Los Angeles Federal Credit Union Mortgage Rates, Fees & Info

Glendale, CA

LEI: 254900KD58MIT0K3NP70

Tax ID: 95-1652836

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 Refi and Cash Out Refi 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, Bakersfield, and Hanford among others. We have data for 7 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 relatively high 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 5.37% 1/29/23
    30 Year Conventional Refi 6.18% 1/29/23
    30 Year Cash-out Refi 9.90% 1/29/23
    15 Year Conventional Refi 5.92% 1/29/23
    15 Year Cash-out Refi 5.92% 1/29/23
    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

    166

    Origination Dollar Volume (All Markets)

    $31,330,000

    Awards

    Los Angeles Federal Credit Union 30 Year Conventional Loans silver Los Angeles 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) 139 $26,735,000 $192,338 $2,762 4.71%
    RIVERSIDE-SAN BERNARDINO-ONTARIO, CA (FHA|USDA|VA) 21 $3,645,000 $173,571 $3,079 4.68%
    Outside of Metro Areas 1 $355,000 $355,000 $6,131 3.88%
    SAN DIEGO-CHULA VISTA-CARLSBAD, CA (FHA|USDA|VA) 2 $290,000 $145,000 $2,220 4.94%
    BAKERSFIELD, CA (FHA|USDA|VA) 1 $185,000 $185,000 $2,905 5.13%
    HANFORD-CORCORAN, CA (FHA|USDA|VA) 1 $95,000 $95,000 $3,270 3.75%
    Pahrump, NV (FHA|USDA|VA) 1 $25,000 $25,000 $157 5.25%
    Los Angeles Federal Credit Union's top markets include Los Angeles, Riverside, San Diego, Bakersfield, and Hanford among others.

    Their top states include:
  • California (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.

    FRONTWAVE
    Similarity Rank: 92
    LBS FINANCIAL
    Similarity Rank: 210
    LA Financial Federal Credit Union
    Similarity Rank: 321
    Christian Community Credit Union
    Similarity Rank: 515
    ALTA VISTA CREDIT UNION
    Similarity Rank: 612
    FOOTHILL FEDERAL CREDIT UNION
    Similarity Rank: 732
    VENTURA COUNTY
    Similarity Rank: 781
    SAN DIEGO COUNTY CREDIT UNION
    Similarity Rank: 816

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 166 $31,330,000 $188,735 $2,807 4.70%

    For 2018, Los Angeles Federal Credit Union's most frequently originated type of loan was Conventional, with 166 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Refi 101 $17,055,000 $168,861 $2,326 4.74%
    Cash Out Refi 49 $10,425,000 $212,755 $3,627 4.64%
    Home Purchase 12 $3,600,000 $300,000 $4,658 4.41%
    Home Improvement 4 $250,000 $62,500 $255 5.44%

    For 2018, Los Angeles Federal Credit Union's most frequently cited loan purpose was Refi, with 101 originations. The 2nd most popular reason was Cash Out Refi, with 49 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 69 $21,115,000 $306,014 $5,250 4.25%
    15 Year 65 $7,465,000 $114,846 $944 5.32%
    10 Year 21 $2,255,000 $107,381 $1,733 4.13%
    5 Year 9 $305,000 $33,889 $243 5.08%
    3 Year 1 $175,000 $175,000 $0 4.75%
    Other 1 $15,000 $15,000 $240 4.50%

    For 2018, Los Angeles Federal Credit Union's most frequently cited loan duration was 30 Year, with 69 originations. The 2nd most popular length was 15 Year, with 65 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 127 $18,515,000 $145,787
    $5k+ 14 $6,150,000 $439,286
    $1k-2k 6 $1,380,000 $230,000
    $2k-3k 5 $1,175,000 $235,000
    $4k-5k 4 $1,590,000 $397,500
    $3k-4k 2 $390,000 $195,000

    Los Angeles Federal Credit Union's average total fees were $5,250, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 127 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    4-5% 67 $11,405,000 $170,224
    3-4% 59 $16,235,000 $275,169
    5-6% 30 $2,830,000 $94,333
    6-7% 7 $335,000 $47,857
    7-8% 3 $525,000 $175,000

    During 2018, Los Angeles Federal Credit Union's average interest rate for loans was 4.25%, while their most frequently originated rate bucket for loans was 4-5%, with 67 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 66 $3,530,000 $53,485 $684 5.14%
    $200k-400k 59 $16,705,000 $283,136 $4,080 4.34%
    $100k-200k 27 $3,875,000 $143,519 $1,660 4.71%
    $400k-600k 12 $5,760,000 $480,000 $8,199 4.21%
    $600k-1MM 2 $1,460,000 $730,000 $19,697 4.00%

    2018 saw Los Angeles Federal Credit Union place emphasis on $100,000 or less loans with 66 originations, totaling $3,530,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 52 $9,050,000 $174,038 $2,274 4.75%
    $150k-250k 32 $8,360,000 $261,250 $4,227 4.93%
    $50k-75k 30 $6,320,000 $210,667 $3,361 4.45%
    $75k-100k 29 $4,645,000 $160,172 $2,640 4.67%
    $50k or less 19 $2,215,000 $116,579 $1,850 4.61%
    $250k+ 4 $740,000 $185,000 $810 4.88%

    Los Angeles Federal Credit Union lent most frequently to those with incomes in the $100k-150k range, with 52 originations. The second most popular income band? $150k-250k, with 32 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    30-36% 34 $7,030,000 $206,765 $2,936 4.60%
    20-30% 28 $4,050,000 $144,643 $2,152 4.57%
    38% 12 $3,130,000 $260,833 $2,681 4.48%
    37% 11 $2,645,000 $240,455 $6,819 4.41%
    43% 9 $1,685,000 $187,222 $1,898 4.90%
    47% 9 $1,315,000 $146,111 $1,773 5.49%
    <20% 8 $1,530,000 $191,250 $3,196 4.09%
    39% 8 $1,010,000 $126,250 $906 5.14%
    42% 8 $2,000,000 $250,000 $2,163 4.48%
    45% 8 $1,280,000 $160,000 $2,471 4.95%
    46% 8 $1,460,000 $182,500 $1,784 4.80%
    41% 7 $1,195,000 $170,714 $1,727 4.63%
    36% 5 $985,000 $197,000 $6,526 5.25%
    44% 3 $815,000 $271,667 $6,173 4.21%
    40% 3 $465,000 $155,000 $3,184 4.92%
    50-60% 2 $270,000 $135,000 $1,137 5.44%
    48% 1 $45,000 $45,000 $222 5.75%
    49% 1 $45,000 $45,000 $252 5.75%
    >60% 1 $375,000 $375,000 $2,768 4.88%

    Los Angeles Federal Credit Union lent most frequently to those with DTI ratios of 30-36%, with 34 originations. The next most common DTI ratio? 20-30%, with 28 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 97 $16,765,000 $172,835 $2,477 4.68%
    Black 31 $6,055,000 $195,323 $3,175 4.94%
    Asian 19 $5,135,000 $270,263 $4,787 4.35%
    Not provided 14 $2,100,000 $150,000 $1,452 4.91%
    Filipino 2 $740,000 $370,000 $6,914 4.31%
    American Indian 1 $415,000 $415,000 $2,818 4.25%
    1 $75,000 $75,000 $1,488 3.75%
    Not applicable 1 $45,000 $45,000 $252 5.75%

    Approval Rates

    Total approvals of all applications
    85.11%

    Los Angeles Federal Credit Union has an average approval rate.

    Pick Rate

    Approvals leading to origination
    38.55%

    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
    855.0 1 $225,000 $225,000
    NA 165 $31,105,000 $188,515

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Single Family (1-4 Units):Manufactured 1 $85,000 $85,000
    Single Family (1-4 Units):Site-Built 165 $31,245,000 $189,364

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 33 $5,975,000 $181,061 $2,012 4.50%
    40-60% 21 $6,255,000 $297,857 $3,413 4.15%
    60-80% 32 $11,210,000 $350,313 $7,546 4.17%
    80-100% 7 $2,325,000 $332,143 $4,502 4.48%
    Under 20% 73 $5,565,000 $76,233 $709 5.21%