First City Credit Union Mortgage Rates, Fees & Info

LOS ANGELES, CA

LEI: 549300S1ULK3TJQ8I652

Tax ID: 95-1679662

5 stars - Updated: 4/5/25

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

Review & Overview

First City Credit Union is a smaller credit union specializing in Other, Home Improvement, and Home Purchase loans. First City Credit Union has a high proportion of conventional loans. Their top markets by origination volume include: Los Angeles, Riverside, and Bakersfield among others. We have data for 3 markets. (Some data included below & more in-depth data is available with an active subscription.)

First City Credit Union 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. First City Credit Union is typically an average 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	6.67%	4/5/25
30 Year Conventional Refi	6.76%	4/5/25
30 Year Cash-out Refi	6.10%	4/5/25
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.

First City 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

116

Origination Dollar Volume (All Markets)

$14,640,000

Relative Rate

First City Credit Union's average 30 year fixed mortgage rate was 6.13%.

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

This yields a difference of -0.43%.

Relative Fees (Closing Costs)

First City Credit Union's average total fees/closing costs for a 30 year fixed rate mortgage were $7,747.

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
Los Angeles-Long Beach-Anaheim, CA (FHA\|USDA\|VA)	81	$10,235,000	$126,358	$1,324	8.20%
RIVERSIDE-SAN BERNARDINO-ONTARIO, CA (FHA\|USDA\|VA)	32	$4,190,000	$130,938	$1,018	8.24%
BAKERSFIELD, CA (FHA\|USDA\|VA)	3	$215,000	$71,667	$657	8.42%

First City Credit Union's top markets include Los Angeles, Riverside, and Bakersfield among others.

Their top states include:

California (FHA|USDA|VA)

Similar Lenders

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

Los Angeles Federal Credit Union
Similarity Rank: 42

SOUTHLAND CREDIT UNION
Similarity Rank: 216

LBS FINANCIAL
Similarity Rank: 348

CERTIFIED
Similarity Rank: 354

FIRST ENTERTAINMENT
Similarity Rank: 516

LA Financial Federal Credit Union
Similarity Rank: 535

FOOTHILL FEDERAL CREDIT UNION
Similarity Rank: 546

Water and Power Community Credit Union
Similarity Rank: 576

USC Credit Union
Similarity Rank: 600

CALIFORNIA CREDIT UNION
Similarity Rank: 864

Product Mix

Loan Type	Originations	Total Value	Avg. Loan	Avg. Fees	Avg. Rate
Conventional	116	$14,640,000	$126,207	$1,225	8.22%

For 2024, First City Credit Union's most frequently originated type of loan was Conventional, with 116 originations.

Loan Reason

Loan Reason	Originations	Total Value	Avg. Loan	Avg. Fees	Avg. Rate
Other	48	$4,180,000	$87,083	$666	8.42%
Home Improvement	46	$4,770,000	$103,696	$650	8.36%
Cash Out Refi	12	$2,000,000	$166,667	$1,513	8.08%
Home Purchase	6	$3,070,000	$511,667	$8,805	6.04%
Refi	4	$620,000	$155,000	$2,106	7.72%

For 2024, First City Credit Union's most frequently cited loan purpose was Other, with 48 originations. The 2nd most popular reason was Home Improvement, with 46 originations.

Loan Duration/Length

Loan Length	Originations	Total Value	Average Loan	Average Fees	Average Rate
20 Year	62	$7,540,000	$121,613	$777	8.59%
10 Year	21	$1,555,000	$74,048	$657	8.00%
15 Year	16	$1,550,000	$96,875	$673	8.31%
30 Year	8	$3,430,000	$428,750	$7,747	6.13%
5 Year	6	$370,000	$61,667	$695	7.71%
Other	3	$195,000	$65,000	$628	8.13%

For 2024, First City Credit Union's most frequently cited loan duration was 20 Year, with 62 originations. The 2nd most popular length was 10 Year, with 21 originations.

Origination Fees/Closing Costs

Origination Fee/Closing Cost	Originations	Total Value	Average Loan
$<1k	106	$11,100,000	$104,717
$5k+	3	$1,425,000	$475,000
$1k-2k	1	$105,000	$105,000
$2k-3k	1	$575,000	$575,000
$3k-4k	1	$255,000	$255,000
$4k-5k	1	$585,000	$585,000

First City Credit Union's average total fees were $7,747, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 106 originations.

Interest Rates

Loan Rate	Originations	Total Value	Average Loan
Over 8%	78	$8,460,000	$108,462
7-8%	29	$2,165,000	$74,655
6-7%	6	$2,370,000	$395,000
5-6%	3	$1,645,000	$548,333

During 2024, First City Credit Union's average interest rate for loans was 6.13%, while their most frequently originated rate bucket for loans was Over 8%, with 78 originations.

Loan Sizing

Loan Size	Originations	Total Value	Average Loan	Average Fees	Average Rate
$100,000 or less	63	$3,745,000	$59,444	$653	8.35%
$100k-200k	38	$4,810,000	$126,579	$723	8.38%
$400k-600k	8	$4,060,000	$507,500	$7,566	6.42%
$200k-400k	7	$2,025,000	$289,286	$1,778	8.20%

2024 saw First City Credit Union place emphasis on $100,000 or less loans with 63 originations, totaling $3,745,000 in origination value.

Applicant Income

Applicant Income	Originations	Total Value	Average Loan	Average Fees	Average Rate
$100k-150k	45	$6,605,000	$146,778	$1,786	8.08%
$150k-250k	28	$3,440,000	$122,857	$875	8.22%
$75k-100k	18	$1,280,000	$71,111	$643	8.44%
$50k-75k	14	$1,000,000	$71,429	$870	8.29%
$250k+	9	$1,695,000	$188,333	$727	8.42%
$50k or less	2	$620,000	$310,000	$3,405	7.69%

First City Credit Union lent most frequently to those with incomes in the $100k-150k range, with 45 originations. The second most popular income band? $150k-250k, with 28 originations.

Applicant Debt to Income Ratio

DTI Ratio	Originations	Total Value	Average Loan	Average Fees	Average Rate
30-36%	21	$2,495,000	$118,810	$1,069	8.33%
44%	14	$2,400,000	$171,429	$2,525	7.96%
20-30%	12	$1,100,000	$91,667	$679	8.31%
49%	9	$845,000	$93,889	$640	8.33%
42%	8	$2,030,000	$253,750	$3,349	7.34%
39%	6	$570,000	$95,000	$687	8.48%
41%	6	$420,000	$70,000	$670	8.25%
45%	6	$610,000	$101,667	$681	8.33%
37%	5	$435,000	$87,000	$613	8.65%
40%	5	$835,000	$167,000	$1,623	8.23%
48%	5	$375,000	$75,000	$655	8.50%
47%	4	$700,000	$175,000	$1,364	7.78%
38%	4	$890,000	$222,500	$732	8.63%
43%	4	$300,000	$75,000	$604	8.25%
46%	4	$340,000	$85,000	$690	8.00%
36%	2	$110,000	$55,000	$710	8.38%
50-60%	1	$185,000	$185,000	$716	8.50%

First City Credit Union lent most frequently to those with DTI ratios of 30-36%, with 21 originations. The next most common DTI ratio? 44%, with 14 originations.

Ethnicity Mix

Applicant Ethnicity	Originations	Total Value	Average Loan	Average Fees	Average Rate
Not provided	50	$6,100,000	$122,000	$933	8.21%
White	31	$3,375,000	$108,871	$1,131	8.33%
Black	23	$2,855,000	$124,130	$1,624	8.23%
Asian	8	$1,760,000	$220,000	$2,876	7.58%
Filipino	2	$220,000	$110,000	$616	8.75%
Other Asian	1	$205,000	$205,000	$591	8.50%
American Indian	1	$125,000	$125,000	$645	8.25%

Approval Rates

Total approvals of all applications
74.06%

First City Credit Union has a below average approval rate.

Pick Rate

Approvals leading to origination
68.10%

First City Credit Union has a low pick rate. They may have issues with closing loans or may approve everyone, but with onerous loan terms.

Points and Fees

Points	Originations	Total Value	Average Loan
NA	116	$14,640,000	$126,207

Occupancy Type Mix

Dwelling Type	Originations	Total Value	Average Loan
	116	$14,640,000	$126,207

LTV Distribution

Loan to Value	Originations	Total Value	Average Loan	Average Fees	Average Rate
20-40%	16	$3,570,000	$223,125	$1,149	8.42%
40-60%	2	$630,000	$315,000	$5,991	7.44%
60-80%	2	$980,000	$490,000	$11,974	6.06%
80-100%	3	$1,645,000	$548,333	$5,908	5.92%
Under 20%	93	$7,815,000	$84,032	$742	8.32%