Wescom Central Credit Union Mortgage Rates, Fees & Info
Pasadena, CALEI: 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 Refi 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 53 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 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.
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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| Home Equity Line of Credit (HELOC) | 6.56% | 4/18/24 |
| 30 Year Conventional Purchase | 5.86% | 4/18/24 |
| 30 Year Conventional Refi | 5.98% | 4/18/24 |
| 30 Year Cash-out Refi | 6.07% | 4/18/24 |
| 15 Year Conventional Purchase | 6.10% | 4/18/24 |
| 15 Year Conventional Refi | 5.63% | 4/18/24 |
| 15 Year Cash-out Refi | 5.63% | 4/18/24 |
| 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
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
2,265Origination Dollar Volume (All Markets)
$643,185,000Awards
WESCOM CENTRAL CREDIT UNION - 2020
WESCOM CENTRAL CREDIT UNION is a 2020 , due to their low .
For 2020, less than of lenders were eligible for this award.
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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) | 1,465 | $437,365,000 | $298,543 | $3,552 | 3.72% |
| RIVERSIDE-SAN BERNARDINO-ONTARIO, CA (FHA|USDA|VA) | 420 | $98,210,000 | $233,833 | $3,582 | 3.76% |
| OXNARD-THOUSAND OAKS-VENTURA, CA (FHA|USDA|VA) | 174 | $46,950,000 | $269,828 | $3,414 | 3.72% |
| SAN DIEGO-CHULA VISTA-CARLSBAD, CA (FHA|USDA|VA) | 70 | $20,800,000 | $297,143 | $4,407 | 3.81% |
| San Francisco-Oakland-Berkeley, CA (FHA|USDA|VA) | 16 | $7,460,000 | $466,250 | $4,483 | 3.63% |
| SAN LUIS OBISPO-PASO ROBLES, CA (FHA|USDA|VA) | 9 | $3,995,000 | $443,889 | $5,693 | 3.90% |
| SAN JOSE-SUNNYVALE-SANTA CLARA, CA (FHA|USDA|VA) | 7 | $2,725,000 | $389,286 | $2,891 | 3.53% |
| PHOENIX-MESA-CHANDLER, AZ (FHA|USDA|VA) | 5 | $1,945,000 | $389,000 | $4,213 | 3.48% |
| LAS VEGAS-HENDERSON-PARADISE, NV (FHA|USDA|VA) | 10 | $1,930,000 | $193,000 | $3,211 | 3.66% |
| Outside of Metro Areas | 5 | $1,755,000 | $351,000 | $4,509 | 3.35% |
| DENVER-AURORA-LAKEWOOD, CO (FHA|USDA|VA) | 4 | $1,630,000 | $407,500 | $5,493 | 3.50% |
| LAKE HAVASU CITY-KINGMAN, AZ (FHA|USDA|VA) | 7 | $1,515,000 | $216,429 | $4,349 | 3.45% |
| STOCKTON, CA (FHA|USDA|VA) | 3 | $1,475,000 | $491,667 | $5,290 | 3.08% |
| SANTA MARIA-SANTA BARBARA, CA (FHA|USDA|VA) | 8 | $1,440,000 | $180,000 | $3,411 | 3.69% |
| SACRAMENTO-ROSEVILLE-FOLSOM, CA (FHA|USDA|VA) | 7 | $1,265,000 | $180,714 | $3,428 | 4.27% |
| SANTA ROSA-PETALUMA, CA (FHA|USDA|VA) | 3 | $1,265,000 | $421,667 | $3,421 | 3.50% |
| BOISE CITY, ID (FHA|USDA|VA) | 4 | $1,190,000 | $297,500 | $4,116 | 3.53% |
| BAKERSFIELD, CA (FHA|USDA|VA) | 6 | $890,000 | $148,333 | $3,359 | 3.56% |
| VISALIA, CA (FHA|USDA|VA) | 2 | $870,000 | $435,000 | $2,657 | 3.38% |
| PORTLAND-VANCOUVER-HILLSBORO, OR-WA (FHA|USDA|VA) | 2 | $630,000 | $315,000 | $6,077 | 3.38% |
| COLUMBIA, SC (FHA|USDA|VA) | 2 | $630,000 | $315,000 | $2,649 | 3.06% |
| PRESCOTT VALLEY-PRESCOTT, AZ (FHA|USDA|VA) | 1 | $585,000 | $585,000 | $4,984 | 3.50% |
| Detroit-Warren-Dearborn, MI (FHA|USDA|VA) | 2 | $520,000 | $260,000 | $4,438 | 3.69% |
| BOWLING GREEN, KY (FHA|USDA|VA) | 1 | $425,000 | $425,000 | $7,223 | 2.99% |
| SALEM, OR (FHA|USDA|VA) | 1 | $365,000 | $365,000 | $6,137 | 3.63% |
| HUNTSVILLE, AL (FHA|USDA|VA) | 1 | $355,000 | $355,000 | $3,480 | 3.13% |
| FRESNO, CA (FHA|USDA|VA) | 2 | $350,000 | $175,000 | $2,607 | 3.75% |
| Dallas-Fort Worth-Arlington, TX (FHA|USDA|VA) | 1 | $345,000 | $345,000 | $8,990 | 2.99% |
| KANSAS CITY, MO-KS (FHA|USDA|VA) | 3 | $335,000 | $111,667 | $3,111 | 3.54% |
| ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) | 1 | $285,000 | $285,000 | $4,611 | 3.75% |
| ST. GEORGE, UT (FHA|USDA|VA) | 1 | $255,000 | $255,000 | $3,201 | 3.63% |
| URBAN HONOLULU, HI (FHA|USDA|VA) | 1 | $245,000 | $245,000 | $2,591 | 3.75% |
| Cedar City, UT (FHA|USDA|VA) | 1 | $235,000 | $235,000 | $2,715 | 3.38% |
| Hilo, HI (FHA|USDA|VA) | 1 | $195,000 | $195,000 | $4,981 | 3.99% |
| ALBUQUERQUE, NM (FHA|USDA|VA) | 1 | $195,000 | $195,000 | $2,880 | 4.25% |
| REDDING, CA (FHA|USDA|VA) | 1 | $195,000 | $195,000 | $3,978 | 3.38% |
| MEDFORD, OR (FHA|USDA|VA) | 1 | $185,000 | $185,000 | $3,093 | 3.75% |
| Kalispell, MT (FHA|USDA|VA) | 1 | $185,000 | $185,000 | $4,061 | 3.63% |
| Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) | 1 | $175,000 | $175,000 | $3,894 | 3.88% |
| VALLEJO, CA (FHA|USDA|VA) | 1 | $175,000 | $175,000 | $4,317 | 3.38% |
| HOUSTON-THE WOODLANDS-SUGAR LAND, TX (FHA|USDA|VA) | 1 | $165,000 | $165,000 | $4,923 | 3.88% |
| Brookings, OR (FHA|USDA|VA) | 1 | $165,000 | $165,000 | $3,229 | 3.13% |
| Clearlake, CA (FHA|USDA|VA) | 1 | $155,000 | $155,000 | $0 | 3.25% |
| ST. LOUIS, MO-IL (FHA|USDA|VA) | 1 | $155,000 | $155,000 | $2,640 | 3.25% |
| MCALLEN-EDINBURG-MISSION, TX (FHA|USDA|VA) | 1 | $145,000 | $145,000 | $4,280 | 3.75% |
| OKLAHOMA CITY, OK (FHA|USDA|VA) | 1 | $145,000 | $145,000 | $2,921 | 3.38% |
| New York-Newark-Jersey City, NY-NJ-PA (FHA|USDA|VA) | 1 | $135,000 | $135,000 | $3,993 | 3.63% |
| Chicago-Naperville-Elgin, IL-IN-WI (FHA|USDA|VA) | 1 | $135,000 | $135,000 | $5,344 | 3.38% |
| AUGUSTA-RICHMOND COUNTY, GA-SC (FHA|USDA|VA) | 1 | $125,000 | $125,000 | $3,682 | 3.88% |
| TUSCALOOSA, AL (FHA|USDA|VA) | 1 | $115,000 | $115,000 | $3,770 | 3.75% |
| Outside of Metro Areas | 1 | $95,000 | $95,000 | $3,145 | 3.88% |
| MODESTO, CA (FHA|USDA|VA) | 1 | $55,000 | $55,000 | $0 | 4.13% |
| Crescent City, CA (FHA|USDA|VA) | 1 | $55,000 | $55,000 | $0 | 3.25% |
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.
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Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 1,245 | $509,005,000 | $408,839 | $3,617 | 3.42% |
| HELOC | 1,020 | $134,180,000 | $131,549 | n/a | 4.09% |
For 2020, Wescom Central Credit Union's most frequently originated type of loan was Conventional, with 1,245 originations. Their 2nd most popular type was HELOC, with 1,020 originations.
Loan Reason
For 2020, Wescom Central Credit Union's most frequently cited loan purpose was Cash Out Refi, with 629 originations. The 2nd most popular reason was Home Improvement, with 542 originations.
Loan Duration/Length
For 2020, Wescom Central Credit Union's most frequently cited loan duration was 30 Year, with 1,985 originations. The 2nd most popular length was 15 Year, with 179 originations.
Origination Fees/Closing Costs
Wescom Central Credit Union's average total fees were $3,759, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 874 originations.
Interest Rates
During 2020, Wescom Central Credit Union's average interest rate for loans was 3.80%, while their most frequently originated rate bucket for loans was 3-4%, with 1,558 originations.
Loan Sizing
2020 saw Wescom Central Credit Union place emphasis on $200k-400k loans with 675 originations, totaling $190,755,000 in origination value.
Applicant Income
Wescom Central Credit Union lent most frequently to those with incomes in the $150k-250k range, with 666 originations. The second most popular income band? $100k-150k, with 621 originations.
Applicant Debt to Income Ratio
Wescom Central Credit Union lent most frequently to those with DTI ratios of 20-30%, with 453 originations. The next most common DTI ratio? 30-36%, with 425 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications77.94%
Wescom Central Credit Union has a below average approval rate.
Pick Rate
Approvals leading to origination61.55%
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 | 2,265 | $643,185,000 | $283,967 |
Occupancy Type Mix
| Dwelling Type | Originations | Total Value | Average Loan |
|---|---|---|---|
| Single Family (1-4 Units):Manufactured | 5 | $895,000 | $179,000 |
| Single Family (1-4 Units):Site-Built | 2,260 | $642,290,000 | $284,199 |
LTV Distribution
Complaints
| Bank Name | Product | Issue | 2020 CPFB Complaints | % of Total Issues |
|---|---|---|---|---|
| WASHINGTON FEDERAL BANK, NATIONAL ASSOCIATION | Conventional home mortgage | Trouble during payment process | 2 | 33.3% |
| WASHINGTON FEDERAL BANK, NATIONAL ASSOCIATION | Home equity loan or line of credit (HELOC) | Applying for a mortgage or refinancing an existing mortgage | 2 | 33.3% |
| WASHINGTON FEDERAL BANK, NATIONAL ASSOCIATION | Other type of mortgage | Closing on a mortgage | 1 | 16.7% |
| WASHINGTON FEDERAL BANK, NATIONAL ASSOCIATION | Other type of mortgage | Struggling to pay mortgage | 1 | 16.7% |