Glendale Area Schools Credit Union Mortgage Rates, Fees & Info
GLENDALE, CALEI: 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.
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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| 30 Year Conventional Purchase | 0.97% | 11/21/24 |
| 30 Year Conventional Refi | 1.48% | 11/21/24 |
| 30 Year Cash-out Refi | 3.80% | 11/21/24 |
| 15 Year Conventional Refi | 5.79% | 11/21/24 |
| 15 Year Cash-out Refi | 5.79% | 11/21/24 |
| 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
53Origination Dollar Volume (All Markets)
$13,585,000Top 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 |
|---|---|---|---|---|---|
| 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% |
Their top states include:
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
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
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
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
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
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
Approval Rates
Total approvals of all applications96.72%
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 origination88.68%
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 |