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

Jump to:

  • 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 small credit union specializing in Refi, Cash Out 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 Francisco, San Diego, and Oxnard among others. We have data for 34 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.

    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% 4/18/24
    30 Year Conventional Purchase 6.04% 4/18/24
    30 Year Conventional Refi 6.04% 4/18/24
    30 Year Cash-out Refi 6.21% 4/18/24
    15 Year Conventional Purchase 6.10% 4/18/24
    15 Year Conventional Refi 5.82% 4/18/24
    15 Year Cash-out Refi 5.82% 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.

    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

    2,294

    Origination Dollar Volume (All Markets)

    $1,177,000,000
    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) 1,633 $893,345,000 $547,058 $3,513 3.26%
    RIVERSIDE-SAN BERNARDINO-ONTARIO, CA (FHA|USDA|VA) 276 $97,550,000 $353,442 $3,509 3.28%
    San Francisco-Oakland-Berkeley, CA (FHA|USDA|VA) 66 $47,510,000 $719,848 $3,434 3.17%
    SAN DIEGO-CHULA VISTA-CARLSBAD, CA (FHA|USDA|VA) 76 $39,290,000 $516,974 $3,124 3.21%
    OXNARD-THOUSAND OAKS-VENTURA, CA (FHA|USDA|VA) 70 $27,490,000 $392,714 $3,697 3.32%
    SAN JOSE-SUNNYVALE-SANTA CLARA, CA (FHA|USDA|VA) 26 $26,640,000 $1,024,615 $3,977 2.78%
    LAS VEGAS-HENDERSON-PARADISE, NV (FHA|USDA|VA) 46 $14,300,000 $310,870 $3,779 2.97%
    PHOENIX-MESA-CHANDLER, AZ (FHA|USDA|VA) 14 $4,990,000 $356,429 $4,094 3.00%
    BAKERSFIELD, CA (FHA|USDA|VA) 11 $2,995,000 $272,273 $3,300 3.22%
    STOCKTON, CA (FHA|USDA|VA) 7 $2,945,000 $420,714 $2,488 3.18%
    SACRAMENTO-ROSEVILLE-FOLSOM, CA (FHA|USDA|VA) 11 $2,925,000 $265,909 $3,175 3.45%
    SANTA ROSA-PETALUMA, CA (FHA|USDA|VA) 4 $1,830,000 $457,500 $2,823 2.91%
    LAKE HAVASU CITY-KINGMAN, AZ (FHA|USDA|VA) 7 $1,825,000 $260,714 $3,387 3.00%
    SAN LUIS OBISPO-PASO ROBLES, CA (FHA|USDA|VA) 4 $1,700,000 $425,000 $2,808 3.00%
    MODESTO, CA (FHA|USDA|VA) 7 $1,575,000 $225,000 $2,534 3.11%
    Outside of Metro Areas 4 $1,480,000 $370,000 $3,457 2.81%
    SALINAS, CA (FHA|USDA|VA) 3 $1,255,000 $418,333 $5,010 2.41%
    SANTA CRUZ-WATSONVILLE, CA (FHA|USDA|VA) 2 $1,100,000 $550,000 $3,398 3.38%
    VALLEJO, CA (FHA|USDA|VA) 3 $995,000 $331,667 $3,342 3.33%
    MERCED, CA (FHA|USDA|VA) 2 $660,000 $330,000 $2,885 2.81%
    CHICO, CA (FHA|USDA|VA) 2 $640,000 $320,000 $4,143 2.88%
    Detroit-Warren-Dearborn, MI (FHA|USDA|VA) 4 $630,000 $157,500 $2,408 3.16%
    FRESNO, CA (FHA|USDA|VA) 3 $525,000 $175,000 $2,261 3.58%
    COLORADO SPRINGS, CO (FHA|USDA|VA) 1 $505,000 $505,000 $2,423 3.13%
    DENVER-AURORA-LAKEWOOD, CO (FHA|USDA|VA) 2 $500,000 $250,000 $2,461 2.69%
    PRESCOTT VALLEY-PRESCOTT, AZ (FHA|USDA|VA) 1 $435,000 $435,000 $2,123 2.88%
    Truckee-Grass Valley, CA (FHA|USDA|VA) 1 $215,000 $215,000 $0 4.25%
    RENO, NV (FHA|USDA|VA) 1 $215,000 $215,000 $2,545 3.25%
    REDDING, CA (FHA|USDA|VA) 1 $205,000 $205,000 $2,345 2.88%
    LANSING-EAST LANSING, MI (FHA|USDA|VA) 2 $200,000 $100,000 $3,319 3.25%
    TUCSON, AZ (FHA|USDA|VA) 1 $195,000 $195,000 $3,967 3.00%
    EL CENTRO, CA (FHA|USDA|VA) 1 $175,000 $175,000 $2,598 3.13%
    YUMA, AZ (FHA|USDA|VA) 1 $85,000 $85,000 $2,673 2.38%
    Sonora, CA (FHA|USDA|VA) 1 $75,000 $75,000 $1,935 2.75%
    Financial Partners Credit Union's top markets include Los Angeles, Riverside, San Francisco, San Diego, and Oxnard among others.

    Their top states include:
  • California (FHA|USDA|VA)
  • Nevada (FHA|USDA|VA)
  • Arizona (FHA|USDA|VA)
  • Colorado (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.

    Christian Community Credit Union
    Similarity Rank: 354
    Credence Funding Corporation
    Similarity Rank: 404
    El Dorado Savings Bank, F.S.B.
    Similarity Rank: 624
    ALOHA PACIFIC
    Similarity Rank: 670
    LONG BEACH CITY EMPLOYEES Federal Credit Union
    Similarity Rank: 825
    MYPOINT Credit Union
    Similarity Rank: 924
    Chaffey Federal Credit Union
    Similarity Rank: 966
    HERITAGE COMMUNITY CREDIT UNION
    Similarity Rank: 1134
    1ST NORTHERN CALIFORNIA
    Similarity Rank: 1164
    LA Financial Federal Credit Union
    Similarity Rank: 1374

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 1,771 $1,094,795,000 $618,179 $3,501 2.92%
    HELOC 523 $82,205,000 $157,180 n/a 4.31%

    For 2021, Financial Partners Credit Union's most frequently originated type of loan was Conventional, with 1,771 originations. Their 2nd most popular type was HELOC, with 523 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Refi 786 $406,770,000 $517,519 $2,937 2.81%
    Cash Out Refi 645 $406,605,000 $630,395 $3,452 2.99%
    Home Improvement 397 $63,685,000 $160,416 $2,323 4.25%
    Home Purchase 334 $275,110,000 $823,683 $5,710 3.14%
    Other 132 $24,830,000 $188,106 $3,687 4.16%

    For 2021, Financial Partners Credit Union's most frequently cited loan purpose was Refi, with 786 originations. The 2nd most popular reason was Cash Out Refi, with 645 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 1,305 $714,745,000 $547,697 $3,702 2.93%
    Other 523 $82,205,000 $157,180 $0 4.31%
    10 Year 211 $281,215,000 $1,332,773 $2,210 3.20%
    15 Year 174 $74,450,000 $427,874 $2,424 2.62%
    20 Year 81 $24,385,000 $301,049 $2,857 2.77%

    For 2021, Financial Partners Credit Union's most frequently cited loan duration was 30 Year, with 1,305 originations. The 2nd most popular length was Other, with 523 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 1,169 $643,615,000 $550,569
    $1k-2k 195 $64,055,000 $328,487
    $5k+ 79 $43,045,000 $544,873
    $2k-3k 73 $25,605,000 $350,753
    $3k-4k 35 $12,925,000 $369,286
    $4k-5k 25 $10,505,000 $420,200

    Financial Partners Credit Union's average total fees were $3,702, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 1,169 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    2.5-3% 943 $480,185,000 $509,210
    3-4% 564 $435,290,000 $771,791
    4-5% 521 $82,925,000 $159,165
    <2.5% 257 $178,065,000 $692,860
    5-6% 9 $535,000 $59,444

    During 2021, Financial Partners Credit Union's average interest rate for loans was 2.93%, while their most frequently originated rate bucket for loans was 2.5-3%, with 943 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 781 $224,765,000 $287,791 $3,036 3.22%
    $400k-600k 414 $199,260,000 $481,304 $3,607 2.96%
    $100k-200k 338 $48,770,000 $144,290 $2,651 3.62%
    $600k-1MM 299 $237,975,000 $795,903 $4,363 2.94%
    $1MM+ 274 $454,210,000 $1,657,701 $4,912 2.92%
    $100,000 or less 188 $12,020,000 $63,936 $2,146 4.19%

    2021 saw Financial Partners Credit Union place emphasis on $200k-400k loans with 781 originations, totaling $224,765,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k or less 592 $97,670,000 $164,983 $2,577 4.10%
    $100k-150k 403 $161,325,000 $400,310 $3,283 2.93%
    $150k-250k 389 $222,185,000 $571,170 $3,754 2.86%
    $250k+ 287 $269,675,000 $939,634 $4,320 2.79%
    $75k-100k 253 $84,205,000 $332,826 $3,287 2.97%
    $50k-75k 175 $46,895,000 $267,971 $2,890 2.91%

    Financial Partners Credit Union lent most frequently to those with incomes in the $50k or less range, with 592 originations. The second most popular income band? $100k-150k, with 403 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 377 $165,945,000 $440,172 $3,248 3.08%
    30-36% 359 $169,975,000 $473,468 $3,609 3.11%
    <20% 161 $75,085,000 $466,366 $3,268 3.02%
    50-60% 112 $19,870,000 $177,411 $5,172 4.24%
    39% 91 $37,315,000 $410,055 $3,835 3.13%
    44% 89 $34,085,000 $382,978 $3,315 3.17%
    41% 86 $40,990,000 $476,628 $3,867 3.17%
    38% 85 $34,085,000 $401,000 $3,933 3.21%
    37% 83 $36,535,000 $440,181 $3,892 3.20%
    42% 82 $39,980,000 $487,561 $3,555 3.21%
    43% 82 $30,620,000 $373,415 $3,404 3.34%
    48% 79 $31,655,000 $400,696 $3,698 3.45%
    36% 77 $39,205,000 $509,156 $3,586 3.04%
    49% 73 $24,095,000 $330,068 $2,923 3.32%
    40% 67 $28,055,000 $418,731 $3,428 3.29%
    45% 67 $24,125,000 $360,075 $2,966 3.38%
    47% 67 $27,495,000 $410,373 $3,869 3.26%
    46% 61 $22,435,000 $367,787 $3,636 3.40%
    >60% 1 $405,000 $405,000 $0 4.25%

    Financial Partners Credit Union lent most frequently to those with DTI ratios of 20-30%, with 377 originations. The next most common DTI ratio? 30-36%, with 359 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 1,146 $462,770,000 $403,813 $3,437 3.20%
    Not provided 577 $254,495,000 $441,066 $3,483 3.38%
    Not applicable 153 $245,045,000 $1,601,601 $0 3.32%
    Asian 227 $123,965,000 $546,101 $3,832 3.11%
    Asian Indian 43 $37,465,000 $871,279 $3,811 2.89%
    Black 88 $30,830,000 $350,341 $3,573 3.21%
    American Indian 24 $7,770,000 $323,750 $3,036 3.18%
    Filipino 13 $4,725,000 $363,462 $2,535 3.36%
    Native Hawaiian or Islander 9 $3,905,000 $433,889 $3,040 3.19%
    Chinese 4 $2,650,000 $662,500 $4,384 2.69%
    Other Asian 3 $2,055,000 $685,000 $3,646 2.46%
    Vietnamese 4 $1,060,000 $265,000 $8,798 4.00%
    Korean 1 $145,000 $145,000 $2,003 2.88%
    Guamanian 1 $65,000 $65,000 $0 4.75%
    Japanese 1 $55,000 $55,000 $0 4.25%

    Approval Rates

    Total approvals of all applications
    87.99%

    Financial Partners Credit Union has an average approval rate.

    Pick Rate

    Approvals leading to origination
    69.18%

    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 65 $11,195,000 $172,231
    NA 2,229 $1,165,805,000 $523,017

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    2,294 $1,177,000,000 $513,078

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 472 $125,910,000 $266,758 $2,803 3.42%
    40-60% 568 $314,000,000 $552,817 $2,972 2.90%
    60-80% 757 $614,065,000 $811,182 $4,000 3.00%
    80-100% 132 $78,570,000 $595,227 $5,125 2.93%
    Over 100% 1 $895,000 $895,000 $0 3.35%
    Under 20% 363 $43,335,000 $119,380 $2,370 4.15%

    Complaints

    Bank Name Product Issue 2021 CPFB Complaints % of Total Issues
    Financial Freedom Mortgage, LLC Conventional home mortgage Applying for a mortgage or refinancing an existing mortgage 2 40.0%
    Financial Freedom Mortgage, LLC FHA mortgage Applying for a mortgage or refinancing an existing mortgage 1 20.0%
    Financial Freedom Mortgage, LLC Home equity loan or line of credit (HELOC) Applying for a mortgage or refinancing an existing mortgage 1 20.0%
    Financial Freedom Mortgage, LLC Other type of mortgage Applying for a mortgage or refinancing an existing mortgage 1 20.0%