Lafayette Federal Credit Union Mortgage Rates, Fees & Info
Rockville, MDLEI: 549300SY0ZRUCS4CSY07
Tax ID: 53-0197895
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Mortgage Data
Review & Overview
Lafayette Federal Credit Union is a smaller credit union specializing in Other and Home Purchase loans. Lafayette Federal Credit Union has a high proportion of conventional loans. Their top markets by origination volume include: Washington, Baltimore, New York, Tampa, and Salisbury among others. We have data for 69 markets. (Some data included below & more in-depth data is available with an active subscription.)Lafayette 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. Lafayette Federal Credit Union is typically a high 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 relatively high 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) | 6.27% | 11/21/24 |
| 30 Year Conventional Purchase | 6.29% | 11/21/24 |
| 30 Year Conventional Refi | 6.10% | 11/21/24 |
| 30 Year Cash-out Refi | 6.43% | 11/21/24 |
| 15 Year Conventional Purchase | 5.88% | 11/21/24 |
| 15 Year Conventional Refi | 5.85% | 11/21/24 |
| 15 Year Cash-out Refi | 5.85% | 11/21/24 |
| 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. | ||
Lafayette Federal Credit Union Mortgage Calculator
Your Estimates
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
284Origination Dollar Volume (All Markets)
$63,310,000Awards
LAFAYETTE FEDERAL CREDIT UNION - 2022
LAFAYETTE FEDERAL CREDIT UNION is a 2022 , due to their low .
For 2022, less than of lenders were eligible for this award.
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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 |
|---|---|---|---|---|---|
| Washington-Arlington-Alexandria, DC-VA-MD-WV (FHA|USDA|VA) | 111 | $34,385,000 | $309,775 | $26,375 | 4.64% |
| BALTIMORE-COLUMBIA-TOWSON, MD (FHA|USDA|VA) | 17 | $2,915,000 | $171,471 | $13,112 | 4.60% |
| New York-Newark-Jersey City, NY-NJ-PA (FHA|USDA|VA) | 11 | $1,985,000 | $180,455 | $31,023 | 5.33% |
| TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) | 10 | $1,600,000 | $160,000 | $1,969 | 5.35% |
| SALISBURY, MD-DE (FHA|USDA|VA) | 5 | $1,425,000 | $285,000 | $43,634 | 4.85% |
| ATLANTA-SANDY SPRINGS-ALPHARETTA, GA (FHA|USDA|VA) | 8 | $1,370,000 | $171,250 | $7,525 | 5.09% |
| PHOENIX-MESA-CHANDLER, AZ (FHA|USDA|VA) | 10 | $1,120,000 | $112,000 | $1,531 | 5.39% |
| Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) | 7 | $1,055,000 | $150,714 | $3,752 | 4.86% |
| SACRAMENTO-ROSEVILLE-FOLSOM, CA (FHA|USDA|VA) | 3 | $915,000 | $305,000 | $69,789 | 5.33% |
| Chicago-Naperville-Elgin, IL-IN-WI (FHA|USDA|VA) | 8 | $870,000 | $108,750 | $1,615 | 4.78% |
| RICHMOND, VA (FHA|USDA|VA) | 7 | $835,000 | $119,286 | $5,603 | 6.21% |
| CHARLOTTESVILLE, VA (FHA|USDA|VA) | 2 | $770,000 | $385,000 | $12,220 | 4.56% |
| DURHAM-CHAPEL HILL, NC (FHA|USDA|VA) | 1 | $665,000 | $665,000 | $65,519 | 3.50% |
| CHARLOTTE-CONCORD-GASTONIA, NC-SC (FHA|USDA|VA) | 5 | $645,000 | $129,000 | $1,714 | 4.60% |
| BEND, OR (FHA|USDA|VA) | 1 | $625,000 | $625,000 | $59,247 | 3.75% |
| North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) | 3 | $575,000 | $191,667 | $6,365 | 4.67% |
| Philadelphia-Camden-Wilmington, PA-NJ-DE-MD (FHA|USDA|VA) | 4 | $550,000 | $137,500 | $1,676 | 5.44% |
| JACKSONVILLE, FL (FHA|USDA|VA) | 3 | $475,000 | $158,333 | $5,285 | 4.42% |
| CINCINNATI, OH-KY-IN (FHA|USDA|VA) | 2 | $460,000 | $230,000 | $34,899 | 4.88% |
| Key West, FL (FHA|USDA|VA) | 1 | $455,000 | $455,000 | $0 | 4.50% |
| COLUMBUS, OH (FHA|USDA|VA) | 2 | $390,000 | $195,000 | $32,498 | 4.19% |
| Detroit-Warren-Dearborn, MI (FHA|USDA|VA) | 4 | $370,000 | $92,500 | $1,115 | 5.38% |
| Boston-Cambridge-Newton, MA-NH (FHA|USDA|VA) | 1 | $355,000 | $355,000 | $0 | 3.75% |
| PITTSBURGH, PA (FHA|USDA|VA) | 2 | $330,000 | $165,000 | $16,762 | 4.38% |
| LAKELAND-WINTER HAVEN, FL (FHA|USDA|VA) | 1 | $325,000 | $325,000 | $9,506 | 4.25% |
| CEDAR RAPIDS, IA (FHA|USDA|VA) | 1 | $305,000 | $305,000 | $35,458 | 2.75% |
| GREENSBORO-HIGH POINT, NC (FHA|USDA|VA) | 1 | $295,000 | $295,000 | $27,941 | 5.38% |
| HOUSTON-THE WOODLANDS-SUGAR LAND, TX (FHA|USDA|VA) | 1 | $285,000 | $285,000 | $11,737 | 3.63% |
| STOCKTON, CA (FHA|USDA|VA) | 3 | $285,000 | $95,000 | $1,644 | 5.17% |
| POUGHKEEPSIE-NEWBURGH-MIDDLETOWN, NY (FHA|USDA|VA) | 1 | $285,000 | $285,000 | $0 | 6.00% |
| VIRGINIA BEACH-NORFOLK-NEWPORT NEWS, VA-NC (FHA|USDA|VA) | 3 | $275,000 | $91,667 | $5,868 | 5.83% |
| GREENVILLE-ANDERSON, SC (FHA|USDA|VA) | 1 | $265,000 | $265,000 | $0 | 7.75% |
| MEMPHIS, TN-MS-AR (FHA|USDA|VA) | 2 | $260,000 | $130,000 | $4,283 | 5.38% |
| NASHVILLE-DAVIDSON-MURFREESBORO-FRANKLIN, TN (FHA|USDA|VA) | 1 | $255,000 | $255,000 | $0 | 4.00% |
| LANCASTER, PA (FHA|USDA|VA) | 1 | $255,000 | $255,000 | $35,284 | 4.13% |
| Los Angeles-Long Beach-Anaheim, CA (FHA|USDA|VA) | 1 | $255,000 | $255,000 | $0 | 4.75% |
| Easton, MD (FHA|USDA|VA) | 1 | $255,000 | $255,000 | $36,709 | 4.00% |
| NEW BERN, NC (FHA|USDA|VA) | 1 | $255,000 | $255,000 | $25,655 | 5.75% |
| RALEIGH-CARY, NC (FHA|USDA|VA) | 1 | $255,000 | $255,000 | $0 | 7.00% |
| RIVERSIDE-SAN BERNARDINO-ONTARIO, CA (FHA|USDA|VA) | 3 | $245,000 | $81,667 | $1,261 | 6.42% |
| LAS VEGAS-HENDERSON-PARADISE, NV (FHA|USDA|VA) | 1 | $235,000 | $235,000 | $0 | 8.25% |
| ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) | 2 | $230,000 | $115,000 | $2,012 | 5.13% |
| ROCHESTER, NY (FHA|USDA|VA) | 1 | $225,000 | $225,000 | $30,882 | 5.13% |
| GAINESVILLE, FL (FHA|USDA|VA) | 1 | $225,000 | $225,000 | $8,889 | 2.25% |
| BOISE CITY, ID (FHA|USDA|VA) | 1 | $205,000 | $205,000 | $0 | 3.50% |
| MYRTLE BEACH-CONWAY-NORTH MYRTLE BEACH, SC-NC (FHA|USDA|VA) | 2 | $200,000 | $100,000 | $0 | 4.00% |
| FRESNO, CA (FHA|USDA|VA) | 2 | $190,000 | $95,000 | $0 | 4.38% |
| SAN DIEGO-CHULA VISTA-CARLSBAD, CA (FHA|USDA|VA) | 1 | $175,000 | $175,000 | $0 | 4.50% |
| PORTLAND-VANCOUVER-HILLSBORO, OR-WA (FHA|USDA|VA) | 2 | $170,000 | $85,000 | $0 | 4.88% |
| HARTFORD-EAST HARTFORD-MIDDLETOWN, CT (FHA|USDA|VA) | 1 | $165,000 | $165,000 | $21,076 | 3.88% |
| MODESTO, CA (FHA|USDA|VA) | 1 | $155,000 | $155,000 | $1,528 | 7.75% |
| PENSACOLA-FERRY PASS-BRENT, FL (FHA|USDA|VA) | 1 | $155,000 | $155,000 | $0 | 4.75% |
| VALLEJO, CA (FHA|USDA|VA) | 1 | $145,000 | $145,000 | $2,848 | 5.75% |
| Sebastian-Vero Beach, FL (FHA|USDA|VA) | 1 | $145,000 | $145,000 | $0 | 5.75% |
| TRENTON-PRINCETON, NJ (FHA|USDA|VA) | 1 | $145,000 | $145,000 | $0 | 3.25% |
| Pinehurst-Southern Pines, NC (FHA|USDA|VA) | 1 | $125,000 | $125,000 | $0 | 3.25% |
| COLUMBIA, SC (FHA|USDA|VA) | 1 | $105,000 | $105,000 | $0 | 4.25% |
| CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) | 1 | $105,000 | $105,000 | $2,168 | 6.75% |
| Outside of Metro Areas | 1 | $95,000 | $95,000 | $0 | 5.25% |
| NAPLES-MARCO ISLAND, FL (FHA|USDA|VA) | 1 | $95,000 | $95,000 | $7,206 | 3.63% |
| GREENVILLE, NC (FHA|USDA|VA) | 1 | $85,000 | $85,000 | $0 | 4.00% |
| PORT ST. LUCIE, FL (FHA|USDA|VA) | 1 | $85,000 | $85,000 | $0 | 7.75% |
| DELTONA-DAYTONA BEACH-ORMOND BEACH, FL (FHA|USDA|VA) | 1 | $65,000 | $65,000 | $0 | 5.50% |
| HAGERSTOWN-MARTINSBURG, MD-WV (FHA|USDA|VA) | 1 | $55,000 | $55,000 | $0 | 6.25% |
| DAYTON-KETTERING, OH (FHA|USDA|VA) | 1 | $55,000 | $55,000 | $0 | 7.50% |
| CHARLESTON-NORTH CHARLESTON, SC (FHA|USDA|VA) | 1 | $55,000 | $55,000 | $0 | 3.50% |
| BAKERSFIELD, CA (FHA|USDA|VA) | 1 | $55,000 | $55,000 | $1,540 | 7.25% |
| LYNCHBURG, VA (FHA|USDA|VA) | 1 | $35,000 | $35,000 | $0 | 3.25% |
| DAPHNE-FAIRHOPE-FOLEY, AL (FHA|USDA|VA) | 1 | $35,000 | $35,000 | $0 | 8.25% |
Similar Lenders
We use machine learning to identify the top lenders compared against LAFAYETTE 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 |
|---|---|---|---|---|---|
| HELOC | 167 | $22,725,000 | $136,078 | n/a | 4.94% |
| Conventional | 117 | $40,585,000 | $346,880 | $19,603 | 4.83% |
For 2022, Lafayette Federal Credit Union's most frequently originated type of loan was HELOC, with 167 originations. Their 2nd most popular type was Conventional, with 117 originations.
Loan Reason
For 2022, Lafayette Federal Credit Union's most frequently cited loan purpose was Other, with 217 originations. The 2nd most popular reason was Home Purchase, with 46 originations.
Loan Duration/Length
For 2022, Lafayette Federal Credit Union's most frequently cited loan duration was 20 Year, with 179 originations. The 2nd most popular length was 30 Year, with 86 originations.
Origination Fees/Closing Costs
Lafayette Federal Credit Union's average total fees were $31,014, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 59 originations.
Interest Rates
During 2022, Lafayette Federal Credit Union's average interest rate for loans was 5.30%, while their most frequently originated rate bucket for loans was 3-4%, with 86 originations.
Loan Sizing
2022 saw Lafayette Federal Credit Union place emphasis on $100k-200k loans with 93 originations, totaling $12,655,000 in origination value.
Applicant Income
Lafayette Federal Credit Union lent most frequently to those with incomes in the $150k-250k range, with 98 originations. The second most popular income band? $100k-150k, with 66 originations.
Applicant Debt to Income Ratio
Lafayette Federal Credit Union lent most frequently to those with DTI ratios of 20-30%, with 64 originations. The next most common DTI ratio? 30-36%, with 48 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications74.49%
Lafayette Federal Credit Union has a below average approval rate.
Pick Rate
Approvals leading to origination65.14%
Lafayette Federal 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 |
|---|---|---|---|
| 2767.5 | 1 | $155,000 | $155,000 |
| NA | 283 | $63,155,000 | $223,163 |