Ascension Credit Union Mortgage Rates, Fees & Info
Gonzales, LALEI: 549300HLF6R48Z1V4F56
Tax ID: 72-0828054
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Mortgage Data
Review & Overview
Ascension Credit Union is a smaller credit union specializing in Cash Out Refi and Home Purchase loans. Ascension Credit Union has a high proportion of conventional loans. Their top two markets are Baton Rouge and New Orleans .Ascension 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. Ascension 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 |
|---|---|---|
| 15 Year Conventional Purchase | 7.07% | 5/5/24 |
| 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. | ||
Ascension 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
29Origination Dollar Volume (All Markets)
$2,825,000Top 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 |
|---|---|---|---|---|---|
| BATON ROUGE, LA (FHA|USDA|VA) | 28 | $2,790,000 | $99,643 | $2,090 | 5.36% |
| NEW ORLEANS-METAIRIE, LA (FHA|USDA|VA) | 1 | $35,000 | $35,000 | $1,984 | 4.84% |
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 29 | $2,825,000 | $97,414 | $2,086 | 5.34% |
For 2018, Ascension Credit Union's most frequently originated type of loan was Conventional, with 29 originations.
Loan Reason
| Loan Reason | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Cash Out Refi | 21 | $1,985,000 | $94,524 | $2,252 | 5.35% |
| Home Purchase | 8 | $840,000 | $105,000 | $1,454 | 5.31% |
For 2018, Ascension Credit Union's most frequently cited loan purpose was Cash Out Refi, with 21 originations. The 2nd most popular reason was Home Purchase, with 8 originations.
Loan Duration/Length
For 2018, Ascension Credit Union's most frequently cited loan duration was 15 Year, with 14 originations. The 2nd most popular length was Other, with 11 originations.
Origination Fees/Closing Costs
| Origination Fee/Closing Cost | Originations | Total Value | Average Loan |
|---|---|---|---|
| $<1k | 22 | $1,860,000 | $84,545 |
| $1k-2k | 7 | $965,000 | $137,857 |
Ascension Credit Union's average total fees were $2,005, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 22 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 5-6% | 22 | $2,100,000 | $95,455 |
| 4-5% | 7 | $725,000 | $103,571 |
During 2018, Ascension Credit Union's average interest rate for loans was 5.37%, while their most frequently originated rate bucket for loans was 5-6%, with 22 originations.
Loan Sizing
2018 saw Ascension Credit Union place emphasis on $100,000 or less loans with 18 originations, totaling $1,090,000 in origination value.
Applicant Income
Ascension Credit Union lent most frequently to those with incomes in the $50k-75k range, with 11 originations. The second most popular income band? $50k or less, with 11 originations.
Applicant Debt to Income Ratio
Ascension Credit Union lent most frequently to those with DTI ratios of 20-30%, with 7 originations. The next most common DTI ratio? <20%, with 5 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications83.33%
Ascension Credit Union has a below average approval rate.
Pick Rate
Approvals leading to origination79.31%
Ascension Credit Union has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| 1202.62 | 1 | $165,000 | $165,000 |
| 350.0 | 1 | $365,000 | $365,000 |
| 4559.55 | 1 | $75,000 | $75,000 |
| 5347.6 | 1 | $75,000 | $75,000 |
| NA | 25 | $2,145,000 | $85,800 |