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 Purchase and Cash Out Refi loans. Financial Partners Credit Union has a high proportion of conventional loans. Their top markets by origination volume include: Los Angeles, Riverside, San Diego, San Francisco, and Oxnard among others. We have data for 36 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 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 |
|---|---|---|
| Home Equity Line of Credit (HELOC) | 6.56% | 4/28/24 |
| 30 Year Conventional Purchase | 6.04% | 4/28/24 |
| 30 Year Conventional Refi | 6.04% | 4/28/24 |
| 30 Year Cash-out Refi | 6.21% | 4/28/24 |
| 15 Year Conventional Purchase | 6.10% | 4/28/24 |
| 15 Year Conventional Refi | 5.82% | 4/28/24 |
| 15 Year Cash-out Refi | 5.82% | 4/28/24 |
| 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
2,035Origination Dollar Volume (All Markets)
$829,135,000Awards
Financial Partners Credit Union - 2022
Financial Partners Credit Union is a 2022 , due to their low .
For 2022, 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) | 1,351 | $569,475,000 | $421,521 | $4,854 | 4.73% |
| RIVERSIDE-SAN BERNARDINO-ONTARIO, CA (FHA|USDA|VA) | 298 | $90,540,000 | $303,826 | $4,833 | 4.89% |
| SAN DIEGO-CHULA VISTA-CARLSBAD, CA (FHA|USDA|VA) | 106 | $52,680,000 | $496,981 | $5,058 | 4.71% |
| San Francisco-Oakland-Berkeley, CA (FHA|USDA|VA) | 93 | $37,555,000 | $403,817 | $5,282 | 4.74% |
| OXNARD-THOUSAND OAKS-VENTURA, CA (FHA|USDA|VA) | 54 | $22,990,000 | $425,741 | $6,263 | 4.55% |
| SAN JOSE-SUNNYVALE-SANTA CLARA, CA (FHA|USDA|VA) | 24 | $14,790,000 | $616,250 | $4,850 | 4.39% |
| LAS VEGAS-HENDERSON-PARADISE, NV (FHA|USDA|VA) | 12 | $7,240,000 | $603,333 | $5,743 | 4.08% |
| BAKERSFIELD, CA (FHA|USDA|VA) | 10 | $5,560,000 | $556,000 | $3,800 | 4.86% |
| STOCKTON, CA (FHA|USDA|VA) | 11 | $5,115,000 | $465,000 | $4,060 | 4.51% |
| SACRAMENTO-ROSEVILLE-FOLSOM, CA (FHA|USDA|VA) | 17 | $3,675,000 | $216,176 | $5,058 | 4.94% |
| PHOENIX-MESA-CHANDLER, AZ (FHA|USDA|VA) | 6 | $2,800,000 | $466,667 | $4,134 | 3.98% |
| SANTA ROSA-PETALUMA, CA (FHA|USDA|VA) | 4 | $2,270,000 | $567,500 | $3,958 | 3.88% |
| SANTA MARIA-SANTA BARBARA, CA (FHA|USDA|VA) | 9 | $2,075,000 | $230,556 | $3,305 | 4.64% |
| Outside of Metro Areas | 2 | $2,060,000 | $1,030,000 | $9,476 | 4.69% |
| FRESNO, CA (FHA|USDA|VA) | 6 | $1,950,000 | $325,000 | $5,513 | 4.85% |
| Sonora, CA (FHA|USDA|VA) | 2 | $850,000 | $425,000 | $8,151 | 5.25% |
| Seattle-Tacoma-Bellevue, WA (FHA|USDA|VA) | 2 | $820,000 | $410,000 | $4,879 | 4.88% |
| NAPA, CA (FHA|USDA|VA) | 1 | $785,000 | $785,000 | $7,107 | 4.13% |
| Truckee-Grass Valley, CA (FHA|USDA|VA) | 1 | $675,000 | $675,000 | $5,256 | 4.00% |
| VALLEJO, CA (FHA|USDA|VA) | 5 | $625,000 | $125,000 | $0 | 5.90% |
| MODESTO, CA (FHA|USDA|VA) | 5 | $615,000 | $123,000 | $0 | 4.75% |
| KENNEWICK-RICHLAND, WA (FHA|USDA|VA) | 1 | $475,000 | $475,000 | $4,394 | 3.75% |
| PALM BAY-MELBOURNE-TITUSVILLE, FL (FHA|USDA|VA) | 1 | $475,000 | $475,000 | $4,728 | 5.88% |
| LAKE HAVASU CITY-KINGMAN, AZ (FHA|USDA|VA) | 1 | $435,000 | $435,000 | $4,309 | 3.38% |
| PORTLAND-VANCOUVER-HILLSBORO, OR-WA (FHA|USDA|VA) | 1 | $385,000 | $385,000 | $8,920 | 4.75% |
| COLORADO SPRINGS, CO (FHA|USDA|VA) | 1 | $365,000 | $365,000 | $6,704 | 4.50% |
| TUCSON, AZ (FHA|USDA|VA) | 1 | $295,000 | $295,000 | $0 | 2.88% |
| PRESCOTT VALLEY-PRESCOTT, AZ (FHA|USDA|VA) | 1 | $265,000 | $265,000 | $4,085 | 3.88% |
| VISALIA, CA (FHA|USDA|VA) | 1 | $255,000 | $255,000 | $3,561 | 3.63% |
| SALINAS, CA (FHA|USDA|VA) | 1 | $215,000 | $215,000 | $3,238 | 4.88% |
| Coos Bay, OR (FHA|USDA|VA) | 1 | $205,000 | $205,000 | $3,383 | 3.75% |
| GRAND RAPIDS-KENTWOOD, MI (FHA|USDA|VA) | 1 | $155,000 | $155,000 | $3,963 | 4.13% |
| CHICO, CA (FHA|USDA|VA) | 1 | $125,000 | $125,000 | $0 | 7.00% |
| SAN LUIS OBISPO-PASO ROBLES, CA (FHA|USDA|VA) | 2 | $120,000 | $60,000 | $0 | 5.25% |
| REDDING, CA (FHA|USDA|VA) | 1 | $115,000 | $115,000 | $0 | 5.50% |
| Detroit-Warren-Dearborn, MI (FHA|USDA|VA) | 1 | $105,000 | $105,000 | $2,989 | 4.25% |
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 | 1,310 | $222,800,000 | $170,076 | n/a | 5.28% |
| Conventional | 725 | $606,335,000 | $836,324 | $4,930 | 3.77% |
For 2022, Financial Partners Credit Union's most frequently originated type of loan was HELOC, with 1,310 originations. Their 2nd most popular type was Conventional, with 725 originations.
Loan Reason
For 2022, Financial Partners Credit Union's most frequently cited loan purpose was Home Improvement, with 846 originations. The 2nd most popular reason was Other, with 390 originations.
Loan Duration/Length
For 2022, Financial Partners Credit Union's most frequently cited loan duration was Other, with 1,310 originations. The 2nd most popular length was 30 Year, with 538 originations.
Origination Fees/Closing Costs
Financial Partners Credit Union's average total fees were $5,280, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 294 originations.
Interest Rates
During 2022, Financial Partners Credit Union's average interest rate for loans was 3.71%, while their most frequently originated rate bucket for loans was 4-5%, with 860 originations.
Loan Sizing
2022 saw Financial Partners Credit Union place emphasis on $200k-400k loans with 684 originations, totaling $176,770,000 in origination value.
Applicant Income
Financial Partners Credit Union lent most frequently to those with incomes in the $150k-250k range, with 594 originations. The second most popular income band? $100k-150k, with 495 originations.
Applicant Debt to Income Ratio
Financial Partners Credit Union lent most frequently to those with DTI ratios of 30-36%, with 297 originations. The next most common DTI ratio? 20-30%, with 276 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications82.68%
Financial Partners Credit Union has a below average approval rate.
Pick Rate
Approvals leading to origination70.76%
Financial Partners Credit Union has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| 0.0 | 1,185 | $201,695,000 | $170,207 |
| 12.0 | 1 | $255,000 | $255,000 |
| NA | 849 | $627,185,000 | $738,734 |
LTV Distribution
Complaints
| Bank Name | Product | Issue | 2022 CPFB Complaints | % of Total Issues |
|---|---|---|---|---|
| Finance of America Holdings LLC | Reverse mortgage | Trouble during payment process | 1 | 100.0% |