Pelican State Credit Union Mortgage Rates, Fees & Info
Baton Rouge, LALEI: 25490058TX0QV62WQ461
Tax ID: 72-0498240
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Mortgage Data
Review & Overview
Pelican State Credit Union is a smaller credit union specializing in Home Purchase, Cash Out Refi, and Refi loans. Pelican State Credit Union has a high proportion of conventional loans. Their top markets by origination volume include: Baton Rouge, New Orleans, Alexandria, Lafayette, and Hammond among others. We have data for 19 markets. (Some data included below & more in-depth data is available with an active subscription.)Pelican State Credit Union has an above average approval rate when compared to the average across all lenders. They have an above average pick rate when compared to similar lenders. Pelican State 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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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| 30 Year Conventional Purchase | 6.93% | 11/22/24 |
| 30 Year Conventional Refi | 6.73% | 11/22/24 |
| 30 Year Cash-out Refi | 6.84% | 11/22/24 |
| 15 Year Conventional Purchase | 9.30% | 11/22/24 |
| 15 Year Conventional Refi | 8.59% | 11/22/24 |
| 15 Year Cash-out Refi | 8.59% | 11/22/24 |
| 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. | ||
Pelican State Credit Union Mortgage Calculator
Your Estimates
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
438Origination Dollar Volume (All Markets)
$49,580,000Awards
Pelican State Credit Union - 2022
Pelican State Credit Union is a 2022 , due to their low .
For 2022, less than of lenders were eligible for this award.
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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 |
|---|---|---|---|---|---|
| BATON ROUGE, LA (FHA|USDA|VA) | 207 | $25,885,000 | $125,048 | $3,169 | 6.55% |
| NEW ORLEANS-METAIRIE, LA (FHA|USDA|VA) | 42 | $6,090,000 | $145,000 | $3,595 | 6.77% |
| ALEXANDRIA, LA (FHA|USDA|VA) | 29 | $3,045,000 | $105,000 | $2,954 | 5.85% |
| LAFAYETTE, LA (FHA|USDA|VA) | 26 | $2,670,000 | $102,692 | $2,935 | 5.92% |
| HAMMOND, LA (FHA|USDA|VA) | 25 | $2,445,000 | $97,800 | $2,832 | 6.57% |
| LAKE CHARLES, LA (FHA|USDA|VA) | 24 | $2,280,000 | $95,000 | $2,791 | 6.48% |
| Opelousas, LA (FHA|USDA|VA) | 27 | $2,185,000 | $80,926 | $2,521 | 6.06% |
| Outside of Metro Areas | 23 | $1,805,000 | $78,478 | $2,793 | 6.17% |
| MONROE, LA (FHA|USDA|VA) | 7 | $645,000 | $92,143 | $3,009 | 5.08% |
| SHREVEPORT-BOSSIER CITY, LA (FHA|USDA|VA) | 6 | $550,000 | $91,667 | $2,575 | 5.82% |
| HOUMA-THIBODAUX, LA (FHA|USDA|VA) | 5 | $505,000 | $101,000 | $2,785 | 6.20% |
| MEMPHIS, TN-MS-AR (FHA|USDA|VA) | 1 | $285,000 | $285,000 | $5,072 | 4.75% |
| Natchez, MS-LA (FHA|USDA|VA) | 6 | $280,000 | $46,667 | $2,096 | 7.33% |
| JACKSON, MS (FHA|USDA|VA) | 2 | $270,000 | $135,000 | $3,286 | 8.40% |
| DeRidder, LA (FHA|USDA|VA) | 2 | $230,000 | $115,000 | $3,909 | 8.44% |
| Picayune, MS (FHA|USDA|VA) | 2 | $210,000 | $105,000 | $2,573 | 6.85% |
| Jennings, LA (FHA|USDA|VA) | 1 | $105,000 | $105,000 | $3,338 | 4.40% |
| Natchitoches, LA (FHA|USDA|VA) | 2 | $60,000 | $30,000 | $1,945 | 7.50% |
| Bogalusa, LA (FHA|USDA|VA) | 1 | $35,000 | $35,000 | $1,794 | 8.25% |
Similar Lenders
We use machine learning to identify the top lenders compared against Pelican State 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 | 425 | $48,215,000 | $113,447 | $3,025 | 6.41% |
| HELOC | 13 | $1,365,000 | $105,000 | n/a | 6.94% |
For 2022, Pelican State Credit Union's most frequently originated type of loan was Conventional, with 425 originations. Their 2nd most popular type was HELOC, with 13 originations.
Loan Reason
For 2022, Pelican State Credit Union's most frequently cited loan purpose was Home Purchase, with 179 originations. The 2nd most popular reason was Cash Out Refi, with 158 originations.
Loan Duration/Length
For 2022, Pelican State Credit Union's most frequently cited loan duration was 20 Year, with 145 originations. The 2nd most popular length was 15 Year, with 143 originations.
Origination Fees/Closing Costs
Pelican State Credit Union's average total fees were $4,410, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 217 originations.
Interest Rates
During 2022, Pelican State Credit Union's average interest rate for loans was 5.18%, while their most frequently originated rate bucket for loans was Over 8%, with 98 originations.
Loan Sizing
2022 saw Pelican State Credit Union place emphasis on $100,000 or less loans with 250 originations, totaling $12,840,000 in origination value.
Applicant Income
Pelican State Credit Union lent most frequently to those with incomes in the $100k-150k range, with 101 originations. The second most popular income band? $75k-100k, with 89 originations.
Applicant Debt to Income Ratio
Pelican State Credit Union lent most frequently to those with DTI ratios of 20-30%, with 115 originations. The next most common DTI ratio? 30-36%, with 79 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications91.68%
Pelican State Credit Union has an average approval rate.
Pick Rate
Approvals leading to origination97.03%
Pelican State Credit Union has an exceptionally high pick rate. They most likely have borrower friendly terms or other characteristics like being fast to close or are easy to work with.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| 0.0 | 49 | $4,095,000 | $83,571 |
| NA | 389 | $45,485,000 | $116,928 |