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

Monterey Park, CA

LEI: 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.

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% 3/28/24
30 Year Conventional Purchase 6.68% 3/28/24
30 Year Conventional Refi 6.61% 3/28/24
30 Year Cash-out Refi 7.27% 3/28/24
15 Year Conventional Purchase 6.57% 3/28/24
15 Year Conventional Refi 7.82% 3/28/24
15 Year Cash-out Refi 7.82% 3/28/24
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

923

Origination Dollar Volume (All Markets)

$296,505,000

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

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

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

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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

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. 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 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

    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 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

    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 for loans was 3.02%, while their most frequently originated rate bucket for loans was 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 or Islander 1 $45,000 $45,000 $0 3.75%

    Approval Rates

    Total approvals of all applications
    96.14%

    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 origination
    59.59%

    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

    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%