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 Sacramento among others. We have data for 46 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 about average 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% | 5/27/23 |
| 30 Year Conventional Purchase | 6.68% | 5/27/23 |
| 30 Year Conventional Refi | 6.61% | 5/27/23 |
| 30 Year Cash-out Refi | 7.27% | 5/27/23 |
| 15 Year Conventional Purchase | 6.57% | 5/27/23 |
| 15 Year Conventional Refi | 7.82% | 5/27/23 |
| 15 Year Cash-out Refi | 7.82% | 5/27/23 |
| 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
791Origination Dollar Volume (All Markets)
$218,345,000Awards
F&A Federal Credit Union - 2022
F&A Federal Credit Union is a 2022 , due to their low .
For 2022, 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
3.83%.
The 2022 average 30 year fixed rate mortgage across all markets and lenders was 4.76%.
This yields a difference of -0.93%.
Relative Fees (Closing Costs)
F&a Federal Credit Union's average total fees/closing costs for a 30 year fixed rate
mortgage were $2,062.
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 $4,750.
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) | 467 | $134,405,000 | $287,805 | $1,077 | 3.92% |
| RIVERSIDE-SAN BERNARDINO-ONTARIO, CA (FHA|USDA|VA) | 172 | $39,280,000 | $228,372 | $944 | 4.41% |
| OXNARD-THOUSAND OAKS-VENTURA, CA (FHA|USDA|VA) | 32 | $7,200,000 | $225,000 | $1,381 | 3.96% |
| SAN DIEGO-CHULA VISTA-CARLSBAD, CA (FHA|USDA|VA) | 22 | $7,070,000 | $321,364 | $744 | 4.15% |
| SACRAMENTO-ROSEVILLE-FOLSOM, CA (FHA|USDA|VA) | 10 | $3,160,000 | $316,000 | $895 | 4.25% |
| LAKE HAVASU CITY-KINGMAN, AZ (FHA|USDA|VA) | 9 | $2,745,000 | $305,000 | $1,713 | 3.94% |
| Seattle-Tacoma-Bellevue, WA (FHA|USDA|VA) | 4 | $2,470,000 | $617,500 | $2,404 | 4.47% |
| LAS VEGAS-HENDERSON-PARADISE, NV (FHA|USDA|VA) | 6 | $1,690,000 | $281,667 | $1,008 | 3.75% |
| SANTA MARIA-SANTA BARBARA, CA (FHA|USDA|VA) | 4 | $1,510,000 | $377,500 | $1,666 | 3.41% |
| San Francisco-Oakland-Berkeley, CA (FHA|USDA|VA) | 2 | $1,460,000 | $730,000 | $957 | 3.68% |
| PHOENIX-MESA-CHANDLER, AZ (FHA|USDA|VA) | 5 | $1,405,000 | $281,000 | $2,874 | 3.85% |
| Outside of Metro Areas | 6 | $1,270,000 | $211,667 | $1,556 | 3.33% |
| Dallas-Fort Worth-Arlington, TX (FHA|USDA|VA) | 3 | $1,055,000 | $351,667 | $2,731 | 3.46% |
| BAKERSFIELD, CA (FHA|USDA|VA) | 5 | $1,045,000 | $209,000 | $1,426 | 3.97% |
| BOISE CITY, ID (FHA|USDA|VA) | 2 | $980,000 | $490,000 | $1,949 | 3.69% |
| AUSTIN-ROUND ROCK-GEORGETOWN, TX (FHA|USDA|VA) | 2 | $890,000 | $445,000 | $2,665 | 3.44% |
| RENO, NV (FHA|USDA|VA) | 3 | $715,000 | $238,333 | $879 | 3.79% |
| SAN ANTONIO-NEW BRAUNFELS, TX (FHA|USDA|VA) | 2 | $690,000 | $345,000 | $4,757 | 3.19% |
| HUNTSVILLE, AL (FHA|USDA|VA) | 2 | $670,000 | $335,000 | $1,424 | 3.81% |
| SANTA ROSA-PETALUMA, CA (FHA|USDA|VA) | 1 | $635,000 | $635,000 | $1,364 | 3.50% |
| SAN LUIS OBISPO-PASO ROBLES, CA (FHA|USDA|VA) | 4 | $500,000 | $125,000 | $0 | 3.94% |
| DENVER-AURORA-LAKEWOOD, CO (FHA|USDA|VA) | 2 | $490,000 | $245,000 | $1,214 | 3.88% |
| MEDFORD, OR (FHA|USDA|VA) | 1 | $485,000 | $485,000 | $2,400 | 2.88% |
| Frankfort, KY (FHA|USDA|VA) | 1 | $465,000 | $465,000 | $2,271 | 6.62% |
| SALT LAKE CITY, UT (FHA|USDA|VA) | 1 | $455,000 | $455,000 | $1,706 | 3.75% |
| REDDING, CA (FHA|USDA|VA) | 1 | $435,000 | $435,000 | $2,564 | 3.99% |
| STOCKTON, CA (FHA|USDA|VA) | 2 | $430,000 | $215,000 | $1,546 | 3.75% |
| PORTLAND-VANCOUVER-HILLSBORO, OR-WA (FHA|USDA|VA) | 1 | $405,000 | $405,000 | $2,572 | 5.38% |
| Truckee-Grass Valley, CA (FHA|USDA|VA) | 1 | $405,000 | $405,000 | $1,756 | 2.88% |
| Philadelphia-Camden-Wilmington, PA-NJ-DE-MD (FHA|USDA|VA) | 1 | $395,000 | $395,000 | $3,028 | 3.50% |
| ASHEVILLE, NC (FHA|USDA|VA) | 1 | $385,000 | $385,000 | $2,119 | 4.99% |
| Outside of Metro Areas | 1 | $375,000 | $375,000 | $2,582 | 4.50% |
| LAS CRUCES, NM (FHA|USDA|VA) | 2 | $340,000 | $170,000 | $863 | 4.25% |
| VISALIA, CA (FHA|USDA|VA) | 1 | $265,000 | $265,000 | $1,369 | 5.50% |
| CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) | 1 | $265,000 | $265,000 | $2,639 | 3.75% |
| Clearlake, CA (FHA|USDA|VA) | 1 | $255,000 | $255,000 | $2,073 | 3.25% |
| CHICO, CA (FHA|USDA|VA) | 1 | $245,000 | $245,000 | $1,434 | 5.25% |
| TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) | 1 | $215,000 | $215,000 | $1,294 | 3.50% |
| GADSDEN, AL (FHA|USDA|VA) | 1 | $215,000 | $215,000 | $1,271 | 5.00% |
| Ontario, OR-ID (FHA|USDA|VA) | 1 | $205,000 | $205,000 | $1,979 | 3.00% |
| ELIZABETHTOWN-FORT KNOX, KY (FHA|USDA|VA) | 1 | $185,000 | $185,000 | $1,555 | 3.63% |
| OKLAHOMA CITY, OK (FHA|USDA|VA) | 1 | $175,000 | $175,000 | $1,162 | 4.99% |
| EL CENTRO, CA (FHA|USDA|VA) | 1 | $155,000 | $155,000 | $914 | 3.25% |
| CORVALLIS, OR (FHA|USDA|VA) | 1 | $125,000 | $125,000 | $1,330 | 2.13% |
| Payson, AZ (FHA|USDA|VA) | 1 | $75,000 | $75,000 | $0 | 3.99% |
| MERCED, CA (FHA|USDA|VA) | 1 | $55,000 | $55,000 | $0 | 5.25% |
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 | 467 | $152,125,000 | $325,749 | $1,149 | 4.30% |
| HELOC | 324 | $66,220,000 | $204,383 | n/a | 3.66% |
For 2022, F&a Federal Credit Union's most frequently originated type of loan was Conventional, with 467 originations. Their 2nd most popular type was HELOC, with 324 originations.
Loan Reason
For 2022, F&a Federal Credit Union's most frequently cited loan purpose was Cash Out Refi, with 437 originations. The 2nd most popular reason was Other, with 151 originations.
Loan Duration/Length
For 2022, F&a Federal Credit Union's most frequently cited loan duration was Other, with 345 originations. The 2nd most popular length was 30 Year, with 209 originations.
Origination Fees/Closing Costs
| Origination Fee/Closing Cost | Originations | Total Value | Average Loan |
|---|---|---|---|
| $<1k | 464 | $150,720,000 | $324,828 |
| $3k-4k | 2 | $1,000,000 | $500,000 |
| $2k-3k | 1 | $405,000 | $405,000 |
F&a Federal Credit Union's average total fees were $2,062, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 464 originations.
Interest Rates
During 2022, F&a Federal Credit Union's average interest rate for loans was 3.83%, while their most frequently originated rate bucket for loans was 3-4%, with 264 originations.
Loan Sizing
2022 saw F&a Federal Credit Union place emphasis on $200k-400k loans with 219 originations, totaling $59,945,000 in origination value.
Applicant Income
F&a Federal Credit Union lent most frequently to those with incomes in the $150k-250k range, with 308 originations. The second most popular income band? $100k-150k, with 208 originations.
Applicant Debt to Income Ratio
F&a Federal Credit Union lent most frequently to those with DTI ratios of 20-30%, with 169 originations. The next most common DTI ratio? 30-36%, with 139 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications95.55%
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 origination69.66%
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 | 791 | $218,345,000 | $276,037 |