Financial Partners Credit Union Mortgage Rates, Fees & Info

Downey, CA

LEI: 549300B0HNWBV7RX2661

Tax ID: 95-1653038

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

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  • SimulatedRates™
  • Mortgage Calculator

    • Mortgage Data

  • Originations
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • Complaints
  • Similar Lenders
  • Loan Length
  • Loan to Value Info
  • Debt-to-Income
  • Applicant Income
  • Ethnicity Info
  • Approval & Pick Rates
  • Points and Fees
  • Origination Fees (Closing Costs)

    • Review & Overview

    Financial Partners Credit Union is a smaller credit union specializing in Cash Out Refi, Refi, and Home Purchase loans. Financial Partners Credit Union has a high proportion of conventional loans. Their top markets by origination volume include: Los Angeles, Riverside, San Diego, Oxnard, and San Francisco among others. We have data for 22 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 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.

    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% 4/21/24
    30 Year Conventional Purchase 6.04% 4/21/24
    30 Year Conventional Refi 6.04% 4/21/24
    30 Year Cash-out Refi 6.21% 4/21/24
    15 Year Conventional Purchase 6.10% 4/21/24
    15 Year Conventional Refi 5.82% 4/21/24
    15 Year Cash-out Refi 5.82% 4/21/24
    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

    1,219

    Origination Dollar Volume (All Markets)

    $655,005,000
    Show all (9) awards

    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) 927 $535,185,000 $577,330 $3,301 3.66%
    RIVERSIDE-SAN BERNARDINO-ONTARIO, CA (FHA|USDA|VA) 151 $51,435,000 $340,629 $3,199 3.70%
    SAN DIEGO-CHULA VISTA-CARLSBAD, CA (FHA|USDA|VA) 43 $19,525,000 $454,070 $3,160 3.66%
    OXNARD-THOUSAND OAKS-VENTURA, CA (FHA|USDA|VA) 41 $18,465,000 $450,366 $2,962 3.54%
    San Francisco-Oakland-Berkeley, CA (FHA|USDA|VA) 15 $10,875,000 $725,000 $3,002 3.72%
    SAN JOSE-SUNNYVALE-SANTA CLARA, CA (FHA|USDA|VA) 8 $4,060,000 $507,500 $2,790 3.42%
    EL CENTRO, CA (FHA|USDA|VA) 1 $3,405,000 $3,405,000 $0 3.80%
    Outside of Metro Areas 1 $2,415,000 $2,415,000 $0 3.60%
    SACRAMENTO-ROSEVILLE-FOLSOM, CA (FHA|USDA|VA) 6 $1,780,000 $296,667 $2,880 3.46%
    DENVER-AURORA-LAKEWOOD, CO (FHA|USDA|VA) 4 $1,580,000 $395,000 $2,624 3.56%
    BAKERSFIELD, CA (FHA|USDA|VA) 5 $1,135,000 $227,000 $3,009 3.90%
    SAN LUIS OBISPO-PASO ROBLES, CA (FHA|USDA|VA) 3 $865,000 $288,333 $3,982 4.00%
    SALINAS, CA (FHA|USDA|VA) 1 $755,000 $755,000 $3,994 2.75%
    AUSTIN-ROUND ROCK-GEORGETOWN, TX (FHA|USDA|VA) 1 $715,000 $715,000 $0 3.38%
    MODESTO, CA (FHA|USDA|VA) 3 $655,000 $218,333 $2,558 3.58%
    SANTA ROSA-PETALUMA, CA (FHA|USDA|VA) 1 $485,000 $485,000 $2,678 3.38%
    STOCKTON, CA (FHA|USDA|VA) 1 $445,000 $445,000 $2,193 3.25%
    Detroit-Warren-Dearborn, MI (FHA|USDA|VA) 2 $410,000 $205,000 $2,477 3.69%
    CHICO, CA (FHA|USDA|VA) 2 $350,000 $175,000 $2,762 3.94%
    VALLEJO, CA (FHA|USDA|VA) 1 $215,000 $215,000 $2,483 3.25%
    REDDING, CA (FHA|USDA|VA) 1 $205,000 $205,000 $3,432 3.63%
    Eureka-Arcata, CA (FHA|USDA|VA) 1 $45,000 $45,000 $0 4.50%
    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)
  • Colorado (FHA|USDA|VA)
  • Texas (FHA|USDA|VA)
  • Michigan (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.

    MYPOINT Credit Union
    Similarity Rank: 147
    Christian Community Credit Union
    Similarity Rank: 220
    SIMPLIFI MORTGAGE, LLC
    Similarity Rank: 288
    LONG BEACH CITY EMPLOYEES Federal Credit Union
    Similarity Rank: 290
    HERITAGE COMMUNITY CREDIT UNION
    Similarity Rank: 318
    SAFEAMERICA CREDIT UNION
    Similarity Rank: 368
    Nevada Mortgage Inc.
    Similarity Rank: 401
    SOUTHLAND CREDIT UNION
    Similarity Rank: 464
    El Dorado Savings Bank, F.S.B.
    Similarity Rank: 546
    ALOHA PACIFIC
    Similarity Rank: 695

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 1,202 $653,340,000 $543,544 $3,248 3.65%
    HELOC 17 $1,665,000 $97,941 n/a 4.50%

    For 2019, Financial Partners Credit Union's most frequently originated type of loan was Conventional, with 1,202 originations. Their 2nd most popular type was HELOC, with 17 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Cash Out Refi 467 $289,555,000 $620,032 $3,386 3.65%
    Refi 397 $171,965,000 $433,161 $2,774 3.44%
    Home Purchase 216 $153,700,000 $711,574 $4,616 3.75%
    Other 124 $36,670,000 $295,726 $2,456 4.21%
    Home Improvement 15 $3,115,000 $207,667 $2,193 4.05%

    For 2019, Financial Partners Credit Union's most frequently cited loan purpose was Cash Out Refi, with 467 originations. The 2nd most popular reason was Refi, with 397 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 882 $379,930,000 $430,760 $3,390 3.64%
    15 Year 144 $63,500,000 $440,972 $2,597 3.56%
    10 Year 128 $194,610,000 $1,520,391 $2,565 3.73%
    20 Year 47 $13,785,000 $293,298 $2,502 3.83%
    Other 18 $3,180,000 $176,667 $5,138 4.42%

    For 2019, Financial Partners Credit Union's most frequently cited loan duration was 30 Year, with 882 originations. The 2nd most popular length was 15 Year, with 144 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 821 $340,145,000 $414,306
    $1k-2k 138 $45,210,000 $327,609
    $2k-3k 38 $13,010,000 $342,368
    $5k+ 37 $19,125,000 $516,892
    $3k-4k 24 $9,350,000 $389,583
    $4k-5k 13 $5,635,000 $433,462

    Financial Partners Credit Union's average total fees were $3,390, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 821 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    3-4% 883 $499,935,000 $566,178
    4-5% 183 $91,915,000 $502,268
    2.5-3% 121 $54,735,000 $452,355
    5-6% 22 $3,880,000 $176,364
    6-7% 7 $445,000 $63,571
    <2.5% 3 $4,095,000 $1,365,000

    During 2019, Financial Partners Credit Union's average interest rate for loans was 3.64%, while their most frequently originated rate bucket for loans was 3-4%, with 883 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 464 $142,010,000 $306,056 $3,119 3.63%
    $400k-600k 363 $172,465,000 $475,110 $3,455 3.61%
    $600k-1MM 147 $107,555,000 $731,667 $3,891 3.51%
    $1MM+ 109 $216,435,000 $1,985,642 $5,448 3.63%
    $100k-200k 93 $13,935,000 $149,839 $2,531 3.78%
    $100,000 or less 43 $2,605,000 $60,581 $1,182 4.78%

    2019 saw Financial Partners Credit Union place emphasis on $200k-400k loans with 464 originations, totaling $142,010,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 357 $142,835,000 $400,098 $3,174 3.65%
    $150k-250k 283 $132,705,000 $468,922 $3,562 3.58%
    $75k-100k 199 $61,345,000 $308,266 $2,919 3.77%
    $50k-75k 131 $33,985,000 $259,427 $2,930 3.70%
    $250k+ 81 $57,085,000 $704,753 $4,171 3.50%
    $50k or less 37 $6,185,000 $167,162 $2,471 3.69%

    Financial Partners Credit Union lent most frequently to those with incomes in the $100k-150k range, with 357 originations. The second most popular income band? $150k-250k, with 283 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    30-36% 212 $83,850,000 $395,519 $3,086 3.61%
    20-30% 191 $77,835,000 $407,513 $3,258 3.53%
    43% 61 $24,355,000 $399,262 $3,436 3.70%
    <20% 60 $18,210,000 $303,500 $2,921 3.50%
    37% 59 $23,385,000 $396,356 $3,498 3.68%
    41% 55 $23,575,000 $428,636 $3,194 3.65%
    39% 55 $23,765,000 $432,091 $3,198 3.61%
    44% 52 $19,980,000 $384,231 $3,008 3.63%
    42% 51 $17,675,000 $346,569 $3,186 3.95%
    45% 45 $17,215,000 $382,556 $2,842 3.79%
    49% 42 $17,950,000 $427,381 $3,873 3.75%
    36% 38 $17,350,000 $456,579 $3,058 3.70%
    47% 35 $13,895,000 $397,000 $3,661 3.74%
    40% 35 $13,655,000 $390,143 $3,314 3.69%
    46% 33 $11,935,000 $361,667 $3,758 3.78%
    38% 33 $15,375,000 $465,909 $3,519 3.50%
    48% 25 $10,175,000 $407,000 $3,299 3.82%
    50-60% 6 $3,960,000 $660,000 $3,673 3.71%

    Financial Partners Credit Union lent most frequently to those with DTI ratios of 30-36%, with 212 originations. The next most common DTI ratio? 20-30%, with 191 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 656 $263,440,000 $401,585 $3,212 3.66%
    Not applicable 102 $178,860,000 $1,753,529 $0 3.74%
    Not provided 225 $111,975,000 $497,667 $3,196 3.68%
    Asian 173 $74,955,000 $433,266 $3,308 3.53%
    Black 41 $15,485,000 $377,683 $3,913 3.73%
    American Indian 14 $4,800,000 $342,857 $3,091 3.82%
    Asian Indian 1 $2,625,000 $2,625,000 $0 4.00%
    Native Hawaiian or Islander 5 $2,085,000 $417,000 $2,713 3.85%
    Chinese 1 $405,000 $405,000 $0 4.35%
    Filipino 1 $375,000 $375,000 $4,887 3.88%

    Approval Rates

    Total approvals of all applications
    86.11%

    Financial Partners Credit Union has an average approval rate.

    Pick Rate

    Approvals leading to origination
    55.29%

    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
    NA 1,219 $655,005,000 $537,330

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Site-Built 131 $220,865,000 $1,685,992
    Single Family (1-4 Units):Site-Built 1,088 $434,140,000 $399,026

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 135 $36,105,000 $267,444 $2,788 3.60%
    40-60% 311 $165,855,000 $533,296 $2,946 3.51%
    60-80% 546 $364,570,000 $667,711 $3,515 3.65%
    80-100% 165 $80,955,000 $490,636 $3,894 3.71%
    Under 20% 60 $6,630,000 $110,500 $1,364 4.57%

    Complaints

    Bank Name Product Issue 2019 CPFB Complaints % of Total Issues
    Financial Freedom Mortgage, LLC Conventional home mortgage Applying for a mortgage or refinancing an existing mortgage 1 50.0%
    Financial Freedom Mortgage, LLC VA mortgage Trouble during payment process 1 50.0%