Chaffey Federal Credit Union Mortgage Rates, Fees & Info
Upland, CALEI: 967600K0JD6JIELVRF39
Tax ID: 95-2310881
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Mortgage Data
Review & Overview
Chaffey Federal Credit Union is a smaller credit union specializing in Cash Out Refi loans. Chaffey Federal Credit Union has a high proportion of conventional loans.Chaffey Federal Credit Union has an above average approval rate when compared to the average across all lenders. Chaffey Federal 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 Refi | 6.23% | 12/16/24 |
| 30 Year Cash-out Refi | 6.28% | 12/16/24 |
| 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. | ||
Chaffey Federal Credit Union Mortgage Calculator
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Originations
27Origination Dollar Volume (All Markets)
$6,835,000Top 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 |
|---|---|---|---|---|---|
| Outside of Metro Areas | 27 | $6,835,000 | $253,148 | $3,357 | 4.41% |
Their top states include:
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We use machine learning to identify the top lenders compared against Chaffey Federal Credit Union based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.
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Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 27 | $6,835,000 | $253,148 | $3,357 | 4.41% |
For 2019, Chaffey 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 | 25 | $6,505,000 | $260,200 | $3,392 | 4.58% |
| Home Improvement | 1 | $35,000 | $35,000 | $0 | 0.00% |
| Refi | 1 | $295,000 | $295,000 | $3,253 | 3.88% |
For 2019, Chaffey Federal Credit Union's most frequently cited loan purpose was Cash Out Refi, with 25 originations. The 2nd most popular reason was Home Improvement, with 1 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Other | 23 | $5,405,000 | $235,000 | $0 | 0.00% |
| 30 Year | 4 | $1,430,000 | $357,500 | $3,357 | 4.41% |
For 2019, Chaffey Federal Credit Union's most frequently cited loan duration was Other, with 23 originations. The 2nd most popular length was 30 Year, with 4 originations.
Origination Fees/Closing Costs
| Origination Fee/Closing Cost | Originations | Total Value | Average Loan |
|---|---|---|---|
| $1k-2k | 4 | $1,430,000 | $357,500 |
Chaffey Federal Credit Union's average total fees were $3,357, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 4 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 3-4% | 2 | $680,000 | $340,000 |
| 4-5% | 1 | $305,000 | $305,000 |
| 5-6% | 1 | $445,000 | $445,000 |
During 2019, Chaffey Federal Credit Union's average interest rate for loans was 4.41%, while their most frequently originated rate bucket for loans was 3-4%, with 2 originations.
Loan Sizing
2019 saw Chaffey Federal Credit Union place emphasis on $200k-400k loans with 11 originations, totaling $3,215,000 in origination value.
Applicant Income
Chaffey Federal Credit Union lent most frequently to those with incomes in the $75k-100k range, with 10 originations. The second most popular income band? $50k-75k, with 6 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| 20-30% | 2 | $680,000 | $340,000 | $3,248 | 3.94% |
| 41% | 1 | $305,000 | $305,000 | $3,549 | 4.13% |
| 42% | 1 | $445,000 | $445,000 | $3,383 | 5.63% |
Chaffey Federal Credit Union lent most frequently to those with DTI ratios of 20-30%, with 2 originations. The next most common DTI ratio? 41%, with 1 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications100.00%
Chaffey 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 |
|---|---|---|---|
| NA | 27 | $6,835,000 | $253,148 |