1st Liberty Fcu Mortgage Rates, Fees & Info
Great Falls, MTLEI: 549300SQW7KBZFSQK518
Tax ID: 81-0257864
Latest/2024 | 2023 Data | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data
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Mortgage Data
Review & Overview
1st Liberty Fcu is a smaller credit union specializing in Cash Out Refi and Home Purchase loans. 1st Liberty Fcu has a high proportion of conventional loans. Their top (well, only) market is Great Falls.1st Liberty Fcu 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.
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Originations
12Origination Dollar Volume (All Markets)
$1,200,000Top 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 |
|---|---|---|---|---|---|
| GREAT FALLS, MT (FHA|USDA|VA) | 11 | $1,155,000 | $105,000 | $3,135 | 6.06% |
| Outside of Metro Areas | 1 | $45,000 | $45,000 | $1,289 | 6.24% |
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 12 | $1,200,000 | $100,000 | $2,981 | 6.08% |
For 2024, 1st Liberty Fcu's most frequently originated type of loan was Conventional, with 12 originations.
Loan Reason
| Loan Reason | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Cash Out Refi | 9 | $535,000 | $59,444 | $1,879 | 5.86% |
| Home Purchase | 3 | $665,000 | $221,667 | $6,288 | 6.74% |
For 2024, 1st Liberty Fcu's most frequently cited loan purpose was Cash Out Refi, with 9 originations. The 2nd most popular reason was Home Purchase, with 3 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| 10 Year | 7 | $385,000 | $55,000 | $1,474 | 5.85% |
| 20 Year | 3 | $685,000 | $228,333 | $6,848 | 6.99% |
| Other | 2 | $130,000 | $65,000 | $2,458 | 5.49% |
For 2024, 1st Liberty Fcu's most frequently cited loan duration was 10 Year, with 7 originations. The 2nd most popular length was 20 Year, with 3 originations.
Origination Fees/Closing Costs
| Origination Fee/Closing Cost | Originations | Total Value | Average Loan |
|---|---|---|---|
| $<1k | 5 | $345,000 | $69,000 |
| $1k-2k | 1 | $105,000 | $105,000 |
| $2k-3k | 1 | $275,000 | $275,000 |
| $3k-4k | 1 | $345,000 | $345,000 |
1st Liberty Fcu's average total fees were $0, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 5 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 6-7% | 9 | $1,005,000 | $111,667 |
| 3-4% | 1 | $65,000 | $65,000 |
| 4-5% | 1 | $25,000 | $25,000 |
| 5-6% | 1 | $105,000 | $105,000 |
During 2024, 1st Liberty Fcu's average interest rate for loans was 0.00%, while their most frequently originated rate bucket for loans was 6-7%, with 9 originations.
Loan Sizing
2024 saw 1st Liberty Fcu place emphasis on $100,000 or less loans with 9 originations, totaling $475,000 in origination value.
Applicant Income
1st Liberty Fcu lent most frequently to those with incomes in the $50k-75k range, with 5 originations. The second most popular income band? $50k or less, with 3 originations.
Applicant Debt to Income Ratio
1st Liberty Fcu lent most frequently to those with DTI ratios of <20%, with 4 originations. The next most common DTI ratio? 20-30%, with 3 originations.
Ethnicity Mix
| Applicant Ethnicity | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| White | 12 | $1,200,000 | $100,000 | $2,981 | 6.08% |
Approval Rates
Total approvals of all applications100.00%
1st Liberty Fcu has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.
Pick Rate
Approvals leading to origination83.33%
1st Liberty Fcu has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 12 | $1,200,000 | $100,000 |