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

LOUISVILLE, KY

LEI: 549300OHIEQGELZVJP60

Tax ID: 61-0508496

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

Jump to:

  • SimulatedRates™
  • Mortgage Calculator

    • Mortgage Data

  • Originations
  • 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 and Cash Out Refi 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 Bardstown among others. We have data for 27 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 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.

    Mortgage seekers: Choose your metro area here to explore the lowest fee & rate lenders.

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    SimulatedRates™

    Mortgage Type     		Simulated Rate Simulation Date
    30 Year Conventional Purchase 7.06% 4/21/24
    30 Year Conventional Refi 6.98% 4/21/24
    30 Year Cash-out Refi 7.07% 4/21/24
    15 Year Conventional Purchase 5.83% 4/21/24
    15 Year Conventional Refi 6.57% 4/21/24
    15 Year Cash-out Refi 6.57% 4/21/24
    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.

    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

    1,208

    Origination Dollar Volume (All Markets)

    $197,880,000
    Show all (6) awards

    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) 680 $122,960,000 $180,824 $2,036 4.38%
    London, KY (FHA|USDA|VA) 278 $36,740,000 $132,158 $1,956 4.43%
    CINCINNATI, OH-KY-IN (FHA|USDA|VA) 81 $11,725,000 $144,753 $2,153 4.40%
    Somerset, KY (FHA|USDA|VA) 50 $7,120,000 $142,400 $2,235 4.50%
    Outside of Metro Areas 46 $5,260,000 $114,348 $1,956 4.43%
    Bardstown, KY (FHA|USDA|VA) 18 $2,600,000 $144,444 $1,888 4.58%
    LEXINGTON-FAYETTE, KY (FHA|USDA|VA) 8 $2,290,000 $286,250 $2,016 4.63%
    ELIZABETHTOWN-FORT KNOX, KY (FHA|USDA|VA) 12 $1,950,000 $162,500 $2,049 4.43%
    INDIANAPOLIS-CARMEL-ANDERSON, IN (FHA|USDA|VA) 1 $1,525,000 $1,525,000 $4,406 4.00%
    Richmond-Berea, KY (FHA|USDA|VA) 4 $810,000 $202,500 $2,976 4.06%
    Frankfort, KY (FHA|USDA|VA) 5 $805,000 $161,000 $2,270 4.63%
    Danville, KY (FHA|USDA|VA) 5 $525,000 $105,000 $2,488 5.33%
    Scottsburg, IN (FHA|USDA|VA) 3 $495,000 $165,000 $1,497 4.58%
    NASHVILLE-DAVIDSON-MURFREESBORO-FRANKLIN, TN (FHA|USDA|VA) 2 $480,000 $240,000 $4,473 3.88%
    Madisonville, KY (FHA|USDA|VA) 1 $415,000 $415,000 $2,512 5.00%
    CRESTVIEW-FORT WALTON BEACH-DESTIN, FL (FHA|USDA|VA) 1 $365,000 $365,000 $2,298 3.88%
    BOWLING GREEN, KY (FHA|USDA|VA) 1 $305,000 $305,000 $2,669 3.75%
    Middlesborough, KY (FHA|USDA|VA) 2 $260,000 $130,000 $1,702 5.38%
    Sevierville, TN (FHA|USDA|VA) 1 $195,000 $195,000 $7,839 4.63%
    KNOXVILLE, TN (FHA|USDA|VA) 1 $185,000 $185,000 $3,386 3.00%
    EVANSVILLE, IN-KY (FHA|USDA|VA) 1 $175,000 $175,000 $2,395 5.00%
    COLUMBUS, OH (FHA|USDA|VA) 1 $175,000 $175,000 $1,510 3.88%
    Mount Sterling, KY (FHA|USDA|VA) 1 $145,000 $145,000 $3,855 4.00%
    BLOOMINGTON, IN (FHA|USDA|VA) 1 $125,000 $125,000 $1,508 4.63%
    Madison, IN (FHA|USDA|VA) 2 $110,000 $55,000 $1,655 4.63%
    Campbellsville, KY (FHA|USDA|VA) 1 $105,000 $105,000 $2,683 3.88%
    CLEVELAND-ELYRIA, OH (FHA|USDA|VA) 1 $35,000 $35,000 $2,394 4.50%
    L & N Federal Credit Union's top markets include Louisville, London, Cincinnati, Somerset, and Bardstown among others.

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

    The North Side Bank & Trust Company
    Similarity Rank: 55
    The Cecilian Bank
    Similarity Rank: 102
    CINFED Federal Credit Union
    Similarity Rank: 162
    Commercial Bank
    Similarity Rank: 220
    Kentucky Bank
    Similarity Rank: 252
    MORTGAGE SUPPLIERS, INC.
    Similarity Rank: 272
    Advanz Federal Credit Union
    Similarity Rank: 360
    The Peoples Bank
    Similarity Rank: 400
    COMMONWEALTH
    Similarity Rank: 480
    RIVER VALLEY CREDIT UNION, INC.
    Similarity Rank: 504

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 1,208 $197,880,000 $163,808 $2,047 4.41%

    For 2019, L & N Federal Credit Union's most frequently originated type of loan was Conventional, with 1,208 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 478 $80,460,000 $168,326 $2,164 4.82%
    Cash Out Refi 474 $72,940,000 $153,882 $2,028 4.20%
    Refi 236 $37,430,000 $158,602 $1,747 4.00%
    Other 19 $6,785,000 $357,105 $3,298 4.26%
    Home Improvement 1 $265,000 $265,000 $1,857 4.13%

    For 2019, L & N Federal Credit Union's most frequently cited loan purpose was Home Purchase, with 478 originations. The 2nd most popular reason was Cash Out Refi, with 474 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 950 $154,640,000 $162,779 $2,014 4.57%
    15 Year 146 $26,040,000 $178,356 $2,082 3.71%
    20 Year 47 $5,505,000 $117,128 $2,194 4.10%
    10 Year 40 $3,530,000 $88,250 $1,921 3.65%
    30+ year 20 $7,130,000 $356,500 $3,288 4.26%
    Other 5 $1,035,000 $207,000 $1,735 4.73%

    For 2019, L & N Federal Credit Union's most frequently cited loan duration was 30 Year, with 950 originations. The 2nd most popular length was 15 Year, with 146 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 1,035 $165,195,000 $159,609
    $1k-2k 98 $14,540,000 $148,367
    $2k-3k 37 $5,655,000 $152,838
    $3k-4k 18 $3,230,000 $179,444
    $4k-5k 3 $685,000 $228,333
    $5k+ 2 $420,000 $210,000

    L & N Federal Credit Union's average total fees were $2,014, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 1,035 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    4-5% 543 $94,725,000 $174,448
    3-4% 445 $71,355,000 $160,348
    5-6% 188 $27,530,000 $146,436
    6-7% 30 $3,790,000 $126,333
    2.5-3% 2 $480,000 $240,000

    During 2019, L & N Federal Credit Union's average interest rate for loans was 4.57%, while their most frequently originated rate bucket for loans was 4-5%, with 543 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100k-200k 563 $79,825,000 $141,785 $1,994 4.43%
    $100,000 or less 346 $24,170,000 $69,855 $1,768 4.44%
    $200k-400k 250 $65,770,000 $263,080 $2,396 4.35%
    $400k-600k 41 $18,855,000 $459,878 $2,908 4.20%
    $600k-1MM 5 $3,675,000 $735,000 $2,835 4.30%
    $1MM+ 3 $5,585,000 $1,861,667 $4,406 4.67%

    2019 saw L & N Federal Credit Union place emphasis on $100k-200k loans with 563 originations, totaling $79,825,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 303 $37,835,000 $124,868 $1,896 4.45%
    $50k or less 297 $28,935,000 $97,424 $1,746 4.59%
    $75k-100k 238 $36,510,000 $153,403 $2,083 4.39%
    $100k-150k 227 $47,175,000 $207,819 $2,307 4.28%
    $150k-250k 112 $31,250,000 $279,018 $2,461 4.16%
    $250k+ 31 $16,175,000 $521,774 $3,129 4.23%

    L & N Federal Credit Union lent most frequently to those with incomes in the $50k-75k range, with 303 originations. The second most popular income band? $50k or less, with 297 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 329 $50,495,000 $153,480 $2,028 4.34%
    30-36% 208 $35,980,000 $172,981 $2,189 4.51%
    <20% 182 $28,490,000 $156,538 $1,951 4.24%
    42% 35 $5,275,000 $150,714 $2,052 4.68%
    37% 35 $6,335,000 $181,000 $2,082 4.52%
    40% 33 $5,995,000 $181,667 $2,023 4.66%
    41% 33 $6,375,000 $193,182 $1,858 4.39%
    36% 32 $5,390,000 $168,438 $2,091 4.70%
    39% 30 $4,640,000 $154,667 $1,994 4.65%
    38% 28 $4,170,000 $148,929 $1,896 4.65%
    45% 6 $990,000 $165,000 $2,566 4.29%
    43% 6 $910,000 $151,667 $2,464 4.21%
    44% 6 $790,000 $131,667 $2,077 4.23%
    50-60% 4 $1,080,000 $270,000 $2,424 4.22%
    46% 3 $395,000 $131,667 $3,734 3.54%
    48% 3 $405,000 $135,000 $3,126 4.08%
    47% 2 $280,000 $140,000 $2,100 3.75%
    49% 1 $105,000 $105,000 $1,602 4.00%
    >60% 1 $145,000 $145,000 $3,597 4.25%

    L & N Federal Credit Union lent most frequently to those with DTI ratios of 20-30%, with 329 originations. The next most common DTI ratio? 30-36%, with 208 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 1,086 $172,070,000 $158,444 $2,043 4.40%
    Not provided 50 $15,020,000 $300,400 $2,141 4.32%
    Black 60 $8,740,000 $145,667 $2,004 4.71%
    Asian 5 $1,045,000 $209,000 $2,240 3.75%
    Native Hawaiian or Islander 3 $425,000 $141,667 $1,687 4.21%
    American Indian 3 $355,000 $118,333 $2,816 5.08%
    Other Asian 1 $225,000 $225,000 $2,357 4.88%

    Approval Rates

    Total approvals of all applications
    94.67%

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

    Pick Rate

    Approvals leading to origination
    88.33%

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

    Points and Fees

    Points Originations Total Value Average Loan
    NA 1,208 $197,880,000 $163,808

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Single Family (1-4 Units):Manufactured 27 $2,105,000 $77,963
    Single Family (1-4 Units):Site-Built 1,181 $195,775,000 $165,771

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 70 $7,140,000 $102,000 $1,763 4.05%
    40-60% 109 $14,245,000 $130,688 $1,828 4.03%
    60-80% 395 $65,595,000 $166,063 $2,267 4.07%
    80-100% 623 $110,405,000 $177,215 $1,986 4.74%
    Under 20% 10 $370,000 $37,000 $1,568 3.95%