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

Burbank, CA

LEI: 549300KPHGEE40YQXO21

Tax ID: 95-1661138

1 stars - out of 5 stars, based on 23 reviews

2021 Data | 2020 Data | 2019 Data | 2018 Data


Overview

Farmers Insurance Group Federal Credit Union is a smaller credit union specializing in Home Purchase and Cash Out Refi loans. Farmers Insurance Group Federal Credit Union has a high proportion of conventional loans. Their top markets include Los Angeles, Riverside, Phoenix, San Diego, and San Francisco among others. Farmers Insurance Group Federal Credit Union has an average approval rate for mortages when compared nationally. They have an average pick rate when compared to the same sample of other lendors. Farmers Insurance Group Federal Credit Union is typically an average fee lendor.


Originations

542

Origination Dollar Volume (All Markets)

$110,180,000

Relative Rate

Farmers Insurance Group Federal Credit Union's average 30 year fixed rate mortgage of loans were 4.41%.

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

This yields a difference of 1.26%.

Relative Fees

Farmers Insurance Group Federal Credit Union's average total fees for a 30 year fixed rate mortgage are $5,006.

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) 60 $17,910,000 $298,500 $6,850 4.81%
RIVERSIDE-SAN BERNARDINO-ONTARIO, CA (FHA|USDA|VA) 31 $9,265,000 $298,871 $5,835 5.32%
Outside of Metro Areas 73 $7,365,000 $100,890 $825 6.18%
PHOENIX-MESA-CHANDLER, AZ (FHA|USDA|VA) 34 $5,650,000 $166,176 $3,278 5.63%
SAN DIEGO-CHULA VISTA-CARLSBAD, CA (FHA|USDA|VA) 10 $3,490,000 $349,000 $4,082 5.08%
San Francisco-Oakland-Berkeley, CA (FHA|USDA|VA) 9 $3,465,000 $385,000 $4,497 4.17%
Dallas-Fort Worth-Arlington, TX (FHA|USDA|VA) 8 $2,910,000 $363,750 $8,068 4.54%
DENVER-AURORA-LAKEWOOD, CO (FHA|USDA|VA) 15 $2,905,000 $193,667 $3,186 4.32%
Seattle-Tacoma-Bellevue, WA (FHA|USDA|VA) 17 $2,835,000 $166,765 $4,018 5.62%
New York-Newark-Jersey City, NY-NJ-PA (FHA|USDA|VA) 6 $2,250,000 $375,000 $5,075 5.42%
Chicago-Naperville-Elgin, IL-IN-WI (FHA|USDA|VA) 15 $2,205,000 $147,000 $3,419 5.10%
LAS VEGAS-HENDERSON-PARADISE, NV (FHA|USDA|VA) 7 $2,025,000 $289,286 $4,879 5.07%
OXNARD-THOUSAND OAKS-VENTURA, CA (FHA|USDA|VA) 7 $1,925,000 $275,000 $4,077 5.03%
STOCKTON, CA (FHA|USDA|VA) 6 $1,910,000 $318,333 $4,593 5.71%
SANTA ROSA-PETALUMA, CA (FHA|USDA|VA) 3 $1,765,000 $588,333 $2,681 5.67%
MODESTO, CA (FHA|USDA|VA) 7 $1,515,000 $216,429 $3,612 5.96%
NASHVILLE-DAVIDSON--MURFREESBORO--FRANKLIN, TN (FHA|USDA|VA) 4 $1,480,000 $370,000 $3,337 5.78%
MINNEAPOLIS-ST. PAUL-BLOOMINGTON, MN-WI (FHA|USDA|VA) 11 $1,425,000 $129,545 $2,152 5.68%
SANTA CRUZ-WATSONVILLE, CA (FHA|USDA|VA) 2 $1,420,000 $710,000 $6,989 4.18%
KANSAS CITY, MO-KS (FHA|USDA|VA) 12 $1,370,000 $114,167 $1,277 5.26%
SAN ANTONIO-NEW BRAUNFELS, TX (FHA|USDA|VA) 4 $1,180,000 $295,000 $6,413 4.22%
ST. LOUIS, MO-IL (FHA|USDA|VA) 5 $1,085,000 $217,000 $3,413 4.55%
OKLAHOMA CITY, OK (FHA|USDA|VA) 9 $975,000 $108,333 $2,206 5.65%
TUCSON, AZ (FHA|USDA|VA) 7 $955,000 $136,429 $2,145 5.39%
GRAND RAPIDS-KENTWOOD, MI (FHA|USDA|VA) 8 $950,000 $118,750 $0 3.99%
AUSTIN-ROUND ROCK-GEORGETOWN, TX (FHA|USDA|VA) 4 $900,000 $225,000 $14,428 3.96%
ATLANTA-SANDY SPRINGS-ALPHARETTA, GA (FHA|USDA|VA) 7 $885,000 $126,429 $2,143 5.00%
BALTIMORE-COLUMBIA-TOWSON, MD (FHA|USDA|VA) 2 $750,000 $375,000 $3,374 4.25%
COLUMBUS, OH (FHA|USDA|VA) 2 $690,000 $345,000 $3,525 5.06%
SAN JOSE-SUNNYVALE-SANTA CLARA, CA (FHA|USDA|VA) 3 $685,000 $228,333 $3,589 4.24%
SACRAMENTO-ROSEVILLE-FOLSOM, CA (FHA|USDA|VA) 5 $685,000 $137,000 $0 5.29%
NAPLES-MARCO ISLAND, FL (FHA|USDA|VA) 1 $655,000 $655,000 $3,076 4.50%
PROVO-OREM, UT (FHA|USDA|VA) 2 $640,000 $320,000 $0 4.37%
FRESNO, CA (FHA|USDA|VA) 4 $630,000 $157,500 $1,640 4.43%
SANTA MARIA-SANTA BARBARA, CA (FHA|USDA|VA) 3 $625,000 $208,333 $4,437 6.45%
Detroit-Warren-Dearborn, MI (FHA|USDA|VA) 7 $625,000 $89,286 $1,617 5.28%
ST. GEORGE, UT (FHA|USDA|VA) 2 $610,000 $305,000 $3,978 4.75%
Elko, NV (FHA|USDA|VA) 2 $610,000 $305,000 $4,900 6.06%
TULSA, OK (FHA|USDA|VA) 3 $605,000 $201,667 $4,643 4.16%
WACO, TX (FHA|USDA|VA) 2 $600,000 $300,000 $4,917 4.18%
BAKERSFIELD, CA (FHA|USDA|VA) 4 $590,000 $147,500 $4,405 6.47%
CORVALLIS, OR (FHA|USDA|VA) 2 $570,000 $285,000 $4,782 7.87%
ALBUQUERQUE, NM (FHA|USDA|VA) 3 $565,000 $188,333 $4,821 3.70%
CHICO, CA (FHA|USDA|VA) 1 $555,000 $555,000 $3,514 4.50%
HOUSTON-THE WOODLANDS-SUGAR LAND, TX (FHA|USDA|VA) 4 $550,000 $137,500 $2,333 5.40%
MIDLAND, TX (FHA|USDA|VA) 1 $545,000 $545,000 $5,742 4.25%
YUMA, AZ (FHA|USDA|VA) 1 $545,000 $545,000 $8,065 4.25%
BOISE CITY, ID (FHA|USDA|VA) 3 $545,000 $181,667 $0 4.66%
OGDEN-CLEARFIELD, UT (FHA|USDA|VA) 2 $540,000 $270,000 $4,347 4.37%
VISALIA, CA (FHA|USDA|VA) 2 $540,000 $270,000 $3,320 4.25%
YAKIMA, WA (FHA|USDA|VA) 2 $510,000 $255,000 $3,750 6.13%
COLORADO SPRINGS, CO (FHA|USDA|VA) 4 $510,000 $127,500 $0 6.12%
MEDFORD, OR (FHA|USDA|VA) 2 $500,000 $250,000 $5,133 4.25%
WENATCHEE, WA (FHA|USDA|VA) 1 $495,000 $495,000 $4,664 4.50%
MOUNT VERNON-ANACORTES, WA (FHA|USDA|VA) 1 $495,000 $495,000 $4,481 4.38%
PORTLAND-VANCOUVER-HILLSBORO, OR-WA (FHA|USDA|VA) 5 $485,000 $97,000 $0 4.84%
RENO, NV (FHA|USDA|VA) 3 $485,000 $161,667 $0 3.99%
SAN LUIS OBISPO-PASO ROBLES, CA (FHA|USDA|VA) 2 $480,000 $240,000 $0 5.87%
YUBA CITY, CA (FHA|USDA|VA) 3 $435,000 $145,000 $2,739 6.08%
WICHITA, KS (FHA|USDA|VA) 3 $405,000 $135,000 $2,820 5.75%
Owatonna, MN (FHA|USDA|VA) 1 $385,000 $385,000 $3,658 4.50%
BILLINGS, MT (FHA|USDA|VA) 2 $370,000 $185,000 $3,020 4.75%
Roseburg, OR (FHA|USDA|VA) 1 $365,000 $365,000 $5,632 4.50%
SALT LAKE CITY, UT (FHA|USDA|VA) 3 $355,000 $118,333 $0 3.99%
SPOKANE-SPOKANE VALLEY, WA (FHA|USDA|VA) 1 $355,000 $355,000 $0 4.99%
PITTSBURGH, PA (FHA|USDA|VA) 1 $335,000 $335,000 $17,384 3.38%
IDAHO FALLS, ID (FHA|USDA|VA) 1 $325,000 $325,000 $3,130 4.50%
Ellensburg, WA (FHA|USDA|VA) 1 $325,000 $325,000 $3,792 4.63%
BELLINGHAM, WA (FHA|USDA|VA) 1 $305,000 $305,000 $3,638 4.63%
Outside of Metro Areas 1 $305,000 $305,000 $3,805 4.75%
KENNEWICK-RICHLAND, WA (FHA|USDA|VA) 1 $305,000 $305,000 $3,448 4.50%
SALINAS, CA (FHA|USDA|VA) 1 $305,000 $305,000 $0 3.99%
ROANOKE, VA (FHA|USDA|VA) 1 $295,000 $295,000 $0 7.75%
MERCED, CA (FHA|USDA|VA) 3 $295,000 $98,333 $3,314 4.24%
PRESCOTT VALLEY-PRESCOTT, AZ (FHA|USDA|VA) 2 $280,000 $140,000 $3,183 4.50%
Newport, OR (FHA|USDA|VA) 2 $280,000 $140,000 $4,091 6.06%
DULUTH, MN-WI (FHA|USDA|VA) 3 $265,000 $88,333 $0 3.99%
Wilmington, OH (FHA|USDA|VA) 2 $260,000 $130,000 $1,679 6.06%
Philadelphia-Camden-Wilmington, PA-NJ-DE-MD (FHA|USDA|VA) 3 $235,000 $78,333 $0 8.33%
SALEM, OR (FHA|USDA|VA) 3 $225,000 $75,000 $0 5.91%
INDIANAPOLIS-CARMEL-ANDERSON, IN (FHA|USDA|VA) 2 $210,000 $105,000 $2,934 3.25%
Alice, TX (FHA|USDA|VA) 1 $205,000 $205,000 $2,606 5.00%
CINCINNATI, OH-KY-IN (FHA|USDA|VA) 2 $190,000 $95,000 $2,884 6.25%
DELTONA-DAYTONA BEACH-ORMOND BEACH, FL (FHA|USDA|VA) 1 $185,000 $185,000 $4,159 4.50%
HARTFORD-EAST HARTFORD-MIDDLETOWN, CT (FHA|USDA|VA) 2 $180,000 $90,000 $0 7.95%
MADISON, WI (FHA|USDA|VA) 2 $170,000 $85,000 $2,994 3.56%
GREELEY, CO (FHA|USDA|VA) 1 $145,000 $145,000 $0 7.75%
CLEVELAND-ELYRIA, OH (FHA|USDA|VA) 2 $140,000 $70,000 $0 7.12%
VALLEJO, CA (FHA|USDA|VA) 2 $140,000 $70,000 $0 3.99%
RICHMOND, VA (FHA|USDA|VA) 1 $135,000 $135,000 $0 7.75%
MILWAUKEE-WAUKESHA, WI (FHA|USDA|VA) 1 $125,000 $125,000 $2,945 4.63%
LIMA, OH (FHA|USDA|VA) 1 $125,000 $125,000 $3,989 4.88%
MEMPHIS, TN-MS-AR (FHA|USDA|VA) 1 $125,000 $125,000 $0 7.75%
COLUMBUS, GA-AL (FHA|USDA|VA) 2 $120,000 $60,000 $3,836 5.31%
ALBANY-LEBANON, OR (FHA|USDA|VA) 1 $105,000 $105,000 $0 7.75%
Torrington, CT (FHA|USDA|VA) 1 $95,000 $95,000 $0 7.75%
EUGENE-SPRINGFIELD, OR (FHA|USDA|VA) 1 $75,000 $75,000 $0 3.99%
FAYETTEVILLE-SPRINGDALE-ROGERS, AR (FHA|USDA|VA) 1 $75,000 $75,000 $0 8.25%
LANSING-EAST LANSING, MI (FHA|USDA|VA) 1 $75,000 $75,000 $0 4.99%
Liberal, KS (FHA|USDA|VA) 1 $75,000 $75,000 $0 3.99%
SOUTH BEND-MISHAWAKA, IN-MI (FHA|USDA|VA) 1 $65,000 $65,000 $0 4.99%
KINGSTON, NY (FHA|USDA|VA) 1 $55,000 $55,000 $0 7.75%
DES MOINES-WEST DES MOINES, IA (FHA|USDA|VA) 1 $55,000 $55,000 $0 3.99%
EVANSVILLE, IN-KY (FHA|USDA|VA) 1 $55,000 $55,000 $0 10.86%
Ottawa, KS (FHA|USDA|VA) 1 $45,000 $45,000 $0 5.75%
Whitewater, WI (FHA|USDA|VA) 1 $45,000 $45,000 $0 7.75%
Angola, IN (FHA|USDA|VA) 1 $35,000 $35,000 $0 6.50%
PROVIDENCE-WARWICK, RI-MA (FHA|USDA|VA) 1 $35,000 $35,000 $0 10.25%
CHEYENNE, WY (FHA|USDA|VA) 1 $35,000 $35,000 $0 9.75%
REDDING, CA (FHA|USDA|VA) 1 $35,000 $35,000 $0 3.99%
Faribault-Northfield, MN (FHA|USDA|VA) 1 $35,000 $35,000 $0 5.99%
MADERA, CA (FHA|USDA|VA) 1 $35,000 $35,000 $0 5.75%
OLYMPIA-LACEY-TUMWATER, WA (FHA|USDA|VA) 1 $15,000 $15,000 $0 3.99%

Farmers Insurance Group Federal Credit Union's top markets include Los Angeles, Riverside, Phoenix, San Diego, and San Francisco among others.

Product Mix

Loan Type Originations Total Value Average Loan Average Fees Average Rate
Conventional 542 $110,180,000 $203,284 $3,818 5.32%

For the 2021 period, Farmers Insurance Group Federal Credit Union's most frequently originated loan type of loans were Conventional, with 542 originations.

Loan Reason

Loan Reason Originations Total Value Average Loan Average Fees Average Rate
Home Improvement 181 $19,975,000 $110,359 $0 5.16%
Other 128 $13,650,000 $106,641 $0 5.56%
Home Purchase 107 $33,405,000 $312,196 $4,721 5.75%
Refi 65 $16,505,000 $253,923 $3,558 5.26%
Cash Out Refi 61 $26,645,000 $436,803 $4,564 4.56%

For the 2021, Farmers Insurance Group Federal Credit Union's most frequently cited loan purpose of loans were Home Improvement, with 181 originations. The 2nd most popular reason of loans were Other, with 128 originations.

Loan Duration/Length

Loan Length Originations Total Value Average Loan Average Fees Average Rate
Other 214 $26,390,000 $123,318 $0 5.29%
20 Year 144 $15,280,000 $106,111 $103 6.43%
30 Year 139 $64,865,000 $466,655 $5,006 4.41%
10 Year 21 $1,125,000 $53,571 $0 4.91%
15 Year 17 $2,245,000 $132,059 $2,461 4.33%
5 Year 7 $275,000 $39,286 $0 4.67%

For the 2021, Farmers Insurance Group Federal Credit Union's most frequently cited loan length of loans were Other, with 214 originations. The 2nd most popular length of loans were 20 Year, with 144 originations.

Origination Fees

Origination Fee Originations Total Value Average Loan
$1k-2k 116 $49,390,000 $425,776
$<1k 44 $3,990,000 $90,682
$2k-3k 11 $5,825,000 $529,545
$3k-4k 9 $4,415,000 $490,556
$5k+ 7 $6,195,000 $885,000

$5,006 of loans were Farmers Insurance Group Federal Credit Union's average total fees, while their most frequently occuring range of origination fees were in the $1k-2k bucket, with 116 originations.

Interest Rates

Loan Rate Originations Total Value Average Loan
3-4% 217 $33,795,000 $155,737
4-5% 154 $57,440,000 $372,987
7-8% 67 $7,755,000 $115,746
Over 8% 49 $4,165,000 $85,000
5-6% 45 $4,935,000 $109,667
6-7% 6 $320,000 $53,333
2.5-3% 3 $1,615,000 $538,333
<2.5% 1 $155,000 $155,000

During 2021, Farmers Insurance Group Federal Credit Union's average interest rate of loans were 4.41%, while their most frequently originated rate bucket of loans were 3-4%, with 217 originations.

Loan Sizing

Loan Size Originations Total Value Average Loan Average Fees Average Rate
$100,000 or less 218 $12,210,000 $56,009 $198 5.83%
$100k-200k 135 $18,155,000 $134,481 $2,301 5.45%
$200k-400k 125 $34,775,000 $278,200 $4,129 4.75%
$400k-600k 32 $16,200,000 $506,250 $4,802 4.52%
$600k-1MM 24 $17,540,000 $730,833 $6,440 4.19%
$1MM+ 8 $11,300,000 $1,412,500 $9,893 4.38%

2021 saw Farmers Insurance Group Federal Credit Union place emphasis on $100,000 or less loans with 218 originations, totaling $12,210,000 in origination value.

Applicant Income

Applicant Income Originations Total Value Average Loan Average Fees Average Rate
$150k-250k 164 $32,480,000 $198,049 $3,893 5.40%
$100k-150k 145 $22,465,000 $154,931 $2,855 5.62%
$250k+ 139 $46,455,000 $334,209 $5,409 5.01%
$75k-100k 48 $4,690,000 $97,708 $1,690 5.28%
$50k-75k 36 $3,760,000 $104,444 $2,446 5.17%
$50k or less 10 $330,000 $33,000 $0 4.47%

Farmers Insurance Group Federal Credit Union lent most frequently to those with incomes in the $150k-250k range, with 164 originations. The second most popular income band? $100k-150k, with 145 originations.

Applicant Debt to Income Ratio

DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
20-30% 116 $19,950,000 $171,983 $2,972 5.16%
30-36% 89 $19,765,000 $222,079 $5,209 5.39%
50-60% 65 $10,405,000 $160,077 $2,364 5.68%
<20% 56 $11,680,000 $208,571 $3,686 5.40%
37% 23 $5,385,000 $234,130 $4,067 5.82%
46% 19 $5,185,000 $272,895 $6,184 4.85%
44% 18 $2,800,000 $155,556 $3,403 5.22%
42% 17 $3,715,000 $218,529 $3,595 5.22%
40% 16 $4,310,000 $269,375 $4,302 4.96%
39% 15 $2,895,000 $193,000 $3,104 4.90%
49% 15 $2,055,000 $137,000 $2,639 5.68%
38% 14 $3,930,000 $280,714 $5,623 4.84%
41% 14 $4,920,000 $351,429 $5,318 4.38%
43% 14 $3,850,000 $275,000 $5,208 6.12%
45% 14 $3,430,000 $245,000 $2,312 5.97%
48% 13 $2,045,000 $157,308 $2,490 4.72%
47% 13 $2,045,000 $157,308 $2,647 5.11%
36% 9 $1,465,000 $162,778 $4,247 4.65%
>60% 2 $350,000 $175,000 $2,945 7.99%

Farmers Insurance Group Federal Credit Union lent most frequently to those with DTI ratios of 20-30%, with 116 originations. The next most common DTI ratio? 30-36%, with 89 originations.

Ethnicity Mix

Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
Not provided 284 $72,970,000 $256,937 $4,332 5.34%
White 220 $32,110,000 $145,955 $2,485 5.21%
Asian 11 $1,945,000 $176,818 $1,166 4.56%
Black 17 $1,745,000 $102,647 $1,586 6.02%
American Indian 4 $560,000 $140,000 $0 7.25%
Filipino 2 $330,000 $165,000 $0 4.49%
Asian Indian 1 $205,000 $205,000 $0 3.99%
Native Hawiian 1 $135,000 $135,000 $0 7.75%
Japanese 1 $105,000 $105,000 $0 7.75%
Other Asian 1 $75,000 $75,000 $0 7.75%

Approval Rates

Total approvals of all applications
87.57%

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

Pick Rate

Approvals leading to origination
91.54%

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

Points and Fees

Points Originations Total Value Average Loan
0.0 1 $55,000 $55,000
NA 541 $110,125,000 $203,558

Occupancy Type Mix

Dwelling Type Originations Total Value Average Loan
542 $110,180,000 $203,284

LTV Distribution

Loan to Value Originations Total Value Average Loan Average Fees Average Rate
20-40% 135 $20,245,000 $149,963 $562 6.30%
40-60% 25 $6,235,000 $249,400 $3,519 4.57%
60-80% 91 $36,705,000 $403,352 $4,285 4.43%
80-100% 53 $28,225,000 $532,547 $6,413 4.40%
Under 20% 238 $18,770,000 $78,866 $0 5.37%