F&a Federal Credit Union Mortgage Rates, Fees & Info
Monterey Park, CALEI: 254900BBEPZS8MDE1S61
Tax ID: 95-1683492
2021 Data | 2020 Data | 2019 Data | 2018 Data
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Mortgage Data
Overview
F&a Federal Credit Union is a smaller credit union specializing in Cash Out Refi and Refi loans. F&a Federal Credit Union has a high proportion of conventional loans. Their top markets include Los Angeles, Riverside, San Diego, Oxnard, and Santa Maria among others. F&a Federal Credit Union has an above average approval rate for mortages when compared nationally. They have a below average pick rate when compared to the same sample of other lendors. F&a Federal Credit Union is typically a low fee lendor.Originations
923Origination Dollar Volume (All Markets)
$296,505,000Awards
F&A Federal Credit Union - 2021
F&A Federal Credit Union is a 2021 , due to their low .
For 2021, 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 rate mortgage of loans were
3.02%.
The 2021 average 30 year fixed rate mortgage across all markets of loans were 3.15%.
This yields a difference of -0.13%.
Relative Fees
F&a Federal Credit Union's average total fees for a 30 year fixed rate
mortgage are $1,658.
The average total origination fees for 30 year fixed rate mortgages (for all loan values, including
both points & up-front fees in addition to origination fees) are $4,750.
Top Markets
| Market | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Los Angeles-Long Beach-Anaheim, CA (FHA|USDA|VA) | 557 | $182,885,000 | $328,339 | $1,298 | 3.00% |
| RIVERSIDE-SAN BERNARDINO-ONTARIO, CA (FHA|USDA|VA) | 205 | $60,685,000 | $296,024 | $1,196 | 3.07% |
| SAN DIEGO-CHULA VISTA-CARLSBAD, CA (FHA|USDA|VA) | 28 | $11,350,000 | $405,357 | $1,439 | 2.87% |
| OXNARD-THOUSAND OAKS-VENTURA, CA (FHA|USDA|VA) | 23 | $7,145,000 | $310,652 | $1,232 | 2.89% |
| SANTA MARIA-SANTA BARBARA, CA (FHA|USDA|VA) | 10 | $3,960,000 | $396,000 | $1,246 | 2.95% |
| SACRAMENTO-ROSEVILLE-FOLSOM, CA (FHA|USDA|VA) | 10 | $3,530,000 | $353,000 | $1,777 | 2.75% |
| SAN LUIS OBISPO-PASO ROBLES, CA (FHA|USDA|VA) | 7 | $3,485,000 | $497,857 | $1,037 | 3.02% |
| San Francisco-Oakland-Berkeley, CA (FHA|USDA|VA) | 6 | $3,000,000 | $500,000 | $1,408 | 2.90% |
| SANTA CRUZ-WATSONVILLE, CA (FHA|USDA|VA) | 5 | $2,115,000 | $423,000 | $1,393 | 3.05% |
| Outside of Metro Areas | 6 | $2,070,000 | $345,000 | $2,833 | 3.00% |
| PHOENIX-MESA-CHANDLER, AZ (FHA|USDA|VA) | 6 | $1,950,000 | $325,000 | $1,377 | 2.96% |
| BAKERSFIELD, CA (FHA|USDA|VA) | 10 | $1,950,000 | $195,000 | $918 | 3.47% |
| Outside of Metro Areas | 5 | $1,515,000 | $303,000 | $1,443 | 2.98% |
| PRESCOTT VALLEY-PRESCOTT, AZ (FHA|USDA|VA) | 4 | $1,500,000 | $375,000 | $2,134 | 2.97% |
| LAS VEGAS-HENDERSON-PARADISE, NV (FHA|USDA|VA) | 7 | $1,315,000 | $187,857 | $1,130 | 3.86% |
| RENO, NV (FHA|USDA|VA) | 3 | $1,025,000 | $341,667 | $1,040 | 3.29% |
| Gardnerville Ranchos, NV (FHA|USDA|VA) | 1 | $505,000 | $505,000 | $0 | 2.75% |
| Seattle-Tacoma-Bellevue, WA (FHA|USDA|VA) | 1 | $485,000 | $485,000 | $2,280 | 3.13% |
| Truckee-Grass Valley, CA (FHA|USDA|VA) | 2 | $450,000 | $225,000 | $1,227 | 2.25% |
| VISALIA, CA (FHA|USDA|VA) | 2 | $420,000 | $210,000 | $1,132 | 2.56% |
| Kalispell, MT (FHA|USDA|VA) | 1 | $375,000 | $375,000 | $2,153 | 2.88% |
| BEND, OR (FHA|USDA|VA) | 1 | $365,000 | $365,000 | $2,093 | 3.00% |
| Hilo, HI (FHA|USDA|VA) | 1 | $355,000 | $355,000 | $2,230 | 2.13% |
| DELTONA-DAYTONA BEACH-ORMOND BEACH, FL (FHA|USDA|VA) | 1 | $335,000 | $335,000 | $2,824 | 2.99% |
| PORTLAND-VANCOUVER-HILLSBORO, OR-WA (FHA|USDA|VA) | 1 | $325,000 | $325,000 | $1,986 | 2.38% |
| LAKE HAVASU CITY-KINGMAN, AZ (FHA|USDA|VA) | 1 | $305,000 | $305,000 | $2,280 | 3.13% |
| MODESTO, CA (FHA|USDA|VA) | 1 | $265,000 | $265,000 | $1,264 | 3.63% |
| INDIANAPOLIS-CARMEL-ANDERSON, IN (FHA|USDA|VA) | 1 | $255,000 | $255,000 | $459 | 2.50% |
| PUNTA GORDA, FL (FHA|USDA|VA) | 1 | $245,000 | $245,000 | $3,029 | 3.12% |
| ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) | 1 | $225,000 | $225,000 | $1,864 | 3.13% |
| BOISE CITY, ID (FHA|USDA|VA) | 1 | $215,000 | $215,000 | $1,655 | 2.99% |
| CHICO, CA (FHA|USDA|VA) | 1 | $205,000 | $205,000 | $0 | 2.75% |
| DURHAM-CHAPEL HILL, NC (FHA|USDA|VA) | 1 | $205,000 | $205,000 | $1,153 | 2.99% |
| GETTYSBURG, PA (FHA|USDA|VA) | 1 | $195,000 | $195,000 | $1,488 | 2.88% |
| Moscow, ID (FHA|USDA|VA) | 1 | $185,000 | $185,000 | $1,383 | 2.50% |
| EL PASO, TX (FHA|USDA|VA) | 1 | $175,000 | $175,000 | $1,719 | 3.88% |
| SAN JOSE-SUNNYVALE-SANTA CLARA, CA (FHA|USDA|VA) | 1 | $155,000 | $155,000 | $1,139 | 2.25% |
| Payson, AZ (FHA|USDA|VA) | 1 | $155,000 | $155,000 | $0 | 2.75% |
| AUSTIN-ROUND ROCK-GEORGETOWN, TX (FHA|USDA|VA) | 1 | $155,000 | $155,000 | $1,685 | 2.99% |
| VALLEJO, CA (FHA|USDA|VA) | 1 | $105,000 | $105,000 | $0 | 2.75% |
| DENVER-AURORA-LAKEWOOD, CO (FHA|USDA|VA) | 1 | $105,000 | $105,000 | $1,389 | 2.13% |
| Taos, NM (FHA|USDA|VA) | 1 | $85,000 | $85,000 | $847 | 2.50% |
| CINCINNATI, OH-KY-IN (FHA|USDA|VA) | 1 | $65,000 | $65,000 | $1,049 | 3.63% |
| Iron Mountain, MI-WI (FHA|USDA|VA) | 1 | $55,000 | $55,000 | $558 | 3.63% |
| FRESNO, CA (FHA|USDA|VA) | 1 | $55,000 | $55,000 | $0 | 3.25% |
F&a Federal Credit Union's top markets include Los Angeles, Riverside, San Diego, Oxnard, and Santa Maria among others.
Product Mix
| Loan Type | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Conventional | 923 | $296,505,000 | $321,241 | $1,300 | 3.01% |
For the 2021 period, F&a Federal Credit Union's most frequently originated loan type of loans were Conventional, with 923 originations.
Loan Reason
| Loan Reason | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Cash Out Refi | 497 | $168,755,000 | $339,547 | $1,170 | 2.96% |
| Refi | 255 | $83,915,000 | $329,078 | $1,220 | 2.92% |
| Other | 129 | $22,815,000 | $176,860 | $249 | 3.37% |
| Home Purchase | 39 | $20,605,000 | $528,333 | $3,834 | 3.13% |
| Home Improvement | 3 | $415,000 | $138,333 | $0 | 2.92% |
For the 2021, F&a Federal Credit Union's most frequently cited loan purpose of loans were Cash Out Refi, with 497 originations. The 2nd most popular reason of loans were Refi, with 255 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| 30 Year | 299 | $152,655,000 | $510,552 | $1,658 | 3.02% |
| Other | 289 | $53,025,000 | $183,478 | $0 | 3.03% |
| 15 Year | 186 | $53,120,000 | $285,591 | $1,158 | 2.71% |
| 20 Year | 88 | $26,030,000 | $295,795 | $850 | 3.75% |
| 10 Year | 61 | $11,675,000 | $191,393 | $904 | 2.73% |
For the 2021, F&a Federal Credit Union's most frequently cited loan length of loans were 30 Year, with 299 originations. The 2nd most popular length of loans were Other, with 289 originations.
Origination Fees
| Origination Fee | Originations | Total Value | Average Loan |
|---|---|---|---|
| $<1k | 645 | $242,875,000 | $376,550 |
| $5k+ | 1 | $1,245,000 | $1,245,000 |
$1,658 of loans were F&a Federal Credit Union's average total fees, while their most frequently occuring range of origination fees were in the $<1k bucket, with 645 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 2.5-3% | 514 | $182,870,000 | $355,778 |
| <2.5% | 171 | $50,445,000 | $295,000 |
| 3-4% | 157 | $53,705,000 | $342,070 |
| 4-5% | 43 | $5,535,000 | $128,721 |
| 5-6% | 26 | $2,690,000 | $103,462 |
| 6-7% | 11 | $1,115,000 | $101,364 |
| Over 8% | 1 | $145,000 | $145,000 |
During 2021, F&a Federal Credit Union's average interest rate of loans were 3.02%, while their most frequently originated rate bucket of loans were 2.5-3%, with 514 originations.
Loan Sizing
| Loan Size | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| $200k-400k | 313 | $88,685,000 | $283,339 | $1,280 | 2.78% |
| $100k-200k | 208 | $29,270,000 | $140,721 | $947 | 3.05% |
| $400k-600k | 161 | $79,835,000 | $495,870 | $1,391 | 2.92% |
| $100,000 or less | 129 | $7,735,000 | $59,961 | $221 | 3.71% |
| $600k-1MM | 92 | $66,860,000 | $726,739 | $1,696 | 2.91% |
| $1MM+ | 20 | $24,120,000 | $1,206,000 | $4,433 | 2.95% |
2021 saw F&a Federal Credit Union place emphasis on $200k-400k loans with 313 originations, totaling $88,685,000 in origination value.
Applicant Income
| Applicant Income | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| $150k-250k | 321 | $114,045,000 | $355,280 | $1,406 | 3.04% |
| $100k-150k | 247 | $64,255,000 | $260,142 | $1,134 | 2.99% |
| $250k+ | 154 | $72,710,000 | $472,143 | $1,561 | 3.05% |
| $75k-100k | 89 | $21,425,000 | $240,730 | $1,136 | 3.09% |
| $50k-75k | 72 | $15,060,000 | $209,167 | $1,290 | 2.87% |
| $50k or less | 27 | $4,965,000 | $183,889 | $1,117 | 2.71% |
F&a Federal Credit Union lent most frequently to those with incomes in the $150k-250k range, with 321 originations. The second most popular income band? $100k-150k, with 247 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| 20-30% | 249 | $82,035,000 | $329,458 | $1,286 | 2.97% |
| 30-36% | 197 | $63,905,000 | $324,391 | $1,231 | 3.04% |
| <20% | 92 | $23,700,000 | $257,609 | $1,191 | 2.75% |
| 40% | 31 | $10,845,000 | $349,839 | $1,263 | 3.14% |
| 36% | 30 | $8,550,000 | $285,000 | $1,059 | 3.28% |
| 47% | 30 | $8,030,000 | $267,667 | $703 | 3.47% |
| 42% | 28 | $11,250,000 | $401,786 | $1,423 | 3.25% |
| 41% | 27 | $9,395,000 | $347,963 | $1,696 | 2.89% |
| 39% | 26 | $8,480,000 | $326,154 | $1,306 | 2.94% |
| 43% | 25 | $7,605,000 | $304,200 | $1,103 | 3.07% |
| 49% | 25 | $8,305,000 | $332,200 | $1,209 | 2.74% |
| 38% | 25 | $9,395,000 | $375,800 | $1,297 | 3.15% |
| 50-60% | 25 | $5,385,000 | $215,400 | $975 | 3.13% |
| 44% | 23 | $10,385,000 | $451,522 | $4,453 | 2.93% |
| 45% | 21 | $8,315,000 | $395,952 | $1,325 | 3.06% |
| 46% | 20 | $5,820,000 | $291,000 | $1,200 | 3.37% |
| 48% | 18 | $5,500,000 | $305,556 | $1,315 | 2.79% |
| 37% | 18 | $5,170,000 | $287,222 | $1,170 | 2.95% |
| >60% | 7 | $2,015,000 | $287,857 | $1,147 | 3.30% |
F&a Federal Credit Union lent most frequently to those with DTI ratios of 20-30%, with 249 originations. The next most common DTI ratio? 30-36%, with 197 originations.
Ethnicity Mix
| Applicant Ethnicity | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| White | 594 | $179,660,000 | $302,458 | $1,218 | 3.04% |
| Not provided | 220 | $78,360,000 | $356,182 | $1,302 | 2.91% |
| Asian | 47 | $19,665,000 | $418,404 | $2,814 | 3.03% |
| Black | 27 | $7,895,000 | $292,407 | $1,084 | 3.10% |
| Chinese | 7 | $3,045,000 | $435,000 | $1,210 | 2.71% |
| American Indian | 10 | $2,790,000 | $279,000 | $1,032 | 2.87% |
| Filipino | 6 | $1,770,000 | $295,000 | $676 | 3.71% |
| Japanese | 4 | $1,620,000 | $405,000 | $1,527 | 3.06% |
| Other Asian | 4 | $1,000,000 | $250,000 | $893 | 3.06% |
| Vietnamese | 2 | $400,000 | $200,000 | $1,219 | 2.81% |
| Samoan | 1 | $255,000 | $255,000 | $0 | 4.25% |
| Native Hawaiian | 1 | $45,000 | $45,000 | $0 | 3.75% |
Approval Rates
Total approvals of all applications91.86%
F&a Federal Credit Union has an average approval rate.
Pick Rate
Approvals leading to origination65.08%
F&a 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 |
|---|---|---|---|
| NA | 923 | $296,505,000 | $321,241 |
Occupancy Type Mix
| Dwelling Type | Originations | Total Value | Average Loan |
|---|---|---|---|
| 923 | $296,505,000 | $321,241 |
LTV Distribution
| Loan to Value | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| 20-40% | 252 | $67,360,000 | $267,302 | $1,183 | 2.78% |
| 40-60% | 196 | $83,210,000 | $424,541 | $1,357 | 2.76% |
| 60-80% | 175 | $97,365,000 | $556,371 | $1,512 | 2.98% |
| 80-100% | 29 | $18,195,000 | $627,414 | $3,669 | 3.22% |
| Under 20% | 271 | $30,375,000 | $112,085 | $432 | 3.41% |
