First Federal Bank Of Louisiana Mortgage Rates, Fees & Info

Lake Charles, LA

LEI: 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

301

Origination Dollar Volume (All Markets)

$61,965,000

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
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%
First Federal Bank Of Louisiana's top markets include Lake Charles, Alexandria, Deridder, Natchitoches, and Shreveport among others.

Their top states include:
  • Louisiana (FHA|USDA|VA)
  • Texas (FHA|USDA|VA)
  • Oregon (FHA|USDA|VA)
  • 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

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 160 $38,330,000 $239,563 $0 0.00%
    Refi 60 $9,960,000 $166,000 $0 0.00%
    Cash Out Refi 34 $7,590,000 $223,235 $0 0.00%
    Home Improvement 27 $1,825,000 $67,593 $0 0.00%
    Other 20 $4,260,000 $213,000 $0 0.00%

    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

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 99 $5,705,000 $57,626 $0 0.00%
    $100k-200k 91 $12,835,000 $141,044 $0 0.00%
    $200k-400k 86 $24,090,000 $280,116 $0 0.00%
    $400k-600k 15 $7,315,000 $487,667 $0 0.00%
    $1MM+ 5 $8,355,000 $1,671,000 $0 0.00%
    $600k-1MM 5 $3,665,000 $733,000 $0 0.00%

    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

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 62 $11,630,000 $187,581 $0 0.00%
    $150k-250k 47 $9,925,000 $211,170 $0 0.00%
    $250k+ 31 $10,785,000 $347,903 $0 0.00%
    $50k-75k 30 $3,710,000 $123,667 $0 0.00%
    $75k-100k 28 $4,150,000 $148,214 $0 0.00%
    $50k or less 22 $3,120,000 $141,818 $0 0.00%

    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

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 204 $41,690,000 $204,363 $0 0.00%
    Not applicable 75 $15,165,000 $202,200 $0 0.00%
    Black 19 $3,585,000 $188,684 $0 0.00%
    Asian 2 $1,350,000 $675,000 $0 0.00%
    Not provided 1 $175,000 $175,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    87.62%

    First Federal Bank Of Louisiana has an average approval rate.

    Pick Rate

    Approvals leading to origination
    84.39%

    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

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    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%