L & N Federal Credit Union Mortgage Rates, Fees & Info

LOUISVILLE, KY

LEI: 549300OHIEQGELZVJP60

Tax ID: 61-0508496

5 stars - Updated: 4/17/25 - out of 5 stars, based on 36 reviews

Latest/2024 | 2023 Data | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data

Jump to:

  • SimulatedRates™
  • Mortgage Calculator

    • Mortgage Data

  • Originations
  • Relative Rates
  • Relative Fees
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • Similar Lenders
  • Loan Length
  • Loan to Value Info
  • Debt-to-Income
  • Applicant Income
  • Ethnicity Info
  • Approval & Pick Rates
  • Points and Fees
  • Origination Fees (Closing Costs)

    • Review & Overview

    L & N Federal Credit Union is a smaller credit union specializing in Home Purchase loans. L & N Federal Credit Union has a high proportion of conventional loans. Their top markets by origination volume include: Louisville, London, Cincinnati, Somerset, and Crestview among others. We have data for 25 markets. (Some data included below & more in-depth data is available with an active subscription.)

    L & N Federal Credit Union has an above average approval rate when compared to the average across all lenders. They have a below average pick rate when compared to similar lenders. L & N Federal 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 relatively high 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) 6.19% 4/17/25
    30 Year Conventional Purchase 6.86% 4/17/25
    30 Year Conventional Refi 6.63% 4/17/25
    30 Year Cash-out Refi 6.71% 4/17/25
    15 Year Conventional Purchase 6.28% 4/17/25
    15 Year Conventional Refi 5.84% 4/17/25
    15 Year Cash-out Refi 5.84% 4/17/25
    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.

    L & N 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 L & N 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

    1,294

    Origination Dollar Volume (All Markets)

    $168,820,000
    Show all (6) awards

    Relative Rate

    L & N Federal Credit Union's average 30 year fixed mortgage rate was 7.69%.

    The 2024 average 30 year fixed rate mortgage across all markets and lenders was 6.55%.

    This yields a difference of 1.14%.

    Relative Fees (Closing Costs)

    L & N Federal Credit Union's average total fees/closing costs for a 30 year fixed rate mortgage were $2,390.

    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 $8,356.

    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
    LOUISVILLE, KY (FHA|USDA|VA) 783 $102,915,000 $131,437 $2,308 8.08%
    London, KY (FHA|USDA|VA) 229 $26,275,000 $114,738 $2,460 8.13%
    CINCINNATI, OH-KY-IN (FHA|USDA|VA) 108 $13,880,000 $128,519 $2,340 7.93%
    Somerset, KY (FHA|USDA|VA) 62 $5,770,000 $93,065 $2,307 8.03%
    Outside of Metro Areas 34 $3,790,000 $111,471 $2,207 7.87%
    CRESTVIEW-FORT WALTON BEACH-DESTIN, FL (FHA|USDA|VA) 1 $2,805,000 $2,805,000 $11,300 6.25%
    ELIZABETHTOWN-FORT KNOX, KY (FHA|USDA|VA) 15 $2,315,000 $154,333 $2,728 8.37%
    CLARKSVILLE, TN-KY (FHA|USDA|VA) 4 $2,280,000 $570,000 $1,677 6.66%
    LEXINGTON-FAYETTE, KY (FHA|USDA|VA) 7 $2,045,000 $292,143 $2,950 7.14%
    Bardstown, KY (FHA|USDA|VA) 17 $1,655,000 $97,353 $2,214 8.16%
    Richmond-Berea, KY (FHA|USDA|VA) 6 $1,140,000 $190,000 $2,298 7.54%
    KNOXVILLE, TN (FHA|USDA|VA) 3 $805,000 $268,333 $3,383 7.54%
    HILTON HEAD ISLAND-BLUFFTON, SC (FHA|USDA|VA) 2 $710,000 $355,000 $0 8.25%
    BOWLING GREEN, KY (FHA|USDA|VA) 4 $690,000 $172,500 $2,561 7.22%
    Campbellsville, KY (FHA|USDA|VA) 2 $300,000 $150,000 $2,507 8.56%
    Frankfort, KY (FHA|USDA|VA) 2 $280,000 $140,000 $2,821 8.31%
    INDIANAPOLIS-CARMEL-ANDERSON, IN (FHA|USDA|VA) 2 $230,000 $115,000 $2,043 8.13%
    Scottsburg, IN (FHA|USDA|VA) 1 $175,000 $175,000 $1,900 7.50%
    Middlesborough, KY (FHA|USDA|VA) 2 $170,000 $85,000 $2,405 6.94%
    Madison, IN (FHA|USDA|VA) 1 $165,000 $165,000 $1,905 6.38%
    Danville, KY (FHA|USDA|VA) 4 $120,000 $30,000 $0 8.56%
    COLUMBUS, OH (FHA|USDA|VA) 1 $105,000 $105,000 $0 8.50%
    DAYTON-KETTERING, OH (FHA|USDA|VA) 2 $100,000 $50,000 $2,267 7.88%
    Mount Sterling, KY (FHA|USDA|VA) 1 $75,000 $75,000 $0 9.00%
    HUNTINGTON-ASHLAND, WV-KY-OH (FHA|USDA|VA) 1 $25,000 $25,000 $0 8.75%
    L & N Federal Credit Union's top markets include Louisville, London, Cincinnati, Somerset, and Crestview among others.

    Their top states include:
  • Kentucky (FHA|USDA|VA)
  • Indiana (FHA|USDA|VA)
  • Florida (FHA|USDA|VA)
  • Ohio (FHA|USDA|VA)
  • Tennessee (FHA|USDA|VA)

    • Similar Lenders

    We use machine learning to identify the top lenders compared against L & N Federal Credit Union based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.

    TRANSCEND
    Similarity Rank: 60
    Bank of Buffalo
    Similarity Rank: 72
    The Cecilian Bank
    Similarity Rank: 110
    Whitaker Bank
    Similarity Rank: 119
    The North Side Bank & Trust Company
    Similarity Rank: 136
    Abound Federal Credit Union
    Similarity Rank: 323
    COMMONWEALTH
    Similarity Rank: 325
    Peoples Exchange Bank
    Similarity Rank: 377
    Day Air Credit Union, Inc
    Similarity Rank: 510
    Somerville Bank
    Similarity Rank: 560

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    HELOC 884 $68,010,000 $76,934 n/a 8.52%
    Conventional 410 $100,810,000 $245,878 $2,383 7.05%

    For 2024, L & N Federal Credit Union's most frequently originated type of loan was HELOC, with 884 originations. Their 2nd most popular type was Conventional, with 410 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Other 390 $27,230,000 $69,821 $3,724 8.85%
    Home Purchase 280 $68,940,000 $246,214 $2,617 7.17%
    Cash Out Refi 243 $24,865,000 $102,325 $1,884 7.87%
    Refi 199 $31,015,000 $155,854 $2,091 7.91%
    Home Improvement 182 $16,770,000 $92,143 $2,108 8.12%

    For 2024, L & N Federal Credit Union's most frequently cited loan purpose was Other, with 390 originations. The 2nd most popular reason was Home Purchase, with 280 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 933 $136,655,000 $146,468 $2,390 7.69%
    20 Year 317 $17,935,000 $56,577 $2,716 9.27%
    15 Year 36 $12,720,000 $353,333 $2,340 6.92%
    10 Year 5 $365,000 $73,000 $1,656 6.58%
    5 Year 2 $680,000 $340,000 $0 7.00%
    3 Year 1 $465,000 $465,000 $0 6.75%

    For 2024, L & N Federal Credit Union's most frequently cited loan duration was 30 Year, with 933 originations. The 2nd most popular length was 20 Year, with 317 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 375 $87,055,000 $232,147
    $2k-3k 5 $735,000 $147,000
    $1k-2k 3 $535,000 $178,333
    $3k-4k 2 $560,000 $280,000
    $5k+ 2 $400,000 $200,000
    $4k-5k 1 $225,000 $225,000

    L & N Federal Credit Union's average total fees were $2,390, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 375 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    Over 8% 610 $46,900,000 $76,885
    6-7% 383 $73,205,000 $191,136
    7-8% 294 $43,400,000 $147,619
    5-6% 7 $5,315,000 $759,286

    During 2024, L & N Federal Credit Union's average interest rate for loans was 7.69%, while their most frequently originated rate bucket for loans was Over 8%, with 610 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 753 $38,555,000 $51,202 $1,839 8.50%
    $100k-200k 287 $40,995,000 $142,840 $2,003 7.60%
    $200k-400k 207 $53,725,000 $259,541 $2,592 7.30%
    $400k-600k 25 $11,795,000 $471,800 $3,251 7.01%
    $600k-1MM 16 $11,530,000 $720,625 $4,389 6.81%
    $1MM+ 6 $12,220,000 $2,036,667 $9,893 7.00%

    2024 saw L & N Federal Credit Union place emphasis on $100,000 or less loans with 753 originations, totaling $38,555,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 316 $27,000,000 $85,443 $2,170 8.29%
    $100k-150k 294 $38,290,000 $130,238 $2,452 8.03%
    $75k-100k 260 $28,290,000 $108,808 $2,256 8.10%
    $50k or less 180 $11,480,000 $63,778 $1,832 8.27%
    $150k-250k 169 $30,075,000 $177,959 $2,731 7.67%
    $250k+ 56 $23,320,000 $416,429 $3,646 7.40%

    L & N Federal Credit Union lent most frequently to those with incomes in the $50k-75k range, with 316 originations. The second most popular income band? $100k-150k, with 294 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 361 $41,395,000 $114,668 $2,308 8.04%
    30-36% 290 $33,860,000 $116,759 $2,287 8.13%
    <20% 125 $13,255,000 $106,040 $1,972 7.88%
    42% 103 $11,745,000 $114,029 $2,202 8.53%
    41% 76 $8,920,000 $117,368 $2,254 8.16%
    39% 57 $12,505,000 $219,386 $3,168 7.79%
    40% 56 $6,910,000 $123,393 $2,817 8.18%
    38% 51 $7,425,000 $145,588 $2,377 8.00%
    36% 47 $5,785,000 $123,085 $2,495 8.21%
    37% 41 $4,995,000 $121,829 $2,744 8.49%
    43% 25 $5,345,000 $213,800 $2,681 7.06%
    44% 17 $1,855,000 $109,118 $2,298 7.86%
    45% 7 $525,000 $75,000 $1,817 8.00%
    48% 5 $875,000 $175,000 $4,387 6.90%
    46% 3 $615,000 $205,000 $2,657 6.92%
    50-60% 3 $715,000 $238,333 $2,526 7.29%
    47% 2 $460,000 $230,000 $2,772 7.06%
    49% 2 $210,000 $105,000 $1,732 6.69%
    >60% 1 $125,000 $125,000 $1,900 6.63%

    L & N Federal Credit Union lent most frequently to those with DTI ratios of 20-30%, with 361 originations. The next most common DTI ratio? 30-36%, with 290 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 1,142 $141,560,000 $123,958 $2,385 8.04%
    Not applicable 19 $10,365,000 $545,526 $0 7.15%
    Black 93 $10,105,000 $108,656 $2,272 8.58%
    Not provided 23 $4,585,000 $199,348 $2,764 7.60%
    Asian 5 $915,000 $183,000 $2,030 6.95%
    American Indian 4 $680,000 $170,000 $1,943 7.59%
    Other Asian 3 $325,000 $108,333 $0 8.08%
    Other Pacific Islander 2 $100,000 $50,000 $0 8.75%
    Native Hawaiian or Islander 1 $75,000 $75,000 $0 7.00%
    Native Hawaiian 1 $65,000 $65,000 $0 7.50%
    Filipino 1 $45,000 $45,000 $0 7.00%

    Approval Rates

    Total approvals of all applications
    92.13%

    L & N Federal Credit Union has an average approval rate.

    Pick Rate

    Approvals leading to origination
    81.22%

    L & N Federal Credit Union has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    0.0 88 $6,150,000 $69,886
    10.0 1 $95,000 $95,000
    100.0 557 $41,655,000 $74,785
    NA 648 $120,920,000 $186,605

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    1,294 $168,820,000 $130,464

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 404 $38,790,000 $96,015 $1,729 8.32%
    40-60% 149 $25,685,000 $172,383 $2,083 7.74%
    60-80% 128 $30,060,000 $234,844 $2,409 6.97%
    80-100% 206 $56,760,000 $275,534 $2,591 7.34%
    Under 20% 407 $17,525,000 $43,059 $1,666 8.60%