Cabrillo Credit Union Mortgage Rates, Fees & Info
San Diego, CALEI: 549300MO8CQCGRFR1Y51
Tax ID: 95-1968774
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Mortgage Data
Review & Overview
Cabrillo Credit Union is a smaller credit union specializing in Home Purchase and Refi loans. Cabrillo Credit Union has a high proportion of conventional loans. Their top two markets are San Diego and Riverside .Cabrillo 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. Cabrillo 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.
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Originations
19Origination Dollar Volume (All Markets)
$5,875,000Awards
Cabrillo Credit Union - 2018
Cabrillo Credit Union is a 2018 , due to their low .
For 2018, less than of lenders were eligible for this award.
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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) | 16 | $4,660,000 | $291,250 | $4,007 | 4.69% |
| RIVERSIDE-SAN BERNARDINO-ONTARIO, CA (FHA|USDA|VA) | 3 | $1,215,000 | $405,000 | $5,425 | 4.92% |
Their top states include:
Similar Lenders
We use machine learning to identify the top lenders compared against Cabrillo 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 | 18 | $5,770,000 | $320,556 | $4,243 | 4.74% |
| HELOC | 1 | $105,000 | $105,000 | n/a | 4.50% |
For 2018, Cabrillo Credit Union's most frequently originated type of loan was Conventional, with 18 originations. Their 2nd most popular type was HELOC, with 1 originations.
Loan Reason
| Loan Reason | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Home Purchase | 11 | $3,435,000 | $312,273 | $4,787 | 4.79% |
| Refi | 8 | $2,440,000 | $305,000 | $3,389 | 4.63% |
For 2018, Cabrillo Credit Union's most frequently cited loan purpose was Home Purchase, with 11 originations. The 2nd most popular reason was Refi, with 8 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| 30 Year | 18 | $5,510,000 | $306,111 | $4,289 | 4.78% |
| 20 Year | 1 | $365,000 | $365,000 | $3,458 | 3.75% |
For 2018, Cabrillo Credit Union's most frequently cited loan duration was 30 Year, with 18 originations. The 2nd most popular length was 20 Year, with 1 originations.
Origination Fees/Closing Costs
| Origination Fee/Closing Cost | Originations | Total Value | Average Loan |
|---|---|---|---|
| $1k-2k | 17 | $5,295,000 | $311,471 |
| $3k-4k | 1 | $475,000 | $475,000 |
Cabrillo Credit Union's average total fees were $4,289, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 17 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 4-5% | 17 | $5,345,000 | $314,412 |
| 3-4% | 1 | $365,000 | $365,000 |
| 5-6% | 1 | $165,000 | $165,000 |
During 2018, Cabrillo Credit Union's average interest rate for loans was 4.78%, while their most frequently originated rate bucket for loans was 4-5%, with 17 originations.
Loan Sizing
2018 saw Cabrillo Credit Union place emphasis on $200k-400k loans with 12 originations, totaling $3,520,000 in origination value.
Applicant Income
Cabrillo Credit Union lent most frequently to those with incomes in the $50k-75k range, with 7 originations. The second most popular income band? $150k-250k, with 5 originations.
Applicant Debt to Income Ratio
Cabrillo Credit Union lent most frequently to those with DTI ratios of 30-36%, with 5 originations. The next most common DTI ratio? 37%, with 2 originations.
Ethnicity Mix
| Applicant Ethnicity | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| White | 19 | $5,875,000 | $309,211 | $4,243 | 4.72% |
Approval Rates
Total approvals of all applications85.19%
Cabrillo Credit Union has an average approval rate.
Pick Rate
Approvals leading to origination89.47%
Cabrillo Credit Union has an average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 19 | $5,875,000 | $309,211 |