Parsons Federal Credit Union Mortgage Rates, Fees & Info
Pasadena, CALEI: 5493001A8DPRB21YBS87
Tax ID: 51-0155270
Latest/2024 | 2023 Data | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data
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Mortgage Data
Review & Overview
Parsons Federal Credit Union is a smaller credit union specializing in Home Improvement, Other, and Home Purchase loans. Parsons Federal Credit Union has a high proportion of conventional loans. Their top markets by origination volume include: Los Angeles, Riverside, Vallejo, San Francisco, and Chicago among others. We have data for 26 markets. (Some data included below & more in-depth data is available with an active subscription.)Parsons 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.
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Originations
65Origination Dollar Volume (All Markets)
$10,105,000Top 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 |
|---|---|---|---|---|---|
| Los Angeles-Long Beach-Anaheim, CA (FHA|USDA|VA) | 22 | $2,660,000 | $120,909 | $0 | 0.00% |
| RIVERSIDE-SAN BERNARDINO-ONTARIO, CA (FHA|USDA|VA) | 7 | $1,465,000 | $209,286 | $0 | 0.00% |
| VALLEJO, CA (FHA|USDA|VA) | 3 | $905,000 | $301,667 | $0 | 0.00% |
| San Francisco-Oakland-Berkeley, CA (FHA|USDA|VA) | 2 | $640,000 | $320,000 | $0 | 0.00% |
| Chicago-Naperville-Elgin, IL-IN-WI (FHA|USDA|VA) | 3 | $555,000 | $185,000 | $0 | 0.00% |
| Outside of Metro Areas | 1 | $535,000 | $535,000 | $0 | 0.00% |
| PHOENIX-MESA-CHANDLER, AZ (FHA|USDA|VA) | 1 | $445,000 | $445,000 | $0 | 0.00% |
| LAS VEGAS-HENDERSON-PARADISE, NV (FHA|USDA|VA) | 2 | $430,000 | $215,000 | $0 | 0.00% |
| Washington-Arlington-Alexandria, DC-VA-MD-WV (FHA|USDA|VA) | 3 | $395,000 | $131,667 | $0 | 0.00% |
| CLEVELAND-ELYRIA, OH (FHA|USDA|VA) | 2 | $360,000 | $180,000 | $0 | 0.00% |
| PANAMA CITY, FL (FHA|USDA|VA) | 1 | $345,000 | $345,000 | $0 | 0.00% |
| CHARLOTTE-CONCORD-GASTONIA, NC-SC (FHA|USDA|VA) | 2 | $190,000 | $95,000 | $0 | 0.00% |
| TOLEDO, OH (FHA|USDA|VA) | 1 | $165,000 | $165,000 | $0 | 0.00% |
| BALTIMORE-COLUMBIA-TOWSON, MD (FHA|USDA|VA) | 2 | $160,000 | $80,000 | $0 | 0.00% |
| COLORADO SPRINGS, CO (FHA|USDA|VA) | 2 | $130,000 | $65,000 | $0 | 0.00% |
| SAN DIEGO-CHULA VISTA-CARLSBAD, CA (FHA|USDA|VA) | 1 | $105,000 | $105,000 | $0 | 0.00% |
| POUGHKEEPSIE-NEWBURGH-MIDDLETOWN, NY (FHA|USDA|VA) | 1 | $105,000 | $105,000 | $0 | 0.00% |
| CINCINNATI, OH-KY-IN (FHA|USDA|VA) | 1 | $95,000 | $95,000 | $0 | 0.00% |
| DENVER-AURORA-LAKEWOOD, CO (FHA|USDA|VA) | 1 | $85,000 | $85,000 | $0 | 0.00% |
| PRESCOTT VALLEY-PRESCOTT, AZ (FHA|USDA|VA) | 1 | $65,000 | $65,000 | $0 | 0.00% |
| HOUSTON-THE WOODLANDS-SUGAR LAND, TX (FHA|USDA|VA) | 1 | $55,000 | $55,000 | $0 | 0.00% |
| LEXINGTON-FAYETTE, KY (FHA|USDA|VA) | 1 | $55,000 | $55,000 | $0 | 0.00% |
| ATLANTA-SANDY SPRINGS-ALPHARETTA, GA (FHA|USDA|VA) | 1 | $55,000 | $55,000 | $0 | 0.00% |
| TRENTON-PRINCETON, NJ (FHA|USDA|VA) | 1 | $45,000 | $45,000 | $0 | 0.00% |
| HUNTSVILLE, AL (FHA|USDA|VA) | 1 | $35,000 | $35,000 | $0 | 0.00% |
| SHERMAN-DENISON, TX (FHA|USDA|VA) | 1 | $25,000 | $25,000 | $0 | 0.00% |
Similar Lenders
We use machine learning to identify the top lenders compared against PARSONS Federal Credit Union based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.
Similarity Rank: 203
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Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 56 | $8,710,000 | $155,536 | $0 | 0.00% |
| HELOC | 9 | $1,395,000 | $155,000 | n/a | 0.00% |
For 2018, Parsons Federal Credit Union's most frequently originated type of loan was Conventional, with 56 originations. Their 2nd most popular type was HELOC, with 9 originations.
Loan Reason
For 2018, Parsons Federal Credit Union's most frequently cited loan purpose was Home Improvement, with 24 originations. The 2nd most popular reason was Other, with 19 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| 30+ year | 65 | $10,105,000 | $155,462 | $0 | 0.00% |
For 2018, Parsons Federal Credit Union's most frequently cited loan duration was 30+ year, with 65 originations.
Loan Sizing
2018 saw Parsons Federal Credit Union place emphasis on $100,000 or less loans with 29 originations, totaling $1,745,000 in origination value.
Applicant Income
Parsons Federal Credit Union lent most frequently to those with incomes in the $100k-150k range, with 21 originations. The second most popular income band? $150k-250k, with 19 originations.
Applicant Debt to Income Ratio
Parsons Federal Credit Union lent most frequently to those with DTI ratios of 50-60%, with 14 originations. The next most common DTI ratio? 30-36%, with 12 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications93.55%
Parsons Federal Credit Union has an average approval rate.
Pick Rate
Approvals leading to origination70.77%
Parsons Federal Credit Union has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 65 | $10,105,000 | $155,462 |
Occupancy Type Mix
| Dwelling Type | Originations | Total Value | Average Loan |
|---|---|---|---|
| Single Family (1-4 Units):Site-Built | 65 | $10,105,000 | $155,462 |
Complaints
| Bank Name | Product | Issue | 2018 CPFB Complaints | % of Total Issues |
|---|---|---|---|---|
| Paris and Paris, LLP | Conventional home mortgage | Trouble during payment process | 1 | 100.0% |