Louviers Federal Credit Union Mortgage Rates, Fees & Info
Newark, DELEI: 254900CXHYTQMHXRX530
Tax ID: 23-7001285
Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data
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Mortgage Data
Review & Overview
Louviers Federal Credit Union is a smaller credit union specializing in Home Improvement and Cash Out Refi loans. Louviers Federal Credit Union has a high proportion of conventional loans. Their top two markets are Philadelphia and Salisbury .Louviers Federal Credit Union has an above average approval rate when compared to the average across all lenders. They have an above average pick rate when compared to similar lenders.
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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| 30 Year Conventional Purchase | 6.64% | 4/21/24 |
| 30 Year Cash-out Refi | 6.56% | 4/21/24 |
| 15 Year Conventional Purchase | 6.30% | 4/21/24 |
| 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. | ||
Louviers 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
39Origination Dollar Volume (All Markets)
$3,415,000Top 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 |
|---|---|---|---|---|---|
| Philadelphia-Camden-Wilmington, PA-NJ-DE-MD (FHA|USDA|VA) | 37 | $3,285,000 | $88,784 | $266 | 6.49% |
| SALISBURY, MD-DE (FHA|USDA|VA) | 2 | $130,000 | $65,000 | $0 | 8.50% |
Similar Lenders
We use machine learning to identify the top lenders compared against Louviers 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 | 26 | $2,620,000 | $100,769 | $266 | 5.79% |
| HELOC | 13 | $795,000 | $61,154 | n/a | 8.19% |
For 2023, Louviers Federal Credit Union's most frequently originated type of loan was Conventional, with 26 originations. Their 2nd most popular type was HELOC, with 13 originations.
Loan Reason
For 2023, Louviers Federal Credit Union's most frequently cited loan purpose was Home Improvement, with 18 originations. The 2nd most popular reason was Cash Out Refi, with 10 originations.
Loan Duration/Length
For 2023, Louviers Federal Credit Union's most frequently cited loan duration was 15 Year, with 15 originations. The 2nd most popular length was 20 Year, with 13 originations.
Origination Fees/Closing Costs
| Origination Fee/Closing Cost | Originations | Total Value | Average Loan |
|---|---|---|---|
| $<1k | 19 | $1,715,000 | $90,263 |
Louviers Federal Credit Union's average total fees were $0, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 19 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 5-6% | 20 | $2,230,000 | $111,500 |
| Over 8% | 8 | $430,000 | $53,750 |
| 7-8% | 5 | $365,000 | $73,000 |
| 4-5% | 3 | $95,000 | $31,667 |
| 6-7% | 3 | $295,000 | $98,333 |
During 2023, Louviers Federal Credit Union's average interest rate for loans was 0.00%, while their most frequently originated rate bucket for loans was 5-6%, with 20 originations.
Loan Sizing
2023 saw Louviers Federal Credit Union place emphasis on $100,000 or less loans with 26 originations, totaling $1,300,000 in origination value.
Applicant Income
Louviers Federal Credit Union lent most frequently to those with incomes in the $100k-150k range, with 10 originations. The second most popular income band? $50k-75k, with 10 originations.
Applicant Debt to Income Ratio
Louviers Federal Credit Union lent most frequently to those with DTI ratios of 20-30%, with 11 originations. The next most common DTI ratio? 30-36%, with 5 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications91.11%
Louviers Federal Credit Union has an average approval rate.
Pick Rate
Approvals leading to origination94.87%
Louviers Federal Credit Union has an average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| 280.94 | 1 | $25,000 | $25,000 |
| 325.53 | 1 | $105,000 | $105,000 |
| 328.94 | 1 | $75,000 | $75,000 |
| 335.69 | 1 | $65,000 | $65,000 |
| 358.73 | 1 | $55,000 | $55,000 |
| 358.94 | 1 | $25,000 | $25,000 |
| 363.94 | 1 | $25,000 | $25,000 |
| 364.22 | 1 | $105,000 | $105,000 |
| 364.73 | 1 | $75,000 | $75,000 |
| 372.81 | 1 | $85,000 | $85,000 |
| 374.69 | 1 | $15,000 | $15,000 |
| 397.44 | 1 | $85,000 | $85,000 |
| 699.81 | 1 | $55,000 | $55,000 |
| NA | 26 | $2,620,000 | $100,769 |