La Financial Federal Credit Union Mortgage Rates, Fees & Info

Pasadena, CA

LEI: 254900C303DGB8I7GG88

Tax ID: 95-1644513

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

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Mortgage Data

  • SimulatedRates™
  • Review & Overview

    La Financial Federal Credit Union is a smaller credit union specializing in Cash Out Refi and Refi loans. La Financial Federal Credit Union has a high proportion of conventional loans. Their top two markets are Los Angeles and Lake Havasu City .

    La Financial 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. La Financial Federal Credit Union is typically an average 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
    30 Year Conventional Purchase 6.47% 12/4/22
    30 Year Conventional Refi 6.43% 12/4/22
    30 Year Cash-out Refi 6.78% 12/4/22
    15 Year Conventional Purchase 5.76% 12/4/22
    15 Year Conventional Refi 5.76% 12/4/22
    15 Year Cash-out Refi 5.76% 12/4/22
    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.


    Originations

    421

    Origination Dollar Volume (All Markets)

    $150,985,000

    Awards

    LA Financial Federal Credit Union 30 Year Conventional Loans silver
    Show all (1) 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) 247 $104,365,000 $422,530 $5,666 3.19%
    Outside of Metro Areas 60 $24,850,000 $414,167 $5,524 3.15%
    LAKE HAVASU CITY-KINGMAN, AZ (FHA|USDA|VA) 114 $21,770,000 $190,965 $3,644 3.19%
    La Financial Federal Credit Union's top markets include Los Angeles and Lake Havasu City among others.

    Their top states include:
  • California (FHA|USDA|VA)
  • Arizona (FHA|USDA|VA)
  • Similar Lenders

    We use machine learning to identify the top lenders compared against LA Financial Federal Credit Union based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.

    HOMEAMERICAN MORTGAGE CORPORATION
    Similarity Rank: 363
    Christian Community Credit Union
    Similarity Rank: 716
    WINNPOINTE CORPORATION
    Similarity Rank: 924
    CHOICE LENDING CORP.
    Similarity Rank: 1035
    VICTORIA FINANCIAL CORP.
    Similarity Rank: 1184
    FFC Mortgage Corp.
    Similarity Rank: 1428
    TRI-EMERALD FINANCIAL GROUP, INC.
    Similarity Rank: 1530
    Residential Mortgage Solutions, Inc.
    Similarity Rank: 1615
    FOOTHILL FEDERAL CREDIT UNION
    Similarity Rank: 1683

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 421 $150,985,000 $358,634 $5,098 3.18%

    For 2020, La Financial Federal Credit Union's most frequently originated type of loan was Conventional, with 421 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Cash Out Refi 218 $71,340,000 $327,248 $5,760 3.28%
    Refi 170 $64,690,000 $380,529 $4,004 3.05%
    Home Purchase 33 $14,955,000 $453,182 $6,365 3.22%

    For 2020, La Financial Federal Credit Union's most frequently cited loan purpose was Cash Out Refi, with 218 originations. The 2nd most popular reason was Refi, with 170 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 309 $125,445,000 $405,971 $5,649 3.20%
    15 Year 57 $13,365,000 $234,474 $3,737 2.86%
    20 Year 42 $10,860,000 $258,571 $3,818 3.41%
    10 Year 10 $1,170,000 $117,000 $2,402 3.35%
    5 Year 3 $145,000 $48,333 $1,162 3.88%

    For 2020, La Financial Federal Credit Union's most frequently cited loan duration was 30 Year, with 309 originations. The 2nd most popular length was 15 Year, with 57 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 111 $35,765,000 $322,207
    $1k-2k 85 $16,745,000 $197,000
    $5k+ 82 $43,460,000 $530,000
    $2k-3k 78 $27,530,000 $352,949
    $3k-4k 41 $15,515,000 $378,415
    $4k-5k 24 $11,970,000 $498,750

    La Financial Federal Credit Union's average total fees were $5,649, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 111 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    3-4% 216 $91,200,000 $422,222
    2.5-3% 183 $55,665,000 $304,180
    <2.5% 9 $2,895,000 $321,667
    5-6% 8 $940,000 $117,500
    4-5% 5 $285,000 $57,000

    During 2020, La Financial Federal Credit Union's average interest rate for loans was 3.20%, while their most frequently originated rate bucket for loans was 3-4%, with 216 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 175 $51,545,000 $294,543 $4,438 3.12%
    $400k-600k 83 $39,925,000 $481,024 $6,656 3.15%
    $100k-200k 81 $12,015,000 $148,333 $3,400 3.15%
    $600k-1MM 42 $31,020,000 $738,571 $8,979 3.18%
    $100,000 or less 29 $1,955,000 $67,414 $2,145 3.69%
    $1MM+ 11 $14,525,000 $1,320,455 $9,325 3.30%

    2020 saw La Financial Federal Credit Union place emphasis on $200k-400k loans with 175 originations, totaling $51,545,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $150k-250k 84 $38,300,000 $455,952 $5,674 3.23%
    $75k-100k 82 $22,570,000 $275,244 $4,328 3.18%
    $100k-150k 80 $28,220,000 $352,750 $5,174 3.14%
    $50k-75k 67 $15,925,000 $237,687 $4,281 3.16%
    $50k or less 65 $13,815,000 $212,538 $3,938 3.12%
    $250k+ 42 $31,800,000 $757,143 $8,450 3.29%

    La Financial Federal Credit Union lent most frequently to those with incomes in the $150k-250k range, with 84 originations. The second most popular income band? $75k-100k, with 82 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 101 $31,175,000 $308,663 $4,304 3.11%
    30-36% 88 $35,560,000 $404,091 $5,595 3.18%
    <20% 42 $13,590,000 $323,571 $4,666 3.10%
    44% 19 $6,015,000 $316,579 $5,760 3.28%
    36% 18 $7,310,000 $406,111 $5,854 3.27%
    39% 17 $5,555,000 $326,765 $3,726 3.19%
    45% 14 $6,070,000 $433,571 $4,961 3.23%
    40% 14 $5,350,000 $382,143 $5,316 3.12%
    41% 13 $5,225,000 $401,923 $8,194 3.52%
    38% 13 $4,915,000 $378,077 $4,668 3.30%
    43% 13 $4,655,000 $358,077 $4,767 3.16%
    37% 12 $5,170,000 $430,833 $5,421 3.30%
    42% 10 $2,410,000 $241,000 $4,538 3.33%
    48% 8 $3,130,000 $391,250 $5,206 2.97%
    47% 7 $3,095,000 $442,143 $4,777 3.20%
    49% 5 $1,795,000 $359,000 $7,025 3.00%
    46% 4 $1,530,000 $382,500 $7,564 3.81%
    50-60% 4 $950,000 $237,500 $5,095 3.19%

    La Financial Federal Credit Union lent most frequently to those with DTI ratios of 20-30%, with 101 originations. The next most common DTI ratio? 30-36%, with 88 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 274 $90,970,000 $332,007 $4,765 3.15%
    Not provided 73 $28,375,000 $388,699 $5,116 3.20%
    Black 41 $18,735,000 $456,951 $7,318 3.31%
    Asian 22 $8,340,000 $379,091 $4,357 3.16%
    Native Hawaiian or Islander 9 $4,045,000 $449,444 $6,191 3.35%
    American Indian 2 $520,000 $260,000 $7,818 3.50%

    Approval Rates

    Total approvals of all applications
    93.11%

    La Financial Federal Credit Union has an average approval rate.

    Pick Rate

    Approvals leading to origination
    84.56%

    La Financial Federal Credit Union has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 421 $150,985,000 $358,634

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Single Family (1-4 Units):Site-Built 421 $150,985,000 $358,634

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 65 $14,805,000 $227,769 $3,904 3.02%
    40-60% 137 $46,135,000 $336,752 $4,155 3.05%
    60-80% 148 $65,500,000 $442,568 $6,452 3.21%
    80-100% 43 $21,755,000 $505,930 $7,239 3.22%
    Under 20% 28 $2,790,000 $99,643 $2,041 4.02%