California Credit Union Mortgage Rates, Fees & Info

GLENDALE, CA

LEI: 549300I0HE5X0T5OI648

Tax ID: 95-0951410

5 stars - Updated: 6/9/24 - out of 5 stars, based on 38 reviews

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

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Mortgage Data

Review & Overview

California Credit Union is a smaller credit union specializing in Home Purchase loans. California Credit Union has a high proportion of conventional loans. Their top markets by origination volume include: San Diego, Los Angeles, Riverside, 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.)

California Credit Union has a below average approval rate when compared to the average across all lenders. They have a below average pick rate when compared to similar lenders. California 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.

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
Home Equity Line of Credit (HELOC) 4.41% 6/9/24
30 Year Conventional Purchase 5.58% 6/9/24
30 Year Conventional Refi 6.05% 6/9/24
30 Year Cash-out Refi 6.01% 6/9/24
30 Year FHA Purchase 6.88% 6/9/24
30 Year VA Refi 6.27% 6/9/24
15 Year Conventional Purchase 5.76% 6/9/24
15 Year Conventional Refi 5.85% 6/9/24
15 Year Cash-out Refi 5.85% 6/9/24
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.

California Credit Union Mortgage Calculator






Your Estimates

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

This is not an official calculator from California 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

1,480

Origination Dollar Volume (All Markets)

$541,460,000

Awards

CALIFORNIA CREDIT UNION 30 Year Conventional Loans gold CALIFORNIA CREDIT UNION 30 Year Conventional Loans gold CALIFORNIA CREDIT UNION 30 Year Conventional Loans gold CALIFORNIA CREDIT UNION 30 Year Conventional Loans silver
Show all (4) awards

Relative Rate

California Credit Union's average 30 year fixed mortgage rate was 4.99%.

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

This yields a difference of -1.49%.

Relative Fees (Closing Costs)

California Credit Union's average total fees/closing costs for a 30 year fixed rate mortgage were $731.

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
SAN DIEGO-CHULA VISTA-CARLSBAD, CA (FHA|USDA|VA) 643 $268,665,000 $417,830 $476 5.12%
Los Angeles-Long Beach-Anaheim, CA (FHA|USDA|VA) 640 $189,350,000 $295,859 $1,335 4.97%
RIVERSIDE-SAN BERNARDINO-ONTARIO, CA (FHA|USDA|VA) 99 $34,805,000 $351,566 $256 5.11%
San Francisco-Oakland-Berkeley, CA (FHA|USDA|VA) 20 $16,790,000 $839,500 $530 5.27%
STOCKTON, CA (FHA|USDA|VA) 20 $10,590,000 $529,500 $0 5.30%
OXNARD-THOUSAND OAKS-VENTURA, CA (FHA|USDA|VA) 29 $8,335,000 $287,414 $597 5.18%
SACRAMENTO-ROSEVILLE-FOLSOM, CA (FHA|USDA|VA) 11 $6,335,000 $575,909 $3 5.27%
SAN JOSE-SUNNYVALE-SANTA CLARA, CA (FHA|USDA|VA) 5 $3,795,000 $759,000 $0 5.52%
BAKERSFIELD, CA (FHA|USDA|VA) 4 $860,000 $215,000 $3,520 5.69%
SANTA MARIA-SANTA BARBARA, CA (FHA|USDA|VA) 2 $800,000 $400,000 $0 5.43%
SAN LUIS OBISPO-PASO ROBLES, CA (FHA|USDA|VA) 2 $350,000 $175,000 $0 4.49%
Outside of Metro Areas 1 $255,000 $255,000 $3,195 6.50%
Eureka-Arcata, CA (FHA|USDA|VA) 1 $185,000 $185,000 $3,676 6.00%
CHICO, CA (FHA|USDA|VA) 1 $135,000 $135,000 $0 2.99%
EL CENTRO, CA (FHA|USDA|VA) 1 $105,000 $105,000 $0 5.99%
FRESNO, CA (FHA|USDA|VA) 1 $105,000 $105,000 $0 2.99%
California Credit Union's top markets include San Diego, Los Angeles, Riverside, 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 CALIFORNIA CREDIT UNION based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.

    Los Angeles Federal Credit Union
    Similarity Rank: 72
    MISSION
    Similarity Rank: 93
    VENTURA COUNTY
    Similarity Rank: 96
    LBS FINANCIAL
    Similarity Rank: 258
    SAN DIEGO COUNTY CREDIT UNION
    Similarity Rank: 312
    SOUTHLAND CREDIT UNION
    Similarity Rank: 342
    FIRST ENTERTAINMENT
    Similarity Rank: 351
    ARROWHEAD CENTRAL CREDIT UNION
    Similarity Rank: 477
    LA Financial Federal Credit Union
    Similarity Rank: 660

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    HELOC 931 $122,105,000 $131,155 n/a 4.69%
    Conventional 549 $419,355,000 $763,852 $738 5.70%

    For 2023, California Credit Union's most frequently originated type of loan was HELOC, with 931 originations. Their 2nd most popular type was Conventional, with 549 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Improvement 705 $95,215,000 $135,057 $0 4.70%
    Home Purchase 473 $382,915,000 $809,545 $644 5.56%
    Other 191 $21,945,000 $114,895 $0 4.62%
    Cash Out Refi 70 $26,780,000 $382,571 $1,438 6.71%
    Refi 41 $14,605,000 $356,220 $514 4.79%

    For 2023, California Credit Union's most frequently cited loan purpose was Home Improvement, with 705 originations. The 2nd most popular reason was Home Purchase, with 473 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 1,444 $530,580,000 $367,438 $731 4.99%
    20 Year 29 $3,465,000 $119,483 $677 8.30%
    15 Year 3 $325,000 $108,333 $2,480 5.50%
    Other 2 $5,520,000 $2,760,000 $0 5.69%
    10 Year 1 $1,535,000 $1,535,000 $0 6.75%
    5 Year 1 $35,000 $35,000 $0 9.00%

    For 2023, California Credit Union's most frequently cited loan duration was 30 Year, with 1,444 originations. The 2nd most popular length was 20 Year, with 29 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 523 $397,435,000 $759,914
    $5k+ 12 $9,570,000 $797,500
    $1k-2k 4 $2,130,000 $532,500
    $4k-5k 3 $1,875,000 $625,000
    $2k-3k 2 $750,000 $375,000
    $3k-4k 1 $505,000 $505,000

    California Credit Union's average total fees were $731, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 523 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    5-6% 774 $293,770,000 $379,548
    2.5-3% 403 $54,445,000 $135,099
    4-5% 152 $112,310,000 $738,882
    6-7% 97 $73,095,000 $753,557
    7-8% 31 $5,625,000 $181,452
    Over 8% 23 $2,215,000 $96,304

    During 2023, California Credit Union's average interest rate for loans was 4.99%, while their most frequently originated rate bucket for loans was 5-6%, with 774 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100k-200k 477 $63,165,000 $132,421 $788 4.80%
    $100,000 or less 324 $20,790,000 $64,167 $438 4.90%
    $200k-400k 219 $55,585,000 $253,813 $1,803 4.99%
    $600k-1MM 218 $168,890,000 $774,725 $410 5.50%
    $1MM+ 127 $174,525,000 $1,374,213 $719 5.42%
    $400k-600k 115 $58,505,000 $508,739 $948 5.50%

    2023 saw California Credit Union place emphasis on $100k-200k loans with 477 originations, totaling $63,165,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $150k-250k 517 $164,435,000 $318,056 $717 4.98%
    $250k+ 385 $285,645,000 $741,935 $679 5.37%
    $100k-150k 348 $57,960,000 $166,552 $626 4.99%
    $75k-100k 142 $17,380,000 $122,394 $1,608 4.76%
    $50k-75k 63 $6,265,000 $99,444 $1,129 4.74%
    $50k or less 18 $1,410,000 $78,333 $2,716 5.22%

    California Credit Union lent most frequently to those with incomes in the $150k-250k range, with 517 originations. The second most popular income band? $250k+, with 385 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    44% 199 $24,575,000 $123,492 $0 4.92%
    30-36% 145 $20,435,000 $140,931 $0 4.69%
    20-30% 130 $19,810,000 $152,385 $0 4.52%
    45% 102 $12,000,000 $117,647 $0 4.61%
    43% 49 $7,755,000 $158,265 $0 4.38%
    42% 43 $7,175,000 $166,860 $13 4.79%
    39% 39 $5,655,000 $145,000 $0 4.70%
    41% 38 $5,490,000 $144,474 $0 4.85%
    37% 35 $5,205,000 $148,714 $0 4.58%
    38% 34 $4,290,000 $126,176 $0 4.53%
    40% 32 $3,790,000 $118,438 $0 5.15%
    <20% 29 $3,485,000 $120,172 $0 4.19%
    36% 26 $3,770,000 $145,000 $0 4.78%
    46% 17 $2,005,000 $117,941 $0 4.75%
    47% 9 $1,215,000 $135,000 $0 4.32%
    48% 5 $435,000 $87,000 $0 4.19%
    49% 3 $235,000 $78,333 $0 3.99%

    California Credit Union lent most frequently to those with DTI ratios of 44%, with 199 originations. The next most common DTI ratio? 30-36%, with 145 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    Asian 403 $248,135,000 $615,720 $404 5.24%
    White 874 $198,750,000 $227,403 $1,183 4.87%
    Not provided 106 $73,690,000 $695,189 $723 5.87%
    Black 77 $10,935,000 $142,013 $2,009 5.05%
    Not applicable 4 $5,660,000 $1,415,000 $0 6.59%
    American Indian 9 $3,345,000 $371,667 $5,992 5.42%
    Native Hawaiian or Islander 7 $945,000 $135,000 $0 5.78%

    Approval Rates

    Total approvals of all applications
    64.58%

    California Credit Union has a low approval rate. They may have poor market targeting or stringent lending standards.

    Pick Rate

    Approvals leading to origination
    67.36%

    California 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 1,480 $541,460,000 $365,851

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    1,480 $541,460,000 $365,851

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 174 $36,500,000 $209,770 $0 4.58%
    40-60% 7 $6,765,000 $966,429 $0 4.62%
    60-80% 5 $3,985,000 $797,000 $5 4.88%
    80-100% 2 $1,410,000 $705,000 $0 5.56%
    Under 20% 752 $85,860,000 $114,176 $0 4.72%