Jefferson Parish Employees Fcu Mortgage Rates, Fees & Info
Harahan, LALEI: 25490095CTOC97LRQD90
Tax ID: 72-0541298
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Mortgage Data
Review & Overview
Jefferson Parish Employees Fcu is a smaller credit union specializing in Refi and Home Purchase loans. Jefferson Parish Employees Fcu has a high proportion of conventional loans. Their top two markets are New Orleans and Baton Rouge .Jefferson Parish Employees Fcu has an average approval rate when compared to the average across all lenders. They have an above average pick rate when compared to similar lenders. Jefferson Parish Employees Fcu is typically a low 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 Purchase | 6.44% | 4/18/24 |
| 30 Year Conventional Refi | 6.23% | 4/18/24 |
| 30 Year Cash-out Refi | 6.81% | 4/18/24 |
| 15 Year Conventional Purchase | 5.86% | 4/18/24 |
| 15 Year Conventional Refi | 6.42% | 4/18/24 |
| 15 Year Cash-out Refi | 6.42% | 4/18/24 |
| 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. | ||
Jefferson Parish Employees Fcu Mortgage Calculator
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
25Origination Dollar Volume (All Markets)
$4,385,000Relative Rate
Jefferson Parish Employees Fcu's average 30 year fixed mortgage rate was
6.2%.
The 2023 average 30 year fixed rate mortgage across all markets and lenders was 6.48%.
This yields a difference of -0.28%.
Relative Fees (Closing Costs)
Jefferson Parish Employees Fcu's average total fees/closing costs for a 30 year fixed rate
mortgage were $2,837.
The average total origination fees for 30 year fixed rate mortgages across all lenders (for all loan values, including
both points & up-front fees in addition to origination fees) were $9,089.
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 |
|---|---|---|---|---|---|
| NEW ORLEANS-METAIRIE, LA (FHA|USDA|VA) | 23 | $3,865,000 | $168,043 | $2,245 | 6.51% |
| BATON ROUGE, LA (FHA|USDA|VA) | 1 | $295,000 | $295,000 | $3,493 | 6.68% |
| Outside of Metro Areas | 1 | $225,000 | $225,000 | $2,468 | 6.72% |
Similar Lenders
We use machine learning to identify the top lenders compared against Jefferson Parish Employees FCU 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 | 25 | $4,385,000 | $175,400 | $2,304 | 6.52% |
For 2023, Jefferson Parish Employees Fcu's most frequently originated type of loan was Conventional, with 25 originations.
Loan Reason
For 2023, Jefferson Parish Employees Fcu's most frequently cited loan purpose was Refi, with 11 originations. The 2nd most popular reason was Home Purchase, with 7 originations.
Loan Duration/Length
For 2023, Jefferson Parish Employees Fcu's most frequently cited loan duration was 15 Year, with 11 originations. The 2nd most popular length was 30 Year, with 10 originations.
Origination Fees/Closing Costs
| Origination Fee/Closing Cost | Originations | Total Value | Average Loan |
|---|---|---|---|
| $<1k | 24 | $4,130,000 | $172,083 |
| $2k-3k | 1 | $255,000 | $255,000 |
Jefferson Parish Employees Fcu's average total fees were $2,837, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 24 originations.
Interest Rates
During 2023, Jefferson Parish Employees Fcu's average interest rate for loans was 6.20%, while their most frequently originated rate bucket for loans was 5-6%, with 9 originations.
Loan Sizing
2023 saw Jefferson Parish Employees Fcu place emphasis on $200k-400k loans with 9 originations, totaling $2,605,000 in origination value.
Applicant Income
Jefferson Parish Employees Fcu lent most frequently to those with incomes in the $100k-150k range, with 8 originations. The second most popular income band? $75k-100k, with 6 originations.
Applicant Debt to Income Ratio
Jefferson Parish Employees Fcu lent most frequently to those with DTI ratios of 20-30%, with 9 originations. The next most common DTI ratio? 30-36%, with 4 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications86.67%
Jefferson Parish Employees Fcu has an average approval rate.
Pick Rate
Approvals leading to origination96.00%
Jefferson Parish Employees Fcu has an exceptionally high pick rate. They most likely have borrower friendly terms or other characteristics like being fast to close or are easy to work with.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 25 | $4,385,000 | $175,400 |