Central Willamette Credit Union Mortgage Rates, Fees & Info
Albany, ORLEI: 549300CPJH6JMU13EQ37
Tax ID: 93-0496543
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Mortgage Data
Review & Overview
Central Willamette Credit Union is a smaller credit union specializing in Cash Out Refi and Home Purchase loans. Central Willamette Credit Union has a high proportion of conventional loans. They have a low ratio of USDA loans. Their top markets by origination volume include: Albany, Salem, Corvallis, Bend, and Eugene among others. We have data for 10 markets. (Some data included below & more in-depth data is available with an active subscription.)Central Willamette 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. Central Willamette Credit Union is typically an average 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 |
|---|---|---|
| 30 Year Conventional Purchase | 6.66% | 12/16/24 |
| 30 Year Conventional Refi | 6.27% | 12/16/24 |
| 30 Year Cash-out Refi | 6.69% | 12/16/24 |
| 30 Year FHA Purchase | 6.27% | 12/16/24 |
| 30 Year VA Purchase | 6.73% | 12/16/24 |
| 30 Year USDA Purchase | 6.85% | 12/16/24 |
| 15 Year Conventional Purchase | 5.68% | 12/16/24 |
| 15 Year Conventional Refi | 5.93% | 12/16/24 |
| 15 Year Cash-out Refi | 5.93% | 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. | ||
Central Willamette 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
137Origination Dollar Volume (All Markets)
$28,315,000Top 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 |
|---|---|---|---|---|---|
| ALBANY-LEBANON, OR (FHA|USDA|VA) | 68 | $12,900,000 | $189,706 | $4,003 | 3.41% |
| SALEM, OR (FHA|USDA|VA) | 36 | $7,780,000 | $216,111 | $4,247 | 3.38% |
| CORVALLIS, OR (FHA|USDA|VA) | 20 | $4,080,000 | $204,000 | $4,253 | 2.99% |
| BEND, OR (FHA|USDA|VA) | 4 | $1,850,000 | $462,500 | $5,188 | 3.44% |
| EUGENE-SPRINGFIELD, OR (FHA|USDA|VA) | 3 | $825,000 | $275,000 | $4,129 | 2.75% |
| Outside of Metro Areas | 2 | $340,000 | $170,000 | $8,326 | 3.25% |
| GRANTS PASS, OR (FHA|USDA|VA) | 1 | $255,000 | $255,000 | $4,020 | 3.00% |
| Newport, OR (FHA|USDA|VA) | 1 | $135,000 | $135,000 | $0 | 4.25% |
| Klamath Falls, OR (FHA|USDA|VA) | 1 | $95,000 | $95,000 | $3,491 | 2.75% |
| Hermiston-Pendleton, OR (FHA|USDA|VA) | 1 | $55,000 | $55,000 | $475 | 4.75% |
Similar Lenders
We use machine learning to identify the top lenders compared against CENTRAL WILLAMETTE 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 | 132 | $26,730,000 | $202,500 | $3,941 | 3.35% |
| VA | 4 | $1,260,000 | $315,000 | $9,865 | 2.78% |
| USDA | 1 | $325,000 | $325,000 | $8,994 | 3.00% |
For 2021, Central Willamette Credit Union's most frequently originated type of loan was Conventional, with 132 originations. Their 2nd most popular type was VA, with 4 originations.
Loan Reason
For 2021, Central Willamette Credit Union's most frequently cited loan purpose was Cash Out Refi, with 62 originations. The 2nd most popular reason was Home Purchase, with 24 originations.
Loan Duration/Length
For 2021, Central Willamette Credit Union's most frequently cited loan duration was 30 Year, with 74 originations. The 2nd most popular length was 15 Year, with 30 originations.
Origination Fees/Closing Costs
Central Willamette Credit Union's average total fees were $5,177, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 62 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 3-4% | 45 | $10,935,000 | $243,000 |
| 2.5-3% | 38 | $7,090,000 | $186,579 |
| 4-5% | 33 | $6,135,000 | $185,909 |
| <2.5% | 21 | $4,155,000 | $197,857 |
During 2021, Central Willamette Credit Union's average interest rate for loans was 3.39%, while their most frequently originated rate bucket for loans was 3-4%, with 45 originations.
Loan Sizing
2021 saw Central Willamette Credit Union place emphasis on $100k-200k loans with 51 originations, totaling $7,735,000 in origination value.
Applicant Income
Central Willamette Credit Union lent most frequently to those with incomes in the $50k-75k range, with 35 originations. The second most popular income band? $75k-100k, with 31 originations.
Applicant Debt to Income Ratio
Central Willamette Credit Union lent most frequently to those with DTI ratios of 20-30%, with 36 originations. The next most common DTI ratio? <20%, with 22 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications84.47%
Central Willamette Credit Union has a below average approval rate.
Pick Rate
Approvals leading to origination74.45%
Central Willamette Credit Union has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 137 | $28,315,000 | $206,679 |
LTV Distribution
Complaints
| Bank Name | Product | Issue | 2021 CPFB Complaints | % of Total Issues |
|---|---|---|---|---|
| Central Mortgage Funding, LLC | Conventional home mortgage | Applying for a mortgage or refinancing an existing mortgage | 1 | 100.0% |