Popa Federal Credit Union Mortgage Rates, Fees & Info

Cerritos, CA

LEI: 2549005B0YP23JCTYV51

Tax ID: 95-3432640

Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data

Jump to:

Mortgage Data

Review & Overview

Popa Federal Credit Union is a smaller credit union specializing in Cash Out Refi and Refi loans. Popa Federal Credit Union has a high proportion of conventional loans. Their top markets by origination volume include: Los Angeles, Riverside, San Diego, Oxnard, and Tucson 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 an 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 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.

Mortgage seekers: Choose your metro area here to explore the lowest fee & rate lenders.

Mortgage professionals: We have various tools to make your lives easier. Contact us to see how we can help with your market research, analytics or advertising needs.

SimulatedRates™

Mortgage Type
Simulated Rate Simulation Date
30 Year Conventional Refi 5.55% 4/14/24
30 Year Cash-out Refi 5.66% 4/14/24
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

Estimated Loan Payment: Update the calculator values and click calculate payment!

This is not an official calculator from Popa Federal Credit Union. It uses our SimulatedRate™ technology, basic math and reasonable assumptions to calculate mortgage payments derived from our simulations and your inputs.

The default purchase price is the median sales price across the US for 2022Q4, per FRED.


Originations

148

Origination Dollar Volume (All Markets)

$35,940,000

Awards

POPA FEDERAL CREDIT UNION 30 Year Conventional Loans bronze POPA FEDERAL CREDIT UNION 30 Year Conventional Loans bronze POPA FEDERAL CREDIT UNION 30 Year Conventional Loans bronze
Show all (3) awards

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) 105 $24,295,000 $231,381 $5,437 3.56%
RIVERSIDE-SAN BERNARDINO-ONTARIO, CA (FHA|USDA|VA) 38 $10,290,000 $270,789 $5,387 3.53%
SAN DIEGO-CHULA VISTA-CARLSBAD, CA (FHA|USDA|VA) 2 $830,000 $415,000 $6,366 3.75%
OXNARD-THOUSAND OAKS-VENTURA, CA (FHA|USDA|VA) 2 $280,000 $140,000 $0 4.25%
TUCSON, AZ (FHA|USDA|VA) 1 $245,000 $245,000 $3,819 3.25%
Popa Federal Credit Union's top markets include Los Angeles, Riverside, San Diego, Oxnard, and Tucson among others.

Their top states include:
  • California (FHA|USDA|VA)
  • Arizona (FHA|USDA|VA)
  • 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.

    Chaffey Federal Credit Union
    Similarity Rank: 345
    ALTURA
    Similarity Rank: 628
    Christian Community Credit Union
    Similarity Rank: 716
    FFC Mortgage Corp.
    Similarity Rank: 1428
    LA Financial Federal Credit Union
    Similarity Rank: 1677
    LONG BEACH FIREMEN S CREDIT UNION
    Similarity Rank: 1848
    SOUTHLAND CREDIT UNION
    Similarity Rank: 1974
    GLENDALE FEDERAL CREDIT UNION
    Similarity Rank: 2016
    ARROWHEAD CENTRAL CREDIT UNION
    Similarity Rank: 2282

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 120 $33,510,000 $279,250 $5,410 3.47%
    HELOC 28 $2,430,000 $86,786 n/a 3.96%

    For 2020, Popa Federal Credit Union's most frequently originated type of loan was Conventional, with 120 originations. Their 2nd most popular type was HELOC, with 28 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Improvement 70 $6,980,000 $99,714 $0 3.93%
    Cash Out Refi 36 $15,610,000 $433,611 $5,534 3.05%
    Refi 27 $10,355,000 $383,519 $4,783 3.13%
    Other 10 $670,000 $67,000 $0 4.35%
    Home Purchase 4 $2,280,000 $570,000 $7,903 2.75%
    NA 1 $45,000 $45,000 $0 3.25%

    For 2020, Popa Federal Credit Union's most frequently cited loan purpose was Home Improvement, with 70 originations. The 2nd most popular reason was Cash Out Refi, with 36 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 51 $23,735,000 $465,392 $5,637 3.06%
    15 Year 42 $7,060,000 $168,095 $4,537 3.60%
    20 Year 27 $3,035,000 $112,407 $0 4.62%
    10 Year 26 $2,050,000 $78,846 $0 3.40%
    5 Year 1 $45,000 $45,000 $0 3.25%
    Other 1 $15,000 $15,000 $0 3.25%

    For 2020, Popa Federal Credit Union's most frequently cited loan duration was 30 Year, with 51 originations. The 2nd most popular length was 15 Year, with 42 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $2k-3k 24 $9,060,000 $377,500
    $3k-4k 19 $10,715,000 $563,947
    $1k-2k 11 $3,045,000 $276,818
    $4k-5k 4 $2,020,000 $505,000
    $5k+ 3 $2,095,000 $698,333
    $<1k 2 $740,000 $370,000

    Popa Federal Credit Union's average total fees were $5,637, while their most frequently occuring range of origination fees (closing costs) were in the $2k-3k bucket, with 24 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    3-4% 79 $21,685,000 $274,494
    4-5% 30 $3,060,000 $102,000
    2.5-3% 16 $5,620,000 $351,250
    5-6% 12 $1,270,000 $105,833
    <2.5% 10 $4,280,000 $428,000
    7-8% 1 $25,000 $25,000

    During 2020, Popa Federal Credit Union's average interest rate for loans was 3.06%, while their most frequently originated rate bucket for loans was 3-4%, with 79 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 53 $3,065,000 $57,830 $0 3.95%
    $400k-600k 31 $15,065,000 $485,968 $5,513 3.08%
    $200k-400k 28 $7,910,000 $282,500 $4,296 3.12%
    $100k-200k 26 $3,400,000 $130,769 $5,118 4.08%
    $600k-1MM 10 $6,500,000 $650,000 $7,583 2.90%

    2020 saw Popa Federal Credit Union place emphasis on $100,000 or less loans with 53 originations, totaling $3,065,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 57 $13,175,000 $231,140 $4,954 3.55%
    $150k-250k 52 $14,960,000 $287,692 $6,199 3.67%
    $75k-100k 19 $2,745,000 $144,474 $4,338 3.51%
    $250k+ 11 $3,885,000 $353,182 $6,533 3.25%
    $50k-75k 7 $875,000 $125,000 $4,104 3.48%
    $50k or less 2 $300,000 $150,000 $3,819 3.25%

    Popa Federal Credit Union lent most frequently to those with incomes in the $100k-150k range, with 57 originations. The second most popular income band? $150k-250k, with 52 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    30-36% 36 $10,770,000 $299,167 $4,842 3.24%
    20-30% 27 $5,525,000 $204,630 $5,853 3.65%
    50-60% 9 $655,000 $72,778 $0 4.58%
    43% 8 $2,490,000 $311,250 $5,659 3.45%
    <20% 7 $1,265,000 $180,714 $6,068 3.11%
    38% 7 $1,545,000 $220,714 $4,650 3.25%
    40% 7 $1,625,000 $232,143 $6,850 3.68%
    41% 7 $2,985,000 $426,429 $5,691 3.32%
    36% 6 $970,000 $161,667 $4,702 3.67%
    42% 5 $475,000 $95,000 $0 4.75%
    37% 5 $2,235,000 $447,000 $5,989 3.38%
    45% 5 $1,145,000 $229,000 $5,931 3.63%
    49% 5 $985,000 $197,000 $5,709 3.25%
    48% 5 $745,000 $149,000 $5,378 4.05%
    39% 3 $1,315,000 $438,333 $6,122 3.25%
    46% 3 $645,000 $215,000 $6,773 3.25%
    47% 2 $100,000 $50,000 $0 5.00%
    44% 1 $465,000 $465,000 $5,458 2.75%

    Popa Federal Credit Union lent most frequently to those with DTI ratios of 30-36%, with 36 originations. The next most common DTI ratio? 20-30%, with 27 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 97 $17,775,000 $183,247 $5,141 3.79%
    Not provided 26 $11,200,000 $430,769 $5,569 2.87%
    Black 17 $4,885,000 $287,353 $5,878 3.38%
    American Indian 3 $955,000 $318,333 $5,181 3.13%
    Filipino 2 $770,000 $385,000 $6,588 3.25%
    Japanese 1 $235,000 $235,000 $3,963 2.75%
    Asian 1 $85,000 $85,000 $0 4.25%
    Native Hawaiian or Islander 1 $35,000 $35,000 $0 4.75%

    Approval Rates

    Total approvals of all applications
    88.03%

    Popa Federal Credit Union has an average approval rate.

    Pick Rate

    Approvals leading to origination
    68.92%

    Popa Federal Credit Union has a low pick rate. They may have issues with closing loans or may approve everyone, but with onerous loan terms.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 148 $35,940,000 $242,838

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Single Family (1-4 Units):Site-Built 148 $35,940,000 $242,838

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 13 $2,295,000 $176,538 $3,506 3.90%
    40-60% 10 $2,980,000 $298,000 $4,005 2.90%
    60-80% 44 $20,840,000 $473,636 $5,684 3.04%
    80-100% 9 $4,165,000 $462,778 $5,877 2.94%
    Under 20% 72 $5,660,000 $78,611 $0 3.99%