Popa Federal Credit Union Mortgage Rates, Fees & Info
Cerritos, CALEI: 2549005B0YP23JCTYV51
Tax ID: 95-3432640
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Mortgage Data
Review & Overview
Popa Federal Credit Union is a smaller credit union specializing in Home Improvement and Other loans. Popa Federal Credit Union has a high proportion of conventional loans. Their top markets by origination volume include: Los Angeles, Riverside, Oxnard, and Bakersfield among others. We have data for 4 markets. (Some data included below & more in-depth data is available with an active subscription.)Popa Federal Credit Union has an average approval rate when compared to the average across all lenders. They have a below average pick rate when compared to similar lenders. They typically have about average 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 Refi | 5.55% | 12/2/24 |
| 30 Year Cash-out Refi | 5.66% | 12/2/24 |
| 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. | ||
Popa Federal 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
155Origination Dollar Volume (All Markets)
$16,155,000Relative Rate
Popa Federal Credit Union's average 30 year fixed mortgage rate was
5%.
The 2023 average 30 year fixed rate mortgage across all markets and lenders was 6.48%.
This yields a difference of -1.48%.
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 |
|---|---|---|---|---|---|
| Los Angeles-Long Beach-Anaheim, CA (FHA|USDA|VA) | 109 | $12,245,000 | $112,339 | $0 | 8.62% |
| RIVERSIDE-SAN BERNARDINO-ONTARIO, CA (FHA|USDA|VA) | 41 | $3,595,000 | $87,683 | $0 | 8.91% |
| OXNARD-THOUSAND OAKS-VENTURA, CA (FHA|USDA|VA) | 2 | $170,000 | $85,000 | $0 | 9.88% |
| BAKERSFIELD, CA (FHA|USDA|VA) | 3 | $145,000 | $48,333 | $0 | 9.50% |
Their top states include:
Similar Lenders
We use machine learning to identify the top lenders compared against POPA 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 | 108 | $9,920,000 | $91,852 | $0 | 8.86% |
| HELOC | 47 | $6,235,000 | $132,660 | n/a | 8.44% |
For 2023, Popa Federal Credit Union's most frequently originated type of loan was Conventional, with 108 originations. Their 2nd most popular type was HELOC, with 47 originations.
Loan Reason
For 2023, Popa Federal Credit Union's most frequently cited loan purpose was Home Improvement, with 119 originations. The 2nd most popular reason was Other, with 32 originations.
Loan Duration/Length
For 2023, Popa Federal Credit Union's most frequently cited loan duration was 20 Year, with 72 originations. The 2nd most popular length was 15 Year, with 51 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| Over 8% | 113 | $11,765,000 | $104,115 |
| 7-8% | 36 | $3,660,000 | $101,667 |
| 6-7% | 5 | $395,000 | $79,000 |
| 4-5% | 1 | $335,000 | $335,000 |
During 2023, Popa Federal Credit Union's average interest rate for loans was 5.00%, while their most frequently originated rate bucket for loans was Over 8%, with 113 originations.
Loan Sizing
2023 saw Popa Federal Credit Union place emphasis on $100,000 or less loans with 85 originations, totaling $5,225,000 in origination value.
Applicant Income
Popa Federal Credit Union lent most frequently to those with incomes in the $150k-250k range, with 61 originations. The second most popular income band? $100k-150k, with 59 originations.
Applicant Debt to Income Ratio
Popa Federal Credit Union lent most frequently to those with DTI ratios of 30-36%, with 23 originations. The next most common DTI ratio? 50-60%, with 18 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications76.10%
Popa Federal Credit Union has a below average approval rate.
Pick Rate
Approvals leading to origination80.00%
Popa Federal Credit Union has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| 3315.0 | 1 | $335,000 | $335,000 |
| NA | 154 | $15,820,000 | $102,727 |