Foothill Federal Credit Union Mortgage Rates, Fees & Info

Arcadia, CA

LEI: 549300HNJRM4GVCEUP46

Tax ID: 95-2131131

5 stars - out of 5 stars, based on 22 reviews

2021 Data | 2020 Data | 2019 Data | 2018 Data


Overview

Foothill Federal Credit Union is a smaller credit union specializing in Cash Out Refi and Refi loans. Foothill Federal Credit Union has a high proportion of conventional loans. Their top markets include Los Angeles, Riverside, Oxnard, San Jose, and Santa Maria among others. Foothill Federal Credit Union has an above average approval rate for mortages when compared nationally. They have a below average pick rate when compared to the same sample of other lendors. Foothill Federal Credit Union is typically a low fee lendor.


Originations

471

Origination Dollar Volume (All Markets)

$167,405,000

Awards

FOOTHILL FEDERAL CREDIT UNION 30 Year Conventional Loans gold FOOTHILL FEDERAL CREDIT UNION 30 Year Conventional Loans gold FOOTHILL FEDERAL CREDIT UNION 30 Year Conventional Loans bronze FOOTHILL FEDERAL CREDIT UNION 30 Year Conventional Loans bronze
Show all (4) awards

Relative Rate

Foothill Federal Credit Union's average 30 year fixed rate mortgage of loans were 2.99%.

The 2021 average 30 year fixed rate mortgage across all markets of loans were 3.15%.

This yields a difference of -0.16%.

Relative Fees

Foothill Federal Credit Union's average total fees for a 30 year fixed rate mortgage are $2,752.

The average total origination fees for 30 year fixed rate mortgages (for all loan values, including both points & up-front fees in addition to origination fees) are $4,750.

Top Markets

Market Originations Total Value Average Loan Average Fees Average Rate
Los Angeles-Long Beach-Anaheim, CA (FHA|USDA|VA) 368 $134,590,000 $365,734 $2,558 2.82%
RIVERSIDE-SAN BERNARDINO-ONTARIO, CA (FHA|USDA|VA) 92 $27,000,000 $293,478 $2,522 2.98%
OXNARD-THOUSAND OAKS-VENTURA, CA (FHA|USDA|VA) 1 $1,465,000 $1,465,000 $3,458 3.25%
SAN JOSE-SUNNYVALE-SANTA CLARA, CA (FHA|USDA|VA) 1 $1,025,000 $1,025,000 $4,741 3.00%
SANTA MARIA-SANTA BARBARA, CA (FHA|USDA|VA) 1 $725,000 $725,000 $2,168 3.13%
SAN LUIS OBISPO-PASO ROBLES, CA (FHA|USDA|VA) 1 $545,000 $545,000 $4,078 3.00%
SAN DIEGO-CHULA VISTA-CARLSBAD, CA (FHA|USDA|VA) 1 $525,000 $525,000 $2,408 2.38%
REDDING, CA (FHA|USDA|VA) 2 $500,000 $250,000 $3,143 3.25%
SANTA CRUZ-WATSONVILLE, CA (FHA|USDA|VA) 1 $405,000 $405,000 $2,623 2.38%
Outside of Metro Areas 1 $295,000 $295,000 $3,806 2.75%
Clearlake, CA (FHA|USDA|VA) 1 $185,000 $185,000 $2,992 2.88%
SALINAS, CA (FHA|USDA|VA) 1 $145,000 $145,000 $1,853 2.50%

Foothill Federal Credit Union's top markets include Los Angeles, Riverside, Oxnard, San Jose, and Santa Maria among others.

Product Mix

Loan Type Originations Total Value Average Loan Average Fees Average Rate
Conventional 471 $167,405,000 $355,425 $2,565 2.86%

For the 2021 period, Foothill Federal Credit Union's most frequently originated loan type of loans were Conventional, with 471 originations.

Loan Reason

Loan Reason Originations Total Value Average Loan Average Fees Average Rate
Cash Out Refi 238 $88,880,000 $373,445 $2,525 2.86%
Refi 194 $63,190,000 $325,722 $2,347 2.70%
Home Purchase 29 $14,695,000 $506,724 $4,855 3.06%
Home Improvement 10 $640,000 $64,000 $709 5.23%

For the 2021, Foothill Federal Credit Union's most frequently cited loan purpose of loans were Cash Out Refi, with 238 originations. The 2nd most popular reason of loans were Refi, with 194 originations.

Loan Duration/Length

Loan Length Originations Total Value Average Loan Average Fees Average Rate
30 Year 301 $123,525,000 $410,382 $2,752 2.99%
15 Year 85 $21,325,000 $250,882 $2,137 2.68%
10 Year 49 $10,205,000 $208,265 $2,300 2.31%
20 Year 36 $12,350,000 $343,056 $2,349 2.86%

For the 2021, Foothill Federal Credit Union's most frequently cited loan length of loans were 30 Year, with 301 originations. The 2nd most popular length of loans were 15 Year, with 85 originations.

Origination Fees

Origination Fee Originations Total Value Average Loan
$<1k 386 $140,680,000 $364,456
$1k-2k 49 $16,345,000 $333,571
$2k-3k 14 $4,680,000 $334,286
$3k-4k 4 $1,440,000 $360,000
$5k+ 4 $1,910,000 $477,500

$2,752 of loans were Foothill Federal Credit Union's average total fees, while their most frequently occuring range of origination fees were in the $<1k bucket, with 386 originations.

Interest Rates

Loan Rate Originations Total Value Average Loan
2.5-3% 226 $81,790,000 $361,903
<2.5% 128 $38,600,000 $301,563
3-4% 107 $46,375,000 $433,411
5-6% 7 $335,000 $47,857
4-5% 3 $305,000 $101,667

During 2021, Foothill Federal Credit Union's average interest rate of loans were 2.99%, while their most frequently originated rate bucket of loans were 2.5-3%, with 226 originations.

Loan Sizing

Loan Size Originations Total Value Average Loan Average Fees Average Rate
$200k-400k 225 $68,825,000 $305,889 $2,450 2.81%
$400k-600k 117 $54,795,000 $468,333 $2,869 2.93%
$100k-200k 74 $10,770,000 $145,541 $2,221 2.62%
$600k-1MM 30 $22,420,000 $747,333 $3,310 2.95%
$100,000 or less 17 $985,000 $57,941 $1,569 3.73%
$1MM+ 8 $9,610,000 $1,201,250 $3,668 2.92%

2021 saw Foothill Federal Credit Union place emphasis on $200k-400k loans with 225 originations, totaling $68,825,000 in origination value.

Applicant Income

Applicant Income Originations Total Value Average Loan Average Fees Average Rate
$100k-150k 149 $55,875,000 $375,000 $2,479 2.83%
$75k-100k 99 $31,155,000 $314,697 $2,560 2.83%
$150k-250k 86 $35,990,000 $418,488 $2,686 2.82%
$50k-75k 70 $18,540,000 $264,857 $2,364 2.97%
$50k or less 38 $6,070,000 $159,737 $2,389 2.97%
$250k+ 29 $19,775,000 $681,897 $3,389 2.79%

Foothill Federal Credit Union lent most frequently to those with incomes in the $100k-150k range, with 149 originations. The second most popular income band? $75k-100k, with 99 originations.

Applicant Debt to Income Ratio

DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
20-30% 125 $44,025,000 $352,200 $2,490 2.77%
30-36% 93 $32,535,000 $349,839 $2,494 2.84%
<20% 50 $14,920,000 $298,400 $2,951 2.69%
40% 22 $7,290,000 $331,364 $1,983 3.65%
45% 20 $8,570,000 $428,500 $2,847 2.99%
44% 19 $7,785,000 $409,737 $2,650 2.85%
39% 16 $5,570,000 $348,125 $2,565 2.84%
37% 16 $5,890,000 $368,125 $2,465 2.69%
36% 16 $4,980,000 $311,250 $2,341 2.77%
43% 14 $5,560,000 $397,143 $2,478 2.96%
41% 13 $7,635,000 $587,308 $2,691 2.89%
48% 12 $4,420,000 $368,333 $3,287 2.93%
42% 10 $3,170,000 $317,000 $3,112 2.94%
49% 10 $3,030,000 $303,000 $2,215 2.90%
50-60% 10 $2,820,000 $282,000 $2,994 3.09%
38% 8 $2,300,000 $287,500 $2,104 2.81%
46% 8 $3,200,000 $400,000 $2,319 2.81%
47% 5 $1,945,000 $389,000 $2,337 2.68%
>60% 3 $1,505,000 $501,667 $2,464 3.00%

Foothill Federal Credit Union lent most frequently to those with DTI ratios of 20-30%, with 125 originations. The next most common DTI ratio? 30-36%, with 93 originations.

Ethnicity Mix

Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
White 383 $135,905,000 $354,843 $2,593 2.85%
Not provided 40 $12,480,000 $312,000 $2,353 3.01%
Asian 27 $9,725,000 $360,185 $2,529 2.66%
Black 9 $3,595,000 $399,444 $2,362 2.93%
Filipino 5 $2,235,000 $447,000 $3,024 2.57%
Asian Indian 1 $1,355,000 $1,355,000 $3,258 2.38%
Other Asian 2 $920,000 $460,000 $2,126 2.94%
American Indian 3 $705,000 $235,000 $1,882 3.52%
Native Hawaiian 1 $485,000 $485,000 $2,423 2.38%

Approval Rates

Total approvals of all applications
95.51%

Foothill Federal 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 origination
84.82%

Foothill Federal Credit Union has a below average pick rate.

Points and Fees

Points Originations Total Value Average Loan
NA 471 $167,405,000 $355,425

Occupancy Type Mix

Dwelling Type Originations Total Value Average Loan
471 $167,405,000 $355,425

LTV Distribution

Loan to Value Originations Total Value Average Loan Average Fees Average Rate
20-40% 125 $34,865,000 $278,920 $2,500 2.67%
40-60% 149 $52,055,000 $349,362 $2,380 2.82%
60-80% 122 $59,770,000 $489,918 $2,718 3.00%
80-100% 30 $15,840,000 $528,000 $3,904 3.03%
Under 20% 44 $4,820,000 $109,545 $2,020 2.91%