Pasadena Service Federal Credit Union Mortgage Rates, Fees & Info

Pasadena, CA

LEI: 254900E0QZ2LAI85KB31

Tax ID: 95-1645266

Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data

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Mortgage Data

  • Originations
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • Similar Lenders
  • Loan Length
  • Loan to Value Info
  • Debt-to-Income
  • Applicant Income
  • Ethnicity Info
  • Approval & Pick Rates
  • Points and Fees
  • Origination Fees (Closing Costs)

    • Review & Overview

    Pasadena Service Federal Credit Union is a smaller credit union specializing in Refi loans. Pasadena Service Federal Credit Union has a high proportion of conventional loans. Their top two markets are Los Angeles and Oxnard .

    Pasadena Service Federal Credit Union has an above average approval rate when compared to the average across all lenders. Pasadena Service Federal Credit Union is typically a high 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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    Originations

    19

    Origination Dollar Volume (All Markets)

    $10,415,000

    Awards

    PASADENA SERVICE FEDERAL CREDIT UNION 30 Year Conventional Loans gold PASADENA SERVICE FEDERAL CREDIT UNION 30 Year Conventional Loans gold
    Show all (2) 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) 18 $9,750,000 $541,667 $9,662 3.93%
    OXNARD-THOUSAND OAKS-VENTURA, CA (FHA|USDA|VA) 1 $665,000 $665,000 $9,755 3.88%
    Pasadena Service Federal Credit Union's top markets include Los Angeles and Oxnard among others.

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

    • Similar Lenders

    We use machine learning to identify the top lenders compared against PASADENA SERVICE 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: 203
    LBS FINANCIAL
    Similarity Rank: 210
    SAN DIEGO COUNTY CREDIT UNION
    Similarity Rank: 255
    LA Financial Federal Credit Union
    Similarity Rank: 321
    Water and Power Community Credit Union
    Similarity Rank: 500
    Christian Community Credit Union
    Similarity Rank: 515
    PASADENA SERVICE FEDERAL CREDIT UNION
    Similarity Rank: 612
    Third Federal Savings and Loan Association of Cleveland
    Similarity Rank: 614
    American Interbanc Mortgage
    Similarity Rank: 728
    FOOTHILL FEDERAL CREDIT UNION
    Similarity Rank: 732

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 19 $10,415,000 $548,158 $9,666 3.93%

    For 2018, Pasadena Service Federal Credit Union's most frequently originated type of loan was Conventional, with 19 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Refi 15 $8,405,000 $560,333 $9,244 3.93%
    Home Purchase 4 $2,010,000 $502,500 $11,251 3.91%

    For 2018, Pasadena Service Federal Credit Union's most frequently cited loan purpose was Refi, with 15 originations. The 2nd most popular reason was Home Purchase, with 4 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 18 $9,400,000 $522,222 $9,405 3.92%
    20 Year 1 $1,015,000 $1,015,000 $14,369 4.13%

    For 2018, Pasadena Service Federal Credit Union's most frequently cited loan duration was 30 Year, with 18 originations. The 2nd most popular length was 20 Year, with 1 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $5k+ 14 $9,120,000 $651,429
    $3k-4k 3 $825,000 $275,000
    $2k-3k 2 $470,000 $235,000

    Pasadena Service Federal Credit Union's average total fees were $9,405, while their most frequently occuring range of origination fees (closing costs) were in the $5k+ bucket, with 14 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    3-4% 14 $7,870,000 $562,143
    4-5% 5 $2,545,000 $509,000

    During 2018, Pasadena Service Federal Credit Union's average interest rate for loans was 3.92%, while their most frequently originated rate bucket for loans was 3-4%, with 14 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $400k-600k 7 $3,385,000 $483,571 $9,369 3.91%
    $600k-1MM 6 $4,760,000 $793,333 $12,029 3.83%
    $200k-400k 4 $1,070,000 $267,500 $6,507 3.94%
    $100k-200k 1 $185,000 $185,000 $5,510 4.38%
    $1MM+ 1 $1,015,000 $1,015,000 $14,369 4.13%

    2018 saw Pasadena Service Federal Credit Union place emphasis on $400k-600k loans with 7 originations, totaling $3,385,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 6 $2,560,000 $426,667 $8,103 3.85%
    $150k-250k 6 $3,930,000 $655,000 $10,600 3.96%
    $250k+ 3 $2,405,000 $801,667 $12,756 4.17%
    $75k-100k 3 $1,315,000 $438,333 $9,813 3.79%
    $50k-75k 1 $205,000 $205,000 $3,736 3.88%

    Pasadena Service Federal Credit Union lent most frequently to those with incomes in the $100k-150k range, with 6 originations. The second most popular income band? $150k-250k, with 6 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 4 $1,250,000 $312,500 $6,179 3.91%
    30-36% 3 $1,295,000 $431,667 $7,743 4.08%
    43% 2 $1,810,000 $905,000 $13,074 3.63%
    46% 2 $1,140,000 $570,000 $10,548 3.88%
    39% 2 $1,510,000 $755,000 $12,043 3.88%
    <20% 1 $445,000 $445,000 $10,328 4.75%
    48% 1 $1,015,000 $1,015,000 $14,369 4.13%
    37% 1 $465,000 $465,000 $8,160 3.75%
    42% 1 $465,000 $465,000 $10,228 3.75%
    45% 1 $635,000 $635,000 $10,251 3.75%
    47% 1 $385,000 $385,000 $11,050 3.88%

    Pasadena Service Federal Credit Union lent most frequently to those with DTI ratios of 20-30%, with 4 originations. The next most common DTI ratio? 30-36%, with 3 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 17 $8,955,000 $526,765 $9,351 3.87%
    Not provided 2 $1,460,000 $730,000 $12,349 4.44%

    Approval Rates

    Total approvals of all applications
    100.00%

    Pasadena Service 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

    Points and Fees

    Points Originations Total Value Average Loan
    NA 19 $10,415,000 $548,158

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Single Family (1-4 Units):Site-Built 19 $10,415,000 $548,158

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 2 $400,000 $200,000 $5,837 4.31%
    40-60% 4 $1,950,000 $487,500 $7,836 3.88%
    60-80% 9 $6,125,000 $680,556 $11,283 3.78%
    80-100% 4 $1,940,000 $485,000 $9,774 4.13%