Local Government Federal Credit Union Mortgage Rates, Fees & Info
Raleigh, NCLEI: 549300SJTLYB6ZWKPR88
Tax ID: 56-1362282
Latest/2021 | 2020 Data | 2019 Data | 2018 Data
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Mortgage Data
Review & 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 by origination volume include: Charlotte, Raleigh, Asheville, Winston, and Greensboro among others. We have data for 64 markets. (Some data included below & more in-depth data is available with an active subscription.)Local Government Federal 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. Local Government Federal 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.
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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| Home Equity Line of Credit (HELOC) | 6.14% | 3/19/23 |
| 30 Year Conventional Purchase | 7.12% | 3/19/23 |
| 30 Year Conventional Refi | 6.67% | 3/19/23 |
| 15 Year Conventional Purchase | 6.71% | 3/19/23 |
| 15 Year Conventional Refi | 6.61% | 3/19/23 |
| 15 Year Cash-out Refi | 6.61% | 3/19/23 |
| 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. | ||
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 mortgage rate was
3.32%.
The 2021 average 30 year fixed rate mortgage across all markets and lenders was 3.15%.
This yields a difference of 0.17%.
Relative Fees (Closing Costs)
Local Government Federal Credit Union's average total fees/closing costs for a 30 year fixed rate
mortgage were $3,779.
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 $4,750.
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 |
|---|---|---|---|---|---|
| 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% |
Similar Lenders
We use machine learning to identify the top lenders compared against LOCAL GOVERNMENT FEDERAL CREDIT UNION based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.
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Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 4,472 | $799,520,000 | $178,784 | $3,462 | 3.25% |
| HELOC | 1,335 | $74,535,000 | $55,831 | n/a | 2.75% |
For 2021, Local Government Federal Credit Union's most frequently originated type of loan was Conventional, with 4,472 originations. Their 2nd most popular type was HELOC, with 1,335 originations.
Loan Reason
For 2021, Local Government Federal Credit Union's most frequently cited loan purpose was Refi, with 2,574 originations. The 2nd most popular reason was Home Purchase, with 2,003 originations.
Loan Duration/Length
For 2021, Local Government Federal Credit Union's most frequently cited loan duration was 30 Year, with 2,598 originations. The 2nd most popular length was Other, with 1,359 originations.
Origination Fees/Closing Costs
Local Government Federal Credit Union's average total fees were $3,779, while their most frequently occuring range of origination fees (closing costs) 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 for loans was 3.32%, while their most frequently originated rate bucket for loans was 3-4%, with 2,977 originations.
Loan Sizing
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
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
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
Approval Rates
Total approvals of all applications85.55%
Local Government Federal Credit Union has an average approval rate.
Pick Rate
Approvals leading to origination82.54%
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 |