Laredo Federal Credit Union Mortgage Rates, Fees & Info
Laredo, TXLEI: 5493004ZMFHUD3MB7B40
Tax ID: 74-1327724
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Mortgage Data
Review & Overview
Laredo Federal Credit Union is a smaller credit union specializing in Refi and Home Improvement loans. Laredo Federal Credit Union has a high proportion of conventional loans. Their top (well, only) market is Laredo.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)
$1,735,000Top 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) | 25 | $1,735,000 | $69,400 | $0 | 0.00% |
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 25 | $1,735,000 | $69,400 | $0 | 0.00% |
For 2019, 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 |
|---|---|---|---|---|---|
| Refi | 13 | $1,045,000 | $80,385 | $0 | 0.00% |
| Home Improvement | 11 | $615,000 | $55,909 | $0 | 0.00% |
| Home Purchase | 1 | $75,000 | $75,000 | $0 | 0.00% |
For 2019, Laredo Federal Credit Union's most frequently cited loan purpose was Refi, with 13 originations. The 2nd most popular reason was Home Improvement, with 11 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Other | 25 | $1,735,000 | $69,400 | $0 | 0.00% |
For 2019, Laredo Federal Credit Union's most frequently cited loan duration was Other, with 25 originations.
Loan Sizing
| Loan Size | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| $100,000 or less | 19 | $1,035,000 | $54,474 | $0 | 0.00% |
| $100k-200k | 6 | $700,000 | $116,667 | $0 | 0.00% |
2019 saw Laredo Federal Credit Union place emphasis on $100,000 or less loans with 19 originations, totaling $1,035,000 in origination value.
Applicant Income
Laredo Federal Credit Union lent most frequently to those with incomes in the $100k-150k range, with 8 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 | $1,735,000 | $69,400 | $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 | $1,735,000 | $69,400 | $0 | 0.00% |
Approval Rates
Total approvals of all applications58.14%
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 | $1,735,000 | $69,400 |