Infirst Federal Credit Union Mortgage Rates, Fees & Info
Alexandria, VALEI: 254900791X4X11AYVA11
Tax ID: 53-0197084
Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data
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Mortgage Data
Review & Overview
Infirst Federal Credit Union is a smaller credit union specializing in Other and Home Improvement loans. Infirst Federal Credit Union has a high proportion of conventional loans. Their top markets by origination volume include: Washington, Atlanta, Baltimore, Deltona, and Jacksonville among others. We have data for 8 markets. (Some data included below & more in-depth data is available with an active subscription.)Infirst 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.
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Originations
21Origination Dollar Volume (All Markets)
$1,505,000Top 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 |
|---|---|---|---|---|---|
| Washington-Arlington-Alexandria, DC-VA-MD-WV (FHA|USDA|VA) | 11 | $865,000 | $78,636 | $0 | 0.00% |
| ATLANTA-SANDY SPRINGS-ALPHARETTA, GA (FHA|USDA|VA) | 2 | $240,000 | $120,000 | $0 | 0.00% |
| Outside of Metro Areas | 3 | $185,000 | $61,667 | $0 | 0.00% |
| BALTIMORE-COLUMBIA-TOWSON, MD (FHA|USDA|VA) | 1 | $65,000 | $65,000 | $0 | 0.00% |
| DELTONA-DAYTONA BEACH-ORMOND BEACH, FL (FHA|USDA|VA) | 1 | $55,000 | $55,000 | $0 | 0.00% |
| JACKSONVILLE, FL (FHA|USDA|VA) | 1 | $35,000 | $35,000 | $0 | 0.00% |
| Oil City, PA (FHA|USDA|VA) | 1 | $35,000 | $35,000 | $0 | 0.00% |
| RICHMOND, VA (FHA|USDA|VA) | 1 | $25,000 | $25,000 | $0 | 0.00% |
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 21 | $1,505,000 | $71,667 | $0 | 0.00% |
For 2020, Infirst Federal Credit Union's most frequently originated type of loan was Conventional, with 21 originations.
Loan Reason
| Loan Reason | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Other | 10 | $590,000 | $59,000 | $0 | 0.00% |
| Home Improvement | 8 | $630,000 | $78,750 | $0 | 0.00% |
| Home Purchase | 3 | $285,000 | $95,000 | $0 | 0.00% |
For 2020, Infirst Federal Credit Union's most frequently cited loan purpose was Other, with 10 originations. The 2nd most popular reason was Home Improvement, with 8 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Other | 21 | $1,505,000 | $71,667 | $0 | 0.00% |
For 2020, Infirst Federal Credit Union's most frequently cited loan duration was Other, with 21 originations.
Loan Sizing
| Loan Size | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| $100,000 or less | 16 | $820,000 | $51,250 | $0 | 0.00% |
| $100k-200k | 5 | $685,000 | $137,000 | $0 | 0.00% |
2020 saw Infirst Federal Credit Union place emphasis on $100,000 or less loans with 16 originations, totaling $820,000 in origination value.
Applicant Income
Infirst Federal Credit Union lent most frequently to those with incomes in the $100k-150k range, with 9 originations. The second most popular income band? $150k-250k, with 5 originations.
Applicant Debt to Income Ratio
Infirst Federal Credit Union lent most frequently to those with DTI ratios of 20-30%, with 4 originations. The next most common DTI ratio? 43%, with 3 originations.
Ethnicity Mix
| Applicant Ethnicity | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| White | 8 | $600,000 | $75,000 | $0 | 0.00% |
| Not provided | 8 | $480,000 | $60,000 | $0 | 0.00% |
| Black | 5 | $425,000 | $85,000 | $0 | 0.00% |
Approval Rates
Total approvals of all applications76.60%
Infirst Federal Credit Union has a below average approval rate.
Pick Rate
Approvals leading to origination61.90%
Infirst 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 |
|---|---|---|---|
| Exempt | 21 | $1,505,000 | $71,667 |
Occupancy Type Mix
| Dwelling Type | Originations | Total Value | Average Loan |
|---|---|---|---|
| Single Family (1-4 Units):Site-Built | 21 | $1,505,000 | $71,667 |
Complaints
| Bank Name | Product | Issue | 2020 CPFB Complaints | % of Total Issues |
|---|---|---|---|---|
| Informative Research | Conventional home mortgage | Problem with fraud alerts or security freezes | 1 | 100.0% |