Tinker Federal Credit Union Mortgage Rates, Fees & Info

Oklahoma City, OK

LEI: 549300PZP3UHKYJ5ET63

Tax ID: 73-0560023

5 stars - out of 5 stars, based on 30 reviews

2021 Data | 2020 Data | 2019 Data | 2018 Data


Overview

Tinker Federal Credit Union is a smaller credit union specializing in Cash Out Refi, Refi, and Home Purchase loans. Tinker Federal Credit Union has a high proportion of conventional loans. Their top markets include Oklahoma City, Tulsa, Shawnee, Stillwater, and Enid among others. Tinker Federal Credit Union has an average approval rate for mortages when compared nationally. They have a below average pick rate when compared to the same sample of other lendors. Tinker Federal Credit Union is typically an average fee lendor.


Originations

902

Origination Dollar Volume (All Markets)

$147,450,000

Awards

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

Relative Rate

Tinker Federal Credit Union's average 30 year fixed rate mortgage of loans were 3.27%.

The 2021 average 30 year fixed rate mortgage across all markets of loans were 3.15%.

This yields a difference of 0.12%.

Relative Fees

Tinker Federal Credit Union's average total fees for a 30 year fixed rate mortgage are $4,077.

The average total origination fees for 30 year fixed rate mortgages (for all loan values, including both points & up-front fees in addition to origination fees) are $4,750.

Top Markets

Market Originations Total Value Average Loan Average Fees Average Rate
OKLAHOMA CITY, OK (FHA|USDA|VA) 711 $125,015,000 $175,830 $2,925 3.68%
Outside of Metro Areas 51 $6,655,000 $130,490 $3,551 3.34%
TULSA, OK (FHA|USDA|VA) 51 $5,585,000 $109,510 $3,245 4.19%
Shawnee, OK (FHA|USDA|VA) 34 $3,950,000 $116,176 $3,076 3.79%
Stillwater, OK (FHA|USDA|VA) 10 $1,380,000 $138,000 $3,576 3.20%
ENID, OK (FHA|USDA|VA) 13 $1,325,000 $101,923 $2,634 4.05%
Ada, OK (FHA|USDA|VA) 9 $815,000 $90,556 $2,795 3.28%
Tahlequah, OK (FHA|USDA|VA) 4 $810,000 $202,500 $4,784 3.00%
Bartlesville, OK (FHA|USDA|VA) 3 $385,000 $128,333 $3,595 2.79%
Altus, OK (FHA|USDA|VA) 2 $290,000 $145,000 $3,526 3.38%
Ponca City, OK (FHA|USDA|VA) 4 $280,000 $70,000 $1,651 5.93%
Woodward, OK (FHA|USDA|VA) 2 $260,000 $130,000 $2,382 3.50%
Durant, OK (FHA|USDA|VA) 1 $205,000 $205,000 $3,458 2.88%
LAWTON, OK (FHA|USDA|VA) 1 $135,000 $135,000 $2,883 2.75%
McAlester, OK (FHA|USDA|VA) 2 $130,000 $65,000 $1,652 4.93%
Muskogee, OK (FHA|USDA|VA) 1 $95,000 $95,000 $2,766 3.00%
FORT SMITH, AR-OK (FHA|USDA|VA) 2 $80,000 $40,000 $2,188 3.31%
Weatherford, OK (FHA|USDA|VA) 1 $55,000 $55,000 $3,235 3.00%

Tinker Federal Credit Union's top markets include Oklahoma City, Tulsa, Shawnee, Stillwater, and Enid among others.

Product Mix

Loan Type Originations Total Value Average Loan Average Fees Average Rate
Conventional 857 $136,825,000 $159,656 $2,852 3.73%
VA 45 $10,625,000 $236,111 $5,397 2.99%

For the 2021 period, Tinker Federal Credit Union's most frequently originated loan type of loans were Conventional, with 857 originations. Their 2nd most popular type is VA, with 45 originations.

Loan Reason

Loan Reason Originations Total Value Average Loan Average Fees Average Rate
Cash Out Refi 270 $41,540,000 $153,852 $3,866 3.18%
Refi 228 $29,700,000 $130,263 $3,204 2.87%
Home Purchase 207 $65,395,000 $315,918 $3,576 3.56%
Home Improvement 125 $7,055,000 $56,440 $1,112 5.26%
Other 72 $3,760,000 $52,222 $997 5.86%

For the 2021, Tinker Federal Credit Union's most frequently cited loan purpose of loans were Cash Out Refi, with 270 originations. The 2nd most popular reason of loans were Refi, with 228 originations.

Loan Duration/Length

Loan Length Originations Total Value Average Loan Average Fees Average Rate
15 Year 329 $37,925,000 $115,274 $2,756 3.73%
30 Year 265 $46,375,000 $175,000 $4,077 3.27%
10 Year 127 $9,755,000 $76,811 $1,821 4.19%
20 Year 80 $12,080,000 $151,000 $3,695 3.05%
Other 47 $1,855,000 $39,468 $529 4.45%
3 Year 31 $3,525,000 $113,710 $0 4.97%
5 Year 22 $35,910,000 $1,632,273 $0 4.20%
1 Year 1 $25,000 $25,000 $0 4.50%

For the 2021, Tinker Federal Credit Union's most frequently cited loan length of loans were 15 Year, with 329 originations. The 2nd most popular length of loans were 30 Year, with 265 originations.

Origination Fees

Origination Fee Originations Total Value Average Loan
$<1k 573 $59,505,000 $103,848
$1k-2k 136 $20,310,000 $149,338
$2k-3k 60 $11,720,000 $195,333
$3k-4k 47 $9,785,000 $208,191
$5k+ 21 $5,845,000 $278,333

$4,077 of loans were Tinker Federal Credit Union's average total fees, while their most frequently occuring range of origination fees were in the $<1k bucket, with 573 originations.

Interest Rates

Loan Rate Originations Total Value Average Loan
3-4% 328 $79,470,000 $242,287
2.5-3% 279 $40,445,000 $144,964
<2.5% 112 $15,030,000 $134,196
4-5% 65 $6,615,000 $101,769
6-7% 41 $2,095,000 $51,098
7-8% 35 $1,615,000 $46,143
5-6% 30 $1,670,000 $55,667
Over 8% 12 $510,000 $42,500

During 2021, Tinker Federal Credit Union's average interest rate of loans were 3.27%, while their most frequently originated rate bucket of loans were 3-4%, with 328 originations.

Loan Sizing

Loan Size Originations Total Value Average Loan Average Fees Average Rate
$100,000 or less 405 $23,775,000 $58,704 $1,717 4.38%
$100k-200k 337 $48,475,000 $143,843 $3,441 3.12%
$200k-400k 149 $38,465,000 $258,154 $5,063 3.16%
$400k-600k 10 $4,350,000 $435,000 $7,310 3.38%
$1MM+ 1 $32,385,000 $32,385,000 $0 3.75%

2021 saw Tinker Federal Credit Union place emphasis on $100,000 or less loans with 405 originations, totaling $23,775,000 in origination value.

Applicant Income

Applicant Income Originations Total Value Average Loan Average Fees Average Rate
$100k-150k 230 $33,880,000 $147,304 $2,945 3.75%
$50k-75k 220 $23,800,000 $108,182 $3,005 3.53%
$75k-100k 186 $23,380,000 $125,699 $2,968 3.64%
$50k or less 122 $10,130,000 $83,033 $2,504 3.63%
$150k-250k 75 $13,405,000 $178,733 $3,731 3.62%
$250k+ 18 $3,610,000 $200,556 $3,783 3.68%

Tinker Federal Credit Union lent most frequently to those with incomes in the $100k-150k range, with 230 originations. The second most popular income band? $50k-75k, with 220 originations.

Applicant Debt to Income Ratio

DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
20-30% 264 $35,140,000 $133,106 $2,968 3.44%
30-36% 183 $24,565,000 $134,235 $3,060 3.62%
<20% 142 $16,090,000 $113,310 $2,766 3.23%
38% 32 $3,900,000 $121,875 $3,286 4.12%
36% 31 $4,045,000 $130,484 $4,063 3.41%
42% 30 $4,110,000 $137,000 $3,279 3.91%
41% 30 $2,940,000 $98,000 $2,552 4.72%
43% 28 $2,960,000 $105,714 $2,585 4.67%
37% 28 $3,730,000 $133,214 $2,910 3.59%
40% 27 $2,785,000 $103,148 $2,654 4.41%
39% 23 $3,345,000 $145,435 $3,144 3.63%
44% 17 $2,165,000 $127,353 $2,964 4.25%
45% 7 $1,055,000 $150,714 $2,940 3.36%
47% 4 $360,000 $90,000 $1,771 6.15%
46% 3 $595,000 $198,333 $5,532 3.04%
48% 1 $185,000 $185,000 $3,766 3.50%
50-60% 1 $165,000 $165,000 $4,696 3.00%
>60% 1 $245,000 $245,000 $3,110 3.50%

Tinker Federal Credit Union lent most frequently to those with DTI ratios of 20-30%, with 264 originations. The next most common DTI ratio? 30-36%, with 183 originations.

Ethnicity Mix

Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
White 666 $84,370,000 $126,682 $3,014 3.67%
Not applicable 49 $38,845,000 $792,755 $0 4.65%
Not provided 70 $10,340,000 $147,714 $3,260 3.19%
Black 49 $5,795,000 $118,265 $2,713 3.57%
American Indian 47 $5,375,000 $114,362 $2,609 4.05%
Asian 17 $2,175,000 $127,941 $2,652 3.37%
Native Hawaiian 3 $315,000 $105,000 $2,031 3.58%
Vietnamese 1 $235,000 $235,000 $6,310 2.75%

Approval Rates

Total approvals of all applications
81.86%

Tinker Federal Credit Union has a below average approval rate.

Pick Rate

Approvals leading to origination
58.92%

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 902 $147,450,000 $163,470

Occupancy Type Mix

Dwelling Type Originations Total Value Average Loan
902 $147,450,000 $163,470

LTV Distribution

Loan to Value Originations Total Value Average Loan Average Fees Average Rate
20-40% 131 $9,605,000 $73,321 $1,679 4.47%
40-60% 159 $18,605,000 $117,013 $2,805 3.11%
60-80% 321 $80,525,000 $250,857 $3,743 3.29%
80-100% 188 $34,750,000 $184,840 $4,128 3.29%
Over 100% 1 $325,000 $325,000 $12,269 3.25%
Under 20% 102 $3,640,000 $35,686 $806 5.61%

Complaints

Bank Name Product Issue 2021 CPFB Complaints % of Total Issues
Town Square Mortgage & Investments, LLC FHA mortgage Applying for a mortgage or refinancing an existing mortgage 1 100.0%