Tinker Federal Credit Union Mortgage Rates, Fees & Info

Oklahoma City, OK

LEI: 549300PZP3UHKYJ5ET63

Tax ID: 73-0560023

5 stars - Updated: 2/26/24 - out of 5 stars, based on 39 reviews

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

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Mortgage Data

Review & Overview

Tinker Federal Credit Union is a smaller credit union specializing in Home Improvement, Home Purchase, and Refi loans. Tinker Federal Credit Union has a high proportion of conventional loans. Their top markets by origination volume include: Oklahoma City, Tulsa, Shawnee, Enid, and Stillwater among others. We have data for 19 markets. (Some data included below & more in-depth data is available with an active subscription.)

Tinker 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. Tinker Federal 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) 5.02% 2/26/24
30 Year Conventional Purchase 6.63% 2/26/24
30 Year Conventional Refi 6.46% 2/26/24
30 Year Cash-out Refi 6.75% 2/26/24
30 Year VA Purchase 6.51% 2/26/24
15 Year Conventional Purchase 6.51% 2/26/24
15 Year Conventional Refi 5.84% 2/26/24
15 Year Cash-out Refi 5.84% 2/26/24
15 Year VA Purchase 6.25% 2/26/24
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.

Tinker 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 Tinker 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

1,507

Origination Dollar Volume (All Markets)

$159,175,000

Awards

Tinker Federal Credit Union VA Loans bronze
Show all (1) awards

Relative Rate

Tinker Federal Credit Union's average 30 year fixed mortgage rate was 4.91%.

The 2022 average 30 year fixed rate mortgage across all markets and lenders was 4.76%.

This yields a difference of 0.15%.

Relative Fees (Closing Costs)

Tinker Federal Credit Union's average total fees/closing costs for a 30 year fixed rate mortgage were $4,679.

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 $4,750.

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
OKLAHOMA CITY, OK (FHA|USDA|VA) 1,195 $130,255,000 $109,000 $1,852 5.32%
TULSA, OK (FHA|USDA|VA) 99 $9,925,000 $100,253 $2,150 5.28%
Outside of Metro Areas 59 $5,005,000 $84,831 $2,411 5.14%
Shawnee, OK (FHA|USDA|VA) 50 $4,460,000 $89,200 $2,313 5.80%
ENID, OK (FHA|USDA|VA) 47 $4,065,000 $86,489 $2,714 5.43%
Stillwater, OK (FHA|USDA|VA) 13 $1,175,000 $90,385 $1,852 4.80%
Tahlequah, OK (FHA|USDA|VA) 5 $1,035,000 $207,000 $5,187 5.77%
Ada, OK (FHA|USDA|VA) 11 $875,000 $79,545 $1,895 6.42%
McAlester, OK (FHA|USDA|VA) 2 $630,000 $315,000 $4,262 5.00%
Ardmore, OK (FHA|USDA|VA) 3 $325,000 $108,333 $2,208 5.96%
Duncan, OK (FHA|USDA|VA) 3 $315,000 $105,000 $1,157 5.95%
LAWTON, OK (FHA|USDA|VA) 4 $300,000 $75,000 $1,948 5.77%
FORT SMITH, AR-OK (FHA|USDA|VA) 4 $240,000 $60,000 $1,688 6.99%
Muskogee, OK (FHA|USDA|VA) 5 $205,000 $41,000 $0 5.54%
Bartlesville, OK (FHA|USDA|VA) 3 $155,000 $51,667 $974 8.24%
Guymon, OK (FHA|USDA|VA) 1 $105,000 $105,000 $0 5.25%
Elk City, OK (FHA|USDA|VA) 1 $45,000 $45,000 $899 5.24%
Ponca City, OK (FHA|USDA|VA) 1 $35,000 $35,000 $899 5.74%
Weatherford, OK (FHA|USDA|VA) 1 $25,000 $25,000 $999 7.99%
Tinker Federal Credit Union's top markets include Oklahoma City, Tulsa, Shawnee, Enid, and Stillwater among others.

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

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

    First Oklahoma Mortgage, LLC
    Similarity Rank: 108
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    OKLAHOMA'S
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    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 1,159 $133,445,000 $115,138 $1,837 5.46%
    HELOC 327 $20,395,000 $62,370 n/a 4.99%
    VA 21 $5,335,000 $254,048 $7,650 5.18%

    For 2022, Tinker Federal Credit Union's most frequently originated type of loan was Conventional, with 1,159 originations. Their 2nd most popular type was HELOC, with 327 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Improvement 591 $32,875,000 $55,626 $703 5.74%
    Home Purchase 352 $61,660,000 $175,170 $4,088 4.98%
    Other 208 $10,840,000 $52,115 $780 6.19%
    Refi 187 $33,775,000 $180,615 $3,720 4.52%
    Cash Out Refi 169 $20,025,000 $118,491 $2,823 4.67%

    For 2022, Tinker Federal Credit Union's most frequently cited loan purpose was Home Improvement, with 591 originations. The 2nd most popular reason was Home Purchase, with 352 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    15 Year 349 $28,545,000 $81,791 $1,384 6.23%
    Other 321 $19,535,000 $60,857 $470 5.05%
    10 Year 216 $12,490,000 $57,824 $819 5.66%
    30 Year 205 $41,995,000 $204,854 $4,679 4.91%
    5 Year 188 $37,520,000 $199,574 $0 4.76%
    20 Year 170 $12,460,000 $73,294 $3,874 4.99%
    3 Year 57 $6,135,000 $107,632 $0 5.18%
    1 Year 1 $495,000 $495,000 $0 5.00%

    For 2022, Tinker Federal Credit Union's most frequently cited loan duration was 15 Year, with 349 originations. The 2nd most popular length was Other, with 321 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 763 $60,875,000 $79,784
    $1k-2k 63 $10,665,000 $169,286
    $2k-3k 35 $6,645,000 $189,857
    $3k-4k 26 $5,530,000 $212,692
    $5k+ 16 $5,080,000 $317,500
    $4k-5k 11 $2,945,000 $267,727

    Tinker Federal Credit Union's average total fees were $4,679, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 763 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    4-5% 496 $68,960,000 $139,032
    5-6% 277 $29,455,000 $106,336
    3-4% 227 $24,505,000 $107,952
    6-7% 205 $16,605,000 $81,000
    7-8% 125 $7,465,000 $59,720
    Over 8% 87 $4,175,000 $47,989
    2.5-3% 81 $6,815,000 $84,136
    <2.5% 9 $1,195,000 $132,778

    During 2022, Tinker Federal Credit Union's average interest rate for loans was 4.91%, while their most frequently originated rate bucket for loans was 4-5%, with 496 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 931 $48,075,000 $51,638 $905 5.66%
    $100k-200k 387 $54,225,000 $140,116 $3,078 4.87%
    $200k-400k 166 $45,310,000 $272,952 $5,424 4.84%
    $400k-600k 21 $9,925,000 $472,619 $6,641 4.71%
    $1MM+ 1 $1,035,000 $1,035,000 $0 4.75%
    $600k-1MM 1 $605,000 $605,000 $0 4.75%

    2022 saw Tinker Federal Credit Union place emphasis on $100,000 or less loans with 931 originations, totaling $48,075,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 355 $35,135,000 $98,972 $2,090 5.57%
    $50k-75k 259 $20,785,000 $80,251 $2,033 5.33%
    $75k-100k 236 $19,580,000 $82,966 $1,965 5.45%
    $150k-250k 228 $24,430,000 $107,149 $1,949 5.52%
    $50k or less 112 $6,610,000 $59,018 $1,485 5.18%
    $250k+ 50 $5,630,000 $112,600 $1,595 5.34%

    Tinker Federal Credit Union lent most frequently to those with incomes in the $100k-150k range, with 355 originations. The second most popular income band? $50k-75k, with 259 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 353 $32,585,000 $92,309 $1,907 5.12%
    30-36% 273 $26,105,000 $95,623 $2,157 5.48%
    <20% 147 $13,265,000 $90,238 $2,082 4.87%
    39% 52 $4,120,000 $79,231 $1,533 5.73%
    38% 49 $4,015,000 $81,939 $2,154 5.47%
    42% 47 $3,365,000 $71,596 $1,402 5.80%
    36% 47 $4,155,000 $88,404 $1,807 5.28%
    37% 47 $4,825,000 $102,660 $2,354 5.73%
    40% 47 $3,785,000 $80,532 $1,793 5.68%
    41% 44 $3,060,000 $69,545 $1,320 6.35%
    43% 40 $3,940,000 $98,500 $2,167 6.02%
    44% 32 $3,300,000 $103,125 $2,485 6.62%
    45% 30 $2,510,000 $83,667 $1,469 6.27%
    46% 16 $1,110,000 $69,375 $1,393 5.95%
    47% 14 $1,670,000 $119,286 $3,846 5.51%
    48% 12 $1,190,000 $99,167 $1,058 5.89%
    >60% 5 $695,000 $139,000 $1,976 5.28%
    49% 3 $495,000 $165,000 $1,758 6.54%

    Tinker Federal Credit Union lent most frequently to those with DTI ratios of 20-30%, with 353 originations. The next most common DTI ratio? 30-36%, with 273 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 981 $89,175,000 $90,902 $1,919 5.45%
    Not applicable 249 $44,985,000 $180,663 $0 4.88%
    American Indian 99 $8,125,000 $82,071 $1,872 5.64%
    Not provided 63 $6,915,000 $109,762 $2,302 5.00%
    Black 74 $5,650,000 $76,351 $2,270 5.51%
    Asian 35 $3,595,000 $102,714 $2,247 5.52%
    Native Hawaiian or Islander 2 $460,000 $230,000 $8,815 4.69%
    Asian Indian 1 $95,000 $95,000 $0 4.99%
    Japanese 1 $85,000 $85,000 $0 5.20%
    Other Pacific Islander 1 $55,000 $55,000 $899 10.74%
    Guamanian 1 $35,000 $35,000 $0 5.90%

    Approval Rates

    Total approvals of all applications
    85.18%

    Tinker Federal Credit Union has an average approval rate.

    Pick Rate

    Approvals leading to origination
    68.68%

    Tinker 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 1,507 $159,175,000 $105,624

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    1,507 $159,175,000 $105,624

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 333 $22,935,000 $68,874 $910 5.74%
    40-60% 139 $15,535,000 $111,763 $2,541 4.91%
    60-80% 310 $54,720,000 $176,516 $3,972 4.72%
    80-100% 220 $42,900,000 $195,000 $4,447 4.96%
    Over 100% 3 $915,000 $305,000 $15,563 5.75%
    Under 20% 502 $22,170,000 $44,163 $609 5.78%