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 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.
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Originations
26Origination Dollar Volume (All Markets)
$2,690,000Top Markets
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| Market | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| LAREDO, TX (FHA|USDA|VA) | 26 | $2,690,000 | $103,462 | $0 | 0.00% |
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
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
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
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 applications67.39%
Laredo Federal Credit Union has a low approval rate. They may have poor market targeting or stringent lending standards.
Pick Rate
Approvals leading to origination80.77%
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 |