Strata Credit Union Mortgage Rates, Fees & Info

Bakersfield, CA

LEI: 549300NXYX3K4WQSGJ17

Tax ID: 95-1677890

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

    Strata Credit Union is a smaller credit union specializing in Home Improvement, Other, Cash Out Refi, and Home Purchase loans. Strata Credit Union has a high proportion of conventional loans. Their top markets by origination volume include: Bakersfield, San Luis Obispo, Fresno, Riverside, and Visalia among others. We have data for 6 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Strata 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. Strata 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.

    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
    30 Year Conventional Purchase 6.02% 5/13/24
    30 Year Conventional Refi 6.52% 5/13/24
    30 Year Cash-out Refi 6.23% 5/13/24
    15 Year Conventional Purchase 5.89% 5/13/24
    15 Year Conventional Refi 6.27% 5/13/24
    15 Year Cash-out Refi 6.27% 5/13/24
    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.

    Strata Credit Union Mortgage Calculator






    Your Estimates

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

    This is not an official calculator from Strata 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

    155

    Origination Dollar Volume (All Markets)

    $17,895,000

    Awards

    STRATA Credit Union 30 Year Conventional Loans bronze STRATA Credit Union 30 Year Conventional Loans bronze STRATA Credit Union 30 Year Conventional Loans silver
    Show all (3) 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
    BAKERSFIELD, CA (FHA|USDA|VA) 148 $15,970,000 $107,905 $1,153 5.10%
    SAN LUIS OBISPO-PASO ROBLES, CA (FHA|USDA|VA) 3 $1,385,000 $461,667 $6,320 5.71%
    FRESNO, CA (FHA|USDA|VA) 1 $305,000 $305,000 $6,039 3.75%
    RIVERSIDE-SAN BERNARDINO-ONTARIO, CA (FHA|USDA|VA) 1 $105,000 $105,000 $0 5.50%
    VISALIA, CA (FHA|USDA|VA) 1 $95,000 $95,000 $0 4.50%
    SACRAMENTO-ROSEVILLE-FOLSOM, CA (FHA|USDA|VA) 1 $35,000 $35,000 $0 6.50%
    Strata Credit Union's top markets include Bakersfield, San Luis Obispo, Fresno, Riverside, and Visalia among others.

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

    • Similar Lenders

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

    AltaOne Federal Credit Union
    Similarity Rank: 49
    SAFE 1 CREDIT UNION
    Similarity Rank: 57
    STRATA Credit Union
    Similarity Rank: 222
    VALLEY STRONG CREDIT UNION
    Similarity Rank: 464
    SCHOOLSFIRST
    Similarity Rank: 627
    PACIFIC HOME LOANS, INC.
    Similarity Rank: 712
    LOGIX FEDERAL CREDIT UNION
    Similarity Rank: 1008
    MUFG Union Bank
    Similarity Rank: 1260
    CAMPOS FINANCIAL CORP.
    Similarity Rank: 1638
    KINGS MORTGAGE SERVICES, INC.
    Similarity Rank: 1740

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 155 $17,895,000 $115,452 $1,267 5.11%

    For 2022, Strata Credit Union's most frequently originated type of loan was Conventional, with 155 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Improvement 58 $3,850,000 $66,379 $2 5.52%
    Other 58 $3,760,000 $64,828 $0 5.41%
    Cash Out Refi 20 $5,440,000 $272,000 $4,845 3.92%
    Home Purchase 13 $4,265,000 $328,077 $6,296 4.51%
    Refi 6 $580,000 $96,667 $1,642 3.69%

    For 2022, Strata Credit Union's most frequently cited loan purpose was Home Improvement, with 58 originations. The 2nd most popular reason was Other, with 58 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    20 Year 108 $7,870,000 $72,870 $153 5.47%
    30 Year 28 $8,600,000 $307,143 $5,667 4.30%
    15 Year 19 $1,425,000 $75,000 $794 4.30%

    For 2022, Strata Credit Union's most frequently cited loan duration was 20 Year, with 108 originations. The 2nd most popular length was 30 Year, with 28 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 113 $7,445,000 $65,885
    $2k-3k 8 $1,810,000 $226,250
    $3k-4k 7 $2,265,000 $323,571
    $4k-5k 3 $1,125,000 $375,000
    $1k-2k 1 $145,000 $145,000
    $5k+ 1 $765,000 $765,000

    Strata Credit Union's average total fees were $5,667, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 113 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    4-5% 65 $6,795,000 $104,538
    5-6% 42 $3,420,000 $81,429
    3-4% 20 $4,870,000 $243,500
    Over 8% 14 $1,370,000 $97,857
    6-7% 9 $465,000 $51,667
    2.5-3% 4 $830,000 $207,500
    <2.5% 1 $145,000 $145,000

    During 2022, Strata Credit Union's average interest rate for loans was 4.30%, while their most frequently originated rate bucket for loans was 4-5%, with 65 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 102 $5,680,000 $55,686 $1 5.31%
    $100k-200k 29 $3,935,000 $135,690 $1,562 5.11%
    $200k-400k 19 $5,505,000 $289,737 $5,552 4.33%
    $400k-600k 4 $2,010,000 $502,500 $7,272 3.75%
    $600k-1MM 1 $765,000 $765,000 $10,281 5.00%

    2022 saw Strata Credit Union place emphasis on $100,000 or less loans with 102 originations, totaling $5,680,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 40 $4,240,000 $106,000 $1,462 4.63%
    $100k-150k 36 $4,080,000 $113,333 $1,070 5.24%
    $75k-100k 26 $2,450,000 $94,231 $907 5.03%
    $150k-250k 25 $3,745,000 $149,800 $1,547 5.73%
    $50k or less 22 $1,770,000 $80,455 $896 4.86%
    $250k+ 6 $1,610,000 $268,333 $2,780 6.25%

    Strata Credit Union lent most frequently to those with incomes in the $50k-75k range, with 40 originations. The second most popular income band? $100k-150k, with 36 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    30-36% 28 $5,000,000 $178,571 $2,301 4.88%
    20-30% 24 $2,410,000 $100,417 $1,052 5.24%
    50-60% 13 $1,125,000 $86,538 $489 5.15%
    36% 11 $1,135,000 $103,182 $940 5.41%
    44% 11 $1,425,000 $129,545 $1,978 4.75%
    <20% 10 $1,270,000 $127,000 $1,453 5.40%
    42% 9 $1,285,000 $142,778 $1,737 5.83%
    39% 8 $960,000 $120,000 $1,411 4.84%
    48% 6 $290,000 $48,333 $0 4.67%
    43% 6 $630,000 $105,000 $782 4.67%
    38% 5 $665,000 $133,000 $1,223 5.10%
    45% 5 $385,000 $77,000 $1,088 4.35%
    40% 4 $160,000 $40,000 $0 5.16%
    46% 3 $255,000 $85,000 $0 4.83%
    41% 3 $355,000 $118,333 $2,463 5.67%
    47% 3 $255,000 $85,000 $0 6.25%
    37% 3 $115,000 $38,333 $0 5.17%
    49% 2 $110,000 $55,000 $0 5.50%
    >60% 1 $65,000 $65,000 $0 5.50%

    Strata Credit Union lent most frequently to those with DTI ratios of 30-36%, with 28 originations. The next most common DTI ratio? 20-30%, with 24 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 136 $15,840,000 $116,471 $1,308 5.12%
    Black 10 $1,060,000 $106,000 $1,211 5.06%
    Not provided 7 $815,000 $116,429 $936 4.91%
    Asian 2 $180,000 $90,000 $0 5.50%

    Approval Rates

    Total approvals of all applications
    75.00%

    Strata Credit Union has a below average approval rate.

    Pick Rate

    Approvals leading to origination
    87.74%

    Strata Credit Union has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 155 $17,895,000 $115,452

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    155 $17,895,000 $115,452

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 44 $3,860,000 $87,727 $76 5.56%
    40-60% 11 $2,005,000 $182,273 $4,029 4.16%
    60-80% 15 $4,635,000 $309,000 $5,422 3.79%
    80-100% 10 $3,470,000 $347,000 $6,383 4.38%
    Under 20% 75 $3,925,000 $52,333 $0 5.35%