F&a Federal Credit Union Mortgage Rates, Fees & Info
Monterey Park, CALEI: 254900BBEPZS8MDE1S61
Tax ID: 95-1683492
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Mortgage Data
Review & Overview
F&a Federal Credit Union is a smaller credit union specializing in Cash Out Refi and Home Purchase loans. F&a Federal Credit Union has a high proportion of conventional loans. Their top markets by origination volume include: Los Angeles, Riverside, Oxnard, San Diego, and Las Vegas among others. We have data for 45 markets. (Some data included below & more in-depth data is available with an active subscription.)F&a Federal Credit Union has an above average approval rate when compared to the average across all lenders. They have a below average pick rate when compared to similar lenders. F&a Federal Credit Union 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.
Mortgage seekers: Choose your metro area here to explore the lowest fee & rate lenders.
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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| Home Equity Line of Credit (HELOC) | 6.27% | 11/17/24 |
| 30 Year Conventional Purchase | 6.68% | 11/17/24 |
| 30 Year Conventional Refi | 6.61% | 11/17/24 |
| 30 Year Cash-out Refi | 7.27% | 11/17/24 |
| 15 Year Conventional Purchase | 6.57% | 11/17/24 |
| 15 Year Conventional Refi | 7.82% | 11/17/24 |
| 15 Year Cash-out Refi | 7.82% | 11/17/24 |
| 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. | ||
F&a Federal Credit Union Mortgage Calculator
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This is not an official calculator from F&a Federal Credit Union. It uses our SimulatedRate™
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
538Origination Dollar Volume (All Markets)
$127,260,000Awards
F&A Federal Credit Union - 2023
F&A Federal Credit Union is a 2023 , due to their low .
For 2023, less than of lenders were eligible for this award.
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Relative Rate
F&a Federal Credit Union's average 30 year fixed mortgage rate was
6.11%.
The 2023 average 30 year fixed rate mortgage across all markets and lenders was 6.48%.
This yields a difference of -0.37%.
Relative Fees (Closing Costs)
F&a Federal Credit Union's average total fees/closing costs for a 30 year fixed rate
mortgage were $2,729.
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 |
|---|---|---|---|---|---|
| Los Angeles-Long Beach-Anaheim, CA (FHA|USDA|VA) | 314 | $72,720,000 | $231,592 | $813 | 7.21% |
| RIVERSIDE-SAN BERNARDINO-ONTARIO, CA (FHA|USDA|VA) | 111 | $21,225,000 | $191,216 | $854 | 7.24% |
| OXNARD-THOUSAND OAKS-VENTURA, CA (FHA|USDA|VA) | 20 | $3,900,000 | $195,000 | $961 | 6.97% |
| SAN DIEGO-CHULA VISTA-CARLSBAD, CA (FHA|USDA|VA) | 14 | $3,490,000 | $249,286 | $1,202 | 6.82% |
| LAS VEGAS-HENDERSON-PARADISE, NV (FHA|USDA|VA) | 6 | $1,870,000 | $311,667 | $1,331 | 6.14% |
| Outside of Metro Areas | 5 | $1,735,000 | $347,000 | $1,998 | 6.92% |
| LAKE HAVASU CITY-KINGMAN, AZ (FHA|USDA|VA) | 7 | $1,675,000 | $239,286 | $1,418 | 7.32% |
| PHOENIX-MESA-CHANDLER, AZ (FHA|USDA|VA) | 5 | $1,465,000 | $293,000 | $1,954 | 6.82% |
| SAN LUIS OBISPO-PASO ROBLES, CA (FHA|USDA|VA) | 5 | $1,365,000 | $273,000 | $582 | 6.85% |
| SANTA MARIA-SANTA BARBARA, CA (FHA|USDA|VA) | 2 | $1,140,000 | $570,000 | $1,914 | 6.81% |
| PROVIDENCE-WARWICK, RI-MA (FHA|USDA|VA) | 1 | $1,005,000 | $1,005,000 | $4,039 | 6.24% |
| Kill Devil Hills, NC (FHA|USDA|VA) | 1 | $995,000 | $995,000 | $3,722 | 6.13% |
| BAKERSFIELD, CA (FHA|USDA|VA) | 5 | $915,000 | $183,000 | $937 | 6.88% |
| RENO, NV (FHA|USDA|VA) | 2 | $890,000 | $445,000 | $2,585 | 5.50% |
| PRESCOTT VALLEY-PRESCOTT, AZ (FHA|USDA|VA) | 4 | $790,000 | $197,500 | $0 | 6.69% |
| Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) | 1 | $735,000 | $735,000 | $4,659 | 5.88% |
| RALEIGH-CARY, NC (FHA|USDA|VA) | 2 | $720,000 | $360,000 | $2,111 | 5.87% |
| ST. GEORGE, UT (FHA|USDA|VA) | 1 | $675,000 | $675,000 | $2,413 | 5.88% |
| OCALA, FL (FHA|USDA|VA) | 1 | $655,000 | $655,000 | $3,939 | 4.75% |
| Bozeman, MT (FHA|USDA|VA) | 1 | $625,000 | $625,000 | $3,387 | 6.25% |
| FAYETTEVILLE-SPRINGDALE-ROGERS, AR (FHA|USDA|VA) | 1 | $615,000 | $615,000 | $1,381 | 5.99% |
| MANCHESTER-NASHUA, NH (FHA|USDA|VA) | 1 | $605,000 | $605,000 | $2,134 | 6.25% |
| Hailey, ID (FHA|USDA|VA) | 1 | $565,000 | $565,000 | $3,299 | 6.24% |
| Seattle-Tacoma-Bellevue, WA (FHA|USDA|VA) | 2 | $560,000 | $280,000 | $2,192 | 5.62% |
| KAHULUI-WAILUKU-LAHAINA, HI (FHA|USDA|VA) | 1 | $555,000 | $555,000 | $2,024 | 5.99% |
| Outside of Metro Areas | 1 | $525,000 | $525,000 | $1,679 | 5.99% |
| DENVER-AURORA-LAKEWOOD, CO (FHA|USDA|VA) | 1 | $505,000 | $505,000 | $0 | 7.75% |
| BOISE CITY, ID (FHA|USDA|VA) | 2 | $500,000 | $250,000 | $2,457 | 7.25% |
| ANN ARBOR, MI (FHA|USDA|VA) | 1 | $495,000 | $495,000 | $2,133 | 6.75% |
| AUSTIN-ROUND ROCK-GEORGETOWN, TX (FHA|USDA|VA) | 1 | $435,000 | $435,000 | $3,403 | 7.24% |
| Kalispell, MT (FHA|USDA|VA) | 1 | $405,000 | $405,000 | $2,225 | 6.50% |
| SACRAMENTO-ROSEVILLE-FOLSOM, CA (FHA|USDA|VA) | 4 | $390,000 | $97,500 | $0 | 7.81% |
| Warsaw, IN (FHA|USDA|VA) | 1 | $365,000 | $365,000 | $774 | 6.99% |
| Chicago-Naperville-Elgin, IL-IN-WI (FHA|USDA|VA) | 1 | $355,000 | $355,000 | $2,709 | 5.99% |
| SAN ANTONIO-NEW BRAUNFELS, TX (FHA|USDA|VA) | 1 | $345,000 | $345,000 | $2,841 | 6.87% |
| PORTLAND-VANCOUVER-HILLSBORO, OR-WA (FHA|USDA|VA) | 1 | $315,000 | $315,000 | $2,737 | 5.99% |
| THE VILLAGES, FL (FHA|USDA|VA) | 1 | $175,000 | $175,000 | $898 | 7.00% |
| Boston-Cambridge-Newton, MA-NH (FHA|USDA|VA) | 1 | $175,000 | $175,000 | $1,683 | 5.75% |
| ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) | 1 | $165,000 | $165,000 | $1,353 | 4.75% |
| AKRON, OH (FHA|USDA|VA) | 1 | $155,000 | $155,000 | $0 | 10.50% |
| Dallas-Fort Worth-Arlington, TX (FHA|USDA|VA) | 1 | $125,000 | $125,000 | $1,739 | 5.99% |
| CINCINNATI, OH-KY-IN (FHA|USDA|VA) | 1 | $105,000 | $105,000 | $1,370 | 7.13% |
| REDDING, CA (FHA|USDA|VA) | 1 | $105,000 | $105,000 | $0 | 6.99% |
| CHICO, CA (FHA|USDA|VA) | 1 | $65,000 | $65,000 | $0 | 7.25% |
| Ponca City, OK (FHA|USDA|VA) | 1 | $65,000 | $65,000 | $1,012 | 6.88% |
Similar Lenders
We use machine learning to identify the top lenders compared against F&A Federal Credit Union 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 | 341 | $85,705,000 | $251,334 | $1,014 | 6.73% |
| HELOC | 197 | $41,555,000 | $210,939 | n/a | 7.78% |
For 2023, F&a Federal Credit Union's most frequently originated type of loan was Conventional, with 341 originations. Their 2nd most popular type was HELOC, with 197 originations.
Loan Reason
For 2023, F&a Federal Credit Union's most frequently cited loan purpose was Cash Out Refi, with 316 originations. The 2nd most popular reason was Home Purchase, with 97 originations.
Loan Duration/Length
For 2023, F&a Federal Credit Union's most frequently cited loan duration was Other, with 233 originations. The 2nd most popular length was 30 Year, with 112 originations.
Origination Fees/Closing Costs
| Origination Fee/Closing Cost | Originations | Total Value | Average Loan |
|---|---|---|---|
| $<1k | 341 | $85,705,000 | $251,334 |
F&a Federal Credit Union's average total fees were $2,729, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 341 originations.
Interest Rates
During 2023, F&a Federal Credit Union's average interest rate for loans was 6.11%, while their most frequently originated rate bucket for loans was 6-7%, with 178 originations.
Loan Sizing
2023 saw F&a Federal Credit Union place emphasis on $100,000 or less loans with 162 originations, totaling $9,770,000 in origination value.
Applicant Income
F&a Federal Credit Union lent most frequently to those with incomes in the $150k-250k range, with 193 originations. The second most popular income band? $100k-150k, with 142 originations.
Applicant Debt to Income Ratio
F&a Federal Credit Union lent most frequently to those with DTI ratios of 30-36%, with 89 originations. The next most common DTI ratio? 20-30%, with 83 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications95.36%
F&a Federal Credit Union has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.
Pick Rate
Approvals leading to origination70.26%
F&a Federal Credit Union has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 538 | $127,260,000 | $236,543 |