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

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

    Omaha Federal Credit Union is a smaller credit union specializing in Home Improvement and Refi 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. They have an above average pick rate when compared to similar lenders.

    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.

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    Originations

    64

    Origination Dollar Volume (All Markets)

    $3,930,000

    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) 64 $3,930,000 $61,406 $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 64 $3,930,000 $61,406 $0 0.00%

    For 2018, Omaha Federal Credit Union's most frequently originated type of loan was Conventional, with 64 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Improvement 35 $1,345,000 $38,429 $0 0.00%
    Refi 10 $870,000 $87,000 $0 0.00%
    Other 9 $435,000 $48,333 $0 0.00%
    Cash Out Refi 6 $720,000 $120,000 $0 0.00%
    Home Purchase 4 $560,000 $140,000 $0 0.00%

    For 2018, Omaha Federal Credit Union's most frequently cited loan purpose was Home Improvement, with 35 originations. The 2nd most popular reason was Refi, with 10 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 64 $3,930,000 $61,406 $0 0.00%

    For 2018, Omaha Federal Credit Union's most frequently cited loan duration was Other, with 64 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 55 $2,385,000 $43,364 $0 0.00%
    $100k-200k 6 $680,000 $113,333 $0 0.00%
    $200k-400k 3 $865,000 $288,333 $0 0.00%

    2018 saw Omaha Federal Credit Union place emphasis on $100,000 or less loans with 55 originations, totaling $2,385,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $150k-250k 14 $710,000 $50,714 $0 0.00%
    $100k-150k 13 $565,000 $43,462 $0 0.00%
    $50k-75k 11 $525,000 $47,727 $0 0.00%
    $75k-100k 10 $1,230,000 $123,000 $0 0.00%
    $50k or less 9 $365,000 $40,556 $0 0.00%

    Omaha Federal Credit Union lent most frequently to those with incomes in the $150k-250k range, with 14 originations. The second most popular income band? $100k-150k, with 13 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 64 $3,930,000 $61,406 $0 0.00%

    Omaha Federal Credit Union lent most frequently to those with DTI ratios of Exempt%, with 64 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 50 $3,070,000 $61,400 $0 0.00%
    Not applicable 7 $535,000 $76,429 $0 0.00%
    Black 7 $325,000 $46,429 $0 0.00%

    Approval Rates

    Total approvals of all applications
    98.51%

    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
    96.88%

    Omaha Federal Credit Union has an exceptionally high pick rate. They most likely have borrower friendly terms or other characteristics like being fast to close or are easy to work with.

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 64 $3,930,000 $61,406

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Single Family (1-4 Units):Manufactured 1 $25,000 $25,000
    Single Family (1-4 Units):Site-Built 63 $3,905,000 $61,984