Jefferson Credit Union Mortgage Rates, Fees & Info
Birmingham, ALLEI: 2549008W3O3PXWF90U35
Tax ID: 63-0390327
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Mortgage Data
Review & Overview
Jefferson Credit Union is a smaller credit union specializing in Cash Out Refi and Home Purchase loans. Jefferson Credit Union has a high proportion of conventional loans. Their top markets by origination volume include: Birmingham, Tuscaloosa, and Talladega among others. We have data for 3 markets. (Some data included below & more in-depth data is available with an active subscription.)Jefferson 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 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 | 6.72% | 4/5/25 |
| 30 Year Cash-out Refi | 6.72% | 4/5/25 |
| 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. | ||
Jefferson 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
17Origination Dollar Volume (All Markets)
$1,855,000Relative Rate
Jefferson Credit Union's average 30 year fixed mortgage rate was
7.33%.
The 2024 average 30 year fixed rate mortgage across all markets and lenders was 6.55%.
This yields a difference of 0.78%.
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 |
|---|---|---|---|---|---|
| BIRMINGHAM-HOOVER, AL (FHA|USDA|VA) | 13 | $1,545,000 | $118,846 | $0 | 8.27% |
| TUSCALOOSA, AL (FHA|USDA|VA) | 3 | $225,000 | $75,000 | $0 | 9.35% |
| Talladega-Sylacauga, AL (FHA|USDA|VA) | 1 | $85,000 | $85,000 | $0 | 7.52% |
Similar Lenders
We use machine learning to identify the top lenders compared against Jefferson Credit Union based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.
Similarity Rank: 105
Similarity Rank: 119
Similarity Rank: 120
Similarity Rank: 930
Similarity Rank: 1125
Similarity Rank: 1323
Similarity Rank: 2106
Similarity Rank: 2538
Similarity Rank: 3285
Similarity Rank: 3311
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 9 | $1,155,000 | $128,333 | $0 | 7.71% |
| HELOC | 8 | $700,000 | $87,500 | n/a | 9.22% |
For 2024, Jefferson Credit Union's most frequently originated type of loan was Conventional, with 9 originations. Their 2nd most popular type was HELOC, with 8 originations.
Loan Reason
| Loan Reason | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Cash Out Refi | 11 | $885,000 | $80,455 | $0 | 8.66% |
| Home Purchase | 5 | $745,000 | $149,000 | $0 | 8.17% |
| Refi | 1 | $225,000 | $225,000 | $0 | 7.00% |
For 2024, Jefferson Credit Union's most frequently cited loan purpose was Cash Out Refi, with 11 originations. The 2nd most popular reason was Home Purchase, with 5 originations.
Loan Duration/Length
For 2024, Jefferson Credit Union's most frequently cited loan duration was 15 Year, with 9 originations. The 2nd most popular length was 30 Year, with 4 originations.
Origination Fees/Closing Costs
| Origination Fee/Closing Cost | Originations | Total Value | Average Loan |
|---|---|---|---|
| $<1k | 2 | $100,000 | $50,000 |
| $1k-2k | 2 | $350,000 | $175,000 |
| $2k-3k | 2 | $450,000 | $225,000 |
Jefferson Credit Union's average total fees were $0, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 2 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| Over 8% | 10 | $870,000 | $87,000 |
| 7-8% | 5 | $735,000 | $147,000 |
| 6-7% | 2 | $250,000 | $125,000 |
During 2024, Jefferson Credit Union's average interest rate for loans was 7.33%, while their most frequently originated rate bucket for loans was Over 8%, with 10 originations.
Loan Sizing
| Loan Size | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| $100,000 or less | 10 | $540,000 | $54,000 | $0 | 8.78% |
| $200k-400k | 4 | $860,000 | $215,000 | $0 | 8.05% |
| $100k-200k | 3 | $455,000 | $151,667 | $0 | 7.70% |
2024 saw Jefferson Credit Union place emphasis on $100,000 or less loans with 10 originations, totaling $540,000 in origination value.
Applicant Income
Jefferson Credit Union lent most frequently to those with incomes in the $50k-75k range, with 6 originations. The second most popular income band? $100k-150k, with 4 originations.
Applicant Debt to Income Ratio
Jefferson Credit Union lent most frequently to those with DTI ratios of 20-30%, with 6 originations. The next most common DTI ratio? 30-36%, with 5 originations.
Ethnicity Mix
| Applicant Ethnicity | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| White | 10 | $1,330,000 | $133,000 | $0 | 8.57% |
| Black | 7 | $525,000 | $75,000 | $0 | 8.21% |
Approval Rates
Total approvals of all applications73.08%
Jefferson Credit Union has a below average approval rate.
Pick Rate
Approvals leading to origination88.24%
Jefferson Credit Union has an average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| 11430.0 | 1 | $165,000 | $165,000 |
| 1235.0 | 1 | $15,000 | $15,000 |
| 1335.0 | 1 | $25,000 | $25,000 |
| 1520.0 | 1 | $35,000 | $35,000 |
| 1699.0 | 1 | $55,000 | $55,000 |
| 1763.1 | 1 | $25,000 | $25,000 |
| 1907.0 | 1 | $95,000 | $95,000 |
| 2222.1 | 1 | $75,000 | $75,000 |
| 2260.0 | 1 | $105,000 | $105,000 |
| 2500.0 | 1 | $55,000 | $55,000 |
| 3526.78 | 1 | $75,000 | $75,000 |
| 3845.6 | 1 | $185,000 | $185,000 |
| 3985.0 | 1 | $205,000 | $205,000 |
| 4310.0 | 2 | $430,000 | $215,000 |
| 4790.5 | 1 | $225,000 | $225,000 |
| NA | 1 | $85,000 | $85,000 |