Los Angeles Federal Credit Union Mortgage Rates, Fees & Info

Glendale, CA

LEI: 254900KD58MIT0K3NP70

Tax ID: 95-1652836

5 stars - out of 5 stars, based on 16 reviews

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

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Mortgage Data

  • SimulatedRates™
  • Review & Overview

    Los Angeles Federal Credit Union is a smaller credit union specializing in loans. Los Angeles Federal Credit Union has a high proportion of conventional loans. Their top markets by origination volume include: Los Angeles, Riverside, Phoenix, Santa Rosa, and Oxnard among others. We have data for 10 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Los Angeles 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. Los Angeles 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.

    Mortgage professionals: We have various tools to make your lives easier. Contact us to see how we can help with your market research, analytics or advertising needs.


    SimulatedRates™

    Mortgage Type
    Simulated Rate Simulation Date
    30 Year Conventional Purchase 5.68% 12/4/22
    30 Year Conventional Refi 6.49% 12/4/22
    30 Year Cash-out Refi 10.21% 12/4/22
    15 Year Conventional Refi 6.00% 12/4/22
    15 Year Cash-out Refi 6.00% 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

    272

    Origination Dollar Volume (All Markets)

    $80,640,000
    Show all (5) awards

    Relative Rate

    Los Angeles Federal Credit Union's average 30 year fixed mortgage rate was 2.89%.

    The 2021 average 30 year fixed rate mortgage across all markets and lenders was 3.15%.

    This yields a difference of -0.26%.

    Relative Fees (Closing Costs)

    Los Angeles Federal Credit Union's average total fees/closing costs for a 30 year fixed rate mortgage were $2,304.

    The average total origination fees for 30 year fixed rate mortgages across all lenders (for all loan values, including both points & up-front fees in addition to origination fees) were $4,750.

    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) 235 $70,765,000 $301,128 $2,189 2.83%
    RIVERSIDE-SAN BERNARDINO-ONTARIO, CA (FHA|USDA|VA) 25 $6,365,000 $254,600 $2,062 2.75%
    PHOENIX-MESA-CHANDLER, AZ (FHA|USDA|VA) 2 $790,000 $395,000 $2,258 2.63%
    SANTA ROSA-PETALUMA, CA (FHA|USDA|VA) 2 $750,000 $375,000 $3,169 2.44%
    OXNARD-THOUSAND OAKS-VENTURA, CA (FHA|USDA|VA) 1 $555,000 $555,000 $2,263 2.75%
    SACRAMENTO-ROSEVILLE-FOLSOM, CA (FHA|USDA|VA) 1 $475,000 $475,000 $2,423 3.25%
    BAKERSFIELD, CA (FHA|USDA|VA) 2 $410,000 $205,000 $2,889 2.88%
    Outside of Metro Areas 1 $205,000 $205,000 $1,405 2.63%
    LAS VEGAS-HENDERSON-PARADISE, NV (FHA|USDA|VA) 2 $180,000 $90,000 $1,344 4.88%
    LAKE HAVASU CITY-KINGMAN, AZ (FHA|USDA|VA) 1 $145,000 $145,000 $1,409 2.38%
    Los Angeles Federal Credit Union's top markets include Los Angeles, Riverside, Phoenix, Santa Rosa, and Oxnard among others.

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

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

    Christian Community Credit Union
    Similarity Rank: 354
    Credence Funding Corporation
    Similarity Rank: 404
    Chaffey Federal Credit Union
    Similarity Rank: 966
    LA Financial Federal Credit Union
    Similarity Rank: 1374
    POPA FEDERAL CREDIT UNION
    Similarity Rank: 1380
    Los Angeles Federal Credit Union
    Similarity Rank: 1400
    ARROWHEAD CENTRAL CREDIT UNION
    Similarity Rank: 1488
    FRONTWAVE
    Similarity Rank: 1520

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 272 $80,640,000 $296,471 $2,179 2.83%

    For 2021, Los Angeles Federal Credit Union's most frequently originated type of loan was Conventional, with 272 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Refi 263 $75,915,000 $288,650 $2,128 2.82%
    Home Purchase 6 $3,160,000 $526,667 $4,053 2.90%
    Cash Out Refi 3 $1,565,000 $521,667 $2,902 3.38%

    For 2021, Los Angeles Federal Credit Union's most frequently cited loan purpose was Refi, with 263 originations. The 2nd most popular reason was Home Purchase, with 6 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 141 $52,385,000 $371,525 $2,304 2.89%
    15 Year 98 $23,520,000 $240,000 $2,110 2.76%
    10 Year 32 $4,710,000 $147,188 $1,898 2.70%
    5 Year 1 $25,000 $25,000 $331 5.25%

    For 2021, Los Angeles Federal Credit Union's most frequently cited loan duration was 30 Year, with 141 originations. The 2nd most popular length was 15 Year, with 98 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 271 $80,425,000 $296,771
    $1k-2k 1 $215,000 $215,000

    Los Angeles Federal Credit Union's average total fees were $2,304, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 271 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    <2.5% 116 $28,050,000 $241,810
    2.5-3% 82 $28,830,000 $351,585
    3-4% 65 $22,975,000 $353,462
    5-6% 8 $710,000 $88,750
    7-8% 1 $75,000 $75,000

    During 2021, Los Angeles Federal Credit Union's average interest rate for loans was 2.89%, while their most frequently originated rate bucket for loans was <2.5%, with 116 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 115 $32,185,000 $279,870 $2,167 2.71%
    $100k-200k 71 $11,215,000 $157,958 $1,931 2.75%
    $400k-600k 48 $23,020,000 $479,583 $2,543 2.88%
    $100,000 or less 22 $1,560,000 $70,909 $1,530 3.44%
    $600k-1MM 14 $10,260,000 $732,857 $2,871 3.03%
    $1MM+ 2 $2,400,000 $1,200,000 $5,254 3.38%

    2021 saw Los Angeles Federal Credit Union place emphasis on $200k-400k loans with 115 originations, totaling $32,185,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 68 $21,660,000 $318,529 $2,189 2.80%
    $50k-75k 62 $13,660,000 $220,323 $2,044 2.74%
    $75k-100k 57 $14,345,000 $251,667 $2,114 2.92%
    $150k-250k 45 $17,075,000 $379,444 $2,253 2.79%
    $250k+ 21 $9,825,000 $467,857 $2,522 3.03%
    $50k or less 19 $4,075,000 $214,474 $2,227 2.84%

    Los Angeles Federal Credit Union lent most frequently to those with incomes in the $100k-150k range, with 68 originations. The second most popular income band? $50k-75k, with 62 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 69 $17,865,000 $258,913 $2,143 2.65%
    30-36% 51 $16,315,000 $319,902 $2,340 2.71%
    <20% 36 $9,180,000 $255,000 $2,058 2.66%
    43% 13 $4,835,000 $371,923 $2,198 3.34%
    41% 11 $3,065,000 $278,636 $2,099 2.68%
    45% 11 $4,265,000 $387,727 $2,352 3.27%
    42% 10 $3,940,000 $394,000 $2,354 3.33%
    38% 10 $2,880,000 $288,000 $2,043 2.94%
    39% 10 $3,080,000 $308,000 $2,117 2.98%
    36% 8 $2,860,000 $357,500 $2,397 2.56%
    40% 8 $1,740,000 $217,500 $2,102 2.86%
    44% 7 $1,845,000 $263,571 $1,951 3.16%
    47% 6 $2,300,000 $383,333 $2,498 2.67%
    46% 6 $1,090,000 $181,667 $1,785 3.06%
    37% 4 $1,620,000 $405,000 $2,020 2.63%
    50-60% 4 $1,570,000 $392,500 $2,476 2.84%
    49% 3 $995,000 $331,667 $1,880 4.21%
    >60% 3 $825,000 $275,000 $2,284 2.67%
    48% 2 $370,000 $185,000 $1,482 4.38%

    Los Angeles Federal Credit Union lent most frequently to those with DTI ratios of 20-30%, with 69 originations. The next most common DTI ratio? 30-36%, with 51 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 106 $31,480,000 $296,981 $2,167 2.81%
    Not provided 77 $23,415,000 $304,091 $2,131 2.93%
    Asian 39 $11,805,000 $302,692 $2,236 2.71%
    Black 33 $8,075,000 $244,697 $2,219 2.80%
    Filipino 7 $2,795,000 $399,286 $1,954 3.20%
    Asian Indian 1 $1,195,000 $1,195,000 $7,086 3.00%
    American Indian 5 $885,000 $177,000 $1,911 2.48%
    Other Asian 2 $590,000 $295,000 $1,891 2.63%
    Native Hawaiian or Islander 2 $400,000 $200,000 $2,233 2.56%

    Approval Rates

    Total approvals of all applications
    90.38%

    Los Angeles Federal Credit Union has an average approval rate.

    Pick Rate

    Approvals leading to origination
    61.03%

    Los Angeles 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 272 $80,640,000 $296,471

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    272 $80,640,000 $296,471

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 90 $19,430,000 $215,889 $1,949 2.69%
    40-60% 81 $28,725,000 $354,630 $2,346 2.81%
    60-80% 59 $25,095,000 $425,339 $2,546 2.93%
    80-100% 6 $3,470,000 $578,333 $2,553 2.92%
    Under 20% 36 $3,920,000 $108,889 $1,716 3.02%