Omaha Federal Credit Union Mortgage Rates, Fees & Info
OMAHA, NELEI: 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
27Origination Dollar Volume (All Markets)
$1,505,000Top 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% |
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
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
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 applications100.00%
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 originationPoints and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| Exempt | 27 | $1,505,000 | $55,741 |