Laredo Federal Credit Union Mortgage Rates, Fees & Info

Laredo, TX

LEI: 5493004ZMFHUD3MB7B40

Tax ID: 74-1327724

Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data

Jump to:

Mortgage Data

Review & Overview

Laredo Federal Credit Union is a smaller credit union specializing in Refi and Home Purchase 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. They have a below average pick rate when compared to similar lenders.

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.

Mortgage seekers: Choose your metro area here to explore the lowest fee & rate lenders.

Mortgage professionals: We have various tools to make your lives easier. Contact us to see how we can help with your market research, analytics or advertising needs.


Originations

26

Origination Dollar Volume (All Markets)

$2,690,000

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
LAREDO, TX (FHA|USDA|VA) 26 $2,690,000 $103,462 $0 0.00%
Laredo Federal Credit Union's top markets include and Laredo among others.

Their top states include:
  • Texas (FHA|USDA|VA)
  • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 26 $2,690,000 $103,462 $0 0.00%

    For 2020, Laredo Federal Credit Union's most frequently originated type of loan was Conventional, with 26 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Refi 17 $1,465,000 $86,176 $0 0.00%
    Home Improvement 5 $315,000 $63,000 $0 0.00%
    Home Purchase 3 $815,000 $271,667 $0 0.00%
    Other 1 $95,000 $95,000 $0 0.00%

    For 2020, Laredo Federal Credit Union's most frequently cited loan purpose was Refi, with 17 originations. The 2nd most popular reason was Home Improvement, with 5 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 26 $2,690,000 $103,462 $0 0.00%

    For 2020, Laredo Federal Credit Union's most frequently cited loan duration was Other, with 26 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 19 $1,145,000 $60,263 $0 0.00%
    $100k-200k 5 $785,000 $157,000 $0 0.00%
    $200k-400k 2 $760,000 $380,000 $0 0.00%

    2020 saw Laredo Federal Credit Union place emphasis on $100,000 or less loans with 19 originations, totaling $1,145,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 7 $1,005,000 $143,571 $0 0.00%
    $75k-100k 7 $525,000 $75,000 $0 0.00%
    $50k-75k 5 $425,000 $85,000 $0 0.00%
    $50k or less 4 $200,000 $50,000 $0 0.00%
    $150k-250k 2 $140,000 $70,000 $0 0.00%
    $250k+ 1 $395,000 $395,000 $0 0.00%

    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? $75k-100k, with 7 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 26 $2,690,000 $103,462 $0 0.00%

    Laredo Federal Credit Union lent most frequently to those with DTI ratios of Exempt%, with 26 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 26 $2,690,000 $103,462 $0 0.00%

    Approval Rates

    Total approvals of all applications
    67.39%

    Laredo Federal Credit Union has a low approval rate. They may have poor market targeting or stringent lending standards.

    Pick Rate

    Approvals leading to origination
    80.77%

    Laredo Federal Credit Union has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 26 $2,690,000 $103,462

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Single Family (1-4 Units):Site-Built 26 $2,690,000 $103,462