Bourns Employees Federal Credit Union Mortgage Rates, Fees & Info

Riverside, CA

LEI: 549300RZ68QC00DWOC19

Tax ID: 95-2452643

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
  • 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

    Bourns Employees Federal Credit Union is a smaller credit union specializing in Refi, Cash Out Refi, and Other loans. Bourns Employees Federal Credit Union has a high proportion of conventional loans. Their top markets by origination volume include: Los Angeles, Riverside, San Diego, San Francisco, and Logan among others. We have data for 27 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Bourns Employees Federal Credit Union has an above average approval rate when compared to the average across all lenders. They have a below average pick rate when compared to similar lenders. Bourns Employees 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) 6.27% 11/22/24
    30 Year Conventional Purchase 6.60% 11/22/24
    30 Year Conventional Refi 6.27% 11/22/24
    30 Year Cash-out Refi 6.43% 11/22/24
    15 Year Conventional Purchase 5.18% 11/22/24
    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.

    Bourns Employees 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 Bourns Employees 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

    195

    Origination Dollar Volume (All Markets)

    $63,355,000
    Show all (5) 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
    Los Angeles-Long Beach-Anaheim, CA (FHA|USDA|VA) 68 $26,640,000 $391,765 $3,365 2.58%
    RIVERSIDE-SAN BERNARDINO-ONTARIO, CA (FHA|USDA|VA) 78 $22,230,000 $285,000 $2,304 2.52%
    SAN DIEGO-CHULA VISTA-CARLSBAD, CA (FHA|USDA|VA) 6 $2,240,000 $373,333 $2,373 2.46%
    San Francisco-Oakland-Berkeley, CA (FHA|USDA|VA) 3 $2,105,000 $701,667 $4,144 2.92%
    LOGAN, UT-ID (FHA|USDA|VA) 6 $1,280,000 $213,333 $1,920 2.50%
    Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) 6 $1,160,000 $193,333 $2,183 2.58%
    SACRAMENTO-ROSEVILLE-FOLSOM, CA (FHA|USDA|VA) 5 $1,135,000 $227,000 $2,837 2.45%
    LAS VEGAS-HENDERSON-PARADISE, NV (FHA|USDA|VA) 3 $575,000 $191,667 $2,457 2.96%
    PHOENIX-MESA-CHANDLER, AZ (FHA|USDA|VA) 1 $515,000 $515,000 $2,409 2.38%
    OXNARD-THOUSAND OAKS-VENTURA, CA (FHA|USDA|VA) 1 $485,000 $485,000 $2,154 2.50%
    Boston-Cambridge-Newton, MA-NH (FHA|USDA|VA) 1 $465,000 $465,000 $2,182 2.75%
    Seattle-Tacoma-Bellevue, WA (FHA|USDA|VA) 1 $455,000 $455,000 $2,173 2.38%
    RENO, NV (FHA|USDA|VA) 2 $410,000 $205,000 $2,508 2.88%
    OGDEN-CLEARFIELD, UT (FHA|USDA|VA) 1 $345,000 $345,000 $2,873 2.50%
    PORTLAND-VANCOUVER-HILLSBORO, OR-WA (FHA|USDA|VA) 1 $335,000 $335,000 $2,351 3.63%
    Outside of Metro Areas 1 $335,000 $335,000 $4,911 3.00%
    LAKE HAVASU CITY-KINGMAN, AZ (FHA|USDA|VA) 1 $305,000 $305,000 $2,329 2.38%
    TUCSON, AZ (FHA|USDA|VA) 1 $285,000 $285,000 $2,264 2.75%
    JACKSONVILLE, FL (FHA|USDA|VA) 1 $285,000 $285,000 $3,875 2.38%
    Outside of Metro Areas 1 $275,000 $275,000 $2,208 2.75%
    SAN LUIS OBISPO-PASO ROBLES, CA (FHA|USDA|VA) 1 $245,000 $245,000 $7,129 2.38%
    Chicago-Naperville-Elgin, IL-IN-WI (FHA|USDA|VA) 1 $235,000 $235,000 $1,721 2.75%
    ALLENTOWN-BETHLEHEM-EASTON, PA-NJ (FHA|USDA|VA) 1 $215,000 $215,000 $2,670 2.63%
    PROVO-OREM, UT (FHA|USDA|VA) 1 $215,000 $215,000 $1,970 2.63%
    Washington-Arlington-Alexandria, DC-VA-MD-WV (FHA|USDA|VA) 1 $205,000 $205,000 $1,943 2.50%
    Pahrump, NV (FHA|USDA|VA) 1 $195,000 $195,000 $2,835 2.88%
    CINCINNATI, OH-KY-IN (FHA|USDA|VA) 1 $185,000 $185,000 $2,233 2.88%
    Bourns Employees Federal Credit Union's top markets include Los Angeles, Riverside, San Diego, San Francisco, and Logan among others.

    Their top states include:
  • California (FHA|USDA|VA)
  • Utah (FHA|USDA|VA)
  • Florida (FHA|USDA|VA)
  • Nevada (FHA|USDA|VA)
  • Arizona (FHA|USDA|VA)

    • Similar Lenders

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

    Chaffey Federal Credit Union
    Similarity Rank: 345
    ALTURA
    Similarity Rank: 628
    Christian Community Credit Union
    Similarity Rank: 716
    LONG BEACH CITY EMPLOYEES Federal Credit Union
    Similarity Rank: 1053
    FFC Mortgage Corp.
    Similarity Rank: 1428
    LA Financial Federal Credit Union
    Similarity Rank: 1677
    LONG BEACH FIREMEN S CREDIT UNION
    Similarity Rank: 1848
    SOUTHLAND CREDIT UNION
    Similarity Rank: 1974
    GLENDALE FEDERAL CREDIT UNION
    Similarity Rank: 2016
    ARROWHEAD CENTRAL CREDIT UNION
    Similarity Rank: 2282

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 195 $63,355,000 $324,897 $2,752 2.57%

    For 2020, Bourns Employees Federal Credit Union's most frequently originated type of loan was Conventional, with 195 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Refi 86 $27,230,000 $316,628 $2,373 2.55%
    Cash Out Refi 57 $17,435,000 $305,877 $2,715 2.63%
    Other 35 $12,915,000 $369,000 $3,678 2.51%
    Home Purchase 12 $4,440,000 $370,000 $3,087 2.72%
    Home Improvement 5 $1,335,000 $267,000 $2,391 2.33%

    For 2020, Bourns Employees Federal Credit Union's most frequently cited loan purpose was Refi, with 86 originations. The 2nd most popular reason was Cash Out Refi, with 57 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 130 $45,510,000 $350,077 $2,910 2.68%
    15 Year 33 $9,285,000 $281,364 $2,041 2.34%
    20 Year 20 $5,590,000 $279,500 $3,421 2.46%
    10 Year 12 $2,970,000 $247,500 $1,883 2.15%

    For 2020, Bourns Employees Federal Credit Union's most frequently cited loan duration was 30 Year, with 130 originations. The 2nd most popular length was 15 Year, with 33 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 154 $48,570,000 $315,390
    $1k-2k 22 $7,340,000 $333,636
    $5k+ 11 $4,555,000 $414,091
    $2k-3k 6 $2,250,000 $375,000
    $3k-4k 1 $395,000 $395,000
    $4k-5k 1 $245,000 $245,000

    Bourns Employees Federal Credit Union's average total fees were $2,910, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 154 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    <2.5% 101 $30,675,000 $303,713
    2.5-3% 87 $30,045,000 $345,345
    3-4% 7 $2,635,000 $376,429

    During 2020, Bourns Employees Federal Credit Union's average interest rate for loans was 2.68%, while their most frequently originated rate bucket for loans was <2.5%, with 101 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 118 $34,890,000 $295,678 $2,639 2.54%
    $400k-600k 38 $17,810,000 $468,684 $3,444 2.57%
    $100k-200k 28 $4,390,000 $156,786 $1,911 2.58%
    $600k-1MM 7 $4,985,000 $712,143 $4,981 2.93%
    $100,000 or less 3 $235,000 $78,333 $1,381 2.42%
    $1MM+ 1 $1,045,000 $1,045,000 $1,864 3.25%

    2020 saw Bourns Employees Federal Credit Union place emphasis on $200k-400k loans with 118 originations, totaling $34,890,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 70 $24,200,000 $345,714 $2,625 2.55%
    $75k-100k 44 $11,840,000 $269,091 $2,164 2.63%
    $150k-250k 33 $12,695,000 $384,697 $3,191 2.58%
    $50k-75k 22 $5,410,000 $245,909 $2,343 2.63%
    $250k+ 18 $7,760,000 $431,111 $4,486 2.43%
    $50k or less 6 $750,000 $125,000 $1,654 2.46%

    Bourns Employees Federal Credit Union lent most frequently to those with incomes in the $100k-150k range, with 70 originations. The second most popular income band? $75k-100k, with 44 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 52 $16,260,000 $312,692 $2,653 2.50%
    30-36% 49 $16,835,000 $343,571 $2,946 2.59%
    <20% 17 $5,235,000 $307,941 $2,857 2.46%
    44% 9 $2,445,000 $271,667 $2,813 2.58%
    48% 9 $3,045,000 $338,333 $1,856 2.69%
    47% 8 $2,690,000 $336,250 $2,959 2.58%
    38% 7 $3,055,000 $436,429 $4,457 2.55%
    43% 6 $1,740,000 $290,000 $2,968 2.54%
    37% 6 $1,960,000 $326,667 $2,011 2.65%
    39% 6 $1,820,000 $303,333 $2,249 2.58%
    36% 5 $1,165,000 $233,000 $2,147 2.80%
    42% 5 $1,575,000 $315,000 $2,901 2.63%
    41% 4 $1,150,000 $287,500 $2,120 2.63%
    45% 4 $1,080,000 $270,000 $1,877 2.59%
    46% 3 $885,000 $295,000 $4,385 2.79%
    49% 3 $1,175,000 $391,667 $2,895 2.50%
    40% 2 $1,240,000 $620,000 $1,219 2.81%

    Bourns Employees Federal Credit Union lent most frequently to those with DTI ratios of 20-30%, with 52 originations. The next most common DTI ratio? 30-36%, with 49 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 95 $31,125,000 $327,632 $2,614 2.58%
    Not provided 62 $19,170,000 $309,194 $3,187 2.59%
    Asian 21 $7,295,000 $347,381 $2,784 2.49%
    Asian Indian 6 $2,340,000 $390,000 $1,771 2.54%
    Black 6 $1,710,000 $285,000 $1,946 2.60%
    Other Pacific Islander 1 $475,000 $475,000 $969 2.63%
    American Indian 2 $460,000 $230,000 $2,807 2.63%
    Filipino 1 $405,000 $405,000 $1,754 2.50%
    Vietnamese 1 $375,000 $375,000 $1,569 2.25%

    Approval Rates

    Total approvals of all applications
    96.75%

    Bourns Employees Federal Credit Union has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.

    Pick Rate

    Approvals leading to origination
    84.10%

    Bourns Employees Federal Credit Union has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 195 $63,355,000 $324,897

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Single Family (1-4 Units):Site-Built 195 $63,355,000 $324,897

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 24 $5,390,000 $224,583 $2,685 2.49%
    40-60% 66 $20,000,000 $303,030 $2,629 2.52%
    60-80% 83 $30,235,000 $364,277 $2,782 2.62%
    80-100% 18 $7,260,000 $403,333 $3,379 2.67%
    Under 20% 4 $470,000 $117,500 $1,739 2.41%