Eureka Homestead Mortgage Rates, Fees & Info

Metairie, LA

LEI: 549300B1HO0P8G3WYQ31

Tax ID: 72-0180310

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
  • 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)

    • Bank Data

  • Branches
  • Income
  • Loan Types
  • Deposit Mix
  • Loan Performance
  • Assets
  • Business Loans

    • Review & Overview

    Eureka Homestead is a smaller mortgage company specializing in Home Purchase, Cash Out Refi, and Refi loans. Eureka Homestead has a high proportion of conventional loans. Their top markets by origination volume include: New Orleans, Gulfport, and Baton Rouge among others. We have data for 3 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Eureka Homestead has an above average approval rate when compared to the average across all lenders. They have a below average pick rate when compared to similar lenders. Eureka Homestead 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
    30 Year Conventional Purchase 6.48% 12/16/24
    30 Year Conventional Refi 6.55% 12/16/24
    30 Year Cash-out Refi 6.61% 12/16/24
    15 Year Conventional Refi 6.03% 12/16/24
    15 Year Cash-out Refi 6.03% 12/16/24
    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.

    Eureka Homestead Mortgage Calculator






    Your Estimates

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

    This is not an official calculator from Eureka Homestead. 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

    103

    Origination Dollar Volume (All Markets)

    $27,695,000

    Employee count

    13

    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
    NEW ORLEANS-METAIRIE, LA (FHA|USDA|VA) 101 $27,375,000 $271,040 $4,001 4.25%
    GULFPORT-BILOXI, MS (FHA|USDA|VA) 1 $175,000 $175,000 $3,165 3.88%
    BATON ROUGE, LA (FHA|USDA|VA) 1 $145,000 $145,000 $3,532 5.38%
    Eureka Homestead's top markets include New Orleans, Gulfport, and Baton Rouge among others.

    Their top states include:
  • Louisiana (FHA|USDA|VA)
  • Mississippi (FHA|USDA|VA)

    • Similar Lenders

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

    First Castle Federal Credit Union
    Similarity Rank: 180
    Eureka Homestead
    Similarity Rank: 201
    JEFFERSON FINANCIAL
    Similarity Rank: 400
    GREATER NEW ORLEANS
    Similarity Rank: 516
    America's Mortgage Resource, Inc.
    Similarity Rank: 612
    Home Bank
    Similarity Rank: 722
    Investar Bank
    Similarity Rank: 994
    La Capitol Federal Credit Union
    Similarity Rank: 1064
    DSLD MORTGAGE, LLC
    Similarity Rank: 1484
    CHEVRON
    Similarity Rank: 1740

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 103 $27,695,000 $268,883 $3,989 4.26%

    For 2019, Eureka Homestead's most frequently originated type of loan was Conventional, with 103 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 45 $11,935,000 $265,222 $4,085 4.28%
    Cash Out Refi 35 $8,425,000 $240,714 $4,025 4.43%
    Refi 22 $7,280,000 $330,909 $3,778 3.83%
    Other 1 $55,000 $55,000 $3,010 6.38%

    For 2019, Eureka Homestead's most frequently cited loan purpose was Home Purchase, with 45 originations. The 2nd most popular reason was Cash Out Refi, with 35 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 85 $22,935,000 $269,824 $3,961 4.29%
    15 Year 15 $4,055,000 $270,333 $3,900 3.98%
    20 Year 2 $370,000 $185,000 $5,896 5.00%
    Other 1 $335,000 $335,000 $3,827 3.99%

    For 2019, Eureka Homestead's most frequently cited loan duration was 30 Year, with 85 originations. The 2nd most popular length was 15 Year, with 15 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $1k-2k 87 $22,475,000 $258,333
    $2k-3k 9 $3,155,000 $350,556
    $5k+ 4 $1,120,000 $280,000
    $3k-4k 2 $570,000 $285,000
    $4k-5k 1 $375,000 $375,000

    Eureka Homestead's average total fees were $3,961, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 87 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    3-4% 52 $13,630,000 $262,115
    4-5% 35 $11,055,000 $315,857
    5-6% 7 $1,295,000 $185,000
    6-7% 6 $930,000 $155,000
    2.5-3% 3 $785,000 $261,667

    During 2019, Eureka Homestead's average interest rate for loans was 4.29%, while their most frequently originated rate bucket for loans was 3-4%, with 52 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 48 $13,140,000 $273,750 $4,086 4.07%
    $100k-200k 27 $4,095,000 $151,667 $3,505 4.57%
    $400k-600k 20 $9,330,000 $466,500 $4,589 4.15%
    $100,000 or less 7 $515,000 $73,571 $3,371 4.57%
    $600k-1MM 1 $615,000 $615,000 $4,695 4.75%

    2019 saw Eureka Homestead place emphasis on $200k-400k loans with 48 originations, totaling $13,140,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $150k-250k 26 $9,180,000 $353,077 $4,773 4.15%
    $100k-150k 22 $6,540,000 $297,273 $4,015 4.13%
    $50k-75k 22 $3,880,000 $176,364 $3,358 4.25%
    $75k-100k 13 $3,095,000 $238,077 $4,087 4.17%
    $250k+ 8 $3,240,000 $405,000 $3,952 4.25%
    $50k or less 6 $600,000 $100,000 $3,309 3.81%

    Eureka Homestead lent most frequently to those with incomes in the $150k-250k range, with 26 originations. The second most popular income band? $100k-150k, with 22 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 30 $8,970,000 $299,000 $4,175 4.01%
    30-36% 26 $6,860,000 $263,846 $3,728 4.13%
    <20% 12 $2,700,000 $225,000 $3,892 3.91%
    47% 4 $1,180,000 $295,000 $3,920 4.25%
    39% 4 $1,730,000 $432,500 $6,125 4.59%
    44% 3 $615,000 $205,000 $3,646 4.08%
    36% 3 $725,000 $241,667 $3,982 4.71%
    42% 3 $635,000 $211,667 $3,290 4.37%
    49% 2 $810,000 $405,000 $4,236 4.38%
    38% 2 $530,000 $265,000 $4,758 4.49%
    40% 2 $490,000 $245,000 $3,260 3.88%
    43% 2 $440,000 $220,000 $5,475 4.56%
    46% 1 $485,000 $485,000 $4,340 3.63%
    41% 1 $145,000 $145,000 $3,108 4.99%
    48% 1 $165,000 $165,000 $3,197 4.63%
    37% 1 $55,000 $55,000 $3,010 6.38%

    Eureka Homestead lent most frequently to those with DTI ratios of 20-30%, with 30 originations. The next most common DTI ratio? 30-36%, with 26 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 95 $26,035,000 $274,053 $4,026 4.14%
    Not applicable 6 $1,160,000 $193,333 $3,321 5.81%
    Black 2 $500,000 $250,000 $4,239 5.00%

    Approval Rates

    Total approvals of all applications
    96.15%

    Eureka Homestead has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.

    Pick Rate

    Approvals leading to origination
    79.61%

    Eureka Homestead has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 103 $27,695,000 $268,883

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Single Family (1-4 Units):Site-Built 103 $27,695,000 $268,883

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 9 $1,655,000 $183,889 $3,330 4.64%
    40-60% 20 $4,890,000 $244,500 $3,676 4.01%
    60-80% 32 $9,080,000 $283,750 $4,379 4.39%
    80-100% 41 $12,015,000 $293,049 $4,005 4.14%
    Under 20% 1 $55,000 $55,000 $3,010 6.38%

    Bank Details

    Branches

    Bank Name Branch Branch Type Deposits (000's)
    Eureka Homestead 1922 Veterans Boulevard Metairie, LA 70005 Full Service B&M $72,733

    For 2019, Eureka Homestead had 1 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $3,894
    Net interest income $1,951
    Total noninterest income $689
    Gross Fiduciary activities income $0
    Service charges on deposit accounts $0
    Trading account gains and fees $0
    Additional Noninterest Income $689
    Pre-tax net operating income $293
    Securities gains (or losses, -) $7
    Income before extraordinary items $45
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $45
    Minority interest net income $0
    Net income $45
    Sale, conversion, retirement of capital stock, net $6,558
    Net operating income $39

    Eureka Homestead's gross interest income from loans was $3,894,000.
    Eureka Homestead's net interest income from loans was $1,951,000.
    Eureka Homestead's fee based income from loans was $0.
    Eureka Homestead's net income from loans was $45,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $1,943
    Provision for credit losses $-9
    Total noninterest expense $2,356
    Salaries and employee benefits $1,440
    Premises and equipment expense $269
    Additional noninterest expense $647
    Applicable income taxes $255
    Net charge-offs $-9
    Cash dividends $0

    Eureka Homestead's interest expense for loans was $1,943,000.
    Eureka Homestead's payroll and benefits expense were $1,440,000.
    Eureka Homestead's property, plant and equipment expenses $269,000.

    Loan Performance

    Type of Loan % of Loans Noncurrent (30+ days, end of period snapshot)
    All loans 0.0%
    Real Estate loans 0.0%
    Construction & Land Development loans 0.0%
    Nonfarm, nonresidential loans 0.0%
    Multifamily residential loans 0.0%
    1-4 family residential loans 0.0%
    HELOC loans 0.0%
    All other family 0.0%
    Commercial & industrial loans 0.0%
    Personal loans 0.0%
    Credit card loans 0.0%
    Other individual loans 0.0%
    Auto loans 0.0%
    Other consumer loans 0.0%
    Unsecured commercial real estate loans 0.0%

    Deposits

    Type Value (in 000's)
    Total deposits $64,861
    Deposits held in domestic offices $64,861
    Deposits by Individuals, partnerships, and corporations $31,549
    Deposits by U.S. Government $0
    Deposits by States and political subdivisions in the U.S. $8,303
    Deposits by Commercial banks and other depository institutions in U.S. $25,009
    Deposits by Banks in foreign countries $0
    Deposits by Foreign governments and official institutions $0
    Transaction accounts $0
    Demand deposits $0
    Nontransaction accounts $64,861
    Money market deposit accounts (MMDAs) $106
    Other savings deposits (excluding MMDAs) $8,083
    Total time deposits $56,672
    Total time and savings deposits $64,861
    Noninterest-bearing deposits $6,816
    Interest-bearing deposits $58,045
    Retail deposits $61,476
    IRAs and Keogh plan accounts $2,301
    Brokered deposits $1,298
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $106,015
    Cash & Balances due from depository institutions $13,616
    Interest-bearing balances $13,357
    Total securities $5,301
    Federal funds sold & reverse repurchase $0
    Net loans and leases $80,422
    Loan and leases loss allowance $850
    Trading account assets $0
    Bank premises and fixed assets $704
    Other real estate owned $0
    Goodwill and other intangibles $0
    All other assets $5,972

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $106,015
    Total Liabilities $87,095
    Total deposits $64,861
    Interest-bearing deposits $58,045
    Deposits held in domestic offices $64,861
    % insured (estimated) $91
    Federal funds purchased and repurchase agreements $0
    Trading liabilities $0
    Other borrowed funds $21,581
    Subordinated debt $0
    All other liabilities $653

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $80,422
    Loan and leases loss allowance $850
    Total loans and leases (domestic) $81,272
    All real estate loans $81,063
    Real estate loans in domestic offices $81,063
    Construction and development loans $2,049
    Residential 1-4 family construction $1,869
    Other construction, all land development and other land $180
    Loans secured by nonfarm nonresidential properties $1,128
    Nonfarm nonresidential secured by owner-occupied properties $0
    Commercial real estate & other non-farm, non-residential $1,128
    Multifamily residential real estate $3,621
    1-4 family residential loans $74,265
    Farmland loans $0
    Loans held in foreign offices $0
    Farm loans $0
    Commercial and industrial loans $0
    To non-U.S. addressees $0
    Loans to individuals $209
    Credit card loans $0
    Related Plans $0
    Consumer Auto Loans $0
    Other loans to individuals $209
    All other loans & leases $0
    Loans to foreign governments and official institutions $0
    Other loans $0
    Loans to depository institutions and acceptances of other banks $0
    Loans not secured by real estate $0
    Loans secured by real estate to non-U.S. addressees $0
    Restructured Loans & leases $0
    Non 1-4 family restructured loans & leases $0
    Total loans and leases (foreign) $0

    Eureka Homestead had $80,422,000 of loans outstanding in 2019. $81,063,000 of loans were in real estate loans. $2,049,000 of loans were in development loans. $3,621,000 of loans were in multifamily mortgage loans. $74,265,000 of loans were in 1-4 family mortgage loans. $0 of loans were in farm loans. $0 of loans were in credit card loans. $0 of loans were in the auto loan category.

    Small Business Loans

    Categorization # of Loans in Category $ amount of loans (in 000's) Average $/loan
    Nonfarm, nonresidential loans - <$1MM 3 $1,128 $376,000
    Nonfarm, nonresidential loans - $250k-1MM 3 $1,128 $376,000