Owensboro Federal Credit Union Mortgage Rates, Fees & Info

Owensboro, KY

LEI: 549300YJTYKNAFNH8708

Tax ID: 61-0561509

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
  • Complaints
  • 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

    Owensboro Federal Credit Union is a smaller credit union specializing in Refi loans. Owensboro Federal Credit Union has a high proportion of conventional loans. Owensboro Federal Credit Union has a high proportion of conventional loans.

    Owensboro Federal Credit Union has an above average approval rate when compared to the average across all 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

    38

    Origination Dollar Volume (All Markets)

    $3,320,000

    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
    Outside of Metro Areas 38 $3,320,000 $87,368 $0 3.14%
    Owensboro Federal Credit Union's top markets include

    Their top states include:
  • Kentucky (FHA|USDA|VA)

    • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 22 $2,240,000 $101,818 $0 3.14%
    Conventional 16 $1,080,000 $67,500 $0 0.00%

    For 2018, Owensboro Federal Credit Union's most frequently originated type of loan was Conventional, with 22 originations. Their 2nd most popular type was Conventional, with 16 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Refi 26 $2,720,000 $104,615 $0 3.16%
    Other 6 $200,000 $33,333 $0 3.00%
    Home Purchase 4 $250,000 $62,500 $0 0.00%
    Home Improvement 2 $150,000 $75,000 $0 3.00%

    For 2018, Owensboro Federal Credit Union's most frequently cited loan purpose was Refi, with 26 originations. The 2nd most popular reason was Other, with 6 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 18 $1,240,000 $68,889 $0 3.00%
    15 Year 12 $1,150,000 $95,833 $0 3.00%
    20 Year 6 $600,000 $100,000 $0 3.50%
    10 Year 2 $330,000 $165,000 $0 3.00%

    For 2018, Owensboro Federal Credit Union's most frequently cited loan duration was Other, with 18 originations. The 2nd most popular length was 15 Year, with 12 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    2.5-3% 16 $1,640,000 $102,500
    3-4% 6 $600,000 $100,000

    During 2018, Owensboro Federal Credit Union's average interest rate for loans was 0.00%, while their most frequently originated rate bucket for loans was 2.5-3%, with 16 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 27 $1,565,000 $57,963 $0 3.14%
    $100k-200k 9 $1,215,000 $135,000 $0 3.17%
    $200k-400k 2 $540,000 $270,000 $0 3.00%

    2018 saw Owensboro Federal Credit Union place emphasis on $100,000 or less loans with 27 originations, totaling $1,565,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 15 $1,225,000 $81,667 $0 3.19%
    $50k or less 11 $515,000 $46,818 $0 3.13%
    $100k-150k 6 $820,000 $136,667 $0 3.20%
    $75k-100k 3 $345,000 $115,000 $0 3.00%
    $150k-250k 2 $340,000 $170,000 $0 3.00%

    Owensboro Federal Credit Union lent most frequently to those with incomes in the $50k-75k range, with 15 originations. The second most popular income band? $50k or less, with 11 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 16 $1,080,000 $67,500 $0 0.00%
    >60% 7 $875,000 $125,000 $0 3.21%
    20-30% 5 $475,000 $95,000 $0 3.10%
    <20% 2 $220,000 $110,000 $0 3.25%
    39% 2 $120,000 $60,000 $0 3.00%
    43% 1 $25,000 $25,000 $0 3.00%
    46% 1 $85,000 $85,000 $0 3.50%
    48% 1 $135,000 $135,000 $0 3.00%
    49% 1 $145,000 $145,000 $0 3.00%
    41% 1 $35,000 $35,000 $0 3.00%
    30-36% 1 $125,000 $125,000 $0 3.00%

    Owensboro Federal Credit Union lent most frequently to those with DTI ratios of Exempt%, with 16 originations. The next most common DTI ratio? >60%, with 7 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 38 $3,320,000 $87,368 $0 3.14%

    Approval Rates

    Total approvals of all applications
    100.00%

    Owensboro 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 16 $1,080,000 $67,500
    NA 22 $2,240,000 $101,818

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Single Family (1-4 Units):Manufactured 3 $195,000 $65,000
    Single Family (1-4 Units):Site-Built 35 $3,125,000 $89,286

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 4 $260,000 $65,000 $0 3.13%
    40-60% 6 $490,000 $81,667 $0 3.00%
    60-80% 11 $1,365,000 $124,091 $0 3.23%
    80-100% 1 $125,000 $125,000 $0 3.00%

    Complaints

    Bank Name Product Issue 2018 CPFB Complaints % of Total Issues
    On Q Financial Conventional home mortgage Applying for a mortgage or refinancing an existing mortgage 1 50.0%
    On Q Financial FHA mortgage Struggling to pay mortgage 1 50.0%