Cbc Federal Credit Union Mortgage Rates, Fees & Info

Oxnard, CA

LEI: 549300ESNLIWVN3TK065

Tax ID: 95-1767367

1 stars - Updated: 6/17/24 - out of 5 stars, based on 16 reviews

Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data

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Mortgage Data

Review & Overview

Cbc Federal Credit Union is a smaller credit union specializing in Cash Out Refi and Home Purchase loans. Cbc Federal Credit Union has a high proportion of conventional loans. Their top markets by origination volume include: Oxnard, Los Angeles, San Jose, San Francisco, and Stockton among others. We have data for 16 markets. (Some data included below & more in-depth data is available with an active subscription.)

Cbc Federal 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. Cbc Federal Credit Union is typically a high 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.

Mortgage professionals: We have various tools to make your lives easier. Contact us to see how we can help with your market research, analytics or advertising needs.

SimulatedRates™

Mortgage Type
Simulated Rate Simulation Date
30 Year Conventional Purchase 5.87% 6/17/24
30 Year Conventional Refi 5.74% 6/17/24
30 Year Cash-out Refi 5.81% 6/17/24
15 Year Conventional Purchase 5.68% 6/17/24
15 Year Conventional Refi 5.75% 6/17/24
15 Year Cash-out Refi 5.75% 6/17/24
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.

Cbc Federal Credit Union Mortgage Calculator






Your Estimates

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

This is not an official calculator from Cbc Federal 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

245

Origination Dollar Volume (All Markets)

$86,125,000

Awards

CBC Federal Credit Union 30 Year Conventional Loans gold CBC Federal Credit Union 30 Year Conventional Loans bronze CBC Federal Credit Union 30 Year Conventional Loans silver
Show all (3) awards

Relative Rate

Cbc Federal Credit Union's average 30 year fixed mortgage rate was 6.16%.

The 2023 average 30 year fixed rate mortgage across all markets and lenders was 6.48%.

This yields a difference of -0.32%.

Relative Fees (Closing Costs)

Cbc Federal Credit Union's average total fees/closing costs for a 30 year fixed rate mortgage were $15,797.

The average total origination fees for 30 year fixed rate mortgages across all lenders (for all loan values, including both points & up-front fees in addition to origination fees) were $9,089.

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
OXNARD-THOUSAND OAKS-VENTURA, CA (FHA|USDA|VA) 178 $35,240,000 $197,978 $5,624 8.11%
Los Angeles-Long Beach-Anaheim, CA (FHA|USDA|VA) 35 $32,095,000 $917,000 $23,358 7.27%
SAN JOSE-SUNNYVALE-SANTA CLARA, CA (FHA|USDA|VA) 7 $6,405,000 $915,000 $20,078 7.32%
San Francisco-Oakland-Berkeley, CA (FHA|USDA|VA) 6 $4,680,000 $780,000 $18,997 7.54%
STOCKTON, CA (FHA|USDA|VA) 2 $2,080,000 $1,040,000 $13,744 6.13%
SAN DIEGO-CHULA VISTA-CARLSBAD, CA (FHA|USDA|VA) 3 $1,645,000 $548,333 $5,635 7.42%
Truckee-Grass Valley, CA (FHA|USDA|VA) 1 $795,000 $795,000 $17,258 6.38%
RIVERSIDE-SAN BERNARDINO-ONTARIO, CA (FHA|USDA|VA) 2 $660,000 $330,000 $12,978 7.25%
MODESTO, CA (FHA|USDA|VA) 1 $525,000 $525,000 $9,622 6.50%
SACRAMENTO-ROSEVILLE-FOLSOM, CA (FHA|USDA|VA) 1 $515,000 $515,000 $13,850 6.50%
FRESNO, CA (FHA|USDA|VA) 2 $510,000 $255,000 $3,974 8.13%
SANTA MARIA-SANTA BARBARA, CA (FHA|USDA|VA) 3 $365,000 $121,667 $0 8.33%
BAKERSFIELD, CA (FHA|USDA|VA) 1 $235,000 $235,000 $5,080 7.88%
Sonora, CA (FHA|USDA|VA) 1 $155,000 $155,000 $4,558 7.63%
SANTA CRUZ-WATSONVILLE, CA (FHA|USDA|VA) 1 $155,000 $155,000 $0 9.00%
CHICO, CA (FHA|USDA|VA) 1 $65,000 $65,000 $0 10.00%
Cbc Federal Credit Union's top markets include Oxnard, Los Angeles, San Jose, San Francisco, and Stockton among others.

Their top states include:
  • California (FHA|USDA|VA)
  • Similar Lenders

    We use machine learning to identify the top lenders compared against CBC Federal Credit Union based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.

    COASTHILLS
    Similarity Rank: 45
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    Similarity Rank: 72
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    SOUTHLAND CREDIT UNION
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    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    HELOC 146 $18,420,000 $126,164 n/a 8.85%
    Conventional 99 $67,705,000 $683,889 $10,822 6.53%

    For 2023, Cbc Federal Credit Union's most frequently originated type of loan was HELOC, with 146 originations. Their 2nd most popular type was Conventional, with 99 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Cash Out Refi 101 $17,875,000 $176,980 $4,886 8.30%
    Home Improvement 87 $12,315,000 $141,552 $2,723 8.42%
    Home Purchase 39 $47,525,000 $1,218,590 $19,797 6.09%
    Other 9 $1,335,000 $148,333 $0 8.58%
    Refi 9 $7,075,000 $786,111 $9,890 5.96%

    For 2023, Cbc Federal Credit Union's most frequently cited loan purpose was Cash Out Refi, with 101 originations. The 2nd most popular reason was Home Improvement, with 87 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    15 Year 175 $23,005,000 $131,457 $3,047 8.53%
    30 Year 61 $62,155,000 $1,018,934 $15,797 6.16%
    20 Year 9 $965,000 $107,222 $2,152 7.78%

    For 2023, Cbc Federal Credit Union's most frequently cited loan duration was 15 Year, with 175 originations. The 2nd most popular length was 30 Year, with 61 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $1k-2k 54 $14,930,000 $276,481
    $5k+ 37 $50,775,000 $1,372,297
    $2k-3k 5 $1,175,000 $235,000
    $3k-4k 2 $760,000 $380,000
    $<1k 1 $65,000 $65,000

    Cbc Federal Credit Union's average total fees were $15,797, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 54 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    Over 8% 138 $17,670,000 $128,043
    7-8% 42 $6,420,000 $152,857
    5-6% 36 $34,960,000 $971,111
    6-7% 26 $24,490,000 $941,923
    4-5% 3 $2,585,000 $861,667

    During 2023, Cbc Federal Credit Union's average interest rate for loans was 6.16%, while their most frequently originated rate bucket for loans was Over 8%, with 138 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 79 $4,835,000 $61,203 $2,054 8.51%
    $100k-200k 74 $10,180,000 $137,568 $2,756 8.44%
    $200k-400k 40 $10,490,000 $262,250 $3,453 8.28%
    $1MM+ 23 $41,675,000 $1,811,957 $28,080 5.86%
    $600k-1MM 15 $12,135,000 $809,000 $13,146 6.18%
    $400k-600k 14 $6,810,000 $486,429 $7,211 6.02%

    2023 saw Cbc Federal Credit Union place emphasis on $100,000 or less loans with 79 originations, totaling $4,835,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $250k+ 74 $57,850,000 $781,757 $20,647 7.48%
    $100k-150k 69 $10,175,000 $147,464 $3,492 8.18%
    $150k-250k 63 $13,855,000 $219,921 $7,461 8.24%
    $50k-75k 20 $2,310,000 $115,500 $2,726 7.59%
    $75k-100k 16 $1,760,000 $110,000 $2,488 7.83%
    $50k or less 2 $120,000 $60,000 $1,430 8.00%

    Cbc Federal Credit Union lent most frequently to those with incomes in the $250k+ range, with 74 originations. The second most popular income band? $100k-150k, with 69 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    30-36% 33 $9,435,000 $285,909 $10,054 8.03%
    20-30% 31 $6,435,000 $207,581 $5,875 7.85%
    44% 21 $6,205,000 $295,476 $6,629 8.29%
    43% 18 $7,610,000 $422,778 $15,880 8.13%
    45% 17 $8,005,000 $470,882 $14,470 7.67%
    48% 13 $7,735,000 $595,000 $21,214 7.73%
    40% 13 $2,075,000 $159,615 $4,538 8.44%
    38% 13 $3,855,000 $296,538 $8,957 7.69%
    42% 13 $7,865,000 $605,000 $19,941 7.64%
    49% 11 $3,225,000 $293,182 $18,149 8.30%
    37% 10 $3,550,000 $355,000 $6,645 7.70%
    47% 10 $1,940,000 $194,000 $7,856 8.23%
    41% 9 $4,275,000 $475,000 $10,804 7.67%
    <20% 9 $3,095,000 $343,889 $10,068 7.15%
    36% 8 $1,900,000 $237,500 $5,329 7.86%
    39% 7 $6,005,000 $857,857 $16,304 7.89%
    46% 5 $935,000 $187,000 $9,703 7.88%

    Cbc Federal Credit Union lent most frequently to those with DTI ratios of 30-36%, with 33 originations. The next most common DTI ratio? 20-30%, with 31 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 199 $68,675,000 $345,101 $11,395 7.97%
    Asian 31 $13,985,000 $451,129 $9,709 7.50%
    Black 6 $2,410,000 $401,667 $14,031 7.96%
    Not provided 3 $415,000 $138,333 $2,868 8.25%
    American Indian 3 $325,000 $108,333 $0 9.08%
    Native Hawaiian or Islander 2 $240,000 $120,000 $2,810 6.56%
    Filipino 1 $75,000 $75,000 $2,010 7.50%

    Approval Rates

    Total approvals of all applications
    81.82%

    Cbc Federal Credit Union has a below average approval rate.

    Pick Rate

    Approvals leading to origination
    55.92%

    Cbc Federal 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 245 $86,125,000 $351,531

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    245 $86,125,000 $351,531

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 28 $5,900,000 $210,714 $3,169 7.76%
    40-60% 13 $4,985,000 $383,462 $4,637 6.83%
    60-80% 25 $34,255,000 $1,370,200 $22,527 6.04%
    80-100% 18 $20,590,000 $1,143,889 $17,343 6.06%
    Under 20% 157 $17,585,000 $112,006 $2,541 8.58%