Laredo Federal Credit Union Mortgage Rates, Fees & Info
Laredo, TXLEI: 5493004ZMFHUD3MB7B40
Tax ID: 74-1327724
Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data
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Mortgage Data
Review & Overview
Laredo Federal Credit Union is a smaller credit union specializing in Home Improvement and Cash Out Refi loans. Laredo Federal Credit Union has a high proportion of conventional loans. Their top two markets are Laredo and San Antonio .Laredo Federal Credit Union has a below average approval rate when compared to the average across all lenders.
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Originations
25Origination Dollar Volume (All Markets)
$2,385,000Top 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 |
|---|---|---|---|---|---|
| LAREDO, TX (FHA|USDA|VA) | 24 | $2,220,000 | $92,500 | $0 | 0.00% |
| SAN ANTONIO-NEW BRAUNFELS, TX (FHA|USDA|VA) | 1 | $165,000 | $165,000 | $0 | 0.00% |
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 25 | $2,385,000 | $95,400 | $0 | 0.00% |
For 2023, Laredo Federal Credit Union's most frequently originated type of loan was Conventional, with 25 originations.
Loan Reason
| Loan Reason | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Home Improvement | 13 | $995,000 | $76,538 | $0 | 0.00% |
| Cash Out Refi | 12 | $1,390,000 | $115,833 | $0 | 0.00% |
For 2023, Laredo Federal Credit Union's most frequently cited loan purpose was Home Improvement, with 13 originations. The 2nd most popular reason was Cash Out Refi, with 12 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Other | 25 | $2,385,000 | $95,400 | $0 | 0.00% |
For 2023, Laredo Federal Credit Union's most frequently cited loan duration was Other, with 25 originations.
Loan Sizing
2023 saw Laredo Federal Credit Union place emphasis on $100,000 or less loans with 17 originations, totaling $845,000 in origination value.
Applicant Income
Laredo Federal Credit Union lent most frequently to those with incomes in the $100k-150k range, with 7 originations. The second most popular income band? $50k-75k, with 7 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Exempt% | 25 | $2,385,000 | $95,400 | $0 | 0.00% |
Laredo Federal Credit Union lent most frequently to those with DTI ratios of Exempt%, with 25 originations.
Ethnicity Mix
| Applicant Ethnicity | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| White | 25 | $2,385,000 | $95,400 | $0 | 0.00% |
Approval Rates
Total approvals of all applications67.57%
Laredo Federal Credit Union has a low approval rate. They may have poor market targeting or stringent lending standards.
Pick Rate
Approvals leading to originationPoints and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| Exempt | 25 | $2,385,000 | $95,400 |