Logix Federal Credit Union Mortgage Rates, Fees & Info

Burbank, CA

LEI: 5493000EO85W8IS2FR22

Tax ID: 95-6044941

5 stars - out of 5 stars, based on 84 reviews

2021 Data | 2020 Data | 2019 Data | 2018 Data


Overview

Logix Federal Credit Union is a small credit union specializing in Cash Out Refi and Refi loans. Logix Federal Credit Union has a high proportion of conventional loans. Their top markets include Los Angeles, Oxnard, Riverside, San Francisco, and San Diego among others. Logix Federal Credit Union has an average approval rate for mortages when compared nationally. They have a below average pick rate when compared to the same sample of other lendors. Logix Federal Credit Union is typically an average fee lendor.


Originations

6,979

Origination Dollar Volume (All Markets)

$2,688,595,000
Show all (10) awards

Relative Rate

Logix Federal Credit Union's average 30 year fixed rate mortgage of loans were 2.82%.

The 2021 average 30 year fixed rate mortgage across all markets of loans were 3.15%.

This yields a difference of -0.33%.

Relative Fees

Logix Federal Credit Union's average total fees for a 30 year fixed rate mortgage are $5,040.

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

Top Markets

Market Originations Total Value Average Loan Average Fees Average Rate
Los Angeles-Long Beach-Anaheim, CA (FHA|USDA|VA) 4,990 $1,932,490,000 $387,273 $3,689 3.19%
OXNARD-THOUSAND OAKS-VENTURA, CA (FHA|USDA|VA) 1,088 $447,100,000 $410,938 $3,377 3.20%
RIVERSIDE-SAN BERNARDINO-ONTARIO, CA (FHA|USDA|VA) 265 $85,275,000 $321,792 $3,821 3.24%
San Francisco-Oakland-Berkeley, CA (FHA|USDA|VA) 56 $38,440,000 $686,429 $6,115 3.11%
SAN DIEGO-CHULA VISTA-CARLSBAD, CA (FHA|USDA|VA) 57 $28,465,000 $499,386 $4,529 3.20%
BAKERSFIELD, CA (FHA|USDA|VA) 97 $19,555,000 $201,598 $3,757 3.06%
SANTA MARIA-SANTA BARBARA, CA (FHA|USDA|VA) 29 $19,395,000 $668,793 $5,729 3.16%
LAS VEGAS-HENDERSON-PARADISE, NV (FHA|USDA|VA) 76 $18,830,000 $247,763 $3,926 3.11%
SAN JOSE-SUNNYVALE-SANTA CLARA, CA (FHA|USDA|VA) 19 $14,235,000 $749,211 $4,203 2.82%
MANCHESTER-NASHUA, NH (FHA|USDA|VA) 71 $13,815,000 $194,577 $2,736 2.93%
PHOENIX-MESA-CHANDLER, AZ (FHA|USDA|VA) 39 $11,535,000 $295,769 $3,420 2.99%
SAN LUIS OBISPO-PASO ROBLES, CA (FHA|USDA|VA) 17 $8,285,000 $487,353 $4,182 3.05%
Boston-Cambridge-Newton, MA-NH (FHA|USDA|VA) 18 $6,570,000 $365,000 $5,839 2.93%
SACRAMENTO-ROSEVILLE-FOLSOM, CA (FHA|USDA|VA) 25 $6,235,000 $249,400 $2,746 3.35%
Outside of Metro Areas 19 $3,835,000 $201,842 $2,836 3.07%
Washington-Arlington-Alexandria, DC-VA-MD-WV (FHA|USDA|VA) 8 $3,140,000 $392,500 $2,402 2.98%
RENO, NV (FHA|USDA|VA) 10 $3,070,000 $307,000 $4,596 2.97%
SANTA ROSA-PETALUMA, CA (FHA|USDA|VA) 4 $2,950,000 $737,500 $4,464 3.28%
LAKE HAVASU CITY-KINGMAN, AZ (FHA|USDA|VA) 11 $2,905,000 $264,091 $4,569 3.19%
Gardnerville Ranchos, NV (FHA|USDA|VA) 6 $2,270,000 $378,333 $4,423 2.79%
VISALIA, CA (FHA|USDA|VA) 6 $1,840,000 $306,667 $5,363 2.90%
FRESNO, CA (FHA|USDA|VA) 6 $1,780,000 $296,667 $5,962 2.85%
KAHULUI-WAILUKU-LAHAINA, HI (FHA|USDA|VA) 1 $1,745,000 $1,745,000 $23,775 3.00%
TUCSON, AZ (FHA|USDA|VA) 8 $1,280,000 $160,000 $4,213 2.88%
VALLEJO, CA (FHA|USDA|VA) 3 $1,045,000 $348,333 $3,047 3.38%
STOCKTON, CA (FHA|USDA|VA) 2 $1,000,000 $500,000 $2,828 4.06%
SANTA CRUZ-WATSONVILLE, CA (FHA|USDA|VA) 3 $985,000 $328,333 $5,003 3.08%
Truckee-Grass Valley, CA (FHA|USDA|VA) 3 $905,000 $301,667 $1,881 2.67%
BARNSTABLE TOWN, MA (FHA|USDA|VA) 1 $815,000 $815,000 $10,335 2.38%
PRESCOTT VALLEY-PRESCOTT, AZ (FHA|USDA|VA) 3 $765,000 $255,000 $2,836 3.17%
FLAGSTAFF, AZ (FHA|USDA|VA) 1 $725,000 $725,000 $3,838 2.63%
MODESTO, CA (FHA|USDA|VA) 4 $700,000 $175,000 $574 3.44%
SALINAS, CA (FHA|USDA|VA) 2 $670,000 $335,000 $1,460 3.44%
WORCESTER, MA-CT (FHA|USDA|VA) 3 $585,000 $195,000 $4,565 3.50%
HANFORD-CORCORAN, CA (FHA|USDA|VA) 2 $500,000 $250,000 $2,844 3.13%
CHICO, CA (FHA|USDA|VA) 2 $470,000 $235,000 $4,899 2.81%
Sonora, CA (FHA|USDA|VA) 3 $445,000 $148,333 $5,222 3.16%
Laconia, NH (FHA|USDA|VA) 1 $435,000 $435,000 $0 2.00%
MADERA, CA (FHA|USDA|VA) 2 $430,000 $215,000 $2,546 2.94%
Berlin, NH (FHA|USDA|VA) 1 $365,000 $365,000 $4,065 3.00%
VIRGINIA BEACH-NORFOLK-NEWPORT NEWS, VA-NC (FHA|USDA|VA) 3 $335,000 $111,667 $1,576 3.70%
MERCED, CA (FHA|USDA|VA) 1 $315,000 $315,000 $3,939 2.75%
BALTIMORE-COLUMBIA-TOWSON, MD (FHA|USDA|VA) 2 $300,000 $150,000 $1,897 3.31%
NAPA, CA (FHA|USDA|VA) 2 $290,000 $145,000 $2,082 3.25%
Ukiah, CA (FHA|USDA|VA) 1 $255,000 $255,000 $3,818 3.25%
Red Bluff, CA (FHA|USDA|VA) 1 $245,000 $245,000 $4,422 2.88%
Lebanon, NH-VT (FHA|USDA|VA) 1 $215,000 $215,000 $3,437 2.75%
RICHMOND, VA (FHA|USDA|VA) 1 $195,000 $195,000 $3,849 2.88%
REDDING, CA (FHA|USDA|VA) 1 $175,000 $175,000 $4,869 3.50%
PORTLAND-SOUTH PORTLAND, ME (FHA|USDA|VA) 1 $175,000 $175,000 $2,529 3.13%
Concord, NH (FHA|USDA|VA) 1 $105,000 $105,000 $0 3.74%
Clearlake, CA (FHA|USDA|VA) 1 $65,000 $65,000 $2,928 2.50%
Fernley, NV (FHA|USDA|VA) 1 $45,000 $45,000 $0 4.75%

Logix Federal Credit Union's top markets include Los Angeles, Oxnard, Riverside, San Francisco, and San Diego among others.

Product Mix

Loan Type Originations Total Value Average Loan Average Fees Average Rate
Conventional 6,979 $2,688,595,000 $385,241 $3,683 3.18%

For the 2021 period, Logix Federal Credit Union's most frequently originated loan type of loans were Conventional, with 6,979 originations.

Loan Reason

Loan Reason Originations Total Value Average Loan Average Fees Average Rate
Cash Out Refi 3,115 $1,044,065,000 $335,173 $2,742 3.42%
Refi 2,235 $955,295,000 $427,425 $3,426 2.79%
Home Purchase 764 $472,310,000 $618,207 $8,279 2.93%
Other 533 $155,485,000 $291,717 $4,509 3.36%
Home Improvement 332 $61,440,000 $185,060 $3,699 3.88%

For the 2021, Logix Federal Credit Union's most frequently cited loan purpose of loans were Cash Out Refi, with 3,115 originations. The 2nd most popular reason of loans were Refi, with 2,235 originations.

Loan Duration/Length

Loan Length Originations Total Value Average Loan Average Fees Average Rate
30 Year 3,645 $1,973,295,000 $541,370 $5,040 2.82%
15 Year 2,833 $577,685,000 $203,913 $1,573 3.68%
20 Year 270 $77,680,000 $287,704 $3,813 2.98%
10 Year 149 $25,785,000 $173,054 $1,841 2.54%
Other 47 $15,845,000 $337,128 $3,997 4.16%
5 Year 35 $18,305,000 $523,000 $3,747 3.73%

For the 2021, Logix Federal Credit Union's most frequently cited loan length of loans were 30 Year, with 3,645 originations. The 2nd most popular length of loans were 15 Year, with 2,833 originations.

Origination Fees

Origination Fee Originations Total Value Average Loan
$1k-2k 2,314 $1,060,690,000 $458,379
$<1k 2,108 $511,970,000 $242,870
$2k-3k 686 $271,790,000 $396,195
$5k+ 662 $449,460,000 $678,943
$3k-4k 610 $293,690,000 $481,459

$5,040 of loans were Logix Federal Credit Union's average total fees, while their most frequently occuring range of origination fees were in the $1k-2k bucket, with 2,314 originations.

Interest Rates

Loan Rate Originations Total Value Average Loan
3-4% 2,882 $851,270,000 $295,375
2.5-3% 2,589 $1,204,415,000 $465,205
<2.5% 1,092 $579,960,000 $531,099
4-5% 292 $41,180,000 $141,027
6-7% 62 $5,610,000 $90,484
5-6% 48 $3,980,000 $82,917
7-8% 9 $1,405,000 $156,111
Over 8% 5 $775,000 $155,000

During 2021, Logix Federal Credit Union's average interest rate of loans were 2.82%, while their most frequently originated rate bucket of loans were 3-4%, with 2,882 originations.

Loan Sizing

Loan Size Originations Total Value Average Loan Average Fees Average Rate
$200k-400k 2,511 $726,885,000 $289,480 $3,177 3.10%
$400k-600k 1,341 $646,225,000 $481,898 $4,256 2.87%
$100k-200k 1,265 $183,135,000 $144,771 $1,827 3.47%
$100,000 or less 793 $49,315,000 $62,188 $443 4.05%
$600k-1MM 682 $533,120,000 $781,701 $6,216 2.78%
$1MM+ 387 $549,915,000 $1,420,969 $10,513 2.73%

2021 saw Logix Federal Credit Union place emphasis on $200k-400k loans with 2,511 originations, totaling $726,885,000 in origination value.

Applicant Income

Applicant Income Originations Total Value Average Loan Average Fees Average Rate
$100k-150k 1,849 $625,835,000 $338,472 $3,345 3.22%
$150k-250k 1,742 $778,890,000 $447,124 $3,947 3.24%
$75k-100k 1,118 $321,960,000 $287,979 $3,340 3.16%
$50k-75k 979 $236,215,000 $241,282 $3,209 3.16%
$250k+ 821 $609,025,000 $741,809 $5,370 3.16%
$50k or less 369 $70,075,000 $189,905 $3,166 3.17%

Logix Federal Credit Union lent most frequently to those with incomes in the $100k-150k range, with 1,849 originations. The second most popular income band? $150k-250k, with 1,742 originations.

Applicant Debt to Income Ratio

DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
20-30% 1,177 $409,825,000 $348,195 $3,268 3.08%
30-36% 1,034 $402,150,000 $388,926 $3,614 3.14%
50-60% 684 $260,360,000 $380,643 $3,423 3.68%
<20% 435 $129,315,000 $297,276 $2,867 3.05%
>60% 383 $176,145,000 $459,909 $3,838 3.42%
49% 318 $133,940,000 $421,195 $3,953 3.13%
44% 282 $112,130,000 $397,624 $3,959 3.20%
48% 251 $109,445,000 $436,036 $4,300 3.08%
46% 237 $99,435,000 $419,557 $3,939 3.02%
41% 235 $90,355,000 $384,489 $3,618 3.13%
36% 233 $83,895,000 $360,064 $3,885 3.16%
42% 232 $95,030,000 $409,612 $4,051 3.06%
43% 228 $90,470,000 $396,798 $4,050 3.08%
47% 220 $90,540,000 $411,545 $3,970 3.11%
38% 216 $83,040,000 $384,444 $4,013 3.09%
39% 215 $86,005,000 $400,023 $4,058 3.16%
37% 203 $78,395,000 $386,182 $4,232 3.06%
40% 199 $77,045,000 $387,161 $3,894 3.05%
45% 194 $75,500,000 $389,175 $3,887 3.23%

Logix Federal Credit Union lent most frequently to those with DTI ratios of 20-30%, with 1,177 originations. The next most common DTI ratio? 30-36%, with 1,034 originations.

Ethnicity Mix

Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
White 4,389 $1,609,105,000 $366,622 $3,514 3.18%
Not provided 1,662 $713,100,000 $429,061 $4,040 3.20%
Asian 667 $270,385,000 $405,375 $3,709 3.16%
Black 163 $57,815,000 $354,693 $4,284 3.28%
American Indian 43 $14,735,000 $342,674 $4,257 3.00%
Native Hawaiian 18 $5,910,000 $328,333 $3,002 3.08%
Not applicable 3 $5,575,000 $1,858,333 $0 3.72%
Filipino 15 $4,245,000 $283,000 $4,258 3.34%
Asian Indian 5 $2,875,000 $575,000 $7,239 3.05%
Other Asian 6 $1,890,000 $315,000 $2,799 3.37%
Chinese 4 $1,780,000 $445,000 $6,531 3.00%
Other Pacific Islander 2 $910,000 $455,000 $3,186 3.00%
Japanese 2 $270,000 $135,000 $7,384 2.81%

Approval Rates

Total approvals of all applications
87.95%

Logix Federal Credit Union has an average approval rate.

Pick Rate

Approvals leading to origination
81.09%

Logix Federal Credit Union has a below average pick rate.

Points and Fees

Points Originations Total Value Average Loan
0.0 1 $415,000 $415,000
1670.23 1 $1,335,000 $1,335,000
NA 6,977 $2,686,845,000 $385,100

Occupancy Type Mix

Dwelling Type Originations Total Value Average Loan
6,979 $2,688,595,000 $385,241

LTV Distribution

Loan to Value Originations Total Value Average Loan Average Fees Average Rate
20-40% 1,483 $399,345,000 $269,282 $2,445 3.24%
40-60% 1,735 $780,205,000 $449,686 $3,858 2.85%
60-80% 1,716 $1,023,980,000 $596,725 $5,713 2.84%
80-100% 422 $279,860,000 $663,175 $7,780 2.78%
Under 20% 1,623 $205,205,000 $126,436 $519 3.94%