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 Home Purchase and Cash Out Refi loans. Ascension Credit Union has a high proportion of conventional loans. Their top (well, only) market is Baton Rouge.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.
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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| 15 Year Conventional Purchase | 7.07% | 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. | ||
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
21Origination Dollar Volume (All Markets)
$1,525,000Top 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) | 21 | $1,525,000 | $72,619 | $3,012 | 4.87% |
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 21 | $1,525,000 | $72,619 | $3,012 | 4.87% |
For 2019, Ascension Credit Union's most frequently originated type of loan was Conventional, with 21 originations.
Loan Reason
| Loan Reason | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Home Purchase | 10 | $870,000 | $87,000 | $3,574 | 4.81% |
| Cash Out Refi | 10 | $610,000 | $61,000 | $2,535 | 4.92% |
| Refi | 1 | $45,000 | $45,000 | $2,171 | 4.98% |
For 2019, Ascension Credit Union's most frequently cited loan purpose was Home Purchase, with 10 originations. The 2nd most popular reason was Cash Out Refi, with 10 originations.
Loan Duration/Length
For 2019, Ascension Credit Union's most frequently cited loan duration was 15 Year, with 12 originations. The 2nd most popular length was Other, with 4 originations.
Origination Fees/Closing Costs
| Origination Fee/Closing Cost | Originations | Total Value | Average Loan |
|---|---|---|---|
| $<1k | 16 | $810,000 | $50,625 |
| $1k-2k | 4 | $520,000 | $130,000 |
| $2k-3k | 1 | $195,000 | $195,000 |
Ascension Credit Union's average total fees were $0, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 16 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 4-5% | 14 | $1,020,000 | $72,857 |
| 5-6% | 7 | $505,000 | $72,143 |
During 2019, Ascension Credit Union's average interest rate for loans was 0.00%, while their most frequently originated rate bucket for loans was 4-5%, with 14 originations.
Loan Sizing
| Loan Size | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| $100,000 or less | 16 | $810,000 | $50,625 | $2,227 | 4.89% |
| $100k-200k | 5 | $715,000 | $143,000 | $5,526 | 4.81% |
2019 saw Ascension Credit Union place emphasis on $100,000 or less loans with 16 originations, totaling $810,000 in origination value.
Applicant Income
Ascension Credit Union lent most frequently to those with incomes in the $50k-75k range, with 7 originations. The second most popular income band? $50k or less, with 7 originations.
Applicant Debt to Income Ratio
Ascension Credit Union lent most frequently to those with DTI ratios of <20%, with 9 originations. The next most common DTI ratio? 20-30%, with 4 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications75.00%
Ascension Credit Union has a below average approval rate.
Pick Rate
Approvals leading to origination85.71%
Ascension Credit Union has an average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 21 | $1,525,000 | $72,619 |