Los Angeles Federal Credit Union Mortgage Rates, Fees & Info
Glendale, CALEI: 254900KD58MIT0K3NP70
Tax ID: 95-1652836
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Mortgage Data
Review & Overview
Los Angeles Federal Credit Union is a smaller credit union specializing in Refi loans. Los Angeles Federal Credit Union has a high proportion of conventional loans. Their top markets by origination volume include: Los Angeles, Riverside, Oxnard, San Diego, and San Luis Obispo among others. We have data for 15 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.
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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| 30 Year Conventional Purchase | 5.80% | 4/18/24 |
| 30 Year Conventional Refi | 5.92% | 4/18/24 |
| 30 Year Cash-out Refi | 5.64% | 4/18/24 |
| 15 Year Conventional Refi | 6.33% | 4/18/24 |
| 15 Year Cash-out Refi | 6.33% | 4/18/24 |
| 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
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
328Origination Dollar Volume (All Markets)
$95,450,000Awards
Los Angeles Federal Credit Union - 2020
Los Angeles Federal Credit Union is a 2020 , due to their low .
For 2020, less than of lenders were eligible for this award.
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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) | 267 | $79,975,000 | $299,532 | $2,365 | 3.17% |
| RIVERSIDE-SAN BERNARDINO-ONTARIO, CA (FHA|USDA|VA) | 40 | $10,100,000 | $252,500 | $2,507 | 3.26% |
| OXNARD-THOUSAND OAKS-VENTURA, CA (FHA|USDA|VA) | 5 | $1,495,000 | $299,000 | $2,550 | 3.15% |
| SAN DIEGO-CHULA VISTA-CARLSBAD, CA (FHA|USDA|VA) | 2 | $790,000 | $395,000 | $2,617 | 3.38% |
| SAN LUIS OBISPO-PASO ROBLES, CA (FHA|USDA|VA) | 2 | $770,000 | $385,000 | $2,620 | 3.25% |
| BAKERSFIELD, CA (FHA|USDA|VA) | 3 | $485,000 | $161,667 | $2,139 | 2.79% |
| San Francisco-Oakland-Berkeley, CA (FHA|USDA|VA) | 1 | $345,000 | $345,000 | $2,535 | 3.38% |
| SALINAS, CA (FHA|USDA|VA) | 1 | $315,000 | $315,000 | $3,018 | 3.63% |
| Outside of Metro Areas | 1 | $255,000 | $255,000 | $2,282 | 2.75% |
| MADERA, CA (FHA|USDA|VA) | 1 | $245,000 | $245,000 | $2,534 | 3.63% |
| LAS VEGAS-HENDERSON-PARADISE, NV (FHA|USDA|VA) | 1 | $215,000 | $215,000 | $2,443 | 3.38% |
| SANTA ROSA-PETALUMA, CA (FHA|USDA|VA) | 1 | $205,000 | $205,000 | $1,925 | 2.50% |
| Pahrump, NV (FHA|USDA|VA) | 1 | $135,000 | $135,000 | $2,149 | 2.75% |
| HANFORD-CORCORAN, CA (FHA|USDA|VA) | 1 | $85,000 | $85,000 | $2,119 | 2.38% |
| Crescent City, CA (FHA|USDA|VA) | 1 | $35,000 | $35,000 | $0 | 6.75% |
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.
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Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 328 | $95,450,000 | $291,006 | $2,386 | 3.18% |
For 2020, Los Angeles Federal Credit Union's most frequently originated type of loan was Conventional, with 328 originations.
Loan Reason
For 2020, Los Angeles Federal Credit Union's most frequently cited loan purpose was Refi, with 318 originations. The 2nd most popular reason was Cash Out Refi, with 9 originations.
Loan Duration/Length
For 2020, Los Angeles Federal Credit Union's most frequently cited loan duration was 30 Year, with 177 originations. The 2nd most popular length was 15 Year, with 116 originations.
Origination Fees/Closing Costs
| Origination Fee/Closing Cost | Originations | Total Value | Average Loan |
|---|---|---|---|
| $<1k | 318 | $92,600,000 | $291,195 |
| $1k-2k | 2 | $560,000 | $280,000 |
| $2k-3k | 2 | $680,000 | $340,000 |
| $5k+ | 1 | $335,000 | $335,000 |
Los Angeles Federal Credit Union's average total fees were $2,677, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 318 originations.
Interest Rates
During 2020, Los Angeles Federal Credit Union's average interest rate for loans was 3.31%, while their most frequently originated rate bucket for loans was 3-4%, with 136 originations.
Loan Sizing
2020 saw Los Angeles Federal Credit Union place emphasis on $200k-400k loans with 180 originations, totaling $53,240,000 in origination value.
Applicant Income
Los Angeles Federal Credit Union lent most frequently to those with incomes in the $100k-150k range, with 113 originations. The second most popular income band? $150k-250k, with 75 originations.
Applicant Debt to Income Ratio
Los Angeles Federal Credit Union lent most frequently to those with DTI ratios of 20-30%, with 101 originations. The next most common DTI ratio? 30-36%, with 58 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications91.38%
Los Angeles Federal Credit Union has an average approval rate.
Pick Rate
Approvals leading to origination49.09%
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 | 328 | $95,450,000 | $291,006 |
Occupancy Type Mix
| Dwelling Type | Originations | Total Value | Average Loan |
|---|---|---|---|
| Single Family (1-4 Units):Site-Built | 328 | $95,450,000 | $291,006 |