Local Government Federal Credit Union Mortgage Rates, Fees & Info
Raleigh, NCLEI: 549300SJTLYB6ZWKPR88
Tax ID: 56-1362282
2021 Data | 2020 Data | 2019 Data | 2018 Data
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Mortgage Data
Overview
Local Government Federal Credit Union is a smaller credit union specializing in Refi and Home Purchase loans. Local Government Federal Credit Union has a high proportion of conventional loans. Their top markets include Charlotte, Raleigh, Asheville, Winston, and Greensboro among others. Local Government Federal Credit Union has an average approval rate for mortages when compared nationally. They have a below average pick rate when compared to the same sample of other lendors. Local Government Federal Credit Union is typically an average fee lendor.Originations
5,807Origination Dollar Volume (All Markets)
$874,055,000Awards
LOCAL GOVERNMENT FEDERAL CREDIT UNION - 2021
LOCAL GOVERNMENT FEDERAL CREDIT UNION is a 2021 , due to their low .
For 2021, less than of lenders were eligible for this award.
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Relative Rate
Local Government Federal Credit Union's average 30 year fixed rate mortgage of loans were
3.32%.
The 2021 average 30 year fixed rate mortgage across all markets of loans were 3.15%.
This yields a difference of 0.17%.
Relative Fees
Local Government Federal Credit Union's average total fees for a 30 year fixed rate
mortgage are $3,779.
The average total origination fees for 30 year fixed rate mortgages (for all loan values, including
both points & up-front fees in addition to origination fees) are $4,750.
Top Markets
| Market | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| CHARLOTTE-CONCORD-GASTONIA, NC-SC (FHA|USDA|VA) | 1,023 | $168,645,000 | $164,853 | $3,636 | 3.11% |
| RALEIGH-CARY, NC (FHA|USDA|VA) | 512 | $93,220,000 | $182,070 | $3,851 | 3.09% |
| Outside of Metro Areas | 490 | $63,960,000 | $130,531 | $3,259 | 3.18% |
| ASHEVILLE, NC (FHA|USDA|VA) | 289 | $51,745,000 | $179,048 | $3,851 | 3.13% |
| WINSTON-SALEM, NC (FHA|USDA|VA) | 366 | $50,440,000 | $137,814 | $3,263 | 3.14% |
| GREENSBORO-HIGH POINT, NC (FHA|USDA|VA) | 327 | $44,295,000 | $135,459 | $3,255 | 3.14% |
| HICKORY-LENOIR-MORGANTON, NC (FHA|USDA|VA) | 354 | $43,150,000 | $121,893 | $3,075 | 3.11% |
| DURHAM-CHAPEL HILL, NC (FHA|USDA|VA) | 188 | $31,850,000 | $169,415 | $3,766 | 3.08% |
| GREENVILLE, NC (FHA|USDA|VA) | 197 | $26,055,000 | $132,259 | $3,186 | 3.19% |
| MYRTLE BEACH-CONWAY-NORTH MYRTLE BEACH, SC-NC (FHA|USDA|VA) | 141 | $24,595,000 | $174,433 | $3,695 | 3.10% |
| FAYETTEVILLE, NC (FHA|USDA|VA) | 132 | $19,850,000 | $150,379 | $3,653 | 3.13% |
| Albemarle, NC (FHA|USDA|VA) | 121 | $18,775,000 | $155,165 | $3,491 | 3.28% |
| ROCKY MOUNT, NC (FHA|USDA|VA) | 143 | $18,425,000 | $128,846 | $3,159 | 3.22% |
| WILMINGTON, NC (FHA|USDA|VA) | 125 | $17,985,000 | $143,880 | $3,720 | 3.08% |
| Kill Devil Hills, NC (FHA|USDA|VA) | 81 | $17,515,000 | $216,235 | $4,132 | 3.11% |
| Forest City, NC (FHA|USDA|VA) | 114 | $14,610,000 | $128,158 | $3,194 | 3.15% |
| BURLINGTON, NC (FHA|USDA|VA) | 87 | $14,465,000 | $166,264 | $3,631 | 3.13% |
| GOLDSBORO, NC (FHA|USDA|VA) | 83 | $12,175,000 | $146,687 | $3,376 | 3.22% |
| North Wilkesboro, NC (FHA|USDA|VA) | 87 | $12,175,000 | $139,943 | $3,151 | 3.15% |
| Shelby, NC (FHA|USDA|VA) | 81 | $10,575,000 | $130,556 | $3,294 | 3.12% |
| NEW BERN, NC (FHA|USDA|VA) | 68 | $8,920,000 | $131,176 | $3,114 | 3.22% |
| Mount Airy, NC (FHA|USDA|VA) | 80 | $8,450,000 | $105,625 | $2,714 | 3.08% |
| Wilson, NC (FHA|USDA|VA) | 55 | $8,295,000 | $150,818 | $3,373 | 3.27% |
| Morehead City, NC (FHA|USDA|VA) | 50 | $7,470,000 | $149,400 | $3,604 | 3.11% |
| JACKSONVILLE, NC (FHA|USDA|VA) | 40 | $6,790,000 | $169,750 | $3,627 | 3.28% |
| VIRGINIA BEACH-NORFOLK-NEWPORT NEWS, VA-NC (FHA|USDA|VA) | 44 | $6,580,000 | $149,545 | $3,789 | 3.08% |
| Washington, NC (FHA|USDA|VA) | 55 | $6,405,000 | $116,455 | $3,217 | 3.05% |
| Cullowhee, NC (FHA|USDA|VA) | 34 | $6,080,000 | $178,824 | $3,945 | 3.15% |
| Marion, NC (FHA|USDA|VA) | 35 | $5,455,000 | $155,857 | $3,470 | 3.20% |
| Pinehurst-Southern Pines, NC (FHA|USDA|VA) | 52 | $5,430,000 | $104,423 | $2,893 | 3.07% |
| Elizabeth City, NC (FHA|USDA|VA) | 34 | $5,110,000 | $150,294 | $3,499 | 3.18% |
| Kinston, NC (FHA|USDA|VA) | 42 | $4,970,000 | $118,333 | $3,161 | 3.17% |
| Boone, NC (FHA|USDA|VA) | 21 | $4,175,000 | $198,810 | $3,864 | 3.15% |
| Henderson, NC (FHA|USDA|VA) | 29 | $3,955,000 | $136,379 | $3,265 | 3.29% |
| Sanford, NC (FHA|USDA|VA) | 30 | $3,920,000 | $130,667 | $3,259 | 3.06% |
| Brevard, NC (FHA|USDA|VA) | 22 | $3,150,000 | $143,182 | $3,561 | 3.05% |
| Rockingham, NC (FHA|USDA|VA) | 32 | $3,140,000 | $98,125 | $2,884 | 3.42% |
| Roanoke Rapids, NC (FHA|USDA|VA) | 27 | $3,075,000 | $113,889 | $3,091 | 3.25% |
| Lumberton, NC (FHA|USDA|VA) | 26 | $2,510,000 | $96,538 | $2,834 | 3.11% |
| Laurinburg, NC (FHA|USDA|VA) | 23 | $2,305,000 | $100,217 | $2,732 | 3.20% |
| SPARTANBURG, SC (FHA|USDA|VA) | 11 | $2,205,000 | $200,455 | $4,044 | 3.17% |
| ATLANTA-SANDY SPRINGS-ALPHARETTA, GA (FHA|USDA|VA) | 7 | $2,075,000 | $296,429 | $5,211 | 3.22% |
| GREENVILLE-ANDERSON, SC (FHA|USDA|VA) | 8 | $1,850,000 | $231,250 | $4,185 | 3.52% |
| CHARLESTON-NORTH CHARLESTON, SC (FHA|USDA|VA) | 5 | $1,415,000 | $283,000 | $4,617 | 3.29% |
| RICHMOND, VA (FHA|USDA|VA) | 2 | $770,000 | $385,000 | $5,048 | 3.10% |
| JOHNSON CITY, TN (FHA|USDA|VA) | 4 | $760,000 | $190,000 | $3,914 | 3.19% |
| COLUMBIA, SC (FHA|USDA|VA) | 3 | $655,000 | $218,333 | $4,013 | 3.49% |
| Danville, VA (FHA|USDA|VA) | 5 | $655,000 | $131,000 | $3,599 | 3.18% |
| Martinsville, VA (FHA|USDA|VA) | 4 | $420,000 | $105,000 | $2,660 | 3.15% |
| Washington-Arlington-Alexandria, DC-VA-MD-WV (FHA|USDA|VA) | 1 | $385,000 | $385,000 | $4,967 | 4.38% |
| NASHVILLE-DAVIDSON--MURFREESBORO--FRANKLIN, TN (FHA|USDA|VA) | 1 | $315,000 | $315,000 | $5,572 | 3.25% |
| WINCHESTER, VA-WV (FHA|USDA|VA) | 1 | $295,000 | $295,000 | $5,599 | 2.75% |
| CLEVELAND, TN (FHA|USDA|VA) | 2 | $260,000 | $130,000 | $3,379 | 3.05% |
| KNOXVILLE, TN (FHA|USDA|VA) | 1 | $215,000 | $215,000 | $4,197 | 3.15% |
| Orangeburg, SC (FHA|USDA|VA) | 2 | $190,000 | $95,000 | $2,674 | 3.38% |
| MORRISTOWN, TN (FHA|USDA|VA) | 1 | $165,000 | $165,000 | $3,125 | 3.15% |
| Crossville, TN (FHA|USDA|VA) | 1 | $135,000 | $135,000 | $3,014 | 3.15% |
| Greenwood, SC (FHA|USDA|VA) | 2 | $120,000 | $60,000 | $2,278 | 3.00% |
| SAVANNAH, GA (FHA|USDA|VA) | 1 | $115,000 | $115,000 | $2,716 | 3.50% |
| FLORENCE, SC (FHA|USDA|VA) | 1 | $105,000 | $105,000 | $0 | 3.38% |
| KINGSPORT-BRISTOL, TN-VA (FHA|USDA|VA) | 1 | $85,000 | $85,000 | $2,200 | 3.15% |
| Greeneville, TN (FHA|USDA|VA) | 1 | $75,000 | $75,000 | $2,113 | 3.75% |
| BLACKSBURG-CHRISTIANSBURG, VA (FHA|USDA|VA) | 1 | $65,000 | $65,000 | $0 | 2.75% |
| Bennettsville, SC (FHA|USDA|VA) | 1 | $35,000 | $35,000 | $0 | 2.75% |
Local Government Federal Credit Union's top markets include Charlotte, Raleigh, Asheville, Winston, and Greensboro among others.
Product Mix
| Loan Type | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Conventional | 5,807 | $874,055,000 | $150,517 | $3,462 | 3.14% |
For the 2021 period, Local Government Federal Credit Union's most frequently originated loan type of loans were Conventional, with 5,807 originations.
Loan Reason
| Loan Reason | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Refi | 2,574 | $429,450,000 | $166,841 | $3,329 | 3.13% |
| Home Purchase | 2,003 | $375,535,000 | $187,486 | $3,653 | 3.36% |
| Home Improvement | 652 | $36,820,000 | $56,472 | $2,914 | 2.78% |
| Other | 578 | $32,250,000 | $55,796 | $2,827 | 2.78% |
For the 2021, Local Government Federal Credit Union's most frequently cited loan purpose of loans were Refi, with 2,574 originations. The 2nd most popular reason of loans were Home Purchase, with 2,003 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| 30 Year | 2,598 | $531,450,000 | $204,561 | $3,779 | 3.32% |
| Other | 1,359 | $80,595,000 | $59,305 | $4,236 | 2.76% |
| 20 Year | 827 | $134,875,000 | $163,089 | $3,167 | 3.25% |
| 15 Year | 752 | $84,080,000 | $111,809 | $2,665 | 3.12% |
| 10 Year | 185 | $16,565,000 | $89,541 | $2,233 | 2.84% |
| 30+ year | 86 | $26,490,000 | $308,023 | $5,407 | 3.28% |
For the 2021, Local Government Federal Credit Union's most frequently cited loan length of loans were 30 Year, with 2,598 originations. The 2nd most popular length of loans were Other, with 1,359 originations.
Origination Fees
| Origination Fee | Originations | Total Value | Average Loan |
|---|---|---|---|
| $1k-2k | 1,594 | $219,270,000 | $137,560 |
| $2k-3k | 1,410 | $315,740,000 | $223,929 |
| $3k-4k | 806 | $200,820,000 | $249,156 |
| $<1k | 560 | $42,260,000 | $75,464 |
| $5k+ | 31 | $15,085,000 | $486,613 |
$3,779 of loans were Local Government Federal Credit Union's average total fees, while their most frequently occuring range of origination fees were in the $1k-2k bucket, with 1,594 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 3-4% | 2,977 | $568,695,000 | $191,030 |
| 2.5-3% | 2,601 | $266,105,000 | $102,309 |
| 4-5% | 229 | $39,255,000 | $171,419 |
During 2021, Local Government Federal Credit Union's average interest rate of loans were 3.32%, while their most frequently originated rate bucket of loans were 3-4%, with 2,977 originations.
Loan Sizing
| Loan Size | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| $100k-200k | 2,202 | $321,900,000 | $146,185 | $3,151 | 3.25% |
| $100,000 or less | 2,066 | $117,740,000 | $56,989 | $2,212 | 2.93% |
| $200k-400k | 1,423 | $378,185,000 | $265,766 | $4,503 | 3.26% |
| $400k-600k | 100 | $44,460,000 | $444,600 | $5,394 | 3.23% |
| $600k-1MM | 15 | $10,515,000 | $701,000 | $5,686 | 3.21% |
| $1MM+ | 1 | $1,255,000 | $1,255,000 | $5,787 | 3.25% |
2021 saw Local Government Federal Credit Union place emphasis on $100k-200k loans with 2,202 originations, totaling $321,900,000 in origination value.
Applicant Income
| Applicant Income | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| $50k-75k | 1,667 | $229,545,000 | $137,699 | $3,308 | 3.16% |
| $50k or less | 1,268 | $134,820,000 | $106,325 | $2,829 | 3.20% |
| $75k-100k | 1,229 | $200,675,000 | $163,283 | $3,689 | 3.14% |
| $100k-150k | 1,140 | $203,400,000 | $178,421 | $3,964 | 3.08% |
| $150k-250k | 420 | $83,630,000 | $199,119 | $4,364 | 3.02% |
| $250k+ | 71 | $19,695,000 | $277,394 | $4,870 | 2.97% |
Local Government Federal Credit Union lent most frequently to those with incomes in the $50k-75k range, with 1,667 originations. The second most popular income band? $50k or less, with 1,268 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| 20-30% | 1,639 | $244,065,000 | $148,911 | $3,384 | 3.15% |
| 30-36% | 1,293 | $203,365,000 | $157,282 | $3,542 | 3.16% |
| <20% | 664 | $80,360,000 | $121,024 | $2,973 | 3.07% |
| 42% | 282 | $38,660,000 | $137,092 | $3,634 | 3.07% |
| 41% | 261 | $41,475,000 | $158,908 | $3,725 | 3.12% |
| 40% | 256 | $40,030,000 | $156,367 | $3,643 | 3.14% |
| 37% | 228 | $36,310,000 | $159,254 | $3,528 | 3.17% |
| 38% | 218 | $32,640,000 | $149,725 | $3,462 | 3.19% |
| 36% | 210 | $34,590,000 | $164,714 | $3,671 | 3.14% |
| 39% | 204 | $30,870,000 | $151,324 | $3,690 | 3.11% |
| 43% | 114 | $18,600,000 | $163,158 | $3,644 | 3.17% |
| 44% | 95 | $15,645,000 | $164,684 | $3,697 | 3.23% |
| 45% | 69 | $12,005,000 | $173,986 | $3,742 | 3.17% |
| 50-60% | 65 | $13,165,000 | $202,538 | $3,658 | 3.21% |
| 46% | 51 | $7,105,000 | $139,314 | $3,626 | 3.08% |
| 49% | 45 | $6,735,000 | $149,667 | $3,848 | 3.05% |
| 47% | 44 | $6,080,000 | $138,182 | $3,561 | 3.03% |
| 48% | 40 | $7,280,000 | $182,000 | $3,830 | 3.18% |
| >60% | 28 | $5,050,000 | $180,357 | $3,346 | 3.08% |
Local Government Federal Credit Union lent most frequently to those with DTI ratios of 20-30%, with 1,639 originations. The next most common DTI ratio? 30-36%, with 1,293 originations.
Ethnicity Mix
| Applicant Ethnicity | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| White | 4,304 | $635,000,000 | $147,537 | $3,431 | 3.13% |
| Black | 965 | $151,065,000 | $156,544 | $3,538 | 3.18% |
| Not provided | 432 | $72,310,000 | $167,384 | $3,600 | 3.15% |
| American Indian | 58 | $7,790,000 | $134,310 | $3,252 | 3.07% |
| Asian | 22 | $3,950,000 | $179,545 | $3,608 | 3.29% |
| Other Pacific Islander | 9 | $1,865,000 | $207,222 | $3,762 | 3.10% |
| Native Hawaiian | 8 | $1,260,000 | $157,500 | $3,599 | 3.28% |
| Other Asian | 4 | $400,000 | $100,000 | $4,818 | 2.88% |
| Asian Indian | 3 | $285,000 | $95,000 | $3,038 | 2.88% |
| Native Hawiian | 1 | $95,000 | $95,000 | $0 | 2.75% |
| Samoan | 1 | $35,000 | $35,000 | $0 | 2.75% |
Approval Rates
Total approvals of all applications84.88%
Local Government Federal Credit Union has a below average approval rate.
Pick Rate
Approvals leading to origination81.67%
Local Government Federal Credit Union has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 5,807 | $874,055,000 | $150,517 |
Occupancy Type Mix
| Dwelling Type | Originations | Total Value | Average Loan |
|---|---|---|---|
| 5,807 | $874,055,000 | $150,517 |
LTV Distribution
| Loan to Value | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| 20-40% | 632 | $46,090,000 | $72,927 | $2,164 | 2.83% |
| 40-60% | 721 | $90,005,000 | $124,834 | $2,784 | 3.06% |
| 60-80% | 1,260 | $228,680,000 | $181,492 | $3,497 | 3.16% |
| 80-100% | 2,302 | $461,100,000 | $200,304 | $3,752 | 3.36% |
| Over 100% | 101 | $16,695,000 | $165,297 | $3,397 | 3.43% |
| Under 20% | 791 | $31,485,000 | $39,804 | $2,018 | 2.75% |
