Jefferson Parish Employees Fcu Mortgage Rates, Fees & Info

Harahan, LA

LEI: 25490095CTOC97LRQD90

Tax ID: 72-0541298

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

Review & Overview

Jefferson Parish Employees Fcu is a smaller credit union specializing in Refi and Cash Out Refi loans. Jefferson Parish Employees Fcu has a high proportion of conventional loans. Their top (well, only) market is New Orleans.

Jefferson Parish Employees Fcu 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.

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%	4/28/24
30 Year Conventional Refi	6.23%	4/28/24
30 Year Cash-out Refi	6.81%	4/28/24
15 Year Conventional Purchase	5.86%	4/28/24
15 Year Conventional Refi	6.42%	4/28/24
15 Year Cash-out Refi	6.42%	4/28/24
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

Origination Dollar Volume (All Markets)

$1,425,000

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)	13	$1,425,000	$109,615	$2,744	4.66%

Jefferson Parish Employees Fcu's top markets include and New Orleans among others.

Their top states include:

Louisiana (FHA|USDA|VA)

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.

GREATER NEW ORLEANS
Similarity Rank: 182

America's Mortgage Resource, Inc.
Similarity Rank: 315

JEFFERSON FINANCIAL
Similarity Rank: 448

Florida Parishes Bank
Similarity Rank: 576

Home Bank
Similarity Rank: 608

BancorpSouth
Similarity Rank: 915

KEESLER
Similarity Rank: 936

CLEARPATH LENDING
Similarity Rank: 1610

FBT Mortgage, L.L.C.
Similarity Rank: 3132

THRIVE MORTGAGE, LLC
Similarity Rank: 3540

Product Mix

Loan Type	Originations	Total Value	Avg. Loan	Avg. Fees	Avg. Rate
Conventional	13	$1,425,000	$109,615	$2,744	4.66%

For 2018, Jefferson Parish Employees Fcu's most frequently originated type of loan was Conventional, with 13 originations.

Loan Reason

Loan Reason	Originations	Total Value	Avg. Loan	Avg. Fees	Avg. Rate
Refi	8	$1,020,000	$127,500	$3,158	4.18%
Cash Out Refi	5	$405,000	$81,000	$2,082	5.42%

For 2018, Jefferson Parish Employees Fcu's most frequently cited loan purpose was Refi, with 8 originations. The 2nd most popular reason was Cash Out Refi, with 5 originations.

Loan Duration/Length

Loan Length	Originations	Total Value	Average Loan	Average Fees	Average Rate
15 Year	12	$1,370,000	$114,167	$2,775	4.66%
10 Year	1	$55,000	$55,000	$2,376	4.66%

For 2018, Jefferson Parish Employees Fcu's most frequently cited loan duration was 15 Year, with 12 originations. The 2nd most popular length was 10 Year, with 1 originations.

Origination Fees/Closing Costs

Origination Fee/Closing Cost	Originations	Total Value	Average Loan
$<1k	8	$520,000	$65,000
$1k-2k	4	$650,000	$162,500
$2k-3k	1	$255,000	$255,000

Jefferson Parish Employees Fcu's average total fees were $0, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 8 originations.

Interest Rates

Loan Rate	Originations	Total Value	Average Loan
4-5%	6	$570,000	$95,000
3-4%	4	$500,000	$125,000
6-7%	2	$100,000	$50,000
5-6%	1	$255,000	$255,000

During 2018, Jefferson Parish Employees Fcu's average interest rate for loans was 0.00%, while their most frequently originated rate bucket for loans was 4-5%, with 6 originations.

Loan Sizing

Loan Size	Originations	Total Value	Average Loan	Average Fees	Average Rate
$100,000 or less	8	$520,000	$65,000	$2,045	4.87%
$100k-200k	4	$650,000	$162,500	$3,555	4.14%
$200k-400k	1	$255,000	$255,000	$5,094	5.05%

2018 saw Jefferson Parish Employees Fcu place emphasis on $100,000 or less loans with 8 originations, totaling $520,000 in origination value.

Applicant Income

Applicant Income	Originations	Total Value	Average Loan	Average Fees	Average Rate
$75k-100k	4	$510,000	$127,500	$3,239	4.31%
$100k-150k	3	$365,000	$121,667	$2,471	4.89%
$50k or less	3	$165,000	$55,000	$2,242	4.30%
$50k-75k	2	$330,000	$165,000	$3,806	4.62%
$150k-250k	1	$55,000	$55,000	$962	6.50%

Jefferson Parish Employees Fcu lent most frequently to those with incomes in the $75k-100k range, with 4 originations. The second most popular income band? $100k-150k, with 3 originations.

Applicant Debt to Income Ratio

DTI Ratio	Originations	Total Value	Average Loan	Average Fees	Average Rate
20-30%	6	$780,000	$130,000	$3,186	4.23%
<20%	2	$140,000	$70,000	$1,784	5.70%
30-36%	2	$140,000	$70,000	$2,390	3.71%
38%	1	$255,000	$255,000	$5,094	5.05%
39%	1	$55,000	$55,000	$2,155	4.80%
42%	1	$55,000	$55,000	$962	6.50%

Jefferson Parish Employees Fcu lent most frequently to those with DTI ratios of 20-30%, with 6 originations. The next most common DTI ratio? <20%, with 2 originations.

Ethnicity Mix

Applicant Ethnicity	Originations	Total Value	Average Loan	Average Fees	Average Rate
White	10	$1,040,000	$104,000	$2,558	4.75%
Black	2	$210,000	$105,000	$3,051	4.54%
Asian	1	$175,000	$175,000	$3,988	3.94%

Approval Rates

Total approvals of all applications
64.00%

Jefferson Parish Employees Fcu has a low approval rate. They may have poor market targeting or stringent lending standards.

Pick Rate

Approvals leading to origination
76.92%

Jefferson Parish Employees Fcu has a below average pick rate.

Points and Fees

Points	Originations	Total Value	Average Loan
NA	13	$1,425,000	$109,615

Occupancy Type Mix

Dwelling Type	Originations	Total Value	Average Loan
Single Family (1-4 Units):Site-Built	13	$1,425,000	$109,615

LTV Distribution

Loan to Value	Originations	Total Value	Average Loan	Average Fees	Average Rate
20-40%	5	$375,000	$75,000	$2,458	4.26%
40-60%	1	$85,000	$85,000	$2,584	3.97%
60-80%	3	$595,000	$198,333	$4,093	4.48%
80-100%	2	$270,000	$135,000	$3,324	4.42%
Under 20%	2	$100,000	$50,000	$935	6.50%

Complaints

Bank Name	Product	Issue	2018 CPFB Complaints	% of Total Issues
Jefferson Title Corporation	Conventional home mortgage	Closing on a mortgage	1	100.0%