Financial Partners Credit Union Mortgage Rates, Fees & Info
Downey, CALEI: 549300B0HNWBV7RX2661
Tax ID: 95-1653038
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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.
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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| Home Equity Line of Credit (HELOC) | 6.56% | 11/17/24 |
| 30 Year Conventional Purchase | 6.04% | 11/17/24 |
| 30 Year Conventional Refi | 6.04% | 11/17/24 |
| 30 Year Cash-out Refi | 6.21% | 11/17/24 |
| 15 Year Conventional Purchase | 6.10% | 11/17/24 |
| 15 Year Conventional Refi | 5.82% | 11/17/24 |
| 15 Year Cash-out Refi | 5.82% | 11/17/24 |
| 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
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
841Origination Dollar Volume (All Markets)
$161,605,000Awards
Financial Partners Credit Union - 2023
Financial Partners Credit Union is a 2023 , due to their low .
For 2023, less than of lenders were eligible for this award.
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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% |
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.
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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
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
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
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
2023 saw Financial Partners Credit Union place emphasis on $100k-200k loans with 282 originations, totaling $37,990,000 in origination value.
Applicant Income
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
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
Approval Rates
Total approvals of all applications70.20%
Financial Partners Credit Union has a below average approval rate.
Pick Rate
Approvals leading to origination59.10%
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 |