Financial Partners Credit Union Mortgage Rates, Fees & Info

Downey, CA

LEI: 549300B0HNWBV7RX2661

Tax ID: 95-1653038

5 stars - Updated: 4/14/24 - out of 5 stars, based on 29 reviews

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

Jump to:

Mortgage Data

Review & Overview

Financial Partners Credit Union is a smaller credit union specializing in Home Improvement, Other, and Home Purchase loans. Financial Partners Credit Union has a high proportion of conventional loans. They have a a low proportion of FHA loans. (This may mean they shy away from first time homebuyers.) Their top markets by origination volume include: Los Angeles, Riverside, San Diego, Oxnard, and San Francisco among others. We have data for 35 markets. (Some data included below & more in-depth data is available with an active subscription.)

Financial Partners Credit Union has an average approval rate when compared to the average across all lenders. They have a below average pick rate when compared to similar lenders. Financial Partners Credit Union is typically an average 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 relatively high 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.

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.

SimulatedRates™

Mortgage Type
Simulated Rate Simulation Date
Home Equity Line of Credit (HELOC) 6.56% 4/14/24
30 Year Conventional Purchase 6.04% 4/14/24
30 Year Conventional Refi 6.04% 4/14/24
30 Year Cash-out Refi 6.21% 4/14/24
15 Year Conventional Purchase 6.10% 4/14/24
15 Year Conventional Refi 5.82% 4/14/24
15 Year Cash-out Refi 5.82% 4/14/24
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.

Financial Partners Credit Union Mortgage Calculator






Your Estimates

Estimated Loan Payment: Update the calculator values and click calculate payment!

This is not an official calculator from Financial Partners Credit Union. It uses our SimulatedRate™ technology, basic math and reasonable assumptions to calculate mortgage payments derived from our simulations and your inputs.

The default purchase price is the median sales price across the US for 2022Q4, per FRED.


Originations

841

Origination Dollar Volume (All Markets)

$161,605,000

Awards

Financial Partners Credit Union 30 Year Conventional Loans gold Financial Partners Credit Union 30 Year Conventional Loans bronze
Show all (2) awards

Relative Rate

Financial Partners Credit Union's average 30 year fixed mortgage rate was 6.75%.

The 2023 average 30 year fixed rate mortgage across all markets and lenders was 6.48%.

This yields a difference of 0.27%.

Relative Fees (Closing Costs)

Financial Partners Credit Union's average total fees/closing costs for a 30 year fixed rate mortgage were $6,893.

The average total origination fees for 30 year fixed rate mortgages across all lenders (for all loan values, including both points & up-front fees in addition to origination fees) were $9,089.

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) 594 $119,120,000 $200,539 $5,824 8.07%
RIVERSIDE-SAN BERNARDINO-ONTARIO, CA (FHA|USDA|VA) 130 $21,240,000 $163,385 $7,053 8.00%
SAN DIEGO-CHULA VISTA-CARLSBAD, CA (FHA|USDA|VA) 27 $3,905,000 $144,630 $2,273 8.21%
OXNARD-THOUSAND OAKS-VENTURA, CA (FHA|USDA|VA) 18 $3,500,000 $194,444 $4,385 7.97%
San Francisco-Oakland-Berkeley, CA (FHA|USDA|VA) 16 $3,100,000 $193,750 $3,388 8.16%
BAKERSFIELD, CA (FHA|USDA|VA) 10 $1,770,000 $177,000 $6,732 7.63%
LAS VEGAS-HENDERSON-PARADISE, NV (FHA|USDA|VA) 5 $1,345,000 $269,000 $5,114 6.65%
MODESTO, CA (FHA|USDA|VA) 5 $665,000 $133,000 $0 8.20%
JACKSONVILLE, FL (FHA|USDA|VA) 1 $665,000 $665,000 $14,045 7.00%
Seattle-Tacoma-Bellevue, WA (FHA|USDA|VA) 1 $525,000 $525,000 $13,996 6.50%
PHOENIX-MESA-CHANDLER, AZ (FHA|USDA|VA) 2 $490,000 $245,000 $6,923 6.38%
SALINAS, CA (FHA|USDA|VA) 1 $465,000 $465,000 $3,388 7.38%
STOCKTON, CA (FHA|USDA|VA) 3 $465,000 $155,000 $695 9.19%
VALLEJO, CA (FHA|USDA|VA) 2 $380,000 $190,000 $6,608 8.50%
CHICO, CA (FHA|USDA|VA) 1 $345,000 $345,000 $4,216 6.00%
SACRAMENTO-ROSEVILLE-FOLSOM, CA (FHA|USDA|VA) 3 $335,000 $111,667 $0 8.17%
FRESNO, CA (FHA|USDA|VA) 2 $280,000 $140,000 $9,017 7.13%
Chicago-Naperville-Elgin, IL-IN-WI (FHA|USDA|VA) 1 $265,000 $265,000 $10,803 7.00%
ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) 1 $255,000 $255,000 $3,003 7.13%
SANTA CRUZ-WATSONVILLE, CA (FHA|USDA|VA) 1 $255,000 $255,000 $0 7.75%
SAN LUIS OBISPO-PASO ROBLES, CA (FHA|USDA|VA) 1 $255,000 $255,000 $3,338 6.38%
OCALA, FL (FHA|USDA|VA) 1 $245,000 $245,000 $8,884 5.99%
SANTA ROSA-PETALUMA, CA (FHA|USDA|VA) 1 $205,000 $205,000 $0 8.50%
SIERRA VISTA-DOUGLAS, AZ (FHA|USDA|VA) 1 $195,000 $195,000 $4,070 6.38%
HOUSTON-THE WOODLANDS-SUGAR LAND, TX (FHA|USDA|VA) 1 $185,000 $185,000 $8,024 6.63%
SAN JOSE-SUNNYVALE-SANTA CLARA, CA (FHA|USDA|VA) 1 $175,000 $175,000 $0 8.50%
VISALIA, CA (FHA|USDA|VA) 2 $160,000 $80,000 $0 8.00%
SANTA MARIA-SANTA BARBARA, CA (FHA|USDA|VA) 2 $160,000 $80,000 $0 7.75%
Glenwood Springs, CO (FHA|USDA|VA) 1 $145,000 $145,000 $3,793 6.75%
EL CENTRO, CA (FHA|USDA|VA) 1 $125,000 $125,000 $0 8.25%
CRESTVIEW-FORT WALTON BEACH-DESTIN, FL (FHA|USDA|VA) 1 $115,000 $115,000 $7,407 6.88%
Eureka-Arcata, CA (FHA|USDA|VA) 1 $105,000 $105,000 $0 8.00%
REDDING, CA (FHA|USDA|VA) 1 $65,000 $65,000 $0 7.75%
MADERA, CA (FHA|USDA|VA) 1 $65,000 $65,000 $0 8.25%
SAGINAW, MI (FHA|USDA|VA) 1 $35,000 $35,000 $3,501 7.13%
Financial Partners Credit Union's top markets include Los Angeles, Riverside, San Diego, Oxnard, and San Francisco among others.

Their top states include:
  • California (FHA|USDA|VA)
  • Nevada (FHA|USDA|VA)
  • Florida (FHA|USDA|VA)
  • Arizona (FHA|USDA|VA)
  • Washington (FHA|USDA|VA)
  • Similar Lenders

    We use machine learning to identify the top lenders compared against Financial Partners Credit Union based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.

    Los Angeles Federal Credit Union
    Similarity Rank: 72
    MISSION
    Similarity Rank: 93
    VENTURA COUNTY
    Similarity Rank: 96
    El Dorado Savings Bank, F.S.B.
    Similarity Rank: 126
    LBS FINANCIAL
    Similarity Rank: 258
    SAN DIEGO COUNTY CREDIT UNION
    Similarity Rank: 312
    CLARK COUNTY CREDIT UNION
    Similarity Rank: 330
    SOUTHLAND CREDIT UNION
    Similarity Rank: 342
    FIRST ENTERTAINMENT
    Similarity Rank: 351

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    HELOC 701 $98,495,000 $140,506 n/a 8.21%
    Conventional 136 $61,430,000 $451,691 $5,800 7.13%
    FHA 4 $1,680,000 $420,000 $11,888 6.37%

    For 2023, Financial Partners Credit Union's most frequently originated type of loan was HELOC, with 701 originations. Their 2nd most popular type was Conventional, with 136 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Improvement 386 $56,170,000 $145,518 $2,863 8.17%
    Other 293 $38,725,000 $132,167 $1,822 8.35%
    Home Purchase 104 $39,090,000 $375,865 $7,929 7.18%
    Cash Out Refi 43 $23,775,000 $552,907 $5,050 6.73%
    Refi 15 $3,845,000 $256,333 $5,497 7.87%

    For 2023, Financial Partners Credit Union's most frequently cited loan purpose was Home Improvement, with 386 originations. The 2nd most popular reason was Other, with 293 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 701 $98,495,000 $140,506 $0 8.21%
    30 Year 100 $41,170,000 $411,700 $6,893 6.75%
    15 Year 17 $10,035,000 $590,294 $1,681 7.81%
    20 Year 16 $3,530,000 $220,625 $3,321 8.84%
    10 Year 7 $8,375,000 $1,196,429 $0 6.49%

    For 2023, Financial Partners Credit Union's most frequently cited loan duration was Other, with 701 originations. The 2nd most popular length was 30 Year, with 100 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $1k-2k 72 $26,580,000 $369,167
    $5k+ 21 $11,205,000 $533,571
    $<1k 17 $2,255,000 $132,647
    $2k-3k 8 $2,590,000 $323,750
    $4k-5k 6 $1,900,000 $316,667
    $3k-4k 3 $1,195,000 $398,333

    Financial Partners Credit Union's average total fees were $6,893, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 72 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    Over 8% 459 $61,205,000 $133,344
    7-8% 291 $55,445,000 $190,533
    6-7% 70 $37,570,000 $536,714
    5-6% 20 $7,210,000 $360,500

    During 2023, Financial Partners Credit Union's average interest rate for loans was 6.75%, while their most frequently originated rate bucket for loans was Over 8%, with 459 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100k-200k 282 $37,990,000 $134,716 $3,387 8.17%
    $100,000 or less 258 $15,890,000 $61,589 $1,773 8.31%
    $200k-400k 244 $61,960,000 $253,934 $5,816 7.89%
    $600k-1MM 24 $17,120,000 $713,333 $8,322 6.72%
    $400k-600k 21 $10,375,000 $494,048 $9,175 6.49%
    $1MM+ 12 $18,270,000 $1,522,500 $20,118 6.79%

    2023 saw Financial Partners Credit Union place emphasis on $100k-200k loans with 282 originations, totaling $37,990,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $150k-250k 247 $51,155,000 $207,105 $7,675 8.01%
    $100k-150k 242 $38,490,000 $159,050 $5,559 8.11%
    $75k-100k 133 $17,655,000 $132,744 $4,893 8.05%
    $250k+ 87 $24,755,000 $284,540 $8,035 7.92%
    $50k-75k 76 $7,150,000 $94,079 $3,569 8.18%
    $50k or less 43 $5,015,000 $116,628 $3,226 7.97%

    Financial Partners Credit Union lent most frequently to those with incomes in the $150k-250k range, with 247 originations. The second most popular income band? $100k-150k, with 242 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    50-60% 159 $21,425,000 $134,748 $12,336 8.25%
    20-30% 104 $19,070,000 $183,365 $5,097 7.81%
    30-36% 93 $20,665,000 $222,204 $5,784 7.88%
    49% 57 $11,455,000 $200,965 $7,962 7.93%
    45% 38 $7,680,000 $202,105 $5,959 8.13%
    48% 38 $5,230,000 $137,632 $2,283 8.20%
    47% 34 $5,170,000 $152,059 $5,588 8.17%
    40% 34 $6,780,000 $199,412 $6,687 7.96%
    46% 34 $5,780,000 $170,000 $7,291 8.34%
    44% 31 $4,615,000 $148,871 $4,758 8.23%
    41% 31 $6,155,000 $198,548 $6,611 8.00%
    43% 29 $4,525,000 $156,034 $7,529 8.01%
    37% 27 $3,735,000 $138,333 $9,138 8.01%
    39% 27 $5,695,000 $210,926 $5,612 7.76%
    38% 25 $3,925,000 $157,000 $7,407 8.05%
    36% 24 $4,280,000 $178,333 $4,427 8.17%
    42% 22 $4,100,000 $186,364 $0 8.14%
    <20% 18 $3,550,000 $197,222 $6,141 7.82%
    >60% 3 $385,000 $128,333 $0 8.33%

    Financial Partners Credit Union lent most frequently to those with DTI ratios of 50-60%, with 159 originations. The next most common DTI ratio? 20-30%, with 104 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 607 $99,055,000 $163,188 $5,552 8.10%
    Asian 102 $18,400,000 $180,392 $6,513 8.13%
    Not provided 54 $18,170,000 $336,481 $6,242 7.35%
    Not applicable 11 $14,245,000 $1,295,000 $0 6.74%
    Black 46 $7,250,000 $157,609 $8,828 8.17%
    American Indian 5 $1,355,000 $271,000 $4,512 7.33%
    Native Hawaiian or Islander 6 $880,000 $146,667 $9,985 8.17%
    Filipino 3 $565,000 $188,333 $3,869 7.75%
    Asian Indian 2 $460,000 $230,000 $4,261 6.94%
    Other Pacific Islander 1 $395,000 $395,000 $10,127 7.00%
    Other Asian 2 $310,000 $155,000 $9,017 7.38%
    Vietnamese 1 $265,000 $265,000 $10,803 7.00%
    Korean 1 $255,000 $255,000 $0 7.50%

    Approval Rates

    Total approvals of all applications
    70.20%

    Financial Partners Credit Union has a below average approval rate.

    Pick Rate

    Approvals leading to origination
    59.10%

    Financial Partners Credit Union has a low pick rate. They may have issues with closing loans or may approve everyone, but with onerous loan terms.

    Points and Fees

    Points Originations Total Value Average Loan
    0.0 271 $39,505,000 $145,775
    NA 570 $122,100,000 $214,211

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    841 $161,605,000 $192,158

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 219 $47,165,000 $215,365 $3,864 8.09%
    40-60% 35 $15,625,000 $446,429 $5,932 7.04%
    60-80% 42 $29,320,000 $698,095 $9,052 6.77%
    80-100% 26 $12,350,000 $475,000 $7,874 6.64%
    Under 20% 518 $56,970,000 $109,981 $1,958 8.24%