Long Beach Firemen S Credit Union Mortgage Rates, Fees & Info
Long Beach, CALEI: 549300LL0P3NQ5Q2UF60
Tax ID: 95-0944725
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Mortgage Data
Review & Overview
Long Beach Firemen S Credit Union is a smaller credit union specializing in Cash Out Refi loans. Long Beach Firemen S Credit Union has a high proportion of conventional loans. Their top markets by origination volume include: Los Angeles, Riverside, Oxnard, and Sacramento among others. We have data for 4 markets. (Some data included below & more in-depth data is available with an active subscription.)Long Beach Firemen S 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. Long Beach Firemen S Credit Union is typically a low 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.
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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| 30 Year Conventional Purchase | 6.00% | 4/28/24 |
| 30 Year Conventional Refi | 7.41% | 4/28/24 |
| 30 Year Cash-out Refi | 6.11% | 4/28/24 |
| 15 Year Conventional Refi | 3.94% | 4/28/24 |
| 15 Year Cash-out Refi | 3.94% | 4/28/24 |
| 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. | ||
Long Beach Firemen S 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
46Origination Dollar Volume (All Markets)
$23,210,000Top 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 |
|---|---|---|---|---|---|
| Los Angeles-Long Beach-Anaheim, CA (FHA|USDA|VA) | 36 | $18,740,000 | $520,556 | $3,323 | 3.39% |
| RIVERSIDE-SAN BERNARDINO-ONTARIO, CA (FHA|USDA|VA) | 7 | $2,675,000 | $382,143 | $2,511 | 3.49% |
| OXNARD-THOUSAND OAKS-VENTURA, CA (FHA|USDA|VA) | 2 | $1,160,000 | $580,000 | $4,586 | 3.25% |
| SACRAMENTO-ROSEVILLE-FOLSOM, CA (FHA|USDA|VA) | 1 | $635,000 | $635,000 | $3,588 | 3.75% |
Their top states include:
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Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 46 | $23,210,000 | $504,565 | $3,260 | 3.41% |
For 2019, Long Beach Firemen S Credit Union's most frequently originated type of loan was Conventional, with 46 originations.
Loan Reason
For 2019, Long Beach Firemen S Credit Union's most frequently cited loan purpose was Cash Out Refi, with 32 originations. The 2nd most popular reason was Refi, with 8 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Other | 41 | $21,325,000 | $520,122 | $3,345 | 3.41% |
| 30 Year | 5 | $1,885,000 | $377,000 | $2,563 | 3.45% |
For 2019, Long Beach Firemen S Credit Union's most frequently cited loan duration was Other, with 41 originations. The 2nd most popular length was 30 Year, with 5 originations.
Origination Fees/Closing Costs
| Origination Fee/Closing Cost | Originations | Total Value | Average Loan |
|---|---|---|---|
| $<1k | 42 | $22,340,000 | $531,905 |
| $1k-2k | 2 | $680,000 | $340,000 |
Long Beach Firemen S Credit Union's average total fees were $2,563, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 42 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 3-4% | 44 | $23,020,000 | $523,182 |
| 4-5% | 2 | $190,000 | $95,000 |
During 2019, Long Beach Firemen S Credit Union's average interest rate for loans was 3.45%, while their most frequently originated rate bucket for loans was 3-4%, with 44 originations.
Loan Sizing
2019 saw Long Beach Firemen S Credit Union place emphasis on $600k-1MM loans with 17 originations, totaling $11,765,000 in origination value.
Applicant Income
Long Beach Firemen S Credit Union lent most frequently to those with incomes in the $150k-250k range, with 23 originations. The second most popular income band? $100k-150k, with 12 originations.
Applicant Debt to Income Ratio
Long Beach Firemen S Credit Union lent most frequently to those with DTI ratios of 20-30%, with 13 originations. The next most common DTI ratio? 30-36%, with 10 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications97.92%
Long Beach Firemen S 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 origination97.83%
Long Beach Firemen S Credit Union has an exceptionally high pick rate. They most likely have borrower friendly terms or other characteristics like being fast to close or are easy to work with.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 46 | $23,210,000 | $504,565 |
Occupancy Type Mix
| Dwelling Type | Originations | Total Value | Average Loan |
|---|---|---|---|
| Single Family (1-4 Units):Site-Built | 46 | $23,210,000 | $504,565 |
LTV Distribution
Complaints
| Bank Name | Product | Issue | 2019 CPFB Complaints | % of Total Issues |
|---|---|---|---|---|
| Long & Foster Financial Services, Inc. | Conventional home mortgage | Trouble during payment process | 2 | 50.0% |
| Long & Foster Financial Services, Inc. | FHA mortgage | Applying for a mortgage or refinancing an existing mortgage | 1 | 25.0% |
| Long & Foster Financial Services, Inc. | VA mortgage | Closing on a mortgage | 1 | 25.0% |