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 Refi loans. F&a Federal Credit Union has a high proportion of conventional loans. Their top markets by origination volume include: Los Angeles, Riverside, San Diego, Oxnard, and Santa Maria 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 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.
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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| Home Equity Line of Credit (HELOC) | 6.27% | 12/16/24 |
| 30 Year Conventional Purchase | 6.68% | 12/16/24 |
| 30 Year Conventional Refi | 6.61% | 12/16/24 |
| 30 Year Cash-out Refi | 7.27% | 12/16/24 |
| 15 Year Conventional Purchase | 6.57% | 12/16/24 |
| 15 Year Conventional Refi | 7.82% | 12/16/24 |
| 15 Year Cash-out Refi | 7.82% | 12/16/24 |
| 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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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
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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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) | 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% |
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 | 646 | $244,120,000 | $377,895 | $1,300 | 3.02% |
| HELOC | 277 | $52,385,000 | $189,116 | n/a | 3.00% |
For 2021, F&a Federal Credit Union's most frequently originated type of loan was Conventional, with 646 originations. Their 2nd most popular type was HELOC, with 277 originations.
Loan Reason
For 2021, F&a Federal Credit Union's most frequently cited loan purpose was Cash Out Refi, with 497 originations. The 2nd most popular reason was Refi, with 255 originations.
Loan Duration/Length
For 2021, F&a Federal Credit Union's most frequently cited loan duration was 30 Year, with 299 originations. The 2nd most popular length was Other, with 289 originations.
Origination Fees/Closing Costs
| Origination Fee/Closing Cost | Originations | Total Value | Average Loan |
|---|---|---|---|
| $<1k | 645 | $242,875,000 | $376,550 |
| $5k+ | 1 | $1,245,000 | $1,245,000 |
F&a Federal Credit Union's average total fees were $1,658, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 645 originations.
Interest Rates
During 2021, F&a Federal Credit Union's average interest rate for loans was 3.02%, while their most frequently originated rate bucket for loans was 2.5-3%, with 514 originations.
Loan Sizing
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
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
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
Approval Rates
Total approvals of all applications96.14%
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 origination59.59%
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 |