F&a Federal Credit Union Mortgage Rates, Fees & Info

Monterey Park, CA

LEI: 254900BBEPZS8MDE1S61

Tax ID: 95-1683492

5 stars - Updated: 2/26/24 - out of 5 stars, based on 28 reviews

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

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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.

Mortgage professionals: We have various tools to make your lives easier. Contact us to see how we can help with your market research, analytics or advertising needs.

SimulatedRates™

Mortgage Type
Simulated Rate Simulation Date
Home Equity Line of Credit (HELOC) 6.27% 2/26/24
30 Year Conventional Purchase 6.68% 2/26/24
30 Year Conventional Refi 6.61% 2/26/24
30 Year Cash-out Refi 7.27% 2/26/24
15 Year Conventional Purchase 6.57% 2/26/24
15 Year Conventional Refi 7.82% 2/26/24
15 Year Cash-out Refi 7.82% 2/26/24
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






Your Estimates

Estimated Loan Payment: Update the calculator values and click calculate payment!

This is not an official calculator from F&a Federal Credit Union. It uses our SimulatedRate™ technology, basic math and reasonable assumptions to calculate mortgage payments derived from our simulations and your inputs.

The default purchase price is the median sales price across the US for 2022Q4, per FRED.


Originations

791

Origination Dollar Volume (All Markets)

$218,345,000

Awards

F&A Federal Credit Union 30 Year Conventional Loans gold F&A Federal Credit Union 30 Year Conventional Loans gold F&A Federal Credit Union 30 Year Conventional Loans gold
Show all (3) awards

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%
F&a Federal Credit Union's top markets include Los Angeles, Riverside, Oxnard, San Diego, and Sacramento among others.

Their top states include:
  • California (FHA|USDA|VA)
  • Arizona (FHA|USDA|VA)
  • Washington (FHA|USDA|VA)
  • Texas (FHA|USDA|VA)
  • Nevada (FHA|USDA|VA)
  • 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.

    Credence Funding Corporation
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    MISSION
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    Christian Community Credit Union
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    Los Angeles Federal Credit Union
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    First City Credit Union
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    POPA FEDERAL CREDIT UNION
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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

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Cash Out Refi 437 $112,095,000 $256,510 $733 4.01%
    Other 151 $26,265,000 $173,940 $0 3.99%
    Refi 104 $27,530,000 $264,712 $967 3.82%
    Home Purchase 98 $52,120,000 $531,837 $2,957 4.44%
    Home Improvement 1 $335,000 $335,000 $0 3.50%

    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

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 345 $67,505,000 $195,667 $0 3.69%
    30 Year 209 $107,485,000 $514,282 $2,062 3.83%
    20 Year 99 $16,125,000 $162,879 $209 5.66%
    15 Year 93 $21,885,000 $235,323 $751 3.97%
    10 Year 45 $5,345,000 $118,778 $332 4.25%

    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

    Loan Rate Originations Total Value Average Loan
    3-4% 264 $79,310,000 $300,417
    2.5-3% 205 $63,215,000 $308,366
    4-5% 162 $43,750,000 $270,062
    5-6% 75 $14,235,000 $189,800
    6-7% 39 $7,545,000 $193,462
    <2.5% 25 $8,045,000 $321,800
    7-8% 12 $1,260,000 $105,000
    Over 8% 9 $985,000 $109,444

    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

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 219 $59,945,000 $273,721 $1,162 3.72%
    $100k-200k 195 $26,105,000 $133,872 $400 4.23%
    $100,000 or less 175 $10,825,000 $61,857 $86 4.55%
    $400k-600k 131 $63,045,000 $481,260 $2,049 3.78%
    $600k-1MM 62 $44,870,000 $723,710 $2,341 3.72%
    $1MM+ 9 $13,555,000 $1,506,111 $3,819 3.36%

    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

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $150k-250k 308 $88,540,000 $287,468 $1,100 3.94%
    $100k-150k 208 $46,390,000 $223,029 $1,111 4.23%
    $250k+ 135 $55,675,000 $412,407 $1,492 4.00%
    $75k-100k 72 $14,490,000 $201,250 $856 4.15%
    $50k-75k 48 $9,400,000 $195,833 $1,238 3.67%
    $50k or less 15 $2,085,000 $139,000 $886 4.25%

    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

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 169 $43,615,000 $258,077 $1,095 3.74%
    30-36% 139 $40,715,000 $292,914 $1,135 3.92%
    49% 44 $12,470,000 $283,409 $1,120 4.17%
    41% 36 $9,580,000 $266,111 $911 4.39%
    44% 35 $10,165,000 $290,429 $1,093 3.86%
    40% 35 $10,995,000 $314,143 $1,617 4.33%
    <20% 34 $8,120,000 $238,824 $981 3.50%
    36% 32 $8,640,000 $270,000 $1,214 4.10%
    45% 30 $9,480,000 $316,000 $1,084 4.29%
    47% 29 $8,435,000 $290,862 $1,948 4.02%
    50-60% 29 $6,475,000 $223,276 $333 4.89%
    42% 28 $7,880,000 $281,429 $1,881 3.83%
    48% 27 $7,375,000 $273,148 $950 4.43%
    39% 25 $4,885,000 $195,400 $1,071 4.67%
    43% 25 $9,335,000 $373,400 $1,383 3.86%
    38% 23 $5,835,000 $253,696 $1,092 4.28%
    46% 22 $6,300,000 $286,364 $1,343 3.96%
    37% 19 $5,585,000 $293,947 $1,105 3.80%
    >60% 5 $725,000 $145,000 $691 5.75%

    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

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 461 $119,955,000 $260,206 $1,101 4.03%
    Not provided 242 $72,700,000 $300,413 $1,206 4.06%
    Asian 45 $13,605,000 $302,333 $1,224 3.92%
    Black 13 $3,615,000 $278,077 $1,022 3.89%
    American Indian 10 $2,460,000 $246,000 $1,817 4.11%
    Chinese 5 $1,185,000 $237,000 $1,139 3.38%
    Asian Indian 2 $1,120,000 $560,000 $2,129 5.19%
    Other Asian 3 $1,115,000 $371,667 $1,164 3.04%
    Native Hawaiian or Islander 1 $705,000 $705,000 $1,449 2.13%
    Filipino 3 $665,000 $221,667 $520 4.37%
    Vietnamese 1 $405,000 $405,000 $1,219 4.25%
    Guamanian 1 $325,000 $325,000 $1,546 4.75%
    Japanese 2 $320,000 $160,000 $0 4.50%
    Other Pacific Islander 2 $170,000 $85,000 $0 6.44%

    Approval Rates

    Total approvals of all applications
    95.55%

    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 origination
    69.66%

    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

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    791 $218,345,000 $276,037

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 178 $53,020,000 $297,865 $1,007 3.84%
    40-60% 94 $41,840,000 $445,106 $1,677 3.43%
    60-80% 98 $54,780,000 $558,980 $2,076 3.78%
    80-100% 48 $27,270,000 $568,125 $2,460 4.25%
    Under 20% 373 $41,435,000 $111,086 $121 4.32%