most frequently cited loan duration was 30 Year, with 1,577 originations. The 2nd most popular length was 15 Year, with 7 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $1k-2k 111 $53,885,000 $485,450
    $<1k 74 $83,460,000 $1,127,838
    $5k+ 19 $14,945,000 $786,579
    $2k-3k 16 $5,110,000 $319,375
    $3k-4k 8 $2,380,000 $297,500
    $4k-5k 6 $2,550,000 $425,000

    Wescom Central Credit Union's average total fees were $4,701, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 111 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    Over 8% 1,233 $197,475,000 $160,158
    7-8% 160 $38,720,000 $242,000
    6-7% 135 $87,095,000 $645,148
    5-6% 54 $55,370,000 $1,025,370
    4-5% 3 $4,145,000 $1,381,667

    During 2023, Wescom Central Credit Union's average interest rate for loans was 8.80%, while their most frequently originated rate bucket for loans was Over 8%, with 1,233 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 519 $31,625,000 $60,934 $3,529 9.22%
    $100k-200k 485 $63,925,000 $131,804 $4,091 9.12%
    $200k-400k 351 $96,245,000 $274,202 $5,199 8.67%
    $600k-1MM 89 $69,585,000 $781,854 $5,606 7.02%
    $400k-600k 83 $39,665,000 $477,892 $5,403 8.19%
    $1MM+ 58 $81,760,000 $1,409,655 $3,191 6.38%

    2023 saw Wescom Central Credit Union place emphasis on $100,000 or less loans with 519 originations, totaling $31,625,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $150k-250k 515 $115,465,000 $224,204 $5,434 8.93%
    $100k-150k 399 $50,365,000 $126,228 $4,924 8.95%
    $250k+ 366 $185,080,000 $505,683 $4,363 8.51%
    $75k-100k 155 $18,535,000 $119,581 $4,491 8.80%
    $50k-75k 107 $9,805,000 $91,636 $4,625 8.61%
    $50k or less 43 $3,555,000 $82,674 $3,467 8.31%

    Wescom Central Credit Union lent most frequently to those with incomes in the $150k-250k range, with 515 originations. The second most popular income band? $100k-150k, with 399 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    30-36% 200 $52,550,000 $262,750 $3,919 8.59%
    49% 192 $35,560,000 $185,208 $5,266 8.98%
    20-30% 178 $54,200,000 $304,494 $5,373 8.50%
    48% 109 $18,655,000 $171,147 $3,757 9.08%
    47% 108 $23,720,000 $219,630 $5,154 9.02%
    44% 94 $33,950,000 $361,170 $4,624 8.29%
    50-60% 89 $14,755,000 $165,787 $0 9.10%
    46% 87 $16,465,000 $189,253 $5,722 8.96%
    42% 67 $18,725,000 $279,478 $3,947 8.73%
    45% 65 $13,805,000 $212,385 $5,855 8.98%
    41% 61 $25,395,000 $416,311 $5,057 8.29%
    36% 57 $10,065,000 $176,579 $6,139 8.86%
    40% 57 $12,255,000 $215,000 $4,965 9.21%
    43% 57 $15,025,000 $263,596 $2,337 8.64%
    39% 46 $10,660,000 $231,739 $2,237 8.80%
    <20% 44 $7,860,000 $178,636 $4,791 8.89%
    37% 41 $12,135,000 $295,976 $9,448 8.83%
    38% 32 $6,790,000 $212,188 $6,853 8.70%
    >60% 1 $235,000 $235,000 $0 8.25%

    Wescom Central Credit Union lent most frequently to those with DTI ratios of 30-36%, with 200 originations. The next most common DTI ratio? 49%, with 192 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 862 $216,580,000 $251,253 $4,357 8.73%
    Not provided 387 $86,815,000 $224,328 $4,659 8.86%
    Asian 160 $46,380,000 $289,875 $6,008 8.73%
    Black 113 $18,295,000 $161,903 $4,703 8.92%
    Asian Indian 16 $5,270,000 $329,375 $6,193 8.18%
    Native Hawaiian or Islander 5 $2,475,000 $495,000 $2,031 8.33%
    Filipino 16 $2,110,000 $131,875 $0 9.61%
    American Indian 11 $1,895,000 $172,273 $15,130 9.42%
    Other Asian 5 $1,345,000 $269,000 $8,495 8.33%
    Vietnamese 2 $670,000 $335,000 $0 9.75%
    Other Pacific Islander 5 $475,000 $95,000 $0 10.05%
    Japanese 2 $360,000 $180,000 $0 9.13%
    Chinese 1 $135,000 $135,000 $0 10.50%

    Approval Rates

    Total approvals of all applications
    70.63%

    Wescom Central Credit Union has a below average approval rate.

    Pick Rate

    Approvals leading to origination
    57.03%

    Wescom Central Credit Union has a low pick rate. They may have issues with closing loans or may approve everyone, but with onerous loan terms.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 1,585 $382,805,000 $241,517

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    1,585 $382,805,000 $241,517

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 351 $94,695,000 $269,786 $4,689 9.02%
    40-60% 62 $30,470,000 $491,452 $3,788 7.99%
    60-80% 88 $69,230,000 $786,705 $5,042 6.86%
    80-100% 88 $74,250,000 $843,750 $4,845 6.32%
    Under 20% 996 $114,160,000 $114,618 $4,146 9.14%