Oklahoma Federal Credit Union Mortgage Rates, Fees & Info

Oklahoma City, OK

LEI: 984500A1A8A91F8C4M93

Tax ID: 73-6094636

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

    Oklahoma Federal Credit Union is a smaller credit union specializing in Cash Out Refi, Home Purchase, and Refi loans. Oklahoma Federal Credit Union has a high proportion of conventional loans.

    Oklahoma Federal Credit Union has an above average approval rate when compared to the average across all lenders. Oklahoma 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 relatively high 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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    Originations

    8

    Origination Dollar Volume (All Markets)

    $1,110,000

    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 8 $1,110,000 $138,750 $438 5.55%
    Oklahoma Federal Credit Union's top markets include

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

    • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 8 $1,110,000 $138,750 $438 5.55%

    For 2018, Oklahoma Federal Credit Union's most frequently originated type of loan was Conventional, with 8 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Cash Out Refi 3 $375,000 $125,000 $273 5.48%
    Home Purchase 2 $380,000 $190,000 $713 5.55%
    Home Improvement 2 $70,000 $35,000 $287 5.75%
    Refi 1 $285,000 $285,000 $688 5.37%

    For 2018, Oklahoma Federal Credit Union's most frequently cited loan purpose was Cash Out Refi, with 3 originations. The 2nd most popular reason was Home Purchase, with 2 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 3 $665,000 $221,667 $705 5.49%
    10 Year 2 $200,000 $100,000 $278 5.50%
    Other 2 $160,000 $80,000 $287 5.72%
    15 Year 1 $85,000 $85,000 $264 5.51%

    For 2018, Oklahoma Federal Credit Union's most frequently cited loan duration was 30 Year, with 3 originations. The 2nd most popular length was 10 Year, with 2 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    5-6% 8 $1,110,000 $138,750

    During 2018, Oklahoma Federal Credit Union's average interest rate for loans was 5.49%, while their most frequently originated rate bucket for loans was 5-6%, with 8 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100k-200k 4 $670,000 $167,500 $495 5.51%
    $100,000 or less 3 $155,000 $51,667 $279 5.67%
    $200k-400k 1 $285,000 $285,000 $688 5.37%

    2018 saw Oklahoma Federal Credit Union place emphasis on $100k-200k loans with 4 originations, totaling $670,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $150k-250k 5 $925,000 $185,000 $534 5.50%
    $100k-150k 2 $140,000 $70,000 $264 5.47%
    $75k-100k 1 $45,000 $45,000 $309 6.00%

    Oklahoma Federal Credit Union lent most frequently to those with incomes in the $150k-250k range, with 5 originations. The second most popular income band? $100k-150k, with 2 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    30-36% 5 $625,000 $125,000 $448 5.59%
    36% 1 $175,000 $175,000 $291 5.50%
    37% 1 $195,000 $195,000 $713 5.55%
    39% 1 $115,000 $115,000 $264 5.44%

    Oklahoma Federal Credit Union lent most frequently to those with DTI ratios of 30-36%, with 5 originations. The next most common DTI ratio? 36%, with 1 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 7 $1,025,000 $146,429 $463 5.56%
    Asian 1 $85,000 $85,000 $264 5.51%

    Approval Rates

    Total approvals of all applications
    100.00%

    Oklahoma 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
    NA 8 $1,110,000 $138,750

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Single Family (1-4 Units):Site-Built 8 $1,110,000 $138,750

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 1 $45,000 $45,000 $309 6.00%
    40-60% 1 $175,000 $175,000 $291 5.50%
    60-80% 2 $200,000 $100,000 $264 5.48%
    80-100% 3 $665,000 $221,667 $705 5.49%
    Under 20% 1 $25,000 $25,000 $264 5.50%