Los Angeles Federal Credit Union Mortgage Rates, Fees & Info

Glendale, CA

LEI: 254900KD58MIT0K3NP70

Tax ID: 95-1652836

5 stars - Updated: 11/17/24 - out of 5 stars, based on 12 reviews

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

Jump to:

  • SimulatedRates™
  • Mortgage Calculator

    • Mortgage Data

  • Originations
  • Relative Rates
  • Relative Fees
  • 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

    Los Angeles Federal Credit Union is a smaller credit union specializing in Refi and Home Purchase loans. Los Angeles Federal Credit Union has a high proportion of conventional loans. Their top markets by origination volume include: Los Angeles, Riverside, San Diego, Santa Maria, and Redding among others. We have data for 6 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Los Angeles 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. Los Angeles 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 5.80% 11/17/24
    30 Year Conventional Refi 5.92% 11/17/24
    30 Year Cash-out Refi 5.64% 11/17/24
    15 Year Conventional Refi 6.33% 11/17/24
    15 Year Cash-out Refi 6.33% 11/17/24
    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.

    Los Angeles Federal Credit Union Mortgage Calculator






    Your Estimates

    Estimated Loan Payment: Update the calculator values and click calculate payment!

    This is not an official calculator from Los Angeles Federal Credit Union. It uses our SimulatedRate™ technology, basic math and reasonable assumptions to calculate mortgage payments derived from our simulations and your inputs.

    The default purchase price is the median sales price across the US for 2022Q4, per FRED.


    Originations

    149

    Origination Dollar Volume (All Markets)

    $37,015,000

    Awards

    Los Angeles Federal Credit Union 30 Year Conventional Loans gold Los Angeles Federal Credit Union 30 Year Conventional Loans gold Los Angeles Federal Credit Union 30 Year Conventional Loans gold
    Show all (3) awards

    Relative Rate

    Los Angeles Federal Credit Union's average 30 year fixed mortgage rate was 5.13%.

    The 2023 average 30 year fixed rate mortgage across all markets and lenders was 6.48%.

    This yields a difference of -1.36%.

    Relative Fees (Closing Costs)

    Los Angeles Federal Credit Union's average total fees/closing costs for a 30 year fixed rate mortgage were $5,021.

    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 $9,089.

    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) 125 $32,255,000 $258,040 $1,581 6.05%
    RIVERSIDE-SAN BERNARDINO-ONTARIO, CA (FHA|USDA|VA) 19 $2,175,000 $114,474 $650 6.04%
    SAN DIEGO-CHULA VISTA-CARLSBAD, CA (FHA|USDA|VA) 2 $1,360,000 $680,000 $6,012 6.13%
    SANTA MARIA-SANTA BARBARA, CA (FHA|USDA|VA) 1 $435,000 $435,000 $3,973 5.38%
    REDDING, CA (FHA|USDA|VA) 1 $405,000 $405,000 $2,319 5.13%
    San Francisco-Oakland-Berkeley, CA (FHA|USDA|VA) 1 $385,000 $385,000 $2,769 7.38%
    Los Angeles Federal Credit Union's top markets include Los Angeles, Riverside, San Diego, Santa Maria, and Redding among others.

    Their top states include:
  • California (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.

    Los Angeles Federal Credit Union
    Similarity Rank: 72
    LBS FINANCIAL
    Similarity Rank: 258
    Water and Power Community Credit Union
    Similarity Rank: 261
    SOUTHLAND CREDIT UNION
    Similarity Rank: 342
    FIRST ENTERTAINMENT
    Similarity Rank: 351
    ARROWHEAD CENTRAL CREDIT UNION
    Similarity Rank: 477
    ALTURA
    Similarity Rank: 560
    LA Financial Federal Credit Union
    Similarity Rank: 660
    FRONTWAVE
    Similarity Rank: 660
    I.L.W.U. CREDIT UNION
    Similarity Rank: 680

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 149 $37,015,000 $248,423 $1,551 6.05%

    For 2023, Los Angeles Federal Credit Union's most frequently originated type of loan was Conventional, with 149 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Refi 119 $17,945,000 $150,798 $735 6.15%
    Home Purchase 21 $17,355,000 $826,429 $6,562 5.34%
    Home Improvement 6 $1,170,000 $195,000 $348 6.58%
    Cash Out Refi 3 $545,000 $181,667 $546 5.92%

    For 2023, Los Angeles Federal Credit Union's most frequently cited loan purpose was Refi, with 119 originations. The 2nd most popular reason was Home Purchase, with 21 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    15 Year 87 $12,095,000 $139,023 $501 6.40%
    30 Year 34 $22,410,000 $659,118 $5,021 5.13%
    10 Year 20 $2,180,000 $109,000 $563 6.19%
    Other 5 $235,000 $47,000 $367 5.90%
    5 Year 3 $95,000 $31,667 $511 5.50%

    For 2023, Los Angeles Federal Credit Union's most frequently cited loan duration was 15 Year, with 87 originations. The 2nd most popular length was 30 Year, with 34 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 147 $36,255,000 $246,633

    Los Angeles Federal Credit Union's average total fees were $5,021, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 147 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    5-6% 76 $20,140,000 $265,000
    6-7% 57 $9,525,000 $167,105
    4-5% 11 $6,445,000 $585,909
    7-8% 4 $730,000 $182,500
    3-4% 1 $175,000 $175,000

    During 2023, Los Angeles Federal Credit Union's average interest rate for loans was 5.13%, while their most frequently originated rate bucket for loans was 5-6%, with 76 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 63 $3,905,000 $61,984 $369 6.27%
    $100k-200k 33 $4,575,000 $138,636 $584 6.35%
    $200k-400k 27 $7,865,000 $291,296 $1,547 5.82%
    $600k-1MM 11 $8,285,000 $753,182 $5,980 5.26%
    $400k-600k 9 $4,425,000 $491,667 $3,956 5.33%
    $1MM+ 6 $7,960,000 $1,326,667 $7,966 5.58%

    2023 saw Los Angeles Federal Credit Union place emphasis on $100,000 or less loans with 63 originations, totaling $3,905,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $150k-250k 46 $10,950,000 $238,043 $1,417 6.02%
    $100k-150k 40 $5,940,000 $148,500 $910 6.15%
    $250k+ 33 $17,035,000 $516,212 $3,187 5.87%
    $75k-100k 18 $1,960,000 $108,889 $811 6.13%
    $50k-75k 9 $725,000 $80,556 $600 6.60%
    $50k or less 3 $405,000 $135,000 $1,765 4.79%

    Los Angeles Federal Credit Union lent most frequently to those with incomes in the $150k-250k range, with 46 originations. The second most popular income band? $100k-150k, with 40 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 31 $6,985,000 $225,323 $1,368 5.87%
    30-36% 31 $10,605,000 $342,097 $2,195 6.00%
    <20% 9 $2,765,000 $307,222 $2,395 6.04%
    42% 8 $1,330,000 $166,250 $1,154 6.31%
    39% 8 $2,470,000 $308,750 $2,161 5.69%
    43% 7 $1,695,000 $242,143 $1,673 5.79%
    37% 7 $1,905,000 $272,143 $1,508 6.23%
    45% 6 $1,130,000 $188,333 $1,192 6.08%
    50-60% 6 $730,000 $121,667 $355 6.21%
    36% 5 $955,000 $191,000 $849 5.88%
    38% 5 $1,225,000 $245,000 $1,797 5.83%
    46% 5 $685,000 $137,000 $1,000 6.33%
    47% 5 $775,000 $155,000 $785 6.35%
    44% 4 $1,050,000 $262,500 $1,969 6.66%
    41% 3 $305,000 $101,667 $373 6.33%
    40% 3 $1,425,000 $475,000 $2,010 6.08%
    >60% 2 $310,000 $155,000 $600 5.88%
    48% 2 $280,000 $140,000 $364 7.38%
    49% 2 $390,000 $195,000 $1,258 6.13%

    Los Angeles Federal Credit Union lent most frequently to those with DTI ratios of 20-30%, with 31 originations. The next most common DTI ratio? 30-36%, with 31 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    Asian 32 $12,410,000 $387,813 $2,570 5.80%
    White 50 $10,950,000 $219,000 $1,420 5.97%
    Not provided 47 $8,405,000 $178,830 $933 6.27%
    Black 13 $1,565,000 $120,385 $751 6.26%
    Chinese 2 $1,510,000 $755,000 $4,501 5.44%
    American Indian 2 $1,340,000 $670,000 $4,345 6.06%
    Asian Indian 1 $695,000 $695,000 $6,154 4.25%
    Native Hawaiian or Islander 2 $140,000 $70,000 $364 6.50%

    Approval Rates

    Total approvals of all applications
    87.26%

    Los Angeles Federal Credit Union has an average approval rate.

    Pick Rate

    Approvals leading to origination
    84.56%

    Los Angeles Federal Credit Union has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 149 $37,015,000 $248,423

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    149 $37,015,000 $248,423

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 23 $6,065,000 $263,696 $1,065 6.05%
    40-60% 7 $2,815,000 $402,143 $2,908 5.71%
    60-80% 18 $12,890,000 $716,111 $5,733 5.38%
    80-100% 6 $5,930,000 $988,333 $6,485 5.46%
    Under 20% 95 $9,315,000 $98,053 $454 6.23%