Marion And Polk Schools Credit Union Mortgage Rates, Fees & Info

Salem, OR

LEI: 549300CDLJDN8ENOT455

Tax ID: 93-0465543

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

    Marion And Polk Schools Credit Union is a smaller credit union specializing in Home Improvement, Home Purchase, and Refi loans. Marion And Polk Schools Credit Union has a high proportion of conventional loans. Their top markets by origination volume include: Salem, Kennewick, Portland, Albany, and Ellensburg among others. We have data for 14 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Marion And Polk Schools 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. Marion And Polk Schools 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
    Home Equity Line of Credit (HELOC) 6.31% 4/22/24
    30 Year Conventional Purchase 6.45% 4/22/24
    30 Year Conventional Refi 6.33% 4/22/24
    30 Year Cash-out Refi 6.52% 4/22/24
    30 Year FHA Purchase 6.27% 4/22/24
    30 Year VA Purchase 6.27% 4/22/24
    15 Year Conventional Purchase 5.79% 4/22/24
    15 Year Conventional Refi 6.05% 4/22/24
    15 Year Cash-out Refi 6.05% 4/22/24
    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.

    Marion And Polk Schools Credit Union Mortgage Calculator






    Your Estimates

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

    This is not an official calculator from Marion And Polk Schools 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

    590

    Origination Dollar Volume (All Markets)

    $98,380,000

    Awards

    MARION AND POLK SCHOOLS CREDIT UNION 30 Year Conventional Loans gold
    Show all (1) 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
    SALEM, OR (FHA|USDA|VA) 501 $67,615,000 $134,960 $3,735 5.35%
    KENNEWICK-RICHLAND, WA (FHA|USDA|VA) 2 $9,750,000 $4,875,000 $0 2.88%
    PORTLAND-VANCOUVER-HILLSBORO, OR-WA (FHA|USDA|VA) 38 $8,800,000 $231,579 $3,313 5.00%
    ALBANY-LEBANON, OR (FHA|USDA|VA) 30 $5,130,000 $171,000 $3,428 5.05%
    Ellensburg, WA (FHA|USDA|VA) 2 $1,690,000 $845,000 $0 5.64%
    LONGVIEW, WA (FHA|USDA|VA) 2 $1,190,000 $595,000 $0 4.22%
    Roseburg, OR (FHA|USDA|VA) 1 $835,000 $835,000 $0 4.15%
    EUGENE-SPRINGFIELD, OR (FHA|USDA|VA) 2 $830,000 $415,000 $0 5.77%
    Newport, OR (FHA|USDA|VA) 3 $805,000 $268,333 $0 5.08%
    CORVALLIS, OR (FHA|USDA|VA) 2 $540,000 $270,000 $4,249 4.50%
    SAN JOSE-SUNNYVALE-SANTA CLARA, CA (FHA|USDA|VA) 3 $445,000 $148,333 $0 6.16%
    MEDFORD, OR (FHA|USDA|VA) 1 $435,000 $435,000 $5,267 3.88%
    Outside of Metro Areas 2 $280,000 $140,000 $0 6.25%
    GRANTS PASS, OR (FHA|USDA|VA) 1 $35,000 $35,000 $0 7.25%
    Marion And Polk Schools Credit Union's top markets include Salem, Kennewick, Portland, Albany, and Ellensburg among others.

    Their top states include:
  • Oregon (FHA|USDA|VA)
  • Washington (FHA|USDA|VA)
  • California (FHA|USDA|VA)

    • Similar Lenders

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

    FIRST COMMUNITY
    Similarity Rank: 96
    Citizens Bank
    Similarity Rank: 390
    OREGON COMMUNITY
    Similarity Rank: 391
    MARION AND POLK SCHOOLS CREDIT UNION
    Similarity Rank: 420
    SOVEREIGN LENDING GROUP INCORPORATED
    Similarity Rank: 1182
    OnPoint Community Credit Union
    Similarity Rank: 1184
    Columbia State Bank
    Similarity Rank: 1350
    Unitus Community Credit Union
    Similarity Rank: 1640
    Chickasaw Community Bank
    Similarity Rank: 2100
    SUMMIT MORTGAGE CORPORATION
    Similarity Rank: 2898

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    HELOC 439 $35,875,000 $81,720 n/a 5.67%
    Conventional 151 $62,505,000 $413,940 $3,711 4.23%

    For 2019, Marion And Polk Schools Credit Union's most frequently originated type of loan was HELOC, with 439 originations. Their 2nd most popular type was Conventional, with 151 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Improvement 255 $20,305,000 $79,627 $3,123 5.56%
    Other 159 $12,775,000 $80,346 $3,754 5.80%
    Home Purchase 97 $27,825,000 $286,856 $4,249 4.75%
    Cash Out Refi 45 $15,705,000 $349,000 $3,824 4.27%
    Refi 34 $21,770,000 $640,294 $2,983 4.03%

    For 2019, Marion And Polk Schools Credit Union's most frequently cited loan purpose was Home Improvement, with 255 originations. The 2nd most popular reason was Other, with 159 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 444 $36,830,000 $82,950 $5,255 5.67%
    30 Year 95 $25,825,000 $271,842 $3,421 4.16%
    10 Year 33 $29,785,000 $902,576 $0 4.32%
    15 Year 9 $2,335,000 $259,444 $3,555 3.53%
    30+ year 7 $2,975,000 $425,000 $7,844 4.32%
    20 Year 1 $295,000 $295,000 $4,751 3.88%
    3 Year 1 $335,000 $335,000 $0 6.04%

    For 2019, Marion And Polk Schools Credit Union's most frequently cited loan duration was Other, with 444 originations. The 2nd most popular length was 30 Year, with 95 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $1k-2k 58 $15,670,000 $270,172
    $<1k 40 $10,890,000 $272,250
    $2k-3k 8 $2,060,000 $257,500
    $4k-5k 5 $2,365,000 $473,000
    $3k-4k 3 $955,000 $318,333

    Marion And Polk Schools Credit Union's average total fees were $3,421, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 58 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    4-5% 218 $44,240,000 $202,936
    5-6% 191 $18,595,000 $97,356
    6-7% 101 $7,695,000 $76,188
    3-4% 53 $16,875,000 $318,396
    7-8% 24 $1,360,000 $56,667
    Over 8% 2 $100,000 $50,000
    <2.5% 1 $9,515,000 $9,515,000

    During 2019, Marion And Polk Schools Credit Union's average interest rate for loans was 4.16%, while their most frequently originated rate bucket for loans was 4-5%, with 218 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 310 $16,650,000 $53,710 $3,040 5.80%
    $100k-200k 135 $17,595,000 $130,333 $3,049 5.14%
    $200k-400k 105 $28,675,000 $273,095 $3,698 4.46%
    $400k-600k 27 $12,835,000 $475,370 $4,774 4.30%
    $600k-1MM 8 $5,530,000 $691,250 $8,730 4.28%
    $1MM+ 5 $17,095,000 $3,419,000 $0 3.78%

    2019 saw Marion And Polk Schools Credit Union place emphasis on $100,000 or less loans with 310 originations, totaling $16,650,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 146 $17,830,000 $122,123 $4,774 5.54%
    $75k-100k 130 $16,350,000 $125,769 $4,321 5.26%
    $50k-75k 120 $10,360,000 $86,333 $4,130 5.38%
    $150k-250k 61 $7,725,000 $126,639 $4,982 5.64%
    $50k or less 43 $3,065,000 $71,279 $3,456 5.38%
    $250k+ 20 $6,670,000 $333,500 $4,399 5.21%

    Marion And Polk Schools Credit Union lent most frequently to those with incomes in the $100k-150k range, with 146 originations. The second most popular income band? $75k-100k, with 130 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    30-36% 125 $18,775,000 $150,200 $3,813 5.24%
    20-30% 106 $12,570,000 $118,585 $3,464 5.22%
    42% 37 $4,095,000 $110,676 $3,789 5.36%
    40% 29 $3,245,000 $111,897 $5,047 5.57%
    41% 24 $2,180,000 $90,833 $2,631 5.74%
    49% 24 $2,060,000 $85,833 $0 5.40%
    39% 23 $2,865,000 $124,565 $2,592 5.08%
    37% 23 $2,475,000 $107,609 $4,393 5.54%
    <20% 22 $2,810,000 $127,727 $2,942 5.11%
    38% 22 $3,970,000 $180,455 $4,265 5.18%
    50-60% 20 $2,180,000 $109,000 $4,633 5.49%
    36% 19 $2,865,000 $150,789 $4,229 5.16%
    45% 17 $1,505,000 $88,529 $2,691 5.86%
    43% 14 $2,500,000 $178,571 $3,227 5.25%
    47% 14 $1,390,000 $99,286 $2,855 5.54%
    48% 13 $715,000 $55,000 $0 6.02%
    44% 13 $925,000 $71,154 $0 5.77%
    46% 7 $435,000 $62,143 $0 5.54%
    >60% 4 $700,000 $175,000 $3,829 5.78%

    Marion And Polk Schools Credit Union lent most frequently to those with DTI ratios of 30-36%, with 125 originations. The next most common DTI ratio? 20-30%, with 106 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 520 $62,620,000 $120,423 $3,704 5.38%
    Not applicable 26 $25,260,000 $971,538 $0 4.30%
    Not provided 22 $6,960,000 $316,364 $4,131 4.94%
    Asian 11 $2,175,000 $197,727 $3,028 5.14%
    American Indian 8 $960,000 $120,000 $3,706 4.97%
    Black 2 $380,000 $190,000 $4,794 4.38%
    Native Hawaiian or Islander 1 $25,000 $25,000 $0 4.50%

    Approval Rates

    Total approvals of all applications
    89.06%

    Marion And Polk Schools Credit Union has an average approval rate.

    Pick Rate

    Approvals leading to origination
    81.19%

    Marion And Polk Schools Credit Union has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    2599.0 1 $75,000 $75,000
    3397.0 1 $125,000 $125,000
    5678.0 1 $245,000 $245,000
    NA 587 $97,935,000 $166,840

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Site-Built 22 $23,630,000 $1,074,091
    Single Family (1-4 Units):Manufactured 12 $1,570,000 $130,833
    Single Family (1-4 Units):Site-Built 556 $73,180,000 $131,619

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 178 $17,980,000 $101,011 $2,886 5.58%
    40-60% 51 $10,725,000 $210,294 $3,716 4.61%
    60-80% 94 $44,810,000 $476,702 $3,978 4.32%
    80-100% 38 $11,470,000 $301,842 $3,353 4.37%
    Under 20% 229 $13,395,000 $58,493 $0 5.80%