Oklahoma Federal Credit Union Mortgage Rates, Fees & Info
Oklahoma City, OKLEI: 984500A1A8A91F8C4M93
Tax ID: 73-6094636
Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data
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Mortgage Data
Review & Overview
Oklahoma Federal Credit Union is a smaller credit union specializing in Home Purchase and Refi loans. Oklahoma Federal Credit Union has a high proportion of conventional loans. Their top two markets are Oklahoma City and Mcalester .Oklahoma Federal Credit Union has an above average approval rate when compared to the average across all lenders.
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Originations
21Origination Dollar Volume (All Markets)
$3,925,000Top 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 |
|---|---|---|---|---|---|
| OKLAHOMA CITY, OK (FHA|USDA|VA) | 15 | $2,595,000 | $173,000 | $481 | 4.86% |
| Outside of Metro Areas | 5 | $1,275,000 | $255,000 | $650 | 5.02% |
| McAlester, OK (FHA|USDA|VA) | 1 | $55,000 | $55,000 | $713 | 5.01% |
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 21 | $3,925,000 | $186,905 | $532 | 4.91% |
For 2019, Oklahoma Federal Credit Union's most frequently originated type of loan was Conventional, with 21 originations.
Loan Reason
For 2019, Oklahoma Federal Credit Union's most frequently cited loan purpose was Home Purchase, with 10 originations. The 2nd most popular reason was Refi, with 9 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Other | 18 | $3,210,000 | $178,333 | $539 | 4.93% |
| 10 Year | 2 | $680,000 | $340,000 | $656 | 4.75% |
| 5 Year | 1 | $35,000 | $35,000 | $163 | 4.76% |
For 2019, Oklahoma Federal Credit Union's most frequently cited loan duration was Other, with 18 originations. The 2nd most popular length was 10 Year, with 2 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 5-6% | 11 | $2,045,000 | $185,909 |
| 4-5% | 9 | $1,425,000 | $158,333 |
| 3-4% | 1 | $455,000 | $455,000 |
During 2019, Oklahoma Federal Credit Union's average interest rate for loans was 0.00%, while their most frequently originated rate bucket for loans was 5-6%, with 11 originations.
Loan Sizing
2019 saw Oklahoma Federal Credit Union place emphasis on $100,000 or less loans with 8 originations, totaling $390,000 in origination value.
Applicant Income
Oklahoma Federal Credit Union lent most frequently to those with incomes in the $100k-150k range, with 6 originations. The second most popular income band? $150k-250k, with 6 originations.
Applicant Debt to Income Ratio
Oklahoma Federal Credit Union lent most frequently to those with DTI ratios of 30-36%, with 8 originations. The next most common DTI ratio? 20-30%, with 3 originations.
Ethnicity Mix
| Applicant Ethnicity | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| White | 20 | $3,890,000 | $194,500 | $528 | 4.89% |
| Asian | 1 | $35,000 | $35,000 | $613 | 5.21% |
Approval Rates
Total approvals of all applications100.00%
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 originationPoints and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 21 | $3,925,000 | $186,905 |