Onpath Federal Credit Union Mortgage Rates, Fees & Info
Harahan, LALEI: 254900ZKVJDEYHV22276
Tax ID: 72-0838126
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Mortgage Data
Review & Overview
Onpath Federal Credit Union is a smaller credit union specializing in Home Purchase and Refi loans. Onpath Federal Credit Union has a high proportion of conventional loans. They have a a low proportion of FHA loans. (This may mean they shy away from first time homebuyers.) Their top markets by origination volume include: New Orleans, Gulfport, Lafayette, Houma, and Jackson among others. We have data for 6 markets. (Some data included below & more in-depth data is available with an active subscription.)Onpath 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.
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Originations
55Origination Dollar Volume (All Markets)
$14,005,000Top 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 |
|---|---|---|---|---|---|
| NEW ORLEANS-METAIRIE, LA (FHA|USDA|VA) | 46 | $10,870,000 | $236,304 | $0 | 8.57% |
| GULFPORT-BILOXI, MS (FHA|USDA|VA) | 2 | $1,240,000 | $620,000 | $0 | 8.00% |
| LAFAYETTE, LA (FHA|USDA|VA) | 2 | $1,140,000 | $570,000 | $0 | 7.75% |
| HOUMA-THIBODAUX, LA (FHA|USDA|VA) | 3 | $365,000 | $121,667 | $0 | 11.50% |
| JACKSON, MS (FHA|USDA|VA) | 1 | $355,000 | $355,000 | $0 | 0.00% |
| Bogalusa, LA (FHA|USDA|VA) | 1 | $35,000 | $35,000 | $0 | 0.00% |
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 49 | $11,815,000 | $241,122 | $0 | 8.41% |
| HELOC | 3 | $1,605,000 | $535,000 | n/a | 10.17% |
| FHA | 3 | $585,000 | $195,000 | $0 | 0.00% |
For 2023, Onpath Federal Credit Union's most frequently originated type of loan was Conventional, with 49 originations. Their 2nd most popular type was HELOC, with 3 originations.
Loan Reason
| Loan Reason | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Home Purchase | 20 | $5,760,000 | $288,000 | $0 | 8.38% |
| Refi | 19 | $5,975,000 | $314,474 | $0 | 8.69% |
| Cash Out Refi | 16 | $2,270,000 | $141,875 | $0 | 8.50% |
For 2023, Onpath Federal Credit Union's most frequently cited loan purpose was Home Purchase, with 20 originations. The 2nd most popular reason was Refi, with 19 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Other | 55 | $14,005,000 | $254,636 | $0 | 8.61% |
For 2023, Onpath Federal Credit Union's most frequently cited loan duration was Other, with 55 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| Over 8% | 18 | $4,830,000 | $268,333 |
| 7-8% | 7 | $3,065,000 | $437,857 |
| 5-6% | 1 | $85,000 | $85,000 |
During 2023, Onpath Federal Credit Union's average interest rate for loans was 0.00%, while their most frequently originated rate bucket for loans was Over 8%, with 18 originations.
Loan Sizing
2023 saw Onpath Federal Credit Union place emphasis on $100,000 or less loans with 16 originations, totaling $1,020,000 in origination value.
Applicant Income
Onpath Federal Credit Union lent most frequently to those with incomes in the $250k+ range, with 19 originations. The second most popular income band? $50k-75k, with 8 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications79.84%
Onpath Federal Credit Union has a below average approval rate.
Pick Rate
Approvals leading to origination30.91%
Onpath 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 | 55 | $14,005,000 | $254,636 |