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 Lafayette .Ascension Credit Union has an above average approval rate when compared to the average across all 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
25Origination Dollar Volume (All Markets)
$3,145,000Top 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) | 24 | $3,020,000 | $125,833 | $3,342 | 5.46% |
| LAFAYETTE, LA (FHA|USDA|VA) | 1 | $125,000 | $125,000 | $3,839 | 3.62% |
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 25 | $3,145,000 | $125,800 | $3,363 | 5.39% |
For 2022, Ascension Credit Union's most frequently originated type of loan was Conventional, with 25 originations.
Loan Reason
| Loan Reason | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Cash Out Refi | 17 | $2,215,000 | $130,294 | $3,153 | 5.54% |
| Home Purchase | 8 | $930,000 | $116,250 | $3,783 | 5.07% |
For 2022, Ascension Credit Union's most frequently cited loan purpose was Cash Out Refi, with 17 originations. The 2nd most popular reason was Home Purchase, with 8 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| 15 Year | 22 | $2,640,000 | $120,000 | $3,391 | 5.38% |
| Other | 2 | $280,000 | $140,000 | $754 | 5.22% |
| 20 Year | 1 | $225,000 | $225,000 | $5,358 | 5.83% |
For 2022, Ascension Credit Union's most frequently cited loan duration was 15 Year, with 22 originations. The 2nd most popular length was Other, with 2 originations.
Origination Fees/Closing Costs
| Origination Fee/Closing Cost | Originations | Total Value | Average Loan |
|---|---|---|---|
| $<1k | 12 | $960,000 | $80,000 |
| $1k-2k | 8 | $1,040,000 | $130,000 |
| $2k-3k | 4 | $900,000 | $225,000 |
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 12 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 5-6% | 7 | $985,000 | $140,714 |
| 6-7% | 7 | $935,000 | $133,571 |
| 3-4% | 5 | $485,000 | $97,000 |
| 4-5% | 5 | $605,000 | $121,000 |
| 7-8% | 1 | $135,000 | $135,000 |
During 2022, Ascension Credit Union's average interest rate for loans was 0.00%, while their most frequently originated rate bucket for loans was 5-6%, with 7 originations.
Loan Sizing
2022 saw Ascension Credit Union place emphasis on $100k-200k loans with 11 originations, totaling $1,435,000 in origination value.
Applicant Income
Ascension Credit Union lent most frequently to those with incomes in the $50k or less range, with 8 originations. The second most popular income band? $75k-100k, with 7 originations.
Applicant Debt to Income Ratio
Ascension Credit Union lent most frequently to those with DTI ratios of 20-30%, with 8 originations. The next most common DTI ratio? <20%, with 6 originations.
Ethnicity Mix
| Applicant Ethnicity | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| White | 21 | $2,535,000 | $120,714 | $3,207 | 5.36% |
| Black | 4 | $610,000 | $152,500 | $4,140 | 5.56% |
Approval Rates
Total approvals of all applications100.00%
Ascension 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 originationPoints and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 25 | $3,145,000 | $125,800 |