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, Cash Out Refi, 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, Corvallis, Portland, Albany, and Ellensburg among others. We have data for 11 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Marion And Polk Schools Credit Union has an above 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% 11/21/24
    30 Year Conventional Purchase 6.45% 11/21/24
    30 Year Conventional Refi 6.33% 11/21/24
    30 Year Cash-out Refi 6.52% 11/21/24
    30 Year FHA Purchase 6.27% 11/21/24
    30 Year VA Purchase 6.27% 11/21/24
    15 Year Conventional Purchase 5.79% 11/21/24
    15 Year Conventional Refi 6.05% 11/21/24
    15 Year Cash-out Refi 6.05% 11/21/24
    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

    840

    Origination Dollar Volume (All Markets)

    $170,770,000

    Awards

    MARION AND POLK SCHOOLS CREDIT UNION 30 Year Conventional Loans bronze
    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) 723 $124,615,000 $172,358 $4,007 3.53%
    CORVALLIS, OR (FHA|USDA|VA) 5 $17,235,000 $3,447,000 $5,313 3.27%
    PORTLAND-VANCOUVER-HILLSBORO, OR-WA (FHA|USDA|VA) 55 $14,375,000 $261,364 $4,325 3.71%
    ALBANY-LEBANON, OR (FHA|USDA|VA) 32 $6,340,000 $198,125 $4,345 3.93%
    Ellensburg, WA (FHA|USDA|VA) 3 $2,315,000 $771,667 $0 3.78%
    YAKIMA, WA (FHA|USDA|VA) 5 $1,975,000 $395,000 $0 3.70%
    BEND, OR (FHA|USDA|VA) 7 $1,765,000 $252,143 $5,629 3.32%
    Newport, OR (FHA|USDA|VA) 5 $985,000 $197,000 $5,625 3.35%
    Seattle-Tacoma-Bellevue, WA (FHA|USDA|VA) 1 $435,000 $435,000 $0 3.75%
    Moses Lake, WA (FHA|USDA|VA) 1 $425,000 $425,000 $0 3.63%
    EUGENE-SPRINGFIELD, OR (FHA|USDA|VA) 3 $305,000 $101,667 $3,528 3.25%
    Marion And Polk Schools Credit Union's top markets include Salem, Corvallis, Portland, Albany, and Ellensburg among others.

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

    MARION AND POLK SCHOOLS CREDIT UNION
    Similarity Rank: 748
    HERITAGE GROVE Federal Credit Union
    Similarity Rank: 1010
    CENTRAL WILLAMETTE Credit Union
    Similarity Rank: 1100
    Rivermark Community Credit Union
    Similarity Rank: 1456
    Oregon State Credit Union
    Similarity Rank: 1840
    FIRST COMMUNITY
    Similarity Rank: 1932
    OREGON COMMUNITY
    Similarity Rank: 1974
    North American Savings Bank, F.S.B.
    Similarity Rank: 2340
    OnPoint Community Credit Union
    Similarity Rank: 2380
    EAGLE HOME MORTGAGE, LLC
    Similarity Rank: 3813

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    HELOC 524 $53,830,000 $102,729 n/a 3.83%
    Conventional 316 $116,940,000 $370,063 $4,068 3.09%

    For 2021, Marion And Polk Schools Credit Union's most frequently originated type of loan was HELOC, with 524 originations. Their 2nd most popular type was Conventional, with 316 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Improvement 404 $43,520,000 $107,723 $3,850 3.76%
    Other 118 $12,750,000 $108,051 $0 3.82%
    Cash Out Refi 118 $35,200,000 $298,305 $4,210 3.10%
    Home Purchase 112 $36,290,000 $324,018 $4,258 3.43%
    Refi 88 $43,010,000 $488,750 $3,843 2.98%

    For 2021, Marion And Polk Schools Credit Union's most frequently cited loan purpose was Home Improvement, with 404 originations. The 2nd most popular reason was Other, with 118 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 493 $49,285,000 $99,970 $0 3.82%
    30 Year 186 $56,770,000 $305,215 $4,190 3.11%
    15 Year 69 $14,875,000 $215,580 $3,648 2.56%
    10 Year 47 $41,495,000 $882,872 $0 3.82%
    20 Year 43 $7,185,000 $167,093 $3,916 3.60%
    30+ year 2 $1,160,000 $580,000 $7,478 3.56%

    For 2021, Marion And Polk Schools Credit Union's most frequently cited loan duration was Other, with 493 originations. The 2nd most popular length was 30 Year, with 186 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $1k-2k 131 $30,955,000 $236,298
    $<1k 72 $23,770,000 $330,139
    $2k-3k 39 $9,865,000 $252,949
    $3k-4k 15 $5,195,000 $346,333
    $4k-5k 7 $2,735,000 $390,714
    $5k+ 2 $1,080,000 $540,000

    Marion And Polk Schools Credit Union's average total fees were $4,190, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 131 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    3-4% 490 $105,490,000 $215,286
    4-5% 166 $18,670,000 $112,470
    2.5-3% 133 $37,605,000 $282,744
    <2.5% 40 $8,280,000 $207,000
    5-6% 11 $725,000 $65,909

    During 2021, Marion And Polk Schools Credit Union's average interest rate for loans was 3.11%, while their most frequently originated rate bucket for loans was 3-4%, with 490 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 302 $17,340,000 $57,417 $3,114 3.87%
    $100k-200k 253 $34,345,000 $135,751 $3,634 3.50%
    $200k-400k 218 $61,480,000 $282,018 $4,088 3.23%
    $400k-600k 43 $19,735,000 $458,953 $5,037 3.19%
    $1MM+ 12 $29,220,000 $2,435,000 $5,991 3.64%
    $600k-1MM 12 $8,650,000 $720,833 $5,052 3.55%

    2021 saw Marion And Polk Schools Credit Union place emphasis on $100,000 or less loans with 302 originations, totaling $17,340,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 222 $34,930,000 $157,342 $4,450 3.58%
    $75k-100k 161 $22,525,000 $139,907 $4,222 3.53%
    $50k-75k 150 $21,680,000 $144,533 $4,028 3.44%
    $150k-250k 122 $20,190,000 $165,492 $4,358 3.58%
    $50k or less 58 $5,950,000 $102,586 $3,636 3.42%
    $250k+ 40 $7,340,000 $183,500 $5,523 3.88%

    Marion And Polk Schools Credit Union lent most frequently to those with incomes in the $100k-150k range, with 222 originations. The second most popular income band? $75k-100k, with 161 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 195 $33,705,000 $172,846 $3,858 3.40%
    30-36% 143 $24,495,000 $171,294 $4,257 3.55%
    <20% 67 $11,945,000 $178,284 $4,104 3.23%
    42% 38 $5,000,000 $131,579 $4,684 3.72%
    40% 32 $5,960,000 $186,250 $4,493 3.73%
    37% 31 $5,335,000 $172,097 $4,354 3.60%
    44% 29 $5,215,000 $179,828 $4,801 3.58%
    39% 29 $3,905,000 $134,655 $3,389 3.71%
    50-60% 29 $2,515,000 $86,724 $0 3.66%
    41% 28 $4,430,000 $158,214 $4,165 3.59%
    38% 26 $4,580,000 $176,154 $3,500 3.50%
    43% 26 $3,610,000 $138,846 $3,978 3.51%
    46% 24 $2,620,000 $109,167 $2,371 3.96%
    48% 22 $3,410,000 $155,000 $4,133 3.69%
    49% 18 $1,740,000 $96,667 $3,324 3.58%
    47% 15 $2,585,000 $172,333 $4,809 3.73%
    36% 15 $2,865,000 $191,000 $3,854 3.57%
    45% 13 $2,025,000 $155,769 $3,670 3.57%
    >60% 9 $1,365,000 $151,667 $0 3.50%

    Marion And Polk Schools Credit Union lent most frequently to those with DTI ratios of 20-30%, with 195 originations. The next most common DTI ratio? 30-36%, with 143 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 707 $114,555,000 $162,030 $4,060 3.54%
    Not applicable 44 $39,030,000 $887,045 $0 3.85%
    Not provided 57 $12,105,000 $212,368 $4,167 3.41%
    Asian 18 $3,350,000 $186,111 $4,029 3.61%
    American Indian 5 $905,000 $181,000 $4,965 3.45%
    Black 7 $705,000 $100,714 $3,232 3.77%
    Native Hawaiian 1 $75,000 $75,000 $0 3.50%
    Native Hawaiian or Islander 1 $45,000 $45,000 $0 4.75%

    Approval Rates

    Total approvals of all applications
    94.87%

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

    Pick Rate

    Approvals leading to origination
    81.07%

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

    Points and Fees

    Points Originations Total Value Average Loan
    NA 840 $170,770,000 $203,298

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    840 $170,770,000 $203,298

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 217 $33,355,000 $153,710 $3,558 3.61%
    40-60% 123 $30,105,000 $244,756 $3,885 3.22%
    60-80% 139 $67,465,000 $485,360 $4,414 3.23%
    80-100% 54 $19,990,000 $370,185 $4,177 3.16%
    Under 20% 307 $19,855,000 $64,674 $3,253 3.85%