Bossier Federal Credit Union Mortgage Rates, Fees & Info

Bossier City, LA

LEI: 549300C5503CI7DSIP33

Tax ID: 72-0474816

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)

    • Review & Overview

    Bossier Federal Credit Union is a smaller credit union specializing in Cash Out Refi, Refi, and Home Purchase loans. Bossier Federal Credit Union has a high proportion of conventional loans. Their top two markets are Shreveport and Minden .

    Bossier Federal Credit Union 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. Bossier Federal 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
    30 Year Conventional Purchase 5.79% 4/28/24
    30 Year Conventional Refi 5.43% 4/28/24
    30 Year Cash-out Refi 5.54% 4/28/24
    15 Year Conventional Purchase 5.37% 4/28/24
    15 Year Conventional Refi 5.29% 4/28/24
    15 Year Cash-out Refi 5.29% 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.

    Bossier Federal Credit Union Mortgage Calculator






    Your Estimates

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

    This is not an official calculator from Bossier Federal 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

    48

    Origination Dollar Volume (All Markets)

    $8,390,000

    Awards

    Bossier Federal Credit Union 30 Year Conventional Loans gold Bossier Federal Credit Union 30 Year Conventional Loans gold
    Show all (2) 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
    SHREVEPORT-BOSSIER CITY, LA (FHA|USDA|VA) 44 $7,740,000 $175,909 $4,438 2.59%
    Minden, LA (FHA|USDA|VA) 3 $455,000 $151,667 $4,786 2.42%
    Outside of Metro Areas 1 $195,000 $195,000 $5,335 3.75%
    Bossier Federal Credit Union's top markets include Shreveport and Minden among others.

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

    • Similar Lenders

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

    PIERREMONT MORTGAGE, INC.
    Similarity Rank: 76
    Bossier Federal Credit Union
    Similarity Rank: 78
    DSLD MORTGAGE, LLC
    Similarity Rank: 1280
    BARKSDALE
    Similarity Rank: 1386
    FBT Mortgage, L.L.C.
    Similarity Rank: 1833
    Red River Bank
    Similarity Rank: 2484
    Home Federal Bank
    Similarity Rank: 2548
    SENTE MORTGAGE, INC.
    Similarity Rank: 2805
    STANDARD MORTGAGE CORPORATION
    Similarity Rank: 5561
    GMFS LLC
    Similarity Rank: 6105

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 48 $8,390,000 $174,792 $4,479 2.61%

    For 2020, Bossier Federal Credit Union's most frequently originated type of loan was Conventional, with 48 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Cash Out Refi 21 $3,415,000 $162,619 $4,855 2.59%
    Refi 17 $3,215,000 $189,118 $5,012 2.54%
    Home Purchase 10 $1,760,000 $176,000 $2,782 2.75%

    For 2020, Bossier Federal Credit Union's most frequently cited loan purpose was Cash Out Refi, with 21 originations. The 2nd most popular reason was Refi, with 17 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 24 $4,390,000 $182,917 $4,126 2.79%
    15 Year 12 $1,920,000 $160,000 $4,750 2.34%
    20 Year 8 $1,680,000 $210,000 $5,305 2.58%
    10 Year 3 $215,000 $71,667 $3,760 2.38%
    Other 1 $185,000 $185,000 $5,241 2.38%

    For 2020, Bossier Federal Credit Union's most frequently cited loan duration was 30 Year, with 24 originations. The 2nd most popular length was 15 Year, with 12 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $2k-3k 17 $1,975,000 $116,176
    $3k-4k 17 $3,675,000 $216,176
    $<1k 6 $1,160,000 $193,333
    $1k-2k 4 $260,000 $65,000
    $4k-5k 3 $955,000 $318,333
    $5k+ 1 $365,000 $365,000

    Bossier Federal Credit Union's average total fees were $4,126, while their most frequently occuring range of origination fees (closing costs) were in the $2k-3k bucket, with 17 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    <2.5% 24 $4,150,000 $172,917
    2.5-3% 20 $3,520,000 $176,000
    3-4% 3 $615,000 $205,000
    4-5% 1 $105,000 $105,000

    During 2020, Bossier Federal Credit Union's average interest rate for loans was 2.79%, while their most frequently originated rate bucket for loans was <2.5%, with 24 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100k-200k 20 $3,000,000 $150,000 $4,434 2.65%
    $200k-400k 18 $4,630,000 $257,222 $4,979 2.59%
    $100,000 or less 10 $760,000 $76,000 $3,669 2.55%

    2020 saw Bossier Federal Credit Union place emphasis on $100k-200k loans with 20 originations, totaling $3,000,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 19 $4,415,000 $232,368 $4,992 2.59%
    $75k-100k 12 $1,820,000 $151,667 $4,410 2.47%
    $50k or less 9 $985,000 $109,444 $4,137 2.82%
    $50k-75k 8 $1,170,000 $146,250 $3,748 2.63%

    Bossier Federal Credit Union lent most frequently to those with incomes in the $100k-150k range, with 19 originations. The second most popular income band? $75k-100k, with 12 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    30-36% 12 $2,400,000 $200,000 $4,368 2.64%
    20-30% 11 $1,485,000 $135,000 $4,487 2.43%
    44% 7 $1,085,000 $155,000 $4,362 2.66%
    <20% 5 $715,000 $143,000 $3,910 2.45%
    46% 3 $655,000 $218,333 $5,537 2.54%
    38% 2 $220,000 $110,000 $3,819 2.81%
    43% 1 $255,000 $255,000 $5,941 2.63%
    48% 1 $265,000 $265,000 $6,224 2.25%
    49% 1 $225,000 $225,000 $5,650 2.00%
    36% 1 $225,000 $225,000 $1,299 2.75%
    37% 1 $195,000 $195,000 $4,921 2.38%
    39% 1 $105,000 $105,000 $2,206 4.13%
    40% 1 $365,000 $365,000 $7,299 2.75%
    41% 1 $195,000 $195,000 $5,335 3.75%

    Bossier Federal Credit Union lent most frequently to those with DTI ratios of 30-36%, with 12 originations. The next most common DTI ratio? 20-30%, with 11 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 37 $6,885,000 $186,081 $4,689 2.57%
    Black 8 $920,000 $115,000 $3,853 2.61%
    Not provided 2 $390,000 $195,000 $2,659 2.63%
    American Indian 1 $195,000 $195,000 $5,335 3.75%

    Approval Rates

    Total approvals of all applications
    100.00%

    Bossier Federal Credit Union 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
    81.25%

    Bossier Federal Credit Union has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 48 $8,390,000 $174,792

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Single Family (1-4 Units):Site-Built 48 $8,390,000 $174,792

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 2 $180,000 $90,000 $3,748 2.75%
    40-60% 3 $245,000 $81,667 $3,762 2.21%
    60-80% 23 $4,165,000 $181,087 $5,021 2.65%
    80-100% 20 $3,800,000 $190,000 $4,036 2.61%