La Financial Federal Credit Union Mortgage Rates, Fees & Info
Pasadena, CALEI: 254900C303DGB8I7GG88
Tax ID: 95-1644513
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Mortgage Data
Review & Overview
La Financial Federal Credit Union is a smaller credit union specializing in Cash Out Refi and Home Purchase loans. La Financial Federal Credit Union has a high proportion of conventional loans. Their top markets by origination volume include: Los Angeles, Lake Havasu City, Riverside, Oxnard, and Visalia among others. We have data for 7 markets. (Some data included below & more in-depth data is available with an active subscription.)La Financial Federal Credit Union has an 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.
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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| 30 Year Conventional Purchase | 6.27% | 4/28/24 |
| 30 Year Conventional Refi | 6.27% | 4/28/24 |
| 30 Year Cash-out Refi | 6.27% | 4/28/24 |
| 15 Year Conventional Purchase | 5.68% | 4/28/24 |
| 15 Year Conventional Refi | 5.68% | 4/28/24 |
| 15 Year Cash-out Refi | 5.68% | 4/28/24 |
| 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. | ||
La Financial 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
181Origination Dollar Volume (All Markets)
$56,285,000Awards
LA Financial Federal Credit Union - 2022
LA Financial 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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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) | 108 | $38,420,000 | $355,741 | $5,432 | 5.18% |
| LAKE HAVASU CITY-KINGMAN, AZ (FHA|USDA|VA) | 43 | $7,345,000 | $170,814 | $3,157 | 5.10% |
| RIVERSIDE-SAN BERNARDINO-ONTARIO, CA (FHA|USDA|VA) | 20 | $6,080,000 | $304,000 | $5,643 | 4.99% |
| OXNARD-THOUSAND OAKS-VENTURA, CA (FHA|USDA|VA) | 7 | $3,465,000 | $495,000 | $7,899 | 5.07% |
| VISALIA, CA (FHA|USDA|VA) | 1 | $565,000 | $565,000 | $8,055 | 3.13% |
| BAKERSFIELD, CA (FHA|USDA|VA) | 1 | $355,000 | $355,000 | $7,925 | 5.38% |
| Outside of Metro Areas | 1 | $55,000 | $55,000 | $1,494 | 5.88% |
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.
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Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 181 | $56,285,000 | $310,967 | $5,017 | 5.13% |
For 2022, La Financial Federal Credit Union's most frequently originated type of loan was Conventional, with 181 originations.
Loan Reason
For 2022, La Financial Federal Credit Union's most frequently cited loan purpose was Cash Out Refi, with 138 originations. The 2nd most popular reason was Home Purchase, with 28 originations.
Loan Duration/Length
For 2022, La Financial Federal Credit Union's most frequently cited loan duration was 30 Year, with 95 originations. The 2nd most popular length was 20 Year, with 55 originations.
Origination Fees/Closing Costs
La Financial Federal Credit Union's average total fees were $7,920, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 90 originations.
Interest Rates
During 2022, La Financial Federal Credit Union's average interest rate for loans was 4.12%, while their most frequently originated rate bucket for loans was 3-4%, with 39 originations.
Loan Sizing
2022 saw La Financial Federal Credit Union place emphasis on $100,000 or less loans with 55 originations, totaling $3,285,000 in origination value.
Applicant Income
La Financial Federal Credit Union lent most frequently to those with incomes in the $100k-150k range, with 54 originations. The second most popular income band? $150k-250k, with 33 originations.
Applicant Debt to Income Ratio
La Financial Federal Credit Union lent most frequently to those with DTI ratios of 30-36%, with 30 originations. The next most common DTI ratio? 20-30%, with 28 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications87.73%
La Financial Federal Credit Union has an average approval rate.
Pick Rate
Approvals leading to origination50.83%
La Financial 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 | 181 | $56,285,000 | $310,967 |