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, Cash Out 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, Houma, Lake Charles, and Lafayette among others. We have data for 12 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
145Origination Dollar Volume (All Markets)
$24,215,000Awards
JEFFERSON FINANCIAL - 2021
JEFFERSON FINANCIAL is a 2021 , due to their low .
For 2021, 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) | 120 | $20,510,000 | $170,917 | $2,585 | 3.14% |
| BATON ROUGE, LA (FHA|USDA|VA) | 12 | $1,680,000 | $140,000 | $2,530 | 3.03% |
| HOUMA-THIBODAUX, LA (FHA|USDA|VA) | 2 | $390,000 | $195,000 | $2,755 | 2.94% |
| LAKE CHARLES, LA (FHA|USDA|VA) | 1 | $325,000 | $325,000 | $3,058 | 3.25% |
| LAFAYETTE, LA (FHA|USDA|VA) | 2 | $300,000 | $150,000 | $2,629 | 3.00% |
| HOUSTON-THE WOODLANDS-SUGAR LAND, TX (FHA|USDA|VA) | 1 | $225,000 | $225,000 | $3,218 | 2.88% |
| HOT SPRINGS, AR (FHA|USDA|VA) | 1 | $205,000 | $205,000 | $2,395 | 2.75% |
| Jennings, LA (FHA|USDA|VA) | 1 | $185,000 | $185,000 | $2,585 | 2.88% |
| Opelousas, LA (FHA|USDA|VA) | 1 | $115,000 | $115,000 | $2,554 | 2.88% |
| Outside of Metro Areas | 2 | $110,000 | $55,000 | $2,359 | 2.75% |
| HAMMOND, LA (FHA|USDA|VA) | 1 | $105,000 | $105,000 | $2,456 | 2.88% |
| Sevierville, TN (FHA|USDA|VA) | 1 | $65,000 | $65,000 | $2,282 | 3.13% |
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 | 141 | $23,895,000 | $169,468 | $2,584 | 3.07% |
| HELOC | 4 | $320,000 | $80,000 | n/a | 4.69% |
For 2021, Jefferson Financial's most frequently originated type of loan was Conventional, with 141 originations. Their 2nd most popular type was HELOC, with 4 originations.
Loan Reason
For 2021, Jefferson Financial's most frequently cited loan purpose was Refi, with 67 originations. The 2nd most popular reason was Cash Out Refi, with 45 originations.
Loan Duration/Length
For 2021, Jefferson Financial's most frequently cited loan duration was 30 Year, with 63 originations. The 2nd most popular length was 15 Year, with 45 originations.
Origination Fees/Closing Costs
| Origination Fee/Closing Cost | Originations | Total Value | Average Loan |
|---|---|---|---|
| $<1k | 138 | $23,300,000 | $168,841 |
| $1k-2k | 1 | $125,000 | $125,000 |
Jefferson Financial's average total fees were $2,734, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 138 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 2.5-3% | 70 | $9,500,000 | $135,714 |
| 3-4% | 67 | $14,215,000 | $212,164 |
| 4-5% | 7 | $435,000 | $62,143 |
| 5-6% | 1 | $65,000 | $65,000 |
During 2021, Jefferson Financial's average interest rate for loans was 3.26%, while their most frequently originated rate bucket for loans was 2.5-3%, with 70 originations.
Loan Sizing
2021 saw Jefferson Financial place emphasis on $100k-200k loans with 63 originations, totaling $8,835,000 in origination value.
Applicant Income
Jefferson Financial lent most frequently to those with incomes in the $75k-100k range, with 39 originations. The second most popular income band? $50k-75k, with 32 originations.
Applicant Debt to Income Ratio
Jefferson Financial lent most frequently to those with DTI ratios of 20-30%, with 53 originations. The next most common DTI ratio? 30-36%, with 35 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications82.63%
Jefferson Financial has a below average approval rate.
Pick Rate
Approvals leading to origination84.83%
Jefferson Financial has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| 0.0 | 1 | $35,000 | $35,000 |
| NA | 144 | $24,180,000 | $167,917 |