Latino Community Credit Union Mortgage Rates, Fees & Info
Durham, NCLEI: 549300GOPH3KDGIKIU33
Tax ID: 56-2180770
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Mortgage Data
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. Latino Community Credit Union has a low ratio of conventional loans. Their top markets by origination volume include: Charlotte, Raleigh, Durham, Greensboro, and Winston among others. We have data for 32 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.
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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| 30 Year Conventional Purchase | 7.64% | 4/28/24 |
| 30 Year Conventional Refi | 7.86% | 4/28/24 |
| 15 Year Conventional Purchase | 7.40% | 4/28/24 |
| 15 Year Conventional Refi | 7.27% | 4/28/24 |
| 15 Year Cash-out Refi | 7.27% | 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. | ||
Latino Community Credit Union Mortgage Calculator
Your Estimates
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This is not an official calculator from Latino Community Credit Union. It uses our SimulatedRate™
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
750Origination Dollar Volume (All Markets)
$125,150,000Top 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) | 209 | $39,435,000 | $188,684 | $4,127 | 5.89% |
| RALEIGH-CARY, NC (FHA|USDA|VA) | 125 | $22,615,000 | $180,920 | $3,896 | 5.83% |
| DURHAM-CHAPEL HILL, NC (FHA|USDA|VA) | 87 | $15,815,000 | $181,782 | $3,919 | 5.86% |
| GREENSBORO-HIGH POINT, NC (FHA|USDA|VA) | 93 | $12,665,000 | $136,183 | $3,273 | 5.90% |
| WINSTON-SALEM, NC (FHA|USDA|VA) | 57 | $7,965,000 | $139,737 | $3,259 | 5.91% |
| BURLINGTON, NC (FHA|USDA|VA) | 34 | $5,460,000 | $160,588 | $3,619 | 5.86% |
| FAYETTEVILLE, NC (FHA|USDA|VA) | 30 | $4,270,000 | $142,333 | $3,400 | 5.92% |
| Outside of Metro Areas | 19 | $2,325,000 | $122,368 | $3,254 | 5.92% |
| WILMINGTON, NC (FHA|USDA|VA) | 12 | $2,240,000 | $186,667 | $3,740 | 5.83% |
| HICKORY-LENOIR-MORGANTON, NC (FHA|USDA|VA) | 14 | $1,940,000 | $138,571 | $3,490 | 5.80% |
| Henderson, NC (FHA|USDA|VA) | 10 | $1,500,000 | $150,000 | $3,670 | 5.93% |
| ROCKY MOUNT, NC (FHA|USDA|VA) | 10 | $1,290,000 | $129,000 | $3,367 | 5.85% |
| Sanford, NC (FHA|USDA|VA) | 7 | $1,235,000 | $176,429 | $3,745 | 5.79% |
| Albemarle, NC (FHA|USDA|VA) | 6 | $1,070,000 | $178,333 | $4,179 | 5.67% |
| GOLDSBORO, NC (FHA|USDA|VA) | 8 | $800,000 | $100,000 | $2,770 | 5.94% |
| MYRTLE BEACH-CONWAY-NORTH MYRTLE BEACH, SC-NC (FHA|USDA|VA) | 4 | $620,000 | $155,000 | $3,364 | 6.00% |
| Wilson, NC (FHA|USDA|VA) | 4 | $610,000 | $152,500 | $3,496 | 6.19% |
| Kill Devil Hills, NC (FHA|USDA|VA) | 2 | $380,000 | $190,000 | $3,808 | 6.00% |
| Lumberton, NC (FHA|USDA|VA) | 2 | $340,000 | $170,000 | $3,586 | 5.50% |
| VIRGINIA BEACH-NORFOLK-NEWPORT NEWS, VA-NC (FHA|USDA|VA) | 2 | $310,000 | $155,000 | $4,837 | 5.75% |
| Mount Airy, NC (FHA|USDA|VA) | 2 | $270,000 | $135,000 | $3,999 | 6.00% |
| GREENVILLE, NC (FHA|USDA|VA) | 1 | $255,000 | $255,000 | $4,453 | 5.50% |
| FLORENCE, SC (FHA|USDA|VA) | 1 | $245,000 | $245,000 | $4,845 | 6.00% |
| Forest City, NC (FHA|USDA|VA) | 3 | $235,000 | $78,333 | $2,935 | 6.08% |
| ATLANTA-SANDY SPRINGS-ALPHARETTA, GA (FHA|USDA|VA) | 1 | $225,000 | $225,000 | $5,214 | 6.00% |
| Boone, NC (FHA|USDA|VA) | 1 | $215,000 | $215,000 | $4,303 | 6.00% |
| JACKSONVILLE, NC (FHA|USDA|VA) | 1 | $215,000 | $215,000 | $4,384 | 6.00% |
| AUGUSTA-RICHMOND COUNTY, GA-SC (FHA|USDA|VA) | 1 | $205,000 | $205,000 | $4,110 | 6.00% |
| SPARTANBURG, SC (FHA|USDA|VA) | 1 | $155,000 | $155,000 | $3,399 | 6.00% |
| Pinehurst-Southern Pines, NC (FHA|USDA|VA) | 1 | $95,000 | $95,000 | $3,785 | 6.00% |
| Roanoke Rapids, NC (FHA|USDA|VA) | 1 | $75,000 | $75,000 | $2,829 | 6.00% |
| Rockingham, NC (FHA|USDA|VA) | 1 | $75,000 | $75,000 | $2,575 | 6.00% |
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.
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Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 731 | $123,745,000 | $169,282 | $3,755 | 5.88% |
| Conventional | 19 | $1,405,000 | $73,947 | $0 | 0.00% |
For 2021, Latino Community Credit Union's most frequently originated type of loan was Conventional, with 731 originations. Their 2nd most popular type was Conventional, with 19 originations.
Loan Reason
For 2021, Latino Community Credit Union's most frequently cited loan purpose was Home Purchase, with 706 originations. The 2nd most popular reason was Refi, with 23 originations.
Loan Duration/Length
For 2021, Latino Community Credit Union's most frequently cited loan duration was 30 Year, with 612 originations. The 2nd most popular length was 15 Year, with 87 originations.
Origination Fees/Closing Costs
Latino Community Credit Union's average total fees were $3,854, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 424 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 5-6% | 689 | $117,905,000 | $171,125 |
| 6-7% | 40 | $5,490,000 | $137,250 |
| 7-8% | 2 | $350,000 | $175,000 |
During 2021, Latino Community Credit Union's average interest rate for loans was 5.85%, while their most frequently originated rate bucket for loans was 5-6%, with 689 originations.
Loan Sizing
2021 saw Latino Community Credit Union place emphasis on $100k-200k loans with 427 originations, totaling $64,825,000 in origination value.
Applicant Income
Latino Community Credit Union lent most frequently to those with incomes in the $50k or less range, with 352 originations. The second most popular income band? $50k-75k, with 255 originations.
Applicant Debt to Income Ratio
Latino Community Credit Union lent most frequently to those with DTI ratios of 30-36%, with 236 originations. The next most common DTI ratio? 20-30%, with 178 originations.
Ethnicity Mix
| Applicant Ethnicity | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| White | 747 | $124,755,000 | $167,008 | $3,753 | 5.88% |
| Black | 3 | $395,000 | $131,667 | $4,300 | 5.83% |
Approval Rates
Total approvals of all applications96.33%
Latino Community 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 origination82.53%
Latino Community Credit Union has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| Exempt | 19 | $1,405,000 | $73,947 |
| NA | 731 | $123,745,000 | $169,282 |