Wescom Central Credit Union Mortgage Rates, Fees & Info

Pasadena, CA

LEI: 549300C232ZWY1I57C16

Tax ID: 95-1288265

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Mortgage Data

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. 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% 3/28/24
30 Year Conventional Purchase 5.86% 3/28/24
30 Year Conventional Refi 5.98% 3/28/24
30 Year Cash-out Refi 6.07% 3/28/24
15 Year Conventional Purchase 6.10% 3/28/24
15 Year Conventional Refi 5.63% 3/28/24
15 Year Cash-out Refi 5.63% 3/28/24
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

2,088

Origination Dollar Volume (All Markets)

$506,190,000
Show all (6) 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) 1,400 $363,290,000 $259,493 $4,067 5.16%
RIVERSIDE-SAN BERNARDINO-ONTARIO, CA (FHA|USDA|VA) 390 $79,060,000 $202,718 $4,022 5.11%
OXNARD-THOUSAND OAKS-VENTURA, CA (FHA|USDA|VA) 121 $23,975,000 $198,140 $4,070 5.28%
SAN DIEGO-CHULA VISTA-CARLSBAD, CA (FHA|USDA|VA) 44 $10,090,000 $229,318 $3,746 5.74%
San Francisco-Oakland-Berkeley, CA (FHA|USDA|VA) 15 $4,445,000 $296,333 $5,477 5.35%
PHOENIX-MESA-CHANDLER, AZ (FHA|USDA|VA) 9 $2,485,000 $276,111 $3,104 3.94%
BAKERSFIELD, CA (FHA|USDA|VA) 13 $2,025,000 $155,769 $4,442 5.36%
SACRAMENTO-ROSEVILLE-FOLSOM, CA (FHA|USDA|VA) 11 $2,015,000 $183,182 $5,082 5.25%
SANTA MARIA-SANTA BARBARA, CA (FHA|USDA|VA) 8 $1,720,000 $215,000 $2,934 5.95%
SAN LUIS OBISPO-PASO ROBLES, CA (FHA|USDA|VA) 8 $1,490,000 $186,250 $3,903 5.01%
LAS VEGAS-HENDERSON-PARADISE, NV (FHA|USDA|VA) 8 $1,450,000 $181,250 $3,765 4.14%
STOCKTON, CA (FHA|USDA|VA) 3 $1,255,000 $418,333 $2,831 3.54%
PROVO-OREM, UT (FHA|USDA|VA) 2 $900,000 $450,000 $4,906 4.25%
Outside of Metro Areas 5 $845,000 $169,000 $3,150 4.98%
Seattle-Tacoma-Bellevue, WA (FHA|USDA|VA) 2 $810,000 $405,000 $3,931 3.75%
LAKE HAVASU CITY-KINGMAN, AZ (FHA|USDA|VA) 3 $705,000 $235,000 $4,346 3.91%
RENO, NV (FHA|USDA|VA) 2 $700,000 $350,000 $2,829 3.31%
DENVER-AURORA-LAKEWOOD, CO (FHA|USDA|VA) 2 $700,000 $350,000 $3,327 4.19%
PORTLAND-VANCOUVER-HILLSBORO, OR-WA (FHA|USDA|VA) 2 $660,000 $330,000 $6,090 4.00%
Philadelphia-Camden-Wilmington, PA-NJ-DE-MD (FHA|USDA|VA) 1 $505,000 $505,000 $4,906 3.50%
VISALIA, CA (FHA|USDA|VA) 3 $505,000 $168,333 $4,526 4.21%
MODESTO, CA (FHA|USDA|VA) 1 $495,000 $495,000 $4,022 3.75%
COLORADO SPRINGS, CO (FHA|USDA|VA) 1 $445,000 $445,000 $4,055 4.75%
SALT LAKE CITY, UT (FHA|USDA|VA) 2 $440,000 $220,000 $3,788 4.25%
RALEIGH-CARY, NC (FHA|USDA|VA) 1 $415,000 $415,000 $3,742 4.38%
TUCSON, AZ (FHA|USDA|VA) 2 $370,000 $185,000 $3,540 3.31%
ATLANTA-SANDY SPRINGS-ALPHARETTA, GA (FHA|USDA|VA) 2 $330,000 $165,000 $2,881 4.06%
BOISE CITY, ID (FHA|USDA|VA) 2 $320,000 $160,000 $3,470 4.50%
Kapaa, HI (FHA|USDA|VA) 1 $315,000 $315,000 $8,770 3.75%
LYNCHBURG, VA (FHA|USDA|VA) 1 $315,000 $315,000 $6,604 4.13%
CHARLESTON-NORTH CHARLESTON, SC (FHA|USDA|VA) 1 $265,000 $265,000 $2,699 3.75%
PRESCOTT VALLEY-PRESCOTT, AZ (FHA|USDA|VA) 2 $240,000 $120,000 $3,522 3.50%
VALLEJO, CA (FHA|USDA|VA) 1 $235,000 $235,000 $0 6.49%
SANTA FE, NM (FHA|USDA|VA) 2 $230,000 $115,000 $3,698 4.69%
AUSTIN-ROUND ROCK-GEORGETOWN, TX (FHA|USDA|VA) 1 $225,000 $225,000 $8,835 5.13%
MANCHESTER-NASHUA, NH (FHA|USDA|VA) 1 $215,000 $215,000 $3,228 3.88%
SAN JOSE-SUNNYVALE-SANTA CLARA, CA (FHA|USDA|VA) 3 $215,000 $71,667 $0 5.38%
Sonora, CA (FHA|USDA|VA) 1 $185,000 $185,000 $3,109 4.88%
Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) 1 $175,000 $175,000 $3,935 3.99%
Dallas-Fort Worth-Arlington, TX (FHA|USDA|VA) 1 $155,000 $155,000 $3,666 3.99%
CINCINNATI, OH-KY-IN (FHA|USDA|VA) 1 $145,000 $145,000 $4,039 4.38%
Durango, CO (FHA|USDA|VA) 1 $145,000 $145,000 $3,309 4.25%
Detroit-Warren-Dearborn, MI (FHA|USDA|VA) 1 $135,000 $135,000 $3,081 3.88%
KANSAS CITY, MO-KS (FHA|USDA|VA) 1 $125,000 $125,000 $4,989 4.75%
HOUSTON-THE WOODLANDS-SUGAR LAND, TX (FHA|USDA|VA) 1 $105,000 $105,000 $4,070 4.99%
YUBA CITY, CA (FHA|USDA|VA) 1 $105,000 $105,000 $0 5.50%
SANTA ROSA-PETALUMA, CA (FHA|USDA|VA) 1 $85,000 $85,000 $0 8.13%
PITTSBURGH, PA (FHA|USDA|VA) 1 $85,000 $85,000 $3,635 4.13%
Ukiah, CA (FHA|USDA|VA) 1 $45,000 $45,000 $0 5.50%
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)
  • Nevada (FHA|USDA|VA)
  • Utah (FHA|USDA|VA)
  • Colorado (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: 147
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    SIMPLIFI MORTGAGE, LLC
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    Nevada Mortgage Inc.
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    ALOHA PACIFIC
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    Credit Union 1
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    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    HELOC 1,142 $123,290,000 $107,960 n/a 6.22%
    Conventional 946 $382,900,000 $404,757 $4,050 3.84%

    For 2019, Wescom Central Credit Union's most frequently originated type of loan was HELOC, with 1,142 originations. Their 2nd most popular type was Conventional, with 946 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Improvement 631 $70,945,000 $112,433 $4,464 6.06%
    Other 501 $88,965,000 $177,575 $3,396 5.67%
    Cash Out Refi 444 $141,910,000 $319,617 $3,799 4.51%
    Home Purchase 305 $118,575,000 $388,770 $5,237 4.27%
    Refi 207 $85,795,000 $414,469 $3,263 3.69%

    For 2019, Wescom Central Credit Union's most frequently cited loan purpose was Home Improvement, with 631 originations. The 2nd most popular reason was Other, with 501 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 1,932 $461,930,000 $239,094 $4,121 5.27%
    15 Year 108 $31,580,000 $292,407 $3,717 3.37%
    20 Year 42 $11,940,000 $284,286 $3,699 3.86%
    10 Year 6 $740,000 $123,333 $3,129 3.83%

    For 2019, Wescom Central Credit Union's most frequently cited loan duration was 30 Year, with 1,932 originations. The 2nd most popular length was 15 Year, with 108 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 625 $267,355,000 $427,768
    $1k-2k 134 $43,550,000 $325,000
    $2k-3k 71 $23,735,000 $334,296
    $5k+ 50 $23,020,000 $460,400
    $3k-4k 44 $16,600,000 $377,273
    $4k-5k 22 $8,640,000 $392,727

    Wescom Central Credit Union's average total fees were $4,121, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 625 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    3-4% 650 $275,610,000 $424,015
    5-6% 508 $61,370,000 $120,807
    4-5% 348 $102,940,000 $295,805
    6-7% 347 $36,535,000 $105,288
    7-8% 121 $10,365,000 $85,661
    Over 8% 70 $4,570,000 $65,286
    2.5-3% 44 $14,800,000 $336,364

    During 2019, Wescom Central Credit Union's average interest rate for loans was 5.27%, while their most frequently originated rate bucket for loans was 3-4%, with 650 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 648 $36,210,000 $55,880 $3,129 6.32%
    $200k-400k 511 $144,115,000 $282,025 $3,905 4.44%
    $100k-200k 463 $62,775,000 $135,583 $3,342 5.56%
    $400k-600k 315 $153,965,000 $488,778 $4,230 3.90%
    $600k-1MM 144 $101,370,000 $703,958 $4,622 3.74%
    $1MM+ 7 $7,755,000 $1,107,857 $5,944 3.89%

    2019 saw Wescom Central Credit Union place emphasis on $100,000 or less loans with 648 originations, totaling $36,210,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 643 $145,095,000 $225,653 $4,168 5.26%
    $150k-250k 591 $178,585,000 $302,174 $4,158 5.12%
    $75k-100k 314 $61,700,000 $196,497 $3,822 5.02%
    $50k-75k 225 $37,685,000 $167,489 $3,659 4.93%
    $250k+ 210 $71,110,000 $338,619 $4,563 5.31%
    $50k or less 105 $12,015,000 $114,429 $3,489 4.96%

    Wescom Central Credit Union lent most frequently to those with incomes in the $100k-150k range, with 643 originations. The second most popular income band? $150k-250k, with 591 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    30-36% 381 $92,975,000 $244,029 $4,070 5.03%
    20-30% 345 $91,215,000 $264,391 $3,854 4.74%
    49% 150 $22,750,000 $151,667 $3,743 5.81%
    44% 112 $29,720,000 $265,357 $3,967 5.26%
    48% 99 $19,365,000 $195,606 $4,172 5.53%
    43% 98 $23,110,000 $235,816 $4,264 5.24%
    38% 92 $28,660,000 $311,522 $3,750 4.98%
    47% 88 $17,700,000 $201,136 $4,122 5.74%
    <20% 86 $16,540,000 $192,326 $3,762 4.79%
    42% 83 $22,095,000 $266,205 $4,450 5.08%
    46% 83 $17,745,000 $213,795 $3,807 5.28%
    41% 82 $23,770,000 $289,878 $3,555 4.99%
    36% 73 $19,615,000 $268,699 $4,821 5.19%
    39% 72 $20,860,000 $289,722 $4,590 5.10%
    37% 71 $18,605,000 $262,042 $3,742 5.12%
    45% 67 $14,455,000 $215,746 $4,310 5.20%
    40% 63 $18,745,000 $297,540 $4,778 5.07%
    50-60% 39 $6,815,000 $174,744 $4,515 5.59%
    >60% 3 $1,225,000 $408,333 $5,250 4.49%

    Wescom Central Credit Union lent most frequently to those with DTI ratios of 30-36%, with 381 originations. The next most common DTI ratio? 20-30%, with 345 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 1,027 $253,995,000 $247,317 $3,979 5.11%
    Not provided 689 $152,125,000 $220,791 $3,966 5.21%
    Asian 192 $57,410,000 $299,010 $4,502 4.97%
    Black 118 $26,110,000 $221,271 $4,023 5.20%
    American Indian 17 $4,715,000 $277,353 $5,582 5.07%
    Filipino 13 $3,445,000 $265,000 $3,569 5.60%
    Asian Indian 14 $3,400,000 $242,857 $6,956 5.39%
    Native Hawaiian or Islander 8 $1,950,000 $243,750 $4,643 5.95%
    Japanese 3 $1,195,000 $398,333 $4,163 4.25%
    Other Asian 4 $1,160,000 $290,000 $2,846 5.63%
    Other Pacific Islander 2 $600,000 $300,000 $3,464 4.50%
    Chinese 1 $85,000 $85,000 $0 6.13%

    Approval Rates

    Total approvals of all applications
    71.75%

    Wescom Central Credit Union has a below average approval rate.

    Pick Rate

    Approvals leading to origination
    64.03%

    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 2,088 $506,190,000 $242,428

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Single Family (1-4 Units):Manufactured 8 $1,030,000 $128,750
    Single Family (1-4 Units):Site-Built 2,080 $505,160,000 $242,865

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 361 $72,585,000 $201,066 $3,420 5.30%
    40-60% 218 $69,870,000 $320,505 $3,477 4.10%
    60-80% 459 $206,965,000 $450,904 $4,197 3.93%
    80-100% 182 $86,050,000 $472,802 $4,756 3.99%
    Under 20% 865 $69,455,000 $80,295 $3,312 6.22%

    Complaints

    Bank Name Product Issue 2019 CPFB Complaints % of Total Issues
    WASHINGTON FEDERAL BANK, NATIONAL ASSOCIATION Conventional home mortgage Applying for a mortgage or refinancing an existing mortgage 1 20.0%
    WASHINGTON FEDERAL BANK, NATIONAL ASSOCIATION Conventional home mortgage Trouble during payment process 3 60.0%
    WASHINGTON FEDERAL BANK, NATIONAL ASSOCIATION Other type of mortgage Trouble during payment process 1 20.0%