Long Beach City Employees Federal Credit Union Mortgage Rates, Fees & Info
Signal Hill, CALEI: 5493008WHMQTG21UHU90
Tax ID: 95-1652833
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Mortgage Data
Review & Overview
Long Beach City Employees Federal Credit Union is a smaller credit union specializing in Refi and Home Improvement loans. Long Beach City Employees Federal Credit Union has a high proportion of conventional loans. Their top markets by origination volume include: Los Angeles, Riverside, and Susanville among others. We have data for 3 markets. (Some data included below & more in-depth data is available with an active subscription.)Long Beach City Employees Federal Credit Union has an above average approval rate when compared to the average across all lenders. They have a below average pick rate when compared to similar lenders. Long Beach City Employees Federal Credit Union 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 | 5.56% | 4/18/24 |
| 30 Year Conventional Refi | 5.90% | 4/18/24 |
| 30 Year Cash-out Refi | 5.36% | 4/18/24 |
| 15 Year Conventional Purchase | 5.68% | 4/18/24 |
| 15 Year Conventional Refi | 4.91% | 4/18/24 |
| 15 Year Cash-out Refi | 4.91% | 4/18/24 |
| 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. | ||
Long Beach City Employees Federal Credit Union Mortgage Calculator
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
83Origination Dollar Volume (All Markets)
$28,825,000Awards
LONG BEACH CITY EMPLOYEES Federal Credit Union - 2020
LONG BEACH CITY EMPLOYEES Federal Credit Union is a 2020 , due to their low .
For 2020, 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 |
|---|---|---|---|---|---|
| Los Angeles-Long Beach-Anaheim, CA (FHA|USDA|VA) | 76 | $26,830,000 | $353,026 | $2,839 | 3.14% |
| RIVERSIDE-SAN BERNARDINO-ONTARIO, CA (FHA|USDA|VA) | 6 | $1,800,000 | $300,000 | $3,356 | 3.35% |
| Susanville, CA (FHA|USDA|VA) | 1 | $195,000 | $195,000 | $2,498 | 2.75% |
Their top states include:
Similar Lenders
We use machine learning to identify the top lenders compared against LONG BEACH CITY EMPLOYEES Federal Credit Union 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 | 83 | $28,825,000 | $347,289 | $2,873 | 3.15% |
For 2020, Long Beach City Employees Federal Credit Union's most frequently originated type of loan was Conventional, with 83 originations.
Loan Reason
For 2020, Long Beach City Employees Federal Credit Union's most frequently cited loan purpose was Refi, with 47 originations. The 2nd most popular reason was Home Improvement, with 26 originations.
Loan Duration/Length
For 2020, Long Beach City Employees Federal Credit Union's most frequently cited loan duration was 30 Year, with 40 originations. The 2nd most popular length was 15 Year, with 19 originations.
Origination Fees/Closing Costs
Long Beach City Employees Federal Credit Union's average total fees were $3,339, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 44 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 3-4% | 38 | $16,240,000 | $427,368 |
| 2.5-3% | 30 | $9,450,000 | $315,000 |
| <2.5% | 11 | $2,805,000 | $255,000 |
| 5-6% | 3 | $275,000 | $91,667 |
| 4-5% | 1 | $55,000 | $55,000 |
During 2020, Long Beach City Employees Federal Credit Union's average interest rate for loans was 3.28%, while their most frequently originated rate bucket for loans was 3-4%, with 38 originations.
Loan Sizing
2020 saw Long Beach City Employees Federal Credit Union place emphasis on $200k-400k loans with 37 originations, totaling $11,065,000 in origination value.
Applicant Income
Long Beach City Employees Federal Credit Union lent most frequently to those with incomes in the $150k-250k range, with 27 originations. The second most popular income band? $100k-150k, with 21 originations.
Applicant Debt to Income Ratio
Long Beach City Employees Federal Credit Union lent most frequently to those with DTI ratios of <20%, with 40 originations. The next most common DTI ratio? 20-30%, with 28 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications94.29%
Long Beach City Employees Federal Credit Union has an average approval rate.
Pick Rate
Approvals leading to origination81.93%
Long Beach City Employees Federal Credit Union has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 83 | $28,825,000 | $347,289 |
Occupancy Type Mix
| Dwelling Type | Originations | Total Value | Average Loan |
|---|---|---|---|
| Single Family (1-4 Units):Site-Built | 83 | $28,825,000 | $347,289 |
LTV Distribution
Complaints
| Bank Name | Product | Issue | 2020 CPFB Complaints | % of Total Issues |
|---|---|---|---|---|
| Long & Foster Financial Services, Inc. | VA mortgage | Trouble during payment process | 1 | 20.0% |
| Long & Foster Financial Services, Inc. | FHA mortgage | Closing on a mortgage | 2 | 40.0% |
| Long & Foster Financial Services, Inc. | Conventional home mortgage | Applying for a mortgage or refinancing an existing mortgage | 1 | 20.0% |
| Long & Foster Financial Services, Inc. | FHA mortgage | Applying for a mortgage or refinancing an existing mortgage | 1 | 20.0% |