Farmers Insurance Group Federal Credit Union Mortgage Rates, Fees & Info

Burbank, CA

LEI: 549300KPHGEE40YQXO21

Tax ID: 95-1661138

5 stars - Updated: 11/30/23 - out of 5 stars, based on 29 reviews

Latest/2022 | 2021 Data | 2020 Data | 2019 Data | 2018 Data

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Mortgage Data

Review & Overview

Farmers Insurance Group Federal Credit Union is a smaller credit union specializing in Home Improvement and Home Purchase loans. Farmers Insurance Group Federal Credit Union has a high proportion of conventional loans. Their top markets by origination volume include: Los Angeles, Riverside, Phoenix, San Diego, and Seattle among others. We have data for 165 markets. (Some data included below & more in-depth data is available with an active subscription.)

Farmers Insurance Group Federal Credit Union has an above average approval rate when compared to the average across all lenders. They have an above average pick rate when compared to similar lenders. Farmers Insurance Group Federal Credit Union is typically an average 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 about average 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.

Mortgage seekers: Choose your metro area here to explore the lowest fee & rate lenders.

Mortgage professionals: We have various tools to make your lives easier. Contact us to see how we can help with your market research, analytics or advertising needs.

SimulatedRates™

Mortgage Type
Simulated Rate Simulation Date
Home Equity Line of Credit (HELOC) 6.27% 11/30/23
30 Year Conventional Purchase 6.32% 11/30/23
30 Year Conventional Refi 6.85% 11/30/23
30 Year Cash-out Refi 6.74% 11/30/23
15 Year Conventional Purchase 5.97% 11/30/23
15 Year Conventional Refi 6.74% 11/30/23
15 Year Cash-out Refi 6.74% 11/30/23
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.

Farmers Insurance Group Federal Credit Union Mortgage Calculator






Your Estimates

Estimated Loan Payment: Update the calculator values and click calculate payment!

This is not an official calculator from Farmers Insurance Group Federal Credit Union. It uses our SimulatedRate™ technology, basic math and reasonable assumptions to calculate mortgage payments derived from our simulations and your inputs.

The default purchase price is the median sales price across the US for 2022Q4, per FRED.


Originations

857

Origination Dollar Volume (All Markets)

$180,865,000

Relative Rate

Farmers Insurance Group Federal Credit Union's average 30 year fixed mortgage rate was 4.83%.

The 2022 average 30 year fixed rate mortgage across all markets and lenders was 4.76%.

This yields a difference of 0.07%.

Relative Fees (Closing Costs)

Farmers Insurance Group Federal Credit Union's average total fees/closing costs for a 30 year fixed rate mortgage were $5,814.

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

Top 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
Los Angeles-Long Beach-Anaheim, CA (FHA|USDA|VA) 100 $33,310,000 $333,100 $4,436 5.09%
RIVERSIDE-SAN BERNARDINO-ONTARIO, CA (FHA|USDA|VA) 54 $13,930,000 $257,963 $4,078 5.80%
PHOENIX-MESA-CHANDLER, AZ (FHA|USDA|VA) 58 $8,740,000 $150,690 $2,174 5.68%
SAN DIEGO-CHULA VISTA-CARLSBAD, CA (FHA|USDA|VA) 33 $7,665,000 $232,273 $2,526 4.84%
Seattle-Tacoma-Bellevue, WA (FHA|USDA|VA) 23 $6,385,000 $277,609 $2,997 5.01%
Dallas-Fort Worth-Arlington, TX (FHA|USDA|VA) 26 $5,210,000 $200,385 $3,043 5.28%
San Francisco-Oakland-Berkeley, CA (FHA|USDA|VA) 15 $4,855,000 $323,667 $6,496 5.51%
OXNARD-THOUSAND OAKS-VENTURA, CA (FHA|USDA|VA) 19 $4,515,000 $237,632 $2,433 5.30%
DENVER-AURORA-LAKEWOOD, CO (FHA|USDA|VA) 22 $4,300,000 $195,455 $7,432 5.51%
New York-Newark-Jersey City, NY-NJ-PA (FHA|USDA|VA) 14 $3,630,000 $259,286 $2,221 6.65%
OKLAHOMA CITY, OK (FHA|USDA|VA) 17 $2,915,000 $171,471 $2,328 5.30%
LAS VEGAS-HENDERSON-PARADISE, NV (FHA|USDA|VA) 18 $2,840,000 $157,778 $2,989 5.68%
ST. LOUIS, MO-IL (FHA|USDA|VA) 15 $2,745,000 $183,000 $2,145 5.95%
MODESTO, CA (FHA|USDA|VA) 10 $2,730,000 $273,000 $6,532 4.87%
KANSAS CITY, MO-KS (FHA|USDA|VA) 25 $2,555,000 $102,200 $1,502 5.49%
SANTA CRUZ-WATSONVILLE, CA (FHA|USDA|VA) 6 $2,380,000 $396,667 $3,049 5.12%
PORTLAND-VANCOUVER-HILLSBORO, OR-WA (FHA|USDA|VA) 12 $2,280,000 $190,000 $3,088 4.78%
Outside of Metro Areas 15 $2,175,000 $145,000 $2,146 6.08%
Philadelphia-Camden-Wilmington, PA-NJ-DE-MD (FHA|USDA|VA) 13 $1,975,000 $151,923 $6,385 5.65%
SACRAMENTO-ROSEVILLE-FOLSOM, CA (FHA|USDA|VA) 14 $1,950,000 $139,286 $1,148 4.58%
MINNEAPOLIS-ST. PAUL-BLOOMINGTON, MN-WI (FHA|USDA|VA) 13 $1,645,000 $126,538 $1,343 4.38%
Chicago-Naperville-Elgin, IL-IN-WI (FHA|USDA|VA) 16 $1,630,000 $101,875 $3,110 6.41%
GRAND RAPIDS-KENTWOOD, MI (FHA|USDA|VA) 17 $1,605,000 $94,412 $1,757 6.20%
HOUSTON-THE WOODLANDS-SUGAR LAND, TX (FHA|USDA|VA) 6 $1,550,000 $258,333 $3,745 4.96%
ROANOKE, VA (FHA|USDA|VA) 4 $1,520,000 $380,000 $3,219 7.00%
SALT LAKE CITY, UT (FHA|USDA|VA) 6 $1,490,000 $248,333 $4,292 4.02%
SAN JOSE-SUNNYVALE-SANTA CLARA, CA (FHA|USDA|VA) 4 $1,400,000 $350,000 $4,147 4.87%
TULSA, OK (FHA|USDA|VA) 6 $1,320,000 $220,000 $7,572 6.50%
YUBA CITY, CA (FHA|USDA|VA) 4 $1,290,000 $322,500 $2,889 6.00%
FORT COLLINS, CO (FHA|USDA|VA) 4 $1,230,000 $307,500 $3,295 5.31%
AUSTIN-ROUND ROCK-GEORGETOWN, TX (FHA|USDA|VA) 5 $1,175,000 $235,000 $4,472 4.85%
CORPUS CHRISTI, TX (FHA|USDA|VA) 2 $1,040,000 $520,000 $6,450 4.06%
SIOUX FALLS, SD (FHA|USDA|VA) 3 $1,015,000 $338,333 $4,730 5.00%
SANTA ROSA-PETALUMA, CA (FHA|USDA|VA) 1 $1,005,000 $1,005,000 $14,850 4.50%
NASHVILLE-DAVIDSON-MURFREESBORO-FRANKLIN, TN (FHA|USDA|VA) 5 $965,000 $193,000 $1,729 6.69%
Detroit-Warren-Dearborn, MI (FHA|USDA|VA) 6 $950,000 $158,333 $1,557 6.17%
FRESNO, CA (FHA|USDA|VA) 8 $930,000 $116,250 $2,055 5.23%
PROVO-OREM, UT (FHA|USDA|VA) 3 $925,000 $308,333 $2,005 4.50%
ATLANTA-SANDY SPRINGS-ALPHARETTA, GA (FHA|USDA|VA) 8 $920,000 $115,000 $0 5.22%
LITTLE ROCK-NORTH LITTLE ROCK-CONWAY, AR (FHA|USDA|VA) 5 $905,000 $181,000 $1,640 6.74%
EL PASO, TX (FHA|USDA|VA) 5 $885,000 $177,000 $4,322 6.10%
VALLEJO, CA (FHA|USDA|VA) 5 $885,000 $177,000 $2,435 6.11%
BEND, OR (FHA|USDA|VA) 1 $855,000 $855,000 $16,230 4.00%
SAN ANTONIO-NEW BRAUNFELS, TX (FHA|USDA|VA) 4 $840,000 $210,000 $3,671 4.91%
SHERMAN-DENISON, TX (FHA|USDA|VA) 1 $805,000 $805,000 $19,106 6.38%
Outside of Metro Areas 2 $760,000 $380,000 $4,258 6.13%
MERCED, CA (FHA|USDA|VA) 6 $750,000 $125,000 $821 4.71%
DELTONA-DAYTONA BEACH-ORMOND BEACH, FL (FHA|USDA|VA) 2 $750,000 $375,000 $5,197 4.50%
INDIANAPOLIS-CARMEL-ANDERSON, IN (FHA|USDA|VA) 3 $735,000 $245,000 $1,739 6.62%
REDDING, CA (FHA|USDA|VA) 3 $725,000 $241,667 $2,543 5.54%
JACKSONVILLE, FL (FHA|USDA|VA) 2 $720,000 $360,000 $5,298 5.00%
RICHMOND, VA (FHA|USDA|VA) 3 $685,000 $228,333 $0 6.50%
Boston-Cambridge-Newton, MA-NH (FHA|USDA|VA) 4 $670,000 $167,500 $0 5.93%
Cookeville, TN (FHA|USDA|VA) 2 $670,000 $335,000 $2,498 7.37%
GREELEY, CO (FHA|USDA|VA) 3 $665,000 $221,667 $4,578 4.99%
SALINAS, CA (FHA|USDA|VA) 2 $660,000 $330,000 $4,580 6.13%
SALISBURY, MD-DE (FHA|USDA|VA) 2 $640,000 $320,000 $3,071 7.87%
Clearlake, CA (FHA|USDA|VA) 2 $640,000 $320,000 $4,449 6.68%
RALEIGH-CARY, NC (FHA|USDA|VA) 2 $640,000 $320,000 $4,380 6.00%
CHATTANOOGA, TN-GA (FHA|USDA|VA) 3 $615,000 $205,000 $2,664 5.58%
CANTON-MASSILLON, OH (FHA|USDA|VA) 3 $575,000 $191,667 $2,944 6.04%
ALBUQUERQUE, NM (FHA|USDA|VA) 6 $570,000 $95,000 $1,700 5.39%
Granbury, TX (FHA|USDA|VA) 1 $565,000 $565,000 $12,529 5.88%
POCATELLO, ID (FHA|USDA|VA) 2 $560,000 $280,000 $4,770 5.38%
KILLEEN-TEMPLE, TX (FHA|USDA|VA) 3 $555,000 $185,000 $4,878 5.13%
VIRGINIA BEACH-NORFOLK-NEWPORT NEWS, VA-NC (FHA|USDA|VA) 3 $555,000 $185,000 $3,260 5.91%
ALLENTOWN-BETHLEHEM-EASTON, PA-NJ (FHA|USDA|VA) 2 $530,000 $265,000 $4,125 7.55%
MEDFORD, OR (FHA|USDA|VA) 1 $515,000 $515,000 $5,762 4.38%
VISALIA, CA (FHA|USDA|VA) 3 $515,000 $171,667 $0 5.58%
SPOKANE-SPOKANE VALLEY, WA (FHA|USDA|VA) 2 $510,000 $255,000 $3,856 6.63%
Payson, AZ (FHA|USDA|VA) 3 $485,000 $161,667 $2,210 7.04%
BAKERSFIELD, CA (FHA|USDA|VA) 3 $475,000 $158,333 $2,289 4.67%
ALBANY-LEBANON, OR (FHA|USDA|VA) 1 $465,000 $465,000 $5,286 5.88%
Sandpoint, ID (FHA|USDA|VA) 1 $455,000 $455,000 $4,510 3.88%
Moses Lake, WA (FHA|USDA|VA) 2 $450,000 $225,000 $3,797 5.94%
PRESCOTT VALLEY-PRESCOTT, AZ (FHA|USDA|VA) 3 $435,000 $145,000 $0 5.67%
Ruidoso, NM (FHA|USDA|VA) 1 $435,000 $435,000 $3,273 4.88%
BOISE CITY, ID (FHA|USDA|VA) 5 $435,000 $87,000 $0 5.64%
LANSING-EAST LANSING, MI (FHA|USDA|VA) 2 $430,000 $215,000 $3,561 4.00%
ST. GEORGE, UT (FHA|USDA|VA) 2 $430,000 $215,000 $2,188 8.49%
Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) 1 $425,000 $425,000 $3,671 5.50%
NAPA, CA (FHA|USDA|VA) 3 $425,000 $141,667 $0 5.49%
WICHITA FALLS, TX (FHA|USDA|VA) 1 $415,000 $415,000 $5,052 4.25%
MADERA, CA (FHA|USDA|VA) 3 $415,000 $138,333 $0 5.41%
RENO, NV (FHA|USDA|VA) 2 $400,000 $200,000 $0 3.25%
Washington-Arlington-Alexandria, DC-VA-MD-WV (FHA|USDA|VA) 3 $395,000 $131,667 $0 4.50%
BROWNSVILLE-HARLINGEN, TX (FHA|USDA|VA) 1 $365,000 $365,000 $3,233 5.25%
Heber, UT (FHA|USDA|VA) 1 $355,000 $355,000 $0 3.75%
Helena, MT (FHA|USDA|VA) 1 $335,000 $335,000 $3,360 3.50%
EL CENTRO, CA (FHA|USDA|VA) 1 $335,000 $335,000 $4,342 5.25%
TUCSON, AZ (FHA|USDA|VA) 2 $330,000 $165,000 $10,042 5.38%
WACO, TX (FHA|USDA|VA) 1 $315,000 $315,000 $7,758 6.38%
CHICO, CA (FHA|USDA|VA) 1 $305,000 $305,000 $0 3.49%
MILWAUKEE-WAUKESHA, WI (FHA|USDA|VA) 1 $305,000 $305,000 $5,804 4.88%
COLORADO SPRINGS, CO (FHA|USDA|VA) 3 $305,000 $101,667 $1,853 4.96%
STOCKTON, CA (FHA|USDA|VA) 5 $305,000 $61,000 $0 5.04%
PROVIDENCE-WARWICK, RI-MA (FHA|USDA|VA) 2 $300,000 $150,000 $0 7.12%
OGDEN-CLEARFIELD, UT (FHA|USDA|VA) 2 $290,000 $145,000 $0 7.74%
BATTLE CREEK, MI (FHA|USDA|VA) 2 $280,000 $140,000 $1,812 8.81%
GLENS FALLS, NY (FHA|USDA|VA) 1 $275,000 $275,000 $7,608 4.75%
Eureka-Arcata, CA (FHA|USDA|VA) 1 $275,000 $275,000 $0 3.25%
JACKSONVILLE, NC (FHA|USDA|VA) 2 $260,000 $130,000 $1,990 8.37%
Alamogordo, NM (FHA|USDA|VA) 2 $250,000 $125,000 $4,044 8.37%
MADISON, WI (FHA|USDA|VA) 2 $250,000 $125,000 $2,589 4.56%
BELLINGHAM, WA (FHA|USDA|VA) 1 $235,000 $235,000 $0 4.99%
Ponca City, OK (FHA|USDA|VA) 2 $230,000 $115,000 $0 5.00%
LAKELAND-WINTER HAVEN, FL (FHA|USDA|VA) 1 $225,000 $225,000 $2,869 6.38%
LAS CRUCES, NM (FHA|USDA|VA) 1 $215,000 $215,000 $4,765 4.38%
Truckee-Grass Valley, CA (FHA|USDA|VA) 2 $210,000 $105,000 $0 4.50%
Edwards, CO (FHA|USDA|VA) 1 $205,000 $205,000 $0 3.25%
Montrose, CO (FHA|USDA|VA) 1 $205,000 $205,000 $0 3.49%
LAKE HAVASU CITY-KINGMAN, AZ (FHA|USDA|VA) 1 $205,000 $205,000 $0 6.50%
Cañon City, CO (FHA|USDA|VA) 1 $205,000 $205,000 $0 10.99%
CHEYENNE, WY (FHA|USDA|VA) 1 $205,000 $205,000 $0 7.75%
FAYETTEVILLE-SPRINGDALE-ROGERS, AR (FHA|USDA|VA) 3 $205,000 $68,333 $0 5.33%
BALTIMORE-COLUMBIA-TOWSON, MD (FHA|USDA|VA) 2 $200,000 $100,000 $0 6.75%
PUEBLO, CO (FHA|USDA|VA) 1 $185,000 $185,000 $0 4.99%
BREMERTON-SILVERDALE-PORT ORCHARD, WA (FHA|USDA|VA) 1 $185,000 $185,000 $3,521 5.25%
LINCOLN, NE (FHA|USDA|VA) 1 $175,000 $175,000 $0 10.99%
MANCHESTER-NASHUA, NH (FHA|USDA|VA) 1 $175,000 $175,000 $0 4.99%
Owatonna, MN (FHA|USDA|VA) 1 $175,000 $175,000 $0 9.75%
CLEVELAND-ELYRIA, OH (FHA|USDA|VA) 2 $160,000 $80,000 $0 5.00%
MCALLEN-EDINBURG-MISSION, TX (FHA|USDA|VA) 1 $155,000 $155,000 $0 3.25%
Breckenridge, CO (FHA|USDA|VA) 1 $155,000 $155,000 $0 4.49%
BILLINGS, MT (FHA|USDA|VA) 1 $155,000 $155,000 $0 10.99%
BOULDER, CO (FHA|USDA|VA) 1 $145,000 $145,000 $0 3.99%
FORT WAYNE, IN (FHA|USDA|VA) 1 $145,000 $145,000 $2,562 3.99%
DES MOINES-WEST DES MOINES, IA (FHA|USDA|VA) 2 $140,000 $70,000 $0 5.38%
IDAHO FALLS, ID (FHA|USDA|VA) 1 $135,000 $135,000 $0 9.00%
OLYMPIA-LACEY-TUMWATER, WA (FHA|USDA|VA) 1 $115,000 $115,000 $0 6.75%
BINGHAMTON, NY (FHA|USDA|VA) 1 $105,000 $105,000 $0 8.99%
Oak Harbor, WA (FHA|USDA|VA) 1 $105,000 $105,000 $0 4.99%
COLUMBUS, OH (FHA|USDA|VA) 2 $100,000 $50,000 $0 5.87%
YOUNGSTOWN-WARREN-BOARDMAN, OH-PA (FHA|USDA|VA) 1 $95,000 $95,000 $0 10.99%
FAYETTEVILLE, NC (FHA|USDA|VA) 2 $90,000 $45,000 $1,715 6.13%
SANTA MARIA-SANTA BARBARA, CA (FHA|USDA|VA) 1 $85,000 $85,000 $0 3.75%
BRIDGEPORT-STAMFORD-NORWALK, CT (FHA|USDA|VA) 1 $85,000 $85,000 $0 8.75%
Seymour, IN (FHA|USDA|VA) 1 $85,000 $85,000 $0 8.75%
JOHNSON CITY, TN (FHA|USDA|VA) 1 $85,000 $85,000 $0 7.50%
Torrington, CT (FHA|USDA|VA) 1 $75,000 $75,000 $0 4.49%
Faribault-Northfield, MN (FHA|USDA|VA) 1 $75,000 $75,000 $0 3.25%
TOLEDO, OH (FHA|USDA|VA) 1 $75,000 $75,000 $0 7.75%
JOPLIN, MO (FHA|USDA|VA) 3 $75,000 $25,000 $0 6.08%
Stevens Point, WI (FHA|USDA|VA) 1 $75,000 $75,000 $0 11.99%
GAINESVILLE, GA (FHA|USDA|VA) 1 $75,000 $75,000 $0 5.75%
NEW HAVEN-MILFORD, CT (FHA|USDA|VA) 1 $65,000 $65,000 $0 6.75%
SAVANNAH, GA (FHA|USDA|VA) 1 $55,000 $55,000 $0 6.49%
GREENVILLE-ANDERSON, SC (FHA|USDA|VA) 1 $55,000 $55,000 $0 3.99%
OMAHA-COUNCIL BLUFFS, NE-IA (FHA|USDA|VA) 1 $55,000 $55,000 $0 6.25%
LUBBOCK, TX (FHA|USDA|VA) 1 $55,000 $55,000 $0 3.75%
Salina, KS (FHA|USDA|VA) 1 $45,000 $45,000 $0 7.75%
BLOOMINGTON, IL (FHA|USDA|VA) 1 $45,000 $45,000 $0 6.75%
LEWISTON-AUBURN, ME (FHA|USDA|VA) 1 $45,000 $45,000 $0 3.75%
Ukiah, CA (FHA|USDA|VA) 1 $45,000 $45,000 $0 4.75%
ST. CLOUD, MN (FHA|USDA|VA) 1 $35,000 $35,000 $0 9.99%
SAN ANGELO, TX (FHA|USDA|VA) 1 $35,000 $35,000 $0 6.50%
Ottawa, IL (FHA|USDA|VA) 1 $35,000 $35,000 $0 6.99%
MIDLAND, TX (FHA|USDA|VA) 1 $35,000 $35,000 $0 7.00%
KNOXVILLE, TN (FHA|USDA|VA) 1 $35,000 $35,000 $0 5.75%
HAGERSTOWN-MARTINSBURG, MD-WV (FHA|USDA|VA) 1 $35,000 $35,000 $0 6.99%
Sevierville, TN (FHA|USDA|VA) 1 $25,000 $25,000 $0 3.25%
MANHATTAN, KS (FHA|USDA|VA) 1 $25,000 $25,000 $0 4.99%
LOUISVILLE, KY (FHA|USDA|VA) 1 $25,000 $25,000 $0 7.75%
Holland, MI (FHA|USDA|VA) 1 $25,000 $25,000 $0 5.50%
SALEM, OR (FHA|USDA|VA) 1 $15,000 $15,000 $0 3.25%
Farmers Insurance Group Federal Credit Union's top markets include Los Angeles, Riverside, Phoenix, San Diego, and Seattle among others.

Their top states include:
  • California (FHA|USDA|VA)
  • Texas (FHA|USDA|VA)
  • Arizona (FHA|USDA|VA)
  • Washington (FHA|USDA|VA)
  • Colorado (FHA|USDA|VA)
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    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 523 $134,435,000 $257,046 $3,305 5.41%
    HELOC 334 $46,430,000 $139,012 n/a 5.74%

    For 2022, Farmers Insurance Group Federal Credit Union's most frequently originated type of loan was Conventional, with 523 originations. Their 2nd most popular type was HELOC, with 334 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Improvement 307 $38,185,000 $124,381 $0 5.31%
    Other 213 $26,175,000 $122,887 $0 5.65%
    Home Purchase 212 $75,340,000 $355,377 $4,923 5.99%
    Refi 71 $17,095,000 $240,775 $2,639 5.55%
    Cash Out Refi 54 $24,070,000 $445,741 $5,219 4.61%

    For 2022, Farmers Insurance Group Federal Credit Union's most frequently cited loan purpose was Home Improvement, with 307 originations. The 2nd most popular reason was Other, with 213 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 336 $46,530,000 $138,482 $0 5.73%
    20 Year 266 $34,590,000 $130,038 $185 5.94%
    30 Year 195 $93,275,000 $478,333 $5,814 4.83%
    15 Year 29 $4,445,000 $153,276 $421 4.94%
    10 Year 22 $1,660,000 $75,455 $0 4.70%
    5 Year 9 $365,000 $40,556 $0 5.64%

    For 2022, Farmers Insurance Group Federal Credit Union's most frequently cited loan duration was Other, with 336 originations. The 2nd most popular length was 20 Year, with 266 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 155 $18,565,000 $119,774
    $1k-2k 140 $64,500,000 $460,714
    $5k+ 26 $18,000,000 $692,308
    $2k-3k 15 $5,875,000 $391,667
    $3k-4k 7 $2,045,000 $292,143
    $4k-5k 7 $2,895,000 $413,571

    Farmers Insurance Group Federal Credit Union's average total fees were $5,814, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 155 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    4-5% 256 $71,090,000 $277,695
    3-4% 228 $48,340,000 $212,018
    5-6% 143 $26,775,000 $187,238
    Over 8% 108 $13,320,000 $123,333
    6-7% 64 $13,440,000 $210,000
    7-8% 58 $7,900,000 $136,207

    During 2022, Farmers Insurance Group Federal Credit Union's average interest rate for loans was 4.83%, while their most frequently originated rate bucket for loans was 4-5%, with 256 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 304 $17,390,000 $57,204 $96 5.91%
    $100k-200k 229 $31,435,000 $137,271 $1,087 5.78%
    $200k-400k 219 $61,495,000 $280,799 $3,603 5.13%
    $400k-600k 52 $24,930,000 $479,423 $5,612 5.01%
    $600k-1MM 42 $31,220,000 $743,333 $7,743 4.65%
    $1MM+ 11 $14,395,000 $1,308,636 $10,311 4.31%

    2022 saw Farmers Insurance Group Federal Credit Union place emphasis on $100,000 or less loans with 304 originations, totaling $17,390,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $150k-250k 253 $57,575,000 $227,569 $3,224 5.41%
    $250k+ 227 $73,115,000 $322,093 $4,790 5.73%
    $100k-150k 212 $31,820,000 $150,094 $2,358 5.58%
    $75k-100k 79 $9,665,000 $122,342 $2,173 5.54%
    $50k-75k 63 $6,705,000 $106,429 $2,382 5.40%
    $50k or less 16 $1,020,000 $63,750 $1,654 5.53%

    Farmers Insurance Group Federal Credit Union lent most frequently to those with incomes in the $150k-250k range, with 253 originations. The second most popular income band? $250k+, with 227 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 161 $35,135,000 $218,230 $3,078 5.21%
    50-60% 154 $33,610,000 $218,247 $3,726 5.70%
    30-36% 126 $23,160,000 $183,810 $2,295 5.65%
    <20% 83 $14,375,000 $173,193 $2,624 5.45%
    46% 32 $9,490,000 $296,563 $4,331 5.27%
    44% 28 $5,460,000 $195,000 $3,804 5.14%
    41% 28 $6,790,000 $242,500 $4,928 5.54%
    38% 26 $5,440,000 $209,231 $4,467 5.88%
    49% 25 $5,465,000 $218,600 $4,882 6.39%
    40% 22 $3,250,000 $147,727 $2,994 5.86%
    43% 22 $4,300,000 $195,455 $2,794 5.63%
    39% 22 $6,080,000 $276,364 $3,793 5.00%
    42% 21 $4,135,000 $196,905 $4,768 5.07%
    37% 21 $3,315,000 $157,857 $2,653 6.39%
    47% 21 $6,325,000 $301,190 $2,945 5.59%
    48% 20 $3,610,000 $180,500 $2,012 6.40%
    36% 18 $3,060,000 $170,000 $3,464 5.16%
    45% 15 $3,865,000 $257,667 $4,167 5.74%
    >60% 10 $3,630,000 $363,000 $4,507 4.99%

    Farmers Insurance Group Federal Credit Union lent most frequently to those with DTI ratios of 20-30%, with 161 originations. The next most common DTI ratio? 50-60%, with 154 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    Not provided 335 $86,145,000 $257,149 $4,007 5.50%
    White 447 $78,265,000 $175,089 $2,516 5.57%
    Asian 27 $7,965,000 $295,000 $7,533 5.05%
    Black 28 $5,100,000 $182,143 $2,544 6.57%
    American Indian 7 $1,335,000 $190,714 $4,004 5.71%
    Asian Indian 4 $630,000 $157,500 $0 4.31%
    Chinese 2 $560,000 $280,000 $0 3.99%
    Filipino 4 $430,000 $107,500 $0 4.56%
    Other Asian 2 $400,000 $200,000 $0 5.25%
    Not applicable 1 $35,000 $35,000 $0 3.25%

    Approval Rates

    Total approvals of all applications
    90.40%

    Farmers Insurance Group Federal Credit Union has an average approval rate.

    Pick Rate

    Approvals leading to origination
    93.35%

    Farmers Insurance Group Federal Credit Union has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 857 $180,865,000 $211,044

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    857 $180,865,000 $211,044

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 235 $40,895,000 $174,021 $394 6.17%
    40-60% 50 $14,150,000 $283,000 $3,621 5.35%
    60-80% 110 $51,850,000 $471,364 $5,536 4.80%
    80-100% 80 $37,910,000 $473,875 $6,115 4.89%
    Under 20% 382 $36,060,000 $94,398 $193 5.52%