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 Cash Out Refi loans. Popa Federal Credit Union has a high proportion of conventional loans. Their top markets by origination volume include: Los Angeles, Riverside, Oxnard, San Jose, and San Diego among others. We have data for 5 markets. (Some data included below & more in-depth data is available with an active subscription.)Popa Federal Credit Union has a below average approval rate when compared to the average across all lenders. They have a below average pick rate when compared to similar lenders. Popa Federal Credit Union is typically an average 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 Refi | 5.55% | 12/3/24 |
| 30 Year Cash-out Refi | 5.66% | 12/3/24 |
| 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
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
85Origination Dollar Volume (All Markets)
$11,255,000Top 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 |
|---|---|---|---|---|---|
| Los Angeles-Long Beach-Anaheim, CA (FHA|USDA|VA) | 67 | $9,025,000 | $134,701 | $7,714 | 5.61% |
| RIVERSIDE-SAN BERNARDINO-ONTARIO, CA (FHA|USDA|VA) | 13 | $1,655,000 | $127,308 | $6,897 | 360.96% |
| OXNARD-THOUSAND OAKS-VENTURA, CA (FHA|USDA|VA) | 3 | $315,000 | $105,000 | $0 | 5.42% |
| SAN JOSE-SUNNYVALE-SANTA CLARA, CA (FHA|USDA|VA) | 1 | $155,000 | $155,000 | $0 | 4.50% |
| SAN DIEGO-CHULA VISTA-CARLSBAD, CA (FHA|USDA|VA) | 1 | $105,000 | $105,000 | $0 | 4.50% |
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 | 43 | $6,825,000 | $158,721 | $7,533 | 113.45% |
| HELOC | 42 | $4,430,000 | $105,476 | n/a | 5.13% |
For 2018, Popa Federal Credit Union's most frequently originated type of loan was Conventional, with 43 originations. Their 2nd most popular type was HELOC, with 42 originations.
Loan Reason
For 2018, Popa Federal Credit Union's most frequently cited loan purpose was Home Improvement, with 56 originations. The 2nd most popular reason was Other, with 12 originations.
Loan Duration/Length
For 2018, Popa Federal Credit Union's most frequently cited loan duration was 15 Year, with 64 originations. The 2nd most popular length was 30 Year, with 11 originations.
Origination Fees/Closing Costs
| Origination Fee/Closing Cost | Originations | Total Value | Average Loan |
|---|---|---|---|
| $5k+ | 4 | $1,860,000 | $465,000 |
| $4k-5k | 3 | $1,225,000 | $408,333 |
| $3k-4k | 2 | $570,000 | $285,000 |
Popa Federal Credit Union's average total fees were $7,523, while their most frequently occuring range of origination fees (closing costs) were in the $5k+ bucket, with 4 originations.
Interest Rates
During 2018, Popa Federal Credit Union's average interest rate for loans was 424.52%, while their most frequently originated rate bucket for loans was 4-5%, with 40 originations.
Loan Sizing
2018 saw Popa Federal Credit Union place emphasis on $100,000 or less loans with 42 originations, totaling $2,310,000 in origination value.
Applicant Income
Popa Federal Credit Union lent most frequently to those with incomes in the $100k-150k range, with 32 originations. The second most popular income band? $150k-250k, with 27 originations.
Applicant Debt to Income Ratio
Popa Federal Credit Union lent most frequently to those with DTI ratios of >60%, with 39 originations. The next most common DTI ratio? 50-60%, with 13 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications69.33%
Popa Federal Credit Union has a low approval rate. They may have poor market targeting or stringent lending standards.
Pick Rate
Approvals leading to origination82.35%
Popa Federal Credit Union has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 85 | $11,255,000 | $132,412 |