First Federal Bank Of Louisiana Mortgage Rates, Fees & Info
Lake Charles, LALEI: 549300O1FOCD65WZ9873
Tax ID: 72-0401264
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Mortgage Data
Review & Overview
First Federal Bank Of Louisiana is a smaller bank specializing in Home Purchase loans. First Federal Bank Of Louisiana has a high proportion of conventional loans. They have a a low proportion of FHA loans. (This may mean they shy away from first time homebuyers.) They have a low ratio of USDA loans. Their top markets by origination volume include: Lake Charles, Alexandria, Deridder, Natchitoches, and Shreveport among others. We have data for 11 markets. (Some data included below & more in-depth data is available with an active subscription.)First Federal Bank Of Louisiana has an average approval rate when compared to the average across all lenders. They have a below average pick rate when compared to similar lenders.
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Originations
301Origination Dollar Volume (All Markets)
$61,965,000Top 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 |
|---|---|---|---|---|---|
| LAKE CHARLES, LA (FHA|USDA|VA) | 201 | $42,125,000 | $209,577 | $0 | 0.00% |
| ALEXANDRIA, LA (FHA|USDA|VA) | 45 | $6,245,000 | $138,778 | $0 | 0.00% |
| DeRidder, LA (FHA|USDA|VA) | 16 | $3,460,000 | $216,250 | $0 | 0.00% |
| Natchitoches, LA (FHA|USDA|VA) | 12 | $2,670,000 | $222,500 | $0 | 0.00% |
| Outside of Metro Areas | 13 | $2,285,000 | $175,769 | $0 | 0.00% |
| SHREVEPORT-BOSSIER CITY, LA (FHA|USDA|VA) | 1 | $1,755,000 | $1,755,000 | $0 | 0.00% |
| BATON ROUGE, LA (FHA|USDA|VA) | 5 | $1,365,000 | $273,000 | $0 | 0.00% |
| Jennings, LA (FHA|USDA|VA) | 5 | $875,000 | $175,000 | $0 | 0.00% |
| HOUSTON-THE WOODLANDS-SUGAR LAND, TX (FHA|USDA|VA) | 1 | $835,000 | $835,000 | $0 | 0.00% |
| Fort Polk South, LA (FHA|USDA|VA) | 1 | $215,000 | $215,000 | $0 | 0.00% |
| NEW ORLEANS-METAIRIE, LA (FHA|USDA|VA) | 1 | $135,000 | $135,000 | $0 | 0.00% |
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 297 | $61,275,000 | $206,313 | $0 | 0.00% |
| FHA | 2 | $310,000 | $155,000 | $0 | 0.00% |
| USDA | 2 | $380,000 | $190,000 | $0 | 0.00% |
For 2022, First Federal Bank Of Louisiana's most frequently originated type of loan was Conventional, with 297 originations. Their 2nd most popular type was FHA, with 2 originations.
Loan Reason
For 2022, First Federal Bank Of Louisiana's most frequently cited loan purpose was Home Purchase, with 160 originations. The 2nd most popular reason was Refi, with 60 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Other | 301 | $61,965,000 | $205,864 | $0 | 0.00% |
For 2022, First Federal Bank Of Louisiana's most frequently cited loan duration was Other, with 301 originations.
Loan Sizing
2022 saw First Federal Bank Of Louisiana place emphasis on $100,000 or less loans with 99 originations, totaling $5,705,000 in origination value.
Applicant Income
First Federal Bank Of Louisiana lent most frequently to those with incomes in the $100k-150k range, with 62 originations. The second most popular income band? $150k-250k, with 47 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Exempt% | 301 | $61,965,000 | $205,864 | $0 | 0.00% |
First Federal Bank Of Louisiana lent most frequently to those with DTI ratios of Exempt%, with 301 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications87.62%
First Federal Bank Of Louisiana has an average approval rate.
Pick Rate
Approvals leading to origination84.39%
First Federal Bank Of Louisiana has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| Exempt | 301 | $61,965,000 | $205,864 |
Complaints
| Bank Name | Product | Issue | 2022 CPFB Complaints | % of Total Issues |
|---|---|---|---|---|
| FIRST CITIZENS BANCSHARES, INC. | Home equity loan or line of credit (HELOC) | Applying for a mortgage or refinancing an existing mortgage | 1 | 100.0% |