Orange County’s Credit Union Mortgage Interest Rate and Cost Review

Is Orange County’s Credit Union a cheap or expensive mortgage lender? We compare the interest rates and closing costs charged by Orange County’s Credit Union with other lenders for comparable mortgages. Nationally, here is what we find:

Interest Ratelower than average (-0.16%)
Loan Related Closing Costssimilar to average (-$33)
National Rate and Closing Cost Rating(4.5)
Websitehttps://www.orangecountyscu.org

On average, Orange County’s Credit Union’s interest rates were lower than those of other lenders (-0.16%) for a comparable set of borrowers. Its average total loan related closing cost was similar to those of other lenders, with a difference of -$33. Overall, combining interest rates and closing costs we estimate that Orange County’s Credit Union tends to be a cheap lender, and give it a National Rate and Closing Costs Rating of 4.5 out of 5.0 stars.

Orange County’s Credit Union’s Rates by Area

Mortgage lenders often set different rates in different geographical markets. In particular, among the markets we track Orange County’s Credit Union was most active in:

  1. Los Angeles, CA
  2. San Diego, CA
  3. Bakersfield, CA
  4. Sacramento, CA
  5. Fresno, CA

You can click through to check out Orange County’s Credit Union’s mortgage rate competitiveness by area. Or, for our data driven ranking of all the top mortgage lenders by area, click here.

Orange County’s Credit Union’s Rates by Mortgage Type

Mortgage lenders also tend to charge different interest rates and closing costs depending on the type of mortgage. In our data, Orange County’s Credit Union originated Conforming and Jumbo mortgages for new home purchases and refinances. We breakdown its interest rate and total loan related closing cost difference relative to other lenders for comparable mortgages by type in the table below.

Purchase/Refinance:
New Purchase MortgagesConformingJumbo
Interest Rate Difference-0.09%-0.02%
Loan Related Closing Cost Difference-$375+$101
Cost Adjusted Rate Difference-0.11%-0.02%
Star Rating(4.0)(3.5)
Refinance MortgagesConformingJumbo
Interest Rate Difference-0.19%-0.03%
Loan Related Closing Cost Difference+$104-$247
Cost Adjusted Rate Difference-0.20%-0.04%
Star Rating(4.5)(3.5)

As a summary, Orange County’s Credit Union is cheap for Conforming purchase mortgages. It is similar to other lenders for Jumbo purchase mortgages. For refinancing, Orange County’s Credit Union is cheap for Conforming mortgage refinance. It is similar to other lenders for Jumbo mortgage refinance. Nevertheless, individual circumstances can matter, and we always recommend shopping among several lenders in your area before signing.

Other information about Orange County’s Credit Union:

Registered name: Orange County’s Credit Union
Registered city and state: SANTA ANA, CA, 92705
Regulator: National Credit Union Administration (NCUA)

* Source of the data is Federal Financial Institutions Examination Council (FFIEC) and is for mortgages originated in the past year. Our comparable mortgages analysis controls for Orange County’s Credit Union’s distribution of loan term (e.g. 30 year vs 15 year), loan-to-value (LTV), debt-to-income (DTI), loan amount, loan program (e.g. Conforming/FHA), loan purpose (e.g. purchase/refinance), and commuting zone. Cost adjusted rates were computed based on each percent of the loan amount in above average loan related closing costs being worth +0.15 of a percentage point in interest rate. Furthermore, the amounts are regularized using a Bayesian approach to control for small samples.