Latino Community Credit Union Mortgage Rates, Fees & Info

Durham, NC

LEI: 549300GOPH3KDGIKIU33

Tax ID: 56-2180770

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

    Latino Community Credit Union is a smaller credit union specializing in Home Purchase loans. Latino Community Credit Union has a high proportion of conventional loans. Their top markets by origination volume include: Charlotte, Raleigh, Durham, Greensboro, and Winston among others. We have data for 22 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Latino Community 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. Latino Community 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 relatively high 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 7.64% 4/21/24
    30 Year Conventional Refi 7.86% 4/21/24
    15 Year Conventional Purchase 7.40% 4/21/24
    15 Year Conventional Refi 7.27% 4/21/24
    15 Year Cash-out Refi 7.27% 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.

    Latino Community Credit Union Mortgage Calculator






    Your Estimates

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

    This is not an official calculator from Latino Community 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

    445

    Origination Dollar Volume (All Markets)

    $51,765,000

    Awards

    LATINO COMMUNITY CREDIT UNION 30 Year Conventional Loans gold LATINO COMMUNITY CREDIT UNION 30 Year Conventional Loans silver
    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
    CHARLOTTE-CONCORD-GASTONIA, NC-SC (FHA|USDA|VA) 145 $18,785,000 $129,552 $3,144 5.92%
    RALEIGH-CARY, NC (FHA|USDA|VA) 55 $7,355,000 $133,727 $3,058 5.87%
    DURHAM-CHAPEL HILL, NC (FHA|USDA|VA) 58 $7,210,000 $124,310 $2,985 5.88%
    GREENSBORO-HIGH POINT, NC (FHA|USDA|VA) 60 $6,210,000 $103,500 $2,611 5.78%
    WINSTON-SALEM, NC (FHA|USDA|VA) 57 $5,425,000 $95,175 $2,474 5.91%
    BURLINGTON, NC (FHA|USDA|VA) 23 $2,595,000 $112,826 $2,743 5.91%
    FAYETTEVILLE, NC (FHA|USDA|VA) 14 $1,210,000 $86,429 $2,536 5.84%
    HICKORY-LENOIR-MORGANTON, NC (FHA|USDA|VA) 9 $805,000 $89,444 $2,694 6.33%
    Sanford, NC (FHA|USDA|VA) 4 $430,000 $107,500 $3,002 6.13%
    Outside of Metro Areas 5 $375,000 $75,000 $2,396 5.85%
    Albemarle, NC (FHA|USDA|VA) 2 $250,000 $125,000 $2,810 5.88%
    Kill Devil Hills, NC (FHA|USDA|VA) 1 $165,000 $165,000 $3,091 5.50%
    MYRTLE BEACH-CONWAY-NORTH MYRTLE BEACH, SC-NC (FHA|USDA|VA) 1 $165,000 $165,000 $0 6.00%
    GOLDSBORO, NC (FHA|USDA|VA) 2 $120,000 $60,000 $2,189 5.88%
    Mount Airy, NC (FHA|USDA|VA) 1 $115,000 $115,000 $2,843 5.50%
    Lumberton, NC (FHA|USDA|VA) 2 $110,000 $55,000 $2,230 5.38%
    WILMINGTON, NC (FHA|USDA|VA) 1 $95,000 $95,000 $2,173 5.50%
    Wilson, NC (FHA|USDA|VA) 1 $95,000 $95,000 $2,450 6.75%
    NEW BERN, NC (FHA|USDA|VA) 1 $85,000 $85,000 $2,358 6.00%
    Marion, NC (FHA|USDA|VA) 1 $75,000 $75,000 $2,328 5.25%
    Pinehurst-Southern Pines, NC (FHA|USDA|VA) 1 $45,000 $45,000 $1,990 6.00%
    ROCKY MOUNT, NC (FHA|USDA|VA) 1 $45,000 $45,000 $1,996 6.00%
    Latino Community Credit Union's top markets include Charlotte, Raleigh, Durham, Greensboro, and Winston among others.

    Their top states include:
  • North Carolina (FHA|USDA|VA)

    • Similar Lenders

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

    Whitley Mortgage Associates, Inc.
    Similarity Rank: 258
    Belmont Savings Bank, SSB
    Similarity Rank: 390
    Roxboro Savings Bank SSB
    Similarity Rank: 567
    NewDominion Bank
    Similarity Rank: 602
    PROPONENT Federal Credit Union
    Similarity Rank: 645
    HOMESERVICES LENDING, LLC
    Similarity Rank: 884
    CREDIT UNION MORTGAGE ASSOCIATION, INC.
    Similarity Rank: 1343
    FOUNDERS FEDERAL CREDIT UNION
    Similarity Rank: 1419
    First Federal Bank
    Similarity Rank: 1734
    Amerisouth Mortgage Company
    Similarity Rank: 1794

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 445 $51,765,000 $116,326 $2,874 5.89%

    For 2018, Latino Community Credit Union's most frequently originated type of loan was Conventional, with 445 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 421 $49,805,000 $118,302 $2,906 5.91%
    Refi 20 $1,710,000 $85,500 $2,346 5.59%
    Other 4 $250,000 $62,500 $2,217 5.50%

    For 2018, Latino Community Credit Union's most frequently cited loan purpose was Home Purchase, with 421 originations. The 2nd most popular reason was Refi, with 20 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 323 $40,715,000 $126,053 $2,985 5.79%
    15 Year 58 $4,600,000 $79,310 $2,443 6.01%
    20 Year 57 $6,035,000 $105,877 $2,843 6.41%
    10 Year 7 $415,000 $59,286 $1,964 5.57%

    For 2018, Latino Community Credit Union's most frequently cited loan duration was 30 Year, with 323 originations. The 2nd most popular length was 15 Year, with 58 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $1k-2k 208 $29,480,000 $141,731
    $<1k 192 $15,050,000 $78,385
    $2k-3k 14 $3,440,000 $245,714
    $3k-4k 2 $700,000 $350,000
    $4k-5k 1 $445,000 $445,000

    Latino Community Credit Union's average total fees were $2,985, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 208 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    5-6% 384 $45,550,000 $118,620
    6-7% 60 $6,060,000 $101,000
    7-8% 1 $155,000 $155,000

    During 2018, Latino Community Credit Union's average interest rate for loans was 5.79%, while their most frequently originated rate bucket for loans was 5-6%, with 384 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100k-200k 235 $32,365,000 $137,723 $3,158 5.91%
    $100,000 or less 189 $13,945,000 $73,783 $2,333 5.88%
    $200k-400k 20 $5,010,000 $250,500 $4,237 5.86%
    $400k-600k 1 $445,000 $445,000 $6,754 5.50%

    2018 saw Latino Community Credit Union place emphasis on $100k-200k loans with 235 originations, totaling $32,365,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k or less 284 $28,910,000 $101,796 $2,711 5.87%
    $50k-75k 120 $15,360,000 $128,000 $3,017 5.96%
    $75k-100k 27 $4,665,000 $172,778 $3,485 5.80%
    $100k-150k 10 $1,910,000 $191,000 $3,851 5.90%
    $150k-250k 3 $475,000 $158,333 $4,453 5.92%
    $250k+ 1 $445,000 $445,000 $6,754 5.50%

    Latino Community Credit Union lent most frequently to those with incomes in the $50k or less range, with 284 originations. The second most popular income band? $50k-75k, with 120 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 155 $16,215,000 $104,613 $2,736 5.95%
    30-36% 124 $14,990,000 $120,887 $2,959 5.92%
    <20% 48 $4,930,000 $102,708 $2,602 5.83%
    36% 20 $2,250,000 $112,500 $2,942 5.96%
    37% 18 $2,310,000 $128,333 $2,946 5.74%
    38% 18 $2,300,000 $127,778 $3,086 5.74%
    40% 17 $2,835,000 $166,765 $3,596 5.85%
    41% 16 $2,260,000 $141,250 $3,313 5.86%
    39% 14 $1,800,000 $128,571 $3,069 5.88%
    42% 12 $1,540,000 $128,333 $2,801 5.71%
    43% 2 $270,000 $135,000 $3,059 5.50%
    46% 1 $65,000 $65,000 $0 5.75%

    Latino Community Credit Union lent most frequently to those with DTI ratios of 20-30%, with 155 originations. The next most common DTI ratio? 30-36%, with 124 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 445 $51,765,000 $116,326 $2,874 5.89%

    Approval Rates

    Total approvals of all applications
    94.92%

    Latino Community Credit Union has an average approval rate.

    Pick Rate

    Approvals leading to origination
    82.92%

    Latino Community Credit Union has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 445 $51,765,000 $116,326

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Single Family (1-4 Units):Manufactured 36 $2,830,000 $78,611
    Single Family (1-4 Units):Site-Built 409 $48,935,000 $119,645

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 5 $275,000 $55,000 $2,149 5.50%
    40-60% 23 $1,965,000 $85,435 $2,321 5.55%
    60-80% 105 $12,105,000 $115,286 $2,824 5.63%
    80-100% 312 $37,420,000 $119,936 $2,937 6.01%