Wescom Central Credit Union Mortgage Rates, Fees & Info

Pasadena, CA

LEI: 549300C232ZWY1I57C16

Tax ID: 95-1288265

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

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  • SimulatedRates™
  • Mortgage Calculator

    • Mortgage Data

  • Originations
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • Complaints
  • 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

    Wescom Central Credit Union is a smaller credit union specializing in Cash Out Refi and Home Purchase loans. Wescom Central Credit Union has a high proportion of conventional loans. They have a a low proportion of FHA loans. (This may mean they shy away from first time homebuyers.) Their top markets by origination volume include: Los Angeles, Riverside, Oxnard, San Diego, and San Francisco 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.

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    SimulatedRates™

    Mortgage Type     		Simulated Rate Simulation Date
    Home Equity Line of Credit (HELOC) 6.56% 12/16/24
    30 Year Conventional Purchase 5.86% 12/16/24
    30 Year Conventional Refi 5.98% 12/16/24
    30 Year Cash-out Refi 6.07% 12/16/24
    15 Year Conventional Purchase 6.10% 12/16/24
    15 Year Conventional Refi 5.63% 12/16/24
    15 Year Cash-out Refi 5.63% 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.

    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

    2,112

    Origination Dollar Volume (All Markets)

    $399,630,000
    Show all (10) 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) 1,421 $275,655,000 $193,987 $3,992 5.36%
    RIVERSIDE-SAN BERNARDINO-ONTARIO, CA (FHA|USDA|VA) 378 $57,680,000 $152,593 $3,960 5.50%
    OXNARD-THOUSAND OAKS-VENTURA, CA (FHA|USDA|VA) 151 $30,235,000 $200,232 $3,504 5.19%
    SAN DIEGO-CHULA VISTA-CARLSBAD, CA (FHA|USDA|VA) 41 $8,255,000 $201,341 $4,418 5.34%
    San Francisco-Oakland-Berkeley, CA (FHA|USDA|VA) 8 $3,670,000 $458,750 $3,545 4.73%
    SACRAMENTO-ROSEVILLE-FOLSOM, CA (FHA|USDA|VA) 17 $3,055,000 $179,706 $3,521 4.67%
    LAS VEGAS-HENDERSON-PARADISE, NV (FHA|USDA|VA) 11 $1,995,000 $181,364 $4,149 4.40%
    PHOENIX-MESA-CHANDLER, AZ (FHA|USDA|VA) 7 $1,935,000 $276,429 $4,227 3.92%
    STOCKTON, CA (FHA|USDA|VA) 3 $1,555,000 $518,333 $3,980 4.21%
    SANTA MARIA-SANTA BARBARA, CA (FHA|USDA|VA) 8 $1,370,000 $171,250 $4,193 5.25%
    SAN JOSE-SUNNYVALE-SANTA CLARA, CA (FHA|USDA|VA) 2 $1,280,000 $640,000 $9,210 4.43%
    Outside of Metro Areas 5 $1,165,000 $233,000 $3,788 4.12%
    WACO, TX (FHA|USDA|VA) 3 $1,035,000 $345,000 $4,335 4.46%
    SAN LUIS OBISPO-PASO ROBLES, CA (FHA|USDA|VA) 4 $1,030,000 $257,500 $3,673 4.94%
    VISALIA, CA (FHA|USDA|VA) 5 $735,000 $147,000 $5,109 5.92%
    LAKE HAVASU CITY-KINGMAN, AZ (FHA|USDA|VA) 4 $640,000 $160,000 $3,599 4.31%
    Philadelphia-Camden-Wilmington, PA-NJ-DE-MD (FHA|USDA|VA) 1 $635,000 $635,000 $6,323 4.38%
    Dallas-Fort Worth-Arlington, TX (FHA|USDA|VA) 3 $605,000 $201,667 $3,836 4.33%
    BAKERSFIELD, CA (FHA|USDA|VA) 6 $600,000 $100,000 $3,364 5.58%
    SAN ANTONIO-NEW BRAUNFELS, TX (FHA|USDA|VA) 1 $525,000 $525,000 $5,745 3.88%
    CHARLOTTE-CONCORD-GASTONIA, NC-SC (FHA|USDA|VA) 2 $420,000 $210,000 $3,685 4.18%
    VALLEJO, CA (FHA|USDA|VA) 1 $385,000 $385,000 $6,459 4.25%
    EUGENE-SPRINGFIELD, OR (FHA|USDA|VA) 1 $355,000 $355,000 $3,124 4.50%
    BUFFALO-CHEEKTOWAGA, NY (FHA|USDA|VA) 2 $330,000 $165,000 $3,642 4.56%
    ATLANTA-SANDY SPRINGS-ALPHARETTA, GA (FHA|USDA|VA) 1 $325,000 $325,000 $5,462 3.50%
    PRESCOTT VALLEY-PRESCOTT, AZ (FHA|USDA|VA) 1 $305,000 $305,000 $4,671 3.13%
    TUCSON, AZ (FHA|USDA|VA) 2 $290,000 $145,000 $3,678 4.56%
    OLYMPIA-LACEY-TUMWATER, WA (FHA|USDA|VA) 1 $265,000 $265,000 $3,290 4.88%
    HOUSTON-THE WOODLANDS-SUGAR LAND, TX (FHA|USDA|VA) 1 $265,000 $265,000 $4,057 4.00%
    MODESTO, CA (FHA|USDA|VA) 1 $265,000 $265,000 $7,967 4.75%
    ST. GEORGE, UT (FHA|USDA|VA) 1 $265,000 $265,000 $2,956 4.63%
    Payson, AZ (FHA|USDA|VA) 1 $255,000 $255,000 $4,785 4.50%
    RENO, NV (FHA|USDA|VA) 1 $225,000 $225,000 $6,333 4.99%
    ASHEVILLE, NC (FHA|USDA|VA) 1 $225,000 $225,000 $4,844 4.99%
    NAPA, CA (FHA|USDA|VA) 2 $220,000 $110,000 $0 5.13%
    BOISE CITY, ID (FHA|USDA|VA) 1 $215,000 $215,000 $1,828 4.50%
    PORTLAND-VANCOUVER-HILLSBORO, OR-WA (FHA|USDA|VA) 1 $175,000 $175,000 $4,046 5.13%
    MEDFORD, OR (FHA|USDA|VA) 1 $175,000 $175,000 $3,385 4.75%
    FAYETTEVILLE-SPRINGDALE-ROGERS, AR (FHA|USDA|VA) 1 $165,000 $165,000 $2,806 4.50%
    CHARLOTTESVILLE, VA (FHA|USDA|VA) 1 $165,000 $165,000 $3,713 4.88%
    Washington-Arlington-Alexandria, DC-VA-MD-WV (FHA|USDA|VA) 1 $125,000 $125,000 $2,776 4.38%
    Chicago-Naperville-Elgin, IL-IN-WI (FHA|USDA|VA) 1 $125,000 $125,000 $5,789 4.50%
    FRESNO, CA (FHA|USDA|VA) 1 $75,000 $75,000 $0 7.38%
    Cedar City, UT (FHA|USDA|VA) 1 $75,000 $75,000 $2,641 4.13%
    Opelousas, LA (FHA|USDA|VA) 1 $75,000 $75,000 $3,118 4.25%
    Clearlake, CA (FHA|USDA|VA) 1 $65,000 $65,000 $0 5.24%
    CLEVELAND-ELYRIA, OH (FHA|USDA|VA) 1 $55,000 $55,000 $4,379 3.63%
    EL CENTRO, CA (FHA|USDA|VA) 1 $55,000 $55,000 $0 5.25%
    Truckee-Grass Valley, CA (FHA|USDA|VA) 1 $35,000 $35,000 $0 4.99%
    Wescom Central Credit Union's top markets include Los Angeles, Riverside, Oxnard, San Diego, and San Francisco among others.

    Their top states include:
  • California (FHA|USDA|VA)
  • Arizona (FHA|USDA|VA)
  • Texas (FHA|USDA|VA)
  • Nevada (FHA|USDA|VA)
  • Oregon (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.

    MYPOINT Credit Union
    Similarity Rank: 55
    Montecito Bank & Trust
    Similarity Rank: 126
    FRONTWAVE
    Similarity Rank: 176
    CBC Federal Credit Union
    Similarity Rank: 189
    LBS FINANCIAL
    Similarity Rank: 210
    Cabrillo Credit Union
    Similarity Rank: 248
    LA Financial Federal Credit Union
    Similarity Rank: 321
    Nevada Mortgage Inc.
    Similarity Rank: 363
    Water and Power Community Credit Union
    Similarity Rank: 500
    Christian Community Credit Union
    Similarity Rank: 515

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    HELOC 1,384 $141,190,000 $102,016 n/a 5.93%
    Conventional 721 $255,965,000 $355,014 $3,908 4.20%
    FHA 6 $2,080,000 $346,667 $10,548 4.54%
    VA 1 $395,000 $395,000 $14,713 4.38%

    For 2018, Wescom Central Credit Union's most frequently originated type of loan was HELOC, with 1,384 originations. Their 2nd most popular type was Conventional, with 721 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Improvement 733 $78,825,000 $107,538 $3,578 5.77%
    Other 595 $70,795,000 $118,983 $3,420 5.87%
    Cash Out Refi 362 $103,440,000 $285,746 $3,480 4.63%
    Home Purchase 287 $95,235,000 $331,829 $5,176 4.67%
    Refi 135 $51,335,000 $380,259 $3,303 3.97%

    For 2018, Wescom Central Credit Union's most frequently cited loan purpose was Home Improvement, with 733 originations. The 2nd most popular reason was Other, with 595 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 2,003 $374,305,000 $186,872 $4,117 5.41%
    15 Year 66 $15,900,000 $240,909 $3,268 3.95%
    20 Year 36 $8,350,000 $231,944 $3,099 4.30%
    10 Year 7 $1,075,000 $153,571 $2,882 3.71%

    For 2018, Wescom Central Credit Union's most frequently cited loan duration was 30 Year, with 2,003 originations. The 2nd most popular length was 15 Year, with 66 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 515 $193,505,000 $375,738
    $1k-2k 111 $30,585,000 $275,541
    $2k-3k 56 $17,620,000 $314,643
    $3k-4k 20 $6,660,000 $333,000
    $5k+ 17 $6,525,000 $383,824
    $4k-5k 9 $3,545,000 $393,889

    Wescom Central Credit Union's average total fees were $4,117, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 515 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    4-5% 784 $190,000,000 $242,347
    5-6% 518 $56,530,000 $109,131
    6-7% 310 $29,860,000 $96,323
    3-4% 257 $93,605,000 $364,222
    7-8% 125 $11,035,000 $88,280
    Over 8% 85 $5,075,000 $59,706
    2.5-3% 33 $13,525,000 $409,848

    During 2018, Wescom Central Credit Union's average interest rate for loans was 5.41%, while their most frequently originated rate bucket for loans was 4-5%, with 784 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 846 $47,390,000 $56,017 $2,979 6.05%
    $100k-200k 530 $71,470,000 $134,849 $3,374 5.35%
    $200k-400k 454 $125,130,000 $275,617 $3,918 4.72%
    $400k-600k 205 $99,525,000 $485,488 $4,220 4.22%
    $600k-1MM 73 $50,715,000 $694,726 $4,880 4.05%
    $1MM+ 4 $5,400,000 $1,350,000 $7,707 4.09%

    2018 saw Wescom Central Credit Union place emphasis on $100,000 or less loans with 846 originations, totaling $47,390,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 600 $111,710,000 $186,183 $3,986 5.46%
    $150k-250k 549 $117,105,000 $213,306 $4,233 5.51%
    $75k-100k 377 $67,345,000 $178,634 $3,872 5.16%
    $50k-75k 261 $33,425,000 $128,065 $3,689 5.10%
    $250k+ 196 $55,570,000 $283,520 $4,526 5.45%
    $50k or less 129 $14,475,000 $112,209 $3,493 4.85%

    Wescom Central Credit Union lent most frequently to those with incomes in the $100k-150k range, with 600 originations. The second most popular income band? $150k-250k, with 549 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    30-36% 340 $66,330,000 $195,088 $3,876 5.28%
    20-30% 311 $64,185,000 $206,383 $3,871 5.04%
    49% 178 $30,040,000 $168,764 $3,987 5.54%
    48% 140 $20,970,000 $149,786 $3,670 5.63%
    43% 95 $16,995,000 $178,895 $3,835 5.40%
    46% 94 $17,960,000 $191,064 $3,919 5.34%
    44% 94 $18,010,000 $191,596 $4,032 5.68%
    47% 93 $18,385,000 $197,688 $4,480 5.32%
    41% 87 $19,845,000 $228,103 $4,396 5.35%
    37% 84 $16,690,000 $198,690 $4,060 5.43%
    40% 83 $16,775,000 $202,108 $3,824 5.43%
    45% 83 $15,485,000 $186,566 $3,961 5.57%
    <20% 82 $13,990,000 $170,610 $3,679 4.95%
    36% 79 $14,795,000 $187,278 $3,684 5.22%
    38% 78 $16,360,000 $209,744 $4,249 5.23%
    39% 71 $14,525,000 $204,577 $4,705 5.29%
    42% 66 $12,340,000 $186,970 $4,119 5.35%
    50-60% 53 $5,875,000 $110,849 $7,327 5.57%
    >60% 1 $75,000 $75,000 $0 5.88%

    Wescom Central Credit Union lent most frequently to those with DTI ratios of 30-36%, with 340 originations. The next most common DTI ratio? 20-30%, with 311 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 1,057 $192,755,000 $182,360 $3,882 5.32%
    Not provided 686 $132,390,000 $192,988 $3,971 5.32%
    Asian 154 $34,730,000 $225,519 $4,277 5.29%
    Black 130 $21,910,000 $168,538 $4,225 5.61%
    Filipino 27 $5,565,000 $206,111 $4,458 5.48%
    American Indian 26 $4,930,000 $189,615 $3,971 5.32%
    Asian Indian 10 $2,970,000 $297,000 $3,973 4.71%
    Other Asian 8 $2,260,000 $282,500 $5,620 5.36%
    Chinese 4 $810,000 $202,500 $3,041 5.31%
    Native Hawaiian or Islander 4 $610,000 $152,500 $4,144 4.88%
    Korean 2 $350,000 $175,000 $2,815 5.75%
    Vietnamese 2 $230,000 $115,000 $0 6.06%
    Other Pacific Islander 2 $120,000 $60,000 $0 5.56%

    Approval Rates

    Total approvals of all applications
    73.29%

    Wescom Central Credit Union has a below average approval rate.

    Pick Rate

    Approvals leading to origination
    73.15%

    Wescom Central Credit Union has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 2,112 $399,630,000 $189,219

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Single Family (1-4 Units):Manufactured 6 $920,000 $153,333
    Single Family (1-4 Units):Site-Built 2,106 $398,710,000 $189,321

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 370 $68,510,000 $185,162 $3,331 5.35%
    40-60% 193 $62,175,000 $322,150 $3,388 4.39%
    60-80% 338 $137,650,000 $407,249 $4,205 4.28%
    80-100% 118 $46,250,000 $391,949 $4,985 4.44%
    Under 20% 1,093 $85,045,000 $77,809 $3,004 5.92%

    Complaints

    Bank Name Product Issue 2018 CPFB Complaints % of Total Issues
    WASHINGTON FEDERAL BANK, NATIONAL ASSOCIATION Conventional home mortgage Closing on a mortgage 1 14.3%
    WASHINGTON FEDERAL BANK, NATIONAL ASSOCIATION Conventional home mortgage Struggling to pay mortgage 1 14.3%
    WASHINGTON FEDERAL BANK, NATIONAL ASSOCIATION Conventional home mortgage Trouble during payment process 1 14.3%
    WASHINGTON FEDERAL BANK, NATIONAL ASSOCIATION FHA mortgage Struggling to pay mortgage 1 14.3%
    WASHINGTON FEDERAL BANK, NATIONAL ASSOCIATION Other type of mortgage Closing on a mortgage 3 42.9%