Tinker Federal Credit Union Mortgage Rates, Fees & Info

Oklahoma City, OK

LEI: 549300PZP3UHKYJ5ET63

Tax ID: 73-0560023

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

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  • SimulatedRates™
  • Mortgage Calculator

    • Mortgage Data

  • Originations
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • Complaints
  • 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

    Tinker Federal Credit Union is a smaller credit union specializing in Home Purchase and Cash Out Refi loans. Tinker Federal Credit Union has a high proportion of conventional loans. Their top markets by origination volume include: Oklahoma City, Tulsa, Enid, Shawnee, and Ada among others. We have data for 14 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.

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    SimulatedRates™

    Mortgage Type     		Simulated Rate Simulation Date
    Home Equity Line of Credit (HELOC) 5.02% 11/21/24
    30 Year Conventional Purchase 6.63% 11/21/24
    30 Year Conventional Refi 6.46% 11/21/24
    30 Year Cash-out Refi 6.75% 11/21/24
    30 Year VA Purchase 6.51% 11/21/24
    15 Year Conventional Purchase 6.51% 11/21/24
    15 Year Conventional Refi 5.84% 11/21/24
    15 Year Cash-out Refi 5.84% 11/21/24
    15 Year VA Purchase 6.25% 11/21/24
    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

    848

    Origination Dollar Volume (All Markets)

    $68,400,000

    Awards

    Tinker Federal Credit Union VA Loans gold
    Show all (1) 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
    OKLAHOMA CITY, OK (FHA|USDA|VA) 662 $55,500,000 $83,837 $1,898 5.04%
    Outside of Metro Areas 37 $2,805,000 $75,811 $2,462 5.05%
    TULSA, OK (FHA|USDA|VA) 43 $2,595,000 $60,349 $1,481 5.64%
    ENID, OK (FHA|USDA|VA) 28 $1,940,000 $69,286 $2,009 5.16%
    Shawnee, OK (FHA|USDA|VA) 30 $1,680,000 $56,000 $1,646 5.04%
    Ada, OK (FHA|USDA|VA) 14 $850,000 $60,714 $1,486 5.62%
    Stillwater, OK (FHA|USDA|VA) 9 $835,000 $92,778 $2,231 5.47%
    Tahlequah, OK (FHA|USDA|VA) 3 $575,000 $191,667 $5,229 4.63%
    Ponca City, OK (FHA|USDA|VA) 6 $560,000 $93,333 $2,344 5.87%
    McAlester, OK (FHA|USDA|VA) 6 $460,000 $76,667 $1,936 5.68%
    Weatherford, OK (FHA|USDA|VA) 2 $210,000 $105,000 $2,549 4.06%
    LAWTON, OK (FHA|USDA|VA) 3 $175,000 $58,333 $784 4.66%
    Woodward, OK (FHA|USDA|VA) 3 $115,000 $38,333 $1,334 4.95%
    Duncan, OK (FHA|USDA|VA) 2 $100,000 $50,000 $909 5.37%
    Tinker Federal Credit Union's top markets include Oklahoma City, Tulsa, Enid, Shawnee, and Ada 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.

    Tulsa Federal Credit Union
    Similarity Rank: 42
    RED CROWN
    Similarity Rank: 66
    Municipal Employees Credit Union of Oklahoma City
    Similarity Rank: 89
    WEOKIE
    Similarity Rank: 120
    First Fidelity Bank
    Similarity Rank: 180
    MORTGAGE CLEARING CORPORATION
    Similarity Rank: 192
    TRUE SKY
    Similarity Rank: 240
    Central Bank of Oklahoma
    Similarity Rank: 294
    TTCU Federal Credit Union
    Similarity Rank: 297
    Washita Mortgage, Inc.
    Similarity Rank: 564

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 819 $63,945,000 $78,077 $1,811 5.10%
    VA 29 $4,455,000 $153,621 $4,377 4.75%

    For 2018, Tinker Federal Credit Union's most frequently originated type of loan was Conventional, with 819 originations. Their 2nd most popular type was VA, with 29 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 248 $33,210,000 $133,911 $3,152 4.71%
    Home Improvement 216 $9,530,000 $44,120 $822 5.43%
    Cash Out Refi 174 $14,190,000 $81,552 $2,209 4.81%
    Other 167 $7,135,000 $42,725 $881 5.70%
    Refi 43 $4,335,000 $100,814 $3,164 4.36%

    For 2018, Tinker Federal Credit Union's most frequently cited loan purpose was Home Purchase, with 248 originations. The 2nd most popular reason was Home Improvement, with 216 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    15 Year 247 $20,755,000 $84,028 $2,045 5.55%
    10 Year 244 $12,590,000 $51,598 $931 5.15%
    30 Year 174 $25,020,000 $143,793 $3,697 4.83%
    Other 143 $5,495,000 $38,427 $688 4.64%
    20 Year 40 $4,540,000 $113,500 $3,476 4.63%

    For 2018, Tinker Federal Credit Union's most frequently cited loan duration was 15 Year, with 247 originations. The 2nd most popular length was 10 Year, with 244 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 682 $45,300,000 $66,422
    $1k-2k 81 $10,695,000 $132,037
    $2k-3k 49 $7,325,000 $149,490
    $3k-4k 12 $1,760,000 $146,667
    $4k-5k 6 $1,170,000 $195,000
    $5k+ 5 $1,445,000 $289,000

    Tinker Federal Credit Union's average total fees were $3,697, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 682 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    4-5% 286 $31,250,000 $109,266
    3-4% 213 $16,455,000 $77,254
    5-6% 163 $12,905,000 $79,172
    6-7% 90 $3,830,000 $42,556
    7-8% 74 $3,060,000 $41,351
    Over 8% 22 $900,000 $40,909

    During 2018, Tinker Federal Credit Union's average interest rate for loans was 4.83%, while their most frequently originated rate bucket for loans was 4-5%, with 286 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 636 $31,810,000 $50,016 $1,233 5.27%
    $100k-200k 158 $22,020,000 $139,367 $3,589 4.52%
    $200k-400k 51 $13,295,000 $260,686 $4,530 4.60%
    $400k-600k 3 $1,275,000 $425,000 $6,667 4.50%

    2018 saw Tinker Federal Credit Union place emphasis on $100,000 or less loans with 636 originations, totaling $31,810,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 241 $20,445,000 $84,834 $1,734 5.26%
    $50k-75k 216 $16,560,000 $76,667 $1,945 4.90%
    $75k-100k 151 $13,665,000 $90,497 $2,202 5.07%
    $50k or less 146 $8,700,000 $59,589 $2,002 4.85%
    $150k-250k 80 $7,140,000 $89,250 $1,396 5.56%
    $250k+ 13 $1,755,000 $135,000 $2,596 5.36%

    Tinker Federal Credit Union lent most frequently to those with incomes in the $100k-150k range, with 241 originations. The second most popular income band? $50k-75k, with 216 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 283 $20,755,000 $73,339 $1,798 4.91%
    30-36% 187 $14,745,000 $78,850 $1,854 5.28%
    <20% 103 $8,765,000 $85,097 $1,995 4.43%
    37% 36 $3,850,000 $106,944 $1,882 5.28%
    41% 29 $2,295,000 $79,138 $1,756 5.60%
    36% 29 $2,345,000 $80,862 $1,821 5.23%
    42% 27 $1,855,000 $68,704 $1,468 5.88%
    40% 26 $2,030,000 $78,077 $1,779 5.57%
    43% 23 $2,145,000 $93,261 $1,628 5.72%
    39% 20 $1,500,000 $75,000 $1,408 5.57%
    38% 20 $1,390,000 $69,500 $1,441 5.21%
    44% 14 $1,320,000 $94,286 $2,416 5.53%
    46% 13 $1,475,000 $113,462 $3,454 4.82%
    45% 10 $980,000 $98,000 $2,629 5.08%
    49% 9 $745,000 $82,778 $2,437 5.48%
    48% 8 $800,000 $100,000 $3,159 4.79%
    50-60% 6 $830,000 $138,333 $3,969 4.50%
    47% 4 $530,000 $132,500 $4,915 4.75%
    >60% 1 $45,000 $45,000 $2,216 6.00%

    Tinker Federal Credit Union lent most frequently to those with DTI ratios of 20-30%, with 283 originations. The next most common DTI ratio? 30-36%, with 187 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 703 $57,605,000 $81,942 $1,913 5.07%
    American Indian 47 $3,555,000 $75,638 $1,649 5.68%
    Not provided 40 $2,960,000 $74,000 $1,764 5.00%
    Black 39 $2,945,000 $75,513 $2,406 4.98%
    Asian 13 $875,000 $67,308 $1,121 4.82%
    Native Hawaiian or Islander 4 $250,000 $62,500 $1,333 5.71%
    Asian Indian 1 $135,000 $135,000 $2,215 4.75%
    Filipino 1 $75,000 $75,000 $2,593 4.13%

    Approval Rates

    Total approvals of all applications
    80.55%

    Tinker Federal Credit Union has a below average approval rate.

    Pick Rate

    Approvals leading to origination
    63.44%

    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 848 $68,400,000 $80,660

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Single Family (1-4 Units):Manufactured 6 $250,000 $41,667
    Single Family (1-4 Units):Site-Built 842 $68,150,000 $80,938

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 208 $10,700,000 $51,442 $945 5.30%
    40-60% 102 $8,790,000 $86,176 $1,774 4.58%
    60-80% 155 $18,945,000 $122,226 $3,469 4.59%
    80-100% 155 $22,135,000 $142,806 $3,529 4.82%
    Over 100% 1 $155,000 $155,000 $6,495 5.13%
    Under 20% 227 $7,675,000 $33,811 $704 5.66%

    Complaints

    Bank Name Product Issue 2018 CPFB Complaints % of Total Issues
    Town Square Mortgage & Investments, LLC FHA mortgage Applying for a mortgage or refinancing an existing mortgage 1 50.0%
    Town Square Mortgage & Investments, LLC VA mortgage Closing on a mortgage 1 50.0%