Neighbors Federal Credit Union Mortgage Rates, Fees & Info

Baton Rouge, LA

LEI: 5493001QMUDK2ML5S840

Tax ID: 72-0505488

Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data

Jump to:

  • SimulatedRates™
  • Mortgage Calculator

    • Mortgage Data

  • Originations
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • Complaints
  • Similar Lenders
  • Loan Length
  • Loan to Value Info
  • Debt-to-Income
  • Applicant Income
  • Ethnicity Info
  • Approval & Pick Rates
  • Points and Fees
  • Origination Fees (Closing Costs)

    • Review & Overview

    Neighbors Federal Credit Union is a smaller credit union specializing in Home Purchase and Cash Out Refi loans. Neighbors Federal Credit Union has a high proportion of conventional loans. Their top two markets are Baton Rouge and Fayetteville .

    Neighbors Federal Credit Union has an average approval rate when compared to the average across all lenders. They have an average pick rate when compared to similar lenders. Neighbors 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.

    Mortgage seekers: Choose your metro area here to explore the lowest fee & rate lenders.

    Mortgage professionals: We have various tools to make your lives easier. Contact us to see how we can help with your market research, analytics or advertising needs.

    SimulatedRates™

    Mortgage Type     		Simulated Rate Simulation Date
    30 Year Conventional Purchase 6.93% 4/28/24
    30 Year Conventional Refi 6.20% 4/28/24
    30 Year Cash-out Refi 6.31% 4/28/24
    15 Year Conventional Purchase 6.03% 4/28/24
    15 Year Conventional Refi 6.39% 4/28/24
    15 Year Cash-out Refi 6.39% 4/28/24
    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.

    Neighbors Federal Credit Union Mortgage Calculator






    Your Estimates

    Estimated Loan Payment: Update the calculator values and click calculate payment!

    This is not an official calculator from Neighbors Federal Credit Union. It uses our SimulatedRate™ technology, basic math and reasonable assumptions to calculate mortgage payments derived from our simulations and your inputs.

    The default purchase price is the median sales price across the US for 2022Q4, per FRED.


    Originations

    70

    Origination Dollar Volume (All Markets)

    $15,720,000

    Awards

    Neighbors Federal Credit Union 30 Year Conventional Loans gold
    Show all (1) 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
    BATON ROUGE, LA (FHA|USDA|VA) 68 $14,910,000 $219,265 $3,974 4.54%
    FAYETTEVILLE-SPRINGDALE-ROGERS, AR (FHA|USDA|VA) 1 $645,000 $645,000 $5,870 3.25%
    Outside of Metro Areas 1 $165,000 $165,000 $3,898 4.75%
    Neighbors Federal Credit Union's top markets include Baton Rouge and Fayetteville among others.

    Their top states include:
  • Louisiana (FHA|USDA|VA)
  • Arkansas (FHA|USDA|VA)

    • Similar Lenders

    We use machine learning to identify the top lenders compared against Neighbors Federal Credit Union based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.

    Neighbors Federal Credit Union
    Similarity Rank: 96
    FBT Mortgage, L.L.C.
    Similarity Rank: 555
    Campus Federal Credit Union
    Similarity Rank: 568
    ESSENTIAL
    Similarity Rank: 648
    Home Bank
    Similarity Rank: 792
    La Capitol Federal Credit Union
    Similarity Rank: 854
    Pelican State Credit Union
    Similarity Rank: 1254
    DSLD MORTGAGE, LLC
    Similarity Rank: 1919
    Red River Bank
    Similarity Rank: 2655
    STANDARD MORTGAGE CORPORATION
    Similarity Rank: 3440

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 70 $15,720,000 $224,571 $4,002 4.53%

    For 2022, Neighbors Federal Credit Union's most frequently originated type of loan was Conventional, with 70 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 29 $7,705,000 $265,690 $4,251 5.00%
    Cash Out Refi 20 $3,790,000 $189,500 $3,982 4.24%
    Home Improvement 12 $1,980,000 $165,000 $3,655 4.00%
    Refi 9 $2,245,000 $249,444 $3,724 4.38%

    For 2022, Neighbors Federal Credit Union's most frequently cited loan purpose was Home Purchase, with 29 originations. The 2nd most popular reason was Cash Out Refi, with 20 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 42 $10,250,000 $244,048 $4,077 4.82%
    15 Year 15 $3,335,000 $222,333 $3,997 3.85%
    20 Year 11 $1,995,000 $181,364 $3,904 4.32%
    10 Year 2 $140,000 $70,000 $2,789 4.63%

    For 2022, Neighbors Federal Credit Union's most frequently cited loan duration was 30 Year, with 42 originations. The 2nd most popular length was 15 Year, with 15 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $1k-2k 63 $13,875,000 $220,238
    $<1k 3 $1,105,000 $368,333

    Neighbors Federal Credit Union's average total fees were $4,077, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 63 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    3-4% 32 $7,290,000 $227,813
    4-5% 15 $4,235,000 $282,333
    5-6% 13 $2,045,000 $157,308
    6-7% 6 $1,270,000 $211,667
    2.5-3% 2 $470,000 $235,000
    7-8% 2 $410,000 $205,000

    During 2022, Neighbors Federal Credit Union's average interest rate for loans was 4.82%, while their most frequently originated rate bucket for loans was 3-4%, with 32 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 35 $9,225,000 $263,571 $4,110 4.54%
    $100k-200k 18 $2,500,000 $138,889 $3,811 4.54%
    $100,000 or less 11 $825,000 $75,000 $3,434 4.72%
    $400k-600k 4 $1,870,000 $467,500 $4,812 4.22%
    $600k-1MM 2 $1,300,000 $650,000 $5,072 3.88%

    2022 saw Neighbors Federal Credit Union place emphasis on $200k-400k loans with 35 originations, totaling $9,225,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 18 $4,530,000 $251,667 $3,982 4.28%
    $50k-75k 14 $2,540,000 $181,429 $3,833 4.30%
    $75k-100k 14 $2,950,000 $210,714 $4,067 5.06%
    $50k or less 10 $1,320,000 $132,000 $3,790 4.45%
    $150k-250k 9 $2,995,000 $332,778 $4,228 4.29%
    $250k+ 2 $1,140,000 $570,000 $5,870 4.13%

    Neighbors Federal Credit Union lent most frequently to those with incomes in the $100k-150k range, with 18 originations. The second most popular income band? $50k-75k, with 14 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    30-36% 19 $4,515,000 $237,632 $4,039 4.84%
    20-30% 11 $3,375,000 $306,818 $4,273 4.22%
    <20% 7 $1,535,000 $219,286 $3,973 4.05%
    42% 6 $1,460,000 $243,333 $4,098 3.71%
    39% 5 $705,000 $141,000 $3,835 3.55%
    38% 5 $995,000 $199,000 $3,712 5.30%
    40% 4 $650,000 $162,500 $3,832 4.59%
    41% 4 $700,000 $175,000 $3,351 5.09%
    37% 4 $860,000 $215,000 $4,134 4.34%
    45% 2 $680,000 $340,000 $4,469 5.13%

    Neighbors Federal Credit Union lent most frequently to those with DTI ratios of 30-36%, with 19 originations. The next most common DTI ratio? 20-30%, with 11 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 31 $7,395,000 $238,548 $3,969 4.61%
    Black 28 $5,800,000 $207,143 $3,964 4.31%
    Not provided 5 $1,515,000 $303,000 $4,186 3.85%
    American Indian 1 $505,000 $505,000 $5,096 4.75%
    Asian 2 $260,000 $130,000 $4,000 5.88%
    Not applicable 3 $245,000 $81,667 $0 5.83%

    Approval Rates

    Total approvals of all applications
    83.33%

    Neighbors Federal Credit Union has a below average approval rate.

    Pick Rate

    Approvals leading to origination
    92.86%

    Neighbors Federal Credit Union has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 70 $15,720,000 $224,571

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    70 $15,720,000 $224,571

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 6 $1,070,000 $178,333 $3,462 4.19%
    40-60% 14 $2,740,000 $195,714 $3,939 4.31%
    60-80% 26 $5,660,000 $217,692 $3,952 4.36%
    80-100% 23 $6,205,000 $269,783 $4,231 4.88%
    Under 20% 1 $45,000 $45,000 $0 6.00%

    Complaints

    Bank Name Product Issue 2022 CPFB Complaints % of Total Issues
    Neighborhood Capital Funding, Inc. Conventional home mortgage Trouble during payment process 1 100.0%