Glendale Area Schools Credit Union Mortgage Rates, Fees & Info

GLENDALE, CA

LEI: 549300YU5FXUC05UXI34

Tax ID: 95-1652351

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Mortgage Data

Review & Overview

Glendale Area Schools Credit Union is a smaller credit union specializing in Cash Out Refi and Refi loans. Glendale Area Schools Credit Union has a high proportion of conventional loans. Their top markets by origination volume include: Los Angeles, Riverside, San Diego, Sacramento, and Bakersfield among others. We have data for 5 markets. (Some data included below & more in-depth data is available with an active subscription.)

Glendale Area Schools 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. Glendale Area Schools 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.

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SimulatedRates™

Mortgage Type
Simulated Rate Simulation Date
30 Year Conventional Purchase 0.97% 10/31/24
30 Year Conventional Refi 1.48% 10/31/24
30 Year Cash-out Refi 3.80% 10/31/24
15 Year Conventional Refi 5.79% 10/31/24
15 Year Cash-out Refi 5.79% 10/31/24
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.

Glendale Area Schools Credit Union Mortgage Calculator






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The default purchase price is the median sales price across the US for 2022Q4, per FRED.


Originations

53

Origination Dollar Volume (All Markets)

$13,585,000

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
Los Angeles-Long Beach-Anaheim, CA (FHA|USDA|VA) 44 $11,960,000 $271,818 $1,801 2.72%
RIVERSIDE-SAN BERNARDINO-ONTARIO, CA (FHA|USDA|VA) 5 $795,000 $159,000 $1,122 2.77%
SAN DIEGO-CHULA VISTA-CARLSBAD, CA (FHA|USDA|VA) 1 $565,000 $565,000 $4,282 1.99%
SACRAMENTO-ROSEVILLE-FOLSOM, CA (FHA|USDA|VA) 1 $205,000 $205,000 $2,329 1.99%
BAKERSFIELD, CA (FHA|USDA|VA) 2 $60,000 $30,000 $527 3.06%
Glendale Area Schools Credit Union's top markets include Los Angeles, Riverside, San Diego, Sacramento, and Bakersfield among others.

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

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 53 $13,585,000 $256,321 $1,763 2.71%

    For 2021, Glendale Area Schools Credit Union's most frequently originated type of loan was Conventional, with 53 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Cash Out Refi 32 $9,210,000 $287,813 $1,850 2.62%
    Refi 14 $3,540,000 $252,857 $2,576 2.59%
    Home Improvement 5 $495,000 $99,000 $401 2.70%
    Home Purchase 1 $305,000 $305,000 $644 3.50%
    Other 1 $35,000 $35,000 $841 6.63%

    For 2021, Glendale Area Schools Credit Union's most frequently cited loan purpose was Cash Out Refi, with 32 originations. The 2nd most popular reason was Refi, with 14 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 23 $10,035,000 $436,304 $2,988 2.47%
    15 Year 14 $2,040,000 $145,714 $1,170 3.28%
    20 Year 13 $1,105,000 $85,000 $427 2.54%
    10 Year 3 $405,000 $135,000 $448 2.71%

    For 2021, Glendale Area Schools Credit Union's most frequently cited loan duration was 30 Year, with 23 originations. The 2nd most popular length was 15 Year, with 14 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 48 $12,310,000 $256,458
    $1k-2k 2 $800,000 $400,000

    Glendale Area Schools Credit Union's average total fees were $2,988, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 48 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    <2.5% 28 $9,230,000 $329,643
    3-4% 17 $3,375,000 $198,529
    2.5-3% 7 $945,000 $135,000
    6-7% 1 $35,000 $35,000

    During 2021, Glendale Area Schools Credit Union's average interest rate for loans was 2.47%, while their most frequently originated rate bucket for loans was <2.5%, with 28 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100k-200k 16 $2,170,000 $135,625 $1,645 2.68%
    $200k-400k 15 $4,535,000 $302,333 $2,231 2.70%
    $100,000 or less 14 $840,000 $60,000 $575 2.96%
    $400k-600k 5 $2,365,000 $473,000 $3,238 2.59%
    $1MM+ 2 $2,710,000 $1,355,000 $6,700 1.99%
    $600k-1MM 1 $965,000 $965,000 $0 1.99%

    2021 saw Glendale Area Schools Credit Union place emphasis on $100k-200k loans with 16 originations, totaling $2,170,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $150k-250k 18 $4,460,000 $247,778 $1,241 2.90%
    $100k-150k 11 $3,145,000 $285,909 $2,449 2.68%
    $75k-100k 9 $1,425,000 $158,333 $1,739 2.64%
    $50k-75k 7 $905,000 $129,286 $1,507 2.62%
    $250k+ 4 $3,350,000 $837,500 $4,548 2.46%
    $50k or less 4 $300,000 $75,000 $374 2.53%

    Glendale Area Schools Credit Union lent most frequently to those with incomes in the $150k-250k range, with 18 originations. The second most popular income band? $100k-150k, with 11 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 16 $4,630,000 $289,375 $1,965 2.72%
    <20% 6 $1,200,000 $200,000 $1,694 2.43%
    30-36% 6 $2,200,000 $366,667 $2,054 2.66%
    36% 6 $1,830,000 $305,000 $4,091 2.50%
    40% 6 $800,000 $133,333 $1,193 2.87%
    39% 3 $685,000 $228,333 $988 3.33%
    41% 2 $250,000 $125,000 $448 2.56%
    42% 2 $210,000 $105,000 $489 3.00%
    43% 2 $110,000 $55,000 $335 2.69%
    37% 1 $25,000 $25,000 $904 3.13%
    44% 1 $35,000 $35,000 $389 2.38%

    Glendale Area Schools Credit Union lent most frequently to those with DTI ratios of 20-30%, with 16 originations. The next most common DTI ratio? <20%, with 6 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 43 $11,525,000 $268,023 $1,683 2.76%
    Not provided 6 $1,500,000 $250,000 $2,896 2.37%
    Asian 3 $495,000 $165,000 $1,583 3.00%
    American Indian 1 $65,000 $65,000 $285 2.00%

    Approval Rates

    Total approvals of all applications
    96.72%

    Glendale Area Schools 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
    88.68%

    Glendale Area Schools Credit Union has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    2410.0 1 $965,000 $965,000
    3360.0 1 $335,000 $335,000
    3570.0 1 $355,000 $355,000
    3750.0 1 $1,505,000 $1,505,000
    781.0 1 $155,000 $155,000
    798.0 1 $155,000 $155,000
    982.5 1 $395,000 $395,000
    997.5 1 $395,000 $395,000
    NA 45 $9,325,000 $207,222

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    53 $13,585,000 $256,321

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 12 $3,630,000 $302,500 $2,299 2.43%
    40-60% 10 $5,180,000 $518,000 $3,132 2.65%
    60-80% 3 $1,845,000 $615,000 $3,672 2.62%
    Under 20% 28 $2,930,000 $104,643 $1,089 2.87%