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 loans. Jefferson Financial has a high proportion of conventional loans. Their top markets by origination volume include: New Orleans, Baton Rouge, Hammond, Lake Charles, and Jennings among others. We have data for 8 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
70Origination Dollar Volume (All Markets)
$11,530,000Top 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) | 52 | $8,030,000 | $154,423 | $2,432 | 3.46% |
| BATON ROUGE, LA (FHA|USDA|VA) | 10 | $2,390,000 | $239,000 | $2,797 | 3.41% |
| HAMMOND, LA (FHA|USDA|VA) | 3 | $515,000 | $171,667 | $2,568 | 3.63% |
| LAKE CHARLES, LA (FHA|USDA|VA) | 1 | $245,000 | $245,000 | $2,999 | 4.50% |
| Jennings, LA (FHA|USDA|VA) | 1 | $145,000 | $145,000 | $2,276 | 2.75% |
| HOT SPRINGS, AR (FHA|USDA|VA) | 1 | $85,000 | $85,000 | $0 | 0.00% |
| GULFPORT-BILOXI, MS (FHA|USDA|VA) | 1 | $65,000 | $65,000 | $2,163 | 4.50% |
| Outside of Metro Areas | 1 | $55,000 | $55,000 | $1,895 | 3.49% |
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 | 67 | $11,145,000 | $166,343 | $2,481 | 3.45% |
| HELOC | 3 | $385,000 | $128,333 | n/a | 4.75% |
For 2020, Jefferson Financial's most frequently originated type of loan was Conventional, with 67 originations. Their 2nd most popular type was HELOC, with 3 originations.
Loan Reason
For 2020, Jefferson Financial's most frequently cited loan purpose was Refi, with 38 originations. The 2nd most popular reason was Cash Out Refi, with 17 originations.
Loan Duration/Length
For 2020, Jefferson Financial's most frequently cited loan duration was 15 Year, with 28 originations. The 2nd most popular length was 30 Year, with 20 originations.
Origination Fees/Closing Costs
| Origination Fee/Closing Cost | Originations | Total Value | Average Loan |
|---|---|---|---|
| $<1k | 67 | $11,145,000 | $166,343 |
Jefferson Financial's average total fees were $2,794, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 67 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 3-4% | 32 | $5,980,000 | $186,875 |
| 2.5-3% | 20 | $3,200,000 | $160,000 |
| 4-5% | 16 | $2,240,000 | $140,000 |
| 6-7% | 1 | $25,000 | $25,000 |
During 2020, Jefferson Financial's average interest rate for loans was 3.83%, while their most frequently originated rate bucket for loans was 3-4%, with 32 originations.
Loan Sizing
2020 saw Jefferson Financial place emphasis on $100k-200k loans with 31 originations, totaling $4,505,000 in origination value.
Applicant Income
Jefferson Financial lent most frequently to those with incomes in the $100k-150k range, with 23 originations. The second most popular income band? $50k-75k, with 18 originations.
Applicant Debt to Income Ratio
Jefferson Financial lent most frequently to those with DTI ratios of 20-30%, with 19 originations. The next most common DTI ratio? 30-36%, with 16 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications73.68%
Jefferson Financial has a below average approval rate.
Pick Rate
Approvals leading to origination65.71%
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 | $300,000 | $150,000 |
| NA | 68 | $11,230,000 | $165,147 |
Occupancy Type Mix
| Dwelling Type | Originations | Total Value | Average Loan |
|---|---|---|---|
| Single Family (1-4 Units):Site-Built | 70 | $11,530,000 | $164,714 |