Omaha Federal Credit Union Mortgage Rates, Fees & Info

OMAHA, NE

LEI: 549300XBN09FJNIT5G55

Tax ID: 47-0378519

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

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Mortgage Data

Review & Overview

Omaha Federal Credit Union is a smaller credit union specializing in Cash Out Refi and Home Improvement loans. Omaha Federal Credit Union has a high proportion of conventional loans. Their top (well, only) market is Omaha.

Omaha Federal Credit Union has an above average approval rate when compared to the average across all lenders.

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Originations

27

Origination Dollar Volume (All Markets)

$1,505,000

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
OMAHA-COUNCIL BLUFFS, NE-IA (FHA|USDA|VA) 26 $1,440,000 $55,385 $0 0.00%
Outside of Metro Areas 1 $65,000 $65,000 $0 0.00%
Omaha Federal Credit Union's top markets include and Omaha among others.

Their top states include:
  • Nebraska (FHA|USDA|VA)
  • Iowa (FHA|USDA|VA)
  • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 27 $1,505,000 $55,741 $0 0.00%

    For 2023, Omaha Federal Credit Union's most frequently originated type of loan was Conventional, with 27 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Cash Out Refi 13 $955,000 $73,462 $0 0.00%
    Home Improvement 12 $480,000 $40,000 $0 0.00%
    Other 2 $70,000 $35,000 $0 0.00%

    For 2023, Omaha Federal Credit Union's most frequently cited loan purpose was Cash Out Refi, with 13 originations. The 2nd most popular reason was Home Improvement, with 12 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 27 $1,505,000 $55,741 $0 0.00%

    For 2023, Omaha Federal Credit Union's most frequently cited loan duration was Other, with 27 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 25 $1,005,000 $40,200 $0 0.00%
    $100k-200k 1 $145,000 $145,000 $0 0.00%
    $200k-400k 1 $355,000 $355,000 $0 0.00%

    2023 saw Omaha Federal Credit Union place emphasis on $100,000 or less loans with 25 originations, totaling $1,005,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 9 $805,000 $89,444 $0 0.00%
    $50k or less 5 $115,000 $23,000 $0 0.00%
    $75k-100k 5 $155,000 $31,000 $0 0.00%
    $150k-250k 4 $210,000 $52,500 $0 0.00%
    $50k-75k 3 $125,000 $41,667 $0 0.00%
    $250k+ 1 $95,000 $95,000 $0 0.00%

    Omaha Federal Credit Union lent most frequently to those with incomes in the $100k-150k range, with 9 originations. The second most popular income band? $50k or less, with 5 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 27 $1,505,000 $55,741 $0 0.00%

    Omaha Federal Credit Union lent most frequently to those with DTI ratios of Exempt%, with 27 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 24 $1,280,000 $53,333 $0 0.00%
    Asian 1 $145,000 $145,000 $0 0.00%
    Not provided 2 $80,000 $40,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    100.00%

    Omaha 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

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 27 $1,505,000 $55,741

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    27 $1,505,000 $55,741