Jefferson Financial Mortgage Rates, Fees & Info
Metairie, LALEI: 5493003JBN8UEVOU8O42
Tax ID: 72-0649178
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Mortgage Data
Review & Overview
Jefferson Financial is a smaller mortgage company specializing in Refi and Home Purchase loans. Jefferson Financial has a high proportion of conventional loans. Their top markets by origination volume include: New Orleans, Baton Rouge, Mobile, and Gulfport among others. We have data for 5 markets. (Some data included below & more in-depth data is available with an active subscription.)Jefferson Financial 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. Jefferson Financial 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 | 5.52% | 12/16/24 |
| 30 Year Conventional Refi | 5.60% | 12/16/24 |
| 30 Year Cash-out Refi | 5.46% | 12/16/24 |
| 15 Year Conventional Purchase | 5.10% | 12/16/24 |
| 15 Year Conventional Refi | 5.45% | 12/16/24 |
| 15 Year Cash-out Refi | 5.45% | 12/16/24 |
| 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. | ||
Jefferson Financial Mortgage Calculator
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
95Origination Dollar Volume (All Markets)
$17,335,000Awards
JEFFERSON FINANCIAL - 2019
JEFFERSON FINANCIAL is a 2019 , due to their low .
For 2019, 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 |
|---|---|---|---|---|---|
| NEW ORLEANS-METAIRIE, LA (FHA|USDA|VA) | 81 | $15,235,000 | $188,086 | $2,377 | 4.53% |
| BATON ROUGE, LA (FHA|USDA|VA) | 10 | $1,430,000 | $143,000 | $2,406 | 4.22% |
| MOBILE, AL (FHA|USDA|VA) | 2 | $370,000 | $185,000 | $1,847 | 5.75% |
| GULFPORT-BILOXI, MS (FHA|USDA|VA) | 1 | $155,000 | $155,000 | $2,040 | 4.50% |
| Outside of Metro Areas | 1 | $145,000 | $145,000 | $0 | 7.00% |
Similar Lenders
We use machine learning to identify the top lenders compared against JEFFERSON FINANCIAL 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 | 95 | $17,335,000 | $182,474 | $2,371 | 4.55% |
For 2019, Jefferson Financial's most frequently originated type of loan was Conventional, with 95 originations.
Loan Reason
For 2019, Jefferson Financial's most frequently cited loan purpose was Refi, with 63 originations. The 2nd most popular reason was Home Purchase, with 24 originations.
Loan Duration/Length
For 2019, Jefferson Financial's most frequently cited loan duration was 30 Year, with 54 originations. The 2nd most popular length was 15 Year, with 17 originations.
Origination Fees/Closing Costs
| Origination Fee/Closing Cost | Originations | Total Value | Average Loan |
|---|---|---|---|
| $<1k | 91 | $16,835,000 | $185,000 |
Jefferson Financial's average total fees were $2,574, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 91 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 4-5% | 48 | $9,940,000 | $207,083 |
| 3-4% | 30 | $5,560,000 | $185,333 |
| 6-7% | 12 | $740,000 | $61,667 |
| 5-6% | 5 | $1,095,000 | $219,000 |
During 2019, Jefferson Financial's average interest rate for loans was 4.64%, while their most frequently originated rate bucket for loans was 4-5%, with 48 originations.
Loan Sizing
2019 saw Jefferson Financial place emphasis on $100k-200k loans with 40 originations, totaling $5,850,000 in origination value.
Applicant Income
Jefferson Financial lent most frequently to those with incomes in the $50k or less range, with 21 originations. The second most popular income band? $50k-75k, with 19 originations.
Applicant Debt to Income Ratio
Jefferson Financial lent most frequently to those with DTI ratios of 20-30%, with 35 originations. The next most common DTI ratio? 30-36%, with 19 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications84.75%
Jefferson Financial has a below average approval rate.
Pick Rate
Approvals leading to origination56.84%
Jefferson Financial 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 |
|---|---|---|---|
| 0.0 | 2 | $70,000 | $35,000 |
| 799.0 | 1 | $145,000 | $145,000 |
| NA | 92 | $17,120,000 | $186,087 |
Occupancy Type Mix
| Dwelling Type | Originations | Total Value | Average Loan |
|---|---|---|---|
| Single Family (1-4 Units):Manufactured | 1 | $145,000 | $145,000 |
| Single Family (1-4 Units):Site-Built | 94 | $17,190,000 | $182,872 |
LTV Distribution
Complaints
| Bank Name | Product | Issue | 2019 CPFB Complaints | % of Total Issues |
|---|---|---|---|---|
| Jefferson Title Corporation | Reverse mortgage | Trouble during payment process | 1 | 100.0% |